Victorian Numbered Acts Victorian Numbered ActsSee:
Act No.
9363.
Reprint No. 7
as at
10 September 2009
and amending
Act Nos
4/2009, 13/2010, 40/2010, 78/2010 and 29/2011.
LawToday:
www.
legislation.
vic.gov.au
(1) In section 39(1) of the State Employees Retirement Benefits Act 1979 , for "and (3)" substitute ", (2A) and (3)".
(2) For section 39(2) of the State Employees Retirement Benefits Act 1979 substitute —
"(2) Benefits payable to a member who retires after the age of 75 years are to be calculated as though the member had retired on their 75th birthday, but interest is payable on the lump sum from the date of their 75th birthday until the date of the member's retirement at a rate determined actuarially.
(2A) Benefits payable to a member who retires after the permitted contributions age are to be calculated as though the member had retired on the date they attained the permitted contributions age, but interest is payable on the lump sum from the date they attained the permitted contributions age until the date of the member's retirement at a rate determined actuarially.
(2B) In subsection (2A), "permitted contributions age" means the age up to which Commonwealth superannuation law permits contributions to be made on behalf of a member.".