Document ID: chunk:federal_register_of_legislation:C2010C00246:clause:1_52
Version: federal_register_of_legislation:C2010C00246
Segment Type: clause
Provision Reference: sch 1 cl 52
Character Range: 7868–9405

52  Section 1065 (after Module B)
Insert:

Module BA—Pension supplement

Pension supplement

 1065‑BA1 The amount of a person's pension supplement depends on the person's maximum basic rate. There is a pension supplement amount for each maximum basic rate listed in the table in point 1065‑B1.

Amount of pension supplement

 1065‑BA2 The amount of a person's pension supplement is worked out by:
 (a) calculating the amount (the provisional supplement amount) that is 4% of the person's 1 July 2000 maximum basic rate; and
 (b) rounding off the provisional supplement amount in accordance with points 1065‑BA4 to 1065‑BA6.

Note: The pension supplement amounts are indexed 6 monthly in line with CPI increases (see sections 1191 to 1194).

 1065‑BA3 A person's 1 July 2000 maximum basic rate is the maximum basic rate that would have been the person's maximum basic rate if the rate had not changed since 1 July 2000.

Rounding off of provisional supplement amount

 1065‑BA4 If a provisional supplement amount is a multiple of $2.60, the amount of the pension supplement is the provisional supplement amount.

 1065‑BA5 If a provisional supplement amount is not a multiple of $2.60, the amount of the pension supplement is the provisional supplement amount rounded up or down to the nearest multiple of $2.60.

 1065‑BA6 If a provisional supplement amount is not a multiple of $2.60, but is a multiple of $1.30, the amount of the pension supplement is the provisional supplement amount rounded up to the nearest multiple of $2.60.