New South Wales Consolidated Acts

POLICE REGULATION (SUPERANNUATION) ACT 1906 - SECT 14AC

14AC Commutation of pensions for adjustment of benefits

(1) If a determination reducing a benefit that may be taken in the form of a pension is made under section 14AA, STC may, at its discretion and with the consent of the contributor or former contributor concerned, commute part of the pension to a lump sum for the purposes of payment to STC of the amount of the reduction.

(2) Commutation of part of a pension under this section:

(a) does not affect any other right that the contributor or former contributor has to commute the pension under this Act, and

(b) is not to be taken into account for the purpose of determining whether, and to what extent, any such other right may be exercised, and

(c) is to be done on a basis determined by STC for the purposes of this section.

(3) STC may obtain actuarial advice for the purpose of determining the basis on which part of a pension is to be commuted under this section.

(4) This section has effect despite any other provision of this Act.