Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a superannuation interest under this Act (the original interest ) if:
(a) the Secretary of the Department receives a splitting agreement or splitting order in respect of the original interest; and
(b) the original interest is not an entitlement to a non - standard pension; and
(c) the member spouse and the non - member spouse are both alive at the operative time; and
(d) if a base amount applies--the base amount at the operative time is not more than the family law value or scheme value.
Note: If the same superannuation interest is subject to 2 or more payment splits, then this section applies separately in relation to each of those splits.
Immediate pension if operative time in payment phase
(2) If, at the operative time, a standard pension is payable in respect of the original interest, then the non - member spouse is entitled to an associate immediate pension from the operative time at the rate calculated under the Pension Orders by reference to the transfer amount.
Deferred pension if operative time in growth phase
(3) If, at the operative time, a standard pension is not payable in respect of the original interest, then the non - member spouse is entitled to an associate deferred pension in accordance with section 17AB.
Rounding of transfer amount
(4) For the purposes of subsection (2), the transfer amount is to be rounded to the nearest cent (rounding 0.5 cents upwards).