COMMONWEALTH OF AUSTRALIA
SUPERANNUATION ACT 1990
DETERMINATION
I, MICHAEL JOHN SIMPSON, Manager, Employer Relations and Member Accounts, Commonwealth Superannuation Administration, Position No. 44, and Delegate of the PSS Board, pursuant to rules 5.6.5 and 5.7.7 of the Rules, DETERMINE as follows:
Citation
1. This determination may be cited as the "PSS (Maximum Benefits) Determination No. 9".
Commencement
2. This determination shall take effect from and including 1 July 2004.
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, as amended.
Interpretation
5.(1) In this determination:
“Act” means the Superannuation Act 1990; and
“Rules” means the Rules for the Administration of the Superannuation Scheme established by deed under section 4 of the Act, as amended from time to time.
(2) Words and expressions defined in the Act and the Rules have the same meaning in this determination.
Amendments to the Principal Determination
[Amendment of dollar amounts for the purposes of the Table entitled "Table - Maximum Benefits" in Rule 5.6.1]
6. Schedule 1 to the Principal Determination is amended by replacing the dollar amounts set out therein with the dollar amounts set out in the Table in Schedule 1 to this determination.
[PSS (Maximum Benefits) Determination No. 9 (continued)]
[Amendment of dollar amounts for the purposes of the Table entitled "Table - AFP Preliminary Maximum Benefits - Lump Sums" in Rule 5.7.1]
7. Schedule 2 to the Principal Determination is amended by replacing the dollar amounts set out therein 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]
8. Schedule 3 to the Principal Determination is amended by replacing the dollar amounts set out therein with the dollar amounts set out in the Table in Schedule 3 to this determination.
M. Simpson
…………………………………………………..
M.J. Simpson
Manager
Employer Relations and Member Accounts
Commonwealth Superannuation Administration
and Delegate of the PSS Board
Dated this twenty - fifth day of June 2004
SCHEDULE 1
REPLACEMENT DOLLAR AMOUNTS FOR THE PURPOSES
OF THE TABLE IN PSS RULE 5.6.1
EFFECTIVE FROM 1 JULY 2004
| Table - Maximum Benefits |
| Average Salary | Maximum Benefit |
| Less than $45,176 | $361,406 |
| $45,176 or more but less than $72,270 | 8 times average salary |
| $72,270 or more but less than $134,160 | $144,540 plus 6 times average salary |
| $134,160 or more | $547,020 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 2004
| Table - AFP Preliminary Maximum Benefits - Lump Sums |
| Average Salary | Preliminary Maximum Benefit |
| Less than $45,176 | $361,406 |
| $45,176 or more but less than $72,270 | 8 times average salary |
| $72,270 or more but less than $134,160 | $144,540 plus 6 times average salary |
| $134,160 or more | $547,020 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 2004
| Table - AFP Preliminary Maximum Benefits - Pensions |
Final Average Salary | Preliminary Maximum Benefit |
| Less than $45,176 | $508,230 |
| $45,176 or more but less than $72,270 | 11.25 times average salary |
| $72,270 or more but less than $134,160 | $216,810 plus 8.25 times average salary |
| $134,160 or more | $619,290 plus 5.25 times average salary |