10ACommutation of pension to lump sum

### 10A Commutation of pension to lump sum > [*\[Section 10A Inserted by No. 91 of 1999, s. 27, Applied:15 Dec 1999\]*](/view/html/inforce/1999-12-15/act-1999-091#GS27@EN) > > > (1)  [*\[Section 10A Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000\]*](/view/html/inforce/2000-12-13/act-2000-103#JS1@Ja12@GC1@EN) A person to whom this Act applies may elect, by notice in writing given to the Minister, to commute the whole or part of his or her residual pension to a lump sum payment in accordance with the following table:– > > > > > > (a) [*\[Section 10A Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000\]*](/view/html/inforce/2000-12-13/act-2000-103#JS1@Ja12@GC1@EN) .  .  .  .  .  .  .  .   > > > > > > > (b) [*\[Section 10A Subsection (1) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000\]*](/view/html/inforce/2000-12-13/act-2000-103#JS1@Ja12@GC1@EN) .  .  .  .  .  .  .  .   > > > > | Date of retirement | Maximum percentage of residual pension to be commuted | > > | between 1 July 1999 and 30 June 2000 | 20% | > > | between 1 July 2000 and 30 June 2001 | 40% | > > | between 1 July 2001 and 30 June 2002 | 60% | > > | between 1 July 2002 and 30 June 2003 | 80% | > > | from 1 July 2003 onwards | 100% | > > > (2)  [Subsection (1)](#GS10A@Gs1@EN) also applies to a person to whom this Act applies and who retired from office after 1 July 1999 and before the commencement of the [Superannuation (Parliament, Judiciary and Statutory Legal Officers) Reform Act 1999](/view/html/inforce/2026-04-12/act-1999-999) . > > > (3)  On receipt of a notice under [subsection (1)](#GS10A@Gs1@EN) , the Minister must commute the amount requested by the person to a lump sum payment and pay it to him or her after deducting any tax payable. > > > (4)  The lump sum conversion factors are to be determined by the Minister, on the advice of the Actuary, and are to be specified in a notice published in the *Gazette*. > > > (5)  A notice under [subsection (4)](#GS10A@Gs4@EN) is not a statutory rule for the purposes of the [Rules Publication Act 1953](/view/html/inforce/2026-04-12/act-1953-050) .