Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:16:p73
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 16 (pt 73/106)
Character Range: 310949–313720

is 50% or more of his/her final benefit accrual, convert the balance into a pension; or
    (b) to take his/her final benefit accrual as a pension; or
         (c) to combine his/her final benefit accrual with the benefit accruing under another current period of membership, provided the combined benefit does not exceed his/her maximum benefit (see Rules 5.2.20 and 5.3.20);

unless the member:

         (A) ceased membership before age 60 and remains in the workforce (see Rule 6.2.2); or
         (B) ceased membership on the sale or transfer of all or part of an organisation, business, service, asset or function (see Division 6 of this Part); or
         (C) transfers his/her benefits to an eligible superannuation scheme (see Rule 6.8.6), or joins an approved superannuation scheme (see Rule 6.8.10) or an authorised superannuation scheme (see Rule 6.8.11)

6.2.1A For the purposes of Rule 6.2.1(a) where:
         (a) the SIS Act permits the total of the final benefit accrual to be paid in cash, the lump sum is the final benefit accrual in respect of the member plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member; or
         (b) the SIS Act does not permit the total of the final benefit accrual to be paid in cash, the lump sum is the amount of the final benefit accrual in respect of the member permitted to be paid in cash under the SIS Act.
6.2.2 A member who ceases membership on voluntary retirement, resignation or dismissal on or after minimum retiring age and remains in the workforce is entitled to leave his/her final benefit accrual in the scheme as a preserved benefit, or, as an alternative, may choose:
          to be paid a lump sum of that part of his/her final benefit accrual that the SIS Act permits to be paid in cash and that does not exceed his/her accumulated member contributions, leaving the balance in the scheme as a preserved benefit;

unless the member:

    (A) ceased membership on or after age 60 (see Rule 6.2.1); or
         (B) ceased membership on the sale or transfer of all or part of an organisation, business, service, asset or function (see Division 6 of this Part); or
         (C) transfers his/her benefits to an eligible superannuation scheme (see Rule 6.8.6), or joins an approved superannuation scheme (see Rule 6.8.10) or an authorised superannuation scheme (see Rule 6.8.11).
6.2.5 A casual member is not regarded as having ceased membership until the earliest of the date:
         (a) he/she has not made contributions for more than 26 consecutive fortnights, provided periods of leave without pay where he/she is not allowed to pay contributions are not counted towards the 26 consecutive fortnights; or
         (b) CSC accepts a certification in