Superannuation Act, 1956

Restrictions as respects amount surrendered.

9.—Where a person surrenders under this Act part of an allowance—

(a) he shall not surrender less than such portion of the allowance as would provide a pension under this Act after his death equal to one-fourth of the amount of the allowance remaining after the surrender,

(b) he shall not surrender more than—

(i) one-third of the allowance, or

(ii) such portion of the allowance as would provide a pension under this Act after his death equal to the amount of the allowance remaining after the surrender,

whichever is the less, and

(c) he shall not surrender an amount of the allowance which is not an exact number of pounds.