Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:55:p77
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 55 (pt 77/83)
Character Range: 599208–601932

the first period by the Treasury bond rate for bonds with a 10 year term that is applicable to the financial year in which the first period occurs, and divide the result by 365.
        Round the result to 3 decimal places.
        The result is the applicable Treasury bond rate for the first period.
Step 4  Full financial years (if any)
        Use this step if a full financial year occurs immediately after the end of the first period and before the associate preserved benefit becomes payable. This is the second period.
        Identify the Treasury bond rate for bonds with a 10 year term that is applicable to the financial year.
        Round the result to 3 decimal places.
        The result is the applicable Treasury bond rate for the second period.
        Repeat this arrangement for each full financial year after the second period.
Step 5  Final period (if any)
        Use this step if:
           (a) there is any period between the end of a financial year and the time at which the associate preserved benefit first becomes payable; and
           (b) neither step 3 nor step 4 covers that period.
        This is the final period.
        Multiply the number of days in the final period by the Treasury bond rate for bonds with a 10 year term that is applicable to the financial year in which the final period occurs, and divide the result by 365.
        Round the result to 3 decimal places.
        The result is the applicable Treasury bond rate for the final period.

16.3.2 The benefit becomes payable at the later of the operative time and the relevant time.  The relevant time is the earlier or earliest of whichever of the following dates are applicable to the associate:
         (a) the date CSC decides that the associate is suffering from a terminal medical condition; or
         (b) the date CSC decides that the associate is unlikely, because of a physical or mental incapacity, ever to be able to work again in a job for which he/she is reasonably qualified by education, training or experience or could reasonably be qualified after retraining; or
         (c) if the associate is entitled to a payment under Rule 16.3.9 — the date CSC is satisfied that the associate departed from Australia permanently; or
         (d) the date notified to CSC under Rule 16.3.3; or
         (e) the date the associate reaches age 65.
16.3.3 The associate may give a written notice to CSC specifying a date that is not earlier than the date the associate reaches age 55.

Benefit options — on reaching certain ages
16.3.4 This rule applies to an associate whose associate preserved benefit has become payable on a date mentioned in paragraph 16.3.2(d) or (e).  The associate may choose:
         (a)