Regulation 8

commence in —

if the member becomes a relevant member before the month in which the member attains the relevant age mentioned in regulation 6(7) — the month in which the member attains the relevant age mentioned in regulation 6(7); or

if the member becomes a relevant member in or after the month in which the member attains the relevant age mentioned in regulation 6(7) — the month in which the member becomes a relevant member or in the following month; and

cease upon the relevant member’s death, or upon the Board being notified (in such manner as the Board may require) of his or her death, as the Board may determine.

into the relevant member’s account with a bank, in any case where he or she has applied, and the Board has approved his or her application, for the monthly income to be paid by crediting that bank account;

by issuing a cheque or any other physical payment instrument to the relevant member, in any case where he or she has applied, and the Board has approved his or her application, for the monthly income to be paid in that manner;

into the relevant member’s retirement account, in any case where —

by a memorandum executed in accordance with section 25(1) of the Act, he or she has nominated any person to receive a portion of the amount payable on his or her death out of the Fund in accordance with section 25(1)(a)(iii) of the Act;

to the best of the Board’s knowledge, that nomination has not been revoked; and

he or she has applied for the monthly income to be paid in that manner; or

into the relevant member’s ordinary account, in any other case.

in a case referred to in paragraph (3)(a), the payment into the relevant member’s bank account is unsuccessful; or

in a case referred to in paragraph (3)(b), the cheque or other physical payment instrument relating to the payment has been returned to the Board or has expired.