Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:55:p39
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 55 (pt 39/83)
Character Range: 500785–503543

due day during his/her period of membership on which the amount in respect of the year in which the contribution due day falls, as shown opposite the member's average salary:
             (i) in the Table Maximum Benefits in Rule 5.6.1 (as amended by determination of CSC under Rule 5.6.5 from time to time) applicable in that year; or
             (ii) in the relevant Table in Division 7 of Part 5 (as amended by determination of CSC under Rule 5.7.7 from time to time) applicable in that year, less, if the member has received or is entitled to receive an adjustment payment under the Australian Federal Police Act 1979, the adjustment payment received, or entitled to be received;

is equalled or exceeded by the amount calculated by the following formula:

where:

                  BAM is the Benefit Accrual Multiple (see Divisions 2 and 3 of Part 5) plus, if membership ceased on invalidity retirement before age 60, the Invalidity Multiple (see Divisions 4 and 5 of Part 5), applicable to the member on the contribution due day; and

                  AS is the member's average salary on the contribution due day; and

                  TM is the member's Transfer Multiple calculated by using the formula in Rule 11.3.1 with the terms as defined in that paragraph, but replacing the FAS factor in that formula by 1.

11.3.11 Any member contributions paid by the member subsequent to the contribution due day ascertained under Rule 11.3.10, plus the interest (if any) on these contributions in accordance with a determination or determinations by CSC as to rates of interest and method of allocation, are payable to the former member.
11.3.11A In deciding the date on which a person becomes a maximum benefits member, a Reduction Multiple must not be taken into account, however the benefit payable to the person is subject to reduction under Rule 16.4.4.

Payment of preserved benefits to former member
11.3.12 An accumulated transfer amount, or part of such accumulated transfer amount, that has been preserved in the PSS scheme, as further accumulated until payment, is payable to the former member under the same conditions as apply to, and on the same date as, a preserved benefit under Part 8.
11.3.13 The amount preserved in the PSS scheme (if any) by which the Transfer Multiple Amount exceeded the accumulated transfer amount on cessation, accumulated until payment by the method set out in Rules 8.6.2 and 8.6.3 in relation to an unfunded preserved benefit, is payable to the former member under the same conditions as apply to, and on the same date as, a preserved benefit under Part 8.
11.3.14 A preserved benefit member who preserved in the PSS scheme:

         (a) the whole of his/her accumulated transfer amount; and

         (b)