Payment of quarterly pension supplement
60C Payment of quarterly pension supplement
Quarterly pension supplement is to be paid by instalments.
An instalment of quarterly pension supplement is to be paid to a person as soon as is reasonably practicable after the end of an instalment period.
The amount of the instalment is worked out by multiplying the person’s daily rate of quarterly pension supplement by the number of days in the instalment period.
If:
an election by the person under subsection 60A(1) is in force on a particular day; and
apart from this subsection, the portion of the instalment of the person’s quarterly pension supplement that corresponds to that day would be reduced under subclause 4(4) of Schedule 6, but not reduced to a nil amount;
the amount of that portion of the instalment is not to be reduced under subclause 4(4) of Schedule 6.
In this section:
instalment period means a period:
in relation to each day of which quarterly pension supplement is payable to the person; and
For when quarterly pension supplement is payable to the person, see section 60A.
that either begins on any 20 March, 20 June, 20 September or 20 December or does not include any such day; and
that either ends on any 19 March, 19 June, 19 September or 19 December or does not include any such day; and
that is not included in a longer instalment period.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.