Section 1061V — Social Security Act 1991: When this Part applies

(1) This Part applies to a person if: (a) a pension supplement amount is used to work out the rate of the person’s social security payment (the main payment); and (b) the annual rate of that pension supplement amount is more than the person’s pension supplement basic amount. Note: A pension supplement amount that is more than the person’s pension supplement basic amount contains a minimum component. The person may elect under this Part to receive that minimum component on a quarterly basis as a separate social security payment. (2) For the purposes of paragraph (1)(b), if the Rate Calculator for the main payment produces a fortnightly rate, then multiply the person’s pension supplement amount by 26 to get the annual rate of that pension supplement amount. (3) For the purposes of subsection (1), it does not matter if the rate of the person’s main payment would become nil were an election by the person under subsection 1061VA(1) to come into force.