Family Law (Superannuation) Regulations 2001
Statutory Rules 2001 No. 3031
I, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Family Law Act 1975.
Dated 8 October 2001
PETER HOLLINGWORTH
Governor-General
By His Excellency's Command
DARYL WILLIAMS
Attorney-General

Contents
Page
Part 1	Preliminary
	1	Name of Regulations	8
	2	Commencement	8
	3	Definitions	8
	4	Other expressions used in Part VIIIB of the Act	12
	5	Meaning of defined benefit interest	12
	6	Meaning of growth phase — superannuation interests in regulated superannuation funds, approved deposit funds and RSAs	13
	7	Meaning of growth phase — superannuation interests in other eligible superannuation plans	14
	8	Meaning of payment phase	16
	9	Meaning of partially vested accumulation interest	16
	10	Meaning of trustee (Act s 90MD)	16
	11	Meaning of unsplittable interest (Act s 90MD)	17
Part 2	Payments that are not splittable payments
	12	Payments to member spouse that are not splittable payments (Act s 90ME)	18
	13	Payments after death of member spouse that are not splittable payments (Act s 90ME)	20
	14	Payments that are not splittable payments in respect of particular payments splits (Act s 90ME)	21
Part 3	Payment splitting or flagging by agreement
Division 3.1	Superannuation interest that is not a percentage‑only interest
	15	Application of Division 3.1 (Act s 90MJ)	25
	16	Entitlement of non-member spouse — superannuation interest not in existence or in growth phase	25
	17	Entitlement of non-member spouse — superannuation interest in payment phase	26
Division 3.2	Superannuation interest that is a percentage‑only interest
	18	Application of Division 3.2 (Act s 90MJ)	27
	19	Entitlement of non-member spouse	27
Division 3.3	Miscellaneous
	20	Superannuation interests in excess of ETP threshold — total withdrawal value (Act s 90MQ)	28
Part 4	Payment splitting or flagging by court order
Division 4.1	Superannuation interest that is not a percentage‑only interest
	21	Application of Division 4.1 (Act s 90MT)	29
	22	Determination of value of certain superannuation interests	29
	23	Entitlement of non-member spouse — interests other than small superannuation accounts interests	30
	24	Determination of value of small superannuation accounts interests	30
Division 4.2	Superannuation interest that is a percentage‑only interest
	25	Application of Division 4.2 (Act s 90MT)	31
	26	Entitlement of non-member spouse	31
Part 5	Determination of value of certain superannuation interests
Division 5.1	Superannuation interest in growth phase at relevant date
	27	Application of Division 5.1 (Act s 90MT)	32
	28	Method for determining value — general	32
	29	Method for determining gross value — defined benefit interest	33
	30	Approval of retirement age	33
	31	Method for determining gross value — accumulation interest (other than a partially vested accumulation interest)	34
	32	Method for determining gross value — partially vested accumulation interest	36
	33	Method for determining gross value — combination of defined benefit interest and accumulation interest	37
	34	Method for determining gross value — combination of defined benefit interest and partially vested accumulation interest	37
	35	Method for determining gross value — interest that is the greater of a defined benefit interest and an accumulation interest	37
	36	Method for determining gross value — interest that is the lesser of a defined benefit interest and an accumulation interest	38
	37	Method for determining gross value — defined benefit less other amount	38
	38	Approval of methods and factors for valuing particular superannuation interests	39
Division 5.2	Superannuation interest in payment phase at relevant date
	39	Application of Division 5.2 (Act s 90MT)	40
	40	Method for determining value — general	40
	41	Method for determining gross value — benefits payable only as one or more lump sums	40
	42	Method for determining gross value — benefits paid as pension	41
	43	Method for determining gross value — benefits paid as pension and lump sum also payable	41
Part 6	Entitlement of non-member spouse in respect of certain superannuation interests
Division 6.1	Interpretation
	44	Definitions for Part 6	43
	45	Meaning of base amount allocated to the non‑member spouse	44
Division 6.2	Superannuation interest in growth phase at date of service of agreement or date of order
	46	Application of Division 6.2 (Act s 90MJ, s 90MT)	45
	47	Adjustment of base amount	46
	48	Interest rates for adjustment of base amount	46
	49	Amount to be paid to non-member spouse — benefit payable only as lump sum that is equal to or more than adjusted base amount	48
	50	Amount to be paid to non-member spouse — benefit payable only as lump sum that is less than adjusted base amount	48
	51	Amount to be paid to non-member spouse — optional lump sum from remaining benefits	49
	52	Amount to be paid to non-member spouse — optional lump sum — payment of whole of adjusted base amount	53
	53	Amount to be paid to non-member spouse — optional lump sum — payment of part of adjusted base amount	55
	54	Amount to be paid to non-member spouse — no benefit payable only as lump sum	57
Division 6.3	Superannuation interest in payment phase at date of service of agreement or date of order
	55	Application of Division 6.3 (Act s 90MJ, s 90MT)	58
	56	Amount to be paid to non-member spouse — first splittable payment after operative time equal to or more than base amount	59
	57	Amount to be paid to non-member spouse — first splittable payment after operative time less than base amount	59
	58	Amount to be paid to non-member spouse — optional lump sum from remaining benefits	60
Part 7	General provisions about payment splitting
Division 7.1	General
	59	Fees payable to trustee (Act s 90MY)	65
	60	Waiver notice (Act s 90MZA)	65
Division 7.2	Provision of information to and by trustee
	61	Definitions for Division 7.2	66
	62	Application to trustee for information — accompanying declaration (Act s 90MZB)	67
	63	Information about certain accumulation interests (Act s 90MZB)	67
	64	Information about certain defined benefit interests (Act s 90MZB)	70
	65	Information about certain defined benefit interests — meaning of accrued benefit multiple	73
	66	Information about certain percentage-only interests (Act s 90MZB)	76
	67	Information about interests in self managed superannuation funds (Act s 90MZB)	78
	68	Information about small superannuation accounts interests (Act s 90MZB)	79
	69	Secondary government trustee not required to provide information (Act s 90MZB)	79
	70	Information to be provided by trustee following service of agreement or order (Act s 90MZB)	79
	71	Information to be provided by trustee at end of financial year	81
	72	Notice to trustee by non-member spouse	81
Schedule 1	Forms	83
Form 1	Notice to trustee that non-member spouse’s entitlement satisfied in respect of particular payment split		83
Form 2	Request to trustee by non-member spouse for payment, as lump sum, of all or part of remaining adjusted base amount	85
Form 3	Request to trustee by non-member spouse for payment, as lump sum, of all or part of adjusted base amount	86
Form 4	Request to trustee by non-member spouse for payment, as lump sum, of all or part of remaining base amount	87
Form 5	Waiver notice in respect of payment split	88
Form 6	Declaration to accompany application to trustee for information about a superannuation interest	89
Schedule 2	Method for determining gross value of defined benefit interest	90
Part 1	Preliminary	90
Part 2	Method — benefit payable only as lump sum	90
Part 3	Method — benefit payable only as pension	93
Part 4	Method — benefit payable as combination of lump sum and pension	126
Schedule 3	Method for determining gross value of partially vested accumulation interest	129
Schedule 4	Method for determining gross value of superannuation interest payable as life pension	134
Schedule 5	Method for determining gross value of superannuation interest payable as fixed-term pension	156
Schedule 6	Method for determining gross value of superannuation interest payable as pension and future lump sum	160

Part 1	Preliminary
  
1	Name of Regulations
		These Regulations are the Family Law (Superannuation) Regulations 2001.
2	Commencement
		These Regulations commence on the commencement of the Family Law Legislation Amendment (Superannuation) Act 2001.
3	Definitions
		In these Regulations, unless the contrary intention appears:
accumulation fund means an eligible superannuation plan that is not a defined benefit fund.
accumulation interest means a superannuation interest that is not a defined benefit interest or a small superannuation accounts interest.
Act means the Family Law Act 1975.
adjusted base amount, in relation to a non-member spouse at a particular date, means the base amount allocated to the non‑member spouse, adjusted at that date in accordance with regulation 47.
allocated pension means a pension paid, within a range of minimum and maximum payments, from an identifiable lump sum.
approved deposit fund has the meaning given by section 90MD of the Act.
constitutionally protected fund has the meaning given by subsection 267 (1) of the Income Tax Assessment Act 1936.
defined benefit fund has the meaning given by subregulation 1.03 (1) of the SIS Regulations.
defined benefit interest has the meaning given by regulation 5.
eligible superannuation plan has the meaning given by section 90MD of the Act.
exempt public sector superannuation scheme has the same meaning as in the SIS Act.
flag lifting agreement has the meaning given by section 90MD of the Act.
growth phase, in relation to a superannuation interest (other than a small superannuation accounts interest) of a member spouse, has the meaning given by regulation 6 or 7.
interest has the meaning given by section 90MD of the Act.
Judges’ Pensions Act Scheme means the scheme constituted by the Judges’ Pensions Act 1968 for the provision of retirement and other benefits to and in respect of Judges, within the meaning of that Act.
member has the meaning given by section 90MD of the Act.
member information statement, in relation to a member of an eligible superannuation plan, means a statement issued periodically to the member by the trustee of the plan that sets out information about the value of the member’s interest in the plan (for example, the member’s account balance, share in the plan or withdrawal benefit) at a particular date.
member spouse has the meaning given by section 90MD of the Act.
member’s retirement age, for a member who has a defined benefit interest in an eligible superannuation plan, means:
	(a)	subject to paragraphs (b) and (c), the latest retirement age for the member specified in the governing rules of the plan; or
	(b)	if the latest retirement age for the member specified in the governing rules of the plan is more than 65 years, or no retirement age is specified in the governing rules of the plan — 65 years; or
	(c)	if the Minister has, under regulation 30, approved a retirement age as the retirement age for members of the plan, or an identifiable class of members of the plan that includes the member — the approved age.
Note   Regulation 30 authorises the Minister to approve as the retirement age for members, or an identifiable class of members, who hold a defined benefit interest in an eligible superannuation plan, an age other than:
(a)	the retirement age specified in the governing rules of the plan; or
(b)	the age of 65 years.
non-member spouse has the meaning given by section 90MD of the Act.
operative time has the meaning given by section 90MD of the Act.
partially vested accumulation interest has the meaning given by regulation 9.
payment flag has the meaning given by section 90MD of the Act.
payment phase, in relation to a superannuation interest (other than a small superannuation accounts interest) of a member spouse, has the meaning given by regulation 8.
payment split has the meaning given by section 90MD of the Act.
pension means a pension, within the meaning of section 10 of the SIS Act, payable from an eligible superannuation plan (other than an account within the meaning of the Small Superannuation Accounts Act 1995).
percentage-only interest means a superannuation interest in the Judges’ Pensions Act Scheme.
regulated superannuation fund has the meaning given by section 90MD of the Act.
relevant date, for the purpose of determining the value of a superannuation interest that is subject to a payment split, means:
	(a)	in relation to a payment split under a superannuation agreement or flag lifting agreement:
	(i)	the date agreed on for that purpose by the parties to the agreement; or
	(ii)	if no date is agreed on by the parties to the agreement:
	(A)	the date when the agreement is signed; or
	(B)	in the case of an unsigned agreement, the date when a copy of the agreement is served on the trustee; and
	(b)	in relation to a payment split under a splitting order — the date determined by the court.
RSA has the meaning given by section 90MD of the Act.
RSA Regulations means the Retirement Savings Accounts Regulations 1997.
secondary government trustee has the meaning given by section 90MD of the Act.
self managed superannuation fund has the same meaning as in the SIS Act.
SIS Act has the meaning given by section 90MD of the Act.
SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994.
small superannuation accounts interest means a superannuation interest in an account within the meaning of the Small Superannuation Accounts Act 1995.
splittable payment has the meaning given by section 90MD of the Act.
splitting order has the meaning given by section 90MD of the Act.
superannuation agreement has the meaning given by section 90MD of the Act.
superannuation contributions surcharge means superannuation contributions surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997.
superannuation fund has the same meaning as in the SIS Act.
superannuation interest has the meaning given by section 90MD of the Act.
trustee has the meaning given by section 90MD of the Act.
unit trust has the same meaning as in the SIS Act.
withdrawal benefit:
	(a)	for a member of a regulated superannuation fund or an approved deposit fund, has the meaning given by subregulation 1.03 (1) of the SIS Regulations; and
	(b)	for a member of an RSA, has the meaning given by subregulation 1.03 (1) of the RSA Regulations; and
	(c)	for a member who has a small superannuation accounts interest, means the balance of the member’s account; and
	(d)	for a member of any other eligible superannuation plan, means the total amount of benefits that would be payable to the member if the member voluntarily ceased to be a member of the plan.
4	Other expressions used in Part VIIIB of the Act
		Unless the contrary intention appears, any word or expression (other than a word or expression defined in regulation 3) that is used in these Regulations and in Part VIIIB of the Act has the same meaning in these Regulations as it has in Part VIIIB of the Act.
5	Meaning of defined benefit interest
	(1)	Subject to subregulation (2), for these Regulations, a defined benefit interest is a superannuation interest, or a component of a superannuation interest, that a member spouse has in an eligible superannuation plan, being an interest in respect of which the member spouse is entitled, when benefits in respect of the interest become payable, to be paid a benefit that is, or may be, defined by reference to one or more of the following:
	(a)	the amount of:
	(i)	the member spouse’s salary at the date of the termination of the member spouse’s employment, the date of the member spouse’s retirement, or another date; or
	(ii)	the member spouse’s salary averaged over a period;
	(b)	a specified amount;
	(c)	specified conversion factors.
	(2)	A superannuation interest, or a component of a superannuation interest, is not a defined benefit interest for these Regulations if the only benefits payable in respect of the interest that are defined by reference to the amounts or factors mentioned in subregulation (1) are benefits payable on death or invalidity.
6	Meaning of growth phase — superannuation interests in regulated superannuation funds, approved deposit funds and RSAs
	(1)	This regulation applies to a superannuation interest of a member spouse in any of the following eligible superannuation plans:
	(a)	a regulated superannuation fund;
	(b)	an approved deposit fund;
	(c)	an RSA.
	(2)	For these Regulations, the superannuation interest is taken to be in the growth phase at a particular date if the member spouse satisfies the requirements of subregulation (3), (4) or (5) at that date.
	(3)	A member spouse satisfies the requirements of this subregulation at a particular date if the member spouse has not satisfied a relevant condition of release at that date.
	(4)	A member spouse satisfies the requirements of this subregulation at a particular date if the member spouse has satisfied a relevant condition of release at that date, but no benefit has been paid in respect of the superannuation interest, and no action has been taken by or for the member spouse under the governing rules of the plan to cash any benefit that the member spouse is entitled to be paid as a result of satisfying the condition of release.
	(5)	A member spouse satisfies the requirements of this subregulation at a particular date if:
	(a)	the member spouse has satisfied a relevant condition of release at that date; and
	(b)	a benefit (other than a benefit that is paid as a pension) has been paid to or for the benefit of the member spouse or, if the member spouse has died, to his or legal personal representative, but no action has been taken by or for the member spouse, or his or her legal personal representative, under the governing rules of the plan to receive any other benefit that the member spouse, or his or her estate, is entitled to be paid as a result of satisfying the condition of release.
	(6)	In this regulation:
relevant condition of release means:
	(a)	for a member spouse who has a superannuation interest in a regulated superannuation fund — a condition of release mentioned in item 101, 102, 103, 106 or 108 of Schedule 1 to the SIS Regulations; and
	(b)	for a member spouse who has a superannuation interest in an approved deposit fund — a condition of release mentioned in item 201, 202, 203 or 206 of Schedule 1 to the SIS Regulations; and
	(c)	for a member spouse who has a superannuation interest in an RSA — a condition of release mentioned in item 101, 102, 103, 106 or 107 of Schedule 2 to the RSA Regulations.
7	Meaning of growth phase — superannuation interests in other eligible superannuation plans
	(1)	This regulation applies to a superannuation interest of a member spouse in:
	(a)	an exempt public sector superannuation scheme; or
	(b)	a superannuation fund within the meaning of the SIS Act that is not a regulated superannuation fund.
	(2)	For these Regulations, the superannuation interest is taken to be in the growth phase at a particular date if, at that date:
	(a)	a releasing event in relation to the member spouse has not occurred; or
	(b)	a releasing event in relation to the member spouse has occurred, but no action has been taken by or for the member spouse under the governing rules of the plan to receive any benefit that the member spouse is entitled to be paid as a result of the occurrence of the releasing event; or
	(c)	a releasing event in relation to the member spouse has occurred and a benefit (other than a benefit that is paid as a pension) has been paid to or for the benefit of the member spouse or, if the member spouse has died, to his or legal personal representative, but no action has been taken by or for the member spouse, or his or her legal personal representative, under the governing rules of the plan to receive any other benefit that the member spouse, or his or her estate, is entitled to be paid as a result of the occurrence of the releasing event.
	(3)	For this regulation, a releasing event is taken to have occurred in relation to a member spouse if:
	(a)	in the case of a member spouse other than a member spouse to whom paragraph (b) applies:
	(i)	the member spouse has retired; or
	(ii)	the member spouse has died; or
	(iii)	as a result of the member spouse’s ill health (whether physical or mental), the member spouse has ceased to be gainfully employed (including if the member spouse has ceased temporarily to receive any gain or reward under a continuing arrangement for the member spouse to be gainfully employed); and
	(b)	in the case of a member spouse whose employer had contributed to the member spouse’s eligible superannuation plan in relation to the member spouse:
	(i)	the member spouse has ceased his or her employment with the employer; or
	(ii)	any of the events mentioned in subparagraph (a) (i) to (iii) has occurred in relation to the member spouse.
	(4)	In paragraph (3) (b):
employer includes any associates, within the meaning of section 12 of the SIS Act, of the employer.
8	Meaning of payment phase
		For these Regulations, a superannuation interest (other than a small superannuation accounts interest) of a member spouse in an eligible superannuation plan is taken to be in the payment phase at a particular date if the superannuation interest is not in the growth phase at that date.
9	Meaning of partially vested accumulation interest
		For these Regulations, an accumulation interest that a member spouse has as a member of an eligible superannuation plan is a partially vested accumulation interest if the withdrawal benefit in relation to the member spouse at a particular date is less than the total amount notionally or actually allocated to the member spouse at that date, except if the withdrawal benefit is less than that notional or actual amount because of any of the following reasons:
	(a)	the trustee of the plan has been assessed to be liable to pay superannuation contributions surcharge in respect of the member spouse, and the trustee has not debited the amount notionally or actually allocated to the member spouse in respect of that liability;
	(b)	insurance costs have been charged against the member spouse’s benefits in the plan;
	(c)	any other fees, taxes or charges will be charged against the member spouse’s benefits when the member spouse ceases to be a member of the plan.
10	Meaning of trustee (Act s 90MD)
	(1)	This regulation applies for paragraph (b) of the definition of trustee in section 90MD of the Act.
	(2)	Each of the following persons is identified as a trustee of the Judges’ Pensions Act Scheme:
	(a)	in relation to a member of the Scheme who is a Presidential Member of the Australian Industrial Relations Commission — the Industrial Registrar; 
	(b)	in relation to any other member of the Scheme — the Secretary of the Attorney-General’s Department.
	(3)	The Parliamentary Retiring Allowances Trust established under the Parliamentary Contributory Superannuation Act 1948 is identified as the trustee of the scheme constituted by that Act.
	(4)	An RSA provider that has accepted contributions to an RSA is identified as the trustee of that RSA.
	(5)	The Commissioner of Taxation is identified as the trustee of an account within the meaning of the Small Superannuation Accounts Act 1995.
	(6)	In this regulation:
Industrial Registrar means the Industrial Registrar of the Australian Industrial Relations Commission appointed under section 67 of the Workplace Relations Act 1996.
Presidential Member has the meaning given by section 4 of the Workplace Relations Act 1996.
RSA provider has the same meaning as in the Retirement Savings Accounts Act 1997.
11	Meaning of unsplittable interest (Act s 90MD)
		For the definition of unsplittable interest in section 90MD of the Act, a superannuation interest of a member spouse with a withdrawal benefit in relation to the member spouse of less than $5 000 is prescribed.

Part 2	Payments that are not splittable payments
  
12	Payments to member spouse that are not splittable payments (Act s 90ME)
	(1)	For subsection 90ME (2) of the Act, each of the following payments in respect of a superannuation interest of a member spouse is not a splittable payment:
	(a)	a payment to the member spouse that is made on compassionate grounds under subregulation 6.19A (1) of the SIS Regulations;
	(b)	a payment to the member spouse that is made because the member spouse is taken to be in severe financial hardship;
	(c)	a payment to the member spouse that is made because, as a result of the member spouse’s ill health (whether physical or mental), the member spouse has ceased to be gainfully employed (including if the member spouse has ceased temporarily to receive any gain or reward under a continuing arrangement for the member spouse to be gainfully employed), if the benefits payable to the member spouse on his or her retirement are reduced as a result of the payment, unless:
	(i)	the payment:
	(A)	is one of a series of payments of that kind that have been made to the member spouse for a period of at least 2 years; and
	(B)	is made more than 2 years after the first payment of that kind was made to the member spouse; or
	(ii)	the payment is made on the ground that the member spouse is totally and permanently incapacitated;
	(d)	a payment to the member spouse that is made because, as a result of the member spouse’s ill health (whether physical or mental), the member spouse has ceased to be gainfully employed (including if the member spouse has ceased temporarily to receive any gain or reward under a continuing arrangement for the member spouse to be gainfully employed), if:
	(i)	the benefits payable to the member spouse on his or her retirement are not reduced as a result of the payment; and
	(ii)	at the date of the payment, the member spouse has not reached the age that is the member’s retirement age for the member spouse;
	(e)	if the superannuation interest is in the superannuation scheme constituted by the Superannuation Act 1976 or the Superannuation Act 1990 — a payment to the member spouse that is made:
	(i)	during any period in which the member spouse’s health is being assessed for the purpose of determining the member spouse’s eligibility for payment on the ground that the member spouse is totally and permanently incapacitated; or
	(ii)	because the member spouse’s salary or other remuneration, or hours of employment, have been reduced because of ill health;
	(f)	if the superannuation interest is in an account within the meaning of the Small Superannuation Accounts Act 1995 — a payment to the member spouse from the account, if:
	(i)	in accordance with a superannuation agreement, flag lifting agreement or splitting order that has been served on the trustee of the account, the trustee has opened a separate account under the Small Superannuation Accounts Act 1995 for the non‑member spouse, and has transferred an amount from the member spouse’s account to that separate account; and
	(ii)	but for the operation of this paragraph, the non‑member spouse would have been entitled to be paid an amount in respect of the payment.
	(2)	In this regulation:
gainfully employed means employed or self-employed for gain or reward in any business, trade, profession, vocation, calling, occupation or other employment.
member’s retirement age, for a member of an eligible superannuation plan, means:
	(a)	subject to paragraph (b), the latest retirement age for the member specified in the governing rules of the plan; or
	(b)	if the latest retirement age for the member specified in the governing rules of the plan is more than 65 years, or no retirement age is specified in the governing rules of the plan — 65 years.
severe financial hardship has the meaning given by subregulation 6.01 (5) of the SIS Regulations.
13	Payments after death of member spouse that are not splittable payments (Act s 90ME)
	(1)	For subsection 90ME (2) of the Act, each of the following payments made after the death of a member spouse in respect of a superannuation interest of the member spouse is not a splittable payment:
	(a)	a payment to a reversionary beneficiary who is a child in relation to the member spouse if, at the date of the payment, the child has not turned 18;
	(b)	a payment to a reversionary beneficiary who is a child in relation to the member spouse if:
	(i)	at the date of the payment, the child has turned 18; and
	(ii)	the payment is made to enable the child to complete his or her education or, if the child has special needs because of a physical or intellectual disability, to provide maintenance and expenses in respect of those needs;
	(c)	a payment to a reversionary beneficiary for the benefit of a child in relation to the member spouse, if the requirements of paragraph (a) or (b) are satisfied in relation to the child and the payment.
	(2)	In this regulation:
child, in relation to a member spouse who has a superannuation interest in an eligible superannuation plan, means:
	(a)	a child of the member spouse, within the meaning of section 60F of the Act; or
	(b)	a child of the member spouse under the governing rules of the plan; or
	(c)	a child who has been determined by the trustee of the plan, under the governing rules of the plan, to be a child of the member spouse; or
	(d)	a child for whom the member spouse had, at the time of his or her death, responsibility for the day‑to-day care, welfare and development under an order made under Part VII of the Act or Part 5 of the Family Court Act 1997 of Western Australia, or under a corresponding law of a foreign country.
14	Payments that are not splittable payments in respect of particular payments splits (Act s 90ME)
	(1)	For subsection 90ME (2) of the Act, a payment in respect of a superannuation interest of a member spouse in an eligible superannuation plan is not a splittable payment in respect of a particular payment split if the requirements of subregulation (2), (3) or (4) are satisfied in relation to the payment and the payment split.
	(2)	The requirements of this subregulation are satisfied in relation to a payment in respect of a superannuation interest of a member spouse in an eligible superannuation plan and a particular payment split (the spent payment split) in respect of that interest if the payment is made after the trustee of the plan has done any of the following things in respect of the spent payment split:
	(a)	under the payment split provisions of the SIS Regulations:
	(i)	created a new interest in the plan for the non‑member spouse; or
	(ii)	transferred or rolled over an amount equal to the value of the benefit that the non-member spouse would be required to have if a new interest had been created for the non‑member spouse under the payment split provisions of the SIS Regulations;
	(b)	under the governing rules of the plan:
	(i)	created an interest in the plan for the non‑member spouse with a value of at least the value of the benefit that the non-member spouse would be required to have if a new interest had been created for the non‑member spouse under the payment split provisions of the SIS Regulations; or
	(ii)	transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non-member spouse, with a value of at least the value of the benefit that the non-member spouse would be required to have if a new interest had been created for the non-member spouse under the payment split provisions of the SIS Regulations.
	(3)	The requirements of this subregulation are satisfied in relation to a payment in respect of a superannuation interest of a member spouse in an eligible superannuation plan and a particular payment split (the spent payment split) in respect of that interest if:
	(a)	the interest is in a regulated superannuation fund, an approved deposit fund or an RSA; and
	(b)	the payment is made after either of the following things has happened in respect of the spent payment split:
	(i)	the non-member spouse has satisfied a relevant condition of release in relation to the superannuation interest, and the member spouse has paid to the non‑member spouse an amount in satisfaction of the non-member spouse’s entitlement in respect of the spent payment split;
	(ii)	the non-member spouse has not satisfied a relevant condition of release in relation to the superannuation interest, and the member spouse has paid to a regulated superannuation fund or an RSA, an amount, to be held for the benefit of the non‑member spouse, in satisfaction of the non‑member spouse’s entitlement in respect of the spent payment split; and
	(c)	after the payment by the member spouse mentioned in subparagraph (b) (i) or (ii), a notice in accordance with Form 1 in Schedule 1, signed by the member spouse and non-member spouse in respect of the superannuation interest, has been served on the trustee of the plan.
	(4)	The requirements of this subregulation are satisfied in relation to a payment in respect of a superannuation interest of a member spouse in an eligible superannuation plan and a particular payment split (the spent payment split) in respect of that interest if:
	(a)	the interest is in an exempt public sector superannuation scheme or the superannuation scheme constituted by the Superannuation Act 1922; and
	(b)	the payment is made after the member spouse has paid to the non-member spouse an amount in satisfaction of the non-member spouse’s entitlement in respect of the spent payment split; and
	(c)	after the payment by the member spouse mentioned in paragraph (b), a notice in accordance with Form 1 in Schedule 1, signed by the member spouse and non‑member spouse in respect of the superannuation interest, has been served on the trustee of the plan.
	(5)	In this regulation:
payment split provisions of the SIS Regulations means the provisions of the SIS Regulations dealing with superannuation interests that are subject to a payment split.
relevant condition of release, for a non-member spouse in relation to a superannuation interest, means:
	(a)	if the superannuation interest is in a regulated superannuation fund — a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 1 to the SIS Regulations; and
	(b)	if the superannuation interest is in an approved deposit fund — a condition of release mentioned in item 201, 202, 203 or 206 of Schedule 1 to the SIS Regulations; and
	(c)	if the superannuation interest is in an RSA — a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 2 to the RSA Regulations.
Note   A payment in respect of a superannuation interest of a member spouse of the kind mentioned in this regulation may nevertheless be a splittable payment in relation to any later payment split that applies in respect of the superannuation interest — see subsection 90ME (2) of the Act.

Part 3	Payment splitting or flagging by agreement
Division 3.1	Superannuation interest that is not a percentage-only interest
15	Application of Division 3.1 (Act s 90MJ)
		This Division applies to a payment split under a superannuation agreement or flag lifting agreement in relation to a superannuation interest of a member spouse if:
	(a)	the interest is not a percentage-only interest; and
	(b)	the agreement specifies:
	(i)	an amount as a base amount in relation to the interest for the purposes of Part VIIIB of the Act; or
	(ii)	a method by which a base amount can be calculated at the time when the agreement is served on the trustee under section 90MI of the Act.
16	Entitlement of non-member spouse — superannuation interest not in existence or in growth phase
	(1)	This regulation applies if the superannuation interest:
	(a)	is not a small superannuation accounts interest; and
	(b)	is not in existence at the date of the agreement, or is in the growth phase at the date of the agreement and is not in the payment phase at the date when the agreement is served on the trustee under section 90MI of the Act.
	(2)	The amount (if any) that the non-member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is the amount calculated in accordance with Division 6.2.
17	Entitlement of non-member spouse — superannuation interest in payment phase
	(1)	This regulation applies if the superannuation interest:
	(a)	is not a small superannuation accounts interest; and
	(b)	is in the payment phase at the date of the agreement or the date when the agreement is served on the trustee under section 90MI of the Act.
	(2)	The agreement may state that the base amount is:
	(a)	a total amount that relates to the whole of the superannuation interest; or
	(b)	an amount that relates to ongoing pension payments.
	(3)	Unless the agreement states that the base amount relates to ongoing pension payments, the base amount is taken to be a total amount that relates to the whole of the superannuation interest.
	(4)	If the agreement states that the base amount is a total amount that relates to the whole of the superannuation interest, or the base amount is taken to be a total amount that relates to the whole of the superannuation interest, the amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is the amount calculated in accordance with Division 6.3.
	(5)	If the agreement states that the base amount is an amount that relates to ongoing pension payments, the amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is the base amount.
Division 3.2	Superannuation interest that is a percentage-only interest
18	Application of Division 3.2 (Act s 90MJ)
		This Division applies to a payment split under a superannuation agreement or flag lifting agreement in relation to a superannuation interest of a member spouse if:
	(a)	the interest is a percentage-only interest; and
	(b)	the agreement specifies a percentage that is to apply for the purposes of subparagraph 90MJ (1) (b) (i) of the Act.
19	Entitlement of non-member spouse
		The amount that the non-member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is:

where:
Accrued benefit multiple at separation is the member spouse’s accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the member spouse and non‑member spouse separated or, if there have been 2 or more separations, at the date of the most recent separation.
Accrued benefit multiple at payment is the member spouse’s accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the splittable payment becomes payable in respect of the superannuation interest.
X is the percentage specified in the agreement.
SP is the amount of the splittable payment.
Division 3.3	Miscellaneous
20	Superannuation interests in excess of ETP threshold — total withdrawal value (Act s 90MQ)
		For subsection 90MQ (3) of the Act, the total withdrawal value for all the superannuation interests of a member spouse at a particular time is the amount determined by adding together the withdrawal benefits for each superannuation interest the member spouse has in any eligible superannuation plan at that time.

Part 4	Payment splitting or flagging by court order
Division 4.1	Superannuation interest that is not a percentage-only interest
21	Application of Division 4.1 (Act s 90MT)
		This Division applies to a payment split under a splitting order in relation to a superannuation interest of a member spouse that is not a percentage-only interest.
22	Determination of value of certain superannuation interests
	(1)	Subject to subregulation (2), the court must determine the value of the superannuation interest at the relevant date:
	(a)	if the interest is in the growth phase at the relevant date — in accordance with Division 5.1; and
	(b)	if the interest is in the payment phase at the relevant date — in accordance with Division 5.2.
	(2)	Subregulation (1) does not apply if the superannuation interest is:
	(a)	a small superannuation accounts interest; or
	(b)	an interest in a self managed superannuation fund; or
	(c)	an interest in a regulated superannuation fund in relation to which the trustee of the fund has, under Division 2.5 of the SIS Regulations, given information to each member of the fund that the fund is to be reconstructed or terminated.
Note 1   The value of a small superannuation accounts interest is to be determined by the Court under regulation 24.
Note 2   The value of a superannuation interest of the kind mentioned in paragraph (2) (b) or (c) is to be determined by the Court by such method as it considers appropriate — see paragraph 90MT (2) (b) of the Act.
23	Entitlement of non-member spouse — interests other than small superannuation accounts interests
	(1)	This regulation applies if:
	(a)	the splitting order is made under paragraph 90MT (1) (a) of the Act; and
	(b)	the superannuation interest in respect of which the order is made is not a small superannuation accounts interest.
	(2)	The amount that the non-member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is:
	(a)	if the interest is in the growth phase at the date of the splitting order — the amount calculated in accordance with Division 6.2; and
	(b)	if the interest is in the payment phase at the date of the splitting order — the amount calculated in accordance with Division 6.3.
24	Determination of value of small superannuation accounts interests
	(1)	This regulation applies if the superannuation interest is a small superannuation accounts interest.
	(2)	The Court must determine the value of the superannuation interest at the relevant date to be the account balance that the Commissioner of Taxation would be required to transfer to a specified RSA, or to the trustee of a complying fund, for the benefit of the member spouse, if the Commissioner had received a transfer request from the member spouse under section 61 of the Small Superannuation Accounts Act 1995.
	(3)	In this regulation:
complying fund means a fund that passes the compliance test in subsection 61 (2) of the Small Superannuation Accounts Act 1995.
Division 4.2	Superannuation interest that is a percentage-only interest
25	Application of Division 4.2 (Act s 90MT)
		This Division applies to a payment split under a splitting order in relation to a superannuation interest of a member spouse that is a percentage-only interest.
26	Entitlement of non-member spouse
		The amount that the non-member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is:

where:
Accrued benefit multiple at separation is the member spouse’s accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the member spouse and non‑member spouse separated or, if there have been 2 or more separations, at the date of the most recent separation.
Accrued benefit multiple at payment is the member spouse’s accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the splittable payment becomes payable in respect of the superannuation interest.
X is the percentage specified in the splitting order.
SP is the amount of the splittable payment.

Part 5	Determination of value of certain superannuation interests
Division 5.1	Superannuation interest in growth phase at relevant date
27	Application of Division 5.1 (Act s 90MT)
		For paragraph 90MT (2) (a) of the Act and paragraph 22 (1) (a) of these Regulations, this Division sets out the method for determining the value of a superannuation interest of a member spouse at the relevant date if the interest:
	(a)	is not a percentage-only interest; and
	(b)	is in the growth phase at the relevant date.
Note   This Division does not apply to a superannuation interest of a kind mentioned in subregulation 22 (2).
28	Method for determining value — general
	(1)	The method for determining the value of the superannuation interest at the relevant date is as follows:

Step 1	Determine the gross value of the superannuation interest at the relevant date.	
Step 2	Deduct from the amount determined under Step 1 any amount payable under a payment split that applies to a splittable payment in respect of the superannuation interest and has an operative time that is before the relevant date.	
Step 3	Deduct from the amount determined under Step 2:
(a)	if the superannuation interest is in a superannuation fund that is not a constitutionally protected fund — the amount (if any) of any surcharge debt of the member spouse as stated in the most recent member information statement provided by the fund to the member spouse before the relevant date; or
(b)	if the superannuation interest is in a superannuation fund that is a constitutionally protected fund — the amount (if any) stated in the surcharge debt account maintained for the member spouse by the Commissioner of Taxation at the relevant date.	
The resulting amount is the value of the superannuation interest at the relevant date.	
	(2)	For Step 1 of the table in subregulation (1), the gross value of the superannuation interest at the relevant date is the gross value of the interest as determined in accordance with the regulation in this Division that applies to the interest.
29	Method for determining gross value — defined benefit interest
		If the whole of the superannuation interest is a defined benefit interest, the gross value at the relevant date of the interest is to be determined using:
	(a)	if, under regulation 38, the Minister has approved a method or factors to be used to determine the value of the interest — the approved method or factors; or
	(b)	in any other case — the method of valuation set out in Schedule 2.
30	Approval of retirement age
	(1)	For the purpose of determining the value of a defined benefit interest in accordance with the method of valuation set out in Schedule 2, the Minister may approve, in writing, as the retirement age for all members of the eligible superannuation plan in which the interest is held, or an identifiable class of members of the plan, an age other than:
	(a)	the retirement age specified in the governing rules of the plan; or
	(b)	the age of 65 years.
	(2)	An approval by the Minister under subregulation (1) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.
31	Method for determining gross value — accumulation interest (other than a partially vested accumulation interest)
	(1)	If the whole of the superannuation interest is an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined in accordance with this regulation.
	(2)	If a member information statement that states the value of the interest at the relevant date has been provided to the member spouse, the gross value of the interest at the relevant date is the value stated in the statement.
	(3)	If subregulation (2) does not apply, the gross value of the interest at the relevant date is:

where:
V1 is the sum of:
	(a)	the value of the interest at the first valuation date; and
	(b)	the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan) in the period between the first valuation date and the relevant date (excluding both those dates), less the value of any partial payment of benefits to the member made in that period.
V2 is the sum of:
	(a)	the value of the interest at the second valuation date; and
	(b)	the value of any partial payment of benefits made to the member in the period between the relevant date and the second valuation date (excluding both those dates), less the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan), and any interest earned on those benefits, in that period.
X is the number of days in the period between the first valuation date and the relevant date (excluding both those dates).
D is the number of days in the period beginning on the first valuation date and ending at the end of the day before the second valuation date.
	(4)	For the purpose of determining the gross value of a member spouse’s interest at the relevant date under subregulation (3), the first valuation date and the second valuation date, in relation to the interest, are as follows:
	(a)	if at least one member information statement in relation to the interest has been provided to the member spouse, and the relevant date is after the valuation date stated in the most recent statement:
	(i)	the first valuation date is the valuation date stated in the most recent statement; and
	(ii)	the second valuation date is the date when the valuation of the interest is being carried out;
	(b)	if 2 or more member information statements in relation to the interest have been provided to the member spouse, and the relevant date is between the valuation date stated in one statement (the earlier statement) and the valuation date stated in the next statement (the next statement):
	(i)	the first valuation date is the valuation date stated in the earlier statement; and
	(ii)	the second valuation date is the valuation date stated in the next statement;
	(c)	if at least one member information statement in relation to the interest has been provided to the member spouse, and the relevant date is before the valuation date stated in the first statement (the first statement):
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the second valuation date is the valuation date stated in the first statement;
	(d)	if no member information statement in relation to the interest has been provided to the member spouse:
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the second valuation date is the date when the valuation of the interest is being carried out.
	(5)	In this regulation:
valuation date, in relation to a superannuation interest to which a member information statement applies, means the date as at which the value of the interest is stated in the statement.
32	Method for determining gross value — partially vested accumulation interest
		If the whole of the superannuation interest is a partially vested accumulation interest, the gross value at the relevant date of the interest is to be determined using:
	(a)	if, under regulation 38, the Minister has approved a method or factors to be used to determine the value of the interest — the approved method or factors; or
	(b)	in any other case — the method of valuation set out in Schedule 3.
33	Method for determining gross value — combination of defined benefit interest and accumulation interest
		If the superannuation interest is made up of a component that is a defined benefit interest and a component that is an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined by adding:
	(a)	the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and
	(b)	the gross value at the relevant date of the accumulation interest, determined in accordance with the method set out in regulation 31.
34	Method for determining gross value — combination of defined benefit interest and partially vested accumulation interest
		If the superannuation interest is made up of a component that is a defined benefit interest and a component that is a partially vested accumulation interest, the gross value at the relevant date of the interest is to be determined by adding:
	(a)	the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and
	(b)	the gross value at the relevant date of the partially vested accumulation interest, determined in accordance with the method set out in regulation 32.
35	Method for determining gross value — interest that is the greater of a defined benefit interest and an accumulation interest
		If the superannuation interest is the greater of a defined benefit interest and an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined to be the greater of:
	(a)	the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and
	(b)	the gross value at the relevant date of the accumulation interest, determined in accordance with the method set out in regulation 31.
36	Method for determining gross value — interest that is the lesser of a defined benefit interest and an accumulation interest
		If the superannuation interest is the lesser of a defined benefit interest and an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined to be the lesser of:
	(a)	the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and
	(b)	the gross value at the relevant date of the accumulation interest, determined in accordance with the method set out in regulation 31.
37	Method for determining gross value — defined benefit less other amount
	(1)	If the superannuation interest is a defined benefit interest the benefit in respect of which is, under the governing rules of the eligible superannuation plan in which the interest is held, the amount of a defined benefit less any other amount (other than an amount of superannuation contributions surcharge that the trustee is liable to pay in respect of the interest), the gross value at the relevant date of the interest is to be determined as the difference between:
	(a)	the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and
	(b)	the value at the relevant date of the other amount.
	(2)	For the purpose of determining the value at the relevant date of the other amount under paragraph (1) (b), if the other amount is in respect of a superannuation interest in respect of which a method of valuation is provided in this Division, the value at the relevant date of the other amount is to be determined in accordance with that method of valuation.
38	Approval of methods and factors for valuing particular superannuation interests
	(1)	The Minister may approve, in writing, for the purposes of this regulation, methods or factors that are to be used to determine the gross value of any of the following superannuation interests:
	(a)	a defined benefit interest;
	(b)	a partially vested accumulation interest.
	(2)	A method or factors approved by the Minister under subregulation (1) may relate to any of the following:
	(a)	the valuation of a superannuation interest in a particular eligible superannuation plan;
	(b)	the valuation of a superannuation interest in a particular category of superannuation interests in a particular eligible superannuation plan;
	(c)	the valuation, in particular circumstances, of a superannuation interest, or a superannuation interest in a particular category of superannuation interests, in a particular eligible superannuation plan;
	(d)	the valuation, in particular circumstances, of a particular component of a superannuation interest in a particular eligible superannuation plan.
	(3)	An approval by the Minister under subregulation (1) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.
Note   If the Minister approves a method or factors to be used to determine the value of a defined benefit interest, or a partially vested accumulation interest, in an eligible superannuation plan, the approved method or factors are to be used to determine the value of the interest instead of the method of valuation set out in Schedule 2 or 3 to these Regulations — see regulations 29 and 32.
Division 5.2	Superannuation interest in payment phase at relevant date
39	Application of Division 5.2 (Act s 90MT)
		For paragraph 90MT (2) (a) of the Act and paragraph 22 (1) (b) of these Regulations, this Division sets out the method for determining the value of a superannuation interest of a member spouse at the relevant date if the interest:
	(a)	is not a percentage-only interest; and
	(b)	is in the payment phase at the relevant date.
Note   This Division does not apply to a superannuation interest of a kind mentioned in subregulation 22 (2).
40	Method for determining value — general
	(1)	The method for determining the value of the superannuation interest at the relevant date is as follows:

Step 1	Determine the gross value of the superannuation interest at the relevant date.	
Step 2	Deduct from the amount determined under Step 1 any amount payable under a payment split that applies to a splittable payment in respect of the superannuation interest and has an operative time that is before the relevant date.	
The resulting amount is the value of the superannuation interest at the relevant date.	
	(2)	For Step 1 of the table in subregulation (1), the gross value of the superannuation interest at the relevant date is the gross value of the interest as determined in accordance with the regulation in this Division that applies to the interest.
41	Method for determining gross value — benefits payable only as one or more lump sums
		If the whole, or the remaining part, of the benefits in respect of the superannuation interest is payable only as one or more lump sums, the gross value at the relevant date of the interest is to be the withdrawal benefit in relation to the member spouse at that date.
42	Method for determining gross value — benefits paid as pension
	(1)	This regulation applies to the superannuation interest if the benefits in respect of the interest are being paid as a pension at the relevant date.
	(2)	If the pension is payable for the life of the member spouse, the gross value of the superannuation interest at the relevant date is to be determined using the method of valuation set out in Schedule 4.
	(3)	If the pension is payable for a fixed term only, the gross value of the superannuation interest at the relevant date is to be determined using the method of valuation set out in Schedule 5.
	(4)	If the pension is an allocated pension, the gross value of the superannuation interest at the relevant date is to be the withdrawal benefit in relation to the member spouse at that date.
43	Method for determining gross value — benefits paid as pension and lump sum also payable
	(1)	This regulation applies to the superannuation interest if:
	(a)	part of the benefits in respect of the interest is being paid as a pension at the relevant date; and
	(b)	the remaining part of the benefits is payable as a lump sum (whether at the relevant date or at any time after that date) that is not a commutation of the pension.
	(2)	If the lump sum is payable at the relevant date, the gross value of the superannuation interest at the relevant date is to be determined by adding:
	(a)	the gross value of the pension, determined using the relevant method of valuation set out in subregulation 42 (2), (3) or (4); and
	(b)	the amount of the lump sum.
	(3)	If the lump sum is payable at any time after the relevant date, the gross value of the superannuation interest at the relevant date is to be determined using the method of valuation set out in Schedule 6.

Part 6	Entitlement of non-member spouse in respect of certain superannuation interests
Division 6.1	Interpretation
44	Definitions for Part 6
		In this Part:
accrual period, for a superannuation interest that is subject to a payment split, means:
	(a)	if the superannuation interest is in a regulated superannuation fund that has a year of income, within the meaning of subsection 10 (1) of the SIS Act:
	(i)	the period beginning at the relevant operative time in a year of income and ending at the end of that year of income; and
	(ii)	after that period, a year of income; and
	(b)	in any other case:
	(i)	the period beginning at the relevant operative time in a financial year and ending at the end of 30 June in that financial year; and
	(ii)	after that period, a financial year.
gainful employment means employment or self‑employment for gain or reward in any business, trade, profession, vocation, calling, occupation or other employment.
lump sum means any amount (other than an amount of a pension payment) that is paid to a member in respect of a superannuation interest.
Examples
1   A transfer of money.
2   A rollover of benefits under the SIS Act.
relevant condition of release means:
	(a)	for a member spouse who has a superannuation interest in a regulated superannuation fund — a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 1 to the SIS Regulations; and
	(b)	for a member spouse who has a superannuation interest in an approved deposit fund — a condition of release mentioned in item 201, 202, 203 or 206 of Schedule 1 to the SIS Regulations; and
	(c)	for a member spouse who has a superannuation interest in an RSA — a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 2 to the RSA Regulations; and
	(d)	for a member spouse who has a superannuation interest in an exempt public sector superannuation scheme or the superannuation scheme constituted by the Superannuation Act 1922 — any of the following:
	(i)	the retirement of the member spouse;
	(ii)	the death of the member spouse;
	(iii)	the termination of gainful employment by the member spouse, because of his or her ill health, if it is unlikely that the member spouse will later engage in gainful employment for which he or she is reasonably qualified by reason of education, training or experience.
45	Meaning of base amount allocated to the non‑member spouse
	(1)	For this Part, the base amount allocated to the non-member spouse, in relation to a superannuation interest, is:
	(a)	in the case of an interest that is identified in a superannuation agreement or flag lifting agreement:
	(i)	the base amount specified in the agreement in relation to the interest for the purposes of Part VIIIB of the Act, rounded, if necessary, in accordance with subregulation (2); or
	(ii)	the base amount calculated in accordance with a method specified in the agreement, rounded, if necessary, in accordance with subregulation (2); and
	(b)	in the case of an interest in relation to which a splitting order applies — the base amount allocated to the non‑member spouse by the court under subsection 90MT (4) of the Act, rounded, if necessary, in accordance with subregulation (2).
	(2)	For subregulation (1):
	(a)	a base amount that includes a part of a dollar that is less than 50 cents is to be rounded down to the nearest dollar; and
	(b)	a base amount that includes a part of a dollar that is 50 cents or more is to be rounded up to the nearest dollar.
Division 6.2	Superannuation interest in growth phase at date of service of agreement or date of order
46	Application of Division 6.2 (Act s 90MJ, s 90MT)
		For section 90MJ of the Act and regulation 16, and paragraph 90MT (1) (a) of the Act and paragraph 23 (2) (a) of these Regulations, this Division sets out how to calculate the amount (if any) that the non‑member spouse is entitled to be paid under a payment split in respect of a splittable payment that becomes payable in respect of a superannuation interest of a member spouse if:
	(a)	the interest is not a percentage-only interest; and
	(b)	in the case of an interest that is identified in a superannuation agreement or flag lifting agreement — the interest was in the growth phase at the date when the agreement was served on the trustee under section 90MI of the Act; and
	(c)	in the case of an interest in relation to which a splitting order applies — the interest was in the growth phase at the date of the order.
Note   This Division does not apply to a payment split in respect of a small superannuation accounts interest — see paragraphs 16 (1) (a) and 23 (1) (b) of these Regulations.
47	Adjustment of base amount
	(1)	For the purpose of calculating the amount (if any) that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest, the base amount allocated to the non‑member spouse in relation to the superannuation interest must be adjusted by the trustee of the eligible superannuation plan in which the interest is held in accordance with this regulation.
	(2)	After each accrual period in relation to the superannuation interest, the trustee must adjust the base amount by the amount of interest (if any) that has accrued to the base amount in that accrual period.
	(3)	For subregulation (2), interest accrues to the base amount in an accrual period at the rate that applies under regulation 48.
48	Interest rates for adjustment of base amount
	(1)	The rate at which interest accrues in an accrual period to the base amount allocated to the non-member spouse in relation to a superannuation interest is the rate that applies to the superannuation interest for the accrual period under this regulation.
	(2)	If the superannuation interest is in a unit trust, the interest rate for the accrual period is the percentage change in the unit price in the accrual period.
	(3)	Subject to subregulation (5), if the whole of the superannuation interest is an accumulation interest (other than an accumulation interest in a unit trust), the interest rate for the accrual period is the crediting rate for the eligible superannuation plan in which the superannuation interest is held.
	(4)	Subject to subregulation (5), if any component of the superannuation interest is a defined benefit interest, the interest rate for the accrual period is:
	(a)	if paragraph (b) does not apply — the percentage change in average weekly ordinary time earnings, as published by the Australian Bureau of Statistics, for the preceding 12 months, plus 2.5 percentage points; and
	(b)	if, for the accrual period, the amount of the total benefits payable in respect of the defined benefit interest is calculated by applying a growth factor to a specified amount — that growth factor.
Example for paragraph (4) (b)
The interest rate mentioned in paragraph (4) (b) would apply for an accrual period to a defined benefit interest of a member spouse in respect of which the benefit is defined by reference to the member spouse’s final salary and length of service if, in the accrual period, the interest is converted to a withdrawal or resignation benefit and subsequently adjusted annually by the interest earned by the plan in which the interest is held, or another factor such as the consumer price index or average weekly ordinary time earnings.
	(5)	If different interest rates apply to different components of the superannuation interest (including an accumulation interest) in the accrual period, the interest rate for the accrual period is the weighted average crediting rate that applies to the superannuation interest in the accrual period, expressed as a percentage, being the total amount of interest that accrued in respect of all components of the superannuation interest in the accrual period divided by the total value of the benefits in respect of all components of the superannuation interest at the beginning of the accrual period.
Example
A member of an eligible superannuation plan has a superannuation interest the value of which, at the beginning of an accrual period, is $60 000 (made up of personal contributions and interest valued at $20 000 and employer-financed benefits on resignation valued at $40 000). If the amount of the personal contributions and interest earned interest at the rate of 10% in an accrual period, and the amount of the employer-financed benefits earned interest at the rate of 3% (the rate of the CPI) in the accrual period, the weighted average crediting rate that would apply to the superannuation interest for the accrual period would be 5.33% calculated as follows:
	The value of the interest that accrued to the personal contributions and interest in the accrual period was $2 000 (ie, $20 000  10%).
	The value of the interest that accrued to the employer-financed benefits in the accrual period was $1 200 (ie, $40 000  3%).
	The total interest earned in the accrual period was therefore $3 200 (ie, $2 000  $1 200).
	The weighted average crediting rate that applies to the superannuation interest for the accrual period is the total interest for the accrual period ($3 200) divided by the total benefits at the beginning of the accrual period ($60 000), expressed as a percentage — 5.33%.
49	Amount to be paid to non-member spouse — benefit payable only as lump sum that is equal to or more than adjusted base amount
	(1)	This regulation applies in relation to the superannuation interest if, on satisfying a relevant condition of release in relation to the interest, the member spouse receives a lump sum (other than a lump sum received because the member spouse has chosen, by way of a commutation of a pension payable to him or her, or otherwise, to take the whole, or a part, of the benefits in respect of the interest, as a lump sum) that is equal to or more than the amount of the adjusted base amount applicable to the non-member spouse at that time.
	(2)	The amount that the non-member spouse is entitled to be paid from the lump sum is the amount that is equal to the amount of the adjusted base amount applicable to the non-member spouse at that time.
	(3)	The non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
50	Amount to be paid to non-member spouse — benefit payable only as lump sum that is less than adjusted base amount
	(1)	This regulation applies in relation to the superannuation interest if, on satisfying a relevant condition of release in relation to the interest, the member spouse receives a lump sum (other than a lump sum received because the member spouse has chosen, by way of a commutation of a pension payable to him or her, or otherwise, to take the whole, or a part, of the benefits in respect of the interest, as a lump sum) that is less than the amount of the adjusted base amount applicable to the non‑member spouse at that time.
	(2)	The amount that the non-member spouse is entitled to be paid in respect of the superannuation interest is:
	(a)	the amount of the lump sum; and
	(b)	unless regulation 51 applies in relation to the interest, the amount, calculated in accordance with subregulation (3), from each other splittable payment that becomes payable in respect of the interest.
	(3)	For paragraph (2) (b), the amount to be paid to the non-member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula:

		where:
ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest.
X is the amount of the lump sum paid to the non‑member spouse under paragraph (2) (a).
SP is the amount of the relevant splittable payment.
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest’.
51	Amount to be paid to non-member spouse — optional lump sum from remaining benefits
	(1)	This subregulation applies in relation to the superannuation interest if:
	(a)	the non-member spouse is entitled to be paid the amount of a lump sum in respect of the interest under paragraph 50 (2) (a); and
	(b)	the member spouse may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take the whole, or a part, of the remaining benefits in respect of the interest as a lump sum; and
	(c)	the non-member spouse has served a request, in accordance with Form 2 in Schedule 1, on the trustee of the plan requesting that the non-member spouse be paid, as a lump sum, the whole, or a proportion, of the remaining adjusted base amount applicable to the non‑member spouse at that time; and
	(d)	any choice by the member spouse to be paid the amount requested by the non-member spouse will not cause the member spouse to lose the right to take the remaining part of the benefits in respect of the interest as a pension.
	(2)	If the non-member spouse has requested to be paid, as a lump sum, the whole of the remaining adjusted base amount applicable to the non-member spouse at that time:
	(a)	the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (3); and
	(b)	the non-member spouse is entitled to be paid that amount; and
	(c)	the non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
	(3)	For paragraph (2) (a), the amount of the lump sum is calculated in accordance with the following formula:

		where:
ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment became payable in respect of the superannuation interest.
X is the amount of the lump sum paid to the non‑member spouse under paragraph 50 (2) (a).
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
	(4)	If the non-member spouse has requested to be paid, as a lump sum, a proportion of the remaining adjusted base amount applicable to the non-member spouse at that time:
	(a)	the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (5); and
	(b)	the non-member spouse is entitled to be paid:
	(i)	that amount; and
	(ii)	the amount, calculated in accordance with subregulation (6), from each other splittable payment that becomes payable in respect of the superannuation interest.
	(5)	For paragraph (4) (a), the amount of the lump sum is calculated in accordance with the following formula:

		where:
ABA is the amount of the adjusted base amount applicable to the non-member spouse at the date when the first splittable payment became payable in respect of the superannuation interest.
X is the amount of the lump sum paid to the non‑member spouse under paragraph 50 (2) (a).
Prop. is the proportion of the remaining adjusted base amount applicable to the non-member spouse that the non-member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee.
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
	(6)	For subparagraph (4) (b) (ii), the amount to be paid to the non‑member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula:

where:
ABA is the amount of the adjusted base amount applicable to the non-member spouse at the date when the first splittable payment became payable in respect of the superannuation interest.
X is the amount of the lump sum paid to the non‑member spouse under paragraph 50 (2) (a).
Prop. is the proportion of the remaining adjusted base amount applicable to the non-member spouse that the non-member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee.
SP is the amount of the relevant splittable payment.
rV is the remaining value of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 50 (2) (a) and subparagraph (4) (b) (ii) of this regulation, calculated in accordance with subregulation (7).
	(7)	For subregulation (6), the remaining value (rV) of the superannuation interest after the payment of the lump sums to the non-member spouse under paragraph 50 (2) (a) and subparagraph (4) (b) (ii) of this regulation is calculated in accordance with the following formula:

where:
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest’.
X is the amount of the lump sum paid to the non‑member spouse under paragraph 50 (2) (a).
Y is the amount of the lump sum paid to the non‑member spouse under subparagraph (4) (b) (i) of this regulation.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
52	Amount to be paid to non-member spouse — optional lump sum — payment of whole of adjusted base amount
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	on satisfying a relevant condition of release in relation to the interest, the member spouse may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take a lump sum that is at least the amount of the adjusted base amount applicable to the non‑member spouse at that time, without losing the right to take the remaining part of the benefits in respect of the interest as a pension; and
	(b)	the non-member spouse has served a request, in accordance with Form 3 in Schedule 1, on the trustee of the plan requesting that the non-member spouse be paid, as a lump sum, the whole of the adjusted base amount applicable to the non-member spouse at that time.
	(2)	The member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with the following formula:

		where:
ABA is the amount of the adjusted base amount applicable to the non-member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest.
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
	(3)	The amount that the non-member spouse is entitled to be paid in respect of the superannuation interest is the amount calculated in accordance with subregulation (2).
	(4)	The non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
53	Amount to be paid to non-member spouse — optional lump sum — payment of part of adjusted base amount
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	on satisfying a relevant condition of release in relation to the interest, the member spouse may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take a lump sum that is at least the amount of the adjusted base amount applicable to the non‑member spouse at that time, without losing the right to take the remaining part of the benefits in respect of the interest as a pension; and
	(b)	the non-member spouse has served a request, in accordance with Form 3 in Schedule 1, on the trustee of the plan requesting that the non-member spouse be paid, as a lump sum, a proportion of the adjusted base amount applicable to the non-member spouse at that time.
	(2)	The member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with the following formula:

		where:
ABA is the amount of the adjusted base amount applicable to the non-member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest (the applicable adjusted base amount).
Prop. is the proportion of the applicable adjusted base amount that the non-member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee.
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
	(3)	The amount that the non-member spouse is entitled to be paid in respect of the superannuation interest is:
	(a)	the amount of the lump sum, calculated in accordance with subregulation (2); and
	(b)	the amount, calculated in accordance with subregulation (4), from each other splittable payment that becomes payable in respect of the interest.
	(4)	For paragraph (3) (b), the amount to be paid to the non-member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula:

		where:
ABA is the amount of the adjusted base amount applicable to the non-member spouse at the date when the first splittable payment became payable in respect of the superannuation interest (the applicable adjusted base amount).
Prop. is the proportion of the applicable adjusted base amount that the non-member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee.
SP is the amount of the relevant splittable payment.
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest’.
Y is the amount of the lump sum paid to the non‑member spouse under paragraph (3) (a).
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the time the member spouse satisfies the relevant condition of release.
54	Amount to be paid to non-member spouse — no benefit payable only as lump sum
	(1)	This regulation applies in relation to the superannuation interest if, on satisfying a relevant condition of release in relation to the interest, no benefit is payable to the member spouse as a lump sum (other than a lump sum that the member spouse may choose to take, by way of a commutation of a pension payable to him or her, or otherwise, in respect of the whole, or a part, of the benefits in respect of the interest).
	(2)	The amount that the non-member spouse is entitled to be paid in respect of each splittable payment that becomes payable in respect of the superannuation interest is:

		where:
ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest.
SP is the amount of the relevant splittable payment.
V is the value of the superannuation interest at the date when the first splittable payment becomes payable in respect of the superannuation interest, determined in accordance with the relevant method of valuation set out in Division 5.2 as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment becomes payable in respect of the superannuation interest’.
Division 6.3	Superannuation interest in payment phase at date of service of agreement or date of order
55	Application of Division 6.3 (Act s 90MJ, s 90MT)
		For section 90MJ of the Act and subregulation 17 (4), and paragraph 90MT (1) (a) of the Act and paragraph 23 (2) (b) of these Regulations, this Division sets out how to calculate the amount (if any) that the non-member spouse is entitled to be paid under a payment split in respect of a splittable payment that becomes payable in respect of a superannuation interest of a member spouse if:
	(a)	the interest is not a percentage-only interest; and
	(b)	in the case of an interest that is identified in a superannuation agreement or flag lifting agreement:
	(i)	the agreement states that the base amount is a total amount that relates to the whole of the superannuation interest, or the base amount is taken to be a total amount that relates to the whole of the superannuation interest; and
	(ii)	the interest was in the payment phase at the date when the agreement was served on the trustee under section 90MI of the Act; and
	(c)	in the case of an interest in relation to which a splitting order under paragraph 90MT (1) (a) of the Act applies — the interest was in the payment phase at the date of the order.
Note   This Division does not apply to a payment split in respect of a small superannuation accounts interest — see paragraphs 17 (1) (a) and 23 (1) (b) of these Regulations.
56	Amount to be paid to non-member spouse — first splittable payment after operative time equal to or more than base amount
	(1)	This regulation applies in relation to the superannuation interest if the amount of the first splittable payment that becomes payable in respect of the interest after the operative time is equal to or more than the amount of the base amount allocated to the non‑member spouse in relation to the interest.
	(2)	The amount that the non-member spouse is entitled to be paid from the first splittable payment is the amount that is equal to the base amount allocated to the non‑member spouse in relation to the superannuation interest.
	(3)	The non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
57	Amount to be paid to non-member spouse — first splittable payment after operative time less than base amount
	(1)	This regulation applies in relation to the superannuation interest if the amount of the first splittable payment that becomes payable in respect of the interest after the operative time is less than the amount of the base amount allocated to the non‑member spouse in relation to the interest.
	(2)	The amount that the non-member spouse is entitled to be paid in respect of the superannuation interest is:
	(a)	the amount of the first splittable payment; and
	(b)	unless regulation 58 applies in relation to the interest, the amount, calculated in accordance with subregulation (3), from each other splittable payment that becomes payable in respect of the interest.
	(3)	For paragraph (2) (b), the amount to be paid to the non-member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula:

		where:
BA is the base amount allocated to the non-member spouse in relation to the superannuation interest.
X is the amount of the first splittable payment paid to the non‑member spouse under paragraph (2) (a).
SP is the amount of the relevant splittable payment.
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest after the operative time, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest after the operative time’.
58	Amount to be paid to non-member spouse — optional lump sum from remaining benefits
	(1)	This subregulation applies in relation to the superannuation interest if:
	(a)	the non-member spouse is entitled to be paid the amount of the first splittable payment in respect of the interest after the operative time under paragraph 57 (2) (a); and
	(b)	the member spouse may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take the whole, or a part, of the remaining benefits in respect of the interest as a lump sum; and
	(c)	the non-member spouse has served a request, in accordance with Form 4 in Schedule 1, on the trustee of the plan requesting that the non-member spouse be paid, as a lump sum, the whole, or a proportion, of the remaining base amount allocated to the non‑member spouse in relation to the interest; and
	(d)	any choice by the member spouse to be paid the amount requested by the non-member spouse will not cause the member spouse to lose the right to take the remaining part of the benefits in respect of the interest as a pension.
	(2)	If the non-member spouse has requested to be paid, as a lump sum, the whole of the remaining base amount allocated to the non-member spouse in relation to the superannuation interest:
	(a)	the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (3); and
	(b)	the non-member spouse is entitled to be paid that amount; and
	(c)	the non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
	(3)	For paragraph (2) (a), the amount of the lump sum is calculated in accordance with the following formula:

		where:
BA is the base amount allocated to the non-member spouse in relation to the superannuation interest.
X is the amount of the first splittable payment paid to the non‑member spouse under paragraph 57 (2) (a).
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the date of the first splittable payment to the member spouse in respect of the interest after the operative time.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the date of the first splittable payment to the member spouse in respect of the interest after the operative time.
	(4)	If the non-member spouse has requested to be paid, as a lump sum, a proportion of the remaining base amount allocated to the non-member spouse in relation to the superannuation interest:
	(a)	the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (5); and
	(b)	the non-member spouse is entitled to be paid:
	(i)	that amount; and
	(ii)	the amount, calculated in accordance with subregulation (6), from each other splittable payment that becomes payable in respect of the superannuation interest.
	(5)	For paragraph (4) (a), the amount of the lump sum is calculated in accordance with the following formula:

		where:
BA is the base amount allocated to the non-member spouse in relation to the superannuation interest.
X is the amount of the first splittable payment paid to the non‑member spouse under paragraph 57 (2) (a).
Prop. is the proportion of the remaining base amount allocated to the non-member spouse in relation to the interest that the non-member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee.
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the date of the first splittable payment to the member spouse in respect of the interest after the operative time.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the date of the first splittable payment to the member spouse in respect of the interest after the operative time.
	(6)	For subparagraph (4) (b) (ii), the amount to be paid to the non‑member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula:

		where:
BA is the base amount allocated to the non-member spouse in relation to the superannuation interest.
X is the amount of the first splittable payment paid to the non‑member spouse under paragraph 57 (2) (a).
Prop. is the proportion of the remaining base amount allocated to the non-member spouse in relation to the interest that the non-member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee.
SP is the amount of the relevant splittable payment.
rV is the remaining value of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 57 (2) (a) and subparagraph (4) (b) (ii) of this regulation, calculated in accordance with subregulation (7).
	(7)	For subregulation (6), the remaining value (rV) of the superannuation interest after the payment of the lump sums to the non-member spouse under paragraph 57 (2) (a) and subparagraph (4) (b) (ii) of this regulation is calculated in accordance with the following formula:

		where:
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest after the operative time, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest after the operative time’.
X is the amount of the lump sum paid to the non‑member spouse under paragraph 57 (2) (a).
Y is the amount of the lump sum paid to the non‑member spouse under subparagraph (4) (b) (i) of this regulation.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the date of the first splittable payment to the member spouse in respect of the interest after the operative time.
Comm is the commutation factor for converting, under the governing rules of the plan, a pension to a lump sum at the member spouse’s age at the date of the first splittable payment to the member spouse in respect of the interest after the operative time.

Part 7	General provisions about payment splitting
Division 7.1	General
59	Fees payable to trustee (Act s 90MY)
	(1)	The trustee of an eligible superannuation plan may charge reasonable fees in respect of any of the following:
	(a)	a payment split;
	(b)	a payment flag;
	(c)	flag lifting under a flag lifting agreement that does not provide for a payment split;
	(d)	an order under section 90MM of the Act terminating the operation of a payment flag;
	(e)	an application under section 90MZB of the Act for information about a superannuation interest.
	(2)	A fee payable in respect of a matter mentioned in paragraph (1) (a), (b), (c) or (d) is payable:
	(a)	subject to paragraph (b), by the member spouse and the non-member spouse in equal parts; or
	(b)	if the fee is in respect of a payment split under which the non-member spouse is entitled to be paid the whole of the amount of each splittable payment that becomes payable — by the non‑member spouse.
	(3)	A fee payable in respect of an application mentioned in paragraph (1) (e) is payable by the person who makes the application.
60	Waiver notice (Act s 90MZA)
		For subsection 90MZA (2) of the Act, a waiver notice must be in accordance with Form 5 in Schedule 1.
Division 7.2	Provision of information to and by trustee
61	Definitions for Division 7.2
		In this Division:
appropriate date, in relation to the information that must be provided by the trustee of an eligible superannuation plan to an applicant, means:
	(a)	the date when the application for the information is received by the trustee; or
	(b)	if an earlier date is specified in the application, that date.
preserved benefits means:
	(a)	for a member of a regulated superannuation fund or an approved deposit fund — preserved benefits in relation to the member under Subdivision 6.1.2 of the SIS Regulations; and
	(b)	for a member of an RSA — preserved benefits in relation to the member under Subdivision 4.1.2 of the RSA Regulations.
restricted non-preserved benefits means:
	(a)	for a member of a regulated superannuation fund — restricted non-preserved benefits in relation to the member under Subdivision 6.1.3 of the SIS Regulations; and
	(b)	for a member of an RSA — restricted non‑preserved benefits in relation to the member under Subdivision 4.1.3 of the RSA Regulations.
unrestricted non-preserved benefits means:
	(a)	for a member of a regulated superannuation fund or an approved deposit fund — unrestricted non‑preserved benefits in relation to the member under Subdivision 6.1.4 of the SIS Regulations; and
	(b)	for a member of an RSA — unrestricted non‑preserved benefits in relation to the member under Subdivision 4.1.4 of the RSA Regulations.
62	Application to trustee for information — accompanying declaration (Act s 90MZB)
		For subsection 90MZB (2) of the Act, the declaration accompanying an application by an eligible person, under section 90MZB of the Act, to the trustee of an eligible superannuation plan for information about a superannuation interest of a member of the plan must be in accordance with Form 6 in Schedule 1.
63	Information about certain accumulation interests (Act s 90MZB)
	(1)	This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if:
	(a)	the interest is an accumulation interest or a component of the interest is an accumulation interest; and
	(b)	the interest is not a percentage-only interest or an interest in a self managed superannuation fund.
	(2)	For subsection 90MZB (3) of the Act, the information about the accumulation interest that must be provided to an applicant by the trustee of the plan is as follows:
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag;
	(b)	the date of commencement of the member’s eligible service period, within the meaning of subsection 27A (1) of the Income Tax Assessment Act 1936;
	(c)	the date when the member first became a member of the plan;
	(d)	if the interest was in the payment phase at the appropriate date and the member is receiving ongoing pension payments — the payment phase information in relation to the interest mentioned in subregulation (3);
	(e)	if the interest was in the growth phase at the appropriate date — the growth phase information in relation to the interest mentioned in subregulation (4).
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is as follows:
	(a)	unless the ongoing pension payments in respect of the interest are in respect of an allocated pension:
	(i)	the amount of annual pension benefit payable to the member at that date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation;
	(b)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date;
	(c)	a statement indicating whether there is any reversionary beneficiary in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member.
	(4)	For paragraph (2) (e), the growth phase information in relation to the superannuation interest is as follows:
	(a)	if 2 or more member information statements in relation to the interest have been provided to the member, and the appropriate date is between the valuation date stated in one statement (the earlier statement) and the valuation date stated in the next statement (the next statement):
	(i)	the value of the interest, as stated in the earlier statement; and
	(ii)	the value of the interest, as stated in the next statement; and
	(iii)	the amount and, if known, the date of any rollover or transfer by the member, or partial payment to the member, between the valuation dates stated in those statements;
	(b)	if at least one member information statement in relation to the interest has been provided to the member, and the appropriate date is before the valuation date stated in the first statement:
	(i)	the value of the interest, as stated in the first statement; and
	(ii)	the value of the interest at the date when the interest was acquired; and
	(iii)	the amount and, if known, the date of any rollover or transfer by the member, or partial payment to the member, between the date when the interest was acquired and the valuation date stated in the first statement;
	(c)	if at least one member information statement in relation to the interest has been provided to the member, and the appropriate date is after the valuation date stated in the most recent statement:
	(i)	the value of the interest, as stated in the most recent statement; and
	(ii)	the value of the interest at the appropriate date; and
	(iii)	the amount and, if known, the date of any rollover or transfer by the member, or partial payment to the member, between the valuation date stated in the most recent statement and the appropriate date;
	(d)	if the interest is in a regulated superannuation fund or an RSA — the amount, at the date when the application for information is received by the trustee, of:
	(i)	the member’s preserved benefits; and
	(ii)	the member’s restricted non-preserved benefits; and
	(iii)	the member’s unrestricted non-preserved benefits;
	(e)	if the interest is in an approved deposit fund — the amount, at the date when the application for information is received by the trustee, of:
	(i)	the member’s preserved benefits; and
	(ii)	the member’s unrestricted non-preserved benefits;
	(f)	if a payment that would have been an eligible termination payment under Subdivision AA of Part III of the Income Tax Assessment Act 1936 had been made in respect of the interest at the date when the application for information is received by the trustee — the value that the components of the payment mentioned in paragraphs 27AA (1) (a), (aa), (b), (c), (cb), (d) and (e) of that Act would have had;
	(g)	if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated — a statement to this effect;
	(h)	if the interest is a partially vested accumulation interest:
	(i)	the value of the interest if the interest were fully vested; and
	(ii)	the vesting term that applies to the interest; and
	(iii)	the date when the vesting term commenced; and
	(iv)	a statement indicating whether the Minister has approved, under regulation 38, a method or factors for determining the value of the interest and giving details of any method or factors so approved.
64	Information about certain defined benefit interests (Act s 90MZB)
	(1)	This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if:
	(a)	the interest is a defined benefit interest or a component of the interest is a defined benefit interest; and
	(b)	the interest is not a percentage-only interest or an interest in a self managed superannuation fund.
	(2)	For subsection 90MZB (3) of the Act, the information about the defined benefit interest that must be provided to an applicant by the trustee of the plan is as follows:
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag;
	(b)	the date of commencement of the member’s eligible service period, within the meaning of subsection 27A (1) of the Income Tax Assessment Act 1936;
	(c)	the date when the member first became a member of the plan;
	(d)	if the interest was in the payment phase at the appropriate date and the member is receiving ongoing pension payments — the payment phase information in relation to the interest mentioned in subregulation (3);
	(e)	if the interest was in the growth phase at the appropriate date — the growth phase information in relation to the interest mentioned in subregulation (4).
Note   This information may not have to be provided by a secondary government trustee — see regulation 69.
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is as follows:
	(a)	unless the ongoing pension payments in respect of the interest are in respect of an allocated pension:
	(i)	the amount of annual pension benefit payable to the member at that date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation;
	(b)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date;
	(c)	a statement indicating whether there is any reversionary beneficiary in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member.
	(4)	For paragraph (2) (e), the growth phase information in relation to the superannuation interest is as follows:
	(a)	the member’s retirement age;
Note   The term member’s retirement age is defined in regulation 3.
	(b)	the accrued benefit multiple, within the meaning given by regulation 65, for any lump sum, or pension, payable in respect of the interest;
	(c)	the salary figure, on which any benefit payable in respect of the interest would be based, assuming that the member were eligible to retire at the appropriate date;
Example
If the benefit payable in respect of a member’s superannuation interest is defined by reference to the member’s final average salary, the salary figure for this paragraph would be the member’s final average salary.
	(d)	if the benefit in respect of the interest is payable as a combination of a lump sum and a pension, and the maximum amount of the lump sum is specified in the governing rules of the plan — the maximum amount of the lump sum, expressed:
	(i)	if the amount is specified as an amount of dollars — as an amount of dollars; and
	(ii)	in any other case — as a percentage of the total value of the superannuation interest;
	(e)	if any pension payable in respect of the interest is indexed and, if so, the method of indexation;
	(f)	if any pension payable in respect of the interest has a guarantee period and, if so, the length of the guarantee period;
	(g)	the conversion factor for converting a lump sum to a pension that will apply at the member’s retirement age;
	(h)	the commutation factor for commuting a pension to a lump sum that will apply at the member’s retirement age;
	(i)	if there is a reversionary beneficiary in relation to the interest — the proportion of the interest that the reversionary beneficiary would receive on the death of the member;
	(j)	unless the interest is in a constitutionally protected fund — the amount (if any) that was stated to be the surcharge debt of the member in the most recent member information statement provided to the member before the appropriate date;
	(k)	if the interest is in a regulated superannuation fund or an RSA — the amount, at the date when the application for information is received by the trustee, of:
	(i)	the member’s preserved benefits; and
	(ii)	the member’s restricted non-preserved benefits; and
	(iii)	the member’s unrestricted non-preserved benefits;
	(l)	if the interest is in an approved deposit fund — the amount, at the date when the application for information is received by the trustee, of:
	(i)	the member’s preserved benefits; and
	(ii)	the member’s unrestricted non-preserved benefits;
	(m)	if a payment that would have been an eligible termination payment under Subdivision AA of Part III of the Income Tax Assessment Act 1936 had been made in respect of the interest at the date when the application for information is received by the trustee — the value that the components of the payment mentioned in paragraphs 27AA (1) (a), (aa), (b), (c), (cb), (d) and (e) of that Act would have had;
	(n)	a statement:
	(i)	indicating whether the Minister has approved, under regulation 38, a method or factors for determining the value of the interest; and
	(ii)	giving details of any method or factors so approved;
	(o)	if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated — a statement to this effect.
65	Information about certain defined benefit interests — meaning of accrued benefit multiple
	(1)	For paragraph 64 (4) (b), the accrued benefit multiple for a lump sum, or pension, payable in respect of a superannuation interest of a member in an eligible superannuation plan is the accrued benefit multiple that applies under this regulation.
	(2)	If an accrued benefit multiple is defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held, the accrued benefit multiple is the multiple as defined.
	(3)	If an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held, but a multiple is, under the governing rules of the plan, used to define the benefit payable to a member of the plan in respect of a defined benefit interest in the plan while the interest is in the growth phase, the accrued benefit multiple is that multiple.
	(4)	If an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held, and the benefit in respect of the interest is payable as a lump sum, the accrued benefit multiple is:

		where:
LSM is the multiple that will be applied to the member’s salary figure at the member’s earliest retirement date to calculate the lump sum retirement benefit that will be payable to the member at that date.
T1 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the appropriate date.
T2 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the member’s earliest retirement date.
	(5)	If an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held, and the benefit in respect of the interest is payable as a pension, the accrued benefit multiple is:

where:
PM is the multiple that will be applied to the member’s salary figure at the member’s earliest retirement date to calculate the pension benefit that will be payable to the member at that date.
T1 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the appropriate date.
T2 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the member’s earliest retirement date.
	(6)	For the purpose of calculating the accrued benefit multiple in respect of a defined benefit interest of a member of an eligible superannuation plan under subregulation (4) or (5), if the member’s benefit in respect of the interest will, under the governing rules of the plan, depend on the amount of contributions made by the member to the plan and no particular rate of contributions is required under the governing rules of plan, it is to be assumed that:
	(a)	the member has contributed to the plan at the rate that, under the governing rules of the plan, is the standard rate of contributions, unless the member has exercised any election under those rules to contribute at a different rate; or
	(b)	if, under the governing rules of the plan, a range of contribution rates is available to the member, the member has contributed to the plan at the mid‑point of that range, unless the member has exercised any election under the governing rules of the plan to contribute at a different rate.
	(7)	In this regulation:
member’s earliest retirement date, for a member of an eligible superannuation plan, means the first date when the member could retire and become eligible, under the governing rules of the plan, to be paid a retirement benefit in respect of the member’s superannuation interest in the plan.
66	Information about certain percentage-only interests (Act s 90MZB)
	(1)	This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if the interest:
	(a)	is a percentage-only interest; and
	(b)	is not an interest in a self managed superannuation fund.
	(2)	For subsection 90MZB (3) of the Act, the information about the superannuation interest that must be provided to an applicant by the trustee of the plan is as follows:
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag;
	(b)	the date of commencement of the member’s eligible service period, within the meaning of subsection 27A (1) of the Income Tax Assessment Act 1936;
	(c)	the date when the member first became a member of the plan;
	(d)	if the interest was in the payment phase at the appropriate date and the member is receiving ongoing pension payments — the payment phase information in relation to the interest mentioned in subregulation (3);
	(e)	if the interest was in the growth phase at the appropriate date — the growth phase information in relation to the interest mentioned in subregulation (4).
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is as follows:
	(a)	unless the ongoing pension payments in respect of the interest are in respect of an allocated pension:
	(i)	the amount of annual pension benefit payable to the member at that date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation;
	(b)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date;
	(c)	a statement indicating whether there is any reversionary beneficiary in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member.
	(4)	For paragraph (2) (e), the growth phase information in relation to the superannuation interest is as follows:
	(a)	the member’s accrued benefit multiple at separation, as defined in the governing rules of the plan, at the appropriate date;
	(b)	the salary figure on which any benefit payable in respect of the interest would be based, at the appropriate date;
	(c)	unless the interest is in a constitutionally protected fund — the amount (if any) that was stated to be the surcharge debt of the member in the most recent member information statement provided to the member before the appropriate date;
	(d)	if the interest is in a regulated superannuation fund or an RSA — the amount, at the date when the application for information is received by the trustee, of:
	(i)	the member’s preserved benefits; and
	(ii)	the member’s restricted non-preserved benefits; and
	(iii)	the member’s unrestricted non-preserved benefits;
	(e)	if a payment that would have been an eligible termination payment under Subdivision AA of Part III of the Income Tax Assessment Act 1936 had been made in respect of the interest at the date when the application for information is received by the trustee — the value that the components of the payment mentioned in paragraphs 27AA (1) (a), (aa), (b), (c), (cb), (d) and (e) of that Act would have had;
	(f)	if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated — a statement to this effect.
67	Information about interests in self managed superannuation funds (Act s 90MZB)
	(1)	This regulation applies in relation to a superannuation interest of a member of a self managed superannuation fund.
	(2)	For subsection 90MZB (3) of the Act, the information about the superannuation interest that must be provided to an applicant by the trustee of the plan is as follows:
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag;
	(b)	the date of commencement of the member’s eligible service period, within the meaning of subsection 27A (1) of the Income Tax Assessment Act 1936;
	(c)	the date when the member first became a member of the plan;
	(d)	if the interest was in the payment phase at the appropriate date and the member is receiving ongoing pension payments — the payment phase information in relation to the interest mentioned in subregulation (3);
	(e)	if the interest was in the growth phase at the appropriate date and the trustee has given information, under Division 2.5 of the SIS Regulations, to each member of the plan that the plan is to be reconstructed or terminated — a statement to this effect.
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is as follows:
	(a)	unless the ongoing pension payments in respect of the interest are in respect of an allocated pension:
	(i)	the amount of annual pension benefit payable to the member at that date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation;
	(b)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date.
68	Information about small superannuation accounts interests (Act s 90MZB)
	(1)	This regulation applies in relation to a superannuation interest of a member in an account within the meaning of the Small Superannuation Accounts Act 1995.
	(2)	For subsection 90MZB (3) of the Act, the information that must be provided to an applicant by the trustee of the plan is a statement setting out the amount of the account balance of the member’s account at the date when the application for information is received by the trustee.
69	Secondary government trustee not required to provide information (Act s 90MZB)
	(1)	Subject to subregulation (2), a secondary government trustee of an eligible superannuation plan is not required to provide any information to an applicant, under section 90MZB of the Act, about a superannuation interest of a member of the plan.
	(2)	Subregulation (1) does not apply to a secondary government trustee of the scheme constituted by the Parliamentary Contributory Superannuation Act 1948.
70	Information to be provided by trustee following service of agreement or order (Act s 90MZB)
	(1)	This regulation applies to the trustee of an eligible superannuation plan, other than:
	(a)	a regulated superannuation fund; or
	(b)	an approved deposit fund; or
	(c)	an RSA; or
	(d)	an account within the meaning of the Small Superannuation Accounts Act 1995.
	(2)	For subsection 90MZB (7) of the Act, if the trustee is served with a copy of a superannuation agreement, flag lifting agreement or splitting order, that deals with a member spouse’s superannuation interest in the plan, the trustee must, as soon as practicable after the operative time for the payment split under the agreement or order, give to the non-member spouse in relation to the superannuation interest a written notice stating the following information:
	(a)	the contact details for the plan;
	(b)	if the interest is not a percentage-only interest:
	(i)	the base amount allocated to the non‑member spouse under the agreement or order; and
	(ii)	the method by which the base amount will be adjusted on an ongoing basis;
	(c)	if the interest is a percentage-only interest:
	(i)	the percentage specified in the agreement or order; and
	(ii)	if the payment split is under a superannuation agreement or flag lifting agreement, whether the percentage is to apply for the purposes of subparagraph 90MJ (1) (b) (i) of the Act; and
	(iii)	if the payment split is under a splitting order, whether the order is made under paragraph 90MT (1) (c) of the Act;
	(d)	the circumstances in which the entitlement of the non‑member spouse will become payable;
	(e)	the entitlement of the non-member spouse if, at the time when the notice is given, a payment were to be made in respect of the interest that would be an eligible termination payment under Subdivision AA of Part III of the Income Tax Assessment Act 1936, and the value that the components of the payment mentioned in paragraphs 27AA (1) (a), (aa), (b), (c), (cb), (d) and (e) of that Act would have;
	(f)	details of any fee payable by the non-member spouse in respect of the payment split, and arrangements for the payment of any such fee.
71	Information to be provided by trustee at end of financial year
	(1)	This regulation applies in relation to a superannuation interest if:
	(a)	the interest is any of the following eligible superannuation plans:
	(i)	an exempt public sector superannuation scheme;
	(ii)	a superannuation fund within the meaning of the SIS Act that is not a regulated superannuation fund;
	(iii)	the superannuation scheme constituted by the Superannuation Act 1922; and
	(b)	the interest is not a percentage-only interest; and
	(c)	the interest is in the growth phase during a particular financial year.
	(2)	The trustee of the plan must give the following information to the non-member spouse in relation to the superannuation interest for each financial year in which the interest is in the growth phase:
	(a)	the value of the adjusted base amount applicable to the non-member spouse at the end of the financial year;
	(b)	the amount of the adjustment in the financial year;
	(c)	the interest rate that applied, under regulation 48, to the superannuation interest for the financial year.
	(3)	The trustee must give the information to the non-member spouse not later than 6 months after the end of the relevant financial year.
Penalty for subregulation (3):   1 penalty unit.
72	Notice to trustee by non-member spouse
	(1)	The non-member spouse in relation to a superannuation interest that is subject to a payment split must notify the trustee of the eligible superannuation plan in which the interest is held of the following matters:
	(a)	the non-member spouse’s full name;
	(b)	the non-member spouse’s postal address;
	(c)	the non-member spouse’s date of birth;
	(d)	whether the non-member spouse is a member of the plan and, if so, the non-member spouse’s membership number, if known.
	(2)	The notice must:
	(a)	be in writing; and
	(b)	be signed by the non-member spouse; and
	(c)	state the date when it is given.
	(3)	The non-member spouse must give the notice to the trustee as soon as practicable after the copy of the relevant superannuation agreement or flag lifting agreement is served on the trustee, or the splitting order is made.

Schedule 1	Forms
Form 1	Notice to trustee that non-member spouse’s entitlement satisfied in respect of particular payment split
(subregulations 14 (3) and (4))
NOTICE TO TRUSTEE THAT NON-MEMBER SPOUSE’S ENTITLEMENT SATISFIED IN RESPECT OF PARTICULAR PAYMENT SPLIT
TO the trustee of [name of eligible superannuation plan]:
IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse]
Part A — Superannuation interest in a regulated superannuation fund, approved deposit fund or RSA
[Complete Part A if the superannuation interest is in a regulated superannuation fund, approved deposit fund or RSA]
I, [name], the non-member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], give notice that:
*1.	I have received from [name of member spouse] the amount of [amount] in satisfaction of my entitlement in respect of the payment split.
	OR
*1.	[Name of member spouse] has paid the amount of [amount] to a regulated superannuation fund or an RSA, to be held for my benefit, in satisfaction of my entitlement in respect of the payment split.
2.	I received independent legal advice from a legal practitioner explaining that the payment to me is in substitution for:
(a)	any entitlement I have to receive an amount of money from a splittable payment that becomes payable in respect of the superannuation interest; or
(b)	any right I have to make a request under the payment split provisions of the Superannuation Industry (Supervision) Regulations 1994 to have a new interest created in the eligible superannuation plan in which the member spouse has the superannuation interest, or to request the trustee of that plan to transfer an amount to another eligible superannuation plan to be held for my benefit.
Part B — Superannuation interest in an exempt public sector superannuation scheme or the scheme constituted by the Superannuation Act 1922
[Complete Part B if the superannuation interest is in an exempt public sector superannuation scheme or the scheme constituted by the Superannuation Act 1922]
I, [name], the non-member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], give notice that:
1.	I have received from [name of member spouse] the amount of [amount] in satisfaction of my entitlement in respect of the payment split.
2.	I received independent legal advice from a legal practitioner explaining that the payment to me is in substitution for any entitlement I have to receive an amount of money from a splittable payment that becomes payable in respect of the superannuation interest.
DATED:
[signature of non-member spouse]
[signature of member spouse]
*   Omit if not applicable

Form 2	Request to trustee by non-member spouse for payment, as lump sum, of all or part of remaining adjusted base amount
(regulation 51)
REQUEST TO TRUSTEE BY NON-MEMBER SPOUSE FOR PAYMENT, AS LUMP SUM, OF ALL OR PART OF REMAINING ADJUSTED BASE AMOUNT
TO the trustee of [name of eligible superannuation plan]:
IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse]
I, [name], the non-member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], having being paid, as a lump sum, an amount under paragraph 50 (2) (a) of the Family Law (Superannuation) Regulations 2001, request that I be paid, as a further lump sum, *the whole/*a specified proportion, being [specify the proportion that is to be paid as a lump sum], of the remaining amount of the adjusted base amount applicable to me at the date when the member spouse satisfies a relevant condition of release in relation to the superannuation interest.
DATED:
[signature of non-member spouse]
*   Omit if not applicable

Form 3	Request to trustee by non-member spouse for payment, as lump sum, of all or part of adjusted base amount
(regulations 52 and 53)
REQUEST TO TRUSTEE BY NON-MEMBER SPOUSE FOR PAYMENT, AS LUMP SUM, OF ALL OR PART OF ADJUSTED BASE AMOUNT
TO the trustee of [name of eligible superannuation plan]:
IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse]
I, [name], the non-member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], request that I be paid, as a lump sum, *the whole/*a specified proportion, being [specify the proportion that is to be paid as a lump sum], of the amount of the adjusted base amount applicable to me at the date when the member spouse satisfies a relevant condition of release in relation to the superannuation interest.
DATED:
[signature of non-member spouse]
*   Omit if not applicable

Form 4	Request to trustee by non-member spouse for payment, as lump sum, of all or part of remaining base amount
(regulation 58)
REQUEST TO TRUSTEE BY NON-MEMBER SPOUSE FOR PAYMENT, AS LUMP SUM, OF ALL OR PART OF REMAINING BASE AMOUNT
TO the trustee of [name of eligible superannuation plan]:
IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse]
I, [name], the non-member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], having being paid, as a lump sum, an amount under paragraph 57 (2) (a) of the Family Law (Superannuation) Regulations 2001, request that I be paid, as a further lump sum, *the whole/*a specified proportion, being [specify the proportion that is to be paid as a lump sum], of the remaining base amount allocated to me in relation to the superannuation interest.
DATED:
[signature of non-member spouse]
*   Omit if not applicable
Form 5	Waiver notice in respect of payment split
(regulation 60)
Family Law Act 1975 subsection 90MZA (2)
WAIVER NOTICE
TO the trustee of [name of eligible superannuation plan]:
IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse]
I, [name], of [postal address], born on [date of birth], give notice that I waive my entitlement to future payments under that payment split.
DATED:
[signature of non-member spouse]

Form 6	Declaration to accompany application to trustee for information about a superannuation interest
(regulation 62)
Family Law Act 1975 subsection 90MZB (2)
DECLARATION BY APPLICANT FOR INFORMATION ABOUT A SUPERANNUATION INTEREST
I, [name], of [postal address], born on [date of birth], make the following declaration in support of my application to the trustee of [name of eligible superannuation plan from which information is sought] (the plan) for information about:
*(a)	my superannuation interest.
*(b)	a superannuation interest of [name of member spouse], born on [date of birth of member spouse], who is a member of the plan.
1.	I am:
*(a)	a member of the plan.
*(b)	the spouse of [name], who is a member of the plan.
*(c)	intending to enter into a superannuation agreement under Part VIIIB of the Family Law Act 1975 with [name], who is a member of the plan.
2.	I require the information to:
*(a)	assist me to properly negotiate a superannuation agreement.
*(b)	assist me in connection with the operation of Part VIIIB of the Family Law Act 1975.
DATED:
[signature of person making declaration]
*   Omit if not applicable

Schedule 2	Method for determining gross value of defined benefit interest
(regulation 29)
Part 1	Preliminary
1	Application of Schedule 2
		This Schedule sets out the method for determining the gross value, at the relevant date, of a defined benefit interest that is in the growth phase at that date.
2	Method
		The method is:
	(a)	if the benefit in respect of the interest is payable only as a lump sum — the method set out in Part 2 of this Schedule; and
	(b)	if the benefit in respect of the interest is payable only as a pension — the method set out in Part 3 of this Schedule; and
	(c)	if the benefit in respect of the interest is payable as a combination of a lump sum and a pension — the method set out in Part 4 of this Schedule.
Part 2	Method — benefit payable only as lump sum
3	Method
	(1)	The method for determining the gross value, at the relevant date, of a defined benefit interest, if the benefit in respect of the interest is payable only as a lump sum is:

where:
A is the value of the lump sum benefit that has accrued in respect of the interest at the relevant date, being the product of the member spouse’s accrued benefit multiple for a lump sum, as provided by the trustee under section 90MZB of the Act, and the salary figure on which benefits in respect of the interest, at that date, would be based, assuming that the member spouse were eligible to retire at that date.
fy+m is the lump sum valuation factor calculated in accordance with subclause (2).
	(2)	For subclause (1), the lump sum valuation factor (fy+m) at the relevant date is calculated as follows:

where:
fy is the lump sum valuation factor mentioned in clause 4 of this Schedule that applies at the relevant date to the term remaining in complete years until the member spouse reaches the member’s retirement age.
m is the number of complete months of the remaining term that are not included in the remaining complete years at the relevant date.
fy+1 is the lump sum valuation factor mentioned in clause 4 of this Schedule that applies to the remaining term at the completion of the next year after the year mentioned in the definition of the factor fy.
4	Lump sum valuation factors
		This clause sets out the lump sum valuation factors.

Remaining term until retirement
(in complete years)	Lump sum valuation factors
(all members)	
44	0.3411	
43	0.3497	
42	0.3586	
41	0.3677	
40	0.3771	
39	0.3869	
38	0.3971	
37	0.4077	
36	0.4186	
35	0.4301	
34	0.4419	
33	0.4542	
32	0.4669	
31	0.4800	
30	0.4935	
29	0.5065	
28	0.5197	
27	0.5333	
26	0.5471	
25	0.5612	
24	0.5755	
23	0.5903	
22	0.6053	
21	0.6207	
20	0.6364	
19	0.6525	
18	0.6689	
17	0.6857	
16	0.7029	
15	0.7204	
14	0.7384	
13	0.7567	
12	0.7755	
11	0.7947	
10	0.8143	
9	0.8345	
8	0.8551	
7	0.8763	
6	0.8981	
5	0.9206	
4	0.9316	
3	0.9446	
2	0.9599	
1	0.9782	
0	1.0000	
Part 3	Method — benefit payable only as pension
5	Method
	(1)	The method for determining the gross value, at the relevant date, of a defined benefit interest, if the benefit in respect of the interest is payable only as a pension is:

		where:
VN is the lump sum value of the accrued pension benefit in respect of the interest at the member’s retirement age, calculated in accordance with subclause (2).
fy+m is the lump sum valuation factor calculated in accordance with subclause 3 (2) of this Schedule.
	(2)	For subclause (1), the lump sum value of the accrued pension benefit in respect of the interest at the member’s retirement age (VN) is calculated as follows:

where:
B is the value of the pension benefit that had accrued in respect of the interest at the relevant date, being the product of the member spouse’s accrued benefit multiple for a pension, as provided by the trustee under section 90MZB of the Act, and the salary figure on which benefits in respect of the interest, at that date, would be based, assuming that the member spouse were eligible to retire at that date.
Pra is the pension valuation factor mentioned in the relevant clause of this Part that applies to the pension and the member’s retirement age.
Rsa is the reversion valuation factor mentioned in the relevant clause of this Part that applies to the pension and the member spouse’s age in completed years at the relevant date.
r is the proportion of the superannuation interest that the reversionary beneficiary of the member spouse would receive on the death of the member spouse, as provided by the trustee under section 90MZB of the Act.
6	Valuation factors — no guarantee period — pension not indexed
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has no guarantee period; and
	(b)	is not indexed.

Member’s retirement age	Pension valuation factors
No guarantee period — pension not indexed	
	Male	Female	
55	12.0764	12.9364	
56	11.8886	12.7841	
57	11.6943	12.6252	
58	11.4934	12.4596	
59	11.2862	12.2869	
60	11.0730	12.1068	
61	10.8540	11.9191	
62	10.6295	11.7238	
63	10.3997	11.5207	
64	10.1653	11.3099	
65	9.9265	11.0912	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
No guarantee period — pension not indexed	
	Male	Female	
Up to 40	1.610	0.691	
41	1.557	0.649	
42	1.503	0.608	
43	1.449	0.567	
44	1.396	0.525	
45	1.342	0.484	
46	1.288	0.442	
47	1.235	0.401	
48	1.181	0.359	
49	1.127	0.318	
50	1.073	0.276	
51	0.912	0.235	
52	0.751	0.193	
53	0.590	0.152	
54	0.429	0.111	
55 and over	0.268	0.069	
7	Valuation factors — no guarantee period — CPI indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has no guarantee period; and
	(b)	is indexed in accordance with the consumer price index.

Member’s retirement age	Pension valuation factors
No guarantee period — CPI indexed pension	
	Male	Female	
55	15.7468	17.2848	
56	15.4181	16.9910	
57	15.0833	16.6899	
58	14.7428	16.3814	
59	14.3970	16.0652	
60	14.0464	15.7414	
61	13.6917	15.4099	
62	13.3333	15.0707	
63	12.9718	14.7241	
64	12.6079	14.3703	
65	12.2423	14.0096	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
No guarantee period — CPI indexed pension	
	Male	Female	
Up to 40	2.761	1.189	
41	2.669	1.118	
42	2.577	1.046	
43	2.485	0.975	
44	2.393	0.904	
45	2.301	0.832	
46	2.209	0.761	
47	2.117	0.690	
48	2.025	0.618	
49	1.933	0.547	
50	1.841	0.476	
51	1.565	0.404	
52	1.288	0.333	
53	1.012	0.262	
54	0.736	0.190	
55 and over	0.460	0.119	
8	Valuation factors — no guarantee period — CPI indexed pension plus 1%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has no guarantee period; and
	(b)	is indexed in accordance with the consumer price index plus 1%.

Member’s retirement age	Pension valuation factors
No guarantee period — CPI indexed pension plus 1%	
	Male	Female	
55	17.7072	19.6689	
56	17.2911	19.2823	
57	16.8702	18.8890	
58	16.4451	18.4890	
59	16.0162	18.0823	
60	15.5842	17.6687	
61	15.1500	17.2484	
62	14.7139	16.8216	
63	14.2768	16.3886	
64	13.8395	15.9499	
65	13.4026	15.5057	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
No guarantee period — CPI indexed pension plus 1%	
	Male	Female	
Up to 40	3.469	1.497	
41	3.354	1.407	
42	3.238	1.317	
43	3.122	1.228	
44	3.007	1.138	
45	2.891	1.048	
46	2.776	0.958	
47	2.660	0.868	
48	2.544	0.779	
49	2.429	0.689	
50	2.313	0.599	
51	1.966	0.509	
52	1.619	0.419	
53	1.272	0.329	
54	0.925	0.240	
55 and over	0.578	0.150	
9	Valuation factors — no guarantee period — CPI indexed pension plus 1% with 5% cap
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has no guarantee period; and
	(b)	is indexed in accordance with the consumer price index plus 1% with a cap of 5%.

Member’s retirement age	Pension valuation factors
No guarantee period
CPI indexed pension plus 1% with 5% cap	
	Male	Female	
55	17.2871	19.1547	
56	16.8903	18.7889	
57	16.4885	18.4163	
58	16.0820	18.0367	
59	15.6714	17.6501	
60	15.2573	17.2564	
61	14.8404	16.8558	
62	14.4213	16.4483	
63	14.0007	16.0344	
64	13.5793	15.6143	
65	13.1579	15.1883	

Member’s age at relevant date 
(in completed years)	Reversion valuation factors
No guarantee period
CPI indexed pension plus 1% with 5% cap	
	Male	Female	
Up to 40	3.313	1.429	
41	3.202	1.343	
42	3.092	1.257	
43	2.981	1.172	
44	2.871	1.086	
45	2.760	1.000	
46	2.650	0.914	
47	2.540	0.829	
48	2.429	0.743	
49	2.319	0.657	
50	2.208	0.572	
51	1.877	0.486	
52	1.546	0.400	
53	1.215	0.314	
54	0.883	0.229	
55 and over	0.552	0.143	
10	Valuation factors — no guarantee period — wage indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has no guarantee period; and
	(b)	is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).

Member’s retirement age	Pension valuation factors
No guarantee period — wage indexed pension	
	Male	Female	
55	18.8258	21.0463	
56	18.3565	20.6017	
57	17.8836	20.1513	
58	17.4074	19.6949	
59	16.9288	19.2325	
60	16.4483	18.7641	
61	15.9668	18.2900	
62	15.4849	17.8104	
63	15.0034	17.3256	
64	14.5232	16.8361	
65	14.0448	16.3424	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
No guarantee period — wage indexed pension	
	Male	Female	
Up to 40	3.900	1.685	
41	3.770	1.584	
42	3.640	1.483	
43	3.510	1.382	
44	3.380	1.280	
45	3.250	1.179	
46	3.120	1.078	
47	2.990	0.977	
48	2.860	0.876	
49	2.730	0.775	
50	2.600	0.674	
51	2.210	0.573	
52	1.820	0.472	
53	1.430	0.371	
54	1.040	0.270	
55 and over	0.650	0.168	
11	Valuation factors — no guarantee period — pension indexed at 3%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has no guarantee period; and
	(b)	is indexed at 3%.

Member’s retirement age	Pension valuation factors
No guarantee period — pension indexed at 3%	
	Male	Female	
55	16.6841	18.4198	
56	16.3146	18.0830	
57	15.9395	17.7392	
58	15.5593	17.3881	
59	15.1744	17.0298	
60	14.7856	16.6641	
61	14.3934	16.2910	
62	13.9983	15.9108	
63	13.6010	15.5236	
64	13.2024	15.1299	
65	12.8029	14.7298	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
No guarantee period — pension indexed at 3%	
	Male	Female	
Up to 40	3.092	1.333	
41	2.989	1.253	
42	2.886	1.173	
43	2.783	1.093	
44	2.680	1.013	
45	2.577	0.933	
46	2.474	0.853	
47	2.371	0.773	
48	2.268	0.693	
49	2.164	0.613	
50	2.061	0.533	
51	1.752	0.453	
52	1.443	0.373	
53	1.134	0.293	
54	0.825	0.213	
55 and over	0.515	0.133	
12	Valuation factors — no guarantee period — pension indexed at 5%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has no guarantee period; and
	(b)	is indexed at 5%.

Member’s retirement age	Pension valuation factors
No guarantee period — pension indexed at 5%	
	Male	Female	
55	21.3952	24.2520	
56	20.7954	23.6617	
57	20.1954	23.0683	
58	19.5956	22.4716	
59	18.9968	21.8718	
60	18.4000	21.2690	
61	17.8059	20.6634	
62	17.2152	20.0555	
63	16.6287	19.4457	
64	16.0475	18.8345	
65	15.4722	18.2227	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
No guarantee period — pension indexed at 5%	
	Male	Female	
Up to 40	4.953	2.145	
41	4.788	2.017	
42	4.623	1.888	
43	4.458	1.759	
44	4.293	1.631	
45	4.128	1.502	
46	3.963	1.373	
47	3.798	1.244	
48	3.633	1.116	
49	3.467	0.987	
50	3.302	0.858	
51	2.807	0.729	
52	2.312	0.601	
53	1.816	0.472	
54	1.321	0.343	
55 and over	0.826	0.215	
13	Valuation factors — 5-year guarantee period — pension not indexed
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 5-year guarantee period; and
	(b)	is not indexed.

Member’s retirement age	Pension valuation factors
5-year guarantee period — pension not indexed	
	Male	Female	
55	12.1315	12.9696	
56	11.9499	12.8204	
57	11.7625	12.6651	
58	11.5694	12.5032	
59	11.3710	12.3346	
60	11.1674	12.1591	
61	10.9591	11.9766	
62	10.7465	11.7870	
63	10.5298	11.5903	
64	10.3097	11.3867	
65	10.0866	11.1761	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
5-year guarantee period — pension not indexed	
	Male	Female	
Up to 40	1.539	0.662	
41	1.488	0.623	
42	1.436	0.583	
43	1.385	0.543	
44	1.334	0.503	
45	1.283	0.464	
46	1.231	0.424	
47	1.180	0.384	
48	1.129	0.344	
49	1.077	0.305	
50	1.026	0.265	
51	0.872	0.225	
52	0.718	0.185	
53	0.564	0.146	
54	0.410	0.106	
55 and over	0.257	0.066	
14	Valuation factors — 5-year guarantee period — CPI indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 5-year guarantee period; and
	(b)	is indexed in accordance with the consumer price index.

Member’s retirement age	Pension valuation factors
5-year guarantee period — CPI indexed pension	
	Male	Female	
55	15.8066	17.3207	
56	15.4846	17.0304	
57	15.1573	16.7331	
58	14.8253	16.4286	
59	14.4889	16.1170	
60	14.1488	15.7981	
61	13.8057	15.4722	
62	13.4602	15.1392	
63	13.1129	14.7996	
64	12.7646	14.4537	
65	12.4160	14.1017	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
5-year guarantee period — CPI indexed pension	
	Male	Female	
Up to 40	2.685	1.159	
41	2.595	1.090	
42	2.506	1.020	
43	2.416	0.950	
44	2.327	0.881	
45	2.237	0.811	
46	2.148	0.742	
47	2.058	0.672	
48	1.969	0.603	
49	1.879	0.533	
50	1.790	0.464	
51	1.521	0.394	
52	1.253	0.325	
53	0.984	0.255	
54	0.716	0.185	
55 and over	0.447	0.116	
15	Valuation factors — 5-year guarantee period — CPI indexed pension plus 1%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 5-year guarantee period; and
	(b)	is indexed in accordance with the consumer price index plus 1%.

Member’s retirement age	Pension valuation factors
5-year guarantee period
CPI indexed pension plus 1%	
	Male	Female	
55	17.7689	19.7060	
56	17.3598	19.3230	
57	16.9467	18.9337	
58	16.5303	18.5379	
59	16.1111	18.1357	
60	15.6900	17.7273	
61	15.2677	17.3127	
62	14.8450	16.8924	
63	14.4226	16.4666	
64	14.0013	16.0359	
65	13.5820	15.6008	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
5-year guarantee period
CPI indexed pension plus 1%	
	Male	Female	
Up to 40	3.391	1.467	
41	3.278	1.379	
42	3.165	1.291	
43	3.052	1.203	
44	2.939	1.115	
45	2.826	1.027	
46	2.713	0.939	
47	2.600	0.851	
48	2.487	0.763	
49	2.374	0.675	
50	2.261	0.587	
51	1.922	0.499	
52	1.583	0.411	
53	1.243	0.323	
54	0.904	0.235	
55 and over	0.565	0.147	
16	Valuation factors — 5-year guarantee period — CPI indexed pension plus 1% with 5% cap
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 5-year guarantee period; and
	(b)	is indexed in accordance with the consumer price index plus 1% with a cap of 5%.

Member’s retirement age	Pension valuation factors
5-year guarantee period
CPI indexed pension plus 1% with 5% cap	
	Male	Female	
55	17.3484	19.1916	
56	16.9586	18.8294	
57	16.5645	18.4606	
58	16.1666	18.0852	
59	15.7657	17.7032	
60	15.3624	17.3147	
61	14.9574	16.9197	
62	14.5515	16.5186	
63	14.1455	16.1118	
64	13.7400	15.6998	
65	13.3360	15.2828	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
5-year guarantee period
CPI indexed pension plus 1% with 5% cap	
	Male	Female	
Up to 40	3.235	1.399	
41	3.127	1.315	
42	3.019	1.231	
43	2.911	1.147	
44	2.803	1.063	
45	2.696	0.979	
46	2.588	0.895	
47	2.480	0.811	
48	2.372	0.727	
49	2.264	0.643	
50	2.157	0.559	
51	1.833	0.476	
52	1.510	0.392	
53	1.186	0.308	
54	0.863	0.224	
55 and over	0.539	0.140	
17	Valuation factors — 5-year guarantee period — wage indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 5-year guarantee period; and
	(b)	is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).

Member’s retirement age	Pension valuation factors
5-year guarantee period — wage indexed pension	
	Male	Female	
55	18.8886	21.0840	
56	18.4263	20.6431	
57	17.9613	20.1966	
58	17.4940	19.7445	
59	17.0252	19.2868	
60	16.5558	18.8237	
61	16.0865	18.3554	
62	15.6182	17.8823	
63	15.1515	17.4048	
64	14.6876	16.9236	
65	14.2271	16.4390	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
5-year guarantee period — wage indexed pension	
	Male	Female	
Up to 40	3.821	1.654	
41	3.693	1.555	
42	3.566	1.456	
43	3.439	1.357	
44	3.311	1.257	
45	3.184	1.158	
46	3.057	1.059	
47	2.929	0.960	
48	2.802	0.860	
49	2.674	0.761	
50	2.547	0.662	
51	2.165	0.563	
52	1.783	0.463	
53	1.401	0.364	
54	1.019	0.265	
55 and over	0.637	0.165	
18	Valuation factors — 5-year guarantee period — pension indexed at 3%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 5-year guarantee period; and
	(b)	is indexed at 3%.

Member’s retirement age	Pension valuation factors
5-year guarantee period — pension indexed at 3%	
	Male	Female	
55	16.7449	18.4563	
56	16.3822	18.1231	
57	16.0147	17.7831	
58	15.6431	17.4362	
59	15.2678	17.0824	
60	14.8897	16.7217	
61	14.5093	16.3543	
62	14.1273	15.9804	
63	13.7445	15.6004	
64	13.3616	15.2146	
65	12.9794	14.8234	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
5-year guarantee period — pension indexed at 3%	
	Male	Female	
Up to 40	3.015	1.303	
41	2.914	1.225	
42	2.814	1.147	
43	2.713	1.068	
44	2.613	0.990	
45	2.512	0.912	
46	2.412	0.834	
47	2.311	0.756	
48	2.211	0.677	
49	2.110	0.599	
50	2.010	0.521	
51	1.708	0.443	
52	1.407	0.365	
53	1.105	0.287	
54	0.804	0.208	
55 and over	0.502	0.130	
19	Valuation factors — 5-year guarantee period — pension indexed at 5%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 5-year guarantee period; and
	(b)	is indexed at 5%.

Member’s retirement age	Pension valuation factors
5-year guarantee period — pension indexed at 5%	
	Male	Female	
55	21.4599	24.2910	
56	20.8675	23.7045	
57	20.2756	23.1151	
58	19.6850	22.5228	
59	19.0964	21.9279	
60	18.5109	21.3304	
61	17.9294	20.7309	
62	17.3527	20.1297	
63	16.7816	19.5275	
64	16.2172	18.9248	
65	15.6603	18.3224	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
5-year guarantee period — pension indexed at 5%	
	Male	Female	
Up to 40	4.873	2.115	
41	4.710	1.988	
42	4.548	1.861	
43	4.385	1.734	
44	4.223	1.607	
45	4.061	1.480	
46	3.898	1.354	
47	3.736	1.227	
48	3.573	1.100	
49	3.411	0.973	
50	3.249	0.846	
51	2.761	0.719	
52	2.274	0.592	
53	1.787	0.465	
54	1.299	0.338	
55 and over	0.812	0.211	
20	Valuation factors — 10-year guarantee period — pension not indexed
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 10-year guarantee period; and
	(b)	is not indexed.

Member’s retirement age	Pension valuation factors
10-year guarantee period — pension not indexed	
	Male	Female	
55	12.2909	13.0621	
56	12.1271	12.9219	
57	11.9595	12.7762	
58	11.7882	12.6251	
59	11.6138	12.4684	
60	11.4366	12.3062	
61	11.2571	12.1385	
62	11.0757	11.9655	
63	10.8928	11.7872	
64	10.7090	11.6040	
65	10.5246	11.4161	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
10-year guarantee period — pension not indexed	
	Male	Female	
Up to 40	1.369	0.596	
41	1.323	0.560	
42	1.278	0.525	
43	1.232	0.489	
44	1.187	0.453	
45	1.141	0.417	
46	1.095	0.382	
47	1.050	0.346	
48	1.004	0.310	
49	0.958	0.274	
50	0.913	0.239	
51	0.776	0.203	
52	0.639	0.167	
53	0.502	0.131	
54	0.365	0.095	
55 and over	0.228	0.060	
21	Valuation factors — 10-year guarantee period — CPI indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 10-year guarantee period; and
	(b)	is indexed in accordance with the consumer price index.

Member’s retirement age	Pension valuation factors
10-year guarantee period — CPI indexed pension	
	Male	Female	
55	15.9998	17.4328	
56	15.6993	17.1533	
57	15.3960	16.8677	
58	15.0903	16.5763	
59	14.7830	16.2791	
60	14.4749	15.9764	
61	14.1666	15.6684	
62	13.8589	15.3555	
63	13.5525	15.0382	
64	13.2481	14.7170	
65	12.9464	14.3924	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
10-year guarantee period — CPI indexed pension	
	Male	Female	
Up to 40	2.482	1.083	
41	2.399	1.018	
42	2.317	0.953	
43	2.234	0.888	
44	2.151	0.823	
45	2.068	0.758	
46	1.986	0.693	
47	1.903	0.628	
48	1.820	0.563	
49	1.737	0.498	
50	1.655	0.433	
51	1.406	0.368	
52	1.158	0.303	
53	0.910	0.238	
54	0.662	0.173	
55 and over	0.414	0.108	
22	Valuation factors — 10-year guarantee period — CPI indexed pension plus 1%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 10-year guarantee period; and
	(b)	is indexed in accordance with the consumer price index plus 1%.

Member’s retirement age	Pension valuation factors
10-year guarantee period
CPI indexed pension plus 1%	
	Male	Female	
55	17.9774	19.8270	
56	17.5915	19.4555	
57	17.2041	19.0789	
58	16.8162	18.6971	
59	16.4284	18.3106	
60	16.0417	17.9195	
61	15.6570	17.5244	
62	15.2751	17.1256	
63	14.8967	16.7239	
64	14.5228	16.3199	
65	14.1540	15.9144	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
10-year guarantee period
CPI indexed pension plus 1%	
	Male	Female	
Up to 40	3.175	1.387	
41	3.069	1.303	
42	2.963	1.220	
43	2.857	1.137	
44	2.752	1.054	
45	2.646	0.971	
46	2.540	0.887	
47	2.434	0.804	
48	2.328	0.721	
49	2.222	0.638	
50	2.117	0.555	
51	1.799	0.471	
52	1.482	0.388	
53	1.164	0.305	
54	0.847	0.222	
55 and over	0.529	0.139	
23	Valuation factors — 10-year guarantee period — CPI indexed pension plus 1% with 5% cap
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 10-year guarantee period; and
	(b)	is indexed in accordance with the consumer price index plus 1% with a cap of 5%.

Member’s retirement age	Pension valuation factors
10-year guarantee period
CPI indexed pension plus 1% with 5% cap	
	Male	Female	
55	17.5537	19.3107	
56	17.1868	18.9599	
57	16.8181	18.6037	
58	16.4483	18.2421	
59	16.0783	17.8755	
60	15.7088	17.5040	
61	15.3409	17.1282	
62	14.9752	16.7484	
63	14.6125	16.3653	
64	14.2537	15.9795	
65	13.8995	15.5917	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
10-year guarantee period
CPI indexed pension plus 1% with 5% cap	
	Male	Female	
Up to 40	3.021	1.319	
41	2.920	1.240	
42	2.820	1.161	
43	2.719	1.082	
44	2.618	1.002	
45	2.518	0.923	
46	2.417	0.844	
47	2.316	0.765	
48	2.215	0.686	
49	2.115	0.607	
50	2.014	0.528	
51	1.712	0.448	
52	1.410	0.369	
53	1.108	0.290	
54	0.806	0.211	
55 and over	0.504	0.132	
24	Valuation factors — 10-year guarantee period — wage indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 10-year guarantee period; and
	(b)	is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).

Member’s retirement age	Pension valuation factors
10-year guarantee period — wage indexed pension	
	Male	Female	
55	19.1050	21.2096	
56	18.6669	20.7807	
57	18.2286	20.3474	
58	17.7909	19.9099	
59	17.3547	19.4684	
60	16.9210	19.0233	
61	16.4907	18.5752	
62	16.0647	18.1245	
63	15.6439	17.6720	
64	15.2290	17.2185	
65	14.8210	16.7647	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
10-year guarantee period — wage indexed pension	
	Male	Female	
Up to 40	3.597	1.572	
41	3.477	1.478	
42	3.357	1.383	
43	3.237	1.289	
44	3.118	1.195	
45	2.998	1.100	
46	2.878	1.006	
47	2.758	0.912	
48	2.638	0.817	
49	2.518	0.723	
50	2.398	0.629	
51	2.038	0.535	
52	1.679	0.440	
53	1.319	0.346	
54	0.959	0.252	
55 and over	0.600	0.157	
25	Valuation factors — 10-year guarantee period — pension indexed at 3%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 10-year guarantee period; and
	(b)	is indexed at 3%.

Member’s retirement age	Pension valuation factors
10-year guarantee period — pension indexed at 3%	
	Male	Female	
55	16.9455	18.5728	
56	16.6052	18.2507	
57	16.2626	17.9229	
58	15.9184	17.5895	
59	15.5734	17.2508	
60	15.2284	16.9068	
61	14.8841	16.5581	
62	14.5414	16.2050	
63	14.2010	15.8481	
64	13.8637	15.4880	
65	13.5303	15.1254	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
10-year guarantee period — pension indexed at 3%	
	Male	Female	
Up to 40	2.805	1.224	
41	2.712	1.151	
42	2.618	1.077	
43	2.525	1.004	
44	2.431	0.931	
45	2.338	0.857	
46	2.244	0.784	
47	2.151	0.710	
48	2.057	0.637	
49	1.964	0.563	
50	1.870	0.490	
51	1.590	0.416	
52	1.309	0.343	
53	1.029	0.269	
54	0.748	0.196	
55 and over	0.468	0.122	
26	Valuation factors — 10-year guarantee period — pension indexed at 5%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension:
	(a)	has a 10-year guarantee period; and
	(b)	is indexed at 5%.

Member’s retirement age	Pension valuation factors
10-year guarantee period — pension indexed at 5%	
	Male	Female	
55	21.6932	24.4263	
56	21.1268	23.8528	
57	20.5638	23.2776	
58	20.0050	22.7011	
59	19.4516	22.1236	
60	18.9046	21.5456	
61	18.3651	20.9678	
62	17.8340	20.3908	
63	17.3122	19.8154	
64	16.8007	19.2427	
65	16.3004	18.6734	

Member’s age at relevant date
(in completed years)	Reversion valuation factors
10-year guarantee period — pension indexed at 5%	
	Male	Female	
Up to 40	4.635	2.029	
41	4.481	1.907	
42	4.326	1.785	
43	4.172	1.664	
44	4.017	1.542	
45	3.863	1.420	
46	3.708	1.298	
47	3.554	1.177	
48	3.399	1.055	
49	3.245	0.933	
50	3.090	0.812	
51	2.627	0.690	
52	2.163	0.568	
53	1.700	0.446	
54	1.236	0.325	
55 and over	0.773	0.203	
Part 4	Method — benefit payable as combination of lump sum and pension
27	Application of Part 4
		This Part sets out the method for determining the gross value, at the relevant date, of a defined benefit interest, if the benefit in respect of the interest is payable as a combination of a lump sum and a pension.
28	Method — no restriction on combination of lump sum and pension that may be taken
	(1)	This clause applies if there is no provision in the eligible superannuation plan in which the interest is held restricting the proportion of the interest that may be taken as a lump sum or as a pension.
Note   The method is based on the assumption that 50% of the interest will be taken as a lump sum and 50% of the interest will be taken as a pension.
	(2)	The method is:

		where:
PVls is the present value of the lump sum that would apply if the whole benefit could, and were to, be taken as a lump sum, calculated using the method set out in Part 2 of this Schedule.
PVp is the present value of the pension that would apply if the whole benefit could, and were to, be taken as a pension, calculated using the method set out in Part 3 of this Schedule.
29	Method — restriction on maximum amount of lump sum that may be taken
	(1)	This clause applies if the eligible superannuation plan provides that a specific proportion only of the interest may be taken as a lump sum.
	(2)	If the proportion specified is 50% or more, the method is the method set out in clause 28 of this Schedule.
	(3)	If the proportion specified is less than 50%, the method is:

		where:
Maxls% is the maximum possible lump sum expressed as a percentage of the total value of the interest, provided by the trustee under section 90MZB of the Act.
PVls is the present value of the lump sum that would apply if the whole benefit could, and were to, be taken as a lump sum, calculated using the method set out in Part 2 of this Schedule.
PVp is the present value of the pension that would apply if the whole benefit could, and were, to be taken as a pension, calculated using the method set out in Part 3 of this Schedule.
30	Conversion of accrued benefit multiple
	(1)	For the purpose of calculating the value of PVls under subclause 28 (2) or 29 (3) of this Schedule, if the accrued benefit multiple provided by the trustee under section 90MZB of the Act is expressed as a pension multiple, the multiple must be converted to a lump sum multiple using the commutation factor provided by the trustee under that section.
	(2)	For the purpose of calculating the value of PVp under subclause 28 (2) or 29 (3) of this Schedule, if the accrued benefit multiple provided by the trustee under section 90MZB of the Act is expressed as a lump sum multiple, the multiple must be converted to a pension multiple using the conversion factor provided by the trustee under that section.

Schedule 3	Method for determining gross value of partially vested accumulation interest
(regulation 32)
  
1	Application of Schedule 3
		This Schedule sets out the method for determining the gross value, at the relevant date, of a partially vested accumulation interest that is in the growth phase at that date.
2	Method
	(1)	The method is:

where:
V is the value, at the relevant date, of the actual vested benefit in respect of the interest, determined in accordance with clause 3.
A is the amount that would be the total amount standing to the credit of the member spouse in respect of the interest if the benefit in respect of the interest were fully vested at the relevant date.
fy+m is the vesting factor at the relevant date calculated in accordance with subclause (2).
	(2)	For subclause (1), the vesting factor (fy+m) at the relevant date is:

		where:
fy is the vesting factor mentioned in clause 4 of this Schedule that applies to the relevant vesting period and the length of the member spouse’s membership in the plan in completed years at the relevant date.
m is the number of completed months of the member spouse’s membership in the plan at the relevant date that are not included in the completed years of membership at that date.
fy+1 is the vesting factor mentioned in clause 4 of this Schedule that applies to the relevant vesting period and the length of the member spouse’s membership in the plan at the completion of the next year after the year mentioned in the definition of the factor fy.
3	Actual vested benefit
	(1)	For subclause 2 (1), this clause sets out how to determine the value, at the relevant date, of the actual vested benefit (V) in respect of a partially vested accumulation interest.
	(2)	If a member information statement that states the value of the interest at the relevant date has been provided to the member spouse, the value, at the relevant date, of the actual vested benefit in respect of the interest is the value stated in the statement.
	(3)	If subclause (2) does not apply, the value, at the relevant date, of the actual vested benefit in respect of the interest is:

where:
V1 is the sum of:
	(a)	the value of the interest at the first valuation date; and
	(b)	the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan) in the period between the first valuation date and the relevant date (excluding both those dates), less the value of any partial payment of benefits to the member made in that period.
V2 is the sum of:
	(a)	the value of the interest at the second valuation date; and
	(b)	the value of any partial payment of benefits made to the member in the period between the relevant date and the second valuation date (excluding both those dates), less the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan), and any interest earned on those benefits, in that period.
X is the number of days in the period between the first valuation date and the relevant date (excluding both those dates).
D is the number of days in the period beginning on the first valuation date and ending at the end of the day before the second valuation date.
	(4)	For the purpose of determining the value of the actual vested benefit under subclause (3), the first valuation date and the second valuation date, in relation to the interest, are as follows:
	(a)	if at least one member information statement in relation to the interest has been provided to the member spouse, and the relevant date is after the valuation date stated in the most recent statement:
	(i)	the first valuation date is the valuation date stated in the most recent statement; and
	(ii)	the second valuation date is the date when the valuation of the interest is being carried out;
	(b)	if 2 or more member information statements in relation to the interest have been provided to the member spouse, and the relevant date is between the valuation date stated in one statement (the earlier statement) and the valuation date stated in the next statement (the next statement):
	(i)	the first valuation date is the valuation date stated in the earlier statement; and
	(ii)	the second valuation date is the valuation date stated in the next statement;
	(c)	if at least one member information statement in relation to the interest has been provided to the member spouse, and the relevant date is before the valuation date stated in the first statement (the first statement):
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the second valuation date is the valuation date stated in the first statement;
	(d)	if no member information statement in relation to the interest has been provided to the member spouse:
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the second valuation date is the date when the valuation of the interest is being carried out.
	(5)	In this clause:
valuation date, in relation to a superannuation interest to which a member information statement applies, means the date as at which the value of the interest is stated in the statement.
4	Vesting factors
		This clause sets out the vesting factors.

Length of membership (in completed years)	Vesting factors	
	5 year vesting period	7 year vesting period	10 year vesting period	15 year vesting period	20 year vesting period	
0	0.71	0.66	0.60	0.52	0.47	
1	0.77	0.72	0.65	0.57	0.52	
2	0.83	0.77	0.70	0.62	0.56	
3	0.88	0.82	0.75	0.66	0.60	
4	0.93	0.86	0.79	0.70	0.63	
5	1.00	0.90	0.82	0.72	0.66	
6		0.93	0.85	0.75	0.69	
7		1.00	0.88	0.78	0.71	
8			0.91	0.81	0.74	
9			0.94	0.84	0.77	
10			1.00	0.86	0.79	
11				0.89	0.82	
12				0.91	0.84	
13				0.94	0.87	
14				0.96	0.89	
15				1.00	0.91	
16					0.93	
17					0.95	
18					0.96	
19					0.98	
20					1.00	

Schedule 4	Method for determining gross value of superannuation interest payable as life pension
(subregulation 42 (2))
  
1	Application of Schedule 4
		This Schedule sets out the method for determining the gross value, at the relevant date, of a superannuation interest that is in the payment phase at the relevant date, if the benefits in respect of the interest are payable as a pension for the life of the member spouse.
2	Method
	(1)	The method is:

where:
B is the amount of the annual pension benefit payable in respect of the superannuation interest at the relevant date.
Py+m is the pension valuation factor calculated in accordance with subclause (2).
r is the proportion of the pension that is payable to any surviving spouse of the member spouse on the death of the member spouse, as provided by the trustee under section 90MZB of the Act.
Ry+m is the reversion valuation factor calculated in accordance with subclause (3).
	(2)	For subclause (1), the pension valuation factor (Py+m) at the relevant date is:

		where:
Py is the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse’s age in completed years at the relevant date.
m is the number of completed months of the member spouse’s age that are not included in the completed years at the relevant date.
Py+1 is the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse’s age at the completion of the next year after the year mentioned in the definition of the factor Py.
	(3)	For subclause (1), the reversion valuation factor (Ry+m) at the relevant date is:

		where:
Ry is the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse’s age in completed years at the relevant date.
m is the number of completed months of the member spouse’s age that are not included in the completed years at the relevant date.
Ry+1 is the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse’s age at the completion of the next year after the year mentioned in the definition of the factor Ry.
3	Valuation factors — pension not indexed
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is not indexed.

Age at relevant date (in completed years)	Valuation factors — pension not indexed	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
35	14.5162	0.5413	14.8774	0.2349	
36	14.4453	0.5662	14.8204	0.2465	
37	14.3702	0.5926	14.7602	0.2586	
38	14.2906	0.6205	14.6966	0.2713	
39	14.2065	0.6497	14.6293	0.2846	
40	14.1175	0.6806	14.5583	0.2986	
41	14.0234	0.6894	14.4833	0.2943	
42	13.9240	0.6976	14.4042	0.2889	
43	13.8191	0.7050	14.3208	0.2822	
44	13.7085	0.7115	14.2332	0.2740	
45	13.5919	0.7170	14.1410	0.2642	
46	13.4693	0.7212	14.0442	0.2528	
47	13.3404	0.7240	13.9425	0.2396	
48	13.2052	0.7252	13.8358	0.2245	
49	13.0637	0.7245	13.7240	0.2074	
50	12.9156	0.7218	13.6069	0.1882	
51	12.7609	0.6413	13.4844	0.1668	
52	12.5997	0.5517	13.3562	0.1431	
53	12.4319	0.4524	13.2223	0.1171	
54	12.2575	0.3430	13.0824	0.0885	
55	12.0764	0.2233	12.9364	0.0575	
56	11.8886	0.2324	12.7841	0.0597	
57	11.6943	0.2416	12.6252	0.0619	
58	11.4934	0.2508	12.4596	0.0642	
59	11.2862	0.2601	12.2869	0.0665	
60	11.0730	0.2694	12.1068	0.0688	
61	10.8540	0.2785	11.9191	0.0711	
62	10.6295	0.2876	11.7238	0.0735	
63	10.3997	0.2965	11.5207	0.0759	
64	10.1653	0.3051	11.3099	0.0783	
65	9.9265	0.3134	11.0912	0.0807	
66	9.6836	0.3214	10.8648	0.0831	
67	9.4371	0.3289	10.6307	0.0854	
68	9.1873	0.3360	10.3891	0.0878	
69	8.9346	0.3426	10.1400	0.0901	
70	8.6790	0.3487	9.8836	0.0923	
71	8.4207	0.3542	9.6200	0.0945	
72	8.1596	0.3592	9.3492	0.0966	
73	7.8955	0.3636	9.0714	0.0987	
74	7.6282	0.3675	8.7870	0.1008	
75	7.3582	0.3708	8.4969	0.1027	
76	7.0868	0.3735	8.2023	0.1046	
77	6.8161	0.3753	7.9050	0.1063	
78	6.5477	0.3763	7.6066	0.1079	
79	6.2834	0.3763	7.3091	0.1094	
80	6.0247	0.3752	7.0137	0.1106	
81	5.7729	0.3732	6.7207	0.1117	
82	5.5290	0.3701	6.4300	0.1127	
83	5.2943	0.3660	6.1420	0.1136	
84	5.0695	0.3609	5.8578	0.1144	
85	4.8558	0.3549	5.5791	0.1151	
86	4.6542	0.3480	5.3083	0.1156	
87	4.4657	0.3403	5.0483	0.1160	
88	4.2918	0.3319	4.8023	0.1162	
89	4.1345	0.3228	4.5724	0.1160	
90	3.9956	0.3132	4.3599	0.1154	
91	3.8770	0.3031	4.1650	0.1144	
92	3.7753	0.2927	3.9868	0.1129	
93	3.6821	0.2824	3.8227	0.1111	
94	3.5907	0.2723	3.6698	0.1087	
95	3.4995	0.2623	3.5264	0.1059	
96	3.4092	0.2522	3.3917	0.1026	
97	3.3182	0.2417	3.2650	0.0986	
98	3.2257	0.2306	3.1450	0.0938	
99	3.1314	0.2184	3.0302	0.0880	
4	Valuation factors — CPI indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index.

Age at relevant date (in completed years)	Valuation factors — CPI indexed pension	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
35	20.7996	1.4439	21.7104	0.6222	
36	20.6166	1.4862	21.5498	0.6414	
37	20.4270	1.5299	21.3835	0.6612	
38	20.2306	1.5751	21.2114	0.6816	
39	20.0272	1.6216	21.0333	0.7024	
40	19.8166	1.6695	20.8490	0.7238	
41	19.5986	1.6616	20.6583	0.7009	
42	19.3731	1.6518	20.4613	0.6758	
43	19.1400	1.6398	20.2578	0.6484	
44	18.8991	1.6254	20.0478	0.6185	
45	18.6505	1.6086	19.8312	0.5861	
46	18.3939	1.5890	19.6078	0.5510	
47	18.1296	1.5665	19.3776	0.5133	
48	17.8574	1.5409	19.1406	0.4727	
49	17.5777	1.5119	18.8966	0.4293	
50	17.2903	1.4794	18.6457	0.3831	
51	16.9956	1.2912	18.3877	0.3339	
52	16.6938	1.0912	18.1227	0.2818	
53	16.3849	0.8792	17.8505	0.2267	
54	16.0692	0.6552	17.5712	0.1688	
55	15.7468	0.4193	17.2848	0.1079	
56	15.4181	0.4289	16.9910	0.1102	
57	15.0833	0.4384	16.6899	0.1126	
58	14.7428	0.4477	16.3814	0.1149	
59	14.3970	0.4566	16.0652	0.1172	
60	14.0464	0.4653	15.7414	0.1194	
61	13.6917	0.4735	15.4099	0.1216	
62	13.3333	0.4812	15.0707	0.1238	
63	12.9718	0.4884	14.7241	0.1259	
64	12.6079	0.4951	14.3703	0.1279	
65	12.2423	0.5010	14.0096	0.1299	
66	11.8755	0.5063	13.6422	0.1318	
67	11.5080	0.5108	13.2686	0.1336	
68	11.1405	0.5145	12.8892	0.1353	
69	10.7733	0.5174	12.5043	0.1369	
70	10.4067	0.5194	12.1143	0.1384	
71	10.0409	0.5206	11.7197	0.1397	
72	9.6758	0.5210	11.3208	0.1410	
73	9.3113	0.5206	10.9178	0.1421	
74	8.9474	0.5195	10.5116	0.1431	
75	8.5846	0.5175	10.1036	0.1440	
76	8.2247	0.5147	9.6952	0.1447	
77	7.8698	0.5109	9.2887	0.1453	
78	7.5222	0.5062	8.8861	0.1457	
79	7.1835	0.5003	8.4896	0.1459	
80	6.8553	0.4933	8.1006	0.1458	
81	6.5389	0.4853	7.7193	0.1457	
82	6.2355	0.4763	7.3456	0.1454	
83	5.9460	0.4663	6.9796	0.1449	
84	5.6712	0.4553	6.6226	0.1444	
85	5.4120	0.4436	6.2766	0.1438	
86	5.1692	0.4311	5.9438	0.1431	
87	4.9438	0.4181	5.6273	0.1422	
88	4.7372	0.4045	5.3303	0.1411	
89	4.5509	0.3906	5.0548	0.1396	
90	4.3867	0.3764	4.8017	0.1377	
91	4.2463	0.3620	4.5707	0.1354	
92	4.1253	0.3475	4.3603	0.1327	
93	4.0141	0.3333	4.1673	0.1294	
94	3.9054	0.3196	3.9883	0.1258	
95	3.7971	0.3060	3.8209	0.1216	
96	3.6902	0.2925	3.6644	0.1168	
97	3.5828	0.2786	3.5174	0.1114	
98	3.4738	0.2640	3.3785	0.1051	
99	3.3630	0.2482	3.2459	0.0977	
5	Valuation factors — CPI indexed pension plus 1%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index plus 1%.

Age at relevant date (in completed years)	Valuation factors — CPI indexed pension plus 1%	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
35	24.5986	2.1955	25.9499	0.9445	
36	24.3262	2.2429	25.7013	0.9661	
37	24.0464	2.2915	25.4463	0.9882	
38	23.7591	2.3411	25.1845	1.0106	
39	23.4643	2.3918	24.9159	1.0333	
40	23.1617	2.4436	24.6405	1.0565	
41	22.8512	2.4133	24.3580	1.0151	
42	22.5327	2.3803	24.0686	0.9711	
43	22.2064	2.3446	23.7720	0.9245	
44	21.8720	2.3059	23.4686	0.8751	
45	21.5297	2.2642	23.1581	0.8229	
46	21.1795	2.2192	22.8406	0.7678	
47	20.8215	2.1707	22.5159	0.7098	
48	20.4559	2.1186	22.1843	0.6489	
49	20.0831	2.0627	21.8457	0.5850	
50	19.7030	2.0028	21.5001	0.5181	
51	19.3162	1.7347	21.1476	0.4483	
52	18.9230	1.4549	20.7881	0.3756	
53	18.5235	1.1634	20.4218	0.3001	
54	18.1182	0.8606	20.0487	0.2218	
55	17.7072	0.5467	19.6689	0.1408	
56	17.2911	0.5552	19.2823	0.1429	
57	16.8702	0.5634	18.8890	0.1449	
58	16.4451	0.5711	18.4890	0.1469	
59	16.0162	0.5785	18.0823	0.1488	
60	15.5842	0.5853	17.6687	0.1506	
61	15.1500	0.5916	17.2484	0.1524	
62	14.7139	0.5973	16.8216	0.1541	
63	14.2768	0.6022	16.3886	0.1557	
64	13.8395	0.6064	15.9499	0.1572	
65	13.4026	0.6098	15.5057	0.1587	
66	12.9668	0.6124	15.0564	0.1600	
67	12.5327	0.6140	14.6027	0.1611	
68	12.1009	0.6147	14.1451	0.1622	
69	11.6719	0.6145	13.6841	0.1631	
70	11.2460	0.6134	13.2201	0.1639	
71	10.8233	0.6113	12.7537	0.1645	
72	10.4037	0.6083	12.2852	0.1650	
73	9.9871	0.6045	11.8151	0.1654	
74	9.5735	0.5998	11.3444	0.1656	
75	9.1635	0.5944	10.8745	0.1657	
76	8.7588	0.5880	10.4070	0.1656	
77	8.3619	0.5807	9.9443	0.1654	
78	7.9748	0.5723	9.4886	0.1650	
79	7.5995	0.5629	9.0422	0.1643	
80	7.2373	0.5525	8.6064	0.1635	
81	6.8897	0.5410	8.1814	0.1625	
82	6.5576	0.5286	7.7669	0.1614	
83	6.2419	0.5153	7.3629	0.1603	
84	5.9432	0.5011	6.9709	0.1590	
85	5.6625	0.4863	6.5925	0.1576	
86	5.4003	0.4709	6.2302	0.1562	
87	5.1576	0.4551	5.8871	0.1546	
88	4.9356	0.4389	5.5661	0.1527	
89	4.7358	0.4225	5.2694	0.1506	
90	4.5599	0.4059	4.9973	0.1480	
91	4.4093	0.3893	4.7496	0.1450	
92	4.2792	0.3728	4.5244	0.1416	
93	4.1597	0.3567	4.3181	0.1378	
94	4.0428	0.3411	4.1271	0.1334	
95	3.9267	0.3259	3.9489	0.1286	
96	3.8121	0.3106	3.7823	0.1231	
97	3.6971	0.2951	3.6262	0.1170	
98	3.5806	0.2789	3.4787	0.1100	
99	3.4623	0.2614	3.3381	0.1019	
6	Valuation factors — CPI indexed pension plus 1% with 5% cap
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index plus 1% with a cap of 5%.

Age at relevant date (in completed years)	Valuation factors
CPI indexed pension plus 1% with 5% cap	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
35	23.7582	2.0168	25.0058	0.8679	
36	23.5069	2.0636	24.7782	0.8892	
37	23.2483	2.1115	24.5443	0.9109	
38	22.9822	2.1606	24.3038	0.9330	
39	22.7087	2.2109	24.0566	0.9556	
40	22.4275	2.2623	23.8026	0.9785	
41	22.1384	2.2377	23.5418	0.9417	
42	21.8414	2.2107	23.2739	0.9024	
43	21.5365	2.1810	22.9991	0.8604	
44	21.2236	2.1484	22.7174	0.8157	
45	20.9027	2.1129	22.4287	0.7682	
46	20.5738	2.0742	22.1330	0.7179	
47	20.2371	2.0321	21.8301	0.6647	
48	19.8927	1.9865	21.5202	0.6085	
49	19.5409	1.9371	21.2033	0.5494	
50	19.1818	1.8838	20.8794	0.4874	
51	18.8157	1.6341	20.5484	0.4223	
52	18.4430	1.3726	20.2103	0.3544	
53	18.0637	1.0994	19.8654	0.2835	
54	17.6783	0.8144	19.5135	0.2098	
55	17.2871	0.5181	19.1547	0.1334	
56	16.8903	0.5270	18.7889	0.1356	
57	16.4885	0.5355	18.4163	0.1377	
58	16.0820	0.5437	18.0367	0.1397	
59	15.6714	0.5515	17.6501	0.1418	
60	15.2573	0.5588	17.2564	0.1437	
61	14.8404	0.5656	16.8558	0.1456	
62	14.4213	0.5717	16.4483	0.1474	
63	14.0007	0.5773	16.0344	0.1492	
64	13.5793	0.5821	15.6143	0.1508	
65	13.1579	0.5861	15.1883	0.1524	
66	12.7369	0.5893	14.7569	0.1538	
67	12.3172	0.5916	14.3207	0.1552	
68	11.8992	0.5930	13.8800	0.1564	
69	11.4835	0.5935	13.4354	0.1574	
70	11.0702	0.5931	12.9874	0.1584	
71	10.6597	0.5918	12.5365	0.1592	
72	10.2517	0.5896	12.0829	0.1598	
73	9.8462	0.5865	11.6272	0.1604	
74	9.4431	0.5827	11.1703	0.1608	
75	9.0431	0.5780	10.7135	0.1611	
76	8.6479	0.5724	10.2587	0.1612	
77	8.2598	0.5659	9.8079	0.1611	
78	7.8811	0.5583	9.3634	0.1609	
79	7.5134	0.5497	8.9275	0.1604	
80	7.1584	0.5400	8.5016	0.1598	
81	6.8173	0.5293	8.0858	0.1590	
82	6.4912	0.5176	7.6798	0.1581	
83	6.1809	0.5050	7.2838	0.1571	
84	5.8872	0.4916	6.8991	0.1560	
85	5.6110	0.4774	6.5275	0.1548	
86	5.3528	0.4626	6.1713	0.1535	
87	5.1137	0.4474	5.8337	0.1520	
88	4.8949	0.4317	5.5177	0.1503	
89	4.6979	0.4158	5.2254	0.1483	
90	4.5245	0.3998	4.9572	0.1459	
91	4.3759	0.3836	4.7130	0.1431	
92	4.2477	0.3675	4.4908	0.1398	
93	4.1300	0.3519	4.2873	0.1360	
94	4.0148	0.3367	4.0988	0.1318	
95	3.9003	0.3218	3.9228	0.1271	
96	3.7873	0.3069	3.7583	0.1218	
97	3.6738	0.2917	3.6041	0.1158	
98	3.5588	0.2758	3.4584	0.1090	
99	3.4421	0.2587	3.3193	0.1011	
7	Valuation factors — wage indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).

Age at relevant date (in completed years)	Valuation factors — wage indexed pension	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
35	26.9057	2.7205	28.5590	1.1698	
36	26.5721	2.7684	28.2486	1.1917	
37	26.2311	2.8172	27.9314	1.2140	
38	25.8824	2.8669	27.6073	1.2365	
39	25.5262	2.9173	27.2764	1.2593	
40	25.1622	2.9686	26.9383	1.2822	
41	24.7903	2.9200	26.5933	1.2271	
42	24.4106	2.8686	26.2411	1.1692	
43	24.0231	2.8142	25.8820	1.1087	
44	23.6279	2.7567	25.5159	1.0453	
45	23.2249	2.6960	25.1430	0.9790	
46	22.8144	2.6318	24.7632	0.9099	
47	22.3965	2.5641	24.3764	0.8379	
48	21.9715	2.4926	23.9830	0.7630	
49	21.5398	2.4171	23.5828	0.6852	
50	21.1015	2.3377	23.1761	0.6046	
51	20.6571	2.0168	22.7628	0.5212	
52	20.2070	1.6849	22.3430	0.4351	
53	19.7515	1.3422	21.9170	0.3463	
54	19.2910	0.9891	21.4847	0.2550	
55	18.8258	0.6259	21.0463	0.1613	
56	18.3565	0.6333	20.6017	0.1631	
57	17.8836	0.6402	20.1513	0.1648	
58	17.4074	0.6467	19.6949	0.1665	
59	16.9288	0.6527	19.2325	0.1681	
60	16.4483	0.6581	18.7641	0.1696	
61	15.9668	0.6628	18.2900	0.1710	
62	15.4849	0.6668	17.8104	0.1723	
63	15.0034	0.6701	17.3256	0.1736	
64	14.5232	0.6725	16.8361	0.1747	
65	14.0448	0.6740	16.3424	0.1757	
66	13.5691	0.6747	15.8449	0.1765	
67	13.0966	0.6743	15.3442	0.1773	
68	12.6279	0.6731	14.8409	0.1779	
69	12.1636	0.6708	14.3356	0.1783	
70	11.7039	0.6675	13.8288	0.1786	
71	11.2490	0.6633	13.3211	0.1788	
72	10.7986	0.6581	12.8129	0.1788	
73	10.3529	0.6521	12.3046	0.1786	
74	9.9114	0.6453	11.7973	0.1784	
75	9.4751	0.6377	11.2925	0.1779	
76	9.0457	0.6292	10.7919	0.1774	
77	8.6255	0.6197	10.2979	0.1766	
78	8.2168	0.6092	9.8127	0.1757	
79	7.8213	0.5977	9.3386	0.1746	
80	7.4407	0.5852	8.8770	0.1733	
81	7.0760	0.5717	8.4279	0.1718	
82	6.7283	0.5573	7.9910	0.1703	
83	6.3983	0.5421	7.5664	0.1686	
84	6.0869	0.5261	7.1553	0.1669	
85	5.7945	0.5095	6.7594	0.1651	
86	5.5219	0.4925	6.3813	0.1632	
87	5.2699	0.4750	6.0237	0.1612	
88	5.0397	0.4574	5.6900	0.1590	
89	4.8327	0.4395	5.3818	0.1564	
90	4.6505	0.4217	5.0996	0.1535	
91	4.4944	0.4039	4.8430	0.1502	
92	4.3595	0.3863	4.6099	0.1464	
93	4.2355	0.3691	4.3966	0.1421	
94	4.1143	0.3526	4.1992	0.1374	
95	3.9940	0.3364	4.0152	0.1322	
96	3.8753	0.3202	3.8434	0.1264	
97	3.7562	0.3038	3.6824	0.1199	
98	3.6357	0.2867	3.5304	0.1125	
99	3.5135	0.2683	3.3855	0.1041	
8	Valuation factors — pension indexed at 3%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed at 3%.

Age at relevant date (in completed years)	Valuation factors — pension indexed at 3%	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
35	22.5772	1.7775	23.6848	0.7652	
36	22.3542	1.8228	23.4853	0.7858	
37	22.1242	1.8694	23.2797	0.8070	
38	21.8869	1.9173	23.0677	0.8285	
39	21.6423	1.9664	22.8493	0.8506	
40	21.3902	2.0169	22.6242	0.8730	
41	21.1303	1.9997	22.3925	0.8422	
42	20.8626	1.9802	22.1540	0.8089	
43	20.5871	1.9582	21.9086	0.7731	
44	20.3037	1.9336	21.6565	0.7347	
45	20.0122	1.9061	21.3975	0.6935	
46	19.7128	1.8756	21.1315	0.6496	
47	19.4055	1.8419	20.8583	0.6028	
48	19.0904	1.8047	20.5783	0.5531	
49	18.7678	1.7640	20.2912	0.5005	
50	18.4377	1.7194	19.9970	0.4450	
51	18.1004	1.4950	19.6957	0.3865	
52	17.7562	1.2587	19.3873	0.3250	
53	17.4052	1.0104	19.0719	0.2606	
54	17.0478	0.7502	18.7494	0.1933	
55	16.6841	0.4783	18.4198	0.1231	
56	16.3146	0.4875	18.0830	0.1254	
57	15.9395	0.4965	17.7392	0.1276	
58	15.5593	0.5052	17.3881	0.1298	
59	15.1744	0.5135	17.0298	0.1319	
60	14.7856	0.5214	16.6641	0.1340	
61	14.3934	0.5289	16.2910	0.1360	
62	13.9983	0.5357	15.9108	0.1380	
63	13.6010	0.5420	15.5236	0.1399	
64	13.2024	0.5476	15.1299	0.1417	
65	12.8029	0.5524	14.7298	0.1435	
66	12.4033	0.5565	14.3238	0.1451	
67	12.0041	0.5597	13.9123	0.1467	
68	11.6059	0.5621	13.4958	0.1481	
69	11.2092	0.5636	13.0747	0.1494	
70	10.8142	0.5642	12.6495	0.1505	
71	10.4211	0.5639	12.2207	0.1515	
72	10.0299	0.5627	11.7885	0.1524	
73	9.6404	0.5607	11.3535	0.1532	
74	9.2525	0.5580	10.9164	0.1539	
75	8.8669	0.5544	10.4786	0.1544	
76	8.4854	0.5499	10.0419	0.1548	
77	8.1102	0.5445	9.6083	0.1550	
78	7.7435	0.5381	9.1801	0.1550	
79	7.3870	0.5305	8.7595	0.1548	
80	7.0424	0.5219	8.3478	0.1544	
81	6.7108	0.5123	7.9454	0.1538	
82	6.3935	0.5016	7.5519	0.1532	
83	6.0912	0.4900	7.1675	0.1524	
84	5.8048	0.4776	6.7935	0.1515	
85	5.5351	0.4644	6.4316	0.1506	
86	5.2828	0.4505	6.0845	0.1495	
87	5.0490	0.4361	5.7550	0.1482	
88	4.8348	0.4213	5.4463	0.1468	
89	4.6419	0.4062	5.1604	0.1450	
90	4.4720	0.3908	4.8980	0.1428	
91	4.3266	0.3753	4.6589	0.1401	
92	4.2012	0.3599	4.4412	0.1371	
93	4.0859	0.3448	4.2417	0.1335	
94	3.9732	0.3301	4.0568	0.1295	
95	3.8611	0.3158	3.8841	0.1250	
96	3.7505	0.3014	3.7227	0.1199	
97	3.6393	0.2867	3.5712	0.1141	
98	3.5266	0.2713	3.4281	0.1075	
99	3.4122	0.2547	3.2915	0.0998	
9	Valuation factors — pension indexed at 5%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed at 5%.

Age at relevant date (in completed years)	Valuation factors — pension indexed at 5%	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
35	32.5871	4.2137	35.0819	1.8112	
36	32.0836	4.2533	34.5942	1.8300	
37	31.5733	4.2932	34.1004	1.8487	
38	31.0564	4.3334	33.6004	1.8675	
39	30.5329	4.3739	33.0942	1.8862	
40	30.0028	4.4145	32.5819	1.9048	
41	29.4660	4.3068	32.0634	1.8079	
42	28.9227	4.1964	31.5390	1.7086	
43	28.3731	4.0832	31.0087	1.6069	
44	27.8174	3.9671	30.4728	1.5027	
45	27.2556	3.8480	29.9315	1.3962	
46	26.6882	3.7258	29.3847	1.2872	
47	26.1153	3.6003	28.8326	1.1760	
48	25.5376	3.4716	28.2756	1.0624	
49	24.9554	3.3394	27.7138	0.9467	
50	24.3691	3.2038	27.1473	0.8289	
51	23.7793	2.7421	26.5763	0.7091	
52	23.1865	2.2727	26.0011	0.5874	
53	22.5912	1.7963	25.4218	0.4640	
54	21.9940	1.3134	24.8387	0.3392	
55	21.3952	0.8247	24.2520	0.2129	
56	20.7954	0.8281	23.6617	0.2137	
57	20.1954	0.8309	23.0683	0.2145	
58	19.5956	0.8331	22.4716	0.2151	
59	18.9968	0.8346	21.8718	0.2156	
60	18.4000	0.8354	21.2690	0.2160	
61	17.8059	0.8354	20.6634	0.2163	
62	17.2152	0.8345	20.0555	0.2164	
63	16.6287	0.8328	19.4457	0.2165	
64	16.0475	0.8301	18.8345	0.2164	
65	15.4722	0.8264	18.2227	0.2162	
66	14.9034	0.8217	17.6105	0.2158	
67	14.3420	0.8160	16.9989	0.2153	
68	13.7884	0.8093	16.3886	0.2146	
69	13.2431	0.8016	15.7800	0.2138	
70	12.7063	0.7928	15.1739	0.2128	
71	12.1781	0.7831	14.5709	0.2116	
72	11.6582	0.7724	13.9714	0.2103	
73	11.1466	0.7609	13.3758	0.2089	
74	10.6428	0.7486	12.7854	0.2074	
75	10.1478	0.7356	12.2017	0.2057	
76	9.6632	0.7218	11.6264	0.2039	
77	9.1916	0.7071	11.0621	0.2019	
78	8.7351	0.6914	10.5110	0.1997	
79	8.2955	0.6749	9.9755	0.1974	
80	7.8742	0.6575	9.4568	0.1949	
81	7.4723	0.6393	8.9548	0.1923	
82	7.0907	0.6203	8.4689	0.1896	
83	6.7299	0.6007	7.9991	0.1869	
84	6.3906	0.5806	7.5465	0.1842	
85	6.0731	0.5600	7.1127	0.1814	
86	5.7781	0.5391	6.7001	0.1785	
87	5.5062	0.5182	6.3116	0.1755	
88	5.2583	0.4971	5.9502	0.1724	
89	5.0358	0.4762	5.6176	0.1690	
90	4.8401	0.4555	5.3138	0.1652	
91	4.6723	0.4350	5.0381	0.1610	
92	4.5270	0.4150	4.7882	0.1564	
93	4.3934	0.3956	4.5599	0.1514	
94	4.2630	0.3769	4.3490	0.1459	
95	4.1337	0.3586	4.1527	0.1399	
96	4.0063	0.3404	3.9697	0.1333	
97	3.8786	0.3220	3.7985	0.1260	
98	3.7496	0.3030	3.6370	0.1178	
99	3.6189	0.2827	3.4832	0.1086	

Schedule 5	Method for determining gross value of superannuation interest payable as fixed-term pension
(subregulation 42 (3))
  
1	Application of Schedule 5
		This Schedule sets out the method for determining the gross value, at the relevant date, of a superannuation interest that is in the payment phase at the relevant date, if the benefits in respect of the interest are payable as a pension for a fixed term.
2	Method
	(1)	The method is:

where:
B is the value of the annual pension benefit payable in respect of the superannuation interest at the relevant date.
Py+m is the pension valuation factor calculated in accordance with subclause (2).
	(2)	For subclause (1), the pension valuation factor (Py+m) at the relevant date is:

		where:
Py is the pension valuation factor mentioned in clause 3 of this Schedule that applies to the pension and the remaining term of the pension in complete years at the relevant date.
m is the number of complete months of the remaining term of the pension that are not included in the remaining complete years at the relevant date.
Py+1 is the pension valuation factor mentioned in clause 3 of this Schedule that applies to the pension and the remaining term of the pension at the completion of the next year after the year mentioned in the definition of the factor Py.
3	Pension valuation factors
	(1)	The table in this clause sets out the pension valuation factors.
	(2)	The factors in column 2 apply if the pension is not indexed.
	(3)	The factors in column 3 apply if the pension is indexed in accordance with the consumer price index.
	(4)	The factors in column 4 apply if the pension is indexed in accordance with the consumer price index plus 1%.
	(5)	The factors in column 5 apply if the pension is indexed in accordance with the consumer price index plus 1% with a cap of 5%.
	(6)	The factors in column 6 apply if the pension is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).
	(7)	The factors in column 7 apply if the pension is indexed at 3%.
	(8)	The factors in column 8 apply if the pension is indexed at 5%.

Remaining term of pension (in complete years)	Pension valuation factors	

Pension not indexed	

CPI indexed pension	

CPI indexed pension plus 1%	CPI indexed pension plus 1% with 5% cap	

Wage indexed pension	

Pension indexed at 3%	

Pension indexed at 5%	
1	0.969	0.981	0.986	0.985	0.988	0.983	0.993	
2	1.879	1.925	1.944	1.940	1.953	1.935	1.972	
3	2.734	2.834	2.875	2.867	2.896	2.854	2.937	
4	3.536	3.709	3.780	3.765	3.816	3.744	3.889	
5	4.289	4.550	4.659	4.637	4.714	4.604	4.827	
6	4.996	5.360	5.514	5.483	5.592	5.437	5.752	
7	5.661	6.140	6.344	6.303	6.449	6.241	6.664	
8	6.284	6.891	7.151	7.098	7.286	7.020	7.563	
9	6.870	7.613	7.936	7.870	8.103	7.772	8.449	
10	7.420	8.308	8.698	8.618	8.901	8.500	9.323	
11	7.936	8.977	9.439	9.344	9.680	9.204	10.185	
12	8.421	9.621	10.159	10.048	10.441	9.885	11.035	
13	8.876	10.241	10.858	10.731	11.184	10.544	11.872	
14	9.303	10.837	11.538	11.394	11.910	11.181	12.698	
15	9.705	11.411	12.199	12.036	12.618	11.797	13.512	
16	10.081	11.963	12.841	12.659	13.310	12.393	14.315	
17	10.435	12.495	13.465	13.264	13.986	12.969	15.106	
18	10.768	13.007	14.072	13.850	14.646	13.526	15.886	
19	11.079	13.499	14.661	14.419	15.291	14.065	16.655	
20	11.372	13.973	15.234	14.970	15.920	14.586	17.414	
21	11.647	14.430	15.791	15.506	16.534	15.090	18.162	
22	11.906	14.869	16.332	16.025	17.134	15.578	18.899	
23	12.148	15.291	16.858	16.528	17.720	16.049	19.626	
24	12.376	15.698	17.369	17.016	18.293	16.505	20.342	
25	12.590	16.090	17.865	17.490	18.851	16.946	21.049	
26	12.790	16.466	18.348	17.949	19.397	17.373	21.745	
27	12.979	16.829	18.817	18.395	19.930	17.785	22.432	
28	13.156	17.178	19.272	18.827	20.450	18.184	23.109	
29	13.322	17.514	19.715	19.246	20.958	18.570	23.776	
30	13.478	17.837	20.146	19.653	21.455	18.943	24.434	

Schedule 6	Method for determining gross value of superannuation interest payable as pension and future lump sum
(subregulation 43 (3))
  
1	Application of Schedule 6
		This Schedule sets out the method for determining the gross value, at the relevant date, of a superannuation interest that is in the payment phase at the relevant date, if:
	(a)	part of the benefits in respect of the interest is being paid as a pension at the relevant date; and
	(b)	the remaining part of the benefits is payable, at any time after the relevant date, as a lump sum that is not a commutation of the pension.
2	Definitions for Schedule 6
		In this Schedule:
minimum deferral period, in relation to a lump sum that is to be paid to a member spouse at any time after the relevant date, means the minimum period until the lump sum may be paid to the member spouse.
nominal value, of a lump sum at a particular date, means:
	(a)	subject to paragraph (b), the value of the lump sum at that date; or
	(b)	if the value of the lump sum is expressed as an amount of dollars to be paid at a time after that date, that amount.
3	Method
	(1)	The method is:

where:
GVP is the gross value of the pension, determined using the relevant method of valuation set out in subregulation 42 (2), (3) or (4).
GVLS is the gross value of the lump sum, determined using the method of valuation set out in subclause (2).
	(2)	For subclause (1), the method of determining the gross value of the lump sum (GVLS) is:

where:
LS is the nominal value of the lump sum at the relevant date.
Dy+m is the discount valuation factor calculated in accordance with subclause (3).
	(3)	For subclause (2), the discount valuation factor (Dy+m) at the relevant date is:

where:
Dy is the discount valuation factor mentioned in clause 4 of this Schedule that applies to the lump sum and the minimum deferral period in complete years at the relevant date.
m is the number of complete months of the minimum deferral period applicable to the lump sum that are not included in the remaining complete years of that period at the relevant date.
Dy+1 is the discount valuation factor mentioned in clause 4 of this Schedule that applies to the lump sum and the minimum deferral period applicable to the lump sum at the completion of the next year after the year mentioned in the definition of the factor Dy.
4	Discount valuation factors
	(1)	This clause sets out the discount valuation factors.
	(2)	The factors in column 2 of the table in this clause apply if the lump sum is not indexed.
	(3)	The factors in column 3 of the table in this clause apply if the lump sum is indexed in accordance with the consumer price index.
	(4)	The factors in column 4 of the table in this clause apply if the lump sum is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).
	(5)	If the lump sum is indexed in accordance with a fund crediting rate, the factor is 1.
	(6)	For this Schedule, a lump sum is taken to be not indexed if the nominal value of the lump sum is an amount within the meaning of paragraph (b) of the definition of nominal value in clause 2 of this Schedule.

	Discount valuation factors	
Minimum deferral period for lump sum (in complete years)	
Lump sum not indexed	
CPI indexed lump sum	
Wage indexed lump sum	
0	1.000	1.000	1.000	
1	0.939	0.963	0.977	
2	0.882	0.927	0.954	
3	0.829	0.892	0.932	
4	0.779	0.859	0.910	
5	0.733	0.828	0.889	
6	0.690	0.798	0.869	
7	0.649	0.769	0.850	
8	0.612	0.742	0.831	
9	0.577	0.716	0.813	
10	0.545	0.691	0.795	
11	0.515	0.668	0.779	
12	0.487	0.645	0.763	
13	0.461	0.625	0.748	
14	0.438	0.605	0.733	
15	0.416	0.587	0.720	
16	0.396	0.570	0.707	
17	0.378	0.554	0.695	
18	0.362	0.539	0.685	
19	0.348	0.526	0.675	
20	0.334	0.514	0.666	
Note
1.	Notified in the Commonwealth of Australia Gazette on 15 October 2001.