Document ID: chunk:federal_register_of_legislation:C2004A04205:body:0:p21
Version: federal_register_of_legislation:C2004A04205
Segment Type: other
Provision Reference: 
Character Range: 53074–55718

additional age retirement pension or additional early retirement pension, as the case may be, to which the person is, or is about to become, entitled, is to be postponed, payment of that pension is postponed until a date worked out under section 110tb.

Date on which postponed benefits become payable

"110tb. A benefit, the payment of which has been postponed under this Part, becomes payable on the earlier of the following dates:

  (a)     the date on which the person attains the age of 65 years;

    (b)     if the person provides the Commissioner with a statement to the effect that he or she has retired from the workforce—the date on which the statement is so provided.

Rates of pension after postponement of payment

"110tc. (1) For the purposes of calculating the rate or amount of a benefit payable on a date worked out under section 110tb:

    (a)     if the benefit became payable on the date on which the person attained the age of 65 years—the person is taken to be entitled to standard age retirement pension under subsection 55 (1); and

    (b)     if the benefit did not become payable on the date mentioned in paragraph (a)—the person's age on the date on which the benefit became payable is substituted for the person's age on his or her last day of service; and

    (c)     the person's period of contributory service at the date of ceasing to be an eligible employee continues to be the person's period of contributory service; and

    (d)     the amount worked out under subsection (2) is taken to be the person's final annual rate of salary.

"(2) The amount mentioned in paragraph (1) (d) is an amount equal to the amount per annum that the Commissioner determines would

have been the final annual rate of salary of the person on the day immediately before the date on which the benefit became payable if:

  (a)     the person had not ceased to be an eligible employee; and

    (b)     the person had continued to occupy the office or position in respect of which the person's final annual rate of salary was calculated; and

    (c)     account were taken of any increase in salary that would have been received had the person continued to be an eligible employee and continued to occupy that office or position, other than an increase resulting from the person progressing to a higher level of salary within a graduated range of salaries applicable to the office or position held by the person; and

    (d)     there were excluded any allowance or part of a salary (other than an increase in salary mentioned in paragraph (c) that is to be taken into account) that would have been included in the person's