Commonwealth Numbered Acts

DEFENCE FORCE RETIREMENT AND DEATH BENEFITS ACT 1973 No. 81 of 1973 - SECT 59

59. (1) Pension benefit shall be paid in fortnightly instalments.

(2) The amount of a fortnightly instalment of pension benefit shall be an
amount ascertained by dividing the amount per annum of the pension benefit by
three hundred and sixty-five and multiplying the result by fourteen.

(3) Where the amount of a fortnightly instalment of pension benefit includes a
fraction of a cent-

   (a)  if the fraction is less than one-half of a cent-the amount of the
        instalment shall be deemed to be reduced by the amount of the
        fraction; or

   (b)  if the fraction is one-half of a cent or more-the amount of the
        instalment shall be deemed to be increased by treating the fraction as
        one cent.

(4) The amount of pension benefit payable in respect of a day is
one-fourteenth of the amount of a fortnightly instalment of the pension
benefit.