Document ID: chunk:federal_register_of_legislation:C2024C00465:section:49e
Version: federal_register_of_legislation:C2024C00465
Segment Type: section
Provision Reference: s 49E
Character Range: 134135–135554

49E  Operative time during payment phase—reduction of standard pension or lump sum amount
 (1) If, at the operative time, standard pension is payable to the member spouse in respect of the original interest, then the annual rate of that pension is reduced to the amount calculated under the Orders.

Reduction of later standard pensions
 (1A) If:
 (a) the annual rate of a standard pension (the first pension) payable to the member spouse is reduced under subsection (1); and
 (b) after the operative time, another standard pension (the later pension) becomes payable to the member spouse;
then the annual rate of the later pension is reduced to the amount calculated under the Orders.

Reduction in later payments of lump sum amounts
 (1B) If:
 (a) the annual rate of a standard pension payable to the member spouse is reduced under subsection (1); and
 (b) after the operative time, a lump sum amount becomes payable, in respect of the member spouse, under section 32, 48, 48A, 56, 57 or 77;
then the lump sum amount is reduced to the amount calculated under the Orders.
 (2) A reduction under this section is to be disregarded in calculating the amount of any non‑standard pension that later becomes payable.
Note: For example, the reduction will be disregarded in calculating the amount of pension under section 42 payable to a child of the member spouse after the member spouse's death.

Division 4—Miscellaneous