“lump sum benefit” includes-

(a)     any amount determined in respect of the commutation of an annuity or portion of an annuity-

(i)      payable by; or

(ii)     provided in consequence of membership or past membership of,

a pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund; and

(b)     any fixed or ascertainable amount (other than an annuity) –

(i)      payable by; or

(ii)     provided in consequence of membership or past membership of,

a pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund, whether in one amount or in instalments, but does not include any amount deemed to be income accrued to a person in terms of section 7(11);