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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2022 - onwards
Version 2 of 2

13. Retirement benefits: removal of 15 year rule

Section 772 of the Principal Act is amended in subsection (3D) by the substitution of the following paragraph for paragraph (a):

"(a) a member's entitlements under the scheme, other than an amount referred to in paragraph (b), may, either on the member's changing employment or on the scheme being wound up, be transferred to one or more than one PRSA to which that member is the contributor if benefits have not become payable to the member under the scheme,".