Victorian Current Acts Victorian Current ActsS. 15(1) amended by Nos 8663 s. 6, 9117 s. 2(a), substituted by No. 110/1993 s. 103(1).
(1) In this section—
"FS", in relation to a person, means TS less PS;
"PS", in relation to a person, means the aggregate period, calculated in years and completed months as at 1 December 1993 or the date of ceasing to be a member, whichever is the earlier, of service as a member, or 20·5 years, whichever is the lesser;
"TS", in relation to a person, means the aggregate period, calculated in years and completed months as at the date of ceasing to be a member, of service as a member, or 20·5 years, whichever is the lesser.
S. 15(1A) inserted by No. 110/1993 s. 103(1), amended by Nos 120/1994 s. 32, 61/2013 s. 16(9).
(1A) If, when a person ceases to be a member—
(a) TS, in relation to that person is 15 years or more; or
S. 15(1A)(aa) inserted by No. 4/1996 s. 70.
(aa) TS, in relation to the person is 12 years or more and the person ceases to be a member as the result of a resignation or retirement which does not require or cause the holding of a by-election otherwise than on the day of a general election; or
(b) TS, in relation to the person is 8 years or more and the person ceases to be a member as a result of defeat at an election or as the result of resignation for, or of not seeking re‑election owing to, good and sufficient reasons which satisfy the trustees; or
(c) TS, in relation to the person is 6 years or more and the member has served in not less than 3 Parliaments, is of or over the age of 60 and ceases to be a member as a result of not seeking re-election at a general election—
the person is entitled to be paid out of the Scheme an annual pension at the
rate ascertained in accordance with the formula A 
R 
basic salary from time to time.
S. 15(1B) inserted by No. 110/1993 s. 103(1).
(1B) For the purposes of subsection (1A)—
"R" is—
(a) in the case of a person who became a member on or after 1 December 1993, B1/C1; and
(b) in the case of a person who became a member before that date, B1/C1 as at the date of ceasing to be a member or the value of B/C as at 1 December 1993, whichever is the greater provided that in no case shall the value of R be greater than the value of B/C at the date of the person's retirement—
and—
"B" is the total salary received by the person pursuant to Part I or any corresponding previous enactment;
"C" is the total basic salary in respect of the period of service of the person in the Parliament;
"B1" is the total salary the person would have received pursuant to Part I or any corresponding previous enactment if the person had received the salary at current rates;
"C1" is the total salary the person would have received pursuant to Part I or any corresponding previous enactment if the person had always been paid the basic salary current as at the date of ceasing to be a member.
S. 15(1C) inserted by No. 110/1993 s. 103(1).
(1C) For the purposes of subsection (1A), if TS is 8 or more years—
(a) if PS in relation to the person is 20·5 years, A is 0·75;
(b) if PS in relation to the person
is 8 or more but less than 20·5 years, A is 0·5 + (0·02 (PS-8)) + 0·017 FS;
(c) if PS in relation to the person
is less than 8 years, A is 0·0625 PS + (0·045 (8‑PS)) +
0·017 (TS-8).
S. 15(1D) inserted by No. 110/1993 s. 103(1).
(1D) For the purposes of subsection (1A), if TS is
less than 8 years, A is 0·5 PS/TS + 0·36 FS/TS.
S. 15(2) amended by No. 8047 s. 18(2).
(2) Subject to this Part a person who ceases to be a member as the result of defeat at an election or as the result of resignation or of not seeking re‑election and who is not entitled to a pension under this Part shall be entitled to have refunded to him—
(a) the amounts deducted under this Act or any corresponding previous enactment from salary paid to him; and
S. 15(2)(b) amended by No. 120/1994 s. 33(1).
(b) any amount actually paid by him to the Fund under section 19 as in force before the commencement of section 105 of the Public Sector Superannuation (Administration) Act 1993 —
less any amount previously refunded to him under this subsection or under any corresponding previous enactment.
S. 15(3) amended by Nos 8663 s. 9(c), 27/2001 s. 5(Sch. 3 item 3.5), 40/2010 s. 19.
(3) Subject to this Part where a member dies while serving as a member and that member is not survived by a partner or children or adult children the personal representative of that member shall be entitled to have refunded to him—
(a) the amounts deducted under this Act or any corresponding previous enactment from the salary paid to the member; and
S. 15(3)(b) amended by No. 120/1994 s. 33(1).
(b) any amount actually paid by the member to the Fund under section 19 as in force before the commencement of section 105 of the Public Sector Superannuation (Administration) Act 1993 —
less any amount previously refunded to the member under subsection (2) or under any corresponding previous enactment.
S. 15(3A) inserted by No. 9117 s. 2(b), amended by No. 110/1993 s. 103(2).
(3A) Where a person or a personal representative is entitled to a payment under subsection (2) or subsection (3) that person or personal representative shall be entitled in addition to the refund under the applicable subsection, to an amount equal to two and one-third times the amount that the person contributed before 1 December 1993 and is entitled to have refunded under subsection (2) or (3), together with an amount equal to one and two-thirds times the amount that the person contributed on or after that date and is so entitled to have refunded but if the person was entitled to a refund under subsection (2) by reason of ceasing to be a member otherwise than as the result of defeat at an election or as the result of resignation for or of not seeking re-election owing to good and sufficient reasons which satisfied the trustees, his additional entitlement under this subsection shall be one-half of the amount that he would have otherwise been entitled to.
S. 15(4) amended by Nos 8663 s. 9(d), 120/1994 s. 33(2), 27/2001 s. 5(Sch. 3 item 3.5).
(4) Where any refund of contributions or retiring allowance is or was made before 1 December 1993 under subsection (2) or any corresponding previous enactment to a member, and where that member or his partner becomes entitled to a pension under subsection (1) or under section 17 the payment of the pension or other benefit under this Act shall, unless the amount of that refund of contributions or retiring allowance is or has been paid into the Fund or into the Fund constituted under a corresponding previous enactment, be suspended until such time as the aggregate of the pension which would have been payable apart from this subsection would, if so paid, equal the amount of the refund of contributions or retiring allowance received by that member.