Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p46
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 106334–109019

or after the commencement of this section, the Statistician has changed or changes the reference base for the Consumer Price Index, then, for the purposes of the application of this Part after the change took place or takes place, regard shall be had only to index numbers published in terms of the new reference base.

"(4) If the prescribed percentage for the purposes of section 121 is or includes a fraction of one-tenth of 1 per centum—

(a) where that fraction is less than one-half of one-tenth—that fraction shall be disregarded; and
    (b) where that fraction is not less than one-half of one-tenth—that fraction shall be treated as one-tenth.

Increases in pensions.
"121. (1) Subject to this Part, if the all groups consumer price index number for the weighted average of the 6 State 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 6 State capital cities published by the Statistician in respect of the March quarter in any earlier year, not being a year earlier than the year that commenced on 1 July 1974, a person who was in receipt of a pension immediately before the commencement of that prescribed year is entitled to an increase, as ascertained in accordance with this section, in the rate at which the pension was payable immediately before the commencement of that prescribed year.

"(2) The increase provided for by sub-section (1) in the rate at which a pension was payable to a person immediately before the commencement of a prescribed year is the prescribed percentage of that rate.

"(3) For the purposes of this section, the prescribed percentage is a percentage ascertained in accordance with the formula—

100 (A-B)
B
where—

    A is the all groups consumer price index number for the weighted average of the 6 State 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 6 State capital cities published by the Statistician in respect of the March quarter of any year earlier than the year immediately preceding the prescribed year but not being earlier than the year that commenced on 1 July 1974.

Adjustment of increase in case of persons who become entitled to pension after previous increase.
"122. (1) Where a person would, but for this section, be entitled to an increase in the amount of the annual pension that was payable to the person immediately before the commencement of a prescribed year and—