Scheme updates

Effective	Change
1 February 2007	Improvements to insurance Pension Scheme members who salary sacrifice into Triple S can apply for additional Death and TPD insurance through Triple S. More information
13 January 2005	Commutation option for invalid pensioners Invalid pensioners who are not yet 60 years of age can commute (or convert to a lump sum) up to 20% of their pension entitlement before they would usually have access to a lump sum. Regulations were also amended to clarify salary for superannuation purposes in relation to specific allowances and certain employment transfers. More Information
13 January 2005	Government Co-contribution payments Eligible Pension Scheme members are able to receive Government Co-contribution payments into a Triple S account through the Commonwealth Government's Co-contribution Scheme for low-income earners. More Information
18 November 2004	Change to Superannuation Salary for the first 12 months of an Untenured Executive contract This change provides for the calculation of superannuation salary for existing tenured executives who sign an untenured contract. More Information
19 August 2004	Effect of workers compensation on pensions The age until which a pension can be reduced by the amount of weekly payments of workers compensation has been extended from age 60 to 65.

Please note that these updates cover the period since 30 June 2004. Earlier updates are available in the relevant Annual Reports.

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