| (2) |
The commissioner shall, at the request in writing of a beneficiary, pay a one-sum benefit referred to in subsection (1) or any portion thereof as elected by the beneficiary, in such monthly or three-monthly instalments as may be determined from time to time by the beneficiary in question. |
| (3) |
The commissioner may pay any pension or any instalment of a one-sum benefit awarded under the previous Act or this Act— |
| (a) |
to the beneficiary himself or herself; or |
| (b) |
in part to the beneficiary and in part to his dependants; or |
| (c) |
in full to his dependants; or |
| (d) |
for the benefit of the beneficiary or his dependants, to any other person or any institution, organization or Government Department; or |
| (e) |
in part to the beneficiary and in part, for the benefit of the beneficiary or his dependants, in accordance with paragraph (d). |
| (4) |
The commissioner shall add interest to any one-sum benefit or any other amount awarded under the previous Act or this Act, or to the balance of any such benefit or amount, as the case may be, at a rate determined from time to time by the commissioner after consultation with the advisory committee, as from the first day of the month following the month in which such benefit or amount was awarded until the last day of the month preceding the month in which such benefit or amount or the final instalment thereof was paid: Provided that no interest shall be paid on any amount which has remained in the possession of the commissioner for less than thirty days. |
[Section 94 substituted by section 10 of the Pension Laws Amendment Act, No. 89 of 1988]
Older Persons Act, 2006
