South Australian Consolidated Regulations

SUPERANNUATION REGULATIONS 2001 - REG 20

20—Commutation factors

The following tables set out commutation factors:

            (a)         in the case of a pension payable to a contributor—

Age at time of commutation	Amount of lump sum for each dollar of annual pension commuted
less than 55	$11.50
55 – 56	$11.50 – $11.30
56 – 57	$11.30 – $11.10
57 – 58	$11.10 – $10.90
58 – 59	$10.90 – $10.70
59 – 60	$10.70 – $10.50
60 – 61	$10.50 – $10.30
61 – 62	$10.30 – $10.10
62 – 63	$10.10 – $9.90
63 – 64	$9.90 – $9.70
64 – 65	$9.70 – $9.50
65 – 66	$9.50 – $9.30
66 – 67	$9.30 – $9.10
67 – 68	$9.10 – $8.80
68 – 69	$8.80 – $8.50
69 – 70	$8.50 – $8.20
70 – 71	$8.20 – $7.90
71 – 72	$7.90 – $7.60
72 – 73	$7.60 – $7.30
73 – 74	$7.30 – $7.00
74 – 75	$7.00 – $6.70

            (b)         in the case of a spouse of a deceased contributor—

Age of spouse at time of commutation	Amount of lump sum for each dollar of annual pension commuted
less than 50	$11.50
50 – 55	$11.50 – $11.00
55 – 60	$11.00 – $9.75
60 – 65	$9.75 – $8.50
65 – 70	$8.50 – $7.25
70 – 80	$7.25 – $4.75
80 – 90	$4.75 – $2.25
90 – 100	$2.25 – $0.00

            (c)         in the case of—

                  (i)         a non-member spouse who elects under section 43AO(2)(b) of the Act to have his or her share of a superannuation interest commuted to a lump sum; or

                  (ii)         the legal representative of a deceased non-member spouse who elects under section 43AO(7) of the Act to have a pension that the non-member spouse was receiving, or was entitled to receive, commuted to a lump sum—

Age of member spouse at time of commutation	Amount of lump sum for each dollar of annual pension commuted
less than 55	$11.50
55–60	$11.50–$10.50
60–65	$10.50–$ 9.50
65–70	$ 9.50–$ 8.20
70–75	$ 8.20–$ 6.70
75–80	$ 6.70–$ 5.30
80–85	$ 5.30–$ 3.90
85–90	$ 3.90–$ 2.80
90–95	$ 2.80–$ 2.10
95–100	$ 2.10–$ 0.00

            (d)         in the case of an invalid pensioner who elects under regulation 19(1a) to commute up to 20 per cent of his or her pension to a lump sum prior to reaching the age of retirement—

Age at date of commutation	Amount of lump sum for each dollar of annual pension commuted
less than 50	$7.70
50 - 55	$7.70 - $7.30
55 - 60	$7.30 - $6.50