Victorian Consolidated Legislation

Emergency Services Superannuation Act 1986 - SECT 22D

Commutation of pension not exceeding declared rate

22D. Commutation of pension not exceeding declared rate



(1) This section applies to a person who is entitled to a pension administered
by the Board under this Act at a rate per year which does not exceed the
declared rate.

(2) Notwithstanding anything to the contrary in this Act, the Board may at its
discretion determine that instead of a pension the person may elect to receive
a lump sum payment as determined by the Board on the advice of an actuary.

(3) If a person elects to accept a lump sum payment under subsection (2), the
Board is released from any liability to make any further payments to, or in
respect of, any entitlements of that person or any of his or her dependants
and this Act ceases to apply to that person.

(4) In this section, declared rate means-

   (a)  $520 per year; or

   (b)  such higher rate per year as may be declared from time to time by the
        Minister by Order published in the Government Gazette.

__________________