Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:16:p102
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 16 (pt 102/106)
Character Range: 387142–389958

his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable in respect of the preserved benefit member, with any amount that exceeds the member's accumulated member contributions being treated as a preserved benefit for the purposes of the SIS Act; or
             (iii) convert the balance into a pension.

Benefit options on retrenchment after minimum retiring age
8.4.4 A preserved benefit member who is retrenched on or after minimum retiring age under the conditions set out in Rule 8.4.1 may choose:
(a) to be paid a lump sum calculated under Rule 8.4.4A and:

             (i) retain the balance, if any, of his/her preserved benefit in the PSS scheme; or
             (ii) roll‑over the balance, if any, of his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable in respect of the preserved benefit member; or
             (iii) if the balance is 50% or more of his/her preserved benefit, convert the balance into a pension; or
         (aa) to be paid a lump sum of less than the part of his/her preserved benefit that is permitted to be paid in cash under the SIS Act and

             (i) retain the balance of his/her preserved benefit in the PSS scheme; or
             (ii) roll‑over the balance of his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable in respect of preserved benefit member; or
             (iii) if the balance is 50% or more of his/her preserved benefit, convert the balance into a pension; or
         (b) to take his/her preserved benefit as a pension; or
         (c) to retain his/her preserved benefit in the PSS scheme; or
         (d) to roll‑over his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable to the preserved benefit member; or
8.4.4A For the purposes of Rule 8.4.4(a) where:
         (a) the SIS Act permits the total of the preserved benefit to be paid in cash, the lump sum is the preserved benefit in respect of the preserved benefit member plus the superannuation guarantee additional amount (if any) that is applicable in respect of the preserved benefit member; or
         (b) the SIS Act does not permit the total of the preserved benefit to be paid in cash, the lump sum is the amount of the preserved benefit in respect of the preserved benefit member permitted to be paid in cash under the SIS Act.
Division 5

Preserved benefit ceases to be applicable
8.5.1 A preserved benefit ceases to be applicable to a preserved benefit member on the earliest of the following dates:
         (a) the date the preserved benefit becomes fully payable to, or in respect of, him/her under this Part; or
         (b) the date he/she again becomes a member, if CSC is