New South Wales Consolidated Acts

STATE AUTHORITIES NON-CONTRIBUTORY SUPERANNUATION ACT 1987 - SECT 22

22 Basic benefit

(1) The basic benefit provided by this Act for an employee is an amount equal to the amount calculated in accordance with the formula:

"B" represents the amount to be ascertained,
"F" represents:

(a) in the case of the employee’s death or retrenchment, or the employee ceasing to be employed because of physical or mental incapacity, before reaching the age of 55 years-the employee’s final salary, or

(b) in any other case-the employee’s final average salary, and

"Y" represents the years of eligible service on a daily basis, commencing on or after the appointed day.

(2) The regulations may make provision for or with respect to the determination of the basic benefit for irregular employees.

(3) The regulations may make provision for or with respect to the determination of eligible service for the purposes of this Act, including the manner of determining the length of eligible service where part-time work, irregular employment, leave without pay, secondment or a break in employment is involved.

(4) If STC makes a determination under section 26A in relation to a basic benefit to be provided by this section, the amount of that benefit is reduced by the amount specified in STC’s determination.

(5) For the purpose of determining the amount of a basic benefit provided by section 24 that becomes payable in respect of a person within 12 months after the person:

(a) has been appointed as a chief executive officer, senior executive officer or police executive officer, or

(b) has been nominated as an office holder for the purposes of section 11A of the Statutory and Other Offices Remuneration Act 1975 ,

the person’s salary is taken to be his or her salary as an employee immediately before the appointment or nomination took effect.