Superannuation (PSS) Maximum Benefits (2011-2012) Determination 2011 (Cth)

Superannuation (PSS)

Maximum Benefits (2011-2012) Determination 2011

I, STEVE WHITTON, Director, Australian Public Sector Payments and Entitlements, Position No. 44, and Delegate of Australian Reward Investment Alliance, pursuant to rules 5.6.5 and 5.7.7 of the PSS Rules, in the schedule to the Deed in force under section 4 of the Superannuation Act 1990, DETERMINE as follows:

Dated          29 June 2011

S WITTON

Delegate of Australian Reward Investment Alliance  

1. Name of Determination

This Determination is the Superannuation (PSS) Maximum Benefits

(2011-2012) Determination 2011.

2          Commencement

This determination shall take effect from and including 1 July 2011.     

3          Maximum Benefits – Lump Sums

For rule 5.6.5 of the PSS Rules, the table in rule 5.6.1 has effect, for the financial year starting on 1 July 2011, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table Maximum Benefits
Average Salary	Maximum Benefit
Less than $60,000.00	$600,000.00
$60,000.00 and over	10 times average salary

1. Maximum Benefits – AFP Lump Sums

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.1 has effect, for the financial year starting on 1 July 2011, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table Maximum Benefits
Average Salary	Preliminary Maximum Benefit
Less than $60,000.00	$600,000.00
$60,000.00 and over	10 times average salary

1. Maximum Benefits – AFP Pensions

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.2 has effect, for the financial year starting on 1 July 2011, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table AFP Preliminary Maximum Benefits Pensions
Final Average Salary	Preliminary Maximum Benefit
Less than $60,000.00	$840,000.00
$60,000.00 and over	14 times average salary