“retirement date” means the date on which –

(a)     a member of a pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund, elects to retire and in terms of the rules of that fund, becomes entitled to an annuity or a lump sum benefit contemplated in paragraph 2(1)(a)(i) of the Second Schedule on or subsequent to attaining normal retirement age; or

[Paragraph (a) substituted by section 1 of Act 43 of 2014, section 2 of Act 17 of 2017 and section 1 of Act 23 of 2018 effective on 1 March 2018, applies in respect of years of assessment commencing on or after that date]

(b)     a nominee or dependant of a deceased member of a pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund, in terms of the rules of that fund, becomes entitled to an annuity or a lump sum benefit contemplated in paragraph 2(1)(a)(i) of the Second Schedule on the death of the member;