1Superannuation (PSS) Maximum Benefits (2020-2021) Determination 2020

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Superannuation (PSS)

Maximum Benefits (2020-2021)

Determination 2020

 

 

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I, ADAM SCOTT NETTHEIM, Head of Customer Operations and Delegate of Commonwealth Superannuation Corporation, 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   5 June 2020

 

 

 

 

 

 

 

 

A NETTHEIM

Delegate of Commonwealth Superannuation Corporation

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1 Name of Determination

 

This Determination is the Superannuation (PSS) Maximum Benefits

(2020-2021) Determination 2020.

 

 

2 Commencement

 

  This determination commences on 1 July 2020.     

 

 

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 2020, as if the amounts specified in the following table were substituted for the amounts specified in that table:

 

• Table – Maximum Benefits
• Average Salary Maximum Benefit
• Less than $78,000.00 $780,000.00
• $78,000.00 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 2020, as if the amounts specified in the following table were substituted for the amounts specified in that table: