Increases in pensions
121 Increases in pensions
Subject to this Part, if the all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the first quarter of the half‑year immediately preceding a prescribed half‑year exceeds the highest all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the first quarter in any earlier half‑year, not being a half‑year earlier than the half‑year that commenced on 1 July 1985, a person who was in receipt of a pension immediately before the commencement of that prescribed half‑year is entitled to an increase, as ascertained in accordance with this section, in the rate at which the pension was payable immediately before the commencement of that prescribed half‑year.
The increase provided for by subsection (1) in the rate at which a pension was payable to a person immediately before the commencement of a prescribed half‑year is the prescribed percentage of that rate.
(3) For the purposes of this section, the prescribed percentage, in relation to a prescribed half‑year, is the percentage that represents A—B expressed as a percentage of B, where:
A is the all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the first quarter of the half‑year immediately preceding the prescribed half‑year; and
B is the highest all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the first quarter of any half‑year earlier than the half‑year immediately preceding the prescribed half‑year but not being earlier than the half‑year that commenced on 1 July 1985.
Where, by reason of the death on 30 June or 31 December (as the case requires) in the half‑year immediately preceding a prescribed half‑year of a person in receipt of a pension, a pension becomes payable on the following day to another person, that other person shall be entitled to such an increase in the rate of that pension as the person would have been entitled to had the pension become payable to the person on that 30 June or 31 December (as the case requires).
This provision refers to the regulations (prescribed percentage
). Made under this Act:
- Superannuation (Family Law—Superannuation Act 1922) Orders 2004 · Legislative Instrument · under s 93DE (1)
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