Payment of amounts to members of the Fund

Payment of amounts to members of the Fund. —

1. (1) A member of the Fund shall, on his retirement or on his ceasing to be a member, be entitled to receive from and out of the Fund the amount as specified in the Schedule.
2. (2) In the event of death of a member, the amount shall be paid to his nominee or, in the absence of any nominee, to his legal heirs.