Superannuation (PSS) Maximum Benefits (2016-2017) Determination 2016 (Cth)

Superannuation (PSS) Maximum Benefits (2016-2017) Determination 2016

I, STEPHEN PAUL WHITTON, Director, APS Technical Team, Position No. 44, and Delegate of Commonwealth Superannuation Corporation, pursuant to rules 5.6.5 and 5.7.7 of the PSS Rules, in the Schedule to the Deed in force under section 4 of the Superannuation Act 1990, DETERMINE as follows:

Dated 1 June 2016

S WHITTON Delegate of Commonwealth Superannuation Corporation

1 Name of Determination

This Determination is the Superannuation (PSS) Maximum Benefits (2016-2017) Determination 2016.

2 Commencement

This determination takes effect on 1 July 2016.

3 Maximum Benefits – Lump Sums

For rule 5.6.5 of the PSS Rules, the table in rule 5.6.1 has effect, for the financial year starting on 1 July 2016, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table – Maximum Benefits

Average Salary Maximum Benefit

Less than $70,500.00 $705,000.00

$70,500.00 and over 10 times average salary

4 Maximum Benefits – AFP Lump Sums

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.1 has effect, for the financial year starting on 1 July 2016, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table – AFP Preliminary Maximum Benefits – Lump Sums Average Salary Preliminary Maximum Benefit

Less than $70,500.00 $705,000.00

$70,500.00 and over 10 times average salary

5 Maximum Benefits – AFP Pensions

For rule 5.7.7 of the PSS Rules, the table in rule 5.7.2 has effect, for the financial year starting on 1 July 2016, as if the amounts specified in the following table were substituted for the amounts specified in that table: