OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)

PART IA - REASONABLE BENEFIT LIMITS  

Division 4 - Determinations  

REGULATION 4ZB   REASONABLE BENEFIT LIMIT WHERE RECIPIENT MEMBER OF CERTAIN FUND ON 15 AUGUST 1989  

4ZB(1)   [ Benefits paid before 1/7/92 ]  

If, in respect of a benefit paid before 1 July 1992:

(a) the Commissioner is to calculate a person ' s reasonable benefit limits in relation to a superannuation pension commencing to be paid to the person; and

(b) the pension is payable by a superannuation fund of which the person was a member on 15 August 1989; and

(c) the rules of the fund allowed, on that day, the provision of a pension for the person the capital value of which exceeded 11.25 times any amount treated as salary of the person under those rules;

the person ' s reasonable benefit limits are to be the greater of the person ' s lump sum RBL or pension RBL (whichever of those is to be applied under regulation 4X or 4Z ) and the capital value of the pension.

4ZB(2)   [ Benefits paid on or after 1/7/92 ]  

If, in respect of a benefit payable on or after 1 July 1992:

(a) the Commissioner is to make a determination under regulation 4W in relation to a superannuation pension that:

(i) has commenced to be paid to a person; and

(ii) is payable under rules that meet the standards of subregulation 3F(2) ;

(b) the pension is payable by a superannuation fund of which the person was a member on 15 August 1989;

the person ' s reasonable benefit limits are the greater of the person ' s lump sum RBL or pension RBL (whichever of those is applied under regulation 4X or 4Z ) and the capital value of the pension under the governing rules of the fund as at 15 August 1989.