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PSS (Maximum Benefits) Determination No. 2

Authoritative Version
  • - F2008B00741
  • No longer in force
Determinations/Superannuation as made
This Determination amends the PSS (Maximum Benefits) Determination No. 1.
Administered by: Finance
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42
Registered 07 Nov 2008
Date of repeal 01 Jul 2005
Repealed by Superannuation (PSS) Maximum Benefits (2005-2006) Determination 2005

                                             COMMONWEALTH OF AUSTRALIA

 

                                                   SUPERANNUATION ACT 1990

 

                                                             DETERMINATION

 

 

The PSS Board, pursuant to clauses 5.6.5 and 5.7.7 of the Rules, DETERMINES as follows:

 

Citation

 

1.    This determination may be cited as the "PSS (Maximum Benefits) Determination No. 2".

 

Commencement

 

2.    This determination shall take effect from and including 1 July 1997.     

 

Purpose

 

3.    The purpose of this determination is to amend the maximum benefit levels that apply to ordinary scheme members and scheme members employed by the Australian Federal Police.

 

Principal Determination

 

4.    In this determination, "the Principal Determination" means the PSS (Maximum Benefits) Determination No. 1.

 

Amendments to Principal Determination

 

[Amendment of dollar amounts for the purposes of the Table entitled "Table - Maximum Benefits" in Rule 5.6.1]

 

5.    Schedule 1 to the Principal Determination is amended by replacing the dollar amounts it contains with the dollar amounts set out in the Table in Schedule 1 to this determination. 

 

[Amendment of dollar amounts for the purposes of the Table entitled "Table - AFP Preliminary Maximum Benefits - Lump Sums" in Rule 5.7.1]

 

6.    Schedule 2 to the Principal Determination is amended by replacing the dollar amounts it contains with the dollar amounts set out in the Table in Schedule 2 to this determination. 

 

[Amendment of dollar amounts for the purposes of the Table entitled "Table - AFP Preliminary Maximum Benefits - Pensions" in Rule 5.7.2]

 

7.    Schedule 3 to the Principal Determination is amended by replacing the dollar amounts it contains with the dollar amounts set out in the Table in Schedule 3 to this determination. 

 

 

                                                                              


 

                              [PSS (Maximum Benefits) Determination No. 2 (continued)]

 

 

 

 

 

 

 

R. Brown

 

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

R.L. Brown

(Chairperson)

 

 

 

 

 

Peter Reynolds                                                                                                            M. Hutchinson

 

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

P. Reynolds                                                                                                                  M.J. Hutchinson

(Trustee)                                                                                                                                 (Trustee)

                                                                                                                                                              

 

 

 

 

W. Hall                                                                                                                    John. A. Flitcroft                                      

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

W. Hall                                                                                                                              J.A. Flitcroft

(Trustee)                                                                                                                                 (Trustee)

 

 

 

The Common Seal of the PSS Board was hereunto affixed by authority of the Board

 

 

 

 

 

 

Dated this            sixth                       day of                      June                                                   1997


 

                                                                   SCHEDULE 1

 

 

REPLACEMENT DOLLAR AMOUNTS FOR THE PURPOSES OF THE TABLE IN PSS RULE 5.6.1

 

 

EFFECTIVE FROM 1 JULY 1997

 

 

 

 

 

 

 

Table - Maximum Benefits

 

 

    Average Salary

 

Maximum Benefit

 

    Less than $33,168

 

$265,338

 

    $33,168 or more

         but less than $53,040

 

8 times average salary

 

    $53,040 or more

         but less than $98,480

 

$106,080

plus 6 times average salary

 

    $98,480 or more

 

$401,520

plus 3 times average salary

 

 


 

SCHEDULE 2

 

 

REPLACEMENT DOLLAR AMOUNTS FOR THE PURPOSES OF THE TABLE IN PSS RULE 5.7.1

 

 

EFFECTIVE FROM 1 JULY 1997

 

 

 

 

 

 

 

Table - AFP Preliminary Maximum Benefits - Lump Sums

 

 

Average Salary

 

Maximum Benefit

 

Less than $33,168

 

$265,338

 

$33,168 or more

but less than $53,040

 

8 times average salary

 

$53,040 or more

but less than $98,480

 

$106,080

plus 6 times average salary

 

$98,480 or more

 

$401,520

plus 3 times average salary

 

 


 

SCHEDULE 3

 

 

REPLACEMENT DOLLAR AMOUNTS FOR THE PURPOSES OF THE TABLE

IN PSS RULE 5.7.2

 

 

EFFECTIVE FROM 1 JULY 1997

 

 

 

 

 

 

 

Table - AFP Preliminary Maximum Benefits - Pensions

 

 

Final Average Salary

 

Maximum Benefit

 

Less than $33,168

 

$373,140

 

$33,168 or more

but less than $53,040

 

11.25 times average salary

 

$53,040 or more

but less than $98,480

 

$159,120

plus 8.25 times average salary

 

$98,480 or more

 

 

$454,560

plus 5.25 times average salary