Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:1_154ab
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 1 cl 154AB
Character Range: 24094–25527

154AB  Determination with respect to surcharge deduction amount
 (1) The Board must, in accordance with advice received from the Australian Government Actuary, determine in writing, in relation to persons to whom standard age retirement pension, standard early retirement pension, invalidity pension or a deferred benefit by way of any such pension has become payable, the conversion factor that, having regard to:
 (a) a person's age when a benefit becomes payable to the person; and
 (b) other relevant factors (if any);
is applicable for the purpose of working out, in relation to the person, the yearly amount that would have to be paid to discharge a liability equal to the person's surcharge deduction amount.
 (2) The Board must, in accordance with advice received from the Australian Government Actuary, determine in writing, in relation to persons to whom an additional age retirement pension, an additional early retirement pension or a deferred benefit by way of any such pension has become payable, the conversion factor that, having regard to:
 (a) a person's age when a benefit becomes payable to the person; and
 (b) other relevant factors (if any);
is applicable for the purpose of working out, in relation to the person, the yearly amount that would have to be paid to discharge a liability equal to the person's surcharge deduction amount.
 (3) A determination under this section must be published in the Gazette.