Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p16
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 16/66)
Character Range: 265052–267833

quarter in the preceding year.
non‑commutable pension means a pension provided under rules of a superannuation fund that:
 (a) meet the standards of subregulation 1.06(2), (7) or (8); and
 (b) ensure that, if the pension is commuted under subparagraph 1.06(2)(e)(i), (7)(g)(i) or (8)(d)(i), the resulting superannuation lump sum cannot be cashed unless:
 (i) the purpose of the commutation is to cash an unrestricted non‑preserved benefit; or
 (ii) before commutation, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'.
permanent resident means a holder of a permanent visa under the Migration Act 1958 that has not ceased to be in effect.
preservation age means:
 (a) for a person born before 1 July 1960—55 years; or
 (b) for a person born during the year 1 July 1960 to 30 June 1961—56 years; or
 (c) for a person born during the year 1 July 1961 to 30 June 1962—57 years; or
 (d) for a person born during the year 1 July 1962 to 30 June 1963—58 years; or
 (e) for a person born during the year 1 July 1963 to 30 June 1964—59 years; or
 (f) for a person born after 30 June 1964—60 years.
restricted non‑preserved contributions means undeducted contributions (within the meaning of subregulation (6)) of a member other than contributions that were preserved in satisfaction of requirements of the Tax Act, the OSS Laws the Superannuation Industry (Supervision) (Transitional Provisions) Regulations, the RSA Regulations or these regulations leading to income tax concessions.
retirement has the meaning given by subregulation (7).
severe financial hardship has the meaning given by subregulation (5).
student visa has the same meaning as in the Migration Act 1958.
temporary incapacity, in relation to a member who has ceased to be gainfully employed (including a member who has ceased temporarily to receive any gain or reward under a continuing arrangement for the member to be gainfully employed), means ill‑health (whether physical or mental) that caused the member to cease to be gainfully employed but does not constitute permanent incapacity.
temporary resident means a holder of a temporary visa under the Migration Act 1958.
terminal medical condition has the meaning given by regulation 6.01A.
transitional period, in relation to a superannuation fund, means the period beginning at the beginning of the fund's 1994–1995 year of income and ending:
 (a) in the case of a public sector superannuation scheme—at the end of the day when the scheme became an exempt public sector superannuation scheme; or
 (b) in any other case—at the end of the day when the trustee of the fund lodges an election under section 19 of the Act.
transition to retirement income