Document ID: chunk:federal_register_of_legislation:C2018C00341:clause:1_47
Version: federal_register_of_legislation:C2018C00341
Segment Type: clause
Provision Reference: sch 1 cl 47
Character Range: 27735–30016

47  Transitional—operative time before commencement time and retired Judge in receipt of pension
(1) This item applies if:
 (a) a splitting agreement or splitting order relates to a superannuation interest under the Judges' Pension Act of a retired Judge who was appointed as a Judge before the commencement time; and
 (b) the operative time in relation to the agreement or order is before the commencement time; and
 (c) immediately before the commencement time, the retired Judge is in receipt of a retirement pension in respect of the superannuation interest; and
 (d) the retired Judge, and the non‑member spouse in relation to the superannuation interest, are both alive at the commencement time.

Immediate transitional pension for non‑member spouse
(2) The non‑member spouse in relation to the superannuation interest is entitled to an immediate transitional pension from the commencement time at the rate calculated under the item 48 orders by reference to the transfer amount.
(3) An immediate transitional pension is due daily but is payable monthly.
(4) An immediate transitional pension is payable out of the Consolidated Revenue Fund, which is appropriated accordingly.

Reduction of retirement pension
(5) The annual rate of the retirement pension payable under the Judges' Pension Act is reduced from the commencement time to the amount calculated under the item 48 orders.
(6) However, if the non‑member spouse dies before the retired Judge, subitem (5) stops applying in relation to the retirement pension.

No reduction of other pensions
(7) The reduced annual rate of the retirement pension under subitem (5) is to be disregarded in working out the rate of the following pensions if they become payable after the commencement time:
 (a) a pension under section 8 of the Judges' Pensions Act;
 (b) a non‑standard pension.

Splitting of immediate transitional pension
(8) If:
 (a) a splitting agreement or splitting order is made after the commencement time; and
 (b) the agreement or order relates to an immediate transitional pension;
the Judges' Pensions Act, as amended by this Schedule, applies in relation to the pension as if the pension were:
 (c) a superannuation interest under that Act; and
 (d) a standard pension payable in respect of that interest.