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Example 1
Effective date: 7 January 1993
Date of grant of service pension. Veteran commenced employment 7 January 1993, no earnings credit applies. Folios 17 & 90 refer.
|
Off rate |
7 January 1993 |
On rate |
7 January 1993 |
|||
|
Type |
Income p/f |
Asset |
Type |
Income p/f |
Asset |
|
|
FI |
$38.46 |
$10,000 |
FI |
$38.46 |
$10,000 |
|
|
Super |
$145.00 |
nil |
Super |
$145.00 |
nil |
|
|
Car |
nil |
$15,000 |
Car |
Nil |
$15,000 |
|
|
Home |
nil |
$10,000 |
Home |
Nil |
$10,000 |
|
|
Earnings |
nil |
nil |
Earnings |
$312.00 |
nil |
|
|
Total |
$183.46 |
$35,000 |
Total |
$495.46 |
$35,000 |
|
Effective date: 21 January 1993
Super increased with effect from 12 January 1993. Veteran advised with effect from 15 January 1993. Folios 31 & 34 refer.
|
Off rate |
21 January 1993 |
On rate |
21 January 1993 |
|||
|
Type |
Income p/f |
Asset |
Type |
Income p/f |
Asset |
|
|
FI |
$38.46 |
$10,000 |
FI |
$38.46 |
$10,000 |
|
|
Super |
$153.00 |
nil |
Super |
$153.00 |
nil |
|
|
Car |
nil |
$15,000 |
Car |
Nil |
$15,000 |
|
|
Home |
nil |
$10,000 |
Home |
Nil |
$10,000 |
|
|
Earnings |
nil |
nil |
Earnings |
$312.00 |
nil |
|
|
Total |
$191.46 |
$35,000 |
Total |
$503.46 |
$35,000 |
|
Effective date: 4 February 1993
Statutory increase
|
Off rate |
4 February 1993 |
On rate |
4 February 1993 |
|||
|
Type |
Income p/f |
Asset |
Type |
Income p/f |
Asset |
|
|
FI |
$38.46 |
$10,000 |
FI |
$38.46 |
$10,000 |
|
|
Super |
$153.00 |
nil |
Super |
$153.00 |
nil |
|
|
Car |
nil |
$15,000 |
Car |
Nil |
$15,000 |
|
|
Home |
nil |
$10,000 |
Home |
Nil |
$10,000 |
|
|
Earnings |
nil |
nil |
Earnings |
$312.00 |
nil |
|
|
Total |
$191.46 |
$35,000 |
Total |
$503.46 |
$35,000 |
|
Effective date: 18 February 1993
Interest rate reduced with effect from 15 February 1993. Veteran advised 16 February 1993. Folio 39 refers.
|
Off rate |
18 February 1993 |
On rate |
18 February 1993 |
|||
|
Type |
Income p/f |
Asset |
Type |
Income p/f |
Asset |
|
|
FI |
$37.50 |
$10,000 |
FI |
$37.50 |
$10,000 |
|
|
Super |
$153.00 |
nil |
Super |
$153.00 |
nil |
|
|
Car |
nil |
$15,000 |
Car |
Nil |
$15,000 |
|
|
Home |
nil |
$10,000 |
Home |
Nil |
$10,000 |
|
|
Earnings |
nil |
nil |
Earnings |
$312.00 |
nil |
|
|
Total |
$190.50 |
$35,000 |
Total |
$502.50 |
$35,000 |
|
Effective date: 29 April 1993
Income earnings increased with effect from 27 April 1993, folio 90 refers.
|
Off rate |
29 April 1993 |
On rate |
29 April 1993 |
|||
|
Type |
Income p/f |
Asset |
Type |
Income p/f |
Asset |
|
|
FI |
$37.50 |
$10,000 |
FI |
$37.50 |
$10,000 |
|
|
Super |
$153.00 |
nil |
Super |
$153.00 |
nil |
|
|
Car |
nil |
$15,000 |
Car |
Nil |
$15,000 |
|
|
Home |
nil |
$10,000 |
Home |
Nil |
$10,000 |
|
|
Earnings |
nil |
Nil |
Earnings |
$321.36 |
nil |
|
|
Total |
$190.50 |
$35,000 |
Total |
$511.86 |
$35,000 |
|
Effective date: 27 May 1993
Veteran ceased employment on 19 May 1993.
|
Off rate |
27 May 1993 |
On rate |
27 May 1993 |
|||
|
Type |
Income p/f |
Asset |
Type |
Income p/f |
Asset |
|
|
FI |
$37.50 |
$10,000 |
FI |
$37.50 |
$10,000 |
|
|
Super |
$153.00 |
Nil |
Super |
$153.00 |
nil |
|
|
Car |
nil |
$15,000 |
Car |
Nil |
$15,000 |
|
|
Home |
nil |
$10,000 |
Home |
Nil |
$10,000 |
|
|
Earnings |
nil |
Nil |
Earnings |
Nil |
nil |
|
|
Total |
$190.50 |
$35,000 |
Total |
$190.50 |
$35,000 |
|
The details highlighted in bold in these examples will be transposed on to the What if screen on the PIPS system to gain the off (if off rates not gained from VIEW Payment History) and on rates.
Note:Once the details have been entered on to the What if screen, and the printouts gained, then the rates given by the What if screen can be transposed on to the PIPS arrears screen.
Note:If the overpayment has more than 50 lines, including the last date of effect then the calculation will not fit on the arrears screen.