s.27Participation upon re-election to the Legislative Assembly, to Cabinet etc
27
Section 27Part 5 — Pension Benefits

Participation upon re-election to the Legislative Assembly, to Cabinet etc

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A retired participant who is receiving a pension and who is subsequently re-elected to the Legislative Assembly or re-employed as Speaker shall continue to receive that pension without interruption upon such re-election or re-employment and he shall continue as an active defined contribution participant upon his return.
Where an active participant becomes eligible for a pension while he is a member or a Speaker —
he may elect to be paid such pension and if he so elects he shall thereafter continue as an active defined contribution participant until such time as he ceases employment; or
he may elect not to receive such pension and to continue contributions to the Plan until such time as he reaches the maximum pension and where that occurs he shall continue thereafter as an active defined contribution participant until such time as he ceases employment; or
and he has reached his maximum pension entitlement, he shall be paid such pension and he shall thereafter continue as an active defined contribution participant until such time as he ceases employment.
A person who is elected to the Legislative Assembly for the first time after the date of the commencement of this amending Law or who is appointed Speaker for the first time after such date shall become an active defined contribution participant.
A participant shall not be permitted to transfer from the defined contribution part of the Plan to the other part of the Plan under this Law.
The defined contribution part of the Plan shall be administered by the Board in accordance with this Law and regulations made under this Law.
Regulations made under subsection (3) shall be subject to the affirmative resolution of the Legislative Assembly.
In administering the defined contribution part of the Plan the Administrator shall apply such sections of this Law as apply to the administration of a defined contribution plan (with necessary changes).

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