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Superannuation (PSS)
Maximum Benefits (2007-2008) Determination 2007

Select Legislative Instrument 2007 No.

I,  MATTHEW ARTHUR CASTLE, Manager of the Australian Public Service Sector Defined Benefit Schemes, Commonwealth Superannuation Administration, Position No. 44, and Delegate of the PSS BoardAustralian Reward Investment Alliance, , pursuant to rules B5.6.5 and B5.7.7 of Section B of the PSS Rules, DETERMINE as follows:

Dated 7 June                                              2007

M CASTLE
Delegate of the PSS BoardAustralian Reward Investment Alliance

1 Name of Determination

    This Determination is the Superannuation (PSS) Maximum Benefits
    (2007-2008) Determination 2007.

2 Commencement

       This determination shall take effect from and including 1 July 2007.

3 Maximum Benefits – Lump Sums

    For rules B5.6.5 and B5.7.7 of the PSS Rules, the tables in rules B5.6.1 and B5.7.1 have effect, for the financial year starting on 1 July 2007, as if the amounts specified in the following table were substituted for the amounts specified in those tables:

Table

Maximum Benefits

Average Salary                   Maximum Benefit
    Less than $51,010            $408,080
    $51,010 or more              8 times average salary
         but less than $81,610
    $81,610 or more              $163,220
         But less than $151,500  plus 6 times average salary
    $151,500 or more             $617,720
                                 plus 3 times average salary

4 Maximum Benefits – Pensions

    For rule B5.7.7 of the PSS Rules, the table in rule B5.7.2 have effect, for the financial year starting on 1 July 2007, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table

AFP Preliminary Maximum Benefits

Pensions

Final Average Salary              Preliminary Maximum Benefit
Less than $51,010                 $573,863
$51,010 or more                   11.25 times average salary
but less than $81,610
$81,610 or more                   $244,830
but less than $151,500            plus 8.25 times average salary
$151,500 or more                  $699,330
                                  plus 5.25 times average salary