Superannuation (PSS)
Maximum Benefits (2007-2008) Determination 2007
Select Legislative Instrument 2007 No.
I, MATTHEW ARTHUR CASTLE, Manager of the Australian Public Service Sector Defined Benefit Schemes, Commonwealth Superannuation Administration, Position No. 44, and Delegate of the PSS BoardAustralian Reward Investment Alliance, , pursuant to rules B5.6.5 and B5.7.7 of Section B of the PSS Rules, DETERMINE as follows:
Dated 7 June 2007
M CASTLE
Delegate of the PSS BoardAustralian Reward Investment Alliance
1 Name of Determination
This Determination is the Superannuation (PSS) Maximum Benefits
(2007-2008) Determination 2007.
2 Commencement
This determination shall take effect from and including 1 July 2007.
3 Maximum Benefits – Lump Sums
For rules B5.6.5 and B5.7.7 of the PSS Rules, the tables in rules B5.6.1 and B5.7.1 have effect, for the financial year starting on 1 July 2007, as if the amounts specified in the following table were substituted for the amounts specified in those tables:
Table
Maximum Benefits
Average Salary
Maximum Benefit
Less than $51,010
$408,080
$51,010 or more
but less than $81,610
8 times average salary
$81,610 or more
But less than $151,500
$163,220
plus 6 times average salary
$151,500 or more
$617,720
plus 3 times average salary
4 Maximum Benefits – Pensions
For rule B5.7.7 of the PSS Rules, the table in rule B5.7.2 have effect, for the financial year starting on 1 July 2007, 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 $51,010
$573,863
$51,010 or more
but less than $81,610
11.25 times average salary
$81,610 or more
but less than $151,500
$244,830
plus 8.25 times average salary
$151,500 or more
$699,330
plus 5.25 times average salary
