Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Pension is payable:
(a) in arrears; and
(b) by instalments relating to each pension period.
(2) The amount payable to a person as an instalment of pension in relation to a pension period is the total amount of pension payable to the person for the days in that period on which pension was payable to the person.
(3) An instalment of pension is payable on the next payday after the end of the pension period to which the instalment relates.
(4) For the purpose of the calculation of the amount of an instalment of pension, the rate of pension payable to a person for a day is calculated by dividing the annual rate of pension by 364.
(5) The amount worked out under subsection (4) is to be rounded to the nearest cent (rounding half a cent upwards).
(7) If:
(a) an amount of an instalment of service pension or income support supplement is payable to a person in relation to a particular day; and
(b) on that day, the person is residing in Australia and:
(i) is in Australia; or
(ii) is temporarily absent from Australia and has been so for a continuous period not exceeding 13 weeks; and
(c) there is no election by the person under subsection 60A(1) in force on that day; and
(d) apart from this subsection, the portion of the instalment corresponding to that day would be less than the person's minimum daily rate, but more than a nil amount;
the amount of that portion of the instalment is to be increased to the person's minimum daily rate.
(8) In this section:
"minimum daily rate" , for a person, means 1 / 364 of the person's minimum pension supplement amount.
(9) If, apart from this subsection, the amount of a fortnightly instalment of pension would be less than $1.00, the amount of the instalment is to be increased to $1.00.
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