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Lump Sum

5.11.4 Payment of Lump Sum and when Interest Rates are Payable

If the client elects to receive a lump sum, the Commission has 30 days from the date it becomes aware of the client's choice in which to pay, otherwise interest is payable under subsection 79 (2) from the day the 30 day period elapses. The interest rate payable is the “weighted average yield of 90 day bank-accepted bills, as published by the Reserve Bank of Australia, settled immediately prior to the last day of the thirty day settlement period”. This rate is available from the Reserve Bank's website via the following link –