Commonwealth Numbered Acts

SUPERANNUATION ACT 1976 No. 31, 1976 - SECT 68

68. (1) A person who becomes entitled to invalidity pension by virtue of
sub-section 66 (1) may, not later than 1 month after becoming so entitled,
elect, by notice in writing to the Commissioner, that, in lieu of benefit
being payable in accordance with section 67, pension and lump sum benefit be
paid in accordance with this section.

(2) Where a person makes an election under sub-section (1) and the period of
prospective service of the person is not less than 30 years, then, subject to
sub-section (3), the annual rate of the pension to which the person is
entitled is 50 per centum of that person's final annual rate of salary.

(3) Where a person makes an election under sub-section (1) and the period of
contributory service of the person is not less than 31 years, the annual rate
of the pension to which the person is entitled is such percentage of the
person's final annual rate of salary as, having regard to the number of
complete years included in that period of contributory service, is applicable
in accordance with columns 1 and 3 of Schedule 3.

(4) Where a person makes an election under sub-section (1) and the period of
prospective service of the person is less than 30 years, the annual rate of
the pension to which the person is entitled is such percentage of the person's
final annual rate of salary as, having regard to the number of complete years
included in that period of prospective service, is applicable in accordance
with columns 1 and 3 of Schedule 4.

(5) Where a person makes an election under sub-section (1), the lump sum
benefit to which the person is entitled is an amount, payable out of the Fund,
equal to the person's accumulated contributions.

(6) A person who makes an election under section 69 is not entitled to make an
election under sub-section (1) of this section.