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Legislative Assembly Retirement Benefits Scheme (Amendment) Act 2020

TONGA

LEGISLATIVE ASSEMBLY RETIREMENT BENEFITS SCHEME (AMENDMENT) ACT 2020

Act 26 of 2020

Arrangement of Sections

Section
1 Short Title
2 Section 22B amended

LEGISLATIVE ASSEMBLY RETIREMENT BENEFITS SCHEME (AMENDMENT) ACT 2020

Act 26 of 2020

AN ACT TO AMEND THE LEGISLATIVE ASSEMBLY RETIREMENT BENEFITS SCHEME ACT TO REVISE THE EMPLOYER'S CONTRIBUTIONS FOR MEMBERS AND TO ALLOW COMPASSIONATE RELEASE OF RETIREMENT BENEFITS TO ASSIST CONTRIBUTING MEMBERS WITH FINANCIAL HARDSHIP DURING A STATE OF EMERGENCY

I assent,
TUPOU VI,
25^th February 2021.

BE IT ENACTED by the King and Legislative Assembly of Tonga in the Legislature of the Kingdom as follows:

1. Short Title

(1) This Act may be cited as the Legislative Assembly Retirement Benefits Scheme (Amendment) Act 2020.

(2) In this Act, the Legislative Assembly Retirement Benefits Scheme Act, as amended, is referred to as the "Principal Act".

2. Section 22B amended

The Principal Act is amended by-

(a) renumbering the current section 22B as section 22C; and
(b) inserting the following as section 22B –

• "22B Release of employer's contribution benefits on compassionate grounds
• (1) The Board may permit a contributing person under this Act to draw out up to twenty-five per cent from the Legislative Assembly's contributions to the Fund in respect of that contributing person to assist the contributing person to deal with financial hardship in the event of a state of emergency declared pursuant to the Emergency Management Act.
• (2) The Board may allow the release and the payment of funds under subsection (1) –
  • (a) upon receipt of a written application from the contributing person; and
  • (b) only if the contributing person had withdrawn his total contributions made under section 19 of the Act."
    

Passed by the Legislative Assembly this day 10^th of December 2020.