Judges’ Pensions Order 2013 (Cth)

Judges' Pensions Order 2013 I, Penelope Ying Yen Wong, Minister for Finance and Deregulation, make the following order under the Judges' Pensions Act 1968.

Dated: 12 March 2013

Penelope Ying Yen Wong Minister for Finance and Deregulation

Contents Part 1—Preliminary 1 Name of order 2 Commencement 3 Authority 4 Definitions Part 2—Scheme value and pension rates 5 Scheme value—member spouse with no surcharge debt 6 Scheme value—member spouse with surcharge debt 7 Associate immediate pension for non‑member spouse 8 Associate deferred pension 9 Associate deferred pension—death of non‑member spouse 10 Operative time during growth phase—reduction of associate deferred pension 11 Operative time during payment phase—reduction of standard pension Schedule 1—Methods and factors Part 1—Methods Division 1.1—Interpretation 1 Definitions Division 1.2—Interests in the growth phase 2 Methods and factors for interests of members in the scheme Division 1.3—Interests in the payment phase 3 Methods and factors for interests of members in the scheme Division 1.4—Factors Part 2—Factors

Part 1—Preliminary

1 Name of order This order is the Judges' Pensions Order 2013.

2 Commencement This order commences on 15 March 2013.

3 Authority This order is made under the Judges' Pensions Act 1968.

4 Definitions In this order: Act means the Judges' Pensions Act 1968. Federal Court Judge's salary means the annual salary of a Judge of the Federal Court of Australia, other than the Chief Justice. Table 1 means Table 1 of Part 2 of Schedule 1. Table 2 means Table 2 of Part 2 of Schedule 1. Table 3 means Table 3 of Part 2 of Schedule 1. Treasury bond rate means: (a) if any Treasury bonds with a 10 year term were issued on the last working day of the financial year ending immediately before the period for which the increase is being calculated—the annual yield on those bonds; or (b) in any other case—the annual yield on Treasury bonds with a 10 year term, as published by the Reserve Bank of Australia for that day. Note: For the definitions of the following terms, see subsection 4(1) of the Act: (a) associate deferred pension; (b) associate immediate pension; (c) member spouse; (d) operative time; (e) original interest; (f) retirement pension; (g) standard pension; (h) transfer amount.