Document ID: chunk:federal_register_of_legislation:C2022C00264:clause:11_136:p1
Version: federal_register_of_legislation:C2022C00264
Segment Type: clause
Provision Reference: sch 11 cl 136 (pt 1/12)
Character Range: 532454–535023

136  Deferred benefits
 (1) The deferred benefits applicable under this Division in respect of a person who has ceased to be an eligible employee shall, subject to this Division, be such benefits payable under this Act as CSC considers to be benefits of the same nature, and payable in the same circumstances and on the same conditions and, upon his or her death to the same persons (if any), as the benefits that would have been payable to or in respect of the person under this Act if he or she had not ceased to be an eligible employee and had not made the election by virtue of which the deferred benefits became applicable.
 (2) Where a deferred benefit by way of age retirement benefit, early retirement benefit or invalidity benefit is payable to a person other than a former eligible employee with benefits from previous employment, the amount of the benefit is calculated in accordance with the following provisions:
 (a) if:
 (i) a deferred benefit by way of standard age retirement pension is payable to the person in accordance with subsection 56(1), (2), (3) or (4); or
 (ii) a deferred benefit by way of standard early retirement pension is payable to the person in accordance with section 60;
  the annual rate of that pension is:
 (iii) if subparagraph (iv) does not apply—an amount per annum equal to the amount worked out by using the formula:

 (iv) if the person's surcharge debt account is in debit when the benefit becomes payable to the person and the person does not make an election under subsection (3A) or (3B)—an amount per annum equal to the amount worked out by using the formula:

 (b) if:
 (i) a deferred benefit by way of additional age retirement pension is payable to the person in accordance with subsection 57(1); or
 (ii) a deferred benefit by way of additional early retirement pension is payable to the person in accordance with subsection 61(1);
  the annual rate of that pension is, if the person does not make an election under subsection (3A), an amount per annum equal to:
 (iii) if, under the SIS Act, the benefit referred to in section 139AA is not to be paid in cash to the person—the amount calculated in accordance with the formula:

  ;

 (iv) if, under the SIS Act, that benefit is to be paid in cash to the person—the amount calculated in accordance with the formula:

  ;

  but, if the person makes an election under subsection (3A), the annual rate of that pension is an amount per annum equal to the amount worked out by using the formula:

 (c) if a deferred benefit by way of a lump sum benefit is payable