Commonwealth Numbered Acts

SUPERANNUATION ACT 1976 No. 31, 1976 - SECT 69

69. (1) A person-

   (a)  who becomes entitled to invalidity benefit by virtue of subsection 66
        (1); and

   (b)  whose period of prospective service is less than 8 years, may, not
        later than 1 month after becoming so entitled, elect, by notice in
        writing to the Commissioner, that, in lieu of benefit being payable in
        accordance with section 67, lump sum benefit be paid in accordance
        with this section.

(2) Where a person makes an election under sub-section (1), the lump sum
benefit to which the person is entitled in accordance with this sub-section is
an amount equal to whichever is the greater of-

   (a)  31/2 times the person's accumulated basic contributions; or

   (b)  one-half of the amount that is the amount per annum of the person's
        final annual rate of salary.

(3) Where a person makes an election under sub-section (1) and the person has
paid supplementary contributions, the lump sum benefit to which the person is
entitled in accordance with this sub-section is an amount, payable out of the
Fund, equal to the persons's accumulated supplementary contributions.

(4) A person who makes an election under section 68 is not entitled to make an
election under sub-section (1) of this section.