Section 25Part 5 — Pension Benefits
Participant rights
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No participant shall lose his right to a pension under this Law because he is adjudicated bankrupt or declared insolvent by a competent Court.
A pension granted under this Law is exempt from execution, seizure, attachment or any other process in respect of any debt or claim of a creditor, except for the purposes specified in subsection (3).
A pension provided under this Law shall not be transferable or assignable by a participant or beneficiary, except for the purpose of satisfying —
a debt due to the Government; or
an order of a Court for the payment of periodical sums of money towards the maintenance of the spouse, former spouse or minor child of the participant to whom the pension has been granted,
subject to, or available to, the creditors of a participant prior to payment thereof.
Where any participant is sentenced by a court in the Islands or in any part of the Commonwealth to death or to a term of imprisonment (by what ever name called) exceeding twelve months then such pension shall forthwith cease and not become payable.
Notwithstanding subsection (4), where a participant whose pension has so ceased or not been so paid has completed his sentence of imprisonment the Cabinet may direct that the pension be restored or paid as from the date of such completion or discharge or any later date, and the pension shall be restored and paid accordingly.
Referenced By
- Section 2 — Definitions
child definition references section 25