Western Australian Current Regulations Western Australian Current Regulations (1) Subject to this
regulation, on each pension day the Board is to pay to a Retirement Income
Member an amount equal to the annual amount selected by or for the Member
under regulation 190 divided by —
(a) if
the Member has selected monthly pension payments, 12; or
(b) if
the Member has selected quarterly pension payments, 4; or
(c) if
the Member has selected annual pension payments, 1.
(2) If, on a pension
day, the balance of a Member’s Retirement Income Account is less than
the amount to be paid under subregulation (1), the amount to be paid is
reduced to an amount equal to that balance.
(3) If, in any
financial year, a Retirement Income Member’s pension total is less than
the Commonwealth minimum, the Board is to pay to the Member, before the end of
the year, an amount equal to the difference between the pension total and the
Commonwealth minimum.
(4) If payment to a
Retirement Income Member of the amount to be paid under subregulation (1)
on a pension day would result in the Member’s pension total for a
financial year exceeding the Commonwealth maximum, the amount to be paid on
that day is reduced by the amount by which that maximum would otherwise be
exceeded.
(5) If, in any
financial year, a Retirement Income Member’s pension total reaches the
Commonwealth maximum the Board is to make no further payments under
subsection (1) to the Member during that year.
[Regulation 191 inserted: Gazette
19 Mar 2003 p. 830-1; amended: Gazette 13 Jun 2003
p. 2113.]