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State Superannuation Act 1988
33Amount of pension on retirement through age
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33 Amount of pension on retirement through age
S. 33(1) amended by Nos 81/1988 s. 28(a), 110/1993 s. 71(2).
N represents the amount of the pension that would have been payable to the officer if the officer had continued to serve as an officer until attaining the age of 60 years and had then retired and as if his or her final average salary at retirement had been his or her final average salary at age 60 and counting the recognised service which would have been completed by that age;
YA represents the period of recognised service of the officer before attaining the age of 60 years or 42 years whichever is the lesser;
YP represents the period of recognised service which the officer would have had if the officer had continued to serve as an officer until attaining the age of 60 years and had then retired or 42 years whichever is the lesser;
C60 represents the lump sum factor at age 60 as specified in Schedule 1;
CR represents the lump sum factor specified in Schedule 1 with respect to the age in completed years and months at which the officer retires.
S. 33(2) amended by No. 110/1993 s. 71(1).
(2) A revised scheme member who retires at the age of 60 years and has completed recognised service of not less than 30 years is entitled to a pension equal to two-thirds of his or her final average salary.
S. 33(3) amended by No. 110/1993 s. 71(1).
(3) A revised scheme member who retires after the age of 60 years and has completed recognised service of not less than 30 years is entitled to a pension equal to two-thirds of his or her final average salary multiplied by—
(4) A revised scheme member who retires at or after the age of 60 years and has completed recognised service of less than 30 years is entitled to a pension calculated under subsection (2) or (3) reduced in the proportion that his or her recognised service bears to 30 years.
(5) A revised scheme member who retires on or after the minimum age for retirement but before attaining the age of 60 years is entitled to a pension equal to—
(6) Despite subsection (1), until 30 June 1988, C60 and CR are to be determined from Schedule 6 of the **Superannuation Act 1958**.