Superannuation (Portability) Act 1989

If a person entitled to a deferred retirement benefit dies there is payable to his or her personal representative or dependants the benefits that the administrators determine having regard to—

the governing instrument of the member's statutory superannuation scheme as in force at the time the member made the election under section 5(1); and

any other matter they consider relevant.

If a person entitled to a deferred retirement benefit ceases to be gainfully employed on account of disability there is payable the benefits that the administrators determine having regard to—

the governing instrument of the member's statutory superannuation scheme as in force at the time the member made the election under section 5(1); and

any other matter they consider relevant.

If any person is in receipt of a deferred retirement pension he or she is entitled to receive any increase in the amount of the pension payable under the terms of the statutory superannuation scheme or in accordance with any decision of the administrators on the same basis as other persons receiving pensions under the statutory superannuation scheme.

If the aggregate of—

lump sum benefits payable from statutory superannuation schemes; and

pensions payable for statutory superannuation schemes multiplied by CR—

If a person becomes entitled to a deferred retirement pension and the pension under the statutory superannuation scheme carried an entitlement to a partner pension, the entitlement to the deferred retirement pension carries with it an entitlement to a partner pension on the same basis as under the statutory superannuation scheme.

If a member entitled to a deferred retirement pension reaches the minimum retirement age fixed in the governing instrument of the member's statutory superannuation scheme at any age other than 60 years, the amount of the deferred retirement pension is the amount calculated under section 6 multiplied by

If a person who would be entitled to a deferred retirement benefit by the operation of section 5 is subject to the termination of his or her employment prior to attaining the minimum retirement age fixed in the governing instrument of the member's statutory superannuation scheme on a ground other than disability or death, he or she may elect to receive—

a cash benefit equal to a refund of the contributions paid by him or her and interest at the prescribed rate; and

a deferred retirement benefit reduced by such amount as is determined by the Minister on the advice of an actuary.

A person who is entitled under subsection (7) to a deferred retirement benefit by the operation of section 5 may elect in writing to the administrators to—

convert the entitlement to a present lump sum; and

have the lump sum rolled over or transferred within the superannuation system as nominated by the person.

The method of calculating the conversion under subsection (7A) is to be determined by the Minister on the advice of an actuary appointed by the administrators.

Subsection (7) applies in respect of any deferred retirement benefit to which a person may be entitled as a result of a previous transfer to a different category of membership or scheme in the same Fund or to another Fund established by or under an Act if the deferred retirement benefit and the benefit preserved under this Act relate to a period of continuous employment.