Commonwealth legislation

Superannuation (PSS) Maximum Benefits (2011-2012) Determination 2011

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Commonwealth

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legislative instrument

Plain English Summary

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This instrument sets the dollar caps on lump‑sum and pension payments under the Public Sector Superannuation (PSS) and Australian Federal Police (AFP) tables for the 2011–2012 year, replacing the amounts in the PSS Rules tables (clauses 3–5). It takes effect from 1 July 2011 (clause 2) and was made by a delegated official under the PSS Rules. It affects PSS/AFP members, employers and scheme administrators who must apply these caps when calculating benefits.

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Superannuation (PSS) Maximum Benefits (2011-2012) Determination 2011

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Superannuation (PSS)

Maximum Benefits (2011-2012) Determination 2011

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I, STEVE WHITTON, Director, Australian Public Sector Payments and Entitlements, Position No. 44, and Delegate of Australian Reward Investment Alliance, pursuant to rules 5.6.5 and 5.7.7 of the PSS Rules, in the schedule to the Deed in force under section 4 of the Superannuation Act 1990, DETERMINE as follows:

Dated 29 June 2011

S WITTON

Delegate of Australian Reward Investment Alliance

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1 Name of Determination

This Determination is the Superannuation (PSS) Maximum Benefits

(2011-2012) Determination 2011.

2 Commencement

This determination shall take effect from and including 1 July 2011.

3 Maximum Benefits – Lump Sums

For rule 5.6.5 of the PSS Rules, the table in rule 5.6.1 has effect, for the financial year starting on 1 July 2011, as if the amounts specified in the following table were substituted for the amounts specified in that table:

TableMaximum Benefits
Average Salary Maximum Benefit
Less than $60,000.00 $600,000.00
$60,000.00 and over 10 times average salary

4 Maximum Benefits – AFP Lump Sums

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.1 has effect, for the financial year starting on 1 July 2011, as if the amounts specified in the following table were substituted for the amounts specified in that table:

TableMaximum Benefits
Average Salary Preliminary Maximum Benefit
Less than $60,000.00 $600,000.00
$60,000.00 and over 10 times average salary

5 Maximum Benefits – AFP 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 2011, as if the amounts specified in the following table were substituted for the amounts specified in that table:

TableAFP Preliminary Maximum BenefitsPensions
Final Average Salary Preliminary Maximum Benefit
Less than $60,000.00 $840,000.00
$60,000.00 and over 14 times average salary

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.