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Social Services and Other Legislation Amendment (Supporting Retirement Incomes) Bill 2018

2016-2017-2018-2019

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Social Services and Other Legislation Amendment (Supporting Retirement Incomes) Bill 2019

 

No.      , 2019

 

 

 

 

 

A Bill for an Act to amend the law relating to social security and veterans’ entitlements, and for related purposes

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—Lifetime income streams                                                                        3

Social Security Act 1991                                                                                             3

Veterans’ Entitlements Act 1986                                                                             19

Schedule 2—Work bonus                                                                                                 36

Social Security Act 1991                                                                                           36

Veterans’ Entitlements Act 1986                                                                             42

Schedule 3—Pension loans scheme                                                                             49

Part 1—Main amendments                                                                                        49

Social Security Act 1991                                                                                           49

Veterans’ Entitlements Act 1986                                                                             59

Part 2—Contingent amendments                                                                           69

Social Security Act 1991                                                                                           69

Schedule 4—Other amendments                                                                                  70

Social Security Act 1991                                                                                           70

 

 



A Bill for an Act to amend the law relating to social security and veterans’ entitlements, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act is the Social Services and Other Legislation Amendment (Supporting Retirement Incomes) Act 2019 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedules 1 and 2

1 July 2019.

1 July 2019

3.  Schedule 3, Part 1

1 July 2019.

1 July 2019

4.  Schedule 3, Part 2

Immediately after the commencement of Schedule 4 to the Social Services Legislation Amendment (Welfare Reform) Act 2018 .

20 March 2020

5.  Schedule 4

The day after this Act receives the Royal Assent.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.