Document ID: chunk:federal_register_of_legislation:F2005L01913:body:0
Version: federal_register_of_legislation:F2005L01913
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Superannuation (PSS)
Maximum Benefits (2005-2006) Determination 2005

I,  MICHAEL JOHN SIMPSON, Manager of the Civilian Defined Benefit Schemes Administration Section, Commonwealth Superannuation Administration, Position No. 44, and delegate of the PSS Board, pursuant to rules 5.6.5 and 5.7.7 of the PSS Rules, DETERMINE as follows:

Dated this twenty-ninth day of June 2005

M. Simpson

Delegate of the PSS Board

1 Name of Determination

    This Determination is the Superannuation (PSS) Maximum Benefits
    (2005-2006) Determination 2005.

2 Commencement

       This determination shall take effect from and including 1 July 2005.

3 Maximum Benefits – Lump Sums

    For rules 5.6.5 and 5.7.7 of the PSS Rules, the tables in rules 5.6.1 and 5.7.1 have effect, for the financial year starting on 1 July 2005, 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 $47,235            $377,875
    $47,235 or more              8 times average salary
         but less than $75,570
    $75,570 or more              $151,140
         but less than $140,280  plus 6 times average salary
    $140,280 or more                $571,980
                                 plus 3 times average salary

4 Maximum Benefits – 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 2005, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table

AFP Preliminary Maximum Benefits

Pensions

Average Salary                     Preliminary

                                   Maximum Benefit

Less than $47,235                  $531,394
$47,235 or more                    11.25 times average salary
but less than $75,570
$75,570 or more                    $226,710
but less than $140,280             plus 8.25 times average salary
$140,280 or more                   $647,550
                                   plus 5.25 times average salary

5 Revocation

    The PSS (Maximum Benefits) Determination No 1, as amended, is revoked.

Note: