Age 55 and over
|
Year |
Lump sum |
Pension |
AWOTE index |
|
2006-07 |
$678,149 |
$1,356,291 |
1.045 |
|
2005-06 |
$648,946 |
$1,297,886 |
1.048 |
|
2004-05 |
$619,223 |
$1,238,440 |
1.053 |
|
2003-04 |
$588,056 |
$1,176,106 |
1.046 |
|
2002-03 |
$562,195 |
$1,124,384 |
1.062 |
|
2001-02 |
$529,373 |
$1,058,742 |
1.046 |
|
2000-01 |
$506,092 |
$1,012,181 |
1.042 |
|
1999-00 |
$485,692 |
$971,382 |
1.031 |
|
1998-99 |
$471,088 |
$942,175 |
1.036 |
|
1997-98 |
$454,718 |
$909,435 |
1.046 |
|
1996-97 |
$434,720 |
$869,440 |
1.040 |
|
1995-96 |
$418,000 |
$836,000 |
1.045 |
|
1994-95 |
$400,000 |
$800,000 |
|
The lump sum amounts above apply if the benefit is taken as cash, in specie or an allocated pension.
The pension amounts above apply if at least 50% of the benefits are taken as a complying pension.
Before age 55
If benefits are paid before age 55, the RBL is reduced by 2.5% for each whole year the person is under that age, beginning at the birthday immediately before the benefits are paid.
AWOTE indexation factors
The indexation factors in the table above can be used to index up to the current financial year for:
> transitional RBL’s, and
> a benefit received in a previous financial year.
For previously received benefits, index as follows:
|
AWOTE index number for 2nd last quarter (1) |
|
AWOTE index number for payment quarter (2) |
(1) Two quarters before the benefit was paid.
(2) The quarter in which the benefit was paid.
Indexation does not apply for periods less than 12 months.