Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Section 74 does not authorize the commutation of a pension in so far as the pension has been increased by virtue of this Part.
(2) Where:
(a) a portion of the pension of a person is commuted during a prescribed half - year; and
(b) the person became entitled at the commencement of that half - year to an increase under this Part in the rate at which pension was payable to him immediately before the commencement of that half - year;
the rate at which the pension is payable to him on and after the date on which that portion of the pension is so commuted is the rate at which the pension would have been payable to him at the commencement of that half - year if he had so commuted that portion of his pension on the date on which he became entitled to the pension.