Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:55:p35
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 55 (pt 35/83)
Character Range: 490570–493391

apply to, and on the same date as, a preserved benefit under Part 8.
11.2.4A At any time, a preserved benefit member is entitled to roll‑over the sum of all of their post‑1995 accumulated transfer amounts.
11.2.4B For the purposes of Rule 11.2.4A, a post‑1995 accumulated transfer amount of a preserved benefit member is an accumulated transfer amount in respect of a transfer amount which the preserved benefit member had transferred into the PSS scheme under Rule 11.1.1, after 31 December 1995, the entitlement to which did not arise from employment during a period of leave of absence without pay that commenced on or before that date (see Rule 11.3.4).

Fees for payment of accumulated transfer amounts
11.2.4C CSC may determine any fees to be charged in relation to a roll‑over requested under Rule 11.2.3 or Rule 11.2.4A and deduct them from the accumulated transfer amount prior to roll‑over.

Payment of accumulated transfer amount in relation to a release authority
11.2.5 Subject to the SIS Act and taxation legislation, where a member or former member has transferred a transfer amount into the PSS scheme under Rule 11.1.1, and CSC receives a release authority in respect of the member or preserved benefit member, CSC, must pay a lump sum amount in respect of the member or preserved benefit member.
The accumulated transfer amount for the member or preserved benefit member is to be reduced to take into account the payment of any amount under this Rule.

Division 3

Benefit entitlement on cessation

11.3.1 Subject to Rule 11.3.1A, the Transfer Multiple Amount in relation to a member is the amount calculated by the formula:

      where:

          FAS is the member's final average salary; and

          TA is the:

                      (i) if the transfer amount was received by the Board before 2 February 1994, the transfer amount plus interest, if any, accumulated to the day 12 months after the transfer amount was received; or

                      (ii) if the transfer amount was received by the Board after 1 February 1994:

                           (A) the transfer amount paid into the PSS Fund by the Board; or

                           (B) if the Board decides to use a later date under paragraph (ii)(B) of the definition of AS that follows, the amount equal to the total of the transfer amount paid into the PSS Fund by the Board and any interest accrued on that transfer amount to that later date; and

          AS is the member's average salary on:

                      (i) if the transfer amount was received by the Board before 2 February 1994, the day 12 months after the transfer amount was received; or

                      (ii) if the transfer amount was received by the Board after 1 February 1994:

                           (A) the date of receipt of the transfer