Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Any person
contributing for a full pension upon retirement at the age of 65 years
(not being a person to whom section 60(4), (5), (7) or (8) applies)
who —
(a) has
attained the age of 60 years; and
(b) is
contributing for a number of units not less than his primary entitlement,
may, by notice in
writing in a form approved by the Board, served on the Board, elect
to —
(c)
cease to pay contributions on the units for which he was contributing at the
time of his election; and
(d) have
the pension to be paid to him upon his retirement determined under the
provisions of this section.
(2) Where an election
is made under this section —
(a) no
further contributions are payable by the contributor except —
(i)
in relation to any units for which he has not completed
the payment of 26 regular fortnightly contributions or the equivalent amount,
in respect of which units the contributor shall pay to the Board in the manner
approved by the Board the amount necessary to complete that payment; or
(ii)
in relation to units contributed for in accordance with
subsection (5);
(b) the
election has the effect of cancelling any units of pension for which the
contributor was contributing in excess of his primary unit entitlement and
there shall be refunded to the contributor the total of the contributions paid
by him in respect of the units so cancelled;
(c)
except as provided in subsection (5), the contributor is not entitled to
elect to contribute for any further units of pension.
(3) The pension
payable from the time of the retirement of a contributor who made an election
under this section shall be paid at the rate at which pension would have
become payable to him by that time had he actually retired on the day on which
his election was served on the Board, together with the further amount
calculated in accordance with subsection (4).
(4) The further amount
referred to in subsection (3) —
(a)
shall be the amount of pension determined by an Actuary to be the equivalent
of the aggregate amount of Fund share of pension that would have been payable
to the person during the period commencing on the day on which he made his
election and ending on the day on which he actually retired, together with
interest thereon at the rate from time to time determined by the Board, had he
retired on the day on which he made his election; and
(b) may
not be commuted under the provisions of section 60D.
(5) Where the salary
of a contributor who has made an election under this section is increased
subsequently but with effect from a day prior to the date on which the
election was lodged with the Board —
(a) the
contributor may elect to contribute for such further units of pension as
represent the increase in his primary unit entitlement so occasioned;
(b) if
he so elects and pays to the Board 26 regular fortnightly contributions in
respect of those units or the equivalent amount, he shall be deemed for the
purposes of this section to have been contributing for those units at the time
that he lodged his election with the Board and those units shall be deemed to
have formed part of his primary unit entitlement at that time.
(6) Where a
contributor who has made an election under this section dies prior to his
retirement —
(a) the
pension which he would have received under this section had he retired on the
date of his death (excluding any further amount referred to in
subsection (3) and (4)) shall be deemed to be the pension for which he
was contributing at the date of his death for the purposes of calculating any
reversionary pension or children’s allowance payable under the Sixth
Schedule; and
(b)
there shall be added to the widow’s pension calculated in accordance
with paragraph (a) an annuity payable fortnightly at a rate determined by
an Actuary to be the equivalent of the aggregate amount of the Fund share of
pension that would have been payable to the contributor during the period
commencing on the day on which he made his election and ending on the day on
which he died, together with interest thereon at the rate from time to time
determined by the Board had he retired on the day on which he made his
election.
(7) Section 61
shall not apply to a contributor who has made an election under this section.
(8) Any election made
under subsection (1) —
(a) is
irrevocable; and
(b)
subject to subsection (9), takes effect on the day on which it is lodged
with the Board.
(9) A contributor
entitled to make an election on the date of the commencement of this section
may, if his election is lodged on or before 30 June 1975, specify
that his election shall take effect on such earlier date as is specified
therein, being a date that is not earlier than 31 December 1974, nor
earlier than the first day on which he would have been entitled to so elect if
this section had been in operation on 31 December 1974.
(10) Without affecting
the operation of subsection (2)(b), there shall, in determining for the
purposes of subsections (1) and (9) whether a contributor was on any
relevant day contributing for a number of units equal to or in excess of his
primary entitlement, be disregarded any increase in salary which first became
payable to that contributor within the period of 2 months immediately
preceding that day.
[Section 60AA inserted by No. 4 of 1975
s.2; amended by No. 134 of 1976 s.16.]