Superannuation (PSS) Maximum Benefits (2005-2006) Determination 2005
I, MICHAEL JOHN SIMPSON, Manager of the Civilian Defined Benefit Schemes Administration Section, Commonwealth Superannuation Administration, Position No. 44, and delegate of the PSS Board, pursuant to rules 5.6.5 and 5.7.7 of the PSS Rules, DETERMINE as follows: Dated this twenty-ninth day of June 2005 M. Simpson Delegate of the PSS Board 1 Name of Determination
This Determination is the Superannuation (PSS) Maximum Benefits (2005-2006) Determination 2005. 2 Commencement This determination shall take effect from and including 1 July 2005. 3 Maximum Benefits – Lump Sums For rules 5.6.5 and 5.7.7 of the PSS Rules, the tables in rules 5.6.1 and 5.7.1 have effect, for the financial year starting on 1 July 2005, 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 $47,235
$377,875
$47,235 or more but less than $75,570
8 times average salary
$75,570 or more but less than $140,280
$151,140 plus 6 times average salary
$140,280 or more
$571,980 plus 3 times average salary
4 Maximum Benefits – 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 2005, as if the amounts specified in the following table were substituted for the amounts specified in that table:
Table
AFP Preliminary Maximum Benefits
Pensions
Average Salary
Preliminary
Maximum Benefit
Less than $47,235
$531,394
$47,235 or more but less than $75,570
11.25 times average salary
$75,570 or more but less than $140,280
$226,710 plus 8.25 times average salary
$140,280 or more
$647,550 plus 5.25 times average salary
5 Revocation The PSS (Maximum Benefits) Determination No 1, as amended, is revoked.
Note:
