New South Wales Repealed Regulations

This legislation has been repealed.

SUPERANNUATION REGULATION 2006 - REG 8

8 Commutation of pensions for reduction of benefits

(1) If a determination is made under this Division reducing a benefit that may be taken in the form of a pension, STC may, at its discretion and with the consent of the person to whom the pension is payable, commute part of the pension to a lump sum for the purposes of the payment to STC of the amount of the reduction.

(2) Commutation of part of the pension:

(a) does not affect any other right that the person has to commute the pension under the Act, and

(b) is not to be taken into account for the purpose of determining whether, and to what extent, any such other right may be exercised, and

(c) is to be done on a basis determined by STC.

(3) STC may obtain actuarial advice for the purpose of determining the basis on which part of a pension is to be commuted under this clause.