23DNominating commencement date of superannuation allowance

23D Nominating commencement date of superannuation allowance

23D Nominating commencement date of superannuation allowance

(1) Despite any other provision of this Act, the payment period of a superannuation allowance under this Act to which a person is entitled to payment commences on—

(a) if a date is nominated in accordance with this section—the date so nominated, or

(b) in any other case—the default date.

(2) A person who is, or is to be, entitled to be paid a superannuation allowance under this Act may, by notice in writing served on STC, nominate the date on which the payment period commences, if such a nomination is not inconsistent with a relevant Commonwealth superannuation standard.

(3) A notice under this section must—

(a) nominate the date on which the payment period commences, and

(b) be in the form approved by STC, and

(c) be served on STC not later than the expiry date.

(4) A notice under this section must not nominate a date earlier than the default date.

(5) A notice under this section is irrevocable.

(6) This section does not affect whether any person is entitled to a superannuation allowance or when any person becomes entitled to a superannuation allowance.

(7) A person is not entitled to payment of a superannuation allowance under this Act in respect of any period earlier than the commencement of the payment period of the allowance.

(8) In this section—

default date means, in respect of a superannuation allowance under this Act, the date on which the payment period of the allowance would, but for this section, commence.

expiry date means, in respect of a superannuation allowance under this Act, the date that is 3 months after the default date in respect of the allowance.

payment period means, in respect of a superannuation allowance under this Act, the period for which the allowance under this Act is to be paid.

s 23D: Ins 2006 No 53, Sch 1.2 [33].