Termination of account with approved bank or surrender of approved annuity
9.—(1) Where a member terminates the account with an approved bank in which he has deposited the additional sum, the member is entitled to withdraw all the moneys in that account.
(2) Where a member surrenders any approved annuity, the member is entitled to be paid from the insurer issuing the approved annuity an amount representing the surrender value of the approved annuity.