(1)  Where a benefit is payable under these regulations, the Minister or a prescribed authority is to pay such proportion of that benefit as is provided by this regulation.

(2)  The payment in the case of a person who receives –

(a) a lump sum benefit from the Fund under regulation 47 , 50 , 51 , 53 or 101 or, if such a benefit is converted to a pension under regulation 79 , that pension; or

(b) an interim invalidity pension payable under regulation 57 ; or

(c) an interim pension payable under regulation 58  –

is to be an amount in respect of each pension or lump sum payment equal to the proportion determined under regulation 106(2) of the lump sum or pension that would have been payable if the person had always contributed at the basic contribution rate.

(3)  The payment in the case of a person who is paid a lump sum benefit from the Fund under regulation 54 is to be an amount equal to –

(a) if the person is a contributor to whom regulation 48 refers who –

(i) becomes entitled to an amount under regulation 45 ; and

(ii) ceases to be a contributor otherwise than by reason of a prescribed arrangement –

the whole of the amount, less the sum payable from the Fund under regulation 54(4)(a) ; or

(b) if the person ceases to be a contributor as a result of a prescribed arrangement and is entitled to both a benefit under regulation 48 and an amount under regulation 54(9)(a) , the total benefit payable under regulation 48 less the amount payable from the Fund under regulation 54(4)(a) ; or

(c) if the person ceases to be a contributor as a result of a prescribed arrangement and is entitled to a benefit under regulation 49 and an amount under regulation 54(13) , the total benefit payable under regulation 49 that exceeds the balance of his or her account under regulation 42 ; or

(d) if the person ceases to be a contributor in accordance with regulation 52 and becomes entitled to a benefit payable under regulation 54(11) , the whole of the benefit that is in excess of the balance standing to the credit of the contributor's account under regulation 42 .

(4)  The payment in the case of a person entitled to a lump sum benefit which becomes payable under regulation 67 is to be an amount equal to the whole of that lump sum benefit.

(5)  The payment in the case of a person entitled to a pension continued or payable under Schedule 5 is to be an amount calculated as a percentage of the pension, which is to be the same percentage that the Minister or prescribed authority was contributing towards that pension or benefit immediately before the commencement day.

(6)  The payment in the case of a person who receives a pension payable under regulation 81 is to be an amount calculated as a percentage which is to be the same percentage that the Minister or prescribed authority was contributing immediately before the date of death of the relevant pensioner.

(7)  The payment in the case of a person who receives a lump sum payment from the Fund under regulation 86 is to be an amount calculated as a percentage of the lump sum which is the same percentage that the Minister or prescribed authority was contributing towards the pension payable immediately before the election to commute all or part of that pension to a lump sum payment.

(8)  The payment in the case of a person who receives a lump sum or pension payment from the Fund under regulation 124 is to be an amount determined by the Board on the advice of the Actuary.

(9)  References in this regulation to pensions are taken to be references to pensions as increased each half-year under regulation 82 .

(10)  The amount payable by the University of Tasmania in respect of a former employee of the Tasmanian College of Advanced Education who was transferred in employment to the University of Tasmania is to be calculated in accordance with Schedule 4.

(11)  An amount that, but for this subregulation, would have been payable by the Minister under this regulation in respect of a person for whom money is deposited in the Fund under regulation 109 is to be paid from the money so deposited and any accretions to that money.

(12)  If the total of the money deposited in the Fund under regulation 109 and all accretions to that money is insufficient to meet an amount payable under this regulation, the Minister must pay to the Fund or the separate accounts referred to in regulation 109 an amount sufficient to enable the first-mentioned amount to be so paid.