(1) Subject to
subregulation (4), if —
(a) a
statutory GESB Super Member or voluntary GESB Super Member retires or ceases
to be a worker; or
(b) an
eligible statutory GESB Super Member otherwise ceases to be an eligible
statutory GESB Super Member; or
(c) a
partner GESB Super Member —
(i)
satisfies the criteria for payment of a benefit under
regulation 118; or
(ii)
elects to withdraw from the GESB Super Scheme under
regulation 86(3);
or
(da) a
GESB Super Member suffers from a terminal medical condition; or
(d) a
GESB Super Member reaches 65 years of age,
and no benefit is
payable under regulation 115, the Member is entitled to a benefit of an
amount equal to the balance of the Member’s GESB Super account.
(2) If the Member
satisfies the criteria for payment of a benefit under regulation 118, the
Board is to pay the benefit to the Member when requested by the Member to do
so.
(3) If the Member does
not satisfy the criteria for payment of a benefit under regulation 118,
the benefit is preserved until those criteria are satisfied.
(4) If a Member is
entitled to a benefit under this regulation and a benefit under
regulation 116, the benefit under regulation 116 is to be paid
first.
[Regulation 114 inserted: Gazette
13 Apr 2007 p. 1653; amended: Gazette 1 Apr 2008
p. 1284; 8 Jul 2008 p. 3236; 10 May 2011
p. 1669; 8 Jul 2011 p. 2901.]