Document ID: chunk:federal_register_of_legislation:F2023L00807:body:0
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Superannuation (PSS)
Maximum Benefits (2023-2024)
Determination 2023

I, JARRED BROWN, Senior Manager, Governance & External Providers, Customer Operations, and Delegate of Commonwealth Superannuation Corporation, pursuant to rules 5.6.5 and 5.7.7 of the PSS Rules, in the Schedule to the Deed in force under section 4 of the Superannuation Act 1990, DETERMINE as follows:

Dated   14 June 2023

J BROWN
Delegate of Commonwealth Superannuation Corporation

1 Name of Determination

This Determination is the Superannuation (PSS) Maximum Benefits
(2023-2024) Determination 2023.

2 Commencement

       This determination takes effect on 1 July 2023.

3 Maximum Benefits – Lump Sums

For rule 5.6.5 of the PSS Rules, the table in rule 5.6.1 has effect, for the financial year starting on 1 July 2023, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table – Maximum Benefits

Average Salary            Maximum Benefit

Less than $85,000.00      $850,000.00

$85,000.00 and over       10 times average salary

       4                    Maximum Benefits – AFP Lump Sums

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.1 has effect, for the financial year starting on 1 July 2023, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table – AFP Preliminary Maximum Benefits –         Lump Sums
Average Salary                                                Preliminary Maximum Benefit

Less than $85,000.00                                          $850,000.00

$85,000.00 and over                                           10 times average salary

       5                    Maximum Benefits – AFP Pensions

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.2 has effect, for the financial year starting on 1 July 2023, 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 $85,000.00                                  $1,190,000.00

$85,000.00 and over                                   14 times average salary