SECTION 4: AGE RETIREMENT BENEFITS
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Revision of benefits when a member dies during re-employment
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| 4.55 |
(a) |
If before 1 February 1988 a re-employed member dies during
the period of re-employment, the death benefit payable under Rule 5.06 will
be calculated in the manner specified in that Rule, except that:
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(i) |
if Rule 4.50 applies to the re-employment, or if the member
opted to aggregate his two periods of service under Rule 4.52(i), 4.53(i),
or 4.54 (i), the death benefit will be reduced by the amount of any lump
sum already paid to him (disregarding any deductions made under Section
6, or otherwise in accordance with the Rules, from the earlier lump sum);
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(ii) |
if he had earlier been awarded an ill-health pension or
had been prematurely retired and opted under Rule 4.52(ii) or 4.54(ii) for
his two periods of service to be treated separately, "pensionable final
earnings" in Rule 5.06(iv)(a) will be reduced by the amount (excluding
the element of enhancement under Rule 5.01 or 8.04 of Appendix 8 (in the
case of a former non industrial scheme member), of the lump sum already
paid to him, and the resulting death benefit will be reduced by the element
of enhancement in that lump sum; for which purpose any deductions under
Section 6, or otherwise in accordance with the Rules, from the lump sum
already paid will not be so deducted;
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(iii) |
if he had earlier been awarded a preserved pension, and
opted under Rule 4.53(ii) for his two periods of service to be treated separately,
"pensionable final earnings" in Rule 5.06(iv)(a) will be reduced by
the amount of the preserved lump sum or (if that has not yet been paid)
by the amount of the preserved death benefit payable for his earlier service
under Rule 5.12; for which purpose any deductions made from the lump sum
already paid or due to be made from the death benefit for earlier service
shall not be so deducted. |
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(b) |
Where death occurs on or after 1 February 1988, then:
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(i) |
where a re-employed member dies during the period of re-employment,
the death benefit payable under Rule 5.06, will be reduced by the amount
of any lump sum already paid. Additionally, where the member has opted,
or had been deemed to opt, for Rule 4.53(ii) or 4.54(ii) to apply, the death
benefit due under this Rule will be reduced by the amount of any death benefit
payable under Rule 5.12.
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(ii) |
if the member would have qualified for a revised award
under Rule 4.50 had he instead retired on his date of death, the death benefit
payable will be the greater of the following amounts:
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(a) |
a sum equal to the additional lump sum which would have been
payable under Rule 4.50 (including any increase under Rule 4.40) had the
member been treated as having retired on his date of death; or
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(b) |
two years’ pensionable final earnings reduced by the amount
of any lump sum already paid.
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