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SOCIAL SECURITY (INTERNATIONAL AGREEMENTS) ACT 1999 - SECT 13
Overall calculation process
A person's international agreement portability rate is worked out as follows:
- (a)
- the period of the person's Australian working life residence in Australia
(the residence period ) is worked out according to Division 2;
- (b)
- the person's residence factor is worked out according to Division 3;
- (c)
- the person's notional agreement pension rate is worked out by calculating
the rate that would be the person's social security payment rate if this
section did not apply to the person but taking into account section 14;
- (d)
- if the person's notional agreement pension rate is nil, the international
agreement portability rate is also nil;
- (e)
- if the person's notional agreement pension rate is not nil, the rate at
which family allowance would be payable to the person if the person were in
Australia (the notional family allowance rate ) is worked out by adding:
- (i)
- the standard family allowance rate; and
- (ii)
- the guardian allowance;
and subtracting the minimum standard family allowance rate;
- (f)
- the person's total notional rate is worked out by adding the person's
notional agreement pension rate and the person's notional family allowance
rate;
- (g)
- the person's international agreement portability rate is the result
obtained by multiplying the person's total notional rate by the person's
residence factor.
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