Intellectual Property Rights from Publicly Financed Research and
R 385
Government Employees Pension Law, 1996Annexure 1 : Government Employees Pension Law, 199626. Period within which payment of benefits shall commence |
| (1) | Notwithstanding anything to the contrary in any law contained, a benefit payable in terms of this Law shall be paid to the member, pensioner or beneficiary entitled to such benefit within a period of 60 days from the benefit becoming payable to the member, pensioner or beneficiary, which 60 days shall be calculated from the day following the date on which the benefit becomes payable: Provided that a benefit shall become payable to a member, pensioner or beneficiary on the last day of service at the employer of that member or pensioner or the death of that pensioner. |
| (2) | Interest shall be paid by the Fund to the member, pensioner or beneficiary on any part of the amount of the benefit not paid within the period of 60 days referred to in subsection (1), from the date on which the benefit became payable, at the rate prescribed, which interest shall be calculated from the day following the date on which the benefit became payable. |
| (3) | For the purpose of section 12(1) of the Prescription Act, 1969 (Act No. 68 of 1969), a benefit payable to a member, pensioner or beneficiary in terms of this Law shall be deemed to be due on the date following the date on which a member's benefit becomes payable in terms of subsection (1) for the period after expiry of 60 days. |
| (4) | Notwithstanding subsection (2), interest is not payable on funeral benefits. |
