Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p29
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 29/52)
Character Range: 141549–144247

the pension to be commuted;
 (B) the variation or cessation of pension payments in respect of a child of the deceased; and
 (c) the pension is transferable to another person only on the death of the beneficiary (primary or reversionary, as the case may be); and
 (d) the capital value of the pension and the income from it cannot be used as a security for a borrowing.
 (9B) Rules for the provision of a benefit do not meet the standards of any of subregulations (2) to (9A) if, in relation to the death of the beneficiary on or after 1 July 2007, the pension is transferred or paid to a person who would not be eligible to be paid a benefit in the form of a pension under paragraph 6.21(2)(b) or subregulation 6.21(2A) or (2B).
 (9C) If a pension is paid from a successor fund in accordance with rules to which subparagraph (9A)(b)(iv) applied in the original fund, the pension meets the standards of subregulation (9A).
 (10) Despite section 7 of the Income Tax Assessment (1936 Act) Regulation 2015, for a pension that has a commencement day on or after 20 September 2004 and on or before 31 December 2004, one of the following life tables are to be used in ascertaining the life expectancy of a person under this regulation:
 (a) the most recently published Australian Life Tables;
 (b) the 1995‑97 Australian Life Tables.
 (11) In this regulation:
indexation arrangement, in relation to a pension, means an arrangement specified in the rules for the provision of the pension that:
 (a) results in the total amount of pension payments in each year:
 (i) increasing by the same percentage factor; or
 (ii) being adjusted in line with movements in the Consumer Price Index; or
 (iii) being adjusted in line with movements in an index of average weekly earnings published by the Australian Statistician; or
 (iv) being adjusted in accordance with subparagraph (ii) or (iii) but with an increase capped at a maximum level; and
 (b) ensures that, unless APRA otherwise approves, an adjustment is made at least annually to the amount of the pension payments.

1.06A  Standards for certain innovative superannuation income streams
 (1) This regulation applies to either of the following (the governing conditions):
 (a) a contract for the provision of a benefit supported by a superannuation interest (within the meaning of the 1997 Tax Act);
 (b) the rules for the provision of a benefit supported by a superannuation interest (within the meaning of that Act).
 (2) The governing conditions meet the standards of this subregulation if:
 (a) they neither meet the standards in subregulation 1.05(11A) nor the standards in subregulation 1.06(9A) (as applicable); and
 (b) they comply with subregulation