Document ID: chunk:federal_register_of_legislation:C2022C00261:section:52:p36
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 52 (pt 36/48)
Character Range: 117021–119599

equal to the relevant percentage in Table 1 in Schedule 4 of the deceased member's reduced notional pension and if he or she so elects:
          (i) that part of the employer benefit is so converted; and
          (ii) the balance of the preserved benefit is payable to him or her as a lump sum.
(5) In this rule:
"notional pension", in relation to a deceased former member, means the pension that would have been payable to the deceased former member if, on the date of his or her death, he or she had become entitled, under Division 1 of Part 3, to elect to have his or her employer benefit converted into a pension and had elected to do so;
"reduced notional pension", in relation to a deceased former member, means the pension that would have been payable to the deceased former member if, on the date of his or her death, he or she:
     (a) had become entitled, under Division 1 of Part 3, to elect to have part of his or her employer benefit converted into a pension; and
     (b) had elected to convert into a pension the same amount of his or her employer benefit as his or her spouse elected under paragraph (4) (b) to convert into a pension.
Part 6—Increases in Maximum Benefit Limits, Pensions and Certain Unfunded Preserved Benefits
Division 1—Increases in Maximum Benefit Limits
Increases in maximum benefit limits
55. (1) This rule is to have effect, on 1 July 1991 and each subsequent 1 July, as if there were substituted for:
     (a) each amount referred to in the definition of "lump sum maximum benefit multiple" in Schedule 3; and
     (b) each amount referred to in the definition of "pension maximum benefit multiple" in Schedule 3;
or for the amount last substituted for that amount under this rule (in this rule called the "base amount") a new amount calculated by:
     (c) multiplying the base amount by the index number for the March quarter immediately preceding that 1 July; and
     (d) dividing the product by the index number for the previous March quarter.
(2) Subject to subrule (3), if at any time, whether before or after the commencement of these Rules, the Statistician publishes an index number in respect of a particular March quarter in substitution for an index number previously published, that later index number is disregarded for the purposes of this rule.
(3) If at any time the Statistician changes the reference base for the index numbers, regard is to be had, for the purposes of the operation of this rule after the change took place, only to index numbers published in terms of the new reference base.
(4) Where an amount to