Victorian Current Acts Victorian Current Acts(1) Subject to subsection (2), the amount of any compensation in the form of weekly payments of pension payable under section 241 to a deceased worker's dependants must be varied—
(a) on 1 July 2014 in respect of the financial year commencing on that date; and
(b) on 1 July in each subsequent year in respect of the financial year commencing on that date—
by varying the amount of the worker's pre-injury average weekly earnings for the purposes of the calculation of the amount of the weekly pension in accordance with the formula—
where—
A is the amount of the worker's pre-injury average weekly earnings within the meaning of section 153 or, if that amount has been varied in accordance with this section, that amount as last so varied;
B is the average weekly total earnings of all employees in Victoria in original terms for the most recent reference period in the preceding calendar year published by the Australian Bureau of Statistics as at 15 June immediately preceding the date on which the variation is made;
C is the average weekly total earnings of all employees in Victoria in original terms for the corresponding reference period in the calendar year preceding the calendar year referred to in B published by the Australian Bureau of Statistics as at 15 June immediately preceding the date on which the variation is made.
(2) If a worker's death resulted from or was
materially contributed to by an injury arising out of or in the course of
employment and the deceased worker died more than one year after the date of
the injury, the amount of any compensation in the form of weekly payments of
pension payable to the dependants of the deceased worker under section 241
must be varied on the anniversary date of the injury in respect of the year
beginning on that date by varying the amount of the deceased worker's
pre-injury average weekly earnings for the purposes of the calculation of the
amount of the weekly pension in accordance with the formula—
where—
D is the amount of the worker's pre-injury average weekly earnings within the meaning of section 153 or, if that amount has been varied in accordance with this section, that amount as last so varied;
E is the average weekly total earnings of all employees in Victoria in original terms for the most recent reference period published by the Australian Bureau of Statistics as at the 15th day of the month preceding the month in which the date on which the variation is made falls;
F is the average weekly total earnings of all employees for Victoria in original terms for the corresponding reference period one year earlier than the reference period referred to in E published by the Australian Bureau of Statistics as at the 15th day of the same month referred to in E.