Document ID: chunk:federal_register_of_legislation:C2023C00402:section:40
Version: federal_register_of_legislation:C2023C00402
Segment Type: section
Provision Reference: s 40
Character Range: 59523–60050

40  Pensions to be paid in fortnightly instalments
 (1) Pensions under this Act are payable in fortnightly instalments.
 (2) The amount of a fortnightly instalment of a pension is the sum of the daily amount of the pension for each day that is in the fortnight and is a day for which the pension was payable.
 (3) The daily amount of the pension for a day is 1/365 of the annual amount of the pension, worked out using the annual rate of the pension on that day and rounded to the nearest cent (rounding half a cent upwards).