Amount of pension bonus
45UG Amount of pension bonus
No change in couple status during overall qualifying period
If:
a person either:
was a member of a couple throughout the person’s overall qualifying period; or
was not a member of a couple at any time during that period; and
the person remained eligible for the same pension throughout that period; and
if the person is a war widow/war widower—pensioner—the person was such a person during the whole of the person’s overall qualifying period;
the amount of the person’s pension bonus is worked out using the following formula (for rounding up, see subsection (4)):
Start formula annual pension rate times pension multiple times number of years in the person's overall qualifying period end formula
If:
a person either:
was a member of a couple throughout the person’s overall qualifying period; or
was not a member of a couple at any time during that period; and
the person is a war widow/war widower—pensioner; and
the person was not a war widow/war widower—pensioner throughout some or all of the person’s overall qualifying period;
the amount of the person’s pension bonus is worked out using the following formula (for rounding up, see subsection (4)):
Start formula apportioned amount times pension multiple times number of years in the person's overall qualifying period end formula
where:
apportioned amount has the meaning given by section 45UIA.
Change in couple status during overall qualifying period
If neither subsection (1) nor (1A) applies to a person, the amount of the person’s pension bonus is worked out using the following formula (for rounding up, see subsection (4)):
Start formula open square bracket annual notional single pension rate times pension multiple times number of single years during overall qualifying period close square bracket plus open square bracket annual notional partnered pension rate times pension multiple times number of partnered years during overall qualifying period close square bracket end formula
where:
annual notional single pension rate has the meaning given by section 45UH.
annual notional partnered pension rate has the meaning given by section 45UI.
For the purposes of this section:
the number of single years during the overall qualifying period is the number of years during the overall qualifying period when the person was not a member of a couple; and
the number of partnered years during the overall qualifying period is the number of years during the overall qualifying period when the person was a member of a couple.
Rounding up
An amount calculated under subsection (1), (1A) or (2) is to be rounded to the nearest 10 cents (with 5 cents being rounded up).
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