Judges' Pensions Act Amendment Act 1972 (Qld)

98 .u$Enzfaxr ANNO VICESIMO PRIMO ELIZABETHAE SECUNDAE REGINAE No. 11 of 1972 An Act to Amend the Judges ' Pensions Acts, 1957 to 1967 in a certain particular [ASSENTED TO 15TH DECEMBER, 19721 BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title and citation . (1) This Act may be cited as the Judges' Pensions Act Amendment Act 1972. (2) The Judges' Pensions Act of 1957 as amended from time to time is in this Act referred to as the Principal Act. (3) The Principal Act as amended by this Act may be cited as the Judges' Pensions Act 1957-1972. 2. New s. 8B. The Principal Act is amended by inserting the following section after section 8A:- "8B. Increase in rates of pensions , etc. (1) Notwithstanding any other provision of this Act, a person who is entitled to receive pension under section 3, 4, 5, 6, 7, 8 or 8A is entitled to an increase in the rate of that pension in accordance with this section.

Judges' Pensions Act Amendment Act 1972, No. 11 99 (2) The increased rate of pension referred to in subsection (1) payable to the person from time to time shall be the rate ascertained in accordance with the formula- P (1 + .03T), where- P is the rate of pension prescribed in relation to that person at the time in question by the provisions of this Act (other than this section); and T is the number of periods each of twelve months that have elapsed between- (a)- (i) the date on which the person to whom the pension in question is payable became entitled to receive that pension under any of the provisions referred to in subsection (1); or (ii) the thirtieth day of December, 1969, whichever is the later; and (b) the date at which the increased rate of pension is to be ascertained. (3) A person entitled to receive pension under any of the provisions referred to in subsection (1) is entitled to receive that pension at the increased rate thereof ascertained in accordance with this section in lieu of pension at the rate prescribed by the provision.".