Lump sum refund with part of the benefit preserved

The final option is also only for the under 55s.

Employees may elect to be paid a lump sum payment of contributions and preserve both the GFP and productivity components.

On reaching age 55, the preserved benefit must then be taken as a lump sum.

Again, while some money is not received, as the employee has chosen to preserve part of the benefit, the benefit is deemed to have been received and superannuation must be taken into account for the purposes of incapacity payments.