Victorian Consolidated Legislation

Police Regulation Act 1958 - SECT 64C

Indexation of pensions3

64C. Indexation of pensions3



(1) In this section-



consumer price index means the all groups consumer price index number for all
Capital Cities published by the Commonwealth statistician in respect of the
June quarter and the December quarter for each year;

prescribed half year means the half year ended 30 June 1989 or any subsequent
half year ending on 31 December or 30 June in which the consumer price index
is higher than the previous highest consumer price index in or since the half
year ended 30 June 1989;

prescribed percentage in relation to a prescribed half year after 30 June 1989
means the percentage calculated to two decimal places in accordance with the
formula-

where A is the consumer price index number for the prescribed half year and B
is the consumer price index for the next preceding prescribed half year.



(2) A pension under this Act, together with any supplementary pension granted
under the Pensions Supplementation Act 1966 (whether granted before on or
after the repeal of the Pensions Supplementation Act 1966), must-

   (a)  if it is then payable, be increased on the payment of the first
        instalment of pension in the month of December or June by an amount
        equal to one-sixth of the prescribed percentage for the next preceding
        prescribed half year (if any) of the pension for every whole month or
        part of a month during the preceding half year in respect of which a
        pension has been payable; or

   (b)  if for any reason it is not then payable, be notionally so increased
        as if then payable.

(3) If a pensioner becomes liable to have the amount of any pension,
allowance, subsidy, concession or other benefit payable to the pensioner under
the Social Security Act 1947 of the Commonwealth or the
Veterans' Entitlements Act 1986 of the Commonwealth reduced by reason of an
increase in the amount of the pensioner's fortnightly pension entitlement
under this Act, the ESS Board may, on the application in writing of the
pensioner at any time within the period commencing 3 months before the date on
which the reduction is due to take effect and ending 3 months after the date
on which the reduction took effect, convert the amount of the increase in the
pensioner's fortnightly pension entitlement to an equivalent entitlement by
way of a lump sum payment as determined by an actuary appointed by the Board.





(4) If an application by a pensioner under subsection (3) is approved by the
ESS Board, the pensioner is entitled to the lump sum payment on the day on
which the reduction in the amount of the Commonwealth pension or other benefit
is due to take effect or on the day on which the approval is given (whichever
is the later) and the pensioner's pension is to be reduced by the amount of
the pension entitlement converted to a lump sum on the day on which the
pensioner becomes entitled to the lump sum payment.

(5) An approval under this section operates to convert the proportion of the
fortnightly pension entitlement of the pensioner's spouse following the
pensioner's death that is identical to the proportion of the pensioner's
fortnightly pension entitlement that is converted.

Division 4-ESS Board



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