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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 14 April 2008 - onwards
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30. Preserved benefit - defined contribution scheme.

(1) In this section -

"appropriate contributions" shall be construed in accordance with subsections (4), (5) and (6);

"accumulated value" in relation to any appropriate contributions, shall be construed in accordance with section 2;

"scheme" means a defined contribution scheme.

(2) A preserved benefit shall be provided under a scheme and it shall be such that its actuarial value at the date on which payment of it commences is equal to the accumulated value on that date of the appropriate contributions in respect of the member concerned under the scheme.

(3) On the death of a member of a scheme who is entitled to a preserved benefit before such benefit commences to be payable, an amount shall be payable under the scheme to his personal representative in respect thereof equal to the accumulated value of the appropriate contributions under the scheme in respect of the member immediately before his death.

 

(4) Subject to subsections (5) and (6), the appropriate contributions shall be the

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