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Parliamentary Superannuation Age Factors (Surcharge) Determination 2015 (No. 1)

- F2015L01272
In force - Latest Version
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Determinations/Superannuation as made

This determination provides for age factors to convert a parliamentary pension into a lump sum in order to meet a parliamentarian’s surcharge liability.

Administered by: Finance

Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06

Registered

14 Aug 2015

Tabling History	Date
Tabled HR	17-Aug-2015
Tabled Senate	18-Aug-2015

Details

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Parliamentary Superannuation Age Factors (Surcharge) Determination 2015 (No. 1)¹

Parliamentary Contributory Superannuation Act 1948

The Parliamentary Retiring Allowances Trust makes this Determination under subsection 22A(1) of the Parliamentary Contributory Superannuation Act 1948.

Signed for and on behalf of the Parliamentary Retiring Allowances Trust

Dated 12 August 2015

MICHAEL FRANCIS McCORMACK

Trustee of the Parliamentary Retiring Allowances Trust

PHILIP RUDDOCK

Trustee of the Parliamentary Retiring Allowances Trust

1 Name of Determination

This Determination is the Parliamentary Superannuation Age Factors (Surcharge) Determination 2015 (No. 1).

2 Commencement and revocation

(a) This Determination commences on the day after it is registered on the Federal Register of Legislative Instruments.

(b) This Determination revokes the Superannuation Pension Conversion Factors Determination No. 1/2004 made by the Parliamentary Retiring Allowances Trust on 9 December 2004 under subsection 22A(1) of the Parliamentary Contributory Superannuation Act 1948.

3 Age factors

For the purposes of section 22A of Parliamentary Contributory Superannuation Act 1948, the age factor for a person is determined under Tables A, B, C and D of the Schedule to this Determination, based on:

(a) whether the person is male or female;

(b) whether the benefit is a retirement pension or an invalidity pension; and

Schedule Age factors

(section 3)

Table A: Male Retirement Pension Age Factors

Table B: Female Retirement Pension Age Factors

Table C: Male Invalid Pension Age Factors

Table D: Female Invalid Pension Age Factors

Table A: Male Retirement Pension Age Factors

Age at last birthday prior to start of pension	Age Factor
20	33.7
21	33.5
22	33.3
23	33.2
24	33.0
25	32.8
26	32.6
27	32.4
28	32.2
29	32.0
30	31.8
31	31.5
32	31.3
33	31.1
34	30.8
35	30.6
36	30.3
37	30.1
38	29.8
39	29.5
40	29.3
41	29.0
42	28.7
43	28.4
44	28.1
45	27.7
46	27.4
47	27.1
48	26.7
49	26.4
50	26.0

Age at last birthday prior to start of pension	Age Factor
51	25.6
52	25.2
53	24.9
54	24.5
55	24.0
56	23.6
57	23.2
58	22.8
59	22.3
60	21.8
61	21.4
62	20.9
63	20.4
64	19.9
65	19.4
66	18.8
67	18.3
68	17.8
69	17.2
70	16.6
71	16.0
72	15.5
73	14.9
74	14.3
75	13.6
76	13.0
77	12.4
78	11.8
79	11.1
80	10.5

Table B: Female Retirement Pension Age Factors

Age at last birthday prior to start of pension	Age Factor
20	33.6
21	33.4
22	33.2
23	33.0
24	32.8
25	32.6
26	32.4
27	32.2
28	32.0
29	31.7
30	31.5
31	31.3
32	31.0
33	30.8
34	30.5
35	30.3
36	30.0
37	29.7
38	29.4
39	29.1
40	28.8
41	28.5
42	28.2
43	27.9
44	27.6
45	27.2
46	26.9
47	26.5
48	26.2
49	25.8
50	25.4

Age at last birthday prior to start of pension	Age Factor
51	25.0
52	24.6
53	24.2
54	23.8
55	23.4
56	23.0
57	22.5
58	22.1
59	21.6
60	21.1
61	20.7
62	20.2
63	19.7
64	19.2
65	18.6
66	18.1
67	17.6
68	17.0
69	16.5
70	15.9
71	15.3
72	14.8
73	14.2
74	13.6
75	13.0
76	12.4
77	11.9
78	11.3
79	10.7
80	10.1

Table C: Male Invalid Pension Age Factors

Age at last birthday prior to start of pension	Age Factor
20	33.4
21	33.2
22	33.0
23	32.9
24	32.7
25	32.5
26	32.3
27	32.1
28	31.9
29	31.7
30	31.4
31	31.2
32	31.0
33	30.7
34	30.5
35	30.2
36	30.0
37	29.7
38	29.4
39	29.1
40	28.8
41	28.5
42	28.2
43	27.9
44	27.6
45	27.3
46	26.9
47	26.6
48	26.2
49	25.8
50	25.5

Age at last birthday prior to start of pension	Age Factor
51	25.1
52	24.7
53	24.3
54	23.9
55	23.4
56	23.0
57	22.6
58	22.1
59	21.6
60	21.2
61	20.7
62	20.2
63	19.7
64	19.2
65	18.7
66	18.1
67	17.6
68	17.0
69	16.5
70	15.9
71	15.4
72	14.8
73	14.2
74	13.6
75	13.0
76	12.4
77	11.8
78	11.2
79	10.6
80	10.0

Table D: Female Invalid Pension Age Factors

Age at last birthday prior to start of pension	Age Factor
20	32.8
21	32.6
22	32.4
23	32.2
24	32.0
25	31.8
26	31.5
27	31.3
28	31.0
29	30.8
30	30.5
31	30.3
32	30.0
33	29.7
34	29.4
35	29.1
36	28.8
37	28.5
38	28.2
39	27.9
40	27.6
41	27.2
42	26.9
43	26.5
44	26.1
45	25.8
46	25.4
47	25.0
48	24.6
49	24.2
50	23.7

Age at last birthday prior to start of pension	Age Factor
51	23.3
52	22.9
53	22.4
54	22.0
55	21.5
56	21.0
57	20.5
58	20.1
59	19.6
60	19.1
61	18.6
62	18.1
63	17.5
64	17.0
65	16.5
66	15.9
67	15.4
68	14.9
69	14.3
70	13.8
71	13.2
72	12.7
73	12.1
74	11.6
75	11.1
76	10.5
77	10.0
78	9.5
79	9.0
80	8.5

Note

1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au

Federal Register of Legislation - Australian Government

Primary content

Parliamentary Superannuation Age Factors (Surcharge) Determination 2015 (No. 1)

Table A: Male Retirement Pension Age Factors

Table B: Female Retirement Pension Age Factors

Table C: Male Invalid Pension Age Factors

Table D: Female Invalid Pension Age Factors