Document ID: chunk:federal_register_of_legislation:C2022C00261:section:52:p37
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 52 (pt 37/48)
Character Range: 119389–122028

for the index numbers, regard is to be had, for the purposes of the operation of this rule after the change took place, only to index numbers published in terms of the new reference base.
(4) Where an amount to be substituted under this rule is not a multiple of $10, it is increased to the nearest multiple of $10.
(5) In this rule:
"index number", in relation to a quarter, means the amount of the full‑time adult average weekly ordinary time earnings first published by the Statistician for the middle month of that quarter.
Division 2—Increases in Pensions and Certain Unfunded Preserved Benefits
Increases in pensions and certain unfunded preserved benefits
56. (1) Subject to this Part, if the all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of the year immediately preceding a prescribed year exceeds the highest all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of any earlier year, not being a year earlier than the year that commenced on 1 July 1989, then:
     (a) a person (in this section called the "pensioner") who was in receipt of a pension immediately before the commencement of that prescribed year is entitled to an increase in the rate at which the pension was payable immediately before the commencement of that prescribed year; and
     (b) where, immediately before the commencement of that prescribed year, a preserved benefit is applicable to a person, or has become payable in respect of a deceased person but has not been paid, the amount of the unfunded employer benefit included in the preserved benefit in relation to that person immediately before the commencement of that year is increased.
(2) The increase provided for by subrule (1) in the rate at which a pension was payable to a person, or in the amount of the unfunded preserved benefit in relation to a person, immediately before the commencement of a prescribed year (in this rule called the "relevant prescribed year"), is the percentage of that rate or amount that represents A – B expressed as a percentage of B, where:
A is the all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of the year immediately preceding the prescribed year; and
B is the highest all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of any year earlier than the year that