Superannuation Industry (Supervision) Regulations 1994

SCHEDULE 1AAB  

Subregulations 1.05(4) and 1.06(4)


PAYMENT LIMITS FOR ANNUITIES AND PENSIONS WITH A COMMENCEMENT DAY ON AND AFTER 1 JANUARY 2006

SECTION 1.  

1.    
Subject to clauses 3 , 4 and 5 , the maximum limits mentioned in paragraph 1.05(4)(f) or 1.06(4)(e) are determined under the formula:


    AB  
PVF		  

where:

AB means the amount of the annuity account balance, or pension account balance, as the case requires:


(a) on 1 July in the financial year in which the payments are made; or


(b) if that year is the year in which the annuity payments, or pension payments, commence - on the commencement day.

PVF means the maximum pension valuation factor set out in Column 3 of the Table in this Schedule in relation to the item in the Table that represents the age of the beneficiary on:


(a) 1 July in the financial year in which the payments are made; or


(b) if that is the year in which the annuity payments, or pension payments, commence - the commencement day.

 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.