Last amended: 12 August 2014
Closure of registrations
Applications for registration as a member of the pension bonus scheme (PBS) could only be accepted if lodged before 1 July 2014.
Written application essential for registration for the scheme
Registration for the pension bonus scheme is compulsory in order to be able accrue bonus periods and claim a bonus. Applications must have been in writing and in accordance with DVA's Application for Registration as a Member of the Pension Bonus Scheme form.
Pension payability was not relevant when registering
At the time of registration, the designated pension did not have to be payable, and no assessment of pension payability was required. It was assumed that the person was registering prior to their retirement.
Note: This should not be confused with a person who would not have qualified for payment of a pension bonus, for example, a person who was within one year of the upper age limit by the date of their registration and could not accrue the minimum one full year bonus period. The person was still able to register as a member of the scheme up until 30 June 2014 to assist their partner with the work test.
Registration for PBS could be rejected
A person seeking to register for the scheme could have their application rejected if they:
- were not eligible for a designated pension,
- applied to register outside the registration time frames and the delegate elected not to allow late registration, or
- failed to provide relevant information or supporting evidence.
The decision to reject must have been advised in writing and was an appealable decision.
Time frame to register
If a person registered for the scheme in the period 13 weeks before reaching the person's special date of eligibility, and up to 13 weeks after that date, their registration automatically took effect from the date of eligibility for the designated pension.
Note: The term “test period” in this context is similar in meaning to bonus period. These periods are called test periods in cases where backdated registration is allowed and the bonus periods are being worked out retrospectively.
Passing the work test for each test period
The record keeping requirements are relaxed for the purpose of determining whether the person has passed the work test for each test period before registration. For example, group certificates may suffice as evidence of employment. However, usual record keeping requirements apply to the period following registration and if the late registration is backdated due to special circumstances, the person must provide evidence that they have passed the work test for each bonus period.
How to work out the test period
The test period is worked out as follows:
During the period that the person would have been an accruing member of the scheme:
- if that period is 365 days or less, the test period is the whole of that period,
- if that period is longer than 365 days, the test period is:
- the full year, starting from the date the person would have begun being an accruing member, and
- any subsequent full year period, and
- any remaining period.