Document ID: chunk:federal_register_of_legislation:C2004C01259:clause:5_121
Version: federal_register_of_legislation:C2004C01259
Segment Type: clause
Provision Reference: sch 5 cl 121
Character Range: 19865–21269

121  Instalments of pension

 (1) Pension is payable:
 (a) in arrears; and
 (b) by instalments relating to each pension period.

 (2) Subject to subsections (3) and (4), the amount payable to a person as an instalment of pension in relation to a pension period is the total amount of pension payable to the person for the days in that period on which pension was payable to the person.

 (3) If a person who is receiving a pension is ineligible for payment in respect of the last day of a pension period, no amount is payable to the person as an instalment of pension in relation to the pension period.

 (4) If a person who is receiving a pension dies, no amount is payable to the person as an instalment of pension in relation to the pension period in which the person died.

 (5) An instalment of pension is payable on the next payday after the end of the pension period to which the instalment relates.

 (6) For the purpose of the calculation of the amount of an instalment of pension, the rate of pension payable to a person for a day is calculated by dividing the fortnightly rate of pension by 14.

 (7) In this section:

pension includes an allowance under this Act, other than Victoria Cross allowance under section 103, temporary incapacity allowance under section 107 or loss of earnings allowance under section 108, but does not include a pension or allowance to which section 58A applies.