Document ID: chunk:federal_register_of_legislation:C2004A03334:body:0:p2
Version: federal_register_of_legislation:C2004A03334
Segment Type: other
Provision Reference: 
Character Range: 2784–5425

purposes of section 98b in relation to that prescribed year shall, notwithstanding any other provision of this Act, be deemed to be 7.2%.".

Commutation of pension benefits during a prescribed year
5. Section 98g of the Principal Act is amended by adding at the end the following sub-section:
"(3) In ascertaining for the purposes of sub-section (2), in relation to the commutation of portion of a pension benefit on or after 10 October 1986, the rate at which a pension benefit would have been payable to a person at the commencement of the prescribed year that commenced on 1 July 1986, the prescribed percentage for the purposes of section 98b in relation to that prescribed year shall, notwithstanding any other provision of this Act, be deemed to be 7.2%.".
6. After section 98g of the Principal Act the following section is inserted in Part XA:

Adjustment of increased rate
"98ga. (1) Notwithstanding any other provision of this Act (other than section 98f in its operation in relation to a reclassification that has effect in the period commencing on 10 October 1986 and ending on 30 June 1987 and section 98g in its operation in relation to the commutation of portion of a pension benefit in that period), where, because of the operation of another provision of this Part in relation to the prescribed year that commenced on 1 July 1986, the rate at which, but for this sub-section, a pension benefit would be payable on 10 October 1986 is higher than it would have been but for the operation of that provision of this Part, the rate at which that pension benefit is payable is decreased, with effect from and including 10 October 1986, by the difference between the first-mentioned rate and the rate that would have been the first-mentioned rate if the prescribed percentage for the purposes of section 98b in relation to that prescribed year had been 7.2%.

"(2) Where a pension benefit would, but for its suspension under section 35, have been payable to a person on 10 October 1986, that pension benefit shall, for the purposes of sub-section (1), be deemed to have been payable to that person on that day.".

PART III—AMENDMENTS OF THE DEFENCE FORCES RETIREMENT BENEFITS ACT 1948

Principal Act
7. The Defence Forces Retirement Benefits Act 19482 is in this Part referred to as the Principal Act.

Rate of invalidity pension payable on reclassification during a prescribed year
8. Section 84e of the Principal Act is amended by adding at the end the following sub-section:
"(2) In ascertaining for the purposes of sub-section (1), in relation to a reclassification that has effect on or after 10 October 1986, the rate at which