Superannuation (PSS) Maximum Benefits (2023-2024) Determination 2023 (Cth)
Superannuation (PSS)
Maximum Benefits (2023-2024)
Determination 2023
I, JARRED BROWN, Senior Manager, Governance & External Providers, Customer Operations, and Delegate of Commonwealth Superannuation Corporation, 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 14 June 2023
J BROWN
Delegate of Commonwealth Superannuation Corporation
1 Name of Determination
This Determination is the Superannuation (PSS) Maximum Benefits
(2023-2024) Determination 2023.
2 Commencement
This determination takes effect on 1 July 2023.
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 2023, 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 $85,000.00 | $850,000.00 |
| $85,000.00 and over | 10 times average salary |
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 2023, as if the amounts specified in the following table were substituted for the amounts specified in that table:
Table – AFP Preliminary Maximum Benefits – Lump Sums | |
| Average Salary | Preliminary Maximum Benefit |
| Less than $85,000.00 | $850,000.00 |
| $85,000.00 and over | 10 times average salary |
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 2023, 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 $85,000.00 | $1,190,000.00 |
| $85,000.00 and over | 14 times average salary |
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