Document ID: chunk:federal_register_of_legislation:C2009A00060:clause:5_1206gs:p2
Version: federal_register_of_legislation:C2009A00060
Segment Type: clause
Provision Reference: sch 5 cl 1206GS (pt 2/2)
Character Range: 111793–113967

rate as adjusted under subsection (1).
Note 2: The amount in step 2 is the amount worked out from the PS minimum rate as increased under subsection 1206GR(2), and as indexed under section 1192, but without the adjustment under subsection (1) of this section.
Note 3: For step 4, the amount that would, apart from this subsection, be the person's pension supplement amount is the amount worked out from the PS rate as increased under subsection 1206GR(1) and as indexed under section 1192.
 (3) A living cost indexation factor, worked out under section 1197 for each indexation day on or after 20 March 2013 for the person's pension MBR, is to be reduced by the brought forward PBLCI indexation amount, but not below 1.
Note: Once the brought forward PBLCI indexation amount becomes zero, there will be no further reduction of the factor.
Example: Assume that the living cost indexation factor worked out under section 1197 on 20 March 2013 is 1.005. The brought forward PBLCI indexation amount in relation to 20 March 2013 is 0.008 (as there has been no previous reduction). That indexation factor is reduced to 1 on 20 March 2013.
 Further assume that on 20 September 2013 the living cost indexation factor is 1.010. The brought forward PBLCI indexation amount in relation to 20 September 2013 is 0.003. That indexation factor is reduced to 1.007 on 20 September 2013.
 The brought forward PBLCI indexation amount in relation to later indexation days is now zero so there is no further reduction of the indexation factor.
 (4) In this section:
brought forward CPI indexation amount, in relation to a day, means:
 (a) if the brought forward PBLCI indexation amount in relation to the day is zero—zero; and
 (b) otherwise—0.008 less any reduction made under subsection (1) for a previous day.
brought forward PBLCI indexation amount, in relation to a day, means:
 (a) if the brought forward CPI indexation amount in relation to the day is zero—zero; and
 (b) otherwise—0.008 less any reduction made under subsection (3) for a previous day.

Subdivision F—Increases to pension PP (single) for persons residing in Australia who have not reached pension age and are in Australia