Commonwealth Consolidated Acts

SOCIAL SECURITY ACT 1991 - SECT 93D

  (1)   To calculate the amount of a person's pension bonus:

  (a)   work out which of the person's bonus periods count as qualifying bonus periods (see section   93E);

  (b)   work out the person's overall qualifying period (see section   93F);

  (c)   work out the person's pension multiple (see section   93G);

  (d)   work out the person's annual pension rate (see section   93H);

  (e)   apply the appropriate formula in section   93J.

Note:   Bonus period is defined by section   92T.

  (2)   For the purposes of this Division, a number of years is to be calculated to 3 decimal places. However, if a number worked out in accordance with this subsection would, if it were calculated to 4 decimal places, end in a digit that is greater than 4, the number is to be increased by 0.001.