Social Security and Other Legislation Amendment (Pension Reform and Other 2009 Budget Measures) Act 2009 (60 of 2009)

Schedule 4   Pension supplements

Part 3   Seniors supplement and quarterly pension supplement

Social Security (Administration) Act 1999

34   Section 48B

Repeal the section, substitute:

48B Payment of seniors supplement

(1) Seniors supplement is to be paid by instalments.

(2) An instalment of seniors supplement is to be paid to a person as soon as is reasonably practicable on or after the first seniors supplement test day (the current test day ) that follows a day on which the person is qualified for seniors supplement.

(3) The amount of the instalment is worked out by multiplying the person's daily rate of seniors supplement by the number of days during the test period on which the person was qualified for seniors supplement.

(4) In this section:

seniors supplement test day means:

(a) 20 March; or

(b) 20 June; or

(c) 20 September; or

(d) 20 December.

test period means the period:

(a) starting on the most recent supplement test day before the current test day; and

(b) ending on the day immediately before the current test day.

48C Payment of quarterly pension supplement

(1) Quarterly pension supplement is to be paid by instalments.

(2) An instalment of quarterly pension supplement is to be paid to a person as soon as is reasonably practicable on or after the first supplement test day (the current test day ) that follows a day on which an election by the person under subsection 1061VA(1) is in force.

(3) The amount of the instalment is worked out as follows:

Method statement

Step 1. Divide the person's annual rate of quarterly pension supplement by 4.

Step 2. Multiply the person's daily rate of quarterly pension supplement by the number of days (if any) during the test period for which an election by the person under subsection 1061VA(1) was not in force.

Step 3. Multiply the person's daily rate of quarterly pension supplement by the number of days (if any) during the test period:

(a) on which the person was qualified for seniors supplement; and

(b) for which an election by the person under subsection 1061VA(1) was in force.

Step 4. From the result of step 1, subtract the results of steps 2 and 3.

(4) In this section:

supplement test day means:

(a) 20 March; or

(b) 20 June; or

(c) 20 September; or

(d) 20 December.

test period means the period:

(a) starting on the most recent supplement test day before the current test day; and

(b) ending on the day immediately before the current test day.