Document ID: chunk:federal_register_of_legislation:F2024C01224:schedule:4:p2
Version: federal_register_of_legislation:F2024C01224
Segment Type: schedule
Provision Reference: sch 4 (pt 2/2)
Character Range: 284036–285915

linked pension is 1.00; and
 (b) the payment factor that applied on 1 July in the previous financial year was not 1.00;
payments made in respect of the current year and the period after (if any) are taken to be determined in accordance with clause 1 if they comply with the following conditions:
 (c) payment of the account balance over one of the following periods:
 (i) if the remaining term of the pension is greater than 12 months—that period;
 (ii) 12 months;
 (d) if payments are made in accordance with paragraph (c)—the provider has no obligation to make any other payment that, but for this clause, would have been determined on 1 July in the subsequent financial year.
8. An amount is taken to have been determined in accordance with clause 1 of this Schedule if the amount is:
 (a) not less than the amount determined in accordance with clause 1 of this Schedule, less 10 per cent of that amount; and
 (b) not greater than the amount determined in accordance with clause 1 of this Schedule, plus 10 per cent of that amount.
9. Clause 8 does not apply if clause 10 or 11 applies.
10. For the financial years commencing on 1 July 2008, 1 July 2009, 1 July 2010, 1 July 2019, 1 July 2020, 1 July 2021 and 1 July 2022, an amount is taken to have been determined in accordance with clause 1 if the amount is:
 (a) not less than 45% of the amount determined in accordance with clause 1; and
 (b) not greater than 110% of the amount determined in accordance with clause 1.
11. For the financial years commencing on 1 July 2011 and 1 July 2012, an amount is taken to have been determined in accordance with clause 1 if the amount is:
 (a) not less than 67.5% of the amount determined in accordance with clause 1; and
 (b) not greater than 110% of the amount determined in accordance with clause 1.

Table
Item  Term of pension remaining rounded in whole years  Payment Factor