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Accident Compensation Act 2001

Entitlements and related matters - Indexation of weekly compensation and related amounts

115: Indexation of weekly compensation and related amounts

You could also call this:

"Adjusting weekly payments to match changes in average wages"

The Corporation needs to adjust some amounts of money. These include weekly compensation payments, except for those based on minimum weekly earnings. The Corporation also needs to adjust the weekly amounts mentioned in clauses 46 and 51 of Schedule 1.

When the Corporation makes these adjustments, they must follow a special formula. This formula is based on changes in average weekly earnings. The adjustments will start on specific dates that have been decided in advance. The Corporation will tell you and everyone else about these adjustments in a way they think is best.

Sometimes, the Corporation doesn't have to make adjustments. This happens when the formula says there needs to be a minimum change in average weekly earnings, but the actual change is smaller than that minimum.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM101478.

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Part 4Entitlements and related matters
Indexation of weekly compensation and related amounts

115Indexation of weekly compensation and related amounts

  1. The Corporation must adjust the following amounts in the manner specified in subsection (2):

  2. the amount of weekly compensation, but not weekly compensation based on minimum weekly earnings as determined under clause 42(3) of Schedule 1:
    1. the weekly amounts specified in clauses 46 and 51 of Schedule 1.

      1. Any adjustments required by subsection (1)—

      2. must be in accordance with a prescribed formula or prescribed formulas relating to movements in average weekly earnings; and
        1. have effect from the prescribed date or dates; and
          1. must be published by the Corporation in such manner as it thinks appropriate to bring the adjustments to the attention of claimants and the general public.

            1. The Corporation is not required to adjust any amount under subsection (1) if—

            2. the prescribed formula specifies a minimum movement in the average weekly earnings; and
              1. the movement in the average weekly earnings is less than the minimum movement specified.