Federal Register of Legislation - Australian Government

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Determinations/Superannuation as made
This Determination amends the Superannuation (DFRDB Scheme) (Surcharge Deduction Amount - Conversion Factors) Determination No. 1 by determining new conversion factors to be used when calculating pension reductions in order to discharge Surcharge Deduction Amounts.
Administered by: Defence
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42
Registered 17 Jul 2008
Date of repeal 19 Mar 2014
Repealed by Defence (Spent and Redundant Instruments) Repeal Regulation 2014

                                          COMMONWEALTH OF AUSTRALIA

 

             DEFENCE FORCE RETIREMENT AND DEATH BENEFITS ACT  1973

 

                                                          DETERMINATION

 

 

The Defence Force Retirement and Death Benefits Authority, pursuant to subsection 124A(1) of the Defence Force Retirement and Death Benefits Act 1973, and for the purposes of subsection 23(6), subparagraph 24(8)(e)(ii), paragraph 24(9)(f), subsection 31(4), subparagraph 32A(7)(e)(ii), paragraph 32A(8)(f), subparagraph 41A(4A)(d)(ii) and subsections 43(2AA), 75(3A) and 75(4A) of the Act, DETERMINES as follows:

 

Citation

 

1.         This determination may be cited as the "Superannuation (DFRDB Scheme) (Surcharge Deduction Amount - Conversion Factors) Determination No. 3".

 

Commencement

 

2.         This determination shall take effect from and including 1 July 2003.

 

Purpose

 

3.         The purpose of this determination is to determine, in accordance with advice from the Australian Government Actuary, new conversion factors to be used when calculating pension reductions in order to discharge Surcharge Deduction Amounts.

 

Principal Determination

 

4.         In this determination "the Principal Determination" means the Superannuation (DFRDB Scheme) (Surcharge Deduction Amount - Conversion Factors) Determination No. 1.

 

Interpretation

 

5.(1)     In this determination:

 

"Act" means the Defence Force Retirement and Death Benefits Act 1973; and

 

"DFRDB Scheme" means the retirement and death benefits scheme established by the Act.

 

(2)        Words and expressions defined in the Act have the same meaning in this determination.

 

Amendment of the Principal Determination

 

6.         The Table in the Schedule to the Principal Determination and the conversion factors required to be determined under subsection 124A(1) of the Act there set out are omitted and replaced by the Table and conversion factors set out in the Schedule to this determination.

 


[Superannuation (DFRDB Scheme) (Surcharge Deduction Amount - Conversion Factors) Determination No. 2 (continued)]

 

 

 

 

 

 

 

Leo Bator

 

..............................................................

Mr L. Bator

(Chairman)

 

 

 

 

 

P. Charley                                                                                                       R. Longbottom

 

.............................................................                              ............................................................

Mr P.J. Charley                                                                                            CAPT R. Longbottom 

(Deputy Chairman                                                                                                           (Member) 

and Department of Defence Member)

 

 

 

 

 

R. Tattersall                                                                                                                    A. Bobets                                        

 

..............................................................                             ............................................................

MAJ R. Tattersall                                                                                                      Mr A. Bobets

(Deputy Member)                                                                                                            (Member)

 

 

 

 

 

 

 

 

Dated this            thirteenth          day of                        June                                               2003  

 


SCHEDULE

 

CONVERSION FACTORS REQUIRED TO BE DETERMINED

UNDER SUBSECTION 124A(1) OF THE ACT

 

Age in completed years at date benefit becomes payable


Conversion factor

 

Age in completed years at date benefit becomes payable


Conversion factor

15

24.2

 

43

21.0

16

24.1

 

44

20.8

17

24.1

 

45

20.6

18

24.0

 

46

20.4

19

23.9

 

47

20.2

20

23.9

 

48

19.9

21

23.8

 

49

19.7

22

23.7

 

50

19.5

23

23.6

 

51

19.2

24

23.5

 

52

19.0

25

23.5

 

53

18.7

26

23.4

 

54

18.4

27

23.3

 

55

18.1

28

23.2

 

56

17.8

29

23.1

 

57

17.5

30

23.0

 

58

17.2

31

22.8

 

59

16.9

32

22.7

 

60

16.6

33

22.6

 

61

16.2

34

22.5

 

62

15.9

35

22.3

 

63

15.5

36

22.2

 

64

15.1

37

22.0

 

65

14.7

38

21.9

 

66

14.4

39

21.7

 

67

14.0

40

21.6

 

68

13.5

41

21.4

 

69

13.1

42

21.2

 

70

12.7