Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:16:p71
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 16 (pt 71/106)
Character Range: 305865–308675

the table; and

              (ii) in relation to the table in Rule 5.7.2, multiplying the results in paragraph (b) by 14 to determine the preliminary maximum benefit  quoted as a dollar amount in the first tier of the table;

         (d) ensuring that, on 1 July each year following 1 July 2008, the indexation factor referred to in paragraph (a) is applied to the average salary amount that was calculated by applying the indexation factor to the average salary amount in the previous year.

Reduction Multiple to be disregarded in certain cases
5.7.8 In deciding the date on which a person becomes a maximum benefits member, a Reduction Multiple must not be taken into account, however the benefit payable to the person is subject to reduction under Rule 16.4.4.

pART 6 — member's benefit options

      Note: Where a member had transferred an amount into the PSS scheme, an additional benefit accrual under Part 11 is payable to, or in respect of, the member.

Division 1

Benefit options
6.1.1 A member who ceases membership before minimum retiring age, for example on resignation or dismissal, but not by reason of death, and is not entitled to benefits under any other rule, is entitled to a preserved benefit of his/her final benefit accrual, or, as an alternative, may choose:
    (a) to be paid a lump sum of:
             (i) all his/her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable to the member if the sum of these amounts is less than $200;
             (ii) 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; or
         (b) 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 on the sale or transfer of all or part of an organisation, business, service, asset or function (see Division 6 of this Part); or
         (B) transfers his/her benefit 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); or
         (C) was a member for less than 3 months and he/she has another current period of membership (see Rule 6.1.3).
                 Note: Until specific conditions are met, a casual employee is not considered to have ceased membership simply because contributions are not being made (see Rule 6.1.2).
6.1.2 A casual member is not regarded as having ceased membership until the earliest of the date:
         (a) he/she has not made