Document ID: chunk:federal_register_of_legislation:C2004A03971:section:365:p17
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 365 (pt 17/34)
Character Range: 170628–173287

way of invalidity pension is payable to the person in accordance with section 68 or 71, the annual rate of that pension is an amount per annum equal to the amount calculated in accordance with the formula:

2.5×F2×ABC;

    (g) if a deferred benefit by way of a lump sum benefit is payable to the person in accordance with section 68 or 71, the lump sum benefit is an amount equal to the sum of the person's accumulated contributions and the person's accumulated employer contributions (if any);

    (h) if a deferred benefit of a lump sum benefit is payable to the person in accordance with section 69, 72 or 73, the lump sum benefit is an amount equal to the sum of:

(i) 31/2 times the person's accumulated basic contributions; and

(ii) the person's accumulated employer contributions (if any); and

(iii) the person's accumulated supplementary contributions (if any);

where:

F1 is such factor as, having regard to the age of the person on the day on which the deferred benefits become payable, is applicable in accordance with Table 1 in Schedule 11; and

F2 is such factor as, having regard to the age of the person on the day on which the deferred benefits become payable, is applicable in accordance with Table 2 in Schedule 11; and

ABC is the amount of the person's accumulated basic contributions; and

AC is the amount of the person's accumulated contributions; and

AEC is the amount of the person's accumulated employer contributions.

"(2a) Where a deferred benefit by way of age retirement benefit, early retirement benefit or invalidity benefit is payable to a person who is a former eligible employee with benefits from previous employment,

the amount of any pension or lump sum benefit constituting that benefit is determined by the Commissioner having regard to:

    (a) the amount of any pension or lump sum benefit that would be payable to the person under subsection (2) if the person was not a former eligible employee with benefits from previous employment; and

    (b) the amount of any transfer value paid by, or in respect of, the person to the Superannuation Board or the Commissioner for Superannuation under the superseded Act; and

    (c) the number of non-contributory units (if any) that were, under the superseded Act, applicable in relation to the person on 30 June 1976 or immediately before the person became entitled to invalidity pension (as the case may be) and the contributions that would have been paid by the person in respect of those units if they had been contributory units of pension in respect of which the person had contributed at rates based on a retiring age of 65; and

    (d) the amount of any