Document ID: chunk:federal_register_of_legislation:C2025C00162:section:92t
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 92T
Character Range: 443255–444992

92T  Accrual of bonus periods

Full‑year bonus period
 (1) The first bonus period that accrues to a person is the full‑year period of the person's accruing membership of the pension bonus scheme:
 (a) that began on whichever of the following dates is applicable:
 (i) if the person was an accruing member of the pension bonus scheme on the date the person's registration as a member took effect—the date the registration took effect;
 (ii) in any other case—the date on which the person first became an accruing member of the pension bonus scheme; and
 (b) for which the person passes the work test.
Note: Accruing membership is defined by section 92N.
 (2) Each succeeding full‑year period of the person's accruing membership of the pension bonus scheme:
 (a) that is specified in the person's claim for pension bonus; and
 (b) for which the person passes the work test;
is a bonus period that accrues to the person.

Part‑year bonus period
 (3) A part‑year period of the person's accruing membership of the pension bonus scheme is a bonus period that accrues to the person if:
 (a) the person passes the work test for that period; and
 (b) the person specifies the period in the person's claim for pension bonus; and
 (c) the period begins immediately after the end of a full‑year bonus period that accrues to the person; and
 (d) the period is the last bonus period that accrues to the person.
Note: Accruing membership is defined by section 92N.

Bonus periods must be consecutive
 (4) A person cannot accrue more than one bonus period unless:
 (a) the bonus periods are consecutive; or
 (b) the bonus periods are separated only by a period of non‑accruing membership.

Division 5—Passing the work test

Subdivision A—The work test