State Superannuation (Greater Lump Sums) Regulations 1999

i State Superannuation (Greater Lump Sums) Regulations 1999 S.R. No. 12/1999 TABLE OF PROVISIONS Regulation Page 1. Purpose 1 2. Authorising provision 1 3. Commencement 1 4. Revocation 2 5. Pension which may be converted to lump sum 2 ═══════════════ NOTES 3 -- 1 of 4 -- 1 STATUTORY RULES 1999 S.R. No. 12/1999 State Superannuation Act 1988 State Superannuation (Greater Lump Sums) Regulations 1999 The Governor in Council, after consideration of a report from the Victorian Superannuation Board, makes the following Regulations: Dated: 16 February 1999 Responsible Minister: ROGER M. HALLAM Minister for Finance MATTHEW GROVES Acting Clerk of the Executive Council 1. Purpose The purpose of these Regulations is to prescribe a greater amount of pension which certain revised scheme members or former revised scheme members may convert to an equivalent entitlement by way of lump sum payment under section 39(3) of the State Superannuation Act 1988. 2. Authorising provision These Regulations are made under section 92 of the State Superannuation Act 1988. 3. Commencement These Regulations come into operation on 19 February 1999. -- 2 of 4 -- S.R. No. 12/1999 State Superannuation (Greater Lump Sums) Regulations 1999 2 4. Revocation The State Superannuation (Greater Lump Sums) Regulations 1989 1 are revoked. 5. Pension which may be converted to lump sum For the purposes of section 39(3) of the State Superannuation Act 1988 an amount of 100 per cent of the fortnightly pension entitlement is prescribed in relation to a former revised scheme member who— (a) is a prescribed firefighter; and (b) has elected to transfer from the revised scheme to the new scheme under section 61(1) of the State Superannuation Act 1988. ═══════════════ r. 4 -- 3 of 4 -- S.R. No. 12/1999 State Superannuation (Greater Lump Sums) Regulations 1999 3 NOTES 1 Reg. 4: S.R. No. 26/1989 as amended by S.R. Nos 235/1989, 40/1991, 50/1992 and 221/1993. -- 4 of 4 --