Retirement Savings Accounts Regulations 1997
An investment earning in relation to a benefit of any kind is an unrestricted non-preserved benefit on a day if:
(a) the benefit was cashed, before that day, in the form of a non-commutable life pension; and
(b) for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non-preserved benefits is `Nil'; and
(c) the pension commenced to be paid before that day. 4.17B(2) [Non-commutable life annuities]
An investment earning in relation to a benefit of any kind is an unrestricted non-preserved benefit on a day if:
(a) the benefit was cashed, before that day, in the form of a non-commutable life annuity; and
(b) for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the annuitant has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non-preserved benefits is `Nil'; and
(c) the annuity commenced to be paid before that day. 4.17B(3) [Pensions]
An investment earning in relation to a benefit is an unrestricted non-preserved benefit on a day if:
(a) the benefit is an unrestricted non-preserved benefit; and
(b) the benefit was cashed, before that day, in the form of a pension; and
(c) for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non-preserved benefits is `Nil'; and
(d) the pension commenced to be paid before that day. 4.17B(4) [Annuities]
An investment earning in relation to a benefit is an unrestricted non-preserved benefit on a day if:
(a) the benefit is an unrestricted non-preserved benefit; and
(b) the benefit was cashed, before that day, in the form of an annuity; and
(c) for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the annuitant has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non-preserved benefits is `Nil'; and
(d) the annuity commenced to be paid before that day.
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