Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:16:p75
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 16 (pt 75/106)
Character Range: 316009–318907

contributions, or a lump sum of less than that amount, and:
             (i) leave the balance of his/her final benefit accrual in the scheme as a preserved benefit; or

             (ii) roll‑over the balance of his/her final benefit plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member with any amount that exceeds the member's accumulated member contributions being treated as a preserved benefit for the purposes of the SIS Act; or

             (iii) convert the balance of his/her final benefit accrual into a pension; or
         (b) to take his/her final benefit accrual as a pension; or
         (c) to roll‑over his/ her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member, with any amount that exceeds the member's accumulated member contributions being treated as a preserved benefit for the purposes of the SIS Act; or
         (d) to combine his/her final benefit accrual with the benefit accruing under another current period of membership, provided the combined benefit does not exceed his/her maximum benefit (see Rules 5.2.20 and 5.3.20);

unless:

         (A) he/she ceases membership on the sale or transfer of all or part of an organisation, business, service, asset or function (see Division 6 of Part 6); or
         (B) he/she transfers his/her benefits to an eligible superannuation scheme (see Rule 6.8.6), or joins an approved superannuation scheme (see Rule 6.8.10) or an authorised superannuation scheme (see Rule 6.8.11).

Benefit options — after minimum retiring age
6.3.3 A member who ceases membership on involuntary retirement on or after minimum retiring age is entitled to leave his/her final benefit accrual in the scheme as a preserved benefit, or, as an alternative, may choose:
         (a) to be paid a lump sum calculated under Rule 6.3.3A, and:

             (i) leave the balance, if any, of his or her final benefit accrual in the scheme as a preserved benefit; or

             (ii) roll‑over the balance, if any, of his/her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member; or

             (iii) if the balance is 50% or more of his/her final benefit accrual, convert the balance into a pension; or
         (aa) to be paid a lump sum of less than the part of his/her final benefit accrual that is permitted to be paid in cash under the SIS Act; and:

             (i) leave the balance of his/her final benefit accrual in the scheme as a preserved benefit; or

             (ii) roll‑over the balance of his/her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member; or

             (iii) if the balance is 50% or more of his/her final benefit accrual, convert