Section 26

Subject to this Act (insofar as it provides for the refund, withdrawal, transfer or utilisation of any sum contributed to or standing in a PSE account), any moneys paid into the PSE account of a member of the PSE Fund belong to the member and are not assignable or liable to be attached, sequestered or levied upon for or in respect of any debt or claim.

No withdrawals or transfers authorised by the PSE Scheme Administrator from the PSE Fund under section 22, 23 or 24 nor the rights of any member of that Fund acquired under any of those sections are assignable or transferable or liable to be attached, sequestered or levied upon for or in respect of any debt or claim.

A contribution by a parent of a member of the PSE Fund under section 21(1) does not constitute a transaction at an undervalue or an unfair preference under section 361 or 362 of the Insolvency, Restructuring and Dissolution Act 2018 or form part of the parent’s estate, if the parent has been adjudged bankrupt.[16G