Social Security (Value of Asset-tested Income Streams (Lifetime)) (Number of Expected Years) Instrument 2025
I, Gillian Beer, delegate of the Secretary of the Department of Social Services, make the following notifiable instrument.
Dated 24.02.2025
Gillian Beer
Branch Manager, Payment Structures and Seniors Branch
Delegate of the Secretary of the Department of Social Services
Contents
1 Name...............................................1
2 Commencement.........................................1
3 Authority.............................................1
4 Schedules.............................................1
5 Number of expected years...................................1
Schedule 1—Repeals 2
Social Security (Number of Expected Years) Instrument 2019 2
1 Name
This instrument is the Social Security (Value of Asset-tested Income Streams (Lifetime)) (Number of Expected Years) Instrument 2025.
2 Commencement
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | 1 January 2025 |
|
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under subsection 1120AB(11) of the Social Security Act 1991.
4 Schedules
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
5 Number of expected years
For the purposes of step 1 of the method statement in subsection 1120AB(9) of the Social Security Act 1991, the number of expected years is 20.30 years.
Schedule 1—Repeals
Social Security (Number of Expected Years) Instrument 2019
1 The whole of the instrument
Repeal the instrument