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SUPERANNUATION AND FAMILY BENEFITS ACT 1938 - SECT 66A

66A .         Preserved pensions for retrenched persons

        (1)         In this section — 

        retrenched person means a person who ceases to be an employee in circumstances such that the person is retrenched within the meaning given to that term in regulation 19(2) of the State Superannuation Regulations 2001 , and includes a person to whom this section applies because of subsection (7).

        (2)         If a retrenched person — 

            (a)         has not received any payment under section 66 of this Act; and

            (b)         has not applied under regulation 19(1)(c) of the State Superannuation Regulations 2001 to become a Gold State Super Member within the meaning of those regulations,

                the person may, by notice in writing in a form approved by the Board, request particulars of the preserved pension that the person may become entitled to under this section.

        (3)         When a person makes a request under subsection (2), the Treasurer, on the advice of an actuary, is to determine — 

            (a)         the method of calculating the amount of the preserved pension;

            (b)         the circumstances in which, and time when, the preserved pension would be payable on the ground of invalidity or physical or mental incapacity to work, and the method of calculating the preserved pension in those circumstances; and

            (c)         the circumstances in which, and time when, benefits would be payable to a widow, widower, child, or personal representative as a result of the death of the person entitled to the preserved pension, and the methods of calculating those benefits.

        (4)         The retrenched person is to be notified of the Treasurer’s determination and if, within such time as the Treasurer allows, the person agrees in writing to accept the preserved pension, the person becomes entitled to the preserved pension.

        (5)         If a person becomes entitled to a preserved pension the person ceases to have any entitlement under section 66, and cannot make an application under regulation 19(1)(c) of the State Superannuation Regulations 2001 .

        (6)         The preserved pension is not payable until the person —

            (a)         attains the age of 55 years; and

            (b)         ceases to be a worker as defined in the State Superannuation Regulations 2001 ,

                except if it is payable in circumstances referred to in subsection (3)(b), in which case it is payable when specified in the Treasurer’s determination.

        (7)         This section also applies to a person who, on or after 12 June 1995 but before the commencement of the Government Employees Superannuation Legislation Amendment Act 1995 , ceased to be an employee in circumstances such that the person would have been retrenched within the meaning given to that term in clause 7B of Schedule 4 to the Government Employees Superannuation Act 1987 if that clause had then been in operation.

        [Section 66A inserted by No. 62 of 1995 s.5; amended in Gazette 16 February 2001 pp.1023-4.]



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