Veterans' Entitlements Act 1986 Section 25A Instructions (17/01/2006) (Cth)

Case

Veterans’ Entitlements Act 1986

Section 25A

Instructions

  1. I, Peter Martin, Australian Government Actuary, have prepared these Instructions for the purposes of section 25A of the Veterans’ Entitlements Act 1986 (the Act).

Dated this 17th day of January 2006

Peter Martin

Australian Government Actuary


Fortnightly Amount

  1. For the purposes of paragraphs 25A (2) and 25A (3) of the Act, the “fortnightly amount” is determined by the following formula:

Compensation rate ´ Indexation factor

Definitions

  1. For the purposes of these Instructions:

“Actuarial factor” means:

(a)        in respect of a male, the figure set out in column 2 of the relevant Actuarial table opposite the age in column 1 that the person would have been, or would be, on the next birthday after the lump sum date;

(b)        in respect of a female, the figure set out in column 3 of the relevant Actuarial table opposite the age in column 1 that the person would have been, or would be, on the next birthday after the lump sum date.

“Actuarial table” means:

(a)        Table 1 where the lump sum date is on or after 1 December 1988 and before 1 January 1991;

(b)        Table 2 where the lump sum date is on or after 1 January 1991 and before 1 July 1995;

(c)        Table 3 where the lump sum date is on or after 1 July 1995 and before 1 January 2000;

(d)        Table 4 where the lump sum date is on or after 1 January 2000 and before 1 July 2004;

(e)        Table 5 where the lump sum date is on or after 1 July 2004;

“Compensation rate” is

(a)        in relation to the initial period—the Initial rate;

(b)        in relation to the first six month period after the initial period—the Initial rate;

(c)        in relation to each subsequent six month period—the fortnightly amount for the previous six month period.

“Index factor”, in relation to a relevant period:

(a)        is the number, calculated to 3 decimal places, ascertained by dividing:

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(i)         if the relevant period starts between 1 January and 30 June (inclusive)—the index number for the last preceding December quarter; or

(ii)         if the relevant period starts between 1 July and 31 December (inclusive)—the index number for the last preceding June quarter;

by the highest index number in respect of a December or June quarter that preceded that quarter; or

(b)        if the number so ascertained would, if it were calculated to 4 decimal places, end in a number greater than 4—is the number so ascertained increased by 0.001.

“index number”, has the same meaning as it has in section 198 of the Act.

“indexation day” is 20 March and 20 September of each year.

“Indexation factor” is determined by the following table:

condition Indexation factor
in respect of the initial period 1
in respect of each six month period after the initial period if the Index factor is less than 1

1

in respect of each six month period after the initial period if the Index factor is equal to or greater than 1

the Index factor

“initial period” means the period beginning on the lump sum date and ending immediately before the next indexation day after the date of the first application of paragraph 25A (3) to the particular case.

“Initial rate” is:

(Lump sum ´ Actuarial factor) ¸ 10,000

“Lump sum” means the amount of compensation paid under section 24, 25 or 27 of the Safety, Rehabilitation and Compensation Act 1988 in dollars.

“Lump sum date” means the date of payment of compensation under section 24, 25 or 27 of the Safety, Rehabilitation and Compensation Act 1988.

“relevant period” has the same meaning as it has in section 198 of the Act.

Application

  1. This Instruction applies to all matters to which section 25A of the Act first applies on and after the date of this Instruction.

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Actuarial Table 1* (based on ALT 1980-1982)
Initial fortnightly amount of an indexed pension equivalent to a lump sum of $10,000 under Section 25A of the VEA

AGE NEXT BIRTHDAY MALES FEMALES AGE NEXT BIRTHDAY MALES FEMALES
1 13.202 12.779 47 20.968 18.539
2 13.184 12.764 48 21.421 18.853
3 13.238 12.804 49 21.900 19.184
4 13.297 12.849 50 22.405 19.534
5 13.360 12.897 51 22.939 19.902
6 13.426 12.947 52 23.504 20.291
7 13.496 13.000 53 24.102 20.703
8 13.569 13.055 54 24.735 21.139
9 13.646 13.113 55 25.406 21.602
10 13.726 13.172 56 26.118 22.093
11 13.810 13.234 57 26.875 22.614
12 13.897 13.299 58 27.680 23.168
13 13.988 13.366 59 28.538 23.758
14 14.083 13.436 60 29.451 24.387
15 14.180 13.508 61 30.424 25.059
16 14.281 13.583 62 31.463 25.777
17 14.383 13.660 63 32.570 26.545
18 14.485 13.739 64 33.752 27.369
19 14.585 13.820 65 35.013 28.253
20 14.686 13.905 66 36.359 29.202
21 14.791 13.994 67 37.795 30.224
22 14.901 14.086 68 39.329 31.324
23 15.018 14.183 69 40.966 32.511
24 15.142 14.284 70 42.712 33.793
25 15.273 14.389 71 44.576 35.180
26 15.411 14.500 72 46.565 36.684
27 15.557 14.615 73 48.686 38.318
28 15.710 14.736 74 50.950 40.095
29 15.873 14.862 75 53.365 42.029
30 16.044 14.995 76 55.941 44.134
31 16.226 15.134 77 58.691 46.425
32 16.418 15.280 78 61.628 48.917
33 16.621 15.433 79 64.767 51.626
34 16.836 15.593 80 68.121 54.565
35 17.062 15.760 81 71.706 57.752
36 17.301 15.936 82 75.537 61.198
37 17.554 16.120 83 79.628 64.918
38 17.819 16.313 84 83.991 68.921
39 18.100 16.516 85 88.641 73.215
40 18.396 16.728 86 93.586 77.809
41 18.707 16.950 87 98.832 82.712
42 19.036 17.184 88 104.381 87.929
43 19.382 17.429 89 110.224 93.472
44 19.748 17.686 90 116.337 99.349
45 20.133 17.956 91 122.692 105.571
46 20.539 18.240

* for lump sums paid on or after 1 December 1988 and before 1 January 1991

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Actuarial Table 2* (based on ALT 1985-1987)
Initial fortnightly amount of an indexed pension equivalent to a lump sum of $10,000 under Section 25A of the VEA

AGE NEXT BIRTHDAY MALES FEMALES AGE NEXT BIRTHDAY MALES FEMALES
1 13.103 12.731 47 20.347 18.287
2 13.091 12.722 48 20.771 18.590
3 13.144 12.763 49 21.221 18.909
4 13.200 12.807 50 21.696 19.245
5 13.260 12.853 51 22.199 19.599
6 13.324 12.903 52 22.732 19.973
7 13.390 12.954 53 23.296 20.368
8 13.461 13.007 54 23.893 20.786
9 13.534 13.063 55 24.525 21.228
10 13.610 13.121 56 25.196 21.698
11 13.689 13.182 57 25.906 22.198
12 13.772 13.245 58 26.660 22.731
13 13.857 13.310 59 27.460 23.298
14 13.946 13.378 60 28.310 23.904
15 14.039 13.449 61 29.214 24.551
16 14.134 13.522 62 30.176 25.243
17 14.231 13.597 63 31.201 25.984
18 14.327 13.673 64 32.295 26.776
19 14.424 13.752 65 33.464 27.625
20 14.520 13.833 66 34.713 28.535
21 14.620 13.918 67 36.050 29.512
22 14.725 14.006 68 37.481 30.560
23 14.835 14.099 69 39.014 31.687
24 14.951 14.196 70 40.655 32.901
25 15.073 14.297 71 42.414 34.208
26 15.202 14.403 72 44.300 35.621
27 15.338 14.514 73 46.321 37.149
28 15.482 14.630 74 48.488 38.806
29 15.632 14.751 75 50.814 40.606
30 15.792 14.878 76 53.313 42.561
31 15.959 15.012 77 55.998 44.686
32 16.136 15.151 78 58.883 46.996
33 16.323 15.297 79 61.981 49.506
34 16.520 15.451 80 65.303 52.231
35 16.727 15.611 81 68.858 55.187
36 16.947 15.780 82 72.650 58.389
37 17.178 15.957 83 76.677 61.853
38 17.423 16.142 84 80.925 65.593
39 17.681 16.337 85 85.367 69.624
40 17.954 16.541 86 89.956 73.955
41 18.241 16.755 87 94.630 78.595
42 18.546 16.980 88 99.330 83.544
43 18.867 17.217 89 104.000 88.794
44 19.207 17.465 90 108.603 94.323
45 19.566 17.725 91 113.122 100.102
46 19.945 17.999

* for lump sums paid on or after 1 January 1991 and before 1 July 1995

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Actuarial Table 3* (based on ALT 1990-1992)
Initial fortnightly amount of an indexed pension equivalent to a lump sum of $10,000 under Section 25A of the VEA

AGE NEXT BIRTHDAY MALES FEMALES AGE NEXT BIRTHDAY MALES FEMALES
1 13.000 12.666 47 19.782 17.978
2 12.999 12.667 48 20.174 18.267
3 13.050 12.706 49 20.589 18.571
4 13.104 12.749 50 21.029 18.892
5 13.162 12.794 51 21.495 19.231
6 13.223 12.841 52 21.990 19.589
7 13.287 12.891 53 22.514 19.967
8 13.354 12.942 54 23.071 20.367
9 13.423 12.996 55 23.662 20.790
10 13.495 13.052 56 24.289 21.239
11 13.571 13.110 57 24.954 21.715
12 13.649 13.171 58 25.661 22.221
13 13.731 13.234 59 26.411 22.760
14 13.817 13.299 60 27.209 23.334
15 13.904 13.366 61 28.057 23.946
16 13.995 13.436 62 28.959 24.600
17 14.087 13.508 63 29.918 25.299
18 14.180 13.581 64 30.941 26.048
19 14.274 13.658 65 32.031 26.850
20 14.370 13.737 66 33.194 27.711
21 14.469 13.818 67 34.439 28.637
22 14.571 13.904 68 35.771 29.633
23 14.678 13.993 69 37.201 30.706
24 14.789 14.086 70 38.737 31.863
25 14.906 14.184 71 40.387 33.111
26 15.029 14.286 72 42.162 34.459
27 15.157 14.392 73 44.070 35.916
28 15.292 14.502 74 46.121 37.490
29 15.434 14.618 75 48.322 39.194
30 15.583 14.740 76 50.682 41.038
31 15.739 14.866 77 53.208 43.036
32 15.904 14.999 78 55.908 45.204
33 16.077 15.138 79 58.788 47.556
34 16.260 15.284 80 61.854 50.109
35 16.452 15.436 81 65.114 52.878
36 16.654 15.596 82 68.574 55.879
37 16.868 15.764 83 72.240 59.129
38 17.093 15.940 84 76.118 62.643
39 17.330 16.124 85 80.214 66.436
40 17.581 16.318 86 84.532 70.520
41 17.845 16.521 87 89.076 74.905
42 18.125 16.735 88 93.847 79.596
43 18.420 16.959 89 98.842 84.589
44 18.732 17.195 90 104.058 89.867
45 19.063 17.442 91 109.528 95.394
46 19.412 17.703

* for lump sums paid on or after 1 July 1995 and before 1 January 2000

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Actuarial Table 4* (based on ALT 1995-1997)
Initial fortnightly amount of an indexed pension equivalent to a lump sum of $10,000 under Section 25A of the VEA

AGE NEXT BIRTHDAY MALES FEMALES AGE NEXT BIRTHDAY MALES FEMALES
1 12.923 12.617 47 19.278 17.721
2 12.934 12.625 48 19.640 17.997
3 12.982 12.664 49 20.024 18.288
4 13.035 12.706 50 20.431 18.594
5 13.090 12.750 51 20.862 18.918
6 13.148 12.796 52 21.320 19.259
7 13.210 12.844 53 21.806 19.620
8 13.274 12.894 54 22.322 20.002
9 13.340 12.946 55 22.871 20.406
10 13.410 13.000 56 23.454 20.834
11 13.482 13.057 57 24.075 21.288
12 13.557 13.115 58 24.735 21.770
13 13.636 13.175 59 25.439 22.283
14 13.717 13.238 60 26.189 22.829
15 13.801 13.303 61 26.988 23.413
16 13.887 13.370 62 27.840 24.036
17 13.975 13.439 63 28.748 24.703
18 14.064 13.511 64 29.716 25.417
19 14.153 13.584 65 30.749 26.183
20 14.244 13.660 66 31.852 27.005
21 14.337 13.740 67 33.029 27.889
22 14.435 13.822 68 34.286 28.841
23 14.536 13.908 69 35.631 29.866
24 14.642 13.999 70 37.072 30.974
25 14.754 14.093 71 38.617 32.171
26 14.870 14.192 72 40.278 33.469
27 14.991 14.294 73 42.071 34.880
28 15.118 14.402 74 44.012 36.415
29 15.252 14.514 75 46.120 38.089
30 15.392 14.630 76 48.409 39.912
31 15.538 14.752 77 50.888 41.898
32 15.692 14.880 78 53.563 44.054
33 15.854 15.013 79 56.441 46.392
34 16.024 15.152 80 59.524 48.920
35 16.202 15.297 81 62.815 51.656
36 16.390 15.450 82 66.315 54.624
37 16.588 15.609 83 70.021 57.856
38 16.796 15.777 84 73.926 61.377
39 17.015 15.953 85 78.016 65.206
40 17.246 16.137 86 82.268 69.353
41 17.490 16.331 87 86.645 73.808
42 17.748 16.534 88 91.090 78.536
43 18.021 16.748 89 95.515 83.481
44 18.309 16.973 90 99.799 88.585
45 18.613 17.210 91 103.788 93.783
46 18.936 17.459

* for lump sums paid on or after 1 January 2000 and before 1 July 2004

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Actuarial Table 5* (based on ALT 2000-2002)
Initial fortnightly amount of an indexed pension equivalent to a lump sum of $10,000 under Section 25A of the VEA

AGE NEXT BIRTHDAY MALES FEMALES AGE NEXT BIRTHDAY MALES FEMALES
1 12.824 12.556 47 18.655 17.343
2 12.835 12.565 48 18.977 17.597
3 12.881 12.602 49 19.318 17.865
4 12.931 12.643 50 19.679 18.147
5 12.983 12.685 51 20.062 18.444
6 13.038 12.729 52 20.467 18.757
7 13.095 12.775 53 20.898 19.088
8 13.154 12.822 54 21.354 19.438
9 13.216 12.872 55 21.839 19.807
10 13.281 12.924 56 22.354 20.198
11 13.348 12.977 57 22.901 20.612
12 13.418 13.033 58 23.482 21.052
13 13.491 13.091 59 24.099 21.517
14 13.566 13.151 60 24.757 22.013
15 13.644 13.213 61 25.456 22.540
16 13.725 13.276 62 26.201 23.102
17 13.807 13.342 63 26.994 23.703
18 13.890 13.410 64 27.841 24.346
19 13.973 13.480 65 28.745 25.035
20 14.058 13.553 66 29.712 25.775
21 14.146 13.628 67 30.747 26.571
22 14.238 13.707 68 31.858 27.427
23 14.334 13.788 69 33.050 28.350
24 14.434 13.874 70 34.330 29.344
25 14.538 13.962 71 35.707 30.417
26 14.646 14.055 72 37.187 31.575
27 14.758 14.152 73 38.776 32.825
28 14.875 14.253 74 40.484 34.175
29 14.998 14.358 75 42.319 35.635
30 15.127 14.468 76 44.286 37.223
31 15.262 14.583 77 46.395 38.963
32 15.404 14.703 78 48.654 40.873
33 15.553 14.828 79 51.069 42.963
34 15.710 14.959 80 53.652 45.239
35 15.874 15.095 81 56.445 47.704
36 16.047 15.238 82 59.491 50.364
37 16.228 15.388 83 62.788 53.223
38 16.419 15.544 84 66.293 56.283
39 16.619 15.708 85 69.953 59.548
40 16.830 15.880 86 73.711 63.017
41 17.051 16.059 87 77.514 66.691
42 17.285 16.248 88 81.311 70.567
43 17.530 16.446 89 85.060 74.637
44 17.789 16.654 90 88.729 78.889
45 18.063 16.872 91 92.317 83.299
46 18.351 17.102

* for lump sums paid on or after 1 July 2004

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