Victorian Current Acts Victorian Current Acts (1) The amount of any weekly payment payable
to a
worker under this Part must be reduced
by the weekly amount of any retirement
or superannuation pension received by the worker that relates to the worker's
retirement from, or the cessation or termination of, the employment out of, or
in the course of which, or due to the nature of which, the injury arose.
(2) If a worker—
(a) receives a superannuation or retirement benefit lump sum that—
(i) relates to the worker's retirement from, or cessation or termination of, the employment out of, or in the course of which, the injury arose; and
(ii) has not been deposited with a complying superannuation fund or a complying approved deposit fund; or
(b) withdraws or redeems any part of, or withdraws or redeems any interest, or part of any interest on, such a superannuation or retirement benefit lump sum that has been deposited with a complying superannuation fund or a complying approved deposit fund—
the worker is not entitled to weekly payments under this Part during the specified period after the date on which he or she received the lump sum or made the withdrawal or redemption, as the case requires, or became eligible to receive weekly payments, whichever is the later.
(3) The specified period for the purposes of subsection (2) is the number of weeks determined by dividing the amount received, withdrawn or redeemed by the worker's pre-injury average weekly earnings as varied in accordance with Division 1 of Part 13.
(4) If a worker withdraws or redeems any part of the amount deposited or used under subsection (2) which represents the worker's own contributions for the purpose of an approved capital expenditure within the meaning of subsection (5), subsection (2) does not apply in respect of that withdrawal or redemption.
(5) For the purposes of subsection (4), approved capital expenditure means capital expenditure approved by the Authority or by a self-insurer in accordance with guidelines made by the Authority.
(6) The Authority must ensure that guidelines made under subsection (5) are published and generally available.
(7) The amount of compensation in the form of weekly payments payable to a worker under this Part must be reduced by the amount (if any) by which the sum of—
(a) the weekly payment that would be payable but for this subsection; and
(b) the weekly rate of any disability pension received by or for the benefit of the worker and which relates to an injury in respect of which compensation in the form of weekly payments is payable to the worker; and
(c) the worker's current weekly earnings—
exceeds the supplemental pension limit.
(8) In this section—
"disability pension", in relation to a worker, means an amount payable under an insurance policy or by a trustee acting as a trustee that—
(a) relates to an injury in respect of which compensation in the form of weekly payments is payable under this Part; and
(b) is payable in the form of periodic payments to or for the benefit of the worker—
but does not include a retirement or superannuation pension;
"supplemental pension limit", in relation to a worker, means the worker's pre-injury average weekly earnings in respect of the relevant period as calculated under section 153 as indexed in accordance with Division 1 of Part 13 and calculated as if the enhancement period within the meaning of section 157 had not expired.