Document ID: chunk:federal_register_of_legislation:C2024C00465:section:41a:p2
Version: federal_register_of_legislation:C2024C00465
Segment Type: section
Provision Reference: s 41A (pt 2/2)
Character Range: 104502–105782

debit when the pension becomes payable to the elector;
the following provisions apply:
 (c) the Commonwealth must pay to the elector the difference between the commuted amount and:
 (i) the member's surcharge deduction amount; or
 (ii) if the member's surcharge deduction amount exceeds the commuted amount—so much of the surcharge deduction amount as does not exceed the commuted amount;
 (d) the amount per annum of the pension payable to the elector, on and after the day on which the election takes effect, is:
 (i) if subparagraph (ii) does not apply—the amount per annum referred to in paragraph (4)(b); or
 (ii) if the member's surcharge deduction amount exceeds the commuted amount—the amount per annum worked out by using the formula:

             where:
             basic rate means the amount per annum referred to in paragraph (4)(b).
             conversion factor is the factor that is applicable to the member under the determination made by CSC under section 124A.
  excess means the amount by which the member's surcharge deduction amount exceeds the commuted amount.
 (5) For the purposes of this section, an election is taken to have been made, and takes effect, on the day on which the notice of election is received by CSC.

Division 2—Children's pensions