Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:55:p38
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 55 (pt 38/83)
Character Range: 498230–501024

any) by which the Transfer Multiple Amount exceeds the accumulated transfer amount; or
             (iii) roll‑over the accumulated transfer amount.
11.3.7A A member may not elect to preserve his/her accumulated transfer amount, together with the amount (if any) by which the Transfer Multiple Amount exceeds the accumulated transfer amount, in the PSS scheme under Rule 11.3.7 where no part of his/her final benefit accrual is preserved in the PSS scheme under Part 6.

Invalidity benefits

11.3.8 A member who:

         (a) transferred a transfer amount into the PSS scheme under Rule 11.1.1, before 1 January 1996; and

         (b) ceases to be a member by reason of invalidity retirement before age 60 and was not a limited benefits member; and

         (c) chooses under the conditions set out in Part 6 to take the whole of his/her invalidity benefit accrual as a pension, or to be paid a lump sum of some or all of his/her accumulated member contributions and to convert the balance of his/her invalidity benefit accrual into a pension;

is entitled:
             (i) if he/she chooses to take his/her invalidity benefit accrual as a pension — to additional pension, calculated by dividing his/her Transfer Multiple Amount by 11; or
             (ii) if he/she chooses to be paid a lump sum of some or all of his/her accumulated member contributions — to choose to be paid a lump sum of some or all of that part of his/her Transfer Multiple Amount that is not required under the SIS Act to be preserved and to convert the balance of the Transfer Multiple Amount that was not paid as a lump sum into additional pension, calculated by dividing the balance of the Transfer Multiple Amount by 11.

11.3.9 A member who:

         (a) transferred a transfer amount into the PSS scheme under Rule 11.1.1, before 1 January 1996; and

         (b) ceases to be a member by reason of invalidity retirement before age 60 and was a limited benefits member on cessation of membership;

is entitled to:
             (i) payment of whichever is the greater of his/her accumulated transfer amount or his/her Transfer Multiple Amount; or
             (ii) roll‑over the accumulated transfer amount.

Maximum benefits
11.3.10 A member who:

         (a) transferred a transfer amount into the PSS scheme under Rule 11.1.1, before 1 January 1996; and

         (b) chooses under Rule 11.3.5 or Rule 11.3.8 to convert all or part of his/her Transfer Multiple Amount to additional pension;
is taken to have become a maximum benefits member on the first contribution due day during his/her period of membership on which the amount in respect of the year in which the contribution due day falls, as shown opposite the member's average salary:
             (i) in the Table Maximum Benefits in Rule 5.6.1 (as