Section 39Part 2 — Defined Benefits
Minimum pension payments
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39. (1) Notwithstanding any provision of this Act to the contrary, no pension provided under Part II and payable to a plan member with ten or more years of qualifying service shall result in monthly payments, after commutation, of less than four hundred dollars except that such minimum pension payments shall not apply to benefits payable to a surviving spouse, civil partner or child upon the death of the plan member.
The aggregate amount of pension payments under this Act made to or on behalf of any defined benefit plan member shall in no event be less than an amount equal to that person’s plan member contribution account balance at the time of retirement or death. Where the total amount of pension paid to or on behalf of a defined benefit plan member is less than that person’s plan member contribution account balance on the date of the plan member’s death or the death of the plan member’s last surviving beneficiary, the difference shall be paid in cash to the plan member’s or beneficiary’s estate.