Document ID: chunk:federal_register_of_legislation:C2024C00057:schedule:3:p8
Version: federal_register_of_legislation:C2024C00057
Segment Type: schedule
Provision Reference: sch 3 (pt 8/26)
Character Range: 71031–73730

Superannuation and Veterans' Pensions in Australia

    1. Except as provided in paragraph 3, where a person in Australia is entitled to receive New Zealand superannuation or a veteran's pension under Article 6, the amount of that benefit shall be calculated in accordance with the following formula:

    number of whole months New Zealand working age residence x  maximum benefit rate

    540

    subject to the following provisions:
         (a) all periods of working age residence in New Zealand shall be aggregated;
         (b) the maximum benefit rate shall be:
             (i) in the case of a single person, the maximum rate of benefit (less a percentage agreed in writing from time to time by the competent authorities and published in the New Zealand Gazette) payable under the social security law of New Zealand to a single person who is not living alone; and
             (ii) in the case of a person who is married, in a civil union or in a de facto relationship, the maximum rate of benefit (less a percentage agreed in writing from time to time by the competent authorities and published in the New Zealand Gazette) payable under the social security law of New Zealand to a person who is married, in a civil union or in a de facto relationship whose spouse also qualifies for New Zealand superannuation or a veteran's pension in his or her own right;
         (c) in no case shall the rate of benefit exceed 100% of the maximum benefit rate as defined in subparagraph (b);
         (d) except for a third country pension taken into account under subparagraph (e), or as provided for in paragraph 3 of this Article, no account shall be taken of any benefit that is payable under the social security law of Australia; and
         (e) no account shall be taken of any third country pension that is payable under the legislation of a third country unless paragraph 2 applies.

    2. Where a person in Australia receives a New Zealand benefit payable under this Agreement and is not a permanent resident of Australia, periods of working age residence in a third country shall be deemed for the purposes of this Article to be periods of working age residence in New Zealand.

    3. Where a person is entitled to receive New Zealand superannuation or a veteran's pension under Article 6, the rate of New Zealand superannuation or veteran's pension shall be calculated under paragraph 1 but the amount the person is entitled to receive shall not exceed the amount of Australian pension that would have been payable to that person if he or she was entitled to receive an Australian pension but was not entitled to receive New Zealand superannuation or a veteran's pension.

ARTICLE 10