Superannuation (PSS)

Maximum Benefits (2014-2015)

Determination 2014

I, STEPHEN PAUL WHITTON, Director, Manual Calculations, 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 30 May 2014

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S WHITTON

Delegate of Commonwealth Superannuation Corporation

1 Name of Determination

This Determination is the Superannuation (PSS) Maximum Benefits

(2014-2015) Determination 2014.

2 Commencement

This determination shall take effect from and including 1 July 2014.

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 2014, 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 $67,500.00

$675,000.00

$67,500.00 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 2014, 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 $67,500.00

$675,000.00

$67,500.00 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 2014, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table – AFP Preliminary Maximum Benefits – Pensions

Final Average Salary

Preliminary

Maximum Benefit

Less than $67,500.00

$945,000.00

$67,500.00 and over

14 times average salary