Defence Forces Retirement Benefits Act 1948

This section applies in relation to a member who is an officer at the time when he becomes a contributor, or becomes an officer after that time, and:

to or in respect of whom a transfer value or transfer values became payable in accordance with paragraph 82Q(1)(a) but in relation to whom section 82R does not apply; or

in relation to whom paragraph 82Q(1)(b), (c), (d), (e) or (f) applies, whether or not section 82R applies in relation to him.

For the purposes of this Act, the category number of a member in relation to whom this section applies is the number that, but for this section, would be his category number reduced by such number (if any) as is determined by the Authority.

In furnishing advice to the Authority in relation to the determination by the Authority, for the purposes of subsection (2), of a number in relation to a member, the Commonwealth Actuary shall have regard to actuarial principles and practice and shall take into account all relevant matters, including:

in respect of any transfer value referred to in paragraph 82Q(1)(a) or (b) that was, or would have become, payable to the member:

the amount of that transfer value; and

the extent to which that transfer value was, or would have been, based upon contributions under the relevant superannuation scheme by the employer of the member and the extent (if any) to which it was, or would have been, based upon contributions by the member;

in respect of any pension referred to in paragraph 82Q(1)(c) or (d) that is, or would have become, payable to the member:

the amount that was the amount of that pension at the date on which he became an officer or the date on which he became a contributor, whichever was the later, or would have been the amount of the pension at that later date if the pension had become payable to the member; and

whether, in the event of the death of the member leaving a widow or a child or children, any benefits would be payable under the relevant superannuation scheme to the widow or in respect of the child or children or would have been so payable if the pension had become payable to the member;

in respect of any deferred benefits referred to in paragraph 82Q(1)(e) or (f) that are, or would have become, applicable in respect of the member:

the nature of the deferred benefits;

the circumstances in which the benefits were to become, or would have become, payable; and

the amount of any pension or lump sum that has or will become, or would have become, payable as, or as part of, the deferred benefits;

the age of the member at the date on which he became a contributor or the date on which he became an officer, whichever was the later;

the respective rates of mortality, invalidity and withdrawal from the Fund that are assumed, for the purposes of the advice, to apply in relation to the class of contributors in which the member is included; and

the rates of interest that it is assumed, for the purposes of the advice, will be earned by the assets of the Fund.

Where:

a transfer value became payable to or in respect of a member in accordance with paragraph 82Q(1)(a); and

a transfer value of a greater amount would have become so payable but for the doing of, or the failure to do, any act or thing referred to in paragraph 82Q(1)(b);

Where:

a transfer value became payable to or in respect of a member in accordance with paragraph 82Q(1)(a); and

a transfer value of a smaller amount would have become so payable but for the doing of, or the failure to do, any act or thing referred to in paragraph 82Q(1)(b);

The amount per fortnight of the contribution that, but for this section, would be payable by a member to whom this section applies is reduced by so much of that amount as the Authority determines, having regard to the reduction in his category number effected by subsection (2).