Commonwealth Consolidated Acts

SOCIAL SECURITY ACT 1991 - SECT 92T

Full - year bonus period

  (1)   The first bonus period that accrues to a person is the full - year period of the person's accruing membership of the pension bonus scheme:

  (a)   that began on whichever of the following dates is applicable:

  (i)   if the person was an accruing member of the pension bonus scheme on the date the person's registration as a member took effect--the date the registration took effect;

  (ii)   in any other case--the date on which the person first became an accruing member of the pension bonus scheme; and

  (b)   for which the person passes the work test.

Note:   Accruing membership is defined by section   92N.

  (2)   Each succeeding full - year period of the person's accruing membership of the pension bonus scheme:

  (a)   that is specified in the person's claim for pension bonus; and

  (b)   for which the person passes the work test;

is a bonus period that accrues to the person.

Part - year bonus period

  (3)   A part - year period of the person's accruing membership of the pension bonus scheme is a bonus period that accrues to the person if:

  (a)   the person passes the work test for that period; and

  (b)   the person specifies the period in the person's claim for pension bonus; and

  (c)   the period begins immediately after the end of a full - year bonus period that accrues to the person; and

  (d)   the period is the last bonus period that accrues to the person.

Note:   Accruing membership is defined by section   92N.

Bonus periods must be consecutive

  (4)   A person cannot accrue more than one bonus period unless:

  (a)   the bonus periods are consecutive; or

  (b)   the bonus periods are separated only by a period of non - accruing membership.