Document ID: chunk:federal_register_of_legislation:F2023C01022:reg:58:p1
Version: federal_register_of_legislation:F2023C01022
Segment Type: reg
Provision Reference: reg 58 (pt 1/3)
Character Range: 163099–165717

58  Amount to be paid to non‑member spouse—optional lump sum from remaining benefits
 (1) This regulation applies in relation to the superannuation interest if:
 (a) the non‑member spouse is entitled to be paid the amount of the first splittable payment in respect of the interest after the operative time under paragraph 57(2)(a); and
 (b) the member spouse may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take the whole, or a part, of the remaining benefits in respect of the interest as a lump sum; and
 (c) the non‑member spouse has served a request, in accordance with Form 4 in Schedule 1, on the trustee of the plan requesting that the non‑member spouse be paid, as a lump sum, the whole, or a proportion, of the remaining base amount allocated to the non‑member spouse in relation to the interest; and
 (d) any choice by the member spouse to be paid the amount requested by the non‑member spouse will not cause the member spouse to lose the right to take the remaining part of the benefits in respect of the interest as a pension.
 (2) If the non‑member spouse has requested to be paid, as a lump sum, the whole of the remaining base amount allocated to the non‑member spouse in relation to the superannuation interest:
 (a) the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (3); and
 (b) the non‑member spouse is entitled to be paid that amount; and
 (c) the non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
 (3) For paragraph (2)(a), the amount of the lump sum is calculated in accordance with the following formula:

  where:
BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest.
X is the amount of the first splittable payment paid to the non‑member spouse under paragraph 57(2)(a).
Comm has the same meaning as in subregulation 51(3).
Py+m has the same meaning as in subregulation 51(3).
 (4) If the non‑member spouse has requested to be paid, as a lump sum, a proportion of the remaining base amount allocated to the non‑member spouse in relation to the superannuation interest:
 (a) the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (5) (the minimum lump sum); and
 (b) the non‑member spouse is entitled to be paid:
 (i) that amount; and
 (ii) the amount, calculated in accordance