Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p20
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 48346–51092

the applicable terms or conditions of the RSA, the pension cannot be commuted, in whole or in part, except in the following circumstances:
 (a) the commutation results from the death of the pensioner or a reversionary pensioner;
 (b) the sole purpose of the commutation is:
 (i) to pay a superannuation contributions surcharge; or
 (ii) to give effect to an entitlement of a non‑member spouse under a payment split; or
 (iii) to meet the rights of a client to return a financial product under Division 5 of Part 7.9 of the Corporations Act 2001;
 (c) for a commutation in part—the account balance of the pension, immediately after the commutation, is equal to or greater than the minimum payment amount calculated in accordance with Schedule 5, as reduced by the amount of payments (excluding amounts paid by way of commutation) to the pensioner already made in the financial year in which the commutation occurs;
 (d) the pension has paid, in the financial year in which the commutation takes place, at least the minimum amount prescribed by subregulation (2).
 (2) For paragraph (1)(d), the minimum amount is the amount calculated using the formula:

where:
minimum annual amount means the minimum amount payable under the pension, in the financial year, calculated in accordance with Schedule 5.
days in payment period means the number of days in the period that:
 (a) begins on:
 (i) if the pension commenced in the financial year in which the commutation is to take place—the commencement day; or
 (ii) otherwise—1 July in that financial year; and
 (b) ends on the day on which the commutation is to take place.
days in financial year means the number of days in the financial year (365 or 366) in which the commutation takes place.

1.09  Interdependency relationships (Act s 20A)
 (1) For paragraph 20A(3)(a) of the Act, the following matters are to be taken into account in determining whether 2 persons have an interdependency relationship, or had an interdependency relationship immediately before the death of 1 of the persons:
 (a) all of the circumstances of the relationship between the persons, including (where relevant):
 (i) the duration of the relationship; and
 (ii) whether or not a sexual relationship exists; and
 (iii) the ownership, use and acquisition of property; and
 (iv) the degree of mutual commitment to a shared life; and
 (v) the care and support of children; and
 (vi) the reputation and public aspects of the relationship; and
 (vii) the degree of emotional support; and
 (viii) the extent to which the relationship is one of mere convenience; and
 (ix) any evidence suggesting that the parties intend the relationship to be permanent;
 (b) the existence of a statutory declaration signed by one of the persons