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SUPERANNUATION ACT 1976 - SECT 146MC

Associate deferred benefits

  (1)   Associate deferred benefits consist of:

  (a)   a lump sum equal to the funded component of the transfer amount, plus interest determined under section   154A; and

  (b)   an associate deferred pension at an annual rate calculated under the Orders by reference to the unfunded component.

  (2)   The benefits become payable at the later of:

  (a)   the operative time; and

  (b)   the earliest of the following dates:

  (i)   if CSC is satisfied that the non - member spouse has, because of invalidity or physical or mental incapacity, become totally and permanently incapacitated within the meaning of Part   IVA--the date that CSC considers to have been the date on which the person became so incapacitated;

  (ii)   a date notified to CSC under subsection   (3);

  (iii)   the 65th anniversary of the non - member spouse's birth.

  (3)   The non - member spouse may give a written notice to CSC specifying a date that is not earlier than the 55th anniversary of the non - member spouse's birth. However, the notice has no effect if, under the SIS Act, the associate deferred pension is not permitted to be paid in cash to the non - member spouse from the specified date.

  (4)   The benefits are not payable unless:

  (a)   a written application has been made to CSC requesting payment of the benefits; and

  (b)   the applicant has given CSC any information that is necessary to enable CSC to determine whether the benefits are payable.

  (5)   If the non - member spouse dies before the benefits become payable, CSC must pay the following amounts to the legal personal representative or, if no legal personal representative can be found, to any individual or individuals that CSC determines:

  (a)   the amount referred to in paragraph   (1)(a);

  (b)   an amount calculated under the Orders in respect of the associate deferred pension.

  (6)   When the amount referred to in paragraph   (1)(a) becomes payable, or is paid under paragraph   (5)(a), an equal amount must be paid out of the Superannuation Fund to the Commonwealth.



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