Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:16:p101
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 16 (pt 101/106)
Character Range: 384636–387420

transfer of the organisation, business, service, asset or function; and
         (e) has not reached his/her maximum retiring age;
may choose, within three months after the date of the retrenchment:
         (A) any one of the options in Rule 8.4.2 if he/she is retrenched before 1 July 2000 and before minimum retiring age; or
         (B) any one of the options in Rule 8.4.3 if he/she is retrenched on or after 1 July 2000 and before minimum retiring age; or
         (C) any one of the options in Rule 8.4.4 if he/she is retrenched on or after minimum retiring age.

Benefit options on retrenchment before 1 July 2000 and before minimum retiring age
8.4.2 A preserved benefit member who is retrenched before 1 July 2000 and before minimum retiring age under the conditions set out in Rule 8.4.1 may choose:
         (a) to retain his/her preserved benefit in the PSS scheme; or
         (b) to take his/her preserved benefit as a pension; or
         (c) to roll‑over his/her preserved benefit; or
         (d) to be paid a lump sum of that part of his/her preserved benefit that the SIS Act permits to be paid in cash, or a lump sum of less than that amount, and:
             (i) retain the balance of his/her preserved benefit in the PSS scheme; or
             (ii) roll‑over the balance of his/her preserved benefit; or
             (iii) if the balance is 50% or more of his/her preserved benefit, convert the balance into a pension.

Benefit options on retrenchment on or after 1 July 2000 and before minimum retiring age
8.4.3 A preserved benefit member who is retrenched on or after 1 July 2000 and before minimum retiring age under the conditions set out in Rule 8.4.1 may choose:
         (a) to retain his/her preserved benefit in the PSS scheme; or
         (b) to take his/her preserved benefit as a pension; or
         (c) to roll‑over his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable to the preserved benefit member, with any amount that exceeds the member's accumulated member contributions being treated as a preserved benefit for the purposes of the SIS Act; or
         (d) to be paid a lump sum of that part of his/her preserved benefit that the SIS Act permits to be paid in cash and that does not exceed his/her accumulated member contributions, or a lump sum of less than that amount, and:
             (i) retain the balance of his/her preserved benefit in the PSS scheme; or
             (ii) roll‑over the balance of his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable in respect of the preserved benefit member, with any amount that exceeds the member's accumulated member contributions being treated as a preserved benefit for the purposes