New South Wales Consolidated Acts

JUDGES' PENSIONS ACT 1953 - SECT 14

14 When lump sum benefit is payable

(1) A lump sum benefit calculated in accordance with section 13 is payable to or in respect of a judge or acting judge qualified under section 15:

(a) if the judge or acting judge dies, or

(b) if the judge or acting judge ceases to be employed as a judge or acting judge in the circumstances in which a benefit is payable for the purposes of complying with a relevant Commonwealth superannuation standard, or

(c) in any other circumstances in which a benefit is payable to comply with any such standard or may be paid in respect of a member of a regulated superannuation fund under any such standard,

and is so payable in accordance with subsections (4) and (5).

(2) If the whole or part of a lump sum benefit payable to a former judge or former acting judge would be required to be preserved if a relevant Commonwealth superannuation standard applied to the benefit, that amount must, on the election of the former judge or former acting judge, be paid to:

(a) a regulated superannuation fund, or

(b) an approved deposit fund, or

(c) an RSA institution.

(3) If the former judge or former acting judge does not make an election referred to in subsection (2), the amount is to be paid on behalf of the former judge or former acting judge to a regulated superannuation fund or approved deposit fund approved by the Attorney General.

(4) The lump sum benefit in respect of a former judge or former acting judge is payable:

(a) unless the former judge or former acting judge has died-to the former judge or former acting judge, or

(b) if the former judge or former acting judge has died and is survived by a surviving spouse-to the surviving spouse, or

(c) if the former judge or former acting judge has died and is not survived by a surviving spouse-to the legal personal representatives of the former judge or former acting judge for payment in respect of any eligible children of the former judge or former acting judge, or

(d) if the former judge or former acting judge has died and is not survived by a surviving spouse or any eligible children-to the legal personal representatives of the former judge or former acting judge.

(5) A lump sum payable under this section is charged on and payable out of the Consolidated Fund.

(6) For the purposes of this section, an acting judge whose term of appointment as an acting judge ends, and who is appointed for a further consecutive term as an acting judge, is taken not to have ceased to be employed as an acting judge.

(7) In this section:
"approved deposit fund" has the same meaning as it has in the Superannuation Industry (Supervision) Act 1993 of the Commonwealth.
"regulated superannuation fund" has the same meaning as it has in the Superannuation Industry (Supervision) Act 1993 of the Commonwealth.
"relevant Commonwealth superannuation standard" means a standard that would be applicable if a benefit were payable from a regulated superannuation fund.
"RSA institution" has the same meaning as it has in the Retirement Savings Accounts Act 1997 of the Commonwealth.