New South Wales Consolidated Acts New South Wales Consolidated ActsSubject to section 62, where a person who is a contributor ceases to be employed by an employer or, by reason of an order made under section 21 (1), ceases to be liable to contribute to the Fund and, but for this section, there would not be payable under this Act to or in respect of that person any lump sum benefit or pension or annuity, there shall be paid to him from the Fund as a lump sum benefit or, where he is deceased, to his personal representatives or, where he is deceased and has no personal representatives, to such person as the Board may determine:
(a) in the case of a person, not being a person in respect of whom an order is in force under section 21 (1), who had been a contributor to the Transport Retirement Fund and, at the time he ceased to be employed by an employer, had not completed five years’ service-an amount equal to the sum of:(i) the total of the amounts of his contributions to the Fund under this Act, and(ii) the total of the amounts of his contributions to the Transport Retirement Fund,reduced by the difference between the amount referred to in subparagraph (ii) and the total amount of the contributions that would have been paid by him to the Transport Retirement Fund had all his contributions thereto been made in accordance with Scale 2 of Schedule 2 of the Transport Employees Retirement Benefits Act 1967 ,
(c) in the case of a person who, at the time he ceased to be employed by an employer or ceased to be liable to contribute to the Fund, had completed less than ten years’ service, an amount equal to the sum of:(i) the total of the amounts of his contributions to the Fund,(ii) the amount of his initial credit, if any, and(iii) interest as provided by section 53 on the amounts referred to in subparagraphs (i) and (ii) in respect of the period that commenced on the date on which he became a contributor and ended on the date on which he ceased to be employed by an employer or ceased to be liable to contribute to the Fund,
(d) in the case of a person who, at the time he ceased to be employed by an employer or ceased to be liable to contribute to the Fund, had completed not less than ten years’ service, an amount equal to the sum of:(i) the amount to which he would be entitled if paragraph (c) were applicable to him, and(ii) where he does not cease to be liable to contribute to the Fund by reason of an order made under section 21 (1), an allowance of an amount that is a percentage of the amount referred to in subparagraph (i), being one-half of the percentage calculated, in accordance with the formula prescribed by Schedule 5, with respect to the number of months of service that had been completed by that person on or before the cessation of his employment.