SECTION 5: BENEFITS IN THE EVENT OF ILL-HEALTH RETIREMENT:
DEATH: RESIGNATION
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Termination of pensionable service on resignation or withdrawal
from the Scheme
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| 5.08 |
(1) |
Subject to (3) below, a member who resigns from employment
or who withdraws from the Scheme may benefit in accordance with Rules 5.09
to 5.13: he may be awarded a preserved pension and preserved lump sum or
a refund of contributions. For the purpose of this Rule, termination of
a fixed term contract before age 60 shall be treated as resignation.
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(2) |
Alternatively, a member
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(i) |
who resigns on or before 31 December 1985 may be eligible
for the payment of a transfer value to his new employer, subject to the
provisions set out in Appendix 4;
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(ii) |
who resigns from employment on or after 1 January 1986 or
who withdraws from the Scheme may be eligible for the payment of a transfer
value in respect of his accrued pension benefits under and in accordance
with the provisions of Section 9; except that where a member withdraws from
the Scheme without resigning from employment only those benefits accrued
on or after 6 April 1988 may be transferred in this way.
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(3) |
A member who withdraws from the Scheme before 5 July 1991
under Rule 1.08 without resigning from employment may benefit in accordance
with Rules 5.09 to 5.12 but will not be entitled to a refund of contributions.
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Resignation after 2 or more years' service
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| 5.09 |
A member who resigns or withdraws from the Scheme and who:
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(i) |
has two or more years' qualifying service; or
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(ii) |
is a female member who resigns on or after 6 April 1978 and
who leaves the Scheme after the end of the tax year preceding that in which
she attains the age of 60 (notwithstanding that she has not completed 2
years qualifying service); or
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(iii) |
was formerly entitled to rights under a personal pension scheme
in respect of which a transfer payment has been made to this scheme and
who does not opt to transfer the whole or, under Rule 9.02(2), part of his
accrued benefits out of this Scheme, will be awarded a preserved pension
and lump sum in respect of such part of his accrued pension benefits as
is not transferred.
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A preserved pension and preserved lump sum awarded under this
Rule will be brought into payment (with benefit of Rule 4.40) when the member
reaches retiring age, and will be calculated in the same way (and be liable
to similar deductions) as a pension and lump sum payable under Rule 4.03.
Where a refund of contributions for family benefits is due to the member
in accordance with Rule 5.18, this will be paid in addition to other benefits
under this Rule.
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Early payment of preserved benefits in case of ill-health
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| 5.10 |
If a member who has been awarded a preserved pension and a
preserved lump sum falls ill before reaching retiring age, then in either
of the following cases the pension and lump sum may be brought into payment
immediately (with the benefit of Rule 4.40):
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(a) |
if, having withdrawn from the scheme, an employee is retired
on medical grounds because of that illness; or
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(b) |
if, following his resignation, the Authority are satisfied
that his illness would have led to his retirement on medical grounds had
he still been in the service of an employer.
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Before the pension and lump sum becomes payable, a member
with a medically assessed life expectancy of less than 12 months, may make
an election under Rule 5.01(a).
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Early payment of preserved benefits in certain personal
circumstances
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| 5.11 |
The Authority may, at their discretion, bring a preserved
pension and preserved lump sum into payment (separately or together) if:
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(a) |
he is aged 50 or over and
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(b) |
there are personal circumstances which compel a member or
an employee who has withdrawn from the Scheme to give up employment or,
in the case of a person who has resigned, prevent him from seeking employment.
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Where the preserved pension and lump sum are brought into
payment together, the individual may, before those benefits come into payment,
make an election under Rule 4.03(1).
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Lump sum payable on death before preserved benefits
come into payment
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| 5.12 |
If a member who has been awarded a preserved pension and preserved
lump sum dies before they come into payment, a death benefit equal to the
preserved lump sum which would have been payable under Rule 5.09 (with benefit
of Rule 4.40) may be paid to the person nominated by him
or persons
under Rule 5.06
in the same shares as specified in the nomination where there is more than one nominee
or (in the absence of a valid nomination) to his legal personal representatives.
If he dies after the preserved benefits have come into payment, a supplementary
lump sum may be payable under Rule
Rule 5.07 (3) or Rule 5.07 (4). This Rule also applies to members
who have been awarded a preserved lump sum under Rule 8.04(c).
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Resignation after less than 2 years' service
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| 5.13 |
A member with less than 2 years' qualifying service who resigns
or on or after 5 July 1991 withdraws from the Scheme, and who does not opt
for the payment of a transfer value, will be paid a return of basic contributions
in accordance with Rule 5.15 and, where appropriate, a refund of contributions
for family benefits in accordance with Rule 5.18. A return of basic contributions
under this Rule or under Rule 5.14 will not normally be paid if the member
previously resigned before 6 April 1978 with a payment under this Rule,
and if less than 6 months elapsed between the date of that resignation and
the date on which his current period of reckonable service began; provided
that the Authority may at their discretion waive this limitation if there
are compassionate grounds for doing so and if the second resignation was
brought about by circumstances outside his control.
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