1Superannuation (PSS) Maximum Benefits (2005-2006) Determination 2005

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Superannuation (PSS)

Maximum Benefits (2005-2006) Determination 2005

 

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I,  MICHAEL JOHN SIMPSON, Manager of the Civilian Defined Benefit Schemes Administration Section, Commonwealth Superannuation Administration, Position No. 44, and delegate of the PSS Board, pursuant to rules 5.6.5 and 5.7.7 of the PSS Rules, DETERMINE as follows:

 

 

Dated this twenty-ninth day of June 2005

 

 

 

 

M. Simpson

 

 

Delegate of the PSS Board

Image unavailable in extracted text 1 Name of Determination

 

This Determination is the Superannuation (PSS) Maximum Benefits

(2005-2006) Determination 2005.

 

 

 

2 Commencement

 

  This determination shall take effect from and including 1 July 2005.     

 

 

 

3 Maximum Benefits – Lump Sums

 

For rules 5.6.5 and 5.7.7 of the PSS Rules, the tables in rules 5.6.1 and 5.7.1 have effect, for the financial year starting on 1 July 2005, as if the amounts specified in the following table were substituted for the amounts specified in those tables:

 

 

• TableMaximum Benefits
• Average Salary Maximum Benefit
• Less than $47,235 $377,875
• $47,235 or more but less than $75,570 8 times average salary
• $75,570 or more but less than $140,280 $151,140plus 6 times average salary
• $140,280 or more $571,980plus 3 times average salary

 

 

 

4 Maximum Benefits – Pensions

 

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.2 has effect, for the financial year starting on 1 July 2005, as if the amounts specified in the following table were substituted for the amounts specified in that table: