Superannuation (PSS) Maximum Benefits (2014-2015) Determination 2014

Link to law: https://www.comlaw.gov.au/Details/F2014L00651

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Superannuation (PSS)
Maximum Benefits (2014-2015)
Determination 2014
 
 
 
I, STEPHEN PAUL WHITTON, Director, Manual Calculations, Position No. 44, 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          30 May 2014
 
 
 
S WHITTON
Delegate of Commonwealth Superannuation Corporation
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1          Name of Determination
 
This Determination is the Superannuation (PSS) Maximum Benefits
(2014-2015) Determination 2014.
 
 
2          Commencement
 
          This determination shall take effect from and including 1 July 2014.     
 
 
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 2014, 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 $67,500.00
 
$675,000.00
 

 
$67,500.00 and over
 
10 times average salary
 

 
 
4                    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 2014, 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 $67,500.00
 
$675,000.00
 

 
$67,500.00 and over
 
10 times average salary
 

5                    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 2014, 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 $67,500.00
 
$945,000.00
 

 
$67,500.00 and over
 
14 times average salary