PARLIAMENTARY SUPERANNUATION ACT 1974 - SECT 21AI

PARLIAMENTARY SUPERANNUATION ACT 1974 - SECT 21AI

21AI—Determination of invalidity/death insurance

        (1)         For the purposes of this Division, a PSS 3 member is entitled to the following level of invalidity/death insurance by virtue of his or her membership of PSS 3:

Where—

"B" is the amount of benefit;

"F" is—

            (a)         in the case of a PSS 3 member who has not reached the age of 66 years at the relevant time—5;

            (b)         in the case of a PSS 3 member who is 66 years of age at the relevant time—4;

            (c)         in the case of a PSS 3 member who is 67 years of age at the relevant time—3;

            (d)         in the case of a PSS 3 member who is 68 years of age at the relevant time—2;

            (e)         in the case of a PSS 3 member who is 69 years of age at the relevant time—1;

            (f)         in the case of a PSS 3 member who has reached the age of 70 years at the relevant time—0;

"BS" is the member's basic salary at the relevant time (expressed as an annual salary);

"AS" is—

            (a)         in the case of a member who has held a prescribed office at any time—an amount arrived at by taking the rate of remuneration for the highest prescribed office that the member held, being the rate applying to the holder or holders of such an office immediately before the relevant time, and—

                  (i)         in the case of a member who held prescribed offices for a total period exceeding 4 years, or who held any prescribed office immediately before the relevant time—applying that rate over a period of 4 years;

                  (ii)         in any other case—applying that rate over the period or periods over which the member held any prescribed office before the relevant time;

            (b)         in any other case—0;

"GCA" is the amount standing to the credit of the member's Government contribution account at the relevant time, less any amount credited to that account due to superannuation salary sacrifice payments under section 14C(2).

        (2)         For the purposes of subsection (1), the "relevant time is—

            (a)         in the case of invalidity insurance—the date on which the relevant member ceases to be a member of the Parliament of the State;

            (b)         in the case of death insurance—the date on which the relevant member dies or, if the relevant member died after leaving the Parliament of the State (see section 21AH(6)), the date on which he or she ceased to be a member of the Parliament of the State.

        (3)         If an entitlement under this section would be a negative number (or zero), there is no entitlement.