Government Employees Pension Law, 1996Schedule 1 : Rules of the Government Employees Pension Fund14. Benefits payable to members14.3 Benefits on retirement of members |
| 14.3.1 | If a member retires— |
| (a) | on or after his or her pension-retirement date; |
| (b) | before his or her pension-retirement date in terms of the law governing his or her terms and conditions of service; |
| (c) | due to the lapse of his or her service contract; |
| (d) | before his or her pension-retirement date, but not on a date prior to the member attaining the age of 55 years: Provided that such a member has the right to retire on that date in terms of the provisions of any act which regulates his or her terms and conditions of employment; or |
| (e) | whilst in the education service and the member has attained the age of 50 years but not the age of 55 years: Provided that such a member has the right to retire on that date in terms of the provisions of any act which regulates his or her terms and conditions of employment, |
such member shall be entitled to the benefits indicated in rule 14.3.2 or 14.3.3, as the case may be.
| 14.3.2 | Members with less than 10 years pensionable service— |
a member who retires on account of a reason mentioned in rule 14.3.1 and who has less than 10 years pensionable service to his or her credit, shall receive a gratuity equal to his or her actuarial interest.
| 14.3.3 | Members with 10 years and more pensionable service— |
| (a) | a member who retires on account of a reason mentioned in rule 14.3.1(a), (b) or (c) and who has at least 10 years pensionable service to his or her credit, shall be paid the benefits referred to in rule 14.2.1 or 14.2.2: Provided that rules 14.2.3(a) and 14.2.2 shall apply to members referred to in those rules, where applicable; |
| (b) | a member who retires on account of a reason mentioned in rules 14.3.1(d) or (e) and who has at least 10 years pensionable service to his or her credit, shall be paid the benefits referred to in rule (a) above: Provided, that such benefits shall be reduced by one third of one per cent for each complete month between the member's actual date of retirement and his or her pension-retirement date. |
[Rule 14.3.3 substituted by Notice No. 1073 of 8 August 2003]
| 14.3.4 | The provisions of rule 14.2.6 will apply mutatis mutandis upon the retirement of a member in terms of rule 14.3. |
[Rule 14.3.4 substituted by Notice No. 1073 of 8 August 2003]
[Rule 14.3 substituted by Notice No. 499 of 11 April 1997]