Superannuation (PSS)
Maximum Benefits (2006-2007) Determination 2006
 
Select Legislative Instrument 2006 No.
 
I,  MATTHEW ARTHUR CASTLE, Manager of the Australian Public Service Defined Benefit Schemes, Commonwealth Superannuation Administration, Position No. 44, and Delegate of the PSS Board, pursuant to rules B5.6.5 and B5.7.7 of Section B of the PSS Rules, DETERMINE as follows:
 
 
Dated               14 June 2006
 
 
 
 
 
Matthew Castle
 
Delegate of the PSS Board
1          Name of Determination
 
This Determination is the Superannuation (PSS) Maximum Benefits
(2006-2007) Determination 2006.
 
 
2          Commencement
 
          This determination shall take effect from and including 1 July 2006.     
 
 
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 2006, 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 $49,366
$394,926

    $49,366 or more
         but less than $78,980
8 times average salary

    $78,980 or more
         But less than $146,610
$157,960
plus 6 times average salary

    $146,610 or more
$597,790
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 2006, 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 $49,366
$555,368

$49,366 or more
but less than $78,980
11.25 times average salary

$78,980 or more
but less than $146,610
$236,940
plus 8.25 times average salary

$146,610 or more
 
$676,770
plus 5.25 times average salary