Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:55:p80
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 55 (pt 80/83)
Character Range: 606841–609698

becomes payable, CSC must pay the benefit as a lump sum to his/her legal personal representative or, if no legal personal representative can be found, to any individual or individuals that CSC determines.

Payment of lump sum — departed temporary resident
16.3.9 An associate is to be paid his/her associate preserved benefit as a lump sum if:
         (a) CSC is satisfied that subregulation 6.20B(1A) of the Superannuation Industry (Supervision) Regulations 1994 has been complied with; and
         (b) the payment is permitted by the SIS Act.

Access to all or part of associate preserved benefit
16.3.10 An associate who applies for the early release of his/her associate preserved benefit on the grounds of severe financial hardship may, at any time, choose to be paid a lump sum to the value determined in accordance with the SIS Act and have the balance of the associate preserved benefit (if any) remain in the scheme.
16.3.11 An associate who applies for the early release of his/her associate preserved benefit on compassionate grounds may, at any time, choose to be paid a lump sum to the value determined in accordance with the SIS Act and have the balance of the associate preserved benefit (if any) remain in the scheme.
16.3.12 An associate who has been paid a lump sum under Rules 16.3.10 or 16.3.11 can be paid further amounts under those Rules provided that any further payments have been determined in accordance with the SIS Act.

Payment of amounts by CSC to the Commonwealth
16.3.13 When the funded component, or part of that component, becomes payable, an equal amount must be paid by CSC out of the PSS Fund to the Commonwealth.
Division 4

Operative time during growth phase — reduction of benefits
16.4.1 This Division applies if:
         (a) at the operative time, standard pension is not payable in respect of the original interest; and
         (b) the original interest is not an entitlement to associate preserved benefit.

Reduction of accumulated contributions etc
16.4.2 At the operative time the following amounts are reduced in respect of the original interest:
         (a) the accumulated member contributions are reduced by the member contributions component; and
         (b) the accumulated productivity contributions are reduced by the productivity contributions component; and
         (c) the accumulated transfer amount and the Transfer Multiple Amount are reduced by the additional accumulation component.

Reduction of benefit multiple where member spouse not a preserved benefit member
16.4.3 Where the member spouse is not a preserved benefit member the Benefit Accrual Multiple (see Divisions 2 and 3 of Part 5) is reduced in respect of the original interest by the Reduction Multiple, which is calculated by multiplying the Benefit Accrual Multiple immediately before the operative time by the separation