Commonwealth Consolidated Acts

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SOCIAL SECURITY ACT 1991 - SECT 92T

Accrual of bonus periods

Full-year bonus period

             (1)  The first bonus period that accrues to a person is the full-year period of the person's accruing membership of the pension bonus scheme:

                     (a)  that began on whichever of the following dates is applicable:

                              (i)  if the person was an accruing member of the pension bonus scheme on the date the person's registration as a member took effect--the date the registration took effect;

                             (ii)  in any other case--the date on which the person first became an accruing member of the pension bonus scheme; and

                     (b)  for which the person passes the work test.

Note:          Accruing membership is defined by section 92N.

             (2)  Each succeeding full-year period of the person's accruing membership of the pension bonus scheme:

                     (a)  that is specified in the person's claim for pension bonus; and

                     (b)  for which the person passes the work test;

is a bonus period that accrues to the person.

Part-year bonus period

             (3)  A part-year period of the person's accruing membership of the pension bonus scheme is a bonus period that accrues to the person if:

                     (a)  the person passes the work test for that period; and

                     (b)  the person specifies the period in the person's claim for pension bonus; and

                     (c)  the period begins immediately after the end of a full-year bonus period that accrues to the person; and

                     (d)  the period is the last bonus period that accrues to the person.

Note:          Accruing membership is defined by section 92N.

Bonus periods must be consecutive

             (4)  A person cannot accrue more than one bonus period unless:

                     (a)  the bonus periods are consecutive; or

                     (b)  the bonus periods are separated only by a period of non-accruing membership.



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