Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p30
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 75047–77782

Regulations; and
 (ii) during any period of 12 months by a rate not exceeding either:
 (A) 5% per annum; or
 (B) the rate of increase in the last Consumer Price Index (All Capital Cities) for a quarter to be published by the Australian Statistician before the end of that period of 12 months compared with the Consumer Price Index (All Capital Cities) published for the same quarter in the preceding year.
non‑commutable pension means a pension provided under terms and conditions of an RSA that:
 (a) meet the standards of subregulation 1.07(3A); and
 (b) ensure that, if the pension is commuted under subparagraph 1.07(3A)(e)(i), the resulting eligible termination payment cannot be cashed unless:
 (i) the purpose of the commutation is to cash an unrestricted non‑preserved benefit; or
 (ii) before commutation, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'.
OSS Laws means:
 (a) the Occupational Superannuation Standards Act 1987 as in force immediately before the commencement of section 5 of the Occupational Superannuation Standards Amendment Act 1993; and
 (b) the Occupational Superannuation Standards Regulations.
permanent incapacity, in relation to an RSA holder, means ill‑health (whether physical or mental), where the trustee is reasonably satisfied that the RSA holder is unlikely, because of the ill‑health, to engage in gainful employment for which the RSA holder is reasonably qualified by education, training or experience.
permanent resident means a holder of a permanent visa under the Migration Act 1958 that has not ceased to be in effect.
preservation age means:
 (a) for a person born before 1 July 1960—55 years; or
 (b) for a person born during the year 1 July 1960 to 30 June 1961—56 years; or
 (c) for a person born during the year 1 July 1961 to 30 June 1962—57 years; or
 (d) for a person born during the year 1 July 1962 to 30 June 1963—58 years; or
 (e) for a person born during the year 1 July 1963 to 30 June 1964—59 years; or
 (f) for a person born after 30 June 1964—60 years.
retirement has the meaning given by subregulation (4).
severe financial hardship has the meaning given by subregulation (5).
SIS changeover day, in relation to a member of a regulated superannuation fund (within the meaning of the SIS Regulations) has the same meaning as the term 'changeover day' has in Part 6 of those Regulations.
student visa has the same meaning as in the Migration Act 1958.
temporary incapacity, in relation to an RSA holder who has ceased to be gainfully employed (including an RSA holder who has ceased temporarily to receive any gain or reward under a continuing arrangement