Document ID: chunk:federal_register_of_legislation:C2004A04205:body:0:p28
Version: federal_register_of_legislation:C2004A04205
Segment Type: other
Provision Reference: 
Character Range: 70682–73635

is taken, after that commencement, to have been made by the Commonwealth Superannuation Board of Trustees No. 2 for the purposes of that subsection of the Principal Act as amended by this Act.

Deferred benefits

  48. Section 136 of the Principal Act is amended:

  (a) by inserting after paragraph (2) (e) the following paragraph:

      "(ea) if:

             (i) a deferred benefit by way of invalidity pension is payable to the person under section 67 or 70 but a deferred benefit by way of a lump sum benefit is not so payable; and

            (ii) productivity benefit became payable in respect of the person when he or she ceased to be an eligible employee;

         the deferred benefit is to include a lump sum benefit equal to the person's accumulated employer contributions;";

  (b) by inserting after paragraph (2b) (b) the following paragraph:

      "(ba) if:

             (i) a deferred benefit by way of spouse's pension is payable in respect of the person under section 82 or 85 but a deferred benefit by way of a lump sum benefit is not so payable; and

             (ii) productivity benefit became payable in respect of the person when he or she ceased to be an eligible employee;

         the deferred benefit is to include a lump sum benefit equal to the person's accumulated employer contributions;";

  (c) by inserting after paragraph (2b) (r) the following paragraph:

      "(ra) if:

             (i) a deferred benefit by way of orphan pension is payable in respect of the person under section 98 or 100 but a deferred benefit by way of a lump sum benefit is not so payable; and

             (ii) productivity benefit became payable in respect of the person when he or she ceased to be an eligible employee;

         the deferred benefit is to include a lump sum benefit

         equal to the person's accumulated employer contributions;".

Circumstances in which person entitled to deferred benefits

  49. Section 139 of the Principal Act is amended:

    (a)     by omitting from paragraph (2) (a) all the words from and including "incapable (otherwise than temporarily)" to and including "considers relevant)" and substituting "totally and permanently incapacitated within the meaning of Part IVa";

    (b)    by omitting from subparagraph (2) (a) (i) "so incapable" and substituting "so incapacitated";

    (c)     by omitting from paragraph (3) (a) "incapable of performing the duties referred to in that paragraph" and substituting "totally and permanently incapacitated".

Election for transfer value by persons in relation to whom deferred benefits are applicable

  50. (1) Section 139a of the Principal Act is amended:

     (a)     by omitting from subsection (1a) "Minister" and substituting "Board";

   (b)    by inserting after subsection (1a) the following subsections:

     "(1b) The Minister may, by instrument, formulate principles with respect to the giving of directions by the Board under