Commonwealth Consolidated Regulations

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OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS - REG 4R

Amounts of superannuation pensions counted towards reasonable benefit limits

         (1)   The following amounts are to be counted towards the reasonable benefit limits of a person in respect of a superannuation pension (other than a disability superannuation pension) payable to the person:

                (a)    the amount worked out by multiplying the capital value of the pension by the number of days (if any) in the eligible service period of the pension that occurred before 1 July 1983 and dividing the product by the total number of days in the eligible service period;

               (b)    if the pension is a rebatable superannuation pension -- the amount worked out by multiplying the capital value of the pension by the number of days in the eligible service period of the pension that occurred after 30 June 1983 and dividing the product by the total number of days in the eligible service period;

                (c)    if the pension is not a rebatable superannuation pension -- 80% of the amount referred to in paragraph (b).

         (2)   The following amounts are to be counted towards the reasonable benefit limits of a person in respect of a disability superannuation pension payable to the person:

                (a)    the amount worked out by multiplying the accrued retirement benefit component of the pension by the number of days (if any) in the eligible service period of the pension that occurred before 1 July 1983 and dividing the product by the total number of days in the eligible service period;

               (b)    if the pension is a rebatable superannuation pension -- the amount worked out by multiplying the accrued retirement benefit component of the pension by the number of days in the eligible service period of the pension that occurred after 30 June 1983 and dividing the product by the total number of days in the eligible service period;

                (c)    if the pension is not a rebatable superannuation pension -- 80% of the amount referred to in paragraph (b).



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