Military Superannuation and Benefits (Delayed Payment of Benefits) Determination 2009 (Cth)

Military Superannuation and Benefits (Delayed Payment of Benefits) Determination 2009

The MILITARY SUPERANNUATION AND BENEFITS BOARD OF TRUSTEES NO. 1 makes this Determination under paragraph 3 (1) (c) and rule 69 of the Trust Deed made under Part 2 of the Military Superannuation and Benefits Act 1991.

Dated 28th October 2009

Mr Gabriel Szondy Mr Felix Bleeser Acting Chairperson Trustee

Major Kirk Lloyd WOFF Robert Swanwick Alternate Trustee MAICD Trustee

1 Name of Determination This Determination is the Military Superannuation and Benefits (Delayed Payment of Benefits) Determination 2009.

2 Commencement This Determination commences on the day after it is registered on the Federal Register of Legislative Instruments.

3 Revocation The Military Superannuation and Benefits (Delayed Payment of Benefits) Determination 2004 and each determination that amends that determination are revoked.

4 Interpretation (1) In this Determination:

Act means the Military Superannuation and Benefits Act 1991.

Board means the Military Superannuation and Benefits Board of Trustees No. 1 established by section 18 of the Act.

period of delay is the period determined by the Board under rule 69 of the Rules where payment of a benefit is delayed.

Rules means the Military Superannuation and Benefits Rules set out in the Schedule to the Trust Deed made under Part 2 of the Act.

(2) Words and expressions used in this Determination that are defined in the Act or the Rules have the same meaning in this Determination as in the Act or the Rules.

5 Calculation of interest ‑ rule 69(4)(a) (1) Where, pursuant to rule 69(1) of the Rules, a benefit is payable as a lump sum and the Board approves an increase, by an amount of interest, in the amount of the benefit payable to the person, interest will be calculated in accordance with this clause.