OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)

SCHEDULE 1A - PAYMENT LIMITS  

(subregulations 3E(4) and 3F(4) )

CLAUSE 1  

1    
Subject to clauses 3 and 4, the maximum limits mentioned in paragraph 3E(4)(f) or 3F(4)(e) are determined under the formula:

AB PVF

where:

AB
means the amount of the annuity account balance, or pension account balance, as the case requires:

(a) on 1 July in the financial year in which the payments are made; or

(b) if that year is the year in which the annuity payments, or pension payments, commence - on the commencement day; and

PVF
means the maximum pension valuation factor set out in Column 3 in Schedule 1A in relation to the item in the Schedule that represents the age of the beneficiary on:

(a) 1 July in the financial year in which the payments are made; or

(b) if that is the year in which the annuity payments, or pension payments, commence - the commencement day.