Section 30Part 2 — Defined Benefits
Plan member contribution account
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30. (1) The Administrator shall maintain on the books of the Fund for each plan member who is an active defined benefit plan member, and for each retired and deferred vested plan member of the prior plan who made contributions under the prior law and who is entitled to a scheduled benefit under the Plan under section 27(2), and for any beneficiary of a deceased defined benefit plan member, for so long as the Plan maintains an obligation to pay to or on behalf of such plan member or beneficiary a benefit under this Act, a plan member contribution account.
The Administrator shall determine a plan member contribution account balance as at the 31st December, 1997 for each plan member described in subsection (1) Public Service Pensions Act (2023 Revision) Section 31 c Revised as at 31st December, 2022 Page 29 who made contributions under the prior law. The plan member contribution account balance shall include all plan member contributions made to the Fund by the plan member under the prior law, plus interest credited in accordance with rules prescribed by regulations, minus distributions, if any, made to or on behalf of the plan member prior to the 14th April, 1999 which were attributable to the plan member contributions.
The Administrator shall make adjustments to each plan member contribution account balance at such times and in such manner as prescribed by regulations. Retirement Benefits