Superannuation (Additional Pension) Regulations 2004 (Cth)

Superannuation (Additional Pension) Regulations 2004

Statutory Rules 2004 No. 3001

I, PHILIP MICHAEL JEFFERY, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Act 1976.

Dated 31 August 2004

P. M. JEFFERY

Governor-General

By His Excellency’s Command

NICK MINCHIN

Minister for Finance and Administration

Contents

1Name of Regulations

These Regulations are the Superannuation (Additional Pension) Regulations 2004.

2Commencement

These Regulations commence on the date of their notification in the Gazette.

3Superannuation (Additional Pension) Regulations – repeal

The following Statutory Rules are repealed:

· 1976 No. 158

· 1978 No. 141.

4Definition

In these Regulations:

Act means the Superannuation Act 1976.

5Factor applicable for paragraph 57 (1) (a) of the Act

For paragraph 57 (1) (a) of the Act, the factor applicable to a person is the factor specified in column 2 of an item in Schedule 1 for the age specified in column 1 of the item that was that person’s age on his or her last day of service.

Note This regulation applies to a person entitled to additional age retirement pension who does not make an election under subsection 57AA (1) of the Act.

6Factor applicable for subparagraph 57AA (4) (b) (i) of the Act

For subparagraph 57AA (4) (b) (i) of the Act, the factor applicable to a person is the factor specified in column 3 of an item in Schedule 1 for the age specified in column 1 of the item that was that person’s age on his or her last day of service.

Note This regulation applies to a person who is entitled to additional age retirement pension who makes an election under subsection 57AA (1) of the Act.

7Factor applicable for paragraph 91 (1) (a) of the Act

For paragraph 91 (1) (a) of the Act, the factor applicable in relation to the annual rate of spouse’s additional pension to which the spouse of a deceased eligible employee is entitled because of section 89 of the Act is:

1. (a)

   if the spouse is a male — the factor specified in column 2 of an item in Schedule 2 for the age specified in column 1 of the item that was the age of the spouse at the date of the eligible employee’s death; or

2. (b)

   if the spouse is a female — the factor specified in column 3 of the item.

8Factor applicable for subsections 61 (1) and (2) of the Act

For subsection 61 (3) of the Act, the factor applicable to a person for subsections 61 (1) and (2) of the Act is the factor specified in column 2 of an item in Schedule 3 for the age specified in column 1 of the item that was that person’s age on his or her last day of service.

Note This regulation applies to a person who is entitled to additional early retirement pension, and who does not make an election under subsection 61AB (1) of the Act.

9Factor applicable for subsection 61AB (5) of the Act

For subsection 61AB (5) of the Act, the factor applicable to a person for paragraphs 61AB (4) (b) and (c) of the Act is the factor specified in column 3 of an item in Schedule 3 for the age specified in column 1 of the item that was the person’s age on his or her last day of service.

Note This regulation applies to a person entitled to additional early retirement pension who makes an election under subsection 61 AB (1) of the Act.

10Percentage applicable for definition of notional final annual rate of salary in subsections 61 (4) and 61AB (6) of the Act

For the definition of notional final annual rate of salary in subsections 61 (4) and 61AB (6) of the Act, the percentage applicable to a person is the percentage specified in column 4 of an item in Schedule 3 for the age specified in column 1 of the item that was that person’s age on his or her last day of service.

Schedule 1Factors applicable to person entitled to additional age retirement pension

(regulations 5 and 6)

Do not delete: Schedule Part Placeholder

Column 1	Column 2	Column 3
Age on last day of service	Factor applicable if person does not make an election under subsection 57AA (1) of the Act	Factor applicable if person makes an election under subsection 57AA (1) of the Act
60	0.100	0.093
61	0.102	0.095
62	0.104	0.097
63	0.106	0.099
64	0.108	0.101
65 or over	0.110	0.103

Schedule 2Factors applicable in relation to spouse of deceased eligible employee

(regulation 7)

Do not delete: Schedule Part Placeholder

Column 1	Column 2	Column 3
Age of spouse at date of eligible employee’s death	Factor (male spouse)	Factor (female spouse)
40 or under	0.100	0.090
41	0.101	0.091
42	0.102	0.092
43	0.103	0.093
44	0.104	0.094
45	0.105	0.095
46	0.106	0.096
47	0.107	0.097
48	0.108	0.098
49	0.109	0.099
50	0.110	0.100
51	0.111	0.101
52	0.112	0.102
53	0.113	0.103
54	0.114	0.104
55	0.115	0.105
56	0.116	0.106
57	0.117	0.107
58	0.118	0.108
59	0.119	0.109
60	0.120	0.110
61	0.122	0.112
62	0.124	0.114
63	0.126	0.116
64	0.128	0.118
65	0.130	0.120
66	0.134	0.124
67	0.138	0.128
68	0.142	0.132
69	0.146	0.136
70	0.150	0.140
71	0.154	0.144
72	0.158	0.148
73	0.162	0.152
74	0.166	0.156
75	0.170	0.160
76	0.174	0.164
77	0.178	0.168
78	0.182	0.172
79	0.186	0.176
80 or over	0.190	0.180

Schedule 3Factors and percentages applicable to person entitled to additional early retirement pension

(regulations 8, 9 and 10)

Do not delete: Schedule Part Placeholder

Column 1	Column 2	Column 3	Column 4
Age on last day of service	Factor applicable if person does not make an election under subsection 61AB (1) of the Act	Factor applicable if person makes an election under subsection 61AB (1) of the Act	Percentage applicable for definition of notional final annual rate of salary
59	0.0985	0.0916	1.5
58	0.0970	0.0902	3.0
57	0.0955	0.0888	4.5
56	0.0940	0.0874	6.0
55	0.0925	0.0860	7.5
54	0.0910	0.0846	9.0
53	0.0895	0.0832	10.5
52	0.0880	0.0818	12.0
51	0.0865	0.0804	13.5
50	0.0850	0.0790	15.0
49	0.0842	0.0783	15.8
48	0.0835	0.0776	16.5
47	0.0827	0.0769	17.3
46	0.0820	0.0762	18.0
45	0.0812	0.0755	18.8
44	0.0805	0.0748	19.5
43	0.0797	0.0741	20.3
42	0.0790	0.0734	21.0
41	0.0782	0.0727	21.8
40	0.0775	0.0720	22.5
39	0.0767	0.0713	23.3
38	0.0760	0.0706	24.0
37	0.0752	0.0699	24.8
36	0.0745	0.0692	25.5
35	0.0737	0.0685	26.3
34	0.0730	0.0678	27.0
33	0.0722	0.0671	27.8
32	0.0715	0.0664	28.5
31	0.0707	0.0657	29.3
30	0.0700	0.0650	30.0
29	0.0692	0.0643	30.8
28	0.0685	0.0636	31.5
27	0.0677	0.0629	32.3
26	0.0670	0.0622	33.0
25	0.0662	0.0615	33.8
24	0.0655	0.0608	34.5
23	0.0647	0.0601	35.3
22	0.0640	0.0594	36.0
21	0.0632	0.0587	36.8
20	0.0625	0.0580	37.5
19	0.0617	0.0573	38.3
18	0.0610	0.0566	39.0
17	0.0602	0.0559	39.8
16	0.0595	0.0552	40.5
15	0.0587	0.0545	41.3

Note

1. Notified in the Commonwealth of Australia Gazette on 7 September

2004.