3.4.7 PBS - Qualification & Payability

Introduction

This section explains the qualification and payability provisions for the PBS.

Examples: Bonus periods are measured in days. The examples in this section use weeks however, to simplify the illustration of various calculations.

 

Act reference: SSAct Part 2.2A Pension bonus

Policy reference: SS Guide 1.2.3.70 Pension Bonus Scheme (PBS) & Pension Bonus Bereavement Payment (PBBP) - Description

 

In this section

This section contains the following topics:

3.4.7.10 Qualification for PBS

3.4.7.20 Registration for PBS

3.4.7.30 Bonus Periods for PBS

3.4.7.40 Accruing Membership of PBS

3.4.7.50 Non-accruing Membership of PBS

3.4.7.60 PBS Work Test

3.4.7.70 Gainful Work for PBS

3.4.7.80 Claiming the PBS Bonus

3.4.7.90 PBS - How to Determine a Part Year Bonus Period

3.4.7.100 Amount of PBS Bonus

3.4.7.110 Sample PBS Calculations

3.4.7.120 Top Ups to PBS

3.4.7.130 Sample PBS Top Up Calculations

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Last reviewed: 30 April 2012