s.26Normal retirement benefit
26
Section 26Part 5 — Pension Benefits

Normal retirement benefit

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Upon the attainment of normal retirement age an active, deferred vested or retired participant shall be entitled to receive immediately a pension determined on the date he attains normal retirement age, subject to the limitations set out in section 32 with respect to maximum pensions.
The pension referred to in subsection (1) shall be at a rate of one-three hundred and sixtieth of the final pensionable earnings for each full month that he has served as a member or a Speaker payable on the date when he becomes entitled to such pension.
Subject to this Law, a pension payable to any person under this Law —
shall be paid with effect from the date on which that person becomes entitled thereto pursuant to this Law and, subject to this Law, shall continue to be paid during the lifetime of that person; and
shall be paid monthly in arrears and, as far as possible, in equal instalments.

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