Interest accrued on preserved GSS withdrawal benefit
46 Interest accrued on preserved GSS withdrawal benefit
Interest accrues on a Gold State Super Member’s preserved GSS withdrawal benefit —
at a rate equal to —
if the Member is under 55 years of age, the CPI rate plus 1%; or
if the Member is 55 years of age or older, the CPI rate plus 2%;
and
from the day on which the Member became entitled to the benefit up to, but not including, the day on which it becomes payable; and
in a manner determined by the Board.
Interest accrued under subregulation (1) forms part of the Gold State Super Member’s preserved GSS withdrawal benefit.
If the amount of a Gold State Super Member’s preserved GSS withdrawal benefit is reduced, interest continues to accrue on any remaining amount of the Member’s benefit under subregulation (1).
[Regulation 46 amended: Gazette 26 May 2006 p. 1926-7; 13 Apr 2007 p. 1598; SL 2025/131 r. 6.]
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