Section 23: Payment of costs and benefits

23. Payment of costs and benefits (1) Subject to subsection (2), any benefit payable under the Scheme shall— (a) accrue as from the month in which the participant becomes entitled to receive it; and (b) be paid in such manner and subject to such conditions as may be prescribed. (2) The benefits accruing to a contractual employee who adheres to the Scheme shall be paid in accordance with his contract of employment. (3) The benefits payable under this section shall be paid by SICOM or the authorised agent referred to in section 20 (2), as the case may be. (4) There shall be paid out of the individual account of a participant such amount incurred as costs for the administration of the individual account. [S. 23 inserted by s. 21 (j) of Act 26 of 2012 w.e.f. 22 December 2012; amended by s. 19 (h) of Act 26 of 2013 w.e.f. 1 January 2013.] FIRST SCHEDULE [Sections 6 (1) (a) (ii) (A) and 8 (3) (b) (i)] Month and year of birth New retirement date July 1953 July 2008 August 1953 September 2008 September 1953 November 2008 October 1953 January 2009 November 1953 March 2009 December 1953 May 2009 January 1954 July 2009 February 1954 September 2009 March 1954 November 2009 April 1954 January 2010 May 1954 March 2010 P6 – 14 (5) [Issue 7] Pensions Act FIRST SCHEDULE—continued Month and year of birth New retirement date June 1954 May 2010 July 1954 July 2010 August 1954 September 2010 September 1954 November 2010 October 1954 January 2011 November 1954 March 2011 December 1954 May 2011 January 1955 July 2011 February 1955 September 2011 March 1955 November 2011 April 1955 January 2012 May 1955 March 2012 June 1955 May 2012 July 1955 July 2012 August 1955 September 2012 September 1955 November 2012 October 1955 January 2013 November 1955 March 2013 December 1955 May 2013 January 1956 July 2013 February 1956 September 2013 March 1956 November 2013 continued on page P6 – 15 [Issue 7] P6 – 14 (6) Revised Laws of Mauritius FIRST SCHEDULE—continued Month and Year of Birth New Retirement Date April 1956 January 2014 May 1956 March 2014 June 1956 May 2014 July 1956 July 2014 August 1956 September 2014 September 1956 November 2014 October 1956 January 2015 November 1956 March 2015 December 1956 May 2015 January 1957 July 2015 February 1957 September 2015 March 1957 November 2015 April 1957 January 2016 May 1957 March 2016 June 1957 May 2016 July 1957 July 2016 August 1957 September 2016 September 1957 November 2016 October 1957 January 2017 November 1957 March 2017 December 1957 May 2017 January 1958 July 2017 February 1958 September 2017 March 1958 November 2017 April 1958 January 2018 May 1958 March 2018 June 1958 May 2018 July 1958 July 2018 August 1958 and thereafter 60th birthday (1 August 2018 or later) [First Sch., formerly Second Sch., added by s. 27 (g) of Act 18 of 2008 w.e.f. 1 July 2008; amended and renamed by s. 17 (d) of Act 1 of 2009 w.e.f. 1 July 2008.] P6 – 15 [Issue 2] Pensions Act SECOND SCHEDULE [Section 6 (1) (a) (ii) (B), 6B (b) (i) and 8 (3) (b) (ii)] Month and Year of Birth New Retirement Date July 1958 July 2008 August 1958 September 2008 September 1958 November 2008 October 1958 January 2009 November 1958 March 2009 December 1958 May 2009 January 1959 July 2009 February 1959 September 2009 March 1959 November 2009 April 1959 January 2010 May 1959 March 2010 June 1959 May 2010 July 1959 July 2010 August 1959 September 2010 September 1959 November 2010 October 1959 January 2011 November 1959 March 2011 December 1959 May 2011 January 19 (ii)] Month and Year of Birth New Retirement Date July 1958 July 2008 August 1958 September 2008 September 1958 November 2008 October 1958 January 2009 November 1958 March 2009 December 1958 May 2009 January 1959 July 2009 February 1959 September 2009 March 1959 November 2009 April 1959 January 2010 May 1959 March 2010 June 1959 May 2010 July 1959 July 2010 August 1959 September 2010 September 1959 November 2010 October 1959 January 2011 November 1959 March 2011 December 1959 May 2011 January 1960 July 2011 February 1960 September 2011 March 1960 November 2011 April 1960 January 2012 May 1960 March 2012 June 1960 May 2012 July 1960 July 2012 August 1960 September 2012 September 1960 November 2012 October 1960 January 2013 November 1960 March 2013 December 1960 May 2013 January 1961 July 2013 February 1961 September 2013 [Issue 2] P6 – 16 Revised Laws of Mauritius SECOND SCHEDULE—continued Month and Year of Birth New Retirement Date March 1961 November 2013 April 1961 January 2014 May 1961 March 2014 June 1961 May 2014 July 1961 July 2014 August 1961 September 2014 September 1961 November 2014 October 1961 January 2015 November 1961 March 2015 December 1961 May 2015 January 1962 July 2015 February 1962 September 2015 March 1962 November 2015 April 1962 January 2016 May 1962 March 2016 June 1962 May 2016 July 1962 July 2016 August 1962 September 2016 September 1962 November 2016 October 1962 January 2017 November 1962 March 2017 December 1962 May 2017 January 1963 July 2017 February 1963 September 2017 March 1963 November 2017 April 1963 January 2018 May 1963 March 2018 June 1963 May 2018 July 1963 July 2018 August 1963 and thereafter 55th birthday (1 August 2018 or later) [Second Sch., formerly Third Sch., added by s. 27 (g) of Act 18 of 2008 w.e.f. 1 July 2008; amended and renamed by s. 17 (d) of Act 1 of 2009 w.e.f. 1 July 2008.] P6 – 17 [Issue 2] Pensions Act THIRD SCHEDULE [Sections 8 (1) (b) (i) (AB) and 8 (4)] PHASING OF RETIREMENT AGE FROM 60 TO 65 YEARS OVER THE PERIOD 2008 TO 2018 Month and Year of Birth New Retirement Date July 1948 July 2008 August 1948 September 2008 September 1948 November 2008 October 1948 January 2009 November 1948 March 2009 December 1948 May 2009 January 1949 July 2009 February 1949 September 2009 March 1949 November 2009 April 1949 January 2010 May 1949 March 2010 June 1949 May 2010 July 1949 July 2010 August 1949 September 2010 September 1949 November 2010 October 1949 January 2011 November 1949 March 2011 December 1949 May 2011 January 1950 July 2011 February 1950 September 2011 March 1950 November 2011 April 1950 January 2012 May 1950 March 2012 June 1950 May 2012 July 1950 July 2012 August 1950 September 2012 September 1950 November 2012 October 1950 January 2013 November 1950 March 2013 December 1950 May 2013 January 1951 July 2013 February 1951 September 2013 [Issue 2] P6 – 18 Revised Laws of Mauritius THIRD SCHEDULE—continued Month and Year of Birth New Retirement Date March 1951 November 2013 April 1951 January 2014 May 1951 March 2014 June 1951 May 2014 July 1951 July 2014 August 1951 September 2014 September 1951 November 2014 October 1951 January 2015 November 1951 March 2015 December 1951 May 2015 January 1952 July 2015 February 1952 September 2015 March 1952 November 2015 April 1952 January 2016 May 1952 March 2016 June 1952 May 2016 July 1952 July 2016 August 1952 September 2016 September 1952 November 2016 October 1952 January 2017 November 1952 March 2017 December 1952 May 2017 January 1 anuary 2014 May 1951 March 2014 June 1951 May 2014 July 1951 July 2014 August 1951 September 2014 September 1951 November 2014 October 1951 January 2015 November 1951 March 2015 December 1951 May 2015 January 1952 July 2015 February 1952 September 2015 March 1952 November 2015 April 1952 January 2016 May 1952 March 2016 June 1952 May 2016 July 1952 July 2016 August 1952 September 2016 September 1952 November 2016 October 1952 January 2017 November 1952 March 2017 December 1952 May 2017 January 1953 July 2017 February 1953 September 2017 March 1953 November 2017 April 1953 January 2018 May 1953 March 2018 June 1953 May 2018 July 1953 July 2018 August 1953 and thereafter 65th birthday (1 August 2018 or later) [Third Sch., formerly First Sch., added by s. 27 (g) of Act 18 of 2008 w.e.f. 1 July 2008; amended and renamed by s. 17 (d) of Act 1 of 2009 w.e.f. 1 July 2008.] P6 – 19 [Issue 2]