Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003
made under regulations 38 and 43A of the
Family Law (Superannuation) Regulations 2001
Compilation No. 25
Compilation date: 29 April 2022
Includes amendments up to: F2022L00431
Registered: 5 May 2022
This compilation is in 6 volumes
Volume 1: sections 1–4 and Schedule 1 (Parts 1 and 2)
Volume 2: Schedule 1 (Parts 3 and 4)
Volume 3: Schedule 1 (Part 5)
Volume 4: Schedule 1 (Parts 6 and 7)
Volume 5: Schedules 2–4
Volume 6: Schedules 5–10 and Endnotes
Each volume has its own contents
About this compilation
This compilation
This is a compilation of the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003 that shows the text of the law as amended and in force on 29 April 2022 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.
Self‑repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Schedule 2 Public sector superannuation plans — New South Wales
Part 1 Local Government Superannuation Scheme
Part 5 New South Wales Police Superannuation Scheme
Division 5.1 Definitions
Division 5.2 Interests in the growth phase
Division 5.3 Interests in the payment phase
Division 5.4 Factors
Part 6 Police Association Superannuation Scheme
Division 6.1 Definitions
Division 6.2 Interests in the growth phase
Division 6.3 Interests in the payment phase
Division 6.4 Factors
Part 7 New South Wales State Authorities Superannuation Scheme
Division 7.1 Definitions
Division 7.2 Interests in the growth phase
Division 7.3 Interests in the payment phase
Division 7.4 Factors
Part 8 New South Wales State Superannuation Scheme
Division 8.1 Definitions
Division 8.2 Interests in the growth phase
Division 8.3 Interests in the payment phase
Division 8.4 Factors, probabilities and proportions of optional units for which contributions are required to be made
Part 9 NSW State Authorities Non‑contributory Superannuation Scheme
Part 10 New South Wales Parliamentary Contributory Superannuation Scheme
Division 10.1 Definitions
Division 10.2 Interest held by member
Division 10.3 Other interests
Division 10.4 Factors and probabilities
Schedule 3 Public sector superannuation plans — Victoria
Part 1 Superannuation scheme established by the State Superannuation Act 1988 (Vic) — new scheme members
Division 1.1 Definitions
Division 1.2 Interests in the growth phase
Division 1.3 Interests in the payment phase
Part 2 Superannuation scheme established by the State Superannuation Act 1988 (Vic) — revised scheme members
Part 3 Victorian State Employees Retirement Benefits Scheme
Part 4 Benefits provided under the Superannuation Benefits Act 1977 (Vic)
Part 5 Benefits provided under Transport Superannuation Act 1989 (Vic)
Division 5.1 Definitions
Division 5.2 Interests in the growth phase
Division 5.3 Interests in the payment phase
Part 6 State Parliamentary Contributory Superannuation Fund
Division 6.1 Definitions
Division 6.2 Interests in the growth phase
Division 6.3 Interests in the payment phase
Division 6.4 Factors
Part 7 Victorian pension schemes — Governor, Judges, Associate Judges, Chief Magistrate, Solicitor‑General, Director of Public Prosecutions and Chief Crown Prosecutor
Division 7.1 Definitions
Division 7.2 Interests in the growth phase
Division 7.3 Factors
Schedule 4 Public sector superannuation plans — Queensland
Part 1 Superannuation scheme established by the Superannuation (State Public Sector) Act 1990 (Qld)
Part 3 Local Government Superannuation Scheme
Schedule 2 Public sector superannuation plans — New South Wales
(section 4)
Part 1 Local Government Superannuation Scheme
1 Definitions
In this Part:
Early Retirement Age has the meaning given by rule 1.1 of the Rules.
LGSS means the Local Government Superannuation Scheme established by the Trust Deed.
Rules means the rules set out in Schedule 2 to the Trust Deed.
Trust Deed means the Trust Deed dated 30 June 1997, entered into by the Treasurer of New South Wales and LGSS Pty Limited, as amended and in force on the commencement of this Part.
2 Methods and factors for interests of members in the LGSS
For an interest that:
(a) is in the growth phase in the LGSS; and
(b) is mentioned in an item in the following table;
the method or factor mentioned in the item is approved for section 4 of this instrument.
Item | Interest in the growth phase | Method or factor |
1 | An interest that a person has in the LGSS if the person has elected to make provision for a benefit provided by rule 5.10 of the Rules. | CFB + EFB × Fy+m where: CFB is the amount of the contributor‑financed benefit that would have been payable to the person under paragraph 5.10.8 (a) of the Rules if the person had been eligible to receive that benefit on the relevant date. |
| | EFB is the amount of the employer‑financed benefits that would have been payable to the person under paragraph 5.10.8 (b) of the Rules if the person had been eligible to receive that benefit on the relevant date. Fy+m is the factor calculated in accordance with the following formula:. |
| | 
where: Fy is the valuation factor mentioned in Table 1 of this Part that applies to the period in completed years (y) commencing on the relevant date and ending on the date when the person will reach the person’s Early Retirement Age. m is the number of complete months commencing on the relevant date and ending on the date when the person will reach the person’s Early Retirement Age that are not included in the completed years mentioned in the definition of the factor Fy. Fy+1 is the valuation factor mentioned in Table 1 of this Part that applies to the period in completed years (y) commencing on the relevant date and ending 1 year after the date when the person will reach the person’s Early Retirement Age. |
Table 1 Valuation factors
Number of completed years until Early Retirement Age | Factor |
37 | 0.716 |
36 | 0.722 |
35 | 0.729 |
34 | 0.735 |
33 | 0.742 |
32 | 0.749 |
31 | 0.756 |
30 | 0.762 |
29 | 0.769 |
28 | 0.776 |
27 | 0.783 |
26 | 0.791 |
25 | 0.798 |
24 | 0.805 |
23 | 0.812 |
22 | 0.820 |
21 | 0.827 |
20 | 0.835 |
19 | 0.842 |
18 | 0.850 |
17 | 0.858 |
16 | 0.865 |
15 | 0.873 |
14 | 0.881 |
13 | 0.889 |
12 | 0.897 |
11 | 0.905 |
10 | 0.914 |
9 | 0.922 |
8 | 0.930 |
7 | 0.939 |
6 | 0.947 |
5 | 0.956 |
4 | 0.964 |
3 | 0.973 |
2 | 0.982 |
1 | 0.991 |
0 | 1.000 |
Part 5 New South Wales Police Superannuation Scheme
Division 5.1 Definitions
1 Definitions
(1) In this Part:
age at entry means the age, in completed years, when a person became a contributor.
Police Superannuation Scheme means the superannuation scheme constituted by the PRS Act.
Police Superannuation Regulation means the Police Superannuation Regulation 2005 (NSW).
PRS Act means the Police Regulation (Superannuation) Act 1906 (NSW).
(2) A reference in this Part to the requirements of Division 2.2 of the Regulations being satisfied does not include a reference to the requirements of that Division being satisfied by making a payment of the kind mentioned in regulation 14H of the Regulations.
(3) An expression used in this Part and in the PRS Act or in a provision of that Act has the same meaning in this Part as it has in the PRS Act or the provision of that Act.
Note 1 The following expressions are defined in subsection 1 (2) of the PRS Act:
attributed salary of office
contributor
executive officer
member of the police force
STC.
Note 2 Equivalent service ratio is defined in section 6 of the PRS Act.
Division 5.2 Interests in the growth phase
2 Method for interests in Police Superannuation Scheme
For an interest:
(a) that is held by a member of the police force other than an executive officer who elected to make provision for a benefit in accordance with paragraph 5B (1) (b) of the PRS Act; and
(b) that is in the growth phase in the Police Superannuation Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: AS, ESR, NEA, B and C have the meanings given by subclause 3 (1). Fae,y+m has the meaning given by subclause 3 (2). R is the reduction factor under clause 4. |
3 Definition of terms and expressions
(1) In clause 2 and, unless expressly modified, in any other provision in this Part:
AS is the attributed salary of office of the person at the relevant date.
B is the total number of days, in the period commencing on 1 July 1988 and ending at the end of the relevant date, for which:
(a) contributions were deducted from the person’s salary of office under subsection 5 (1) of the PRS Act; or
(b) amounts were paid by the person under section 5A of the PRS Act, being amounts that are deemed, under subsection 5A (6) of that Act, to have been deducted from the person’s salary of office.
C is the total number of days, as at the relevant date (including, if applicable, that date) for which:
(a) contributions were deducted from the person’s salary of office under subsection 5 (1) of the PRS Act; or
(b) amounts were paid by the person under section 5A of the PRS Act, being amounts that are deemed, under subsection 5A (6) of that Act, to have been deducted from the person’s salary of office.
ESR is the person’s equivalent service ratio at the relevant date.
NEA is the person’s notional employee account, being the sum of the amounts referred to in paragraphs 10 (1) (a), (b) and (c) of the Police Superannuation Regulation if STC were required to reduce the amount of the person’s benefit under subsection 14AA (1) of the PRS Act, at the relevant date.
(2) In clause 2 and, unless expressly modified, in any other provision in this Part:
Fae,y+m is calculated in accordance with the formula:
where:
Fae,y is the valuation factor in whichever of Table 1 or 2 of Division 5.4 is applicable, given:
(a) the person’s gender; and
(b) the person’s age in completed years at the relevant date (y); and
(c) the person’s age at entry (ae).
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
Fae,y+1 is the valuation factor mentioned in whichever of Table 1 or 2 of Division 5.4 is applicable to the person if the person’s age in completed years at the relevant date were 1 year more than it is.
4 Reduction factor
(1) Reduction factor is:
(a) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the amount calculated in accordance with the formula set out in subclause (2); or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlements of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the amounts calculated in accordance with the formula set out in subclause (2) in respect of each entitlement; or
(c) in any other case — 1.
(2) For paragraphs (1) (a) and (b), each amount is calculated in accordance with the formula:
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in the table following clause 2.
BenProp is the quotient of:
(a) the product of Cs and TAs; and
(b) the product of C and TArd;
where:
Cs is the total number of days, as at the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order (including, if applicable, that date), for which:
(a) contributions were deducted from the person’s salary of office under subsection 5 (1) of the PRS Act; or
(b) amounts were paid by the person under section 5A of the PRS Act, being amounts that are deemed, under subsection 5A (6) of that Act, to have been deducted from the person’s salary of office.
TAs is the amount of tax adjustment in respect of the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order, calculated in accordance with the formula set out in subclause 5 (1).
C has the meaning given by subclause 3 (1).
TArd is the amount of tax adjustment in respect of the person at the relevant date, calculated in accordance with the formula set out in subclause 5 (2).
5 Tax adjustment
(1) TAs is calculated in accordance with the formula:
where:
EFBProps is the quotient of:
(a) EFBs, being the value of the person’s employer‑financed benefit, immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order, calculated in accordance with the formula:
where:
AS, ESR, NEA, B and C have the meanings given by subclause 3 (1), modified so that a reference to ‘the relevant date’ in relation to each of those terms is a reference to ‘the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order’.
Fae,y+m has the meaning given by subclause 3 (2), modified so that a reference to ‘the relevant date’ in relation to that term is a reference to ‘the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order’.
; and
(b) the person’s total benefit at the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order, being the sum of:
(i) EFBs calculated in accordance with the formula set out in paragraph (a); and
(ii) NEA as defined in subclause 3 (1) but modified so that the reference to ‘the relevant date’ in that definition is a reference to ‘the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order’.
CSProps is the quotient of:
(a) the total number of days, in the period commencing on 1 July 1988 and ending on the day immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order, for which:
(i) contributions were deducted from the person’s salary of office under subsection 5 (1) of the PRS Act; or
(ii) amounts were paid by the person under section 5A of the PRS Act, being amounts that are deemed, under subsection 5A (6) of that Act, to have been deducted from the person’s salary of office; and
(b) Cs (as defined in subclause 4 (2)).
(2) TArd is calculated in accordance with the formula:
where:
EFBProp is the quotient of:
(a) EFBrd calculated in accordance with the formula:
where:
AS, ESR, NEA, B and C have the meanings given by subclause 3 (1).
Fae,y+m has the meaning given by subclause 3 (2).
; and
(b) the person’s total benefit at the relevant date, being the sum of:
(i) EFBrd calculated in accordance with the formula set out in paragraph (a); and
(ii) NEA (as defined in subclause 3 (1)).
CSProp is the quotient of B and C (as defined in subclause 3 (1)).
Division 5.3 Interests in the payment phase
6 Method for interests in Police Superannuation Scheme
For an interest that:
(a) is held by a person:
(i) who was a member of the police force; or
(ii) who was, at the time of the death of a person who was or who had been a member of the police force, a spouse, or de facto partner within the meaning given by subsection 1 (2) of the PRS Act, of that deceased person; and
(b) in respect of which a superannuation allowance is payable under the PRS Act; and
(c) is in the payment phase in the Police Superannuation Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: SA is the amount of annual superannuation allowance payable to the person in respect of the interest at the relevant date. SAFy+m is the amount calculated in accordance with the formula: 
where: SAFy is the valuation factor mentioned in whichever of Table 3 or 4 of Division 5.4 is applicable, given: (a) the person’s gender; and (b) the person’s age in completed years at the relevant date (y); and (c) the type of superannuation allowance. m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date. SAFy+1 is the valuation factor mentioned in whichever of Table 3 or 4 of Division 5.4 is applicable if the person’s age in completed years at the relevant date were 1 year more than it is. |
Division 5.4 Factors
Table 1 Police Superannuation Scheme — male members of the Police Force |
Age at relevant date | Age at Entry |
19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 |
34 | 3.4 | | | | | | | | | | | | | | | |
35 | 3.6 | 3.5 | | | | | | | | | | | | | | |
36 | 3.8 | 3.7 | 3.6 | | | | | | | | | | | | | |
37 | 4.1 | 4.0 | 3.8 | 3.7 | | | | | | | | | | | | |
38 | 4.3 | 4.2 | 4.1 | 3.9 | 3.9 | | | | | | | | | | | |
39 | 4.7 | 4.5 | 4.4 | 4.2 | 4.1 | 4.0 | | | | | | | | | | |
40 | 5.0 | 4.8 | 4.6 | 4.5 | 4.4 | 4.2 | 4.1 | | | | | | | | | |
41 | 5.2 | 5.1 | 5.0 | 4.8 | 4.7 | 4.5 | 4.4 | 4.3 | | | | | | | | |
42 | 5.5 | 5.3 | 5.3 | 5.2 | 4.9 | 4.8 | 4.7 | 4.5 | 4.3 | | | | | | | |
43 | 5.7 | 5.6 | 5.5 | 5.4 | 5.3 | 5.1 | 5.0 | 4.8 | 4.6 | 4.4 | | | | | | |
44 | 6.0 | 5.9 | 5.8 | 5.7 | 5.6 | 5.4 | 5.3 | 5.1 | 4.9 | 4.7 | 4.5 | | | | | |
45 | 6.2 | 6.1 | 6.0 | 5.9 | 5.8 | 5.7 | 5.6 | 5.4 | 5.2 | 4.9 | 4.7 | 4.6 | | | | |
46 | 6.4 | 6.3 | 6.3 | 6.2 | 6.1 | 6.0 | 5.9 | 5.8 | 5.5 | 5.3 | 5.0 | 4.8 | 4.7 | | | |
47 | 6.7 | 6.6 | 6.5 | 6.5 | 6.4 | 6.3 | 6.2 | 6.0 | 5.8 | 5.6 | 5.3 | 5.1 | 4.9 | 4.7 | | |
48 | 6.9 | 6.8 | 6.7 | 6.7 | 6.6 | 6.6 | 6.5 | 6.3 | 6.2 | 6.0 | 5.7 | 5.4 | 5.1 | 4.9 | 4.7 | |
49 | 7.1 | 7.1 | 7.0 | 6.9 | 6.9 | 6.8 | 6.7 | 6.6 | 6.4 | 6.2 | 6.1 | 5.8 | 5.5 | 5.2 | 4.9 | 4.8 |
50 | 7.3 | 7.3 | 7.2 | 7.2 | 7.2 | 7.1 | 7.0 | 6.9 | 6.7 | 6.5 | 6.3 | 6.1 | 5.8 | 5.6 | 5.2 | 5.0 |
51 | 7.5 | 7.5 | 7.4 | 7.4 | 7.4 | 7.3 | 7.2 | 7.1 | 6.9 | 6.8 | 6.5 | 6.3 | 6.1 | 5.7 | 5.5 | 5.2 |
52 | 7.7 | 7.6 | 7.6 | 7.6 | 7.6 | 7.5 | 7.5 | 7.3 | 7.2 | 7.0 | 6.8 | 6.5 | 6.3 | 6.0 | 5.7 | 5.6 |
53 | 7.9 | 7.9 | 7.8 | 7.8 | 7.8 | 7.8 | 7.7 | 7.6 | 7.4 | 7.2 | 7.0 | 6.8 | 6.6 | 6.4 | 6.1 | 5.8 |
54 | 8.1 | 8.1 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 7.9 | 7.6 | 7.5 | 7.2 | 7.1 | 6.9 | 6.5 | 6.4 | 6.0 |
55 | 8.3 | 8.3 | 8.3 | 8.2 | 8.2 | 8.2 | 8.2 | 8.1 | 7.9 | 7.7 | 7.5 | 7.3 | 7.1 | 6.8 | 6.5 | 6.2 |
56 | 8.4 | 8.4 | 8.4 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.2 | 8.1 | 7.9 | 7.7 | 7.4 | 7.2 | 6.8 | 6.5 |
57 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.5 | 8.4 | 8.4 | 8.4 | 8.3 | 8.2 | 8.0 | 7.8 | 7.3 | 7.1 | 7.0 |
58 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.5 | 8.5 | 8.5 | 8.5 | 8.4 | 8.2 | 7.9 | 7.7 | 7.4 | 7.2 |
59 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.6 | 8.6 | 8.6 | 8.7 | 8.6 | 8.6 | 8.4 | 8.2 | 8.0 | 7.7 | 7.4 |
60 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.4 | 8.2 | 8.0 | 7.7 |
61 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.4 | 8.3 | 8.0 |
62 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.5 | 8.2 |
63 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.3 |
64 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 |
65 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 |
Table 2 Police Superannuation Scheme — female members of the Police Force |
Age at relevant date | Age at Entry |
19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 |
34 | 3.1 | | | | | | | | | | | | | | | |
35 | 3.3 | 3.2 | | | | | | | | | | | | | | |
36 | 3.6 | 3.4 | 3.4 | | | | | | | | | | | | | |
37 | 3.8 | 3.7 | 3.6 | 3.5 | | | | | | | | | | | | |
38 | 4.1 | 4.0 | 3.8 | 3.7 | 3.6 | | | | | | | | | | | |
39 | 4.4 | 4.2 | 4.1 | 4.0 | 3.8 | 3.7 | | | | | | | | | | |
40 | 4.7 | 4.6 | 4.4 | 4.3 | 4.1 | 4.0 | 3.9 | | | | | | | | | |
41 | 4.9 | 4.8 | 4.7 | 4.6 | 4.4 | 4.3 | 4.1 | 4.0 | | | | | | | | |
42 | 5.2 | 5.1 | 5.0 | 4.9 | 4.7 | 4.6 | 4.4 | 4.3 | 4.1 | | | | | | | |
43 | 5.5 | 5.4 | 5.3 | 5.2 | 5.1 | 4.9 | 4.8 | 4.6 | 4.4 | 4.2 | | | | | | |
44 | 5.7 | 5.7 | 5.6 | 5.4 | 5.3 | 5.2 | 5.1 | 4.9 | 4.7 | 4.5 | 4.3 | | | | | |
45 | 6.0 | 5.9 | 5.8 | 5.7 | 5.6 | 5.5 | 5.4 | 5.2 | 5.0 | 4.7 | 4.6 | 4.4 | | | | |
46 | 6.3 | 6.2 | 6.1 | 6.0 | 5.9 | 5.8 | 5.7 | 5.6 | 5.4 | 5.1 | 4.9 | 4.6 | 4.5 | | | |
47 | 6.5 | 6.5 | 6.3 | 6.3 | 6.2 | 6.1 | 6.0 | 5.9 | 5.7 | 5.4 | 5.1 | 4.9 | 4.7 | 4.5 | | |
48 | 6.8 | 6.7 | 6.6 | 6.6 | 6.5 | 6.5 | 6.3 | 6.2 | 6.0 | 5.8 | 5.6 | 5.3 | 5.0 | 4.8 | 4.6 | |
49 | 7.0 | 7.0 | 6.9 | 6.8 | 6.8 | 6.7 | 6.6 | 6.5 | 6.3 | 6.1 | 6.0 | 5.7 | 5.4 | 5.1 | 4.8 | 4.6 |
50 | 7.2 | 7.2 | 7.2 | 7.1 | 7.1 | 7.0 | 6.9 | 6.8 | 6.6 | 6.4 | 6.2 | 6.0 | 5.7 | 5.5 | 5.1 | 4.9 |
51 | 7.5 | 7.4 | 7.4 | 7.3 | 7.3 | 7.2 | 7.1 | 7.0 | 6.8 | 6.7 | 6.4 | 6.3 | 6.0 | 5.7 | 5.4 | 5.1 |
52 | 7.7 | 7.6 | 7.6 | 7.6 | 7.6 | 7.5 | 7.5 | 7.3 | 7.2 | 7.0 | 6.8 | 6.5 | 6.3 | 6.0 | 5.7 | 5.6 |
53 | 7.9 | 7.9 | 7.9 | 7.9 | 7.8 | 7.8 | 7.8 | 7.6 | 7.5 | 7.3 | 7.1 | 6.8 | 6.6 | 6.4 | 6.1 | 5.8 |
54 | 8.2 | 8.2 | 8.1 | 8.1 | 8.1 | 8.1 | 8.1 | 7.9 | 7.7 | 7.6 | 7.3 | 7.2 | 7.0 | 6.6 | 6.4 | 6.0 |
55 | 8.4 | 8.4 | 8.4 | 8.4 | 8.3 | 8.3 | 8.3 | 8.2 | 8.0 | 7.8 | 7.6 | 7.4 | 7.2 | 6.9 | 6.6 | 6.2 |
56 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.4 | 8.4 | 8.3 | 8.2 | 8.0 | 7.8 | 7.5 | 7.3 | 7.0 | 6.6 |
57 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.5 | 8.4 | 8.3 | 8.1 | 7.9 | 7.5 | 7.3 | 7.1 |
58 | 8.8 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.6 | 8.4 | 8.0 | 7.8 | 7.5 | 7.3 |
59 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.91 | 8.9 | 8.7 | 8.4 | 8.2 | 7.9 | 7.6 |
60 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 8.7 | 8.4 | 8.1 | 7.8 |
61 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 8.6 | 8.4 | 8.1 |
62 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 9.0 | 8.6 | 8.4 |
63 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.7 | 8.6 |
64 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.6 |
65 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 |
Table 3 Police Superannuation Scheme — Payment phase — males |
Age in
Completed Years | Age Retirement Superannuation Allowance (ss 7 and 7AA) | Invalid Superannuation Allowance | Reversionary Superannuation Allowance (ss 11, 11AA, 11A, 11B, 11C, 11D and 12) |
Hurt on Duty (s 10) | Not Hurt on Duty (s 7 with certification under s 8) |
25 | 23.53 | 22.88 | 22.02 | 23.24 |
26 | 23.43 | 22.78 | 21.90 | 23.13 |
27 | 23.32 | 22.67 | 21.78 | 23.01 |
28 | 23.22 | 22.56 | 21.66 | 22.89 |
29 | 23.10 | 22.44 | 21.53 | 22.76 |
30 | 22.99 | 22.32 | 21.39 | 22.63 |
31 | 22.86 | 22.19 | 21.25 | 22.49 |
32 | 22.74 | 22.06 | 21.10 | 22.34 |
33 | 22.61 | 21.93 | 20.96 | 22.19 |
34 | 22.47 | 21.80 | 20.81 | 22.04 |
35 | 22.33 | 21.65 | 20.65 | 21.88 |
36 | 22.18 | 21.51 | 20.49 | 21.72 |
37 | 22.03 | 21.35 | 20.32 | 21.54 |
38 | 21.87 | 21.19 | 20.14 | 21.36 |
39 | 21.70 | 21.03 | 19.96 | 21.18 |
40 | 21.53 | 20.86 | 19.78 | 20.99 |
41 | 21.33 | 20.66 | 19.55 | 20.79 |
42 | 21.13 | 20.46 | 19.33 | 20.59 |
43 | 20.92 | 20.25 | 19.09 | 20.37 |
44 | 20.70 | 20.04 | 18.85 | 20.15 |
45 | 20.47 | 19.82 | 18.60 | 19.92 |
46 | 20.16 | 19.50 | 18.21 | 19.69 |
47 | 19.84 | 19.18 | 17.83 | 19.44 |
48 | 19.51 | 18.85 | 17.44 | 19.19 |
49 | 19.17 | 18.52 | 17.06 | 18.93 |
50 | 18.83 | 18.19 | 16.68 | 18.66 |
51 | 18.47 | 17.85 | 16.31 | 18.39 |
52 | 18.19 | 17.59 | 16.05 | 18.10 |
53 | 17.89 | 17.32 | 15.79 | 17.81 |
54 | 17.58 | 17.04 | 15.52 | 17.50 |
55 | 17.27 | 16.74 | 15.25 | 17.19 |
56 | 16.94 | 16.44 | 14.97 | 16.87 |
57 | 16.61 | 16.13 | 14.68 | 16.53 |
58 | 16.26 | 15.80 | 14.38 | 16.19 |
59 | 15.90 | 15.47 | 14.08 | 15.83 |
60 | 15.53 | 15.13 | 13.77 | 15.47 |
61 | 15.16 | 14.78 | 13.45 | 15.10 |
62 | 14.77 | 14.42 | 13.12 | 14.72 |
63 | 14.38 | 14.05 | 12.78 | 14.33 |
64 | 13.98 | 13.68 | 12.44 | 13.93 |
65 | 13.57 | 13.30 | 12.10 | 13.52 |
66 | 13.15 | 12.91 | 11.74 | 13.11 |
67 | 12.72 | 12.52 | 11.38 | 12.69 |
68 | 12.28 | 12.12 | 11.01 | 12.26 |
69 | 11.83 | 11.71 | 10.63 | 11.81 |
70 | 11.38 | 11.30 | 10.26 | 11.36 |
71 | 10.91 | 10.89 | 9.88 | 10.90 |
72 | 10.43 | 10.48 | 9.51 | 10.43 |
73 | 9.95 | 10.07 | 9.13 | 9.96 |
74 | 9.47 | 9.67 | 8.75 | 9.48 |
75 | 8.98 | 9.26 | 8.37 | 8.99 |
76 | 8.48 | 8.86 | 7.99 | 8.50 |
77 | 8.00 | 8.46 | 7.61 | 8.03 |
78 | 7.54 | 8.08 | 7.24 | 7.57 |
79 | 7.09 | 7.70 | 6.87 | 7.12 |
80 | 6.67 | 7.33 | 6.51 | 6.70 |
81 | 6.28 | 6.97 | 6.16 | 6.31 |
82 | 5.91 | 6.61 | 5.82 | 5.94 |
83 | 5.57 | 6.27 | 5.49 | 5.60 |
84 | 5.25 | 5.95 | 5.18 | 5.28 |
85 | 4.95 | 5.63 | 4.89 | 4.98 |
86 | 4.66 | 5.33 | 4.61 | 4.69 |
87 | 4.38 | 5.04 | 4.33 | 4.41 |
88 | 4.11 | 4.75 | 4.07 | 4.14 |
89 | 3.86 | 4.48 | 3.82 | 3.89 |
90 | 3.61 | 4.22 | 3.57 | 3.64 |
91 | 3.37 | 3.96 | 3.34 | 3.40 |
92 | 3.15 | 3.72 | 3.11 | 3.17 |
93 | 2.93 | 3.50 | 2.91 | 2.96 |
94 | 2.74 | 3.29 | 2.72 | 2.76 |
95 | 2.56 | 3.09 | 2.54 | 2.58 |
96 | 2.40 | 2.92 | 2.38 | 2.42 |
97 | 2.25 | 2.75 | 2.24 | 2.27 |
98 | 2.12 | 2.59 | 2.10 | 2.13 |
99 or more | 1.99 | 2.44 | 1.97 | 2.00 |
Table 4 Police Superannuation Scheme — Payment phase — females |
Age in
Completed Years | Age Retirement Superannuation Allowance (ss 7 and 7AA) | Invalid Superannuation Allowance (s 7 with certification under s 8, s10) | Reversionary Superannuation Allowance (ss 11, 11AA, 11A, 11B, 11C, 11D and 12) |
25 | 23.84 | 22.19 | 23.80 |
26 | 23.75 | 22.05 | 23.70 |
27 | 23.65 | 21.91 | 23.60 |
28 | 23.55 | 21.76 | 23.49 |
29 | 23.44 | 21.61 | 23.38 |
30 | 23.33 | 21.45 | 23.26 |
31 | 23.22 | 21.29 | 23.14 |
32 | 23.10 | 21.13 | 23.02 |
33 | 22.98 | 20.96 | 22.89 |
34 | 22.85 | 20.79 | 22.75 |
35 | 22.72 | 20.61 | 22.61 |
36 | 22.58 | 20.43 | 22.47 |
37 | 22.44 | 20.24 | 22.32 |
38 | 22.29 | 20.05 | 22.17 |
39 | 22.14 | 19.85 | 22.01 |
40 | 21.98 | 19.65 | 21.84 |
41 | 21.78 | 19.32 | 21.67 |
42 | 21.58 | 18.99 | 21.49 |
43 | 21.40 | 18.77 | 21.31 |
44 | 21.21 | 18.54 | 21.12 |
45 | 21.02 | 18.30 | 20.92 |
46 | 20.82 | 18.07 | 20.71 |
47 | 20.61 | 17.83 | 20.50 |
48 | 20.39 | 17.59 | 20.28 |
49 | 20.17 | 17.35 | 20.06 |
50 | 19.94 | 17.11 | 19.83 |
51 | 19.69 | 16.84 | 19.59 |
52 | 19.45 | 16.60 | 19.34 |
53 | 19.19 | 16.35 | 19.08 |
54 | 18.93 | 16.10 | 18.82 |
55 | 18.66 | 15.85 | 18.54 |
56 | 18.37 | 15.60 | 18.26 |
57 | 18.08 | 15.34 | 17.97 |
58 | 17.78 | 15.08 | 17.67 |
59 | 17.48 | 14.82 | 17.37 |
60 | 17.17 | 14.55 | 17.06 |
61 | 16.85 | 14.28 | 16.74 |
62 | 16.52 | 14.01 | 16.41 |
63 | 16.19 | 13.73 | 16.08 |
64 | 15.85 | 13.44 | 15.74 |
65 | 15.49 | 13.14 | 15.39 |
66 | 15.13 | 12.84 | 15.03 |
67 | 14.77 | 12.53 | 14.67 |
68 | 14.39 | 12.21 | 14.30 |
69 | 14.00 | 11.89 | 13.91 |
70 | 13.61 | 11.57 | 13.53 |
71 | 13.21 | 11.24 | 13.13 |
72 | 12.80 | 10.90 | 12.73 |
73 | 12.38 | 10.56 | 12.32 |
74 | 11.96 | 10.22 | 11.90 |
75 | 11.53 | 9.86 | 11.48 |
76 | 11.10 | 9.51 | 11.06 |
77 | 10.67 | 9.14 | 10.63 |
78 | 10.23 | 8.76 | 10.21 |
79 | 9.80 | 8.36 | 9.78 |
80 | 9.37 | 7.96 | 9.35 |
81 | 8.94 | 7.55 | 8.93 |
82 | 8.51 | 7.15 | 8.51 |
83 | 8.09 | 6.75 | 8.09 |
84 | 7.66 | 6.35 | 7.67 |
85 | 7.25 | 5.97 | 7.27 |
86 | 6.85 | 5.60 | 6.87 |
87 | 6.47 | 5.25 | 6.49 |
88 | 6.11 | 4.91 | 6.13 |
89 | 5.76 | 4.60 | 5.79 |
90 | 5.43 | 4.31 | 5.46 |
91 | 5.13 | 4.05 | 5.16 |
92 | 4.84 | 3.80 | 4.87 |
93 | 4.57 | 3.57 | 4.60 |
94 | 4.30 | 3.35 | 4.33 |
95 | 4.04 | 3.14 | 4.07 |
96 | 3.78 | 2.93 | 3.81 |
97 | 3.52 | 2.72 | 3.55 |
98 | 3.26 | 2.50 | 3.28 |
99 or more | 2.97 | 2.26 | 2.99 |
Part 6 Police Association Superannuation Scheme
Division 6.1 Definitions
1 Definitions
(1) In this Part:
age at entry means the age, in completed years, when a person became a contributor.
contributor has the meaning given by subsection 1 (2) of the PRS Act.
equivalent service ratio has the meaning given by section 6 of the PRS Act.
PAES Act means the Police Association Employees (Superannuation) Act 1969 (NSW).
Police Association Superannuation Scheme means the superannuation scheme constituted by the PAES Act.
Police Superannuation Scheme means the superannuation scheme constituted by the PRS Act.
PRS Act means the Police Regulation (Superannuation) Act 1906 (NSW).
(2) A reference in this Part to the requirements of Division 2.2 of the Regulations being satisfied does not include a reference to the requirements of that Division being satisfied by making a payment of the kind mentioned in regulation 14H of the Regulations.
(3) An expression used in this Part and in the PAES Act or in a provision of that Act has the same meaning in this Part as it has in the PAES Act or the provision of that Act.
Note The following expressions are defined in subsection 2 (1) of the PAES Act:
Association
member of the police force
STC.
Division 6.2 Interests in the growth phase
2 Method for interests in Police Association Superannuation Scheme
(1) For an interest that:
(a) is held by a person who:
(i) was a member of the police force; and
(ii) resigned office as a member of the police force and immediately became an employee of the Association or become such an employee on the working day of the Association next following the date on which his or her resignation took effect; and
(iii) was a contributor to the Police Superannuation Scheme immediately before transferring to the employment of the Association; and
(b) is in the growth phase in the Police Association Superannuation Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: AS, ESR, NEA, B and C have the meanings given by subclause 3 (1). Fae,y+m has the meaning given by subclause 3 (2). R is the reduction factor under clause 4. |
3 Definition of terms and expressions
(1) In clause 2:
AS is the annual rate of the salary of the person as an employee of the Association that STC would consider if, at the relevant date, STC had approved the payment of an annual superannuation allowance to the person under subsection 3 (2) of the PAES Act.
B is the total number of days, in the period commencing on the day when section 3 of the PAES Act commenced to have effect in respect of the person and ending at the end of the relevant date, for which the person has paid:
(a) an amount or amounts equivalent to contributions that would have been deducted from his or her salary of office under section 5 of the PRS Act if he or she had not resigned office as a member of the police force; or
(b) an amount or amounts that he or she would have been required to pay under section 5A of the PRS Act, in respect of one or more periods of leave without pay or special leave without pay, if he or she had not resigned office as a member of the police force.
C is the total number of days, as at the relevant date (including, if applicable, that date) for which the person has paid:
(a) an amount or amounts equivalent to contributions that would have been deducted from his or her salary of office under section 5 of the PRS Act if he or she had not resigned office as a member of the police force; or
(b) an amount or amounts that he or she would have been required to pay under section 5A of the PRS Act, in respect of one or more periods of leave without pay or special leave without pay, if he or she had not resigned office as a member of the police force.
ESR is the equivalent service ratio of the person, at the relevant date, that is based on the service of the person as:
(a) an employee of the Association; and
(b) a former member of the police force.
NEA is the person’s notional employee account, being the sum of the amounts referred to in paragraphs 10 (1) (a), (b) and (c) of the Police Superannuation Regulation if STC were required to reduce the amount of the person’s benefit under subsection 14AA (1) of the PRS Act, at the relevant date.
(2) In clause 2:
Fae,y+m is calculated in accordance with the formula:
where:
Fae,y is the valuation factor mentioned in whichever of Table 1 or 2 of Division 6.4 is applicable, given:
(i) the person’s gender; and
(ii) the person’s age in completed years (y) at the relevant date; and
(iii) the person’s age at entry (ae).
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
Fae,y+1 is the valuation factor mentioned in whichever of Table 1 or 2 of Division 6.4 is applicable to the person if the person’s age in completed years at the relevant date were 1 year more than it is.
4 Reduction Factor
(1) Reduction factor is the amount worked out in accordance with clause 4 (the reduction clause) and clause 5 (the adjustment clause) of Division 5.2 of Part 5, subject to the following:
(a) AS, B, ESR and NEA have the meanings given by subclause 3 (1), unless required to be modified under the adjustment clause;
(b) C has the meaning given by subclause 3 (1) unless required to be modified under the reduction or adjustment clause;
(c) Fae,y+m has the meaning given by subclause 3 (2), unless required to be modified under the adjustment clause;
(d) if required to be modified under the reduction or adjustment clause, AS, B, C, ESR, NEA and Fae,y+m have the meanings given by subclause 3 (1) or (2) modified so that a reference to ‘the relevant date’ in relation to each of those terms is a reference to ‘the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order’;
(e) Cs is the total number of days, as at the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order (including, if applicable, that date), for which the person has paid:
(i) an amount or amounts equivalent to contributions that would have been deducted from his or her salary of office under section 5 of the PRS Act if he or she had not resigned office as a member of the police force; or
(ii) an amount or amounts that he or she would have been required to pay under section 5A of the PRS Act, in respect of one or more periods of leave without pay or special leave without pay, if he or she had not resigned as a member of the police force.
Division 6.3 Interests in the payment phase
5 Method for interests in Police Association Superannuation Scheme
For an interest that is held by a person in the Police Association Superannuation Scheme as a result of being paid an annual superannuation allowance under the PAES Act, the method set out in the following table is approved for section 4 of this instrument.
Method |
where: SA is the amount of annual superannuation allowance payable to the person in respect of the interest at the relevant date. SAFy+m is the amount calculated in accordance with the formula:
where: SAFy is the valuation factor mentioned in whichever of Table 3 or 4 of Division 6.4 is applicable, given: (a) the person’s gender; and (b) the person’s age in completed years at the relevant date (y); and (c) the type of superannuation allowance. m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date. |
SAFy+1 is the valuation factor mentioned in whichever of Table 3 or 4 of Division 6.4 is applicable if the person’s age in completed years at the relevant date were 1 year more than it is. |
Division 6.4 Factors
Table 1 Police Association Superannuation Scheme — male employees |
Age at relevant date | Age at Entry |
19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 |
34 | 2.1 | | | | | | | | | | | | | | | |
35 | 2.3 | 2.2 | | | | | | | | | | | | | | |
36 | 2.5 | 2.4 | 2.3 | | | | | | | | | | | | | |
37 | 2.7 | 2.6 | 2.5 | 2.4 | | | | | | | | | | | | |
38 | 3.0 | 2.9 | 2.7 | 2.6 | 2.5 | | | | | | | | | | | |
39 | 3.3 | 3.1 | 3.0 | 2.9 | 2.8 | 2.7 | | | | | | | | | | |
40 | 3.6 | 3.4 | 3.2 | 3.2 | 3.0 | 2.9 | 2.8 | | | | | | | | | |
41 | 3.8 | 3.7 | 3.6 | 3.4 | 3.3 | 3.1 | 3.0 | 2.9 | | | | | | | | |
42 | 4.0 | 3.9 | 3.9 | 3.8 | 3.6 | 3.5 | 3.3 | 3.1 | 3.0 | | | | | | | |
43 | 4.3 | 4.2 | 4.1 | 4.0 | 3.9 | 3.7 | 3.6 | 3.4 | 3.2 | 3.1 | | | | | | |
44 | 4.6 | 4.5 | 4.4 | 4.3 | 4.2 | 4.1 | 3.9 | 3.7 | 3.6 | 3.3 | 3.1 | | | | | |
45 | 4.8 | 4.7 | 4.7 | 4.6 | 4.5 | 4.4 | 4.3 | 4.0 | 3.8 | 3.6 | 3.4 | 3.2 | | | | |
46 | 5.1 | 5.0 | 4.9 | 4.9 | 4.8 | 4.7 | 4.6 | 4.5 | 4.2 | 3.9 | 3.7 | 3.4 | 3.3 | | | |
47 | 5.4 | 5.3 | 5.2 | 5.2 | 5.1 | 5.0 | 4.9 | 4.7 | 4.5 | 4.3 | 4.0 | 3.7 | 3.5 | 3.3 | | |
48 | 5.6 | 5.6 | 5.5 | 5.5 | 5.4 | 5.3 | 5.2 | 5.1 | 4.9 | 4.7 | 4.4 | 4.1 | 3.8 | 3.6 | 3.4 | |
49 | 5.9 | 5.9 | 5.8 | 5.8 | 5.7 | 5.6 | 5.5 | 5.4 | 5.2 | 5.0 | 4.8 | 4.5 | 4.2 | 3.9 | 3.6 | 3.4 |
50 | 6.2 | 6.2 | 6.1 | 6.1 | 6.0 | 6.0 | 5.9 | 5.8 | 5.6 | 5.3 | 5.1 | 4.9 | 4.6 | 4.3 | 3.9 | 3.7 |
51 | 6.5 | 6.5 | 6.4 | 6.4 | 6.4 | 6.3 | 6.2 | 6.1 | 5.9 | 5.8 | 5.4 | 5.3 | 5.0 | 4.6 | 4.3 | 4.0 |
52 | 6.8 | 6.8 | 6.7 | 6.7 | 6.7 | 6.6 | 6.6 | 6.4 | 6.3 | 6.1 | 5.8 | 5.6 | 5.3 | 5.0 | 4.7 | 4.5 |
53 | 7.1 | 7.1 | 7.1 | 7.1 | 7.0 | 7.0 | 6.9 | 6.8 | 6.6 | 6.4 | 6.2 | 6.0 | 5.7 | 5.5 | 5.2 | 4.8 |
54 | 7.4 | 7.4 | 7.4 | 7.4 | 7.4 | 7.4 | 7.4 | 7.2 | 7.0 | 6.9 | 6.5 | 6.5 | 6.2 | 5.8 | 5.6 | 5.2 |
55 | 7.8 | 7.8 | 7.8 | 7.8 | 7.7 | 7.7 | 7.7 | 7.6 | 7.4 | 7.2 | 7.0 | 6.8 | 6.5 | 6.2 | 6.0 | 5.6 |
56 | 7.9 | 7.9 | 7.9 | 7.9 | 7.9 | 7.8 | 7.8 | 7.8 | 7.7 | 7.6 | 7.4 | 7.2 | 6.9 | 6.6 | 6.3 | 5.9 |
57 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 7.9 | 7.7 | 7.5 | 7.3 | 6.9 | 6.7 | 6.5 |
58 | 8.3 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 | 8.1 | 7.9 | 7.5 | 7.3 | 7.0 | 6.8 |
59 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.2 | 8.0 | 7.8 | 7.5 | 7.2 |
60 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.4 | 8.2 | 8.0 | 7.7 |
61 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.4 | 8.3 | 8.0 |
62 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.5 | 8.2 |
63 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.3 |
64 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 | 8.4 |
65 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 |
Table 2 Police Association Superannuation Scheme — female employees |
Age at relevant date | Age at Entry |
19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 |
34 | 2.1 | | | | | | | | | | | | | | | |
35 | 2.2 | 2.2 | | | | | | | | | | | | | | |
36 | 2.4 | 2.3 | 2.3 | | | | | | | | | | | | | |
37 | 2.7 | 2.6 | 2.4 | 2.4 | | | | | | | | | | | | |
38 | 2.9 | 2.8 | 2.7 | 2.6 | 2.5 | | | | | | | | | | | |
39 | 3.2 | 3.1 | 3.0 | 2.8 | 2.7 | 2.6 | | | | | | | | | | |
40 | 3.5 | 3.4 | 3.2 | 3.1 | 3.0 | 2.8 | 2.8 | | | | | | | | | |
41 | 3.7 | 3.6 | 3.5 | 3.4 | 3.3 | 3.1 | 3.0 | 2.9 | | | | | | | | |
42 | 4.0 | 3.9 | 3.8 | 3.7 | 3.5 | 3.4 | 3.3 | 3.1 | 3.0 | | | | | | | |
43 | 4.3 | 4.2 | 4.1 | 4.0 | 3.9 | 3.7 | 3.6 | 3.4 | 3.2 | 3.1 | | | | | | |
44 | 4.5 | 4.5 | 4.4 | 4.3 | 4.2 | 4.1 | 3.9 | 3.7 | 3.6 | 3.3 | 3.1 | | | | | |
45 | 4.8 | 4.7 | 4.7 | 4.6 | 4.5 | 4.4 | 4.3 | 4.0 | 3.8 | 3.6 | 3.4 | 3.2 | | | | |
46 | 5.1 | 5.0 | 5.0 | 4.9 | 4.8 | 4.7 | 4.6 | 4.5 | 4.2 | 4.0 | 3.7 | 3.4 | 3.3 | | | |
47 | 5.4 | 5.4 | 5.2 | 5.2 | 5.1 | 5.0 | 4.9 | 4.8 | 4.6 | 4.3 | 4.0 | 3.8 | 3.6 | 3.3 | | |
48 | 5.7 | 5.6 | 5.6 | 5.5 | 5.5 | 5.4 | 5.3 | 5.1 | 5.0 | 4.8 | 4.5 | 4.2 | 3.9 | 3.6 | 3.4 | |
49 | 6.0 | 6.0 | 5.9 | 5.8 | 5.8 | 5.7 | 5.6 | 5.5 | 5.3 | 5.1 | 4.9 | 4.6 | 4.3 | 3.9 | 3.7 | 3.5 |
50 | 6.3 | 6.3 | 6.2 | 6.2 | 6.1 | 6.1 | 6.0 | 5.9 | 5.7 | 5.4 | 5.2 | 5.0 | 4.7 | 4.4 | 4.0 | 3.7 |
51 | 6.6 | 6.6 | 6.5 | 6.5 | 6.5 | 6.4 | 6.3 | 6.2 | 6.0 | 5.9 | 5.5 | 5.4 | 5.1 | 4.7 | 4.4 | 4.1 |
52 | 6.9 | 6.9 | 6.9 | 6.9 | 6.8 | 6.8 | 6.7 | 6.6 | 6.4 | 6.2 | 6.0 | 5.7 | 5.4 | 5.1 | 4.8 | 4.6 |
53 | 7.3 | 7.3 | 7.2 | 7.2 | 7.2 | 7.2 | 7.1 | 7.0 | 6.8 | 6.6 | 6.4 | 6.1 | 5.9 | 5.6 | 5.3 | 4.9 |
54 | 7.6 | 7.6 | 7.6 | 7.6 | 7.6 | 7.5 | 7.5 | 7.4 | 7.2 | 7.1 | 6.7 | 6.6 | 6.4 | 5.9 | 5.8 | 5.3 |
55 | 8.0 | 8.0 | 8.0 | 8.0 | 7.9 | 8.0 | 7.9 | 7.8 | 7.6 | 7.4 | 7.2 | 7.0 | 6.7 | 6.4 | 6.1 | 5.7 |
56 | 8.1 | 8.1 | 8.1 | 8.1 | 8.1 | 8.1 | 8.0 | 8.0 | 7.9 | 7.8 | 7.6 | 7.4 | 7.1 | 6.8 | 6.5 | 6.1 |
57 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.2 | 8.2 | 8.1 | 8.0 | 7.8 | 7.6 | 7.1 | 6.9 | 6.7 |
58 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.4 | 8.3 | 8.2 | 7.8 | 7.5 | 7.2 | 7.0 |
59 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.5 | 8.2 | 8.1 | 7.6 | 7.4 |
60 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 8.7 | 8.4 | 8.1 | 7.8 |
61 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 8.9 | 8.5 | 8.4 | 8.1 |
62 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 8.9 | 9.0 | 8.6 | 8.4 |
63 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.7 | 8.6 |
64 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.7 | 8.6 |
65 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 |
Table 3 Police Association Superannuation Scheme — Payment phase — males |
Age in
Completed Years | Age Retirement Superannuation Allowance (s 3 (2)) | Invalid Superannuation Allowance (s 3 (2) with certification under s. 8 of PRS Act) | Reversionary Superannuation Allowance (ss 3 (9), (10) and (10AA)) |
25 | 23.53 | 22.02 | 23.24 |
26 | 23.43 | 21.90 | 23.13 |
27 | 23.32 | 21.78 | 23.01 |
28 | 23.22 | 21.66 | 22.89 |
29 | 23.10 | 21.53 | 22.76 |
30 | 22.99 | 21.39 | 22.63 |
31 | 22.86 | 21.25 | 22.49 |
32 | 22.74 | 21.10 | 22.34 |
33 | 22.61 | 20.96 | 22.19 |
34 | 22.47 | 20.81 | 22.04 |
35 | 22.33 | 20.65 | 21.88 |
36 | 22.18 | 20.49 | 21.72 |
37 | 22.03 | 20.32 | 21.54 |
38 | 21.87 | 20.14 | 21.36 |
39 | 21.70 | 19.96 | 21.18 |
40 | 21.53 | 19.78 | 20.99 |
41 | 21.33 | 19.55 | 20.79 |
42 | 21.13 | 19.33 | 20.59 |
43 | 20.92 | 19.09 | 20.37 |
44 | 20.70 | 18.85 | 20.15 |
45 | 20.47 | 18.60 | 19.92 |
46 | 20.16 | 18.21 | 19.69 |
47 | 19.84 | 17.83 | 19.44 |
48 | 19.51 | 17.44 | 19.19 |
49 | 19.17 | 17.06 | 18.93 |
50 | 18.83 | 16.68 | 18.66 |
51 | 18.47 | 16.31 | 18.39 |
52 | 18.19 | 16.05 | 18.10 |
53 | 17.89 | 15.79 | 17.81 |
54 | 17.58 | 15.52 | 17.50 |
55 | 17.27 | 15.25 | 17.19 |
56 | 16.94 | 14.97 | 16.87 |
57 | 16.61 | 14.68 | 16.53 |
58 | 16.26 | 14.38 | 16.19 |
59 | 15.90 | 14.08 | 15.83 |
60 | 15.53 | 13.77 | 15.47 |
61 | 15.16 | 13.45 | 15.10 |
62 | 14.77 | 13.12 | 14.72 |
63 | 14.38 | 12.78 | 14.33 |
64 | 13.98 | 12.44 | 13.93 |
65 | 13.57 | 12.10 | 13.52 |
66 | 13.15 | 11.74 | 13.11 |
67 | 12.72 | 11.38 | 12.69 |
68 | 12.28 | 11.01 | 12.26 |
69 | 11.83 | 10.63 | 11.81 |
70 | 11.38 | 10.26 | 11.36 |
71 | 10.91 | 9.88 | 10.90 |
72 | 10.43 | 9.51 | 10.43 |
73 | 9.95 | 9.13 | 9.96 |
74 | 9.47 | 8.75 | 9.48 |
75 | 8.98 | 8.37 | 8.99 |
76 | 8.48 | 7.99 | 8.50 |
77 | 8.00 | 7.61 | 8.03 |
78 | 7.54 | 7.24 | 7.57 |
79 | 7.09 | 6.87 | 7.12 |
80 | 6.67 | 6.51 | 6.70 |
81 | 6.28 | 6.16 | 6.31 |
82 | 5.91 | 5.82 | 5.94 |
83 | 5.57 | 5.49 | 5.60 |
84 | 5.25 | 5.18 | 5.28 |
85 | 4.95 | 4.89 | 4.98 |
86 | 4.66 | 4.61 | 4.69 |
87 | 4.38 | 4.33 | 4.41 |
88 | 4.11 | 4.07 | 4.14 |
89 | 3.86 | 3.82 | 3.89 |
90 | 3.61 | 3.57 | 3.64 |
91 | 3.37 | 3.34 | 3.40 |
92 | 3.15 | 3.11 | 3.17 |
93 | 2.93 | 2.91 | 2.96 |
94 | 2.74 | 2.72 | 2.76 |
95 | 2.56 | 2.54 | 2.58 |
96 | 2.40 | 2.38 | 2.42 |
97 | 2.25 | 2.24 | 2.27 |
98 | 2.12 | 2.10 | 2.13 |
99 or more | 1.99 | 1.97 | 2.00 |
Table 4 Police Association Superannuation Scheme — Payment phase — females |
Age in
Completed Years | Age Retirement Superannuation Allowance (s 3 (2)) | Invalid Superannuation Allowance (s 3 (2) with certification under s 8 of PRS Act) | Reversionary Superannuation Allowance (ss 3 (9), (10) and (10AA)) |
25 | 23.84 | 22.19 | 23.80 |
26 | 23.75 | 22.05 | 23.70 |
27 | 23.65 | 21.91 | 23.60 |
28 | 23.55 | 21.76 | 23.49 |
29 | 23.44 | 21.61 | 23.38 |
30 | 23.33 | 21.45 | 23.26 |
31 | 23.22 | 21.29 | 23.14 |
32 | 23.10 | 21.13 | 23.02 |
33 | 22.98 | 20.96 | 22.89 |
34 | 22.85 | 20.79 | 22.75 |
35 | 22.72 | 20.61 | 22.61 |
36 | 22.58 | 20.43 | 22.47 |
37 | 22.44 | 20.24 | 22.32 |
38 | 22.29 | 20.05 | 22.17 |
39 | 22.14 | 19.85 | 22.01 |
40 | 21.98 | 19.65 | 21.84 |
41 | 21.78 | 19.32 | 21.67 |
42 | 21.58 | 18.99 | 21.49 |
43 | 21.40 | 18.77 | 21.31 |
44 | 21.21 | 18.54 | 21.12 |
45 | 21.02 | 18.30 | 20.92 |
46 | 20.82 | 18.07 | 20.71 |
47 | 20.61 | 17.83 | 20.50 |
48 | 20.39 | 17.59 | 20.28 |
49 | 20.17 | 17.35 | 20.06 |
50 | 19.94 | 17.11 | 19.83 |
51 | 19.69 | 16.84 | 19.59 |
52 | 19.45 | 16.60 | 19.34 |
53 | 19.19 | 16.35 | 19.08 |
54 | 18.93 | 16.10 | 18.82 |
55 | 18.66 | 15.85 | 18.54 |
56 | 18.37 | 15.60 | 18.26 |
57 | 18.08 | 15.34 | 17.97 |
58 | 17.78 | 15.08 | 17.67 |
59 | 17.48 | 14.82 | 17.37 |
60 | 17.17 | 14.55 | 17.06 |
61 | 16.85 | 14.28 | 16.74 |
62 | 16.52 | 14.01 | 16.41 |
63 | 16.19 | 13.73 | 16.08 |
64 | 15.85 | 13.44 | 15.74 |
65 | 15.49 | 13.14 | 15.39 |
66 | 15.13 | 12.84 | 15.03 |
67 | 14.77 | 12.53 | 14.67 |
68 | 14.39 | 12.21 | 14.30 |
69 | 14.00 | 11.89 | 13.91 |
70 | 13.61 | 11.57 | 13.53 |
71 | 13.21 | 11.24 | 13.13 |
72 | 12.80 | 10.90 | 12.73 |
73 | 12.38 | 10.56 | 12.32 |
74 | 11.96 | 10.22 | 11.90 |
75 | 11.53 | 9.86 | 11.48 |
76 | 11.10 | 9.51 | 11.06 |
77 | 10.67 | 9.14 | 10.63 |
78 | 10.23 | 8.76 | 10.21 |
79 | 9.80 | 8.36 | 9.78 |
80 | 9.37 | 7.96 | 9.35 |
81 | 8.94 | 7.55 | 8.93 |
82 | 8.51 | 7.15 | 8.51 |
83 | 8.09 | 6.75 | 8.09 |
84 | 7.66 | 6.35 | 7.67 |
85 | 7.25 | 5.97 | 7.27 |
86 | 6.85 | 5.60 | 6.87 |
87 | 6.47 | 5.25 | 6.49 |
88 | 6.11 | 4.91 | 6.13 |
89 | 5.76 | 4.60 | 5.79 |
90 | 5.43 | 4.31 | 5.46 |
91 | 5.13 | 4.05 | 5.16 |
92 | 4.84 | 3.80 | 4.87 |
93 | 4.57 | 3.57 | 4.60 |
94 | 4.30 | 3.35 | 4.33 |
95 | 4.04 | 3.14 | 4.07 |
96 | 3.78 | 2.93 | 3.81 |
97 | 3.52 | 2.72 | 3.55 |
98 | 3.26 | 2.50 | 3.28 |
99 or more | 2.97 | 2.26 | 2.99 |
Part 7 New South Wales State Authorities Superannuation Scheme
Division 7.1 Definitions
1 Definitions
(1) In this Part:
1927 Act means the Local Government and Other Authorities (Superannuation) Act 1927 (NSW).
current insurance policy has the meaning given by clause 3 of the State Authorities Superannuation (Closed Local Government Schemes Transfer) (Savings and Transitional) Regulation 1990 (NSW).
SAS Act means the State Authorities Superannuation Act 1987 (NSW).
SAS Scheme means the superannuation scheme constituted by the SAS Act.
transferred contributor has the meaning given by the State Authorities Superannuation (State Public Service Superannuation Scheme Transfer) (Savings and Transitional) Regulation 1989 (NSW).
(2) A reference in this Part to the requirements of Division 2.2 of the Regulations being satisfied does not include a reference to the requirements of that Division being satisfied by making a payment of the kind mentioned in regulation 14H of the Regulations.
(3) An expression used in this Part and in the SAS Act or in a provision of that Act has the same meaning in this Part as it has in the SAS Act or a provision of that Act.
Note 1 The following expressions are defined in subsection 3 (1) of the SAS Act:
benefit
contributor‑financed benefit
contributor’s account
early retirement age
employee
employer‑financed benefit
entry date
executive officer
Fund
STC.
Note 2 The following expression is defined in subsection 29 (1) of the SAS Act:
leave without pay.
Note 3 The following expressions are defined in section 36 of the SAS Act:
accrued benefit points
final average salary.
(4) An expression used in this Part and in the 1927 Act or in a provision of that Act has the same meaning in this Part as it has in the 1927 Act or in a provision of that Act.
Note The following expressions are defined in section 3 of the 1927 Act:
Benefits Fund
Provident Fund.
Division 7.2 Interests in the growth phase
Subdivision 7.2.1 Employees (general)
2 Method for interests in SAS Scheme
For an interest that is in the growth phase in the SAS Scheme and that is held by an employee other than:
(a) an employee who is a former holder of a current insurance policy; or
(b) an employee who is a former contributor to the Provident Fund; or
(c) an employee who is a former contributor to the Benefits Fund; or
(d) an employee who is an executive officer who elected to make provision for a benefit in accordance with paragraph 30A (1) (b) of the SAS Act; or
(e) an employee to whom Part 1 of Schedule 5 to the SAS Act applies; or
(f) an employee who, at 55 years or over, has elected to make provision for a benefit in accordance with Part 2 of Schedule 5 to the SAS Act;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: CFB is the person’s contributor‑financed benefit that would be payable from the contributor’s account of the person if the person were to receive a benefit under Part 5 of the SAS Act at the relevant date. ABP is a person’s accrued benefit points at the relevant date. PAF has the meaning given by subclause 3 (1). B is the number of days in the period: (a) commencing on the later of a person’s entry date and 1 July 1988; and (b) ending at the end of the relevant date; other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay. C is the number of the days in the period: (a) commencing on the person’s entry date; and (b) ending at the end of the relevant date; other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay. AR is a person’s rate of accrual, being whichever of the following is applicable: (a) if the person is a transferred contributor — 0.03; (b) in any other case — 0.025. FAS is the person’s final average salary at the relevant date. Fy+m has the meaning given by subclause 3 (2). R is the reduction factor under clause 4. |
3 Definitions of PAF and Fy+m
(1) In clause 2:
PAF is the person’s accrued benefit points adjustment factor, being the lesser of:
(a) 1; and
(b) the factor calculated in accordance with the formula:
;
where:
age at entry is the person’s age in years, including any fraction of a year, at that person’s entry date.
fraction of a year means the quotient of the number of days in the period commencing on the person’s last birthday and ending at the person’s entry date, and:
(a) if the date ‘29 February’ has occurred in that period or will occur before the person’s next birthday — 366; or
(b) in any other case — 365.
(2) In clause 2:
Fy+m is the factor calculated in accordance with the formula:
where:
Fy is the valuation factor mentioned in whichever of Table 1 to 7 of Division 7.4 is applicable, given:
(a) the person’s gender; and
(b) the person’s age in completed years at the relevant date (y); and
(c) the person’s age at the person’s entry date; and
(d) if the person was under 28 years at the person’s entry date, the average rate at which that person has accumulated accrued benefit points calculated in accordance with the formula:
where:
ABP and C have the meanings given by clause 2.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
Fy+1 is the valuation factor in whichever of Table 1 to 7 of Division 7.4 is applicable to the person if the person’s age in completed years at the relevant date were 1 year more than it is.
4 Reduction factor
(1) Reduction factor is:
(a) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the amount calculated in accordance with the formula set out in subclause (2); or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the amounts calculated in accordance with the formula set out in subclause (2) in respect of each entitlement; or
(c) in any other case — 1.
(2) For paragraphs (1) (a) and (b), each amount is calculated in accordance with the formula:
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in the table following clause 2.
ABPs is a person’s accrued benefit points at the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order.
Bs is the number of days in the period:
(a) commencing on the later of the person’s entry date and 1 July 1988; and
(b) ending on the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order (including, if applicable, that date);
other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay.
Cs is the number of the days in the period:
(a) commencing on the person’s entry date; and
(b) ending on the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order (including, if applicable, that date);
other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay.
ABP, B and C have the meanings given by clause 2.
Subdivision 7.2.2 Employees (Closed Local Government Schemes)
5 Method for interests in SAS Scheme
(1) For an interest that is in the growth phase in the SAS Scheme and that is held by an employee:
(a) who has not elected to make provision for a benefit in accordance with Part 2 of Schedule 5 to the SAS Act; and
(b) who is not an employee to whom Part 1 of Schedule 5 to the SAS Act applies; and
(c) who is:
(i) a former holder of a current insurance policy; or
(ii) a former contributor to the Provident Fund; or
(iii) a former contributor to the Benefits Fund;
the method set out in the following table is approved for section 4 of this instrument.
Method |
Step 1 Calculate the gross value of the interest in accordance with the method set out in clause 2. |
Step 2 Calculate the gross value of the interest in accordance with the following formula: CFB + NA – NMSA where: CFB is the person’s contributor‑financed benefit that would be payable from the contributor’s account of the person if the person were to receive a benefit under Part 5 of the SAS Act at the relevant date. NA is the person’s notional accumulation at the relevant date, being: (a) for a person who was a holder of a current insurance policy or a contributor to the Provident Fund — the person’s notional accumulation determined in accordance with clause 10 of the State Authorities Superannuation (Closed Local Government Schemes Transfer) (Savings and Transitional) Regulation 1990 (NSW); or (b) for a person who was a contributor to the Benefits Fund — the person’s notional accumulation determined in accordance with clause 17 of that Regulation. NMSA has the meaning given by subclause (2). |
Step 3 Compare the gross values calculated in accordance with steps 1 and 2. The greater of those values is the value of the interest. |
(2) In subclause (1):
NMSA is:
(a) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest, the sum of:
(i) the value of the entitlement of the spouse to the interest immediately before the time when the Division 2.2 requirements were satisfied; and
(ii) the amount of the adjustment (if any) that STC would make under section 16 of the SAS Act if:
(A) STC were to pay to the person the balance of his or her contributor’s account at the relevant date; and
(B) the balance of that account had remained equal to the value of the spouse’s entitlement in the period commencing at the time when the Division 2.2 requirements were satisfied and ending at the relevant date; or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of 2 or more spouses of the person, being entitlements each arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest, the sum of:
(i) the value of the entitlement of each spouse under the agreement or order immediately before the time when the Division 2.2 requirements were satisfied in respect of that agreement or order; and
(ii) the amount of the adjustment (if any) that STC would make under section 16 of the SAS Act in respect of the entitlement of each spouse, if:
(A) STC were to pay to the person the balance of his or her contributor’s account had the person applied for payment of a benefit under Part 5 of that Act at the relevant date; and
(B) the balance of that account had remained equal to the value of each spouse’s entitlement under the agreement or order in the period commencing at the time when the Division 2.2 requirements were satisfied and ending at the relevant date in respect of each interest; or
(c) in any other case — nil.
Subdivision 7.2.3 Deferred beneficiaries
6 Method for interests in SAS Scheme
For an interest:
(a) that is held by a person who is entitled, in the event of death, to the benefit provided by subsection 43 (6) of the SAS Act; and
(b) that is in the growth phase in the SAS Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Note This method applies to former employees and to employees:
(a) who are taken to have made provision for a deferred benefit in accordance with Part 1 of Schedule 5 to the SAS Act because they transferred their superannuation coverage and became contributors to another superannuation scheme; and
(b) who, after a salary reduction when they turned 55 years or more, elected to make provision for a benefit in accordance with Part 2 of Schedule 5 to the SAS Act; and
(c) who are executive officers who elected to make provision for a benefit in accordance with paragraph 30A (1) (b) of the SAS Act.
Method |
where: CFB is the amount that would be payable from the contributor’s account of the person if the person had applied for payment of a benefit at the relevant date. EFB is the person’s employer‑financed benefit calculated in accordance with paragraph 43 (6) (b) of the SAS Act if the person had died on the relevant date. Dy+m has the meaning given by clause 7. R is the reduction factor under clause 8. |
7 Definition of Dy+m
(1) In clause 6:
Dy+m is:
(a) if subsection (2) applies — 1; or
(b) otherwise — the factor calculated in accordance with the formula set out in subclause (3).
(2) For paragraph (a) of the definition of Dy+m in subsection (1), this subsection applies if:
(a) the person has reached the person’s early retirement age; or
(b) the person elected to make provision for a benefit in accordance with paragraph 30A (1) (b) of the SAS Act; or
(c) the person elected to make provision for a benefit in accordance with Part 2 of Schedule 5 to the SAS Act when the person was at least 55 years.
(3) For paragraph (1) (b), the factor calculated in accordance with the formula:
where:
Dy is the valuation factor mentioned in Table 8 of Division 7.4 that is applicable given the number of complete years (y) in the period commencing on the relevant date and ending on the date when the person reaches the person’s early retirement age.
m is the number of complete months that are not included in the number of complete years in the period commencing on the relevant date and ending on the date when the person reaches the person’s early retirement age.
Dy+1 is the valuation factor mentioned in Table 8 of Division 7.4 that is applicable to the person if the number of complete years (y) in the period commencing on the relevant date and ending on the date when the person reaches the person’s early retirement age were 1 year more than it is.
8 Reduction factor
(1) Reduction factor is:
(a) if paragraphs (b), (c) and (d) do not apply — 1; or
(b) if:
(i) the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest; and
(ii) the requirements mentioned in subparagraph (i) were satisfied after the person became entitled, in the event of death, to the benefit provided in accordance with subsection 43 (6) of the SAS Act;
the amount calculated in accordance with the formula set out in subclause (2); or
(c) if:
(i) the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest; and
(ii) the requirements mentioned in subparagraph (i) were satisfied before the person became entitled, in the event of death, to the benefit provided in accordance with subsection 43 (6) of the SAS Act;
the amount calculated in accordance with the formula set out in subclause (3); or
(d) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlements of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the product of the amounts calculated in accordance with whichever of paragraph (b) or (c) is applicable, in respect of each entitlement.
(2) For paragraph (1) (b), the amount is to be calculated in accordance with the formula:
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement to the interest under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in the table following clause 6.
(3) For paragraph (1) (c), the amount is to be calculated in accordance with the formula:
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement to the interest under the agreement or order immediately before the requirements of Division 2.2 of the Regulations were satisfied; and
(b) either:
(i) for a person who, when the requirements of Division 2.2 of the Regulations were satisfied, was an employee, other than an employee mentioned in paragraph 2 (a), (b), (c), (d), (e) or (f) — the gross value of the person’s interest, immediately before the requirements were satisfied, determined in accordance with the method set out in the table in clause 2; or
(ii) for a person who, when the requirements of Division 2.2 of the Regulations were satisfied, was an employee mentioned in subclause 5 (1) — the gross value of the person’s interest, immediately before the requirements were satisfied, determined in accordance with the method set out in the table in clause 5.
ABPs, Bs, and Cs have the meanings given by subclause 4 (2).
ABPe is a person’s accrued benefit points as at the date when the person became entitled, in the event of death, to the benefit provided in accordance with subsection 43 (6) of the SAS Act.
Be is the number of days in the period:
(a) commencing on the later of the person’s entry date and 1 July 1988; and
(b) ending at the end of the date when the person became entitled, in the event of death, to the benefit provided in accordance with subsection 43 (6) of the SAS Act;
other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay.
Ce is the total number of days in the period:
(a) commencing on the person’s entry date; and
(b) ending at the end of the date when the person became entitled, in the event of death, to the benefit provided in accordance with subsection 43 (6) of the SAS Act;
other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay.
Division 7.3 Interests in the payment phase
9 Method for interests in SAS Scheme
For an interest:
(a) that is held by a person who is entitled to be paid a pension under the SAS scheme; and
(b) that is in the payment phase in the SAS Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: P is the amount of person’s annual pension at the relevant date. PFy+m is the factor calculated in accordance with the formula: 
where: PFy is the valuation factor mentioned in whichever of Table 9 or 10 of Division 7.4 is applicable given: (a) the person’s gender; and (b) the person’s age in completed years (y) at the relevant date; and (c) the type of pension. m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date. PFy+1 is the valuation factor mentioned in whichever of Table 9 or 10 of Division 7.4 is applicable if the person’s age in completed years at the relevant date were 1 year more than it is. |
Division 7.4 Factors
Table 1 Valuation factors — females who are under 18 years on entry to SAS Scheme |
Employee’s age in completed years | Average rate of benefit point accrual (abpa) |
abpa 0.04 | 0.04< abpa <0.045 | 0.045abpa< 0.05 | 0.05abpa< 0.055 | 0.055abpa< 0.06 | abpa=0.06 |
26 | 0.4285 | 0.4237 | 0.4048 | 0.3862 | 0.3687 | 0.3604 |
27 | 0.4414 | 0.4363 | 0.4162 | 0.3964 | 0.3777 | 0.3689 |
28 | 0.4547 | 0.4492 | 0.4279 | 0.4067 | 0.3868 | 0.3775 |
29 | 0.4683 | 0.4626 | 0.4398 | 0.4173 | 0.3961 | 0.3861 |
30 | 0.4825 | 0.4763 | 0.4520 | 0.4280 | 0.4055 | 0.3949 |
31 | 0.4969 | 0.4904 | 0.4646 | 0.4390 | 0.4150 | 0.4037 |
32 | 0.5105 | 0.5035 | 0.4762 | 0.4491 | 0.4235 | 0.4116 |
33 | 0.5243 | 0.5169 | 0.4880 | 0.4593 | 0.4323 | 0.4197 |
34 | 0.5383 | 0.5305 | 0.4999 | 0.4697 | 0.4413 | 0.4279 |
35 | 0.5524 | 0.5442 | 0.5121 | 0.4803 | 0.4504 | 0.4363 |
36 | 0.5667 | 0.5581 | 0.5244 | 0.4910 | 0.4596 | 0.4449 |
37 | 0.5812 | 0.5722 | 0.5370 | 0.5021 | 0.4692 | 0.4538 |
38 | 0.5960 | 0.5866 | 0.5498 | 0.5133 | 0.4789 | 0.4628 |
39 | 0.6110 | 0.6012 | 0.5628 | 0.5248 | 0.4890 | 0.4722 |
40 | 0.6263 | 0.6161 | 0.5761 | 0.5364 | 0.4991 | 0.4816 |
41 | 0.6416 | 0.6310 | 0.5893 | 0.5480 | 0.5092 | 0.4910 |
42 | 0.6571 | 0.6460 | 0.6026 | 0.5597 | 0.5193 | 0.5003 |
43 | 0.6727 | 0.6612 | 0.6160 | 0.5713 | 0.5292 | 0.5095 |
44 | 0.6886 | 0.6766 | 0.6295 | 0.5829 | 0.5390 | 0.5184 |
45 | 0.7047 | 0.6922 | 0.6431 | 0.5944 | 0.5487 | 0.5272 |
46 | 0.7210 | 0.7079 | 0.6566 | 0.6058 | 0.5580 | 0.5356 |
47 | 0.7375 | 0.7238 | 0.6701 | 0.6170 | 0.5670 | 0.5617 |
48 | 0.7541 | 0.7398 | 0.6835 | 0.6278 | 0.5882 | 0.5882 |
49 | 0.7708 | 0.7558 | 0.6967 | 0.6383 | 0.6154 | 0.6154 |
50 | 0.7877 | 0.7719 | 0.7098 | 0.6483 | 0.6431 | 0.6431 |
51 | 0.8047 | 0.7880 | 0.7226 | 0.6715 | 0.6715 | 0.6715 |
52 | 0.8216 | 0.8040 | 0.7348 | 0.7003 | 0.7003 | 0.7003 |
53 | 0.8385 | 0.8199 | 0.7466 | 0.7298 | 0.7298 | 0.7298 |
54 | 0.8555 | 0.8357 | 0.7600 | 0.7600 | 0.7600 | 0.7600 |
55 | 0.8726 | 0.8515 | 0.7913 | 0.7913 | 0.7913 | 0.7913 |
56 | 0.8898 | 0.8674 | 0.8239 | 0.8239 | 0.8239 | 0.8239 |
57 | 0.9072 | 0.8833 | 0.8577 | 0.8577 | 0.8577 | 0.8577 |
58 | 0.9252 | 0.8996 | 0.8935 | 0.8935 | 0.8935 | 0.8935 |
59 | 0.9316 | 0.9136 | 0.9136 | 0.9136 | 0.9136 | 0.9136 |
60 | 0.9424 | 0.9424 | 0.9424 | 0.9424 | 0.9424 | 0.9424 |
61 | 0.9501 | 0.9501 | 0.9501 | 0.9501 | 0.9501 | 0.9501 |
62 | 0.9576 | 0.9576 | 0.9576 | 0.9576 | 0.9576 | 0.9576 |
63 | 0.9681 | 0.9681 | 0.9681 | 0.9681 | 0.9681 | 0.9681 |
64 | 0.9836 | 0.9836 | 0.9836 | 0.9836 | 0.9836 | 0.9836 |
65 or more | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
Table 2 Valuation factors — males who are under 18 years on entry to SAS Scheme |
Employee’s age in completed years | Average rate of benefit point accrual (abpa) |
abpa 0.04 | 0.04< abpa <0.045 | 0.045abpa< 0.05 | 0.05abpa< 0.055 | 0.055abpa< 0.06 | abpa=0.06 |
26 | 0.4398 | 0.4337 | 0.4095 | 0.3868 | 0.3661 | 0.3565 |
27 | 0.4521 | 0.4457 | 0.4204 | 0.3965 | 0.3748 | 0.3648 |
28 | 0.4647 | 0.4579 | 0.4314 | 0.4064 | 0.3836 | 0.3731 |
29 | 0.4775 | 0.4705 | 0.4426 | 0.4164 | 0.3926 | 0.3816 |
30 | 0.4906 | 0.4832 | 0.4540 | 0.4266 | 0.4016 | 0.3900 |
31 | 0.5040 | 0.4963 | 0.4657 | 0.4370 | 0.4108 | 0.3987 |
32 | 0.5174 | 0.5093 | 0.4773 | 0.4472 | 0.4198 | 0.4071 |
33 | 0.5308 | 0.5223 | 0.4889 | 0.4574 | 0.4288 | 0.4155 |
34 | 0.5441 | 0.5353 | 0.5004 | 0.4676 | 0.4376 | 0.4238 |
35 | 0.5576 | 0.5484 | 0.5120 | 0.4777 | 0.4465 | 0.4321 |
36 | 0.5712 | 0.5616 | 0.5236 | 0.4879 | 0.4554 | 0.4404 |
37 | 0.5850 | 0.5750 | 0.5354 | 0.4983 | 0.4644 | 0.4487 |
38 | 0.5989 | 0.5884 | 0.5473 | 0.5086 | 0.4733 | 0.4570 |
39 | 0.6129 | 0.6021 | 0.5593 | 0.5190 | 0.4823 | 0.4654 |
40 | 0.6272 | 0.6159 | 0.5714 | 0.5296 | 0.4914 | 0.4738 |
41 | 0.6417 | 0.6300 | 0.5837 | 0.5403 | 0.5007 | 0.4824 |
42 | 0.6565 | 0.6443 | 0.5963 | 0.5511 | 0.5100 | 0.4910 |
43 | 0.6715 | 0.6589 | 0.6090 | 0.5621 | 0.5194 | 0.4996 |
44 | 0.6868 | 0.6737 | 0.6219 | 0.5731 | 0.5287 | 0.5082 |
45 | 0.7024 | 0.6887 | 0.6349 | 0.5842 | 0.5381 | 0.5168 |
46 | 0.7183 | 0.7040 | 0.6481 | 0.5954 | 0.5474 | 0.5252 |
47 | 0.7344 | 0.7196 | 0.6614 | 0.6066 | 0.5567 | 0.5514 |
48 | 0.7508 | 0.7354 | 0.6747 | 0.6176 | 0.5781 | 0.5781 |
49 | 0.7674 | 0.7513 | 0.6880 | 0.6284 | 0.6056 | 0.6056 |
50 | 0.7843 | 0.7675 | 0.7013 | 0.6391 | 0.6339 | 0.6339 |
51 | 0.8012 | 0.7836 | 0.7145 | 0.6629 | 0.6629 | 0.6629 |
52 | 0.8183 | 0.7999 | 0.7275 | 0.6927 | 0.6927 | 0.6927 |
53 | 0.8357 | 0.8164 | 0.7404 | 0.7235 | 0.7235 | 0.7235 |
54 | 0.8533 | 0.8330 | 0.7553 | 0.7553 | 0.7553 | 0.7553 |
55 | 0.8712 | 0.8499 | 0.7883 | 0.7883 | 0.7883 | 0.7883 |
56 | 0.8895 | 0.8670 | 0.8226 | 0.8226 | 0.8226 | 0.8226 |
57 | 0.9081 | 0.8844 | 0.8585 | 0.8585 | 0.8585 | 0.8585 |
58 | 0.9272 | 0.9021 | 0.8960 | 0.8960 | 0.8960 | 0.8960 |
59 | 0.9339 | 0.9166 | 0.9166 | 0.9166 | 0.9166 | 0.9166 |
60 | 0.9422 | 0.9422 | 0.9422 | 0.9422 | 0.9422 | 0.9422 |
61 | 0.9515 | 0.9515 | 0.9515 | 0.9515 | 0.9515 | 0.9515 |
62 | 0.9592 | 0.9592 | 0.9592 | 0.9592 | 0.9592 | 0.9592 |
63 | 0.9715 | 0.9715 | 0.9715 | 0.9715 | 0.9715 | 0.9715 |
64 | 0.9853 | 0.9853 | 0.9853 | 0.9853 | 0.9853 | 0.9853 |
65 or more | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
Table 3 Valuation factors — females who are 18 to 22 years on entry to SAS Scheme | |
Employee’s age in completed years | Average rate of benefit point accrual (abpa) | |
abpa 0.045 | 0.045<abpa< 0.05 | 0.05abpa< 0.055 | 0.055abpa< 0.06 | abpa=0.06 |
26 | 0.4098 | 0.4028 | 0.3858 | 0.3693 | 0.3615 |
27 | 0.4243 | 0.4168 | 0.3987 | 0.3812 | 0.3728 |
28 | 0.4396 | 0.4317 | 0.4124 | 0.3937 | 0.3848 |
29 | 0.4557 | 0.4473 | 0.4267 | 0.4068 | 0.3973 |
30 | 0.4729 | 0.4638 | 0.4419 | 0.4207 | 0.4107 |
31 | 0.4881 | 0.4784 | 0.4551 | 0.4325 | 0.4218 |
32 | 0.5022 | 0.4919 | 0.4672 | 0.4432 | 0.4319 |
33 | 0.5165 | 0.5057 | 0.4795 | 0.4542 | 0.4421 |
34 | 0.5309 | 0.5195 | 0.4919 | 0.4652 | 0.4525 |
35 | 0.5455 | 0.5335 | 0.5045 | 0.4764 | 0.4631 |
36 | 0.5603 | 0.5477 | 0.5172 | 0.4878 | 0.4738 |
37 | 0.5752 | 0.5621 | 0.5302 | 0.4994 | 0.4847 |
38 | 0.5904 | 0.5767 | 0.5433 | 0.5111 | 0.4958 |
39 | 0.6058 | 0.5915 | 0.5568 | 0.5232 | 0.5072 |
40 | 0.6214 | 0.6065 | 0.5703 | 0.5353 | 0.5187 |
41 | 0.6370 | 0.6215 | 0.5838 | 0.5474 | 0.5300 |
42 | 0.6528 | 0.6366 | 0.5974 | 0.5595 | 0.5414 |
43 | 0.6688 | 0.6520 | 0.6111 | 0.5716 | 0.5528 |
44 | 0.6850 | 0.6674 | 0.6249 | 0.5837 | 0.5641 |
45 | 0.7014 | 0.6831 | 0.6387 | 0.5958 | 0.5753 |
46 | 0.7180 | 0.6990 | 0.6526 | 0.6077 | 0.5863 |
47 | 0.7348 | 0.7149 | 0.6664 | 0.6195 | 0.5971 |
48 | 0.7518 | 0.7309 | 0.6801 | 0.6309 | 0.6074 |
49 | 0.7689 | 0.7470 | 0.6936 | 0.6420 | 0.6174 |
50 | 0.7861 | 0.7631 | 0.7070 | 0.6527 | 0.6268 |
51 | 0.8035 | 0.7792 | 0.7201 | 0.6629 | 0.6567 |
52 | 0.8208 | 0.7951 | 0.7326 | 0.6871 | 0.6871 |
53 | 0.8380 | 0.8109 | 0.7446 | 0.7182 | 0.7182 |
54 | 0.8552 | 0.8264 | 0.7561 | 0.7501 | 0.7501 |
55 | 0.8725 | 0.8418 | 0.7830 | 0.7830 | 0.7830 |
56 | 0.8898 | 0.8571 | 0.8172 | 0.8172 | 0.8172 |
57 | 0.9072 | 0.8723 | 0.8528 | 0.8528 | 0.8528 |
58 | 0.9252 | 0.8903 | 0.8903 | 0.8903 | 0.8903 |
59 | 0.9316 | 0.9119 | 0.9119 | 0.9119 | 0.9119 |
60 | 0.9424 | 0.9424 | 0.9424 | 0.9424 | 0.9424 |
61 | 0.9501 | 0.9501 | 0.9501 | 0.9501 | 0.9501 |
62 | 0.9576 | 0.9576 | 0.9576 | 0.9576 | 0.9576 |
63 | 0.9681 | 0.9681 | 0.9681 | 0.9681 | 0.9681 |
64 | 0.9836 | 0.9836 | 0.9836 | 0.9836 | 0.9836 |
65 or more | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
| | | | | | |
Table 4 Valuation factors — males who are 18 to 22 years on entry to SAS Scheme | |
Employee’s age in completed years | Average rate of benefit point accrual (abpa) | |
abpa 0.045 | 0.045<abpa< 0.05 | 0.05abpa< 0.055 | 0.055abpa< 0.06 | abpa=0.06 |
26 | 0.4278 | 0.4188 | 0.3970 | 0.3767 | 0.3673 |
27 | 0.4412 | 0.4318 | 0.4089 | 0.3877 | 0.3777 |
28 | 0.4550 | 0.4452 | 0.4211 | 0.3989 | 0.3885 |
29 | 0.4694 | 0.4590 | 0.4339 | 0.4106 | 0.3997 |
30 | 0.4843 | 0.4734 | 0.4470 | 0.4226 | 0.4112 |
31 | 0.4981 | 0.4867 | 0.4591 | 0.4335 | 0.4216 |
32 | 0.5119 | 0.4999 | 0.4710 | 0.4442 | 0.4318 |
33 | 0.5256 | 0.5131 | 0.4829 | 0.4549 | 0.4419 |
34 | 0.5393 | 0.5263 | 0.4947 | 0.4655 | 0.4519 |
35 | 0.5531 | 0.5395 | 0.5066 | 0.4761 | 0.4619 |
36 | 0.5671 | 0.5529 | 0.5186 | 0.4868 | 0.4720 |
37 | 0.5811 | 0.5664 | 0.5306 | 0.4975 | 0.4821 |
38 | 0.5953 | 0.5799 | 0.5427 | 0.5082 | 0.4922 |
39 | 0.6096 | 0.5936 | 0.5549 | 0.5191 | 0.5024 |
40 | 0.6241 | 0.6075 | 0.5673 | 0.5300 | 0.5126 |
41 | 0.6388 | 0.6216 | 0.5798 | 0.5411 | 0.5230 |
42 | 0.6538 | 0.6359 | 0.5925 | 0.5523 | 0.5336 |
43 | 0.6690 | 0.6505 | 0.6054 | 0.5636 | 0.5441 |
44 | 0.6845 | 0.6652 | 0.6184 | 0.5750 | 0.5548 |
45 | 0.7003 | 0.6803 | 0.6316 | 0.5865 | 0.5655 |
46 | 0.7164 | 0.6956 | 0.6449 | 0.5980 | 0.5762 |
47 | 0.7328 | 0.7111 | 0.6584 | 0.6096 | 0.5869 |
48 | 0.7494 | 0.7268 | 0.6719 | 0.6211 | 0.5973 |
49 | 0.7662 | 0.7427 | 0.6854 | 0.6324 | 0.6076 |
50 | 0.7833 | 0.7587 | 0.6989 | 0.6435 | 0.6176 |
51 | 0.8005 | 0.7747 | 0.7122 | 0.6542 | 0.6481 |
52 | 0.8178 | 0.7909 | 0.7253 | 0.6794 | 0.6794 |
53 | 0.8353 | 0.8071 | 0.7383 | 0.7117 | 0.7117 |
54 | 0.8531 | 0.8234 | 0.7511 | 0.7451 | 0.7451 |
55 | 0.8711 | 0.8399 | 0.7798 | 0.7798 | 0.7798 |
56 | 0.8894 | 0.8565 | 0.8158 | 0.8158 | 0.8158 |
57 | 0.9081 | 0.8734 | 0.8535 | 0.8535 | 0.8535 |
58 | 0.9272 | 0.8929 | 0.8929 | 0.8929 | 0.8929 |
59 | 0.9339 | 0.9149 | 0.9149 | 0.9149 | 0.9149 |
60 | 0.9422 | 0.9422 | 0.9422 | 0.9422 | 0.9422 |
61 | 0.9515 | 0.9515 | 0.9515 | 0.9515 | 0.9515 |
62 | 0.9592 | 0.9592 | 0.9592 | 0.9592 | 0.9592 |
63 | 0.9715 | 0.9715 | 0.9715 | 0.9715 | 0.9715 |
64 | 0.9853 | 0.9853 | 0.9853 | 0.9853 | 0.9853 |
65 or more | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
| | | | | | |
Table 5 Valuation factors — females who are 23 to 27 years on entry to SAS Scheme |
Employee’s age in completed years | Average rate of benefit point accrual (abpa) |
abpa< 0.05 | 0.05abpa< 0.055 | 0.055abpa< 0.06 | abpa=0.06 |
30 | 0.4562 | 0.4531 | 0.4355 | 0.4262 |
31 | 0.4731 | 0.4697 | 0.4509 | 0.4411 |
32 | 0.4888 | 0.4853 | 0.4653 | 0.4549 |
33 | 0.5049 | 0.5012 | 0.4801 | 0.4690 |
34 | 0.5212 | 0.5173 | 0.4950 | 0.4834 |
35 | 0.5378 | 0.5336 | 0.5102 | 0.4981 |
36 | 0.5531 | 0.5486 | 0.5241 | 0.5114 |
37 | 0.5685 | 0.5639 | 0.5382 | 0.5248 |
38 | 0.5841 | 0.5793 | 0.5524 | 0.5385 |
39 | 0.5999 | 0.5949 | 0.5669 | 0.5523 |
40 | 0.6160 | 0.6107 | 0.5816 | 0.5664 |
41 | 0.6319 | 0.6264 | 0.5961 | 0.5803 |
42 | 0.6480 | 0.6423 | 0.6107 | 0.5943 |
43 | 0.6643 | 0.6584 | 0.6255 | 0.6084 |
44 | 0.6808 | 0.6747 | 0.6404 | 0.6225 |
45 | 0.6977 | 0.6913 | 0.6555 | 0.6368 |
46 | 0.7147 | 0.7080 | 0.6706 | 0.6511 |
47 | 0.7319 | 0.7249 | 0.6858 | 0.6654 |
48 | 0.7492 | 0.7419 | 0.7010 | 0.6796 |
49 | 0.7667 | 0.7591 | 0.7161 | 0.6936 |
50 | 0.7844 | 0.7764 | 0.7312 | 0.7075 |
51 | 0.8022 | 0.7938 | 0.7461 | 0.7212 |
52 | 0.8199 | 0.8109 | 0.7606 | 0.7342 |
53 | 0.8375 | 0.8280 | 0.7746 | 0.7468 |
54 | 0.8549 | 0.8449 | 0.7882 | 0.7586 |
55 | 0.8724 | 0.8617 | 0.8014 | 0.7700 |
56 | 0.8898 | 0.8784 | 0.8142 | 0.8067 |
57 | 0.9072 | 0.8951 | 0.8449 | 0.8449 |
58 | 0.9252 | 0.9122 | 0.8853 | 0.8853 |
59 | 0.9316 | 0.9155 | 0.9090 | 0.9090 |
60 | 0.9424 | 0.9424 | 0.9424 | 0.9424 |
61 | 0.9501 | 0.9501 | 0.9501 | 0.9501 |
62 | 0.9576 | 0.9576 | 0.9576 | 0.9576 |
63 | 0.9681 | 0.9681 | 0.9681 | 0.9681 |
64 | 0.9836 | 0.9836 | 0.9836 | 0.9836 |
65 or more | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
Table 6 Valuation factors — males who are 23 to 27 years on entry to SAS Scheme |
Employee’s age in completed years | Average rate of benefit point accrual (abpa) |
abpa< 0.05 | 0.05abpa< 0.055 | 0.055abpa< 0.06 | abpa=0.06 |
30 | 0.4735 | 0.4698 | 0.4482 | 0.4372 |
31 | 0.4883 | 0.4844 | 0.4619 | 0.4503 |
32 | 0.5032 | 0.4991 | 0.4755 | 0.4634 |
33 | 0.5181 | 0.5138 | 0.4892 | 0.4765 |
34 | 0.5330 | 0.5286 | 0.5028 | 0.4896 |
35 | 0.5481 | 0.5434 | 0.5166 | 0.5028 |
36 | 0.5624 | 0.5575 | 0.5295 | 0.5152 |
37 | 0.5768 | 0.5717 | 0.5425 | 0.5276 |
38 | 0.5912 | 0.5859 | 0.5556 | 0.5400 |
39 | 0.6058 | 0.6004 | 0.5688 | 0.5526 |
40 | 0.6206 | 0.6149 | 0.5820 | 0.5652 |
41 | 0.6355 | 0.6296 | 0.5955 | 0.5780 |
42 | 0.6508 | 0.6446 | 0.6092 | 0.5910 |
43 | 0.6662 | 0.6599 | 0.6231 | 0.6042 |
44 | 0.6820 | 0.6754 | 0.6371 | 0.6175 |
45 | 0.6980 | 0.6912 | 0.6514 | 0.6310 |
46 | 0.7143 | 0.7072 | 0.6659 | 0.6447 |
47 | 0.7310 | 0.7235 | 0.6805 | 0.6585 |
48 | 0.7478 | 0.7401 | 0.6953 | 0.6723 |
49 | 0.7649 | 0.7569 | 0.7101 | 0.6861 |
50 | 0.7823 | 0.7739 | 0.7250 | 0.7000 |
51 | 0.7997 | 0.7909 | 0.7398 | 0.7136 |
52 | 0.8172 | 0.8080 | 0.7545 | 0.7270 |
53 | 0.8349 | 0.8253 | 0.7692 | 0.7403 |
54 | 0.8528 | 0.8427 | 0.7837 | 0.7534 |
55 | 0.8710 | 0.8603 | 0.7983 | 0.7664 |
56 | 0.8894 | 0.8782 | 0.8128 | 0.8051 |
57 | 0.9081 | 0.8963 | 0.8456 | 0.8456 |
58 | 0.9272 | 0.9147 | 0.8880 | 0.8880 |
59 | 0.9339 | 0.9184 | 0.9122 | 0.9122 |
60 | 0.9422 | 0.9422 | 0.9422 | 0.9422 |
61 | 0.9515 | 0.9515 | 0.9515 | 0.9515 |
62 | 0.9592 | 0.9592 | 0.9592 | 0.9592 |
63 | 0.9715 | 0.9715 | 0.9715 | 0.9715 |
64 | 0.9853 | 0.9853 | 0.9853 | 0.9853 |
65 or more | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
Table 7 Valuation factors — employees who are 28 years or more on entry to SAS Scheme |
Employee’s age in completed years | Males | Females |
35 | 0.5413 | 0.5275 |
36 | 0.5562 | 0.5437 |
37 | 0.5713 | 0.5602 |
38 | 0.5865 | 0.5768 |
39 | 0.6019 | 0.5938 |
40 | 0.6173 | 0.6111 |
41 | 0.6325 | 0.6273 |
42 | 0.6479 | 0.6437 |
43 | 0.6636 | 0.6603 |
44 | 0.6796 | 0.6772 |
45 | 0.6958 | 0.6943 |
46 | 0.7123 | 0.7117 |
47 | 0.7292 | 0.7292 |
48 | 0.7463 | 0.7470 |
49 | 0.7636 | 0.7648 |
50 | 0.7813 | 0.7829 |
51 | 0.7989 | 0.8011 |
52 | 0.8166 | 0.8191 |
53 | 0.8345 | 0.8370 |
54 | 0.8526 | 0.8547 |
55 | 0.8709 | 0.8723 |
56 | 0.8894 | 0.8898 |
57 | 0.9081 | 0.9072 |
58 | 0.9272 | 0.9252 |
59 | 0.9339 | 0.9316 |
60 | 0.9422 | 0.9424 |
61 | 0.9515 | 0.9501 |
62 | 0.9592 | 0.9576 |
63 | 0.9715 | 0.9681 |
64 | 0.9853 | 0.9836 |
65 or more | 1.0000 | 1.0000 |
Table 8 Valuation factors — deferred beneficiaries |
Period of time until early retirement age (in completed years) | Factor |
30 | 0.762 |
29 | 0.769 |
28 | 0.776 |
27 | 0.783 |
26 | 0.791 |
25 | 0.798 |
24 | 0.805 |
23 | 0.812 |
22 | 0.820 |
21 | 0.827 |
20 | 0.835 |
19 | 0.842 |
18 | 0.850 |
17 | 0.858 |
16 | 0.865 |
15 | 0.873 |
14 | 0.881 |
13 | 0.889 |
12 | 0.897 |
11 | 0.905 |
10 | 0.914 |
9 | 0.922 |
8 | 0.930 |
7 | 0.939 |
6 | 0.947 |
5 | 0.956 |
4 | 0.964 |
3 | 0.973 |
2 | 0.982 |
1 | 0.991 |
0 | 1.000 |
Table 9 Valuation factors — male pensioners |
Pensioner’s age in completed years | Type of pension |
Age retirement pension | Invalid pension | Reversionary pension |
25 | 23.21 | 21.80 | 23.01 |
26 | 23.09 | 21.68 | 22.89 |
27 | 22.97 | 21.56 | 22.77 |
28 | 22.85 | 21.43 | 22.63 |
29 | 22.72 | 21.29 | 22.50 |
30 | 22.59 | 21.15 | 22.36 |
31 | 22.45 | 21.00 | 22.21 |
32 | 22.31 | 20.84 | 22.06 |
33 | 22.16 | 20.69 | 21.90 |
34 | 22.01 | 20.53 | 21.73 |
35 | 21.85 | 20.37 | 21.56 |
36 | 21.68 | 20.20 | 21.39 |
37 | 21.51 | 20.02 | 21.20 |
38 | 21.33 | 19.83 | 21.01 |
39 | 21.14 | 19.65 | 20.81 |
40 | 20.95 | 19.45 | 20.60 |
41 | 20.73 | 19.23 | 20.39 |
42 | 20.51 | 19.01 | 20.16 |
43 | 20.28 | 18.77 | 19.93 |
44 | 20.04 | 18.54 | 19.69 |
45 | 19.78 | 18.29 | 19.44 |
46 | 19.47 | 17.96 | 19.18 |
47 | 19.14 | 17.63 | 18.91 |
48 | 18.80 | 17.29 | 18.62 |
49 | 18.44 | 16.96 | 18.33 |
50 | 18.08 | 16.63 | 18.03 |
51 | 17.71 | 16.31 | 17.71 |
52 | 17.38 | 16.05 | 17.38 |
53 | 17.04 | 15.79 | 17.04 |
54 | 16.69 | 15.52 | 16.69 |
55 | 16.32 | 15.25 | 16.32 |
56 | 15.98 | 14.97 | 15.98 |
57 | 15.63 | 14.68 | 15.63 |
58 | 15.26 | 14.38 | 15.26 |
59 | 14.89 | 14.08 | 14.89 |
60 | 14.50 | 13.77 | 14.50 |
61 | 14.11 | 13.45 | 14.11 |
62 | 13.70 | 13.12 | 13.70 |
63 | 13.29 | 12.78 | 13.29 |
64 | 12.86 | 12.44 | 12.86 |
65 | 12.42 | 12.10 | 12.42 |
66 | 11.98 | 11.74 | 11.98 |
67 | 11.52 | 11.38 | 11.52 |
68 | 11.05 | 11.01 | 11.05 |
69 | 10.57 | 10.63 | 10.57 |
70 | 10.07 | 10.26 | 10.07 |
71 | 9.56 | 9.88 | 9.56 |
72 | 9.07 | 9.51 | 9.07 |
73 | 8.60 | 9.13 | 8.60 |
74 | 8.15 | 8.75 | 8.15 |
75 | 7.72 | 8.37 | 7.72 |
76 | 7.32 | 7.99 | 7.32 |
77 | 6.94 | 7.61 | 6.94 |
78 | 6.58 | 7.24 | 6.58 |
79 | 6.24 | 6.87 | 6.24 |
80 | 5.92 | 6.51 | 5.92 |
81 | 5.62 | 6.16 | 5.62 |
82 | 5.34 | 5.82 | 5.34 |
83 | 5.06 | 5.49 | 5.06 |
84 | 4.79 | 5.18 | 4.79 |
85 | 4.54 | 4.89 | 4.54 |
86 | 4.29 | 4.61 | 4.29 |
87 | 4.06 | 4.33 | 4.06 |
88 | 3.84 | 4.07 | 3.84 |
89 | 3.63 | 3.82 | 3.63 |
90 | 3.44 | 3.57 | 3.44 |
91 | 3.25 | 3.34 | 3.25 |
92 | 3.07 | 3.11 | 3.07 |
93 | 2.90 | 2.91 | 2.90 |
94 | 2.73 | 2.72 | 2.73 |
95 | 2.56 | 2.54 | 2.56 |
96 | 2.40 | 2.38 | 2.40 |
97 | 2.25 | 2.24 | 2.25 |
98 | 2.10 | 2.10 | 2.10 |
99 or more | 1.97 | 1.97 | 1.97 |
Table 10 Valuation factors — female pensioners |
Pensioner’s age in completed years | Type of pension |
Age retirement pension | Invalid pension | Reversionary pension |
25 | 23.42 | 22.16 | 23.37 |
26 | 23.31 | 22.02 | 23.26 |
27 | 23.20 | 21.88 | 23.15 |
28 | 23.09 | 21.73 | 23.03 |
29 | 22.97 | 21.58 | 22.91 |
30 | 22.85 | 21.43 | 22.79 |
31 | 22.72 | 21.27 | 22.66 |
32 | 22.59 | 21.10 | 22.52 |
33 | 22.45 | 20.93 | 22.38 |
34 | 22.31 | 20.76 | 22.24 |
35 | 22.16 | 20.58 | 22.08 |
36 | 22.00 | 20.40 | 21.93 |
37 | 21.84 | 20.21 | 21.76 |
38 | 21.68 | 20.01 | 21.59 |
39 | 21.50 | 19.82 | 21.42 |
40 | 21.32 | 19.61 | 21.23 |
41 | 21.09 | 19.30 | 21.04 |
42 | 20.86 | 18.99 | 20.84 |
43 | 20.65 | 18.76 | 20.64 |
44 | 20.44 | 18.53 | 20.42 |
45 | 20.22 | 18.30 | 20.20 |
46 | 19.98 | 18.06 | 19.97 |
47 | 19.74 | 17.83 | 19.73 |
48 | 19.49 | 17.59 | 19.48 |
49 | 19.23 | 17.35 | 19.22 |
50 | 18.96 | 17.10 | 18.95 |
51 | 18.67 | 16.84 | 18.67 |
52 | 18.38 | 16.60 | 18.38 |
53 | 18.08 | 16.35 | 18.08 |
54 | 17.77 | 16.10 | 17.77 |
55 | 17.44 | 15.85 | 17.44 |
56 | 17.13 | 15.60 | 17.13 |
57 | 16.80 | 15.34 | 16.80 |
58 | 16.47 | 15.08 | 16.47 |
59 | 16.13 | 14.82 | 16.13 |
60 | 15.79 | 14.55 | 15.79 |
61 | 15.44 | 14.28 | 15.44 |
62 | 15.07 | 14.01 | 15.07 |
63 | 14.70 | 13.73 | 14.70 |
64 | 14.31 | 13.44 | 14.31 |
65 | 13.92 | 13.14 | 13.92 |
66 | 13.51 | 12.84 | 13.51 |
67 | 13.10 | 12.53 | 13.10 |
68 | 12.67 | 12.21 | 12.67 |
69 | 12.24 | 11.89 | 12.24 |
70 | 11.80 | 11.57 | 11.80 |
71 | 11.36 | 11.24 | 11.36 |
72 | 10.92 | 10.90 | 10.92 |
73 | 10.49 | 10.56 | 10.49 |
74 | 10.06 | 10.22 | 10.06 |
75 | 9.63 | 9.86 | 9.63 |
76 | 9.22 | 9.51 | 9.22 |
77 | 8.81 | 9.14 | 8.81 |
78 | 8.41 | 8.76 | 8.41 |
79 | 8.01 | 8.36 | 8.01 |
80 | 7.62 | 7.96 | 7.62 |
81 | 7.24 | 7.55 | 7.24 |
82 | 6.87 | 7.15 | 6.87 |
83 | 6.50 | 6.75 | 6.50 |
84 | 6.15 | 6.35 | 6.15 |
85 | 5.80 | 5.97 | 5.80 |
86 | 5.47 | 5.60 | 5.47 |
87 | 5.15 | 5.25 | 5.15 |
88 | 4.85 | 4.91 | 4.85 |
89 | 4.57 | 4.60 | 4.57 |
90 | 4.31 | 4.31 | 4.31 |
91 | 4.07 | 4.05 | 4.07 |
92 | 3.84 | 3.80 | 3.84 |
93 | 3.63 | 3.57 | 3.63 |
94 | 3.41 | 3.35 | 3.41 |
95 | 3.22 | 3.14 | 3.22 |
96 | 3.04 | 2.93 | 3.04 |
97 | 2.87 | 2.72 | 2.87 |
98 | 2.72 | 2.50 | 2.72 |
99 or more | 2.58 | 2.26 | 2.58 |
Part 8 New South Wales State Superannuation Scheme
Division 8.1 Definitions
1 Definitions
(1) In this Part:
calculation year means the financial year in relation to which a calculation is being made for paragraph (a) or (b) of step 1 or for step 3 of the method set out in clause 2.
NSW Superannuation Act means the Superannuation Act 1916 (NSW).
SS Scheme means the superannuation scheme constituted by the NSW Superannuation Act.
(2) A reference in this Part to the requirements of Division 2.2 of the Regulations being satisfied does not include a reference to the requirements of that Division being satisfied by making a payment of the kind mentioned in regulation 14H of the Regulations.
(3) An expression used in this Part and in the NSW Superannuation Act or in a provision of that Act has the same meaning in this Part as it has in the NSW Superannuation Act or the provision of that Act.
Note The following expressions are defined in subsection 3 (1) of the NSW Superannuation Act:
Child
Contributor
Contributors’ reserve
De facto partner
Employee
Maturity age
Prescribed age
Salary
Service
Spouse
STC
Superannuation contributions surcharge.
Division 8.2 Interests in the growth phase
Subdivision 8.2.1 Contributors who have not elected to defer benefit
2 Method for interests in SS Scheme
(1) For an interest that:
(a) is in the growth phase in the SS Scheme; and
(b) is held by a person who is a contributor;
the method set out in the following table is approved for section 4 of this instrument.
(2) However, the method set out in the following table does not apply to an interest for which a method is approved under another Subdivision of this Division.
Method |
Step 1 Calculate the probability weighted employer funded accrued benefit (if any) that would be payable to, or in respect of, the person for each benefit that would be payable to the person for each of the reasons (r) set out in clause 8 in accordance with whichever of the following is applicable: (a) if the person is less than 65 years at the end of the financial year in which the relevant date occurs, calculate the benefit for each financial year (t) in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the end of the financial year when the person would turn 65; (b) if the person is 65 years or more at the end of the financial year in which the relevant date occurs, calculate the benefit for that financial year; in accordance with the formula: 
where: Bt,r has the meaning given by clause 6. TPCIt is the total amount of the person’s contributions and interest that would be debited against the contributors’ reserve, in respect of the person, in accordance with paragraph 33B (2) (a) of the NSW Superannuation Act, if: (a) the benefit were to be payable to, or in respect of, the person on 31 December in the calculation year; and (b) the following assumptions were to apply to the person’s contributions and interest: (i) each of the assumptions set out in clause 10; (ii) the interest rate that is fixed by STC, under subsection 8 (1) of the NSW Superannuation Act, for each year commencing on 1 July in the financial year in which the relevant date occurs is 6.5%. st has the meaning given by clause 3. pt,r has the meaning given by clause 4. aft,r has the meaning given by clause 5. dt is: (a) in respect of the financial year in which the relevant date occurs — 1.032; and (b) in any other case — the discount factor mentioned in Table 1 of Division 8.4 that is applicable to the calculation year. |
Step 2 Calculate the sum (V0) of all of the probability weighted employer funded accrued benefits worked out in step 1 |
Step 3 Applying the assumptions set out in clause 9, repeat step 1 for each calculation year commencing on 1 July after the relevant date, modified so that: (a) the relevant date referred to in paragraph (b) of the definition of st is: (i) the date corresponding to the relevant date in the financial year following the financial year in which the relevant date occurs; or (ii) if there is no such corresponding date because the relevant date is 29 February — 1 March; and (b) LPS0 referred to in the definition of aft,r is, if applicable, the length of the person’s service as at 1 July immediately after the relevant date; and (c) dt is: (i) in respect of the financial year immediately after the relevant date — 1.032; and (ii) in any other case — the discount factor that would apply to the calculation year if the reference to ‘1 July in the financial year in which the relevant date occurs’ in the heading of column 1 in Table 1 in Division 8.4 was a reference to ‘1 July after the relevant date’. |
Step 4 Calculate the sum (V1) of all of the probability weighted employer funded accrued benefits worked out in step 3. |
Step 5 Calculate the employer financed component of the benefit (EFB) that is payable to the person in accordance with the formula: 
where: V0 is the amount worked out in step 2. V1 is the amount worked out in step 4. m is the number of complete months in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the end of the relevant date. |
Step 6 Calculate the gross value of the interest in accordance with the formula: 
where: EFB is the employer financed component of the benefit that is payable to the person, worked out in accordance with step 5. TPCI is the total amount of the person’s contributions and interest, at the relevant date, that would be debited from his or her contributor’s account, under subsection 33B (4) of the NSW Superannuation Act, if a benefit under that Act were to become payable to that person at that date. RUA is the person’s reserve unit accumulation, being the amount that would be payable under subsection 15A (6AB) of the NSW Superannuation Act if the person ceased to be an employee at the relevant date. R is the reduction factor under clause 7. |
3 Meaning of st
For step 1 of the method set out in clause 2:
st is:
(a) for the financial year in which the relevant date occurs — 1; or
(b) for each year in the period commencing on 1 July after the relevant date and ending at the end of 30 June immediately before the calculation year — the probability that the person will be an employee in the calculation year, worked out in accordance with the method set out in the following table.
Step 1 Calculate, for each year in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the end of 30 June immediately before the calculation year (the calculation period), the total of the sum of the factors set out in whichever of paragraphs (a), (b) and (c) is applicable to the person: (a) if the person is male — the factors set out, for the person’s age in that year, in columns 2 to 7 of Table 2 in Division 8.4; (b) if the person is female and elected to contribute at the rate prescribed by the NSW Superannuation Act for retirement at 55 years — the factors set out, for the person’s age in that year, in columns 2, 4, 5, 6, 7 and 9 of Table 3 in Division 8.4; (c) if the person is female and elected to contribute at the rate prescribed by the NSW Superannuation Act for retirement at 60 years — the factors set out, for the person’s age in that year, in columns 3, 4, 5, 6, 8 and 10 of Table 3 in Division 8.4. |
Step 2 For each year in the calculation period, calculate the probability that the person will remain an employee at the end of each year (survival factor), being 1 less the sum of the factors set out in whichever of paragraphs (a), (b) and (c) in step 1 is applicable to the person for each year. |
Step 3 Multiply the survival factor worked out in step 2 for the first year in the calculation period by the survival factor for each remaining year in that period. |
Step 4 st is the result of the calculation worked out in step 3. |
4 Meaning of pt,r
For step 1 of the method set out in clause 2:
pt,r is the probability, set out in whichever of Tables 2 and 3 of Division 8.4 is applicable, that the benefit would be payable to the person in the calculation year for any of the reasons mentioned in subclause 8 (2), given:
(a) the person’s gender; and
(b) the person’s age in completed years on 31 December in the calculation year; and
(c) if the person is female, the person’s contribution rate for retirement at 55 or 60 years (as the case may be).
5 Meaning of aft,r
(1) For step 1 of the method set out in clause 2:
aft,r is:
(a) if the benefit is payable to, or in respect of, a person under section 29, 30 or 32A of the NSW Superannuation Act — the lesser of:
(i) 1; and
(ii) the factor calculated in accordance with the formula:
where:
LPS0 is the length of the person’s service expressed in years and any fraction of a year, at the relevant date.
LPSmd is the length of the person’s service if he or she remained an employee until maturity age, expressed in years and any fraction of a year; or
(b) in any other case — the factor calculated in accordance with the formula:
where:
LPS0 is the length of the person’s service expressed in years and any fraction of a year, as at 1 July in the financial year in which the relevant date occurs.
t is:
(a) if the person is less than 65 years on 30 June after the relevant date — the number of years in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the beginning of the calculation year; or
(b) if the person is 65 years or more on 30 June after the relevant date — 0.
(2) For the definition of LPSmd in paragraph (a) of the definition of aft,r in subclause (1):
fraction of a year means the quotient of:
(a) the number of days, including the day when the person reaches maturity age, that would not be included in the number of complete years of service if the person remained an employee until maturity age; and
(b) whichever of subparagraphs (i), (ii), (iii) and (iv) is applicable:
(i) if the length of the person’s service at the date when the person will reach maturity age is less than 1 complete year and the date ‘29 February’ occurs in the period of 12 months commencing on the date on which the person commenced service — 366;
(ii) if the length of the person’s service at the date when the person will reach maturity age is more than 1 complete year and the date ‘29 February’ occurs in the period of 12 months commencing on the person’s most recent anniversary date before maturity age — 366;
(iii) if the length of the person’s service at the date when the person will reach maturity age is more than 1 complete year and the person’s most recent anniversary date before maturity age is taken to be ‘1 March’ under subclause (4) — 365;
(iv) in any other case — 365.
(3) For the definition of LPS0 in paragraphs (a) and (b) of the definition of aft,r in subclause (1):
fraction of a year means the quotient of:
(a) the number of days that are not included in the number of complete years of service; and
(b) whichever of subparagraphs (i), (ii), (iii) and (iv) is applicable:
(i) if the length of the person’s service at the relevant date is less than 1 complete year and the date ‘29 February’ occurs in the period of 12 months commencing on the date on which the person commenced service — 366;
(ii) if the length of the person’s service at the relevant date is more than 1 complete year and the date ‘29 February’ occurs in the period of 12 months commencing on the person’s most recent anniversary date in the financial year preceding the relevant date — 366;
(iii) if the length of the person’s service at the relevant date is more than 1 complete year and the person’s most recent anniversary date in the financial year preceding the relevant date is taken to be ‘1 March’ under subclause (4) — 365;
(iv) in any other case — 365.
(4) If a person’s anniversary date is ‘29 February’, the person’s most recent anniversary date is taken to be ‘1 March’ in a year that is not a leap year.
(5) In this clause:
anniversary date means the anniversary of the date on which a person commenced service.
6 Valuation of benefit (Bt,r)
(1) For step 1 of the method set out in clause 2 and subject to subclause (2):
Bt,r is the value of the benefit (including any lump sum payments or pension payments) in the calculation year that:
(a) would be payable to the person for any of the reasons mentioned in subclause 8 (1); and
(b) applies the assumptions set out in clause 10; and
(c) takes into account the amount of reduction of the benefit (if any) determined by STC under subsection 61RA (1) of the NSW Superannuation Act in accordance with section 61RD of that Act; and
(d) assumes, for the purpose of calculating the amount of that reduction, that L in subsection 61RD (7) of the NSW Superannuation Act is 0.15; and
(e) disregards the amount of adjustment (if any) that STC would determine under subsection 61RA (1A) of the NSW Superannuation Act in respect of the superannuation contributions surcharge.
(2) For subclause (1), the value of the benefit is taken to be whichever of the following is applicable:
(a) if the benefit is payable as an immediate lump sum only — the amount of the lump sum;
(b) if the benefit is payable as a pension that is immediately payable in the calculation year — the value of the benefit calculated in accordance with the formula set out in subclause (3);
(c) if the benefit is payable under Division 3A of Part 4 of the NSW Superannuation Act after the person resigned — the value of the benefit calculated in accordance with the formula set out in subclause (4).
(3) For paragraph (2) (b), the value of the benefit is to be calculated in accordance with the formula:
where:
Pension is the amount of fortnightly pension benefit that would be payable to, or in respect of, the person on the date when the person’s pension entitlement first arises.
PFy+t+m is the factor calculated in accordance with the formula:
where:
PFy+t is the valuation factor mentioned in Table 4 of Division 8.4 that is applicable, given:
(a) the person’s age in completed years (y+t) on 31 December in the calculation year; and
(b) the person’s gender; and
(c) the type of pension.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years on 31 December in the calculation year.
PFy+t+1 is the valuation factor mentioned in Table 4 of Division 8.4 that would be applicable to the person if the person’s age in completed years on 31 December in the calculation year were 1 year more than it is.
(4) For paragraph (2) (c), the value of the benefit is to be calculated in accordance with the formula:
where:
Pension1t is the amount of fortnightly pension that would be calculated under subsection 52A (2) of the NSW Superannuation Act in respect of the person, if the person was entitled to a pension under section 52C of that Act on 31 December in the calculation year.
PF1y+t+m is the pension valuation factor calculated in accordance with the formula:
where:
PF1y+t is the P1 pension valuation factor mentioned in Table 5 of Division 8.4 that is applicable, given:
(a) the person’s gender; and
(b) the person’s age in completed years on 31 December in the calculation year.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years on 31 December in the calculation year.
PF1y+t+1 is the P1 pension valuation factor mentioned in Table 5 of Division 8.4 that would be applicable if the person’s age in completed years on 31 December in the calculation year were 1 year more than it is.
Pension2t is the amount of fortnightly pension that would be calculated under subsection 52A (3) of the NSW Superannuation Act in respect of the person, if the person was entitled to a pension under section 52C of that Act on 31 December in the calculation year.
PF2y+t+m is the pension valuation factor calculated in accordance with the formula:
where:
PF2y+t is the P2 pension valuation factor mentioned in Table 5 of Division 8.4 that is applicable, given:
(a) the person’s gender; and
(b) the person’s age in completed years on 31 December in the calculation year.
m has the meaning given above.
PF2y+t+1 is the P2 pension valuation factor mentioned in Table 5 of Division 8.4 that would be applicable if the person’s age in completed years on 31 December in the calculation year were 1 year more than it is.
7 Reduction factor
(1) For step 6 of the method set out in clause 2, the reduction factor is:
(a) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the factor calculated in accordance with the formula set out in subclause (2); or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlements of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the factors calculated in accordance with the formula set out in subclause (2) in respect of each entitlement; or
(c) in any other case — 1.
(2) For paragraphs (1) (a) and (b), each amount is calculated in accordance with the formula:
1 – NMProp ESProp
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 2.
ESProp is calculated in accordance with the formula:
where:
CDs is the total number of days of the person’s service as at the date when the requirements of Division 2.2 of the Regulations were satisfied.
Bs is the number of days of the person’s service in the period commencing on 1 July 1988 and ending on the date when the requirements of Division 2.2 of the Regulations were satisfied.
EFPs is the employer financed proportion of the person’s benefit immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied, calculated in accordance with the formula:
where:
EFBs is the employer financed component of the benefit that is payable to the person, worked out in accordance with the formula in step 5 of the method set out in clause 2, immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied.
TPCIs is the total amount of the person’s contributions and interest, being the amount that would have been required to be calculated under subsection 33B (4) of the NSW Superannuation Act if a benefit had been payable to the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied.
CD is the total number of days of the person’s service at the relevant date.
B is the number of days of the person’s service in the period commencing on 1 July 1988 and ending at the end of the relevant date.
EFP is the employer financed proportion of the person’s benefit at the relevant date, calculated in accordance with the formula:
where:
EFB is the employer financed component of the benefit that is payable to the person, worked out in accordance with step 5 of the method set out in clause 2.
TPCI is the total amount of the person’s contributions and interest, at the relevant date, that would be debited from his or her contributor’s account, under subsection 33B (4) of the NSW Superannuation Act, if a benefit under that Act were to become payable to that person at that date.
Subdivision 8.2.2 Reasons and assumptions in respect of interest described in Subdivision 8.2.1
8 Reasons for payment of benefit
(1) For step 1 of the method set out in clause 2, and paragraph (a) of the definition of Bt,r in subclause 6 (1), each of the events set out in subclauses (4) to (10) is a reason.
(2) For the definition of pt,r in clause 4, each of the events set out in subclauses (3), (6), (7), (8), (9) and (10) is a reason.
(3) The person retired when the person was at least 55 years and was entitled to a benefit under section 27, 28, 28A or 28AA of the NSW Superannuation Act.
(4) The person retired when the person was at least 60 years and was entitled to a benefit under section 27 of the NSW Superannuation Act.
(5) The person retired when the person was at least 55 years but less than 60 years and was entitled to a benefit under section 28, 28A or 28AA of the NSW Superannuation Act.
(6) The person retired on the grounds of invalidity, or physical or mental incapacity to carry out the person’s duties as an employee and was entitled to a benefit under section 29 of the NSW Superannuation Act.
(7) The person died leaving a spouse or de facto partner and was entitled to a benefit under section 30 of the NSW Superannuation Act.
(8) The person died without leaving a spouse, de facto partner or child to whom a benefit was payable under the NSW Superannuation Act and section 32A of that Act applies to that person.
(9) The person:
(a) would have been entitled to a benefit under section 27, 28, 28A or 28AA of the NSW Superannuation Act on retirement, but resigned before retirement; and
(b) had not elected to take the benefit of Division 3A of Part 4 of that Act.
(10) The person:
(a) would have been entitled to a benefit under section 27, 28, 28A or 28AA of the NSW Superannuation Act on retirement, but resigned before retirement; and
(b) elected to take the benefit of Division 3A of Part 4 of that Act.
9 Step 3 — Assumptions in respect of person
For step 3 of the method set out in clause 2, the following assumptions apply:
(a) the person remains a contributor;
(b) the person’s salary will increase in accordance with paragraph 10 (a);
(c) the person will contribute for units of pension that will be taken to be optional units of pension under Part 3 of the NSW Superannuation Act, in accordance with paragraph 10 (c);
(d) if the relevant date is 29 February in a leap year, the corresponding date in a year that is not a leap year is 1 March.
10 Assumptions to be applied for TPCIt and Bt,r
For the definition of TPCIt in step 1 of the method set out in clause 2, and paragraph (b) of the definition of Bt,r in subclause 6 (1), the following assumptions apply:
(a) the person’s salary will increase by 4% each year commencing on 1 July in the financial year in which the relevant date occurs;
(b) a pension (if any) that is included in the benefit will increase by 2.5% each year;
(c) the person will, in the calculation year, contribute for units of pension that will be taken to be optional units of pension under Part 3 of the NSW Superannuation Act, in accordance with whichever of Tables 6 and 7 of Division 8.4 is applicable, given:
(i) the date when the person first became a contributor to the SS Scheme; and
(ii) the person’s age in the calculation year; and
(iii) the person’s gender; and
(iv) if the person is female, the person’s contribution rate for retirement at 55 or 60 years (as the case may be);
(d) if the person:
(i) would have reached the person’s prescribed age in the calculation year; and
(ii) had retired, died or was retrenched during that year;
the total amount of any unpaid unit of pension that was required to be paid under subsection 10AH (1) of the NSW Superannuation Act and paragraph (c), was paid in accordance with subsection 10AH (2) of that Act.
Subdivision 8.2.3 Deferred benefits — Division 3A of Part 4 of the NSW Superannuation Act
11 Method for interests in SS Scheme
For an interest:
(a) that is held by:
(i) a person who has elected, under paragraph 20AB (1) (b) of NSW Superannuation Act, to make provision for a benefit provided by Division 3A of Part 4 of that Act; or
(ii) a person who has elected to take the benefit of Division 3A of Part 4 of the NSW Superannuation Act; or
(iii) a person to whom subsection 52IA (1) of the NSW Superannuation Act applies; or
(iv) a person who has elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to preserve a benefit provided for by Division 3A of Part 4 of the Act; or
(v) a person who is taken, under subclause 2 (1) of Schedule 23 to the NSW Superannuation Act, to have elected to take the benefit of Division 3A of Part 4 of that Act; and
(b) that is in the growth phase in the SS Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: P1 is the amount of fortnightly pension that would be calculated under subsection 52A (2) of the NSW Superannuation Act in respect of the person if the person was entitled to a pension under section 52C of that Act at the relevant date. PF1y+m has the meaning given by subclause 12 (1). P2 is the amount of fortnightly pension that would be calculated under subsection 52A (3) of the NSW Superannuation Act in respect of the person if the person was entitled to a pension under section 52C of that Act at the relevant date. PF2y+m has the meaning given by subclause 12 (2). R is the reduction factor under clause 13. |
12 Definitions of PF1y+m and PF2y+m
(1) In clause 11 and, unless expressly modified, in any other provision in this Subdivision:
PF1y+m is the pension valuation factor calculated in accordance with the formula:
where:
PF1y is the person’s P1 pension valuation factor mentioned in Table 5 of Division 8.4 that is applicable, given:
(a) the person’s gender; and
(b) the person’s age in completed years at the relevant date.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
PF1y+1 is the person’s P1 pension valuation factor mentioned in Table 5 of Division 8.4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
(2) In clause 11 and, unless expressly modified, in any other provision in this Subdivision:
PF2y+m is the pension valuation factor calculated in accordance with the formula:
where:
PF2y is the P2 pension valuation factor mentioned in Table 5 of Division 8.4 that is applicable, given:
(a) the person’s gender; and
(b) the person’s age in completed years at the relevant date.
m has the meaning given by subclause (1).
PF2y+1 is the person’s P2 pension valuation factor mentioned in Table 5 of Division 8.4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
13 Reduction factor
(1) For clause 11, the reduction factor is:
(a) if paragraphs (b), (c) and (d) do not apply — 1; or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied:
(i) after the date when:
(A) the person elected under paragraph 20AB (1) (b) of the NSW Superannuation Act, to make provision for a benefit provided by Division 3A of Part 4 of that Act; or
(B) the person elected to take the benefit of Division 3A of Part 4 of the NSW Superannuation Act; or
(C) subsection 52IA (1) of the NSW Superannuation Act first applied to the person; or
(D) the person elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to preserve a benefit provided for by Division 3A of Part 4 of that Act; or
(E) the person was taken, under subclause 2 (1) of Schedule 23 to the NSW Superannuation Act, to have elected to take the benefit of Division 3A of Part 4 of that Act; and
(ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
the factor calculated in accordance with the formula set out in subclause (2); or
(c) if the requirements of Division 2.2 of the Regulations have been satisfied:
(i) before any of the dates mentioned in sub‑subparagraph (b) (i) (A) to (E); and
(ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
the factor calculated in accordance with the formula set out in subclause (3); or
(d) if the requirements of Division 2.2 of the Regulations have been satisfied in relation to the entitlements of 2 or more spouses of the person, being entitlements each arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the factors calculated in accordance with whichever of paragraphs (b) and (c) is applicable, in respect of each entitlement.
(2) For paragraph (1) (b), the factor is calculated in accordance with the formula:
1 – NMProp
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 11.
(3) For paragraph (1) (c), the factor is calculated in accordance with the formula:
1 – NMProp ESProp
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 2.
ESProp is calculated in accordance with the formula:
where:
CDs is the total number of days of the person’s service as at the date when the requirements of Division 2.2 of the Regulations were satisfied.
Bs is the number of days of the person’s service in the period commencing on 1 July 1988 and ending on the date when the requirements of Division 2.2 of the Regulations were satisfied.
EFPs has the meaning given by subclause 14 (1).
CDe is the total number of days of the person’s service at:
(a) in the case of a person who has elected, under paragraph 20AB (1) (b) of the NSW Superannuation Act, to make provision for a benefit provided by Division 3A of Part 4 of that Act — the date when the person elected to make provision for that benefit; or
(b) in the case of a person who has elected to take the benefit of Division 3A of Part 4 of the NSW Superannuation Act — the date that was the person’s exit day, within the meaning given by subsection 3 (1) of that Act; or
(c) in the case of a person to whom subsection 52IA (1) of the NSW Superannuation Act applies — the date when subsection 52IA (1) first so applied; or
(d) in the case of a person who has elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to preserve a benefit provided for by Division 3A of Part 4 of that Act — the date that was the exit day for the person under Division 3B of Part 4 of that Act; or
(e) in the case of a person who is taken, under subclause 2 (1) of Schedule 23 to the NSW Superannuation Act, to have elected to take the benefit of Division 3A of Part 4 of that Act — the date when Part 1 of Schedule 23 first applied to the person.
Be is the number of days of the person’s service in the period commencing on 1 July 1988 and ending on whichever date mentioned in paragraphs (a) to (e) of the definition of CDe applies to the person.
EFPe has the meaning given by subclause 14 (2).
14 Definitions of EFPs and EFPe
(1) In subclause 13 (3):
EFPs is the employer financed proportion of the person’s benefit at the date when the requirements of Division 2.2 of the Regulations were satisfied, calculated in accordance with the formula:
where:
EFBs is the employer financed component of the benefit that is payable to the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied, worked out in accordance with the formula:
where:
V0 is the sum of all the probability weighted employer funded accrued benefits worked out in step 1 of the method set out in clause 2.
m is the number of complete months in the period commencing on 1 July before the date when the requirements of Division 2.2 of the Regulations were satisfied and ending at the end of the date when those requirements were satisfied.
V1 is the sum of all the probability weighted employer funded accrued benefits worked out in step 3 of the method set out in clause 2 .
TPCIs is the total amount of the person’s contributions and interest, being the amount that would have been required to be calculated under subsection 33B (4) of the NSW Superannuation Act if a benefit had been payable to the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied.
(2) In subclause 13 (3):
EFPe is the employer financed proportion of the person’s benefit at the date when:
(a) the person elected, under paragraph 20AB (1) (b) of the NSW Superannuation Act, to make provision for a benefit provided by Division 3A of Part 4 of that Act; or
(b) the person elected to take the benefit of Division 3A of Part 4 of the NSW Superannuation Act; or
(c) Subsection 52IA (1) of the NSW Superannuation Act first applied to the person; or
(d) the person elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to preserve a benefit provided for by Division 3A of Part 4 of that Act; or
(e) the person was taken, under subclause 2 (1) of Schedule 23 to the NSW Superannuation Act, to have elected to take the benefit of Division 3A of Part 4 of that Act;
calculated in accordance with the formula:
where:
EFBe is the employer financed component of benefit that is payable to the person, calculated in accordance with the formula:
where:
P1 is the amount of fortnightly pension that would be calculated under subsection 52A (2) of the NSW Superannuation Act in respect of the person if the person was entitled to a pension under section 52C of that Act at:
(a) in the case of a person, who has elected, under paragraph 20AB (1) (b) of the NSW Superannuation Act, to make provision for a benefit provided by Division 3A of Part 4 of that Act — the date when the person elected to make provision for that benefit; or
(b) in the case of a person who has elected to take the benefit of Division 3A of Part 4 of the NSW Superannuation Act — the date that was the person’s exit day, within the meaning given by subsection 3 (1) of that Act; or
(c) in the case of a person to whom subsection 52IA (1) of the NSW Superannuation Act applies — the date when subsection 52IA (1) first so applied; or
(d) in the case of a person who has elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to preserve a benefit provided for by Division 3A of Part 4 of that Act — the date that was the exit day for the person under Division 3B of Part 4 of that Act; or
(e) in the case of a person who is taken, under subclause 2 (1) of Schedule 23 to the NSW Superannuation Act, to have elected to take the benefit of Division 3A of Part 4 of that Act — the date when Part 1 of Schedule 23 first applied to the person.
PF1y+m has the meaning given by subclause 12 (1), modified so that a reference to ‘the relevant date’ in that definition is a reference to whichever date mentioned in paragraphs (a) to (e) of the definition of P1 applies to the person.
P2 is the amount of fortnightly pension that would be calculated under subsection 52A (3) of the NSW Superannuation Act in respect of the person if the person was entitled to a pension under section 52C of that Act at whichever date mentioned in paragraphs (a) to (e) of the definition of P1 applies to the person.
PF2y+m has the meaning given by subclause 12 (2), modified so that a reference to ‘the relevant date’ in that definition is a reference to whichever date mentioned in paragraphs (a) to (e) of the definition of P1 applies to the person.
TPCIe is the amount calculated under subsection 33B (4) of the NSW Superannuation Act at whichever date mentioned in paragraphs (a) to (e) of the definition of P1 applies to the person.
Subdivision 8.2.4 Deferred benefits — Division 3B of Part 4 of the NSW Superannuation Act
15 Method for interest in SS Scheme
For an interest:
(a) that is held by:
(i) a person who has elected, under paragraph 52N (1) (a) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act; or
(ii) a person who has elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act; and
(b) that is in the growth phase in the SS Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: LS is the amount of the lump sum benefit (if any) that would be payable to the person under section 52S of the NSW Superannuation Act if he or she applied on the relevant date for payment of the benefit after his or her resignation, retirement or other cessation of employment. P is the annual rate of pension (if any) that would be payable to the person under section 52S of the NSW Superannuation Act if he or she applied on the relevant date for payment of the pension after his or her resignation, retirement or other cessation of employment. PFy+m is the factor calculated in accordance with the formula: 
where: PFy is the age retirement pension valuation factor mentioned in Table 8 of Division 8.4 that is applicable, given: (a) the person’s age in completed years (y) at the relevant date; and (b) the person’s gender. |
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date. PFy+1 is the age retirement pension valuation factor mentioned in Table 8 of Division 8.4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is. R is the reduction factor under clause 16. |
16 Reduction factor
(1) For clause 15, the reduction factor is:
(a) if paragraphs (b), (c) and (d) do not apply — 1; or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied:
(i) after the date when:
(A) the person elected, under paragraph 52N (1) (a) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act; or
(B) the person elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act; and
(ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
the factor calculated in accordance with the formula set out in subclause (2); or
(c) if the requirements of Division 2.2 of the Regulations have been satisfied:
(i) before the date when:
(A) the person elected, under paragraph 52N (1) (a) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act; or
(B) the person elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act; and
(ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
the factor calculated in accordance with the formula set out in subclause (3); or
(d) if the requirements of Division 2.2 of the Regulations have been satisfied in relation to the entitlements of 2 or more spouses of the person, being entitlements each arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the factors calculated in accordance with whichever of paragraphs (b) and (c) is applicable, in respect of each entitlement.
(2) For paragraph (1) (b), the factor is calculated in accordance with the formula:
1 – NMProp
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 15.
(3) For paragraph (1) (c), the factor is calculated in accordance with the formula:
1 – NMProp ESProp
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 2.
ESProp is calculated in accordance with the formula:
where:
CDs is the total number of days of the person’s service as at the date when the requirements of Division 2.2 of the Regulations were satisfied.
Bs is the number of days of the person’s service in the period commencing on 1 July 1988 and ending on the date when the requirements of Division 2.2 of the Regulations were satisfied.
EFPs has the meaning given by subclause 17 (1).
CDe is the total number of days of the person’s service at:
(a) in the case of a person who has elected, under paragraph 52N (1) (a) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act — the date that was the exit day for the person under Division 3B of Part 4 of that Act; or
(b) in the case of a person who has elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act — the date when Part 1 of Schedule 23 first applied to the person.
Be is the number of days of the person’s service in the period commencing on 1 July 1988 and ending on whichever date mentioned in paragraph (a) or (b) of the definition of CDe applies to the person.
EFPe has the meaning given by subclause 17 (2).
17 Definitions of EFPs and EFPe
(1) In subclause 16 (3):
EFPs is the employer financed proportion of the person’s benefit at the date when the requirements of Division 2.2 of the Regulations were satisfied, calculated in accordance with the formula:
where:
EFBs is the employer financed component of the benefit that is payable to the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied, worked out in accordance with the formula:
where:
V0 is the sum of all the probability weighted employer funded accrued benefits worked out in step 1 of the method set out in clause 2.
V1 is the sum of all the probability weighted employer funded accrued benefits worked out in step 3 of the method set out in clause 2.
m is the number of complete months in the period commencing on 1 July before the date when the requirements of Division 2.2 of the Regulations were satisfied and ending at the end of the date when those requirements were satisfied.
TPCIs is the total amount of the person’s contributions and interest, being the amount that would have been required to be calculated under subsection 33B (4) of the NSW Superannuation Act if a benefit had been payable to the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied.
(2) In subclause 16 (3):
EFPe is the employer financed proportion of the person’s benefit at the date when:
(a) the person elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act; or
(b) the person elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act;
calculated in accordance with the formula:
where:
EFBe is the employer financed component of the benefit that is payable to the person, calculated in accordance with the formula:
where:
LS is the amount of the lump sum benefit (if any) that would be payable to the person under section 52S of the NSW Superannuation Act if he or she had applied for payment of the benefit at:
(a) in the case of a person who has elected, under paragraph 52N (1) (a) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act — the date that was the exit day for the person under Division 3B of Part 4 of that Act; or
(b) in the case of a person who has elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act — the date when Part 1 of Schedule 23 first applied to the person.
P is the amount of annual pension (if any) that would be payable to the person under section 52S of the NSW Superannuation Act if he or she had applied for payment of the pension at whichever date mentioned in paragraph (a) or (b) of the definition of LS applies to the person.
PFy+m has the meaning given by the method set out in clause 15, modified so that a reference to ‘the relevant date’ in that definition is a reference to whichever date mentioned in paragraph (a) or (b) of the definition of LS applies to the person.
TPCIe is the total amount of the person’s contributions and interest, being the total amount that would be required to be calculated under subsection 33B (4) of the NSW Superannuation Act at whichever date mentioned in paragraph (a) or (b) of the definition of LS applies to the person.
Subdivision 8.2.5 Deferred benefits — Division 3D of Part 4 of the NSW Superannuation Act
18 Method for interest in SS Scheme
For an interest:
(a) that is held by a person who is entitled to a benefit which has been preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
(b) that is in the growth phase in the SS Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: LS is the amount of the lump sum benefit that would be payable to the person: (a) under section 52Z of the NSW Superannuation Act on the person’s retirement (within the meaning given by subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994); and (b) if the person’s retirement was on the relevant day. P is the annual rate of pension that: (a) would be payable to the person under section 52Z of the NSW Superannuation Act on his or her retirement (within the meaning given by subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994) if the person’s retirement were on the relevant date; and (b) is in addition to any pension being paid to the person. APFy+m has the meaning given by clause 19. PF has the meaning given by clause 20. DFy+m has the meaning given by clause 21. R is the reduction factor under clause 22. |
19 Meaning of APFy+m
In clause 18:
APFy+m is:
(a) if the person is 60 years or more at the relevant date — 0; or
(b) in any other case — the annuity factor calculated in accordance with the formula:
where:
APFy is the annuity factor mentioned in Table 9 of Division 8.4 that is applicable given the person’s age in completed years (y) at the relevant date.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
APFy+1 is the annuity factor mentioned in Table 9 of Division 8.4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
20 Meaning of PF
In clause 18:
PF is:
(a) for a person who is less than 60 years at the relevant date and:
(i) male — 15.533; or
(ii) female — 17.169; or
(b) in any other case — the factor calculated in accordance with the formula:
where:
PFy is the age retirement pension valuation factor mentioned in Table 8 of Division 8.4 that is applicable, given:
(a) the person’s age in completed years (y) at the relevant date; and
(b) the person’s gender.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
PFy+1 is the age retirement pension valuation factor mentioned in Table 8 of Division 8.4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
21 Meaning of DFy+m
In clause 18:
DFy+m is:
(a) if the person is 60 years or more at the relevant date — 1; or
(b) in any other case — the factor calculated in accordance with the formula:
where:
DFy is the discount factor mentioned in Table 9 of Division 8.4 that is applicable given the person’s age in completed years (y) at the relevant date.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
DFy+1 is the valuation factor mentioned in Table 9 of Division 8.4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
22 Reduction factor
(1) For clause 18, the reduction factor is:
(a) if paragraphs (b), (c) and (d) do not apply — 1; or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied:
(i) after the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
(ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
the factor calculated in accordance with the formula set out in subclause (2); or
(c) if the requirements of Division 2.2 of the Regulations have been satisfied:
(i) before the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
(ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
the factor calculated in accordance with the formula set out in subclause (3); or
(d) if the requirements of Division 2.2 of the Regulations have been satisfied in relation to the entitlements of 2 or more spouses of the person, being entitlements each arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the factors calculated in accordance with whichever of paragraphs (b) or (c) is applicable, in respect of each entitlement.
(2) For paragraph (1) (b), the factor is calculated in accordance with the formula:
1 – NMProp
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 18.
(3) For paragraph (1) (c), the factor is calculated in accordance with the formula:
1 – NMProp ESProp
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 2.
ESProp is calculated in accordance with the formula:
where:
CDs is the total number of days of the person’s service as at the date when the requirements of Division 2.2 of the Regulations were satisfied.
Bs is the number of days of the person’s service in the period commencing on 1 July 1988 and ending on the date when the requirements of Division 2.2 of the Regulations were satisfied.
EFPs has the meaning given by subclause 23 (1).
CDe is the total number of days of the person’s service at the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act.
Be is the number of days of the person’s service in the period commencing on 1 July 1988 and ending on the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act.
EFPe has the meaning given by subclause 23 (2).
23 Definitions of EFPs and EFPe
(1) In subclause 22 (3):
EFPs is the employer financed proportion of the person’s benefit at the date when the requirements of Division 2.2 of the Regulations were satisfied, calculated in accordance with the formula:
where:
EFBs is the employer financed component of the benefit that is payable to the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied, worked out in accordance with the formula:
where:
V0 is the sum of all the probability weighted employer funded accrued benefits worked out in step 1 of the method set out in clause 2.
V1 is the sum of all the probability weighted employer funded accrued benefits worked out in step 3 of the method set out in clause 2.
m is the number of complete months in the period commencing on 1 July before the date when the requirements of Division 2.2 of the Regulations were satisfied and ending at the end of the date when those requirements were satisfied.
TPCIs is the total amount of the person’s contributions and interest, being the amount that would have been required to be calculated under subsection 33B (4) of the NSW Superannuation Act if a benefit had been payable to the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied.
(2) In subclause 22 (3):
EFBe is the employer financed component of the benefit that is payable to the person, calculated in accordance with the formula:
where:
LS is the amount of the lump sum benefit that would be payable to the person under section 52Z of the NSW Superannuation Act on the person’s retirement (within the meaning given by subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994) if the person’s retirement had occurred on the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act.
P is the amount of annual pension:
(a) that would be payable to the person under section 52Z of the NSW Superannuation Act on the person’s retirement (within the meaning given by subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994) if the person’s retirement had occurred on the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
(b) that is in addition to any pension being paid to the person.
APFy+m has the meaning given by the method set out in clause 19, modified so that a reference to ‘the relevant date’ in that definition is a reference to ‘the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act’.
PF has the meaning given by the method set out in clause 20, modified so that a reference to ‘the relevant date’ in that definition is a reference to ‘the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act’.
DFy+m has the meaning given by the method set out in clause 21, modified so that a reference to ‘the relevant date’ in that definition is a reference to ‘the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act’.
TPCIe is the total amount of the person’s contributions and interest, being the total amount that would be required to be calculated under subsection 33B (4) of the NSW Superannuation Act at the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act.
Division 8.3 Interests in the payment phase
24 Method for interests in SS Scheme
For an interest:
(a) that is held by a person who is entitled to be paid a pension under the SS Scheme; and
(b) that is in the payment phase in the SS Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Method |
where: P is the amount of annual pension benefit that is payable to the person in respect of the interest at the relevant date. PFy+m is the amount calculated in accordance with the formula:
where: PFy is the valuation factor mentioned in Table 8 of Division 8.4 that is applicable, given: (a) the person’s age in completed years (y) at the relevant date; and (b) the person’s gender; and (c) the type of pension. m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date. PFy+1 is the valuation factor mentioned in Table 8 of Division 8.4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is. |
Division 8.4 Factors, probabilities and proportions of optional units for which contributions are required to be made
Table 1 Discount factors
Note Step 3 of the method set out in clause 2 modifies the discount factor that applies to a calculation year by replacing the reference to ‘1 July in the financial year in which the relevant date occurs’ in the heading of column 1 of the following table with a reference to ‘1 July after the relevant date’.
Number of years in the period commencing on 1 July in the financial year in which the relevant date occurs and ending on 1 July in the calculation year | Discount factor (dt) |
1 | 1.099 |
2 | 1.171 |
3 | 1.247 |
4 | 1.328 |
5 | 1.414 |
6 | 1.506 |
7 | 1.604 |
8 | 1.708 |
9 | 1.819 |
10 | 1.937 |
11 | 2.063 |
12 | 2.197 |
13 | 2.340 |
14 | 2.492 |
15 | 2.654 |
16 | 2.827 |
17 | 3.010 |
18 | 3.206 |
19 | 3.414 |
20 | 3.636 |
21 | 3.873 |
22 | 4.124 |
23 | 4.393 |
24 | 4.678 |
25 | 4.982 |
26 | 5.306 |
27 | 5.651 |
28 | 6.018 |
29 | 6.409 |
30 | 6.826 |
31 | 7.270 |
32 | 7.742 |
33 | 8.245 |
34 | 8.781 |
35 | 9.352 |
36 | 9.960 |
37 | 10.607 |
38 | 11.297 |
39 | 12.031 |
40 | 12.813 |
Table 2 Probability that particular benefits will be payable — males
Age | Retirement pension under section 27, 28, 28A or 28AA of the NSW Superannuation Act | Invalidity pension under section 29 of the NSW Superannuation Act | Pension on death of contributor under section 30 of the NSW Superannuation Act | Amount payable on death of contributor under section 32A of the NSW Superannuation Act | Amount payable on resignation under section 38A of the NSW Superannuation Act | Preservation pension under Division 3A of Part 4 of the NSW Superannuation Act |
26 | 0.0000 | 0.0024 | 0.0002 | 0.0002 | 0.0216 | 0.0073 |
27 | 0.0000 | 0.0027 | 0.0002 | 0.0002 | 0.0210 | 0.0080 |
28 | 0.0000 | 0.0027 | 0.0002 | 0.0002 | 0.0205 | 0.0086 |
29 | 0.0000 | 0.0030 | 0.0003 | 0.0002 | 0.0194 | 0.0091 |
30 | 0.0000 | 0.0030 | 0.0003 | 0.0002 | 0.0178 | 0.0092 |
31 | 0.0000 | 0.0033 | 0.0003 | 0.0002 | 0.0163 | 0.0092 |
32 | 0.0000 | 0.0033 | 0.0003 | 0.0002 | 0.0143 | 0.0089 |
33 | 0.0000 | 0.0033 | 0.0003 | 0.0002 | 0.0120 | 0.0081 |
34 | 0.0000 | 0.0033 | 0.0003 | 0.0002 | 0.0097 | 0.0072 |
35 | 0.0000 | 0.0033 | 0.0003 | 0.0002 | 0.0085 | 0.0068 |
36 | 0.0000 | 0.0033 | 0.0003 | 0.0002 | 0.0078 | 0.0068 |
37 | 0.0000 | 0.0036 | 0.0003 | 0.0002 | 0.0071 | 0.0067 |
38 | 0.0000 | 0.0036 | 0.0004 | 0.0002 | 0.0064 | 0.0067 |
39 | 0.0000 | 0.0036 | 0.0004 | 0.0002 | 0.0058 | 0.0065 |
40 | 0.0000 | 0.0039 | 0.0004 | 0.0002 | 0.0052 | 0.0063 |
41 | 0.0000 | 0.0042 | 0.0003 | 0.0003 | 0.0050 | 0.0066 |
42 | 0.0000 | 0.0045 | 0.0004 | 0.0003 | 0.0048 | 0.0068 |
43 | 0.0000 | 0.0048 | 0.0004 | 0.0003 | 0.0046 | 0.0070 |
44 | 0.0000 | 0.0054 | 0.0004 | 0.0004 | 0.0044 | 0.0072 |
45 | 0.0000 | 0.0060 | 0.0004 | 0.0004 | 0.0041 | 0.0074 |
46 | 0.0000 | 0.0062 | 0.0004 | 0.0005 | 0.0037 | 0.0075 |
47 | 0.0000 | 0.0065 | 0.0004 | 0.0005 | 0.0034 | 0.0076 |
48 | 0.0000 | 0.0075 | 0.0004 | 0.0006 | 0.0029 | 0.0077 |
49 | 0.0000 | 0.0088 | 0.0005 | 0.0006 | 0.0026 | 0.0078 |
50 | 0.0000 | 0.0103 | 0.0005 | 0.0007 | 0.0023 | 0.0080 |
51 | 0.0000 | 0.0108 | 0.0005 | 0.0009 | 0.0020 | 0.0083 |
52 | 0.0000 | 0.0112 | 0.0004 | 0.0011 | 0.0016 | 0.0087 |
53 | 0.0000 | 0.0128 | 0.0004 | 0.0013 | 0.0012 | 0.0093 |
54 | 0.0000 | 0.0144 | 0.0003 | 0.0016 | 0.0009 | 0.0097 |
55 | 0.0900 | 0.0160 | 0.0002 | 0.0019 | 0.0000 | 0.0000 |
56 | 0.0650 | 0.0176 | 0.0002 | 0.0020 | 0.0000 | 0.0000 |
57 | 0.1000 | 0.0192 | 0.0003 | 0.0023 | 0.0000 | 0.0000 |
58 | 0.1400 | 0.0208 | 0.0003 | 0.0026 | 0.0000 | 0.0000 |
59 | 0.2500 | 0.0224 | 0.0003 | 0.0029 | 0.0000 | 0.0000 |
60 | 0.6800 | 0.0000 | 0.0004 | 0.0032 | 0.0000 | 0.0000 |
61 | 0.4300 | 0.0000 | 0.0004 | 0.0036 | 0.0000 | 0.0000 |
62 | 0.2900 | 0.0000 | 0.0005 | 0.0041 | 0.0000 | 0.0000 |
63 | 0.3000 | 0.0000 | 0.0005 | 0.0045 | 0.0000 | 0.0000 |
64 | 0.4800 | 0.0000 | 0.0006 | 0.0050 | 0.0000 | 0.0000 |
65 or over | 1.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Table 3 Probability that particular benefits will be payable — females
Age | Retirement pension under section 27, 28, 28A or 28AA of the NSW Superannuation Act | Invalidity pension under section 29 of the NSW Superannuation Act | Pension on death of contributor under section 30 of the NSW Superannuation Act | Amount payable on death of contributor under section 32A of the NSW Superannuation Act | Amount payable on resignation under section 38A of the NSW Superannuation Act | Preservation pension under Division 3A of Part 4 of the NSW Superannuation Act |
Retirement age — 55 years | Retirement age — 60 years | Retirement age — 55 years | Retirement age — 60 years | Retirement age — 55 years | Retirement age — 60 years |
26 | 0.0000 | 0.0000 | 0.0006 | 0.0001 | 0.0001 | 0.0333 | 0.0204 | 0.0105 | 0.0120 |
27 | 0.0000 | 0.0000 | 0.0006 | 0.0001 | 0.0001 | 0.0324 | 0.0204 | 0.0113 | 0.0120 |
28 | 0.0000 | 0.0000 | 0.0006 | 0.0001 | 0.0001 | 0.0315 | 0.0204 | 0.0122 | 0.0120 |
29 | 0.0000 | 0.0000 | 0.0006 | 0.0001 | 0.0001 | 0.0306 | 0.0204 | 0.0130 | 0.0122 |
30 | 0.0000 | 0.0000 | 0.0006 | 0.0001 | 0.0001 | 0.0297 | 0.0204 | 0.0138 | 0.0124 |
31 | 0.0000 | 0.0000 | 0.0009 | 0.0001 | 0.0001 | 0.0269 | 0.0204 | 0.0136 | 0.0126 |
32 | 0.0000 | 0.0000 | 0.0009 | 0.0001 | 0.0001 | 0.0242 | 0.0192 | 0.0133 | 0.0130 |
33 | 0.0000 | 0.0000 | 0.0012 | 0.0001 | 0.0001 | 0.0216 | 0.0192 | 0.0130 | 0.0134 |
34 | 0.0000 | 0.0000 | 0.0015 | 0.0001 | 0.0001 | 0.0191 | 0.0168 | 0.0125 | 0.0135 |
35 | 0.0000 | 0.0000 | 0.0018 | 0.0001 | 0.0001 | 0.0168 | 0.0150 | 0.0119 | 0.0130 |
36 | 0.0000 | 0.0000 | 0.0018 | 0.0001 | 0.0001 | 0.0146 | 0.0138 | 0.0112 | 0.0125 |
37 | 0.0000 | 0.0000 | 0.0018 | 0.0002 | 0.0002 | 0.0125 | 0.0126 | 0.0104 | 0.0120 |
38 | 0.0000 | 0.0000 | 0.0018 | 0.0002 | 0.0002 | 0.0105 | 0.0108 | 0.0095 | 0.0115 |
39 | 0.0000 | 0.0000 | 0.0021 | 0.0002 | 0.0002 | 0.0086 | 0.0090 | 0.0085 | 0.0110 |
40 | 0.0000 | 0.0000 | 0.0021 | 0.0002 | 0.0002 | 0.0074 | 0.0072 | 0.0075 | 0.0105 |
41 | 0.0000 | 0.0000 | 0.0024 | 0.0001 | 0.0002 | 0.0062 | 0.0060 | 0.0060 | 0.0100 |
42 | 0.0000 | 0.0000 | 0.0027 | 0.0002 | 0.0002 | 0.0049 | 0.0048 | 0.0050 | 0.0090 |
43 | 0.0000 | 0.0000 | 0.0033 | 0.0002 | 0.0002 | 0.0042 | 0.0042 | 0.0050 | 0.0080 |
44 | 0.0000 | 0.0000 | 0.0039 | 0.0002 | 0.0002 | 0.0038 | 0.0036 | 0.0050 | 0.0070 |
45 | 0.0000 | 0.0000 | 0.0045 | 0.0002 | 0.0003 | 0.0035 | 0.0030 | 0.0060 | 0.0075 |
46 | 0.0000 | 0.0000 | 0.0058 | 0.0002 | 0.0003 | 0.0029 | 0.0030 | 0.0060 | 0.0080 |
47 | 0.0000 | 0.0000 | 0.0065 | 0.0002 | 0.0004 | 0.0026 | 0.0030 | 0.0060 | 0.0081 |
48 | 0.0000 | 0.0000 | 0.0075 | 0.0002 | 0.0004 | 0.0023 | 0.0030 | 0.0065 | 0.0082 |
49 | 0.0000 | 0.0000 | 0.0088 | 0.0002 | 0.0005 | 0.0020 | 0.0030 | 0.0065 | 0.0085 |
50 | 0.0000 | 0.0000 | 0.0103 | 0.0002 | 0.0006 | 0.0013 | 0.0030 | 0.0069 | 0.0090 |
51 | 0.0000 | 0.0000 | 0.0108 | 0.0002 | 0.0007 | 0.0009 | 0.0030 | 0.0073 | 0.0095 |
52 | 0.0000 | 0.0000 | 0.0112 | 0.0001 | 0.0009 | 0.0004 | 0.0030 | 0.0077 | 0.0100 |
53 | 0.0000 | 0.0000 | 0.0128 | 0.0001 | 0.0010 | 0.0003 | 0.0030 | 0.0078 | 0.0103 |
54 | 0.0000 | 0.0000 | 0.0144 | 0.0001 | 0.0011 | 0.0001 | 0.0030 | 0.0080 | 0.0106 |
55 | 0.6900 | 0.1200 | 0.0160 | 0.0001 | 0.0012 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
56 | 0.2900 | 0.0650 | 0.0176 | 0.0001 | 0.0013 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
57 | 0.2300 | 0.0650 | 0.0192 | 0.0001 | 0.0014 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
58 | 0.2300 | 0.0900 | 0.0208 | 0.0001 | 0.0016 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
59 | 0.2400 | 0.2400 | 0.0224 | 0.0001 | 0.0017 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
60 | 0.2500 | 0.6400 | 0.0000 | 0.0001 | 0.0019 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
61 | 0.2200 | 0.3500 | 0.0000 | 0.0001 | 0.0021 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
62 | 0.2600 | 0.3500 | 0.0000 | 0.0001 | 0.0023 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
63 | 0.1400 | 0.2100 | 0.0000 | 0.0001 | 0.0026 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
64 | 0.4400 | 0.4500 | 0.0000 | 0.0001 | 0.0028 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
65 or over | 1.0000 | 1.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Table 4 Valuation factors — contributors
| Age retirement pension under section 27, 28, 28A or 28AA of the NSW Superannuation Act | Invalidity pension under section 29 of the NSW Superannuation Act | Reversionary pension under section 30 or 31 of the NSW Superannuation Act |
Age | Male | Female | Male | Female | Spouse of male contributor | Spouse of female contributor |
25 | 23.570 | 23.420 | 22.872 | 22.325 | 23.584 | 22.717 |
26 | 23.472 | 23.311 | 22.770 | 22.186 | 23.481 | 22.588 |
27 | 23.369 | 23.198 | 22.664 | 22.042 | 23.373 | 22.454 |
28 | 23.263 | 23.080 | 22.553 | 21.894 | 23.261 | 22.314 |
29 | 23.152 | 22.958 | 22.438 | 21.742 | 23.144 | 22.168 |
30 | 23.037 | 22.833 | 22.317 | 21.585 | 23.024 | 22.016 |
31 | 22.917 | 22.701 | 22.192 | 21.422 | 22.900 | 21.858 |
32 | 22.792 | 22.565 | 22.061 | 21.255 | 22.771 | 21.694 |
33 | 22.663 | 22.423 | 21.930 | 21.082 | 22.636 | 21.524 |
34 | 22.529 | 22.276 | 21.793 | 20.904 | 22.498 | 21.348 |
35 | 22.389 | 22.122 | 21.650 | 20.720 | 22.355 | 21.165 |
36 | 22.244 | 21.962 | 21.502 | 20.529 | 22.205 | 20.974 |
37 | 22.093 | 21.798 | 21.346 | 20.332 | 22.050 | 20.775 |
38 | 21.936 | 21.626 | 21.185 | 20.130 | 21.888 | 20.568 |
39 | 21.773 | 21.447 | 21.021 | 19.922 | 21.720 | 20.354 |
40 | 21.604 | 21.262 | 20.849 | 19.707 | 21.545 | 20.132 |
41 | 21.383 | 21.054 | 20.584 | 19.425 | 21.365 | 19.901 |
42 | 21.153 | 20.837 | 20.311 | 19.135 | 21.177 | 19.662 |
43 | 20.912 | 20.612 | 20.026 | 18.835 | 20.982 | 19.413 |
44 | 20.661 | 20.378 | 19.734 | 18.527 | 20.780 | 19.156 |
45 | 20.398 | 20.133 | 19.429 | 18.211 | 20.570 | 18.889 |
46 | 20.123 | 19.880 | 19.115 | 17.887 | 20.353 | 18.612 |
47 | 19.837 | 19.616 | 18.792 | 17.557 | 20.126 | 18.326 |
48 | 19.539 | 19.342 | 18.461 | 17.220 | 19.893 | 18.030 |
49 | 19.228 | 19.059 | 18.121 | 16.878 | 19.649 | 17.722 |
50 | 18.903 | 18.765 | 17.770 | 16.529 | 19.398 | 17.404 |
51 | 18.438 | 18.460 | 17.195 | 16.175 | 19.136 | 17.077 |
52 | 17.949 | 18.143 | 16.601 | 15.814 | 18.865 | 16.736 |
53 | 17.437 | 17.816 | 15.989 | 15.447 | 18.586 | 16.386 |
54 | 16.900 | 17.476 | 15.356 | 15.075 | 18.296 | 16.023 |
55 | 16.365 | 17.150 | 14.737 | 14.731 | 17.997 | 17.269 |
56 | 16.063 | 16.872 | 14.470 | 14.474 | 17.687 | 16.944 |
57 | 15.754 | 16.586 | 14.196 | 14.215 | 17.366 | 16.607 |
58 | 15.435 | 16.295 | 13.916 | 13.954 | 17.033 | 16.260 |
59 | 15.108 | 15.998 | 13.630 | 13.689 | 18.657 | 15.901 |
60 | 14.773 | 15.697 | 13.338 | 13.422 | 18.375 | 15.533 |
61 | 14.486 | 15.443 | 13.108 | 13.218 | 18.083 | 15.156 |
62 | 14.194 | 15.183 | 12.872 | 13.010 | 17.784 | 14.772 |
63 | 13.895 | 14.917 | 12.631 | 12.797 | 17.479 | 14.380 |
64 | 13.588 | 14.642 | 12.387 | 12.580 | 17.169 | 13.978 |
65 | 13.276 | 14.361 | 12.138 | 12.356 | 16.851 | 13.567 |
66 | 12.956 | 14.074 | 11.884 | 12.127 | 16.525 | 13.148 |
67 | 12.630 | 13.779 | 11.624 | 11.893 | 16.190 | 12.720 |
68 | 12.296 | 13.478 | 11.358 | 11.655 | 15.846 | 12.282 |
69 | 11.954 | 13.169 | 11.086 | 11.412 | 15.495 | 11.834 |
70 | 11.605 | 12.855 | 10.814 | 11.166 | 15.135 | 11.376 |
71 | 11.248 | 12.534 | 10.542 | 10.915 | 14.766 | 10.908 |
72 | 10.884 | 12.206 | 10.267 | 10.661 | 14.388 | 10.432 |
73 | 10.517 | 11.873 | 9.991 | 10.404 | 14.002 | 9.951 |
74 | 10.146 | 11.535 | 9.714 | 10.143 | 13.609 | 9.465 |
75 | 9.771 | 11.193 | 9.437 | 9.877 | 13.207 | 8.975 |
76 | 9.394 | 10.847 | 9.159 | 9.605 | 12.797 | 8.484 |
77 | 9.026 | 10.500 | 8.882 | 9.326 | 12.381 | 8.003 |
78 | 8.668 | 10.151 | 8.607 | 9.039 | 11.959 | 7.539 |
79 | 8.323 | 9.804 | 8.334 | 8.742 | 11.532 | 7.094 |
80 | 7.994 | 9.458 | 8.065 | 8.436 | 11.100 | 6.672 |
81 | 7.684 | 9.113 | 7.801 | 8.130 | 10.667 | 6.279 |
82 | 7.393 | 8.771 | 7.545 | 7.828 | 10.232 | 5.912 |
83 | 7.118 | 8.431 | 7.296 | 7.528 | 9.799 | 5.570 |
84 | 6.859 | 8.093 | 7.058 | 7.230 | 9.367 | 5.250 |
85 | 6.612 | 7.763 | 6.830 | 6.942 | 8.937 | 4.947 |
86 | 6.373 | 7.444 | 6.609 | 6.663 | 8.510 | 4.656 |
87 | 6.144 | 7.137 | 6.394 | 6.398 | 8.085 | 4.378 |
88 | 5.923 | 6.845 | 6.188 | 6.146 | 7.663 | 4.114 |
89 | 5.710 | 6.567 | 5.989 | 5.912 | 7.251 | 3.859 |
90 | 5.505 | 6.306 | 5.797 | 5.693 | 6.853 | 3.614 |
91 | 5.302 | 6.060 | 5.608 | 5.491 | 6.470 | 3.373 |
92 | 5.109 | 5.827 | 5.429 | 5.303 | 6.105 | 3.146 |
93 | 4.929 | 5.605 | 5.263 | 5.127 | 5.760 | 2.935 |
94 | 4.764 | 5.391 | 5.109 | 4.959 | 5.434 | 2.741 |
95 | 4.612 | 5.182 | 4.968 | 4.798 | 5.128 | 2.564 |
96 | 4.458 | 4.975 | 4.823 | 4.640 | 4.840 | 2.402 |
97 | 4.312 | 4.766 | 4.686 | 4.481 | 4.565 | 2.254 |
98 | 4.173 | 4.550 | 4.556 | 4.316 | 4.301 | 2.116 |
99 or older | 4.037 | 4.319 | 4.429 | 4.136 | 4.042 | 1.985 |
Table 5 Factors for interests if the benefit has been deferred under Division 3A of Part 4 of NSW Superannuation Act
Age in completed years | P1 Pension valuation factor | P2 Pension valuation factor |
Male | Female | Male | Female |
25 | 1.724 | 1.793 | 4.092 | 4.257 |
26 | 1.834 | 1.909 | 4.248 | 4.419 |
27 | 1.952 | 2.031 | 4.410 | 4.588 |
28 | 2.078 | 2.161 | 4.578 | 4.763 |
29 | 2.211 | 2.300 | 4.753 | 4.945 |
30 | 2.352 | 2.447 | 4.934 | 5.134 |
31 | 2.503 | 2.605 | 5.122 | 5.330 |
32 | 2.663 | 2.771 | 5.317 | 5.533 |
33 | 2.834 | 2.949 | 5.520 | 5.744 |
34 | 3.015 | 3.138 | 5.730 | 5.963 |
35 | 3.208 | 3.339 | 5.948 | 6.191 |
36 | 3.414 | 3.553 | 6.175 | 6.427 |
37 | 3.633 | 3.781 | 6.410 | 6.672 |
38 | 3.865 | 4.024 | 6.654 | 6.927 |
39 | 4.112 | 4.281 | 6.908 | 7.191 |
40 | 4.376 | 4.556 | 7.170 | 7.465 |
41 | 4.648 | 4.833 | 7.431 | 7.727 |
42 | 4.938 | 5.130 | 7.701 | 8.000 |
43 | 5.246 | 5.458 | 7.982 | 8.305 |
44 | 5.572 | 5.807 | 8.271 | 8.620 |
45 | 5.919 | 6.178 | 8.572 | 8.948 |
46 | 6.245 | 6.573 | 8.824 | 9.288 |
47 | 6.592 | 6.994 | 9.087 | 9.641 |
48 | 6.962 | 7.441 | 9.363 | 10.007 |
49 | 7.356 | 7.917 | 9.651 | 10.387 |
50 | 7.776 | 8.423 | 9.953 | 10.782 |
51 | 8.224 | 8.957 | 10.270 | 11.186 |
52 | 8.749 | 9.530 | 10.659 | 11.612 |
53 | 9.307 | 10.140 | 11.063 | 12.054 |
54 | 9.901 | 10.789 | 11.482 | 12.513 |
55 | 10.532 | 11.480 | 11.916 | 12.989 |
56 | 11.204 | 12.215 | 12.367 | 13.483 |
57 | 11.919 | 12.996 | 12.835 | 13.996 |
58 | 12.678 | 13.828 | 13.320 | 14.528 |
59 | 13.485 | 14.712 | 13.822 | 15.080 |
60 | 14.342 | 15.651 | 14.342 | 15.651 |
61 | 14.041 | 15.397 | 14.041 | 15.397 |
62 | 13.734 | 15.136 | 13.734 | 15.136 |
63 | 13.420 | 14.869 | 13.420 | 14.869 |
64 | 13.099 | 14.594 | 13.099 | 14.594 |
65 | 12.770 | 14.312 | 12.770 | 14.312 |
66 | 12.435 | 14.024 | 12.435 | 14.024 |
67 | 12.092 | 13.729 | 12.092 | 13.729 |
68 | 11.742 | 13.427 | 11.742 | 13.427 |
69 | 11.384 | 13.119 | 11.384 | 13.119 |
70 or more | 11.018 | 12.804 | 11.018 | 12.804 |
Table 6 Proportion of optional units for which contributions are required to be made — persons who first became contributors on or before 30 June 1963
Age | Males | Females — units for retirement at 55 years | Females — units for retirement at 60 years |
26 | 1.00 | 1.00 | 1.00 |
27 | 1.00 | 1.00 | 1.00 |
28 | 1.00 | 1.00 | 1.00 |
29 | 1.00 | 1.00 | 1.00 |
30 | 1.00 | 1.00 | 1.00 |
31 | 1.00 | 1.00 | 1.00 |
32 | 1.00 | 1.00 | 1.00 |
33 | 1.00 | 1.00 | 1.00 |
34 | 1.00 | 1.00 | 1.00 |
35 | 1.00 | 1.00 | 1.00 |
36 | 1.00 | 1.00 | 1.00 |
37 | 1.00 | 1.00 | 1.00 |
38 | 1.00 | 1.00 | 1.00 |
39 | 1.00 | 1.00 | 1.00 |
40 | 1.00 | 0.70 | 0.90 |
41 | 1.00 | 0.70 | 0.90 |
42 | 1.00 | 0.70 | 0.90 |
43 | 1.00 | 0.70 | 0.90 |
44 | 1.00 | 0.70 | 0.90 |
45 | 1.00 | 0.70 | 0.90 |
46 | 0.86 | 0.70 | 0.90 |
47 | 0.86 | 0.70 | 0.90 |
48 | 0.86 | 0.70 | 0.90 |
49 | 0.86 | 0.70 | 0.90 |
50 | 0.86 | 0.70 | 0.90 |
51 | 0.86 | 0.70 | 0.90 |
52 | 0.86 | 0.70 | 0.90 |
53 | 0.86 | 0.70 | 0.90 |
54 | 0.86 | 0.70 | 0.90 |
55 | 0.86 | 0.70 | 0.90 |
56 | 0.86 | 0.70 | 0.90 |
57 | 0.86 | 0.70 | 0.90 |
58 | 0.86 | 0.70 | 0.90 |
59 | 0.86 | 0.70 | 0.90 |
60 | 0.86 | 0.70 | 0.90 |
61 | 0.86 | 0.70 | 0.90 |
62 | 0.86 | 0.70 | 0.90 |
63 | 0.86 | 0.70 | 0.90 |
64 | 0.86 | 0.70 | 0.90 |
65 | 0.86 | 0.70 | 0.90 |
Table 7 Proportion of optional units for which contributions are required to be made — persons who first became contributors after 30 June 1963
Age | Males | Females — units for retirement at 55 years | Females — units for retirement at 60 years |
26 | 1.00 | 1.00 | 1.00 |
27 | 1.00 | 1.00 | 1.00 |
28 | 1.00 | 1.00 | 1.00 |
29 | 1.00 | 1.00 | 1.00 |
30 | 1.00 | 1.00 | 1.00 |
31 | 1.00 | 1.00 | 1.00 |
32 | 1.00 | 1.00 | 1.00 |
33 | 1.00 | 1.00 | 1.00 |
34 | 1.00 | 1.00 | 1.00 |
35 | 1.00 | 1.00 | 1.00 |
36 | 1.00 | 1.00 | 1.00 |
37 | 1.00 | 1.00 | 1.00 |
38 | 1.00 | 1.00 | 1.00 |
39 | 1.00 | 1.00 | 1.00 |
40 | 1.00 | 0.95 | 0.99 |
41 | 1.00 | 0.90 | 0.98 |
42 | 1.00 | 0.85 | 0.97 |
43 | 1.00 | 0.80 | 0.96 |
44 | 1.00 | 0.75 | 0.95 |
45 | 1.00 | 0.70 | 0.93 |
46 | 0.98 | 0.65 | 0.91 |
47 | 0.96 | 0.60 | 0.87 |
48 | 0.94 | 0.55 | 0.83 |
49 | 0.92 | 0.50 | 0.79 |
50 | 0.90 | 0.40 | 0.74 |
51 | 0.85 | 0.40 | 0.68 |
52 | 0.80 | 0.40 | 0.61 |
53 | 0.75 | 0.40 | 0.54 |
54 | 0.70 | 0.40 | 0.50 |
55 | 0.65 | 0.40 | 0.50 |
56 | 0.60 | 0.40 | 0.50 |
57 | 0.55 | 0.40 | 0.50 |
58 | 0.50 | 0.40 | 0.50 |
59 | 0.50 | 0.40 | 0.50 |
60 | 0.50 | 0.40 | 0.50 |
61 | 0.50 | 0.40 | 0.50 |
62 | 0.50 | 0.40 | 0.50 |
63 | 0.50 | 0.40 | 0.50 |
64 | 0.50 | 0.40 | 0.50 |
65 | 0.50 | 0.40 | 0.50 |
Table 8 Valuation factors — pensioners
Age | Age retirement pension under section 27, 28, 28A or 28AA of the NSW Superannuation Act | Invalidity pension under section 29 of the NSW Superannuation Act | Reversionary pension under section 30 or 31 of the NSW Superannuation Act |
Male | Female | Male | Female | Male | Female |
25 | 23.049 | 23.311 | 21.621 | 21.807 | 22.717 | 23.144 |
26 | 22.933 | 23.198 | 21.490 | 21.653 | 22.588 | 23.024 |
27 | 22.811 | 23.080 | 21.354 | 21.494 | 22.454 | 22.900 |
28 | 22.684 | 22.958 | 21.212 | 21.331 | 22.314 | 22.771 |
29 | 22.552 | 22.830 | 21.065 | 21.163 | 22.168 | 22.636 |
30 | 22.414 | 22.700 | 20.911 | 20.991 | 22.016 | 22.498 |
31 | 22.271 | 22.563 | 20.750 | 20.814 | 21.858 | 22.355 |
32 | 22.122 | 22.422 | 20.584 | 20.631 | 21.694 | 22.205 |
33 | 21.968 | 22.275 | 20.419 | 20.443 | 21.524 | 22.050 |
34 | 21.808 | 22.122 | 20.246 | 20.249 | 21.348 | 21.888 |
35 | 21.642 | 21.962 | 20.067 | 20.049 | 21.165 | 21.720 |
36 | 21.468 | 21.796 | 19.880 | 19.843 | 20.974 | 21.545 |
37 | 21.288 | 21.625 | 19.684 | 19.630 | 20.775 | 21.365 |
38 | 21.100 | 21.447 | 19.481 | 19.412 | 20.568 | 21.177 |
39 | 20.906 | 21.262 | 19.277 | 19.189 | 20.354 | 20.982 |
40 | 20.705 | 21.070 | 19.064 | 18.960 | 20.132 | 20.780 |
41 | 20.481 | 20.842 | 18.817 | 18.614 | 19.901 | 20.570 |
42 | 20.250 | 20.608 | 18.566 | 18.271 | 19.662 | 20.353 |
43 | 20.009 | 20.390 | 18.304 | 18.015 | 19.413 | 20.126 |
44 | 19.759 | 20.166 | 18.039 | 17.755 | 19.156 | 19.893 |
45 | 19.499 | 19.931 | 17.762 | 17.489 | 18.889 | 19.649 |
46 | 19.164 | 19.690 | 17.364 | 17.219 | 18.612 | 19.398 |
47 | 18.821 | 19.438 | 16.966 | 16.944 | 18.326 | 19.136 |
48 | 18.469 | 19.177 | 16.569 | 16.665 | 18.030 | 18.865 |
49 | 18.107 | 18.908 | 16.173 | 16.383 | 17.722 | 18.586 |
50 | 17.735 | 18.630 | 15.777 | 16.097 | 17.404 | 18.296 |
51 | 17.356 | 18.335 | 15.380 | 15.787 | 17.077 | 17.997 |
52 | 17.026 | 18.038 | 15.081 | 15.494 | 16.736 | 17.687 |
53 | 16.686 | 17.731 | 14.774 | 15.195 | 16.386 | 17.366 |
54 | 16.335 | 17.412 | 14.458 | 14.892 | 16.023 | 17.033 |
55 | 17.269 | 18.657 | 15.249 | 15.849 | 17.269 | 18.657 |
56 | 16.944 | 18.375 | 14.968 | 15.597 | 16.944 | 18.375 |
57 | 16.607 | 18.083 | 14.681 | 15.341 | 16.607 | 18.083 |
58 | 16.260 | 17.784 | 14.385 | 15.083 | 16.260 | 17.784 |
59 | 15.901 | 17.479 | 14.080 | 14.820 | 15.901 | 17.479 |
60 | 15.533 | 17.169 | 13.767 | 14.554 | 15.533 | 17.169 |
61 | 15.156 | 16.851 | 13.447 | 14.283 | 15.156 | 16.851 |
62 | 14.772 | 16.525 | 13.119 | 14.007 | 14.772 | 16.525 |
63 | 14.380 | 16.190 | 12.784 | 13.725 | 14.380 | 16.190 |
64 | 13.978 | 15.846 | 12.444 | 13.437 | 13.978 | 15.846 |
65 | 13.567 | 15.495 | 12.096 | 13.141 | 13.567 | 15.495 |
66 | 13.148 | 15.135 | 11.743 | 12.838 | 13.148 | 15.135 |
67 | 12.720 | 14.766 | 11.381 | 12.528 | 12.720 | 14.766 |
68 | 12.282 | 14.388 | 11.011 | 12.212 | 12.282 | 14.388 |
69 | 11.834 | 14.002 | 10.635 | 11.892 | 11.834 | 14.002 |
70 | 11.376 | 13.609 | 10.258 | 11.565 | 11.376 | 13.609 |
71 | 10.908 | 13.207 | 9.883 | 11.235 | 10.908 | 13.207 |
72 | 10.432 | 12.797 | 9.506 | 10.899 | 10.432 | 12.797 |
73 | 9.951 | 12.381 | 9.126 | 10.560 | 9.951 | 12.381 |
74 | 9.465 | 11.959 | 8.747 | 10.215 | 9.465 | 11.959 |
75 | 8.975 | 11.532 | 8.368 | 9.864 | 8.975 | 11.532 |
76 | 8.484 | 11.100 | 7.991 | 9.506 | 8.484 | 11.100 |
77 | 8.003 | 10.667 | 7.614 | 9.137 | 8.003 | 10.667 |
78 | 7.539 | 10.232 | 7.242 | 8.757 | 7.539 | 10.232 |
79 | 7.094 | 9.799 | 6.875 | 8.363 | 7.094 | 9.799 |
80 | 6.672 | 9.367 | 6.515 | 7.958 | 6.672 | 9.367 |
81 | 6.279 | 8.937 | 6.162 | 7.551 | 6.279 | 8.937 |
82 | 5.912 | 8.510 | 5.823 | 7.149 | 5.912 | 8.510 |
83 | 5.570 | 8.085 | 5.495 | 6.750 | 5.570 | 8.085 |
84 | 5.250 | 7.663 | 5.185 | 6.354 | 5.250 | 7.663 |
85 | 4.947 | 7.251 | 4.890 | 5.970 | 4.947 | 7.251 |
86 | 4.656 | 6.853 | 4.605 | 5.600 | 4.656 | 6.853 |
87 | 4.378 | 6.470 | 4.330 | 5.247 | 4.378 | 6.470 |
88 | 4.114 | 6.105 | 4.067 | 4.913 | 4.114 | 6.105 |
89 | 3.859 | 5.760 | 3.816 | 4.602 | 3.859 | 5.760 |
90 | 3.614 | 5.434 | 3.574 | 4.313 | 3.614 | 5.434 |
91 | 3.373 | 5.128 | 3.337 | 4.045 | 3.373 | 5.128 |
92 | 3.146 | 4.840 | 3.114 | 3.798 | 3.146 | 4.840 |
93 | 2.935 | 4.565 | 2.907 | 3.567 | 2.935 | 4.565 |
94 | 2.741 | 4.301 | 2.718 | 3.348 | 2.741 | 4.301 |
95 | 2.564 | 4.042 | 2.544 | 3.136 | 2.564 | 4.042 |
96 | 2.402 | 3.785 | 2.385 | 2.927 | 2.402 | 3.785 |
97 | 2.254 | 3.525 | 2.237 | 2.717 | 2.254 | 3.525 |
98 | 2.116 | 3.255 | 2.101 | 2.498 | 2.116 | 3.255 |
99 or over | 1.985 | 2.966 | 1.971 | 2.257 | 1.985 | 2.966 |
Table 9 Factors for interests if benefit has been deferred under Division 3B or 3D of Part 4 of NSW Superannuation Act
Age | Annuity factor (APFy) | Discount factor (DFy) |
55 | 4.550 | 0.826 |
56 | 3.709 | 0.858 |
57 | 2.834 | 0.892 |
58 | 1.925 | 0.926 |
59 | 0.981 | 0.962 |
60 | 0.000 | 1.000 |
Part 9 NSW State Authorities Non‑contributory Superannuation Scheme
1 Definitions
(1) In this Part:
eligible service, in relation to an employee, means the eligible service determined to have accrued in relation to the employee in accordance with clause 5 of the SANCS Regulation.
fraction of a year means the quotient of the number of days of the period of service in the year and 365.
SANCS Act means the State Authorities Non‑contributory Superannuation Act 1987 (NSW).
SANCS Regulation means the State Authorities Non‑contributory Superannuation Regulation 2005 (NSW).
SANCS scheme means the superannuation scheme established by the SANCS Act.
(2) A reference in this Part to the requirements of Division 2.2 of the Regulations being satisfied does not include a reference to the requirements of that Division being satisfied by making a payment of the kind mentioned in regulation 14H of the Regulations.
(3) An expression used in this Part and in the SANCS Act or in a provision of that Act has the same meaning in this Part as it has in the SANCS Act or the provision of that Act.
Note 1 The following expressions are defined in section 3 of the SANCS Act:
additional employer contributions account
Commonwealth co‑contribution account
employee
STC.
Note 2 Final average salary is defined in section 21 of the SANCS Act.
2 Methods for interests in SANCS scheme
For an interest that:
(a) is in the growth phase in the SANCS scheme; and
(b) is mentioned in an item in the following table;
the method mentioned in the item is approved for section 4 of this instrument.
Item | Interest | Method |
1 | An interest held by an employee | 
where: C is the number of years, and any fraction of a year, of eligible service accrued by the person at the relevant date. B is the number of years, and any fraction of a year, of eligible service accrued by the person in the period commencing on 1 July 1988 and ending at the end of the relevant date. |
| | FAS is the amount that would have been the person’s final average salary if the person had ceased to be an employee at the relevant date. |
| | Fy+m is the factor calculated in accordance with the formula: 
where: Fy is the valuation factor mentioned in Table 1 in this Part that applies, given the person’s gender and age in completed years at the relevant date. |
| | m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date. Fy+1 is the valuation factor mentioned in Table 1 in this Part that would apply to the person if the person’s age in completed years at the relevant date were 1 year more than it is. |
| | R is: (a) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the amount (the reduction factor) calculated in accordance with the formula: 
where: NMProp is the quotient of: (i) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and (ii) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in this item. |
| | ESProp is the quotient of: (i) the sum of: (A) the number of days, and any additional proportion of a day, of eligible service of the person before 1 July 1988; and (B) 85% of the number of days, and any additional proportion of a day, of eligible service of the person on and after 1 July 1988; at the time when the requirements of Division 2.2 of the Regulations were satisfied; and (ii) the sum of: (A) the number of days, and any additional proportion of a day, of eligible service of the person before 1 July 1988; and (B) 85% of the number of days, and any additional proportion of a day, of eligible service of the person on and after 1 July 1988; at the relevant date; or |
| | (b) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlements of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the product of the reduction factors, calculated in accordance with paragraph (a), in respect of each entitlement; or |
| | (c) in any other case — 1. |
| | CCB is the sum of: (a) the balance of the person’s Commonwealth co‑contribution account at the relevant date; and (b) the amount of adjustment (if any) that STC would make to that account under section 11 of the SANCS Act if the person had voluntarily ceased to be an employee at the relevant date. |
| | AEC is the sum of: (a) the balance of the additional employer contributions account of the person at the relevant date; and (b) the amount of adjustment (if any) that STC would make to that account under section 11 of the SANCS Act if the person had voluntarily ceased to be an employee at the relevant date. |
2 | An interest held by a person if: (a) the person has ceased to be an employee; and (b) all or part of the person’s benefit in respect of the interest is preserved under section 24 of the SANCS Act | 
where: A is the amount of the benefit in respect of the person that would have been payable to, or in respect of, the person if that benefit had been payable under section 23 of the SANCS Act at the relevant date. SC is the amount (if any) calculated by STC in accordance with subsection 26A (3) of the SANCS Act. |
Table 1 Valuation factors |
Age in completed years | Males | Females |
26 | 0.6424 | 0.6917 |
27 | 0.6435 | 0.6878 |
28 | 0.6446 | 0.6841 |
29 | 0.6459 | 0.6809 |
30 | 0.6473 | 0.6781 |
31 | 0.6490 | 0.6760 |
32 | 0.6509 | 0.6750 |
33 | 0.6534 | 0.6753 |
34 | 0.6565 | 0.6767 |
35 | 0.6603 | 0.6792 |
36 | 0.6647 | 0.6828 |
37 | 0.6698 | 0.6875 |
38 | 0.6757 | 0.6933 |
39 | 0.6823 | 0.7001 |
40 | 0.6897 | 0.7077 |
41 | 0.6978 | 0.7162 |
42 | 0.7066 | 0.7252 |
43 | 0.7161 | 0.7349 |
44 | 0.7262 | 0.7450 |
45 | 0.7370 | 0.7557 |
46 | 0.7484 | 0.7670 |
47 | 0.7604 | 0.7785 |
48 | 0.7731 | 0.7905 |
49 | 0.7863 | 0.8029 |
50 | 0.8000 | 0.8156 |
51 | 0.8140 | 0.8286 |
52 | 0.8286 | 0.8423 |
53 | 0.8438 | 0.8567 |
54 | 0.8596 | 0.8717 |
55 | 0.8760 | 0.8873 |
56 | 0.8891 | 0.8940 |
57 | 0.9036 | 0.9084 |
58 | 0.9180 | 0.9230 |
59 | 0.9279 | 0.9286 |
60 | 0.9370 | 0.9373 |
61 | 0.9357 | 0.9427 |
62 | 0.9437 | 0.9486 |
63 | 0.9565 | 0.9559 |
64 | 0.9697 | 0.9666 |
65 | 0.9777 | 0.9777 |
66 | 0.9784 | 0.9784 |
67 | 0.9797 | 0.9797 |
68 | 0.9825 | 0.9825 |
69 | 0.9883 | 0.9883 |
70 or more | 1.0000 | 1.0000 |
Part 10 New South Wales Parliamentary Contributory Superannuation Scheme
Division 10.1 Definitions
1 Definitions
(1) In this Part:
calculation year means the financial year for which a calculation is being made for paragraph (a) or (b) of step 1 or for step 3 of the method mentioned in clause 2.
de facto partner has the same meaning as in the Interpretation Act 1987 (NSW).
election year has the meaning given by subclauses (3) and (4).
Legislative Assembly means the Legislative Assembly of New South Wales.
Legislative Council means the Legislative Council of New South Wales.
minimum deferral period, for a person, is the lesser of:
(a) 3 years; and
(b) the period of time until the person turns 70.
PCS Act means the Parliamentary Contributory Superannuation Act 1971 (NSW).
PCS Scheme means the Parliamentary Contributory Superannuation Scheme established by the PCS Act.
relevant date has the same meaning as in the Family Law (Superannuation) Regulations 2001.
(2) A reference in this Part to the requirements of Division 2.2 of the Regulations being satisfied does not include a reference to the requirements of that Division being satisfied by making a payment of the kind mentioned in regulation 14H of the Regulations.
(3) In this Part, election year means:
(a) the financial year that, at the relevant date, includes or included the day on which the Legislative Assembly, under section 24 of the Constitution Act 1902 (NSW), is or was due to expire; and
(b) every 4th financial year following the financial year mentioned in paragraph (a).
(4) However, if, at the relevant date, the Legislative Assembly has or had expired or been dissolved and writs for a general election of Members of the Legislative Assembly issued, election year means:
(a) the financial year that includes or included the day named in the writs for taking the poll for that general election; and
(b) every 4th financial year following the financial year in which the March of the calendar year in which those writs were returned or, under section 68 of the Parliamentary Electorates and Elections Act 1912 (NSW), were due to be returned, occurs or occurred.
(5) Except for the word spouse in clause 7, an expression used in this Part and in the PCS Act or in a provision of that Act has the same meaning in this Part as it has in the PCS Act or the provision of that Act.
Note 1 The following expressions are defined in subsection 3 (1) of the PCS Act:
member
salary
spouse
trustees.
Note 2 Supplementary benefit is defined in subsection 22A (1) of the PCS Act.
Division 10.2 Interest held by member
Subdivision 10.2.1 Interest held by member — general
2 Method for interests held by member in the PCS Scheme
For section 4 of this Approval, the method mentioned in the following table is approved for an interest that is held by a member.
Method |
Step 1 Calculate the probability weighted employer funded accrued benefit (if any) that would be payable to, or in relation to, the person for each benefit that would be payable to the person for each of the reasons (r) mentioned in clause 8 in accordance with whichever of the following applies: (a) if the person is less than 70 years at the end of the financial year in which the relevant date occurs, calculate the benefit for each financial year (t) in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the end of the financial year when the person would turn 70; (b) if the person is 70 years or more at the end of the financial year in which the relevant date occurs, calculate the benefit for that financial year; in accordance with the formula: 
|
where: Bt,r has the meaning given by clause 6. st has the meaning given by clause 3. |
pt,r is the probability, worked out in accordance with clause 4, that the benefit would be payable to the person in the calculation year. aft,r has the meaning given by clause 5. dt is: (a) for the financial year in which the relevant date occurs — 1.032; and (b) in any other case — the discount factor mentioned in Table 1 of Division 10.4 that applies to the calculation year. |
Step 2 Calculate the sum (V0) of all of the probability weighted employer funded accrued benefits calculated in step 1. |
Step 3 Applying the assumptions mentioned in clause 9, repeat step 1 for each calculation year commencing on 1 July after the relevant date, modified so that: (a) the relevant date mentioned in paragraph (b) of the definition of st is: (i) the date corresponding to the relevant date in the financial year following the financial year in which the relevant date occurs; or (ii) if there is no such corresponding date because the relevant date is 29 February — 1 March; and (b) aft,r is: (i) if the benefit is payable under section 22 or subsection 23 (3) of the PCS Act to, or in relation to, a person who has been entitled to receive salary as a member for a period of less than 7 years — one seventh of the period (measured in years and fractions of a year) for which the person had been entitled to receive salary as at 1 July immediately after the relevant date; or |
(ii) in any other case — the factor calculated in accordance with the formula: 
where: LPS0 is the length of the period for which the person has been entitled to receive salary, expressed in years and any fraction of a year, as at 1 July in the financial year in which the relevant date occurs. t is: (a) if the person is less than 70 years on 30 June after the relevant date — the number of years in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the beginning of the calculation year; or (b) if the person is 70 years or more on 30 June after the relevant date — 0; and (c) dt is: (i) for the financial year immediately after the relevant date — 1.032; or |
(ii) in any other case — the discount factor that would apply to the calculation year if the reference to ‘1 July in the financial year in which the relevant date occurs’ in the heading of column 1 in Table 1 of Division 10.4 was a reference to ‘1 July after the relevant date’. |
Step 4 Calculate the sum (V1) of all of the probability weighted employer funded accrued benefits calculated in step 3. |
Step 5 Calculate the total benefit (TB) that is payable to the person in accordance with the formula: 
where: V0 is the amount calculated in step 2. m is the number of complete months in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the end of the relevant date. V1 is the amount calculated in step 4. |
Step 6 Calculate the gross value of the interest in accordance with the formula: 
where: TB is the total benefit that is payable to the person, calculated in accordance with step 5. R is the reduction factor under clause 7. |
3 Meaning of st
For step 1 of the method mentioned in clause 2:
st is:
(a) for the financial year in which the relevant date occurs — 1; or
(b) for each year in the period commencing on 1 July after the relevant date and ending at the end of 30 June immediately before the calculation year — the probability that the person will be a member in the calculation year, calculated in accordance with the method mentioned in the following table.
Method |
Step 1 Calculate, for each year in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the end of 30 June immediately before the calculation year (the calculation period), the sum of: (a) the factor that applies to the person for the definition of pt,r in relation to a benefit payable under section 19 or 19B of the PCS Act; and |
(b) the factor mentioned in Table 2 of Division 10.4 that applies given the person’s gender and the person’s age in completed years in the year for which the calculation is being made; and |
(c) the factor mentioned in Table 3 of Division 10.4 that applies given the person’s gender and the person’s age in completed years in the year for which the calculation is being made. |
Step 2 For each year in the calculation period, calculate the probability that the person will remain a member at the end of the year (survival factor), being 1 less the sum of the factors mentioned in step 1 that apply to the person for the year. |
Step 3 Multiply the survival factor calculated in step 2 for the first year in the calculation period by the survival factor for each remaining year in that period. |
Step 4 st is the result of the calculation worked out in step 3. |
4 Probability (pt,r)
(1) For step 1 of the methods mentioned in clauses 2 and 3, pt,r is:
(a) for a benefit payable under section 19 or 19B or subsection 22A (2) of the PCS Act:
(i) if the year for which the calculation is being made is not an election year — the factor mentioned in subclause (2) that applies to the person; and
(ii) if the year for which the calculation is being made is an election year and, at the relevant date, the person is in receipt of salary as a member of the Legislative Assembly — the factor mentioned in subclause (3) that applies to the person; and
(iii) if the year for which the calculation is being made is an election year and, at the relevant date, the person is in receipt of salary as a member of the Legislative Council — the factor mentioned in subclause (4) that applies to the person; and
(b) for a benefit payable under section 22 of the PCS Act — the factor mentioned in Table 2 of Division 10.4 that applies given the person’s gender and the person’s age in completed years on 1 July in the year for which the calculation is being made; and
(c) for a benefit payable under subsection 22A (4) or section 23 of the PCS Act — the factor mentioned in Table 3 of Division 10.4 that applies given the person’s gender and the person’s age in completed years on 1 July in the year for which the calculation is being made.
(2) For subparagraph (1) (a) (i), pt,r is:
(a) for a person who, on the calculation date, will not have turned 55 — 0.02; and
(b) for a person who, on the calculation date, will have turned 55 but will not have turned 70 — 0.03; and
(c) for a person who, on the calculation date, will have turned 70 — 1.
(3) For subparagraph (1) (a) (ii), pt,r is:
(a) for a person who, on the calculation date, will not have turned 55:
(i) if the person will have been entitled to receive salary for less than 20 years if he or she were to continue as a member of the Legislative Assembly until the calculation date — 0.25; and
(ii) if the person will have been entitled to have received salary for at least 20 years but less than 24 years if he or she were to continue as a member of the Legislative Assembly until the calculation date — 0.82; and
(b) for a person who, on the calculation date, will have turned 55 but will not have turned 70:
(i) if the person will have been entitled to receive salary for less than 20 years if he or she were to continue as a member of the Legislative Assembly until the calculation date — 0.26; and
(ii) if the person will have been entitled to have received salary for at least 20 years but less than 24 years if he or she were to continue as a member of the Legislative Assembly until the calculation date — 0.83; and
(c) for a person who, on the calculation date, will have turned 70 or will have been entitled to have received salary for at least 24 years if he or she were to continue as a member of the Legislative Assembly until the calculation date — 1.
(4) For subparagraph (1) (a) (iii), pt,r is:
(a) for a person who, on the calculation date, will not have turned 55:
(i) if the person will have been entitled to receive salary for less than 7 years if he or she were to continue as a member of the Legislative Council until the calculation date — 0.02; and
(ii) if the person will have been entitled to have received salary for at least 7 years but less than 20 years if he or she were to continue as a member of the Legislative Council until the calculation date — 0.22; and
(iii) if the person will have been entitled to have received salary for at least 20 years but less than 24 years if he or she were to continue as a member of the Legislative Council until the calculation date — 0.82; and
(b) for a person who, on the calculation date, will have turned 55 but will not have turned 70:
(i) if the person will have been entitled to receive salary for less than 7 years if he or she were to continue as a member of the Legislative Council until the calculation date — 0.03; and
(ii) if the person will have been entitled to have received salary for at least 7 years but less than 20 years if he or she were to continue as a member of the Legislative Council until the calculation date — 0.23; and
(iii) if the person will have been entitled to have received salary for at least 20 years but less than 24 years if he or she were to continue as a member of the Legislative Council until the calculation date — 0.83; and
(c) for a person who, on the calculation date, will have turned 70 or will have been entitled to have received salary for at least 24 years if he or she were to continue as a member of the Legislative Council until the calculation date — 1.
(5) In this clause:
calculation date means 1 July in the year for which the calculation is being made.
5 Meaning of aft,r
(1) For step 1 of the method mentioned in clause 2:
aft,r is:
(a) if the benefit is payable to, or in relation to, a person under section 22 or subsection 23 (3) of the PCS Act who has been entitled to receive salary for less than 7 years — one seventh of the period (measured in years and fractions of a year) for which the person had been entitled to receive salary at the relevant date; or
(b) in any other case — the factor calculated in accordance with the formula:
where:
LPS0 is the period for which the person has been entitled to receive salary expressed in years and any fraction of a year, as at 1 July in the financial year in which the relevant date occurs.
t is:
(a) if the person is less than 70 years on 30 June after the relevant date — the number of years in the period commencing on 1 July in the financial year in which the relevant date occurs and ending at the beginning of the calculation year; or
(b) if the person is 70 years or more on 30 June after the relevant date — 0.
(2) In this clause:
anniversary date, of a person, means the anniversary of the later of:
(a) the date on which the person was first elected to the New South Wales Parliament; or
(b) the date on which the person was again elected to the New South Wales Parliament following defeat, or failure to stand, at an election after the election at which he or she was first elected.
fraction of a year means the quotient of:
(a) the number of days that are not included in the number of complete years for which the person had been entitled to receive salary; and
(b) any of the following that apply:
(i) if the length of the period for which the person had been entitled to receive salary at the relevant date is less than 1 complete year and the date ‘29 February’ occurs in the 12 months commencing on the date on which the person first became entitled to receive salary — 366;
(ii) if the length of the period for which the person had been entitled to receive salary at the relevant date is more than 1 complete year and the date ‘29 February’ occurs in the 12 months commencing on the person’s most recent anniversary date in the financial year preceding the relevant date — 366;
(iii) in any other case — 365.
(3) If a person’s anniversary date is ‘29 February’, the person’s most recent anniversary date is taken to be ‘1 March’ in a year that is not a leap year.
6 Valuation of benefit (Bt,r)
(1) For step 1 of the method mentioned in clause 2 and subject to subclause (2):
Bt,r is the value of the benefit (including any lump sum payments or pension payments) in the calculation year that:
(a) would be payable to the person for any of the reasons mentioned in clause 8; and
(b) takes into account the assumption that the person’s salary will increase by 4% each year commencing on 1 July in the financial year in which the relevant date occurs; and
(c) disregards the amount of adjustment (if any) that the trustees would determine under section 26D of the PCS Act for the superannuation contributions surcharge.
(2) For subclause (1), the value of the benefit is taken to be:
(a) if the benefit is payable as an immediate lump sum only — the amount of the lump sum; or
(b) if the benefit is payable as a pension that is immediately payable in the calculation year — the value of the benefit calculated in accordance with the formula mentioned in subclause (3); or
(c) if the benefit is deferred under section 19B of the PCS Act after the member resigned — the value of the benefit calculated in accordance with the formula mentioned in subclause (4).
(3) For paragraph 2 (b), the value of the benefit is to be calculated in accordance with the formula:
where:
P is the nominal annual rate of pension that would be payable to, or in relation to, the person on the date when the person is first entitled to be paid a pension.
PFy+t+m is the factor calculated in accordance with the formula:
where:
PFy+t is the immediate valuation factor mentioned in Table 4 or 5 of Division 10.4 that applies, given:
(a) the person’s age in completed years (y+t) on 31 December in the calculation year; and
(b) the person’s gender; and
(c) the type of pension; and
(d) for a pension payable under section 19 of the PCS Act — whether the person was a member immediately before 1 February 1990.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years on 31 December in the calculation year.
PFy+t+1 is the immediate valuation factor mentioned in Table 4 or 5 of Division 10.4 that would apply to the person if the person’s age in completed years on 31 December in the calculation year were 1 year more than it is.
RPP is:
(a) for a pension payable to, or in relation to, a person under section 19 or 22 of the PCS Act — 0.75 if:
(i) the person would have been entitled, on the assumption that he or she were to continue as a member, to receive salary; and
(ii) on 31 December in the year for which the calculation is being made, 75% of the person’s accrued pension multiple divided by BSR would be greater than 0.45; or
(b) for a pension payable under section 19 or 22 of the PCS Act to, or in relation to, a person to whom paragraph (a) does not apply — the factor calculated using the formula:
where:
BSR has the meaning given by subclause (5).
M is the number of complete months in the period commencing on the day when the person was first entitled to receive salary as a member and ending at the end of 31 December in the year for which the calculation is being made; or
(c) for a pension payable under section 23 of the PCS Act — 0.
RPFy+t+m is the factor calculated in accordance with the formula:
where:
RPFy+t is the immediate reversion valuation factor mentioned in Table 4 or 5 of Division 10.4 that applies, given:
(a) the person’s age in completed years (y+t) on 31 December in the year for which the calculation is being made; and
(b) the person’s gender; and
(c) the type of pension that is payable; and
(d) for a pension payable under section 19 of the PCS Act — whether the person was a member immediately before 1 February 1990.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years on 31 December in the year for which the calculation is being made.
RPFy+t+1 is the immediate reversion valuation factor mentioned in Table 4 or 5 of Division 10.4 that would apply if the person’s age in completed years on 31 December in the year for which the calculation is being made, were 1 year more than it is.
(4) For paragraph 2 (c), the value of the benefit is to be calculated in accordance with the formula:
where:
DP is the nominal annual rate of pension that would have been payable to the person if he or she had, at the date of ceasing to be a member, turned 55.
DPF is:
(a) if the person is male — 16.620; or
(b) if the person is female — 18.285.
DFy+t+m is the factor calculated in accordance with the formula:
where:
DFy+t is the deferred pension valuation factor mentioned in Table 6 of Division 10.4 that applies given the person’s gender and the person’s age in completed years (y+t) on 31 December in the year for which the calculation is being made.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years on 31 December in the year for which the calculation is being made.
DFy+t+1 is the deferred pension valuation factor mentioned in Table 6 of Division 10.4 that would apply to the person if the person’s age in completed years on 31 December in the year for which the calculation is being made were 1 year more than it is.
RPP has the meaning given by subclause (3).
RPFy+t+m has the meaning given by subclause (3).
(5) For the definition of RPP in subclause (3):
accrued pension multiple, of a person, means the lesser of:
(a) 0.8; and
(b) the sum of 0.488 and 0.002 for each complete month exceeding 84 complete months for which the person would have been entitled, if he or she were to continue as a member, to receive salary.
BSR is the quotient of:
(a) the total amount of basic salary to which the person was entitled under paragraph 6 (1) (a) of the Parliamentary Remuneration Act 1989 (NSW) (together with the total of any amounts in the nature of salary to which he or she was entitled as a member before the commencement of that Act) up to and including the 30 June immediately before the relevant date; and
(b) the total amount of basic salary and additional salary to which the person was entitled under paragraphs 6 (1) (a) and (b) of the Parliamentary Remuneration Act 1989 (NSW) (together with the total of any amounts in the nature of salary to which the person was entitled as a member, a Minister or the holder of an office mentioned in Schedule 1 to the Parliamentary Remuneration Tribunal Act 1975 (NSW) as the Act existed before 1 July 1990, before the commencement of the Parliamentary Remuneration Act 1989 (NSW)) up to and including the 30 June immediately before the relevant date.
7 Reduction factor
(1) For step 6 of the method mentioned in clause 2, the reduction factor is:
(a) if the requirements of Division 2.2 of the Regulations have been satisfied for the entitlement of only 1 spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the factor calculated in accordance with the formula mentioned in subclause (2); or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied for the entitlements of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the factors calculated in accordance with the formula mentioned in subclause (2) for each entitlement; or
(c) in any other case — 1.
(2) For paragraphs (1) (a) and (b), each factor is calculated in accordance with the formula:
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method mentioned in clause 2.
CDs is the total number of days for which the person had been entitled to receive salary at the date when the requirements of Division 2.2 of the Regulations were satisfied.
CD is the total number of days for which the person had been entitled to receive salary at the relevant date.
Subdivision 10.2.2 Reasons and assumptions about interest described in Subdivision 10.2.1
8 Reasons for payment of benefit
(1) Each of the events mentioned in subclauses (2) to (7) is a reason for the purposes of:
(a) step 1 of the method mentioned in clause 2; and
(b) paragraph (a) of the definition of Bt,r in subclause 6 (1).
(2) The person ceased to be a member, other than on the ground of incapacity, and was entitled to a pension under section 19 of the PCS Act.
(3) The person, who first became a member after 6 December 1999, ceased to be a member and was entitled to a pension that would be deferred under section 19B of the PCS Act.
(4) The person ceased to be a member and was entitled to a pension under section 22 of the PCS Act.
(5) The person died leaving a spouse or a de facto partner and section 23 of the PCS Act applies to the spouse or de facto partner.
(6) The person died without leaving a spouse or de facto partner, or a child to whom a pension would be payable under the PCS Act, and the personal representative of the person is entitled to an amount under subsection 22A (4) of the PCS Act in relation to the person.
(7) The person ceased to be a member before being entitled to receive salary for an aggregate period of 7 years and subsection 22A (2) of the PCS Act applies to the person.
9 Assumptions to be applied for steps 1 and 3 of the method in clause 2
(1) For step 1 of the method mentioned in clause 2, it is assumed that, if a benefit is payable to, or in relation to, the person under subsection 22A (2) of the PCS Act, the person is entitled to payment of the supplementary benefit under paragraph 22A (2) (a) of that Act.
(2) For step 3 of the method mentioned in clause 2, the following assumptions apply:
(a) the person remains a member;
(b) the person’s salary will increase by 4% each year commencing on 1 July in the financial year in which the relevant date occurs;
(c) if the relevant date is 29 February in a leap year, the corresponding date in a year that is not a leap year is 1 March.
Division 10.3 Other interests
Subdivision 10.3.1 Interest for a person who was a member immediately before, or whose pension commenced to be paid before, 1 February 1990
10 Method — interest for person not entitled to make an election under subsection 20 (2) of PCS Act
For section 4 of this Approval, the method mentioned in the following table is approved for an interest that is held by a person who is being paid a pension under the PCS Act if:
(a) the person is not entitled to make an election under subsection 20 (2) of the PCS Act on the relevant date; and
(b) either:
(i) the person was a member immediately before 1 February 1990; or
(ii) the person’s pension commenced to be paid before 1 February 1990.
Method |
where: P is the annual pension amount payable to the person at the relevant date. |
Py+m is the factor calculated in accordance with the formula: 
where: Py is the pension valuation factor mentioned in Table 7 of Division 10.4 that applies given the person’s gender and the person’s age in completed years at the relevant date. |
m is the number of completed months of the person’s age that are not included in the person’s age in completed years at the relevant date. Py+1 is the pension valuation factor mentioned in Table 7 of Division 10.4 that would apply to the person if the person’s age in completed years at the relevant date were 1 year more than it is. CP is: (a) for a person who has elected under section 20 of the PCS Act to convert pension entitlements to a lump sum payment — the difference between the annual pension amount that would have been payable to the member at the relevant date if he or she had not made that election and the annual pension amount payable to the member at the relevant date; or |
(b) for a person who has not elected under section 20 of the PCS Act to convert pension entitlements to a lump sum payment — 0. UPy+m is the factor calculated in accordance with the formula: 
where: UPy is the unindexed pension valuation factor mentioned in Table 8 of Division 10.4 that applies given the person’s gender and the person’s age in completed years at the relevant date. m is the number of completed months of the person’s age that are not included in the person’s age in completed years at the relevant date. UPy+1 is the unindexed pension valuation factor mentioned in Table 8 of Division 10.4 that would apply to the person if the person’s age in completed years at the relevant date were 1 year more than it is. |
R is the annual pension amount that would be payable to any surviving spouse or de facto partner of the person if the person died on the relevant date. |
Ry+m is the factor calculated in accordance with the formula: 
where: Ry is the reversion valuation factor mentioned in Table 7 of Division 10.4 that applies given the person’s gender and the person’s age in completed years at the relevant date. m is the number of completed months of the person’s age that are not included in the person’s age in completed years at the relevant date. Ry+1 is the reversion valuation factor mentioned in Table 7 of Division 10.4 that would apply to the person if the person’s age in completed years at the relevant date were 1 year more than it is. |
11 Method — interest for person entitled to make an election under subsection 20 (2) of the PCS Act
For section 4 of this Approval, the method mentioned in the following table is approved for an interest that is held by a person who is being paid a pension under the PCS Act if:
(a) the person is entitled to make an election under subsection 20 (2) of the PCS Act on the relevant date; and
(b) either:
(i) the person was a member immediately before 1 February 1990; or
(ii) the person’s pension commenced to be paid before 1 February 1990.
Method |
where: PVls is the value of a member’s entitlement assuming that all but the minimum amount required to qualify for some pension payment is converted to a lump sum, calculated in accordance with the formula: 
where: P has the meaning given by clause 10. Py+m has the meaning given by clause 10. UPy+m has the meaning given by clause 10. R has the meaning given by clause 10. Ry+m has the meaning given by clause 10. PVp is the value of the person’s pension entitlements calculated in accordance with the formula: 
where: P has the meaning given by clause 10. Py+m has the meaning given by clause 10. R has the meaning given by clause 10. Ry+m has the meaning given by clause 10. |
Subdivision 10.3.2 Interest relating to a suspension under subsection 25 (2) of the PCS Act
12 Method — interest for a person who became a member on or after 1 February 1990
For section 4 of this Approval, the method mentioned in the following table is approved for an interest that is held by a person:
(a) who was not a member immediately before 1 February 1990; and
(b) who did not receive a pension under the PCS Act that commenced to be paid before 1 February 1990; and
(c) whose right to receive a pension is currently suspended under subsection 25 (2) of the PCS Act.
Method |
where: P is the annual pension amount that would be payable to the person at the relevant date, if the period of suspension were to conclude at that date. Py+m is the factor calculated in accordance with the formula:
where: Py is the pension valuation factor mentioned in Table 7 of Division 10.4 that applies given the person’s gender and the person’s age in completed years at the end of the minimum deferral period. m is the number of completed months of the person’s age that are not included in the person’s age in completed years at the end of the minimum deferral period. Py+1 is the pension valuation factor mentioned in Table 7 of Division 10.4 that would apply to the person if the person’s age in completed years at the end of the minimum deferral period were 1 year more than it is. |
Dy+m is the factor calculated in accordance with the formula: 
where: Dy is the discount valuation factor mentioned in Table 9 of Division 10.4 that applies for the minimum deferral period in complete years at the relevant date. m is the number of complete months of the minimum deferral period 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 Table 9 of Division 10.4 that would apply if the minimum deferral period in complete years at the relevant date were 1 more year than it is. |
R is the annual pension amount that would be payable to any surviving spouse or de facto partner of the person if the person died on the relevant date. Ry+m is the factor calculated in accordance with the formula: 
where: Ry is the reversion valuation factor mentioned in Table 7 of Division 10.4 that applies given the person’s gender and the person’s age in completed years at the relevant date. |
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date. Ry+1 is the reversion valuation factor mentioned in Table 7 of Division 10.4 that would apply to the person if the person’s age in completed years at the relevant date were 1 more year than it is. |
13 Method — interest for a person who was a member immediately before 1 February 1990 and is not entitled to make an election under subsection 20 (2) of PCS Act
For section 4 of this Approval, the method mentioned in the following table is approved for an interest that is held by a person:
(a) who is not entitled to make an election under subsection 20 (2) of the PCS Act on the relevant date; and
(b) who:
(i) was a member immediately before 1 February 1990; or
(ii) received a pension under the PCS Act that commenced to be paid before 1 February 1990; and
(c) whose right to receive a pension is currently suspended under subsection 25 (2) of the PCS Act.
Method |
where: P has the meaning given by clause 12. Py+m has the meaning given by clause 12. CP is the amount (if any) by which the annual pension amount payable to the person at the relevant date, if the period of suspension were to conclude at that date, would be reduced under subsection 21B (2) of the PCS Act because of an election by the person under section 20 of that Act to convert pension entitlements to a lump sum entitlement. UPy+m is the factor calculated in accordance with the formula:
where: UPy is the unindexed pension valuation factor mentioned in Table 8 of Division 10.4 that applies given the person’s gender and the person’s age in completed years at the relevant date. m is the number of completed months of the person’s age that are not included in the person’s age in completed years at the relevant date. UPy+1 is the unindexed pension valuation factor mentioned in Table 8 of Division 10.4 that would apply to the person if the person’s age in completed years at the relevant date were 1 year more than it is. Dy+m has the meaning given by clause 12. R has the meaning given by clause 12. Ry+m has the meaning given by clause 12. |
14 Method — interest for a person who was a member immediately before 1 February 1990 and is entitled to make an election under subsection 20 (2) of PCS Act
For section 4 of this Approval, the method mentioned in the following table is approved for an interest that is held by a person:
(a) who is entitled to make an election under subsection 20 (2) of the PCS Act on the relevant date; and
(b) who:
(i) was a member immediately before 1 February 1990; or
(ii) received a pension under the PCS Act that commenced to be paid before 1 February 1990; and
(c) whose right to receive a pension is currently suspended under subsection 25 (2) of the PCS Act.
Method |
where: PVls is the value of a member’s entitlement assuming that all but the minimum amount required to qualify for some pension payment is converted to a lump sum at the end of the minimum deferral period, calculated in accordance with the formula: 
where: P has the meaning given by clause 12. Py+m has the meaning given by clause 12. UPy+m has the meaning given by clause 13. Dy+m has the meaning given by clause 12. R has the meaning given by clause 12. Ry+m has the meaning given by clause 12. PVp is the value of the person’s pension entitlements calculated in accordance with the formula: 
where: P has the meaning given by clause 12. Py+m has the meaning given by clause 12. Dy+m has the meaning given by clause 12. R has the meaning given by clause 12. Ry+m has the meaning given by clause 12. |
Division 10.4 Factors and probabilities
Table 1 Discount factors
Note Step 3 of the method mentioned in clause 2 modifies the discount factor that applies to a calculation year by replacing the reference to ‘1 July in the financial year in which the relevant date occurs’ in the heading of column 1 of the following table with a reference to ‘1 July after the relevant date’.
Number of years in the period commencing 1 July in the financial year in which the relevant date occurs and ending on 1 July in the year for which the calculation is being made | Discount factor (dt) |
1 | 1.099 |
2 | 1.171 |
3 | 1.247 |
4 | 1.328 |
5 | 1.414 |
6 | 1.506 |
7 | 1.604 |
8 | 1.708 |
9 | 1.819 |
10 | 1.937 |
11 | 2.063 |
12 | 2.197 |
13 | 2.340 |
14 | 2.492 |
15 | 2.654 |
16 | 2.827 |
17 | 3.010 |
18 | 3.206 |
19 | 3.414 |
20 | 3.636 |
21 | 3.873 |
22 | 4.124 |
23 | 4.393 |
24 | 4.678 |
25 | 4.982 |
26 | 5.306 |
27 | 5.651 |
28 | 6.018 |
29 | 6.409 |
30 | 6.826 |
31 | 7.270 |
32 | 7.742 |
33 | 8.245 |
34 | 8.781 |
35 | 9.352 |
36 | 9.960 |
37 | 10.607 |
38 | 11.297 |
39 | 12.031 |
40 | 12.813 |
Table 2 Probability that a benefit will be payable under section 22 of the PCS Act
Age of person | Factor |
Male | Female |
20 | 0.00020 | 0.00010 |
21 | 0.00020 | 0.00010 |
22 | 0.00020 | 0.00010 |
23 | 0.00020 | 0.00010 |
24 | 0.00020 | 0.00010 |
25 | 0.00020 | 0.00020 |
26 | 0.00020 | 0.00020 |
27 | 0.00020 | 0.00020 |
28 | 0.00020 | 0.00030 |
29 | 0.00020 | 0.00030 |
30 | 0.00030 | 0.00040 |
31 | 0.00030 | 0.00040 |
32 | 0.00030 | 0.00050 |
33 | 0.00030 | 0.00050 |
34 | 0.00040 | 0.00060 |
35 | 0.00040 | 0.00060 |
36 | 0.00050 | 0.00070 |
37 | 0.00050 | 0.00080 |
38 | 0.00060 | 0.00090 |
39 | 0.00060 | 0.00090 |
40 | 0.00070 | 0.00100 |
41 | 0.00080 | 0.00110 |
42 | 0.00090 | 0.00130 |
43 | 0.00100 | 0.00140 |
44 | 0.00110 | 0.00150 |
45 | 0.00120 | 0.00160 |
46 | 0.00140 | 0.00180 |
47 | 0.00160 | 0.00190 |
48 | 0.00180 | 0.00200 |
49 | 0.00200 | 0.00220 |
50 | 0.00230 | 0.00240 |
51 | 0.00260 | 0.00260 |
52 | 0.00290 | 0.00280 |
53 | 0.00330 | 0.00310 |
54 | 0.00370 | 0.00330 |
55 | 0.00410 | 0.00370 |
56 | 0.00460 | 0.00400 |
57 | 0.00520 | 0.00430 |
58 | 0.00580 | 0.00470 |
59 | 0.00630 | 0.00500 |
60 | 0.00690 | 0.00540 |
61 | 0.00750 | 0.00580 |
62 | 0.00810 | 0.00610 |
63 | 0.00860 | 0.00650 |
64 | 0.00920 | 0.00690 |
65 | 0.00980 | 0.00730 |
66 | 0.01040 | 0.00760 |
67 | 0.01090 | 0.00800 |
68 | 0.01150 | 0.00840 |
69 | 0.01210 | 0.00880 |
70 | 0.00000 | 0.00000 |
Table 3 Probability that a benefit will be payable under subsection 22A (4) or section 23 of the PCS Act
Age of person | Factor |
Male | Female |
20 | 0.00060 | 0.00021 |
21 | 0.00061 | 0.00020 |
22 | 0.00061 | 0.00019 |
23 | 0.00062 | 0.00018 |
24 | 0.00062 | 0.00018 |
25 | 0.00063 | 0.00019 |
26 | 0.00063 | 0.00020 |
27 | 0.00064 | 0.00020 |
28 | 0.00064 | 0.00022 |
29 | 0.00065 | 0.00023 |
30 | 0.00066 | 0.00025 |
31 | 0.00067 | 0.00026 |
32 | 0.00068 | 0.00028 |
33 | 0.00069 | 0.00029 |
34 | 0.00071 | 0.00031 |
35 | 0.00073 | 0.00033 |
36 | 0.00075 | 0.00035 |
37 | 0.00077 | 0.00037 |
38 | 0.00080 | 0.00039 |
39 | 0.00084 | 0.00042 |
40 | 0.00087 | 0.00045 |
41 | 0.00091 | 0.00048 |
42 | 0.00096 | 0.00052 |
43 | 0.00101 | 0.00057 |
44 | 0.00108 | 0.00062 |
45 | 0.00116 | 0.00068 |
46 | 0.00125 | 0.00075 |
47 | 0.00135 | 0.00083 |
48 | 0.00147 | 0.00091 |
49 | 0.00162 | 0.00101 |
50 | 0.00178 | 0.00112 |
51 | 0.00197 | 0.00123 |
52 | 0.00218 | 0.00136 |
53 | 0.00242 | 0.00150 |
54 | 0.00269 | 0.00165 |
55 | 0.00299 | 0.00182 |
56 | 0.00332 | 0.00200 |
57 | 0.00370 | 0.00220 |
58 | 0.00412 | 0.00241 |
59 | 0.00459 | 0.00264 |
60 | 0.00512 | 0.00289 |
61 | 0.00572 | 0.00316 |
62 | 0.00638 | 0.00347 |
63 | 0.00711 | 0.00382 |
64 | 0.00792 | 0.00421 |
65 | 0.00882 | 0.00465 |
66 | 0.00980 | 0.00514 |
67 | 0.01087 | 0.00569 |
68 | 0.01204 | 0.00631 |
69 | 0.01330 | 0.00700 |
70 | 0.00000 | 0.00000 |
Table 4 Immediate pension and reversion valuation factors — males
Age | Retirement pension under section 19 of the PCS Act | Invalid pension under section 22 of the PCS Act | Spouse pension under section 23 of the PCS Act |
Member immediately before 1 February 1990 | Post 1 February 1990 member | Reversion valuation factor | Pension | Reversion valuation factor |
20 | 28.483 | 20.542 | 2.474 | 29.932 | 2.918 | 27.722 |
21 | 28.263 | 20.424 | 2.509 | 29.676 | 2.961 | 27.553 |
22 | 28.038 | 20.304 | 2.545 | 29.414 | 3.006 | 27.382 |
23 | 27.808 | 20.181 | 2.582 | 29.146 | 3.051 | 27.209 |
24 | 27.573 | 20.055 | 2.620 | 28.872 | 3.098 | 27.031 |
25 | 27.334 | 19.926 | 2.658 | 28.590 | 3.146 | 26.848 |
26 | 27.089 | 19.794 | 2.698 | 28.302 | 3.195 | 26.659 |
27 | 26.839 | 19.659 | 2.738 | 28.007 | 3.245 | 26.467 |
28 | 26.584 | 19.520 | 2.780 | 27.705 | 3.297 | 26.269 |
29 | 26.324 | 19.378 | 2.822 | 27.396 | 3.350 | 26.067 |
30 | 26.058 | 19.233 | 2.866 | 27.079 | 3.404 | 25.860 |
31 | 25.787 | 19.084 | 2.910 | 26.755 | 3.459 | 25.649 |
32 | 25.510 | 18.932 | 2.956 | 26.423 | 3.515 | 25.432 |
33 | 25.229 | 18.776 | 3.003 | 26.084 | 3.572 | 25.211 |
34 | 24.941 | 18.617 | 3.050 | 25.738 | 3.631 | 24.986 |
35 | 24.649 | 18.454 | 3.098 | 25.383 | 3.690 | 24.755 |
36 | 24.350 | 18.287 | 3.148 | 25.021 | 3.750 | 24.520 |
37 | 24.047 | 18.116 | 3.197 | 24.651 | 3.811 | 24.279 |
38 | 23.738 | 17.942 | 3.248 | 24.273 | 3.873 | 24.034 |
39 | 23.424 | 17.764 | 3.299 | 23.887 | 3.935 | 23.782 |
40 | 23.104 | 17.582 | 3.351 | 23.493 | 3.998 | 23.525 |
41 | 22.779 | 17.396 | 3.403 | 23.091 | 4.062 | 23.262 |
42 | 22.449 | 17.206 | 3.456 | 22.681 | 4.126 | 22.994 |
43 | 22.115 | 17.012 | 3.509 | 22.264 | 4.189 | 22.721 |
44 | 21.775 | 16.815 | 3.562 | 21.838 | 4.253 | 22.441 |
45 | 21.430 | 16.613 | 3.615 | 21.406 | 4.316 | 22.155 |
46 | 21.081 | 16.408 | 3.667 | 20.967 | 4.378 | 21.865 |
47 | 20.727 | 16.199 | 3.719 | 20.521 | 4.439 | 21.568 |
48 | 20.370 | 15.986 | 3.770 | 20.069 | 4.498 | 21.266 |
49 | 20.009 | 15.771 | 3.819 | 19.611 | 4.555 | 20.958 |
50 | 19.644 | 15.551 | 3.866 | 19.147 | 4.609 | 20.645 |
51 | 19.278 | 15.329 | 3.911 | 18.679 | 4.659 | 20.100 |
52 | 18.908 | 15.104 | 3.954 | 18.207 | 4.706 | 19.558 |
53 | 18.536 | 14.876 | 3.995 | 17.731 | 4.749 | 19.017 |
54 | 18.163 | 14.646 | 4.033 | 17.251 | 4.787 | 18.479 |
55 | 17.789 | 14.414 | 4.067 | 16.769 | 4.820 | 17.942 |
56 | 17.413 | 14.179 | 4.099 | 16.284 | 4.846 | 17.409 |
57 | 17.038 | 13.943 | 4.133 | 15.797 | 4.869 | 17.083 |
58 | 16.661 | 13.704 | 4.163 | 15.310 | 4.889 | 16.552 |
59 | 16.287 | 13.465 | 4.188 | 14.823 | 4.906 | 16.220 |
60 | 15.913 | 13.225 | 4.208 | 14.337 | 4.919 | 15.692 |
61 | 15.540 | 12.984 | 4.221 | 13.853 | 4.929 | 15.355 |
62 | 15.171 | 12.743 | 4.228 | 13.372 | 4.934 | 14.831 |
63 | 14.804 | 12.502 | 4.227 | 12.893 | 4.930 | 14.489 |
64 | 14.441 | 12.262 | 4.217 | 12.419 | 4.918 | 14.143 |
65 | 14.082 | 12.023 | 4.200 | 11.950 | 4.896 | 13.794 |
66 | 13.728 | 11.785 | 4.172 | 11.486 | 4.864 | 13.275 |
67 | 13.379 | 11.549 | 4.135 | 11.028 | 4.822 | 12.923 |
68 | 13.035 | 11.314 | 4.086 | 10.576 | 4.769 | 12.567 |
69 | 12.697 | 11.082 | 4.030 | 10.130 | 4.709 | 12.056 |
70 | 12.365 | 10.852 | 3.965 | 9.690 | 4.638 | 11.700 |
71 | 12.039 | 10.625 | 3.892 | 9.255 | 4.562 | 11.198 |
72 | 11.719 | 10.400 | 3.811 | 8.826 | 4.475 | 10.566 |
73 | 11.405 | 10.177 | 3.723 | 8.402 | 4.382 | 9.950 |
74 | 11.098 | 9.956 | 3.627 | 7.987 | 4.276 | 9.352 |
75 | 10.796 | 9.738 | 3.523 | 7.581 | 4.161 | 8.772 |
76 | 10.503 | 9.523 | 3.411 | 7.188 | 4.039 | 8.211 |
77 | 10.218 | 9.313 | 3.294 | 6.809 | 3.906 | 7.668 |
78 | 9.943 | 9.109 | 3.172 | 6.445 | 3.764 | 7.256 |
79 | 9.680 | 8.911 | 3.039 | 6.098 | 3.612 | 6.856 |
80 | 9.429 | 8.721 | 2.895 | 5.768 | 3.450 | 6.366 |
81 | 9.190 | 8.538 | 2.744 | 5.457 | 3.276 | 5.997 |
82 | 8.964 | 8.365 | 2.581 | 5.163 | 3.090 | 5.549 |
83 | 8.752 | 8.200 | 2.411 | 4.889 | 2.902 | 5.124 |
84 | 8.552 | 8.044 | 2.234 | 4.634 | 2.712 | 4.808 |
85 | 8.367 | 7.898 | 2.041 | 4.400 | 2.520 | 4.424 |
86 | 8.195 | 7.761 | 1.837 | 4.186 | 2.326 | 4.061 |
87 | 8.037 | 7.635 | 2.064 | 3.996 | 2.130 | 3.720 |
88 | 7.894 | 7.520 | 1.904 | 3.830 | 1.930 | 3.400 |
89 | 7.766 | 7.417 | 1.743 | 3.691 | 1.725 | 3.102 |
90 | 7.653 | 7.326 | 1.580 | 3.573 | 1.529 | 2.826 |
91 | 7.556 | 7.247 | 1.412 | 3.468 | 1.346 | 2.510 |
92 | 7.472 | 7.180 | 1.252 | 3.365 | 1.177 | 2.221 |
93 | 7.395 | 7.118 | 1.101 | 3.264 | 1.023 | 1.957 |
94 | 7.319 | 7.057 | 0.960 | 3.166 | 0.883 | 1.715 |
95 | 7.245 | 6.997 | 0.829 | 3.069 | 0.757 | 1.493 |
96 | 7.171 | 6.938 | 0.708 | 2.971 | 0.648 | 1.289 |
97 | 7.097 | 6.878 | 0.597 | 2.874 | 0.556 | 1.099 |
98 | 7.023 | 6.818 | 0.496 | 2.777 | 0.470 | 0.923 |
99 | 6.948 | 6.757 | 0.406 | 2.680 | 0.390 | 0.758 |
100 | 6.872 | 6.695 | 0.327 | 2.581 | 0.315 | 0.604 |
101 | 6.793 | 6.631 | 0.263 | 2.478 | 0.246 | 0.501 |
102 | 6.711 | 6.563 | 0.204 | 2.365 | 0.184 | 0.405 |
103 | 6.623 | 6.491 | 0.152 | 2.236 | 0.131 | 0.314 |
104 | 6.525 | 6.409 | 0.108 | 2.076 | 0.089 | 0.228 |
105 | 6.413 | 6.315 | 0.074 | 1.866 | 0.063 | 0.110 |
106 | 6.279 | 6.200 | 0.053 | 1.572 | 0.043 | 0.000 |
107 | 6.113 | 6.054 | 0.037 | 1.143 | 0.031 | 0.000 |
108 | 5.901 | 5.863 | 0.027 | 0.494 | 0.031 | 0.000 |
109 | 5.623 | 5.604 | 0.026 | 0.000 | 0.000 | 0.000 |
110 | 5.252 | 5.247 | 0.000 | 0.000 | 0.000 | 0.000 |
Table 5 Immediate pension and reversion valuation factors — females
| Age | Retirement pension under section 19 of the PCS Act | Invalid pension under section 22 of the PCS Act | Spouse pension under section 23 of the PCS Act |
| Member immediately before 1 February 1990 | Post 1 February 1990 member | Reversion valuation factor | Pension | Reversion valuation factor |
| 20 | 29.762 | 21.240 | 0.860 | 31.497 | 1.206 | 21.572 |
| 21 | 29.553 | 21.130 | 0.874 | 31.255 | 1.228 | 21.410 |
| 22 | 29.340 | 21.017 | 0.888 | 31.006 | 1.250 | 21.244 |
| 23 | 29.121 | 20.901 | 0.903 | 30.751 | 1.272 | 21.074 |
| 24 | 28.898 | 20.782 | 0.919 | 30.490 | 1.295 | 20.900 |
| 25 | 28.669 | 20.660 | 0.935 | 30.223 | 1.319 | 20.722 |
| 26 | 28.436 | 20.535 | 0.951 | 29.950 | 1.342 | 20.539 |
| 27 | 28.198 | 20.408 | 0.968 | 29.671 | 1.366 | 20.352 |
| 28 | 27.955 | 20.277 | 0.985 | 29.386 | 1.390 | 20.160 |
| 29 | 27.707 | 20.144 | 1.002 | 29.095 | 1.415 | 19.965 |
| 30 | 27.455 | 20.007 | 1.019 | 28.797 | 1.439 | 19.763 |
| 31 | 27.198 | 19.868 | 1.036 | 28.494 | 1.463 | 19.558 |
| 32 | 26.936 | 19.726 | 1.053 | 28.184 | 1.488 | 19.348 |
| 33 | 26.670 | 19.581 | 1.070 | 27.867 | 1.512 | 19.132 |
| 34 | 26.398 | 19.432 | 1.088 | 27.543 | 1.537 | 18.912 |
| 35 | 26.121 | 19.280 | 1.105 | 27.212 | 1.562 | 18.687 |
| 36 | 25.839 | 19.125 | 1.122 | 26.874 | 1.587 | 18.457 |
| 37 | 25.552 | 18.966 | 1.140 | 26.530 | 1.612 | 18.221 |
| 38 | 25.260 | 18.804 | 1.157 | 26.178 | 1.637 | 17.981 |
| 39 | 24.962 | 18.639 | 1.174 | 25.818 | 1.661 | 17.735 |
| 40 | 24.660 | 18.470 | 1.192 | 25.452 | 1.686 | 17.484 |
| 41 | 24.352 | 18.297 | 1.209 | 25.079 | 1.710 | 17.227 |
| 42 | 24.039 | 18.121 | 1.225 | 24.698 | 1.733 | 16.966 |
| 43 | 23.722 | 17.942 | 1.241 | 24.311 | 1.756 | 16.700 |
| 44 | 23.400 | 17.758 | 1.257 | 23.917 | 1.777 | 16.428 |
| 45 | 23.073 | 17.572 | 1.272 | 23.516 | 1.798 | 16.150 |
| 46 | 22.741 | 17.382 | 1.287 | 23.108 | 1.818 | 16.714 |
| 47 | 22.406 | 17.189 | 1.299 | 22.694 | 1.834 | 16.204 |
| 48 | 22.065 | 16.992 | 1.310 | 22.274 | 1.849 | 15.698 |
| 49 | 21.721 | 16.792 | 1.321 | 21.847 | 1.862 | 15.194 |
| 50 | 21.373 | 16.588 | 1.330 | 21.414 | 1.874 | 14.694 |
| 51 | 21.021 | 16.382 | 1.338 | 20.976 | 1.885 | 14.199 |
| 52 | 20.665 | 16.172 | 1.345 | 20.531 | 1.893 | 13.707 |
| 53 | 20.306 | 15.959 | 1.350 | 20.081 | 1.899 | 13.221 |
| 54 | 19.944 | 15.743 | 1.354 | 19.625 | 1.904 | 12.740 |
| 55 | 19.579 | 15.524 | 1.357 | 19.163 | 1.906 | 12.266 |
| 56 | 19.210 | 15.301 | 1.358 | 18.697 | 1.906 | 11.797 |
| 57 | 18.839 | 15.076 | 1.357 | 18.224 | 1.904 | 11.334 |
| 58 | 18.465 | 14.848 | 1.354 | 17.747 | 1.901 | 10.879 |
| 59 | 18.090 | 14.617 | 1.350 | 17.264 | 1.895 | 10.431 |
| 60 | 17.711 | 14.382 | 1.344 | 16.776 | 1.886 | 9.991 |
| 61 | 17.331 | 14.145 | 1.337 | 16.284 | 1.875 | 9.709 |
| 62 | 16.949 | 13.906 | 1.327 | 15.788 | 1.861 | 9.427 |
| 63 | 16.566 | 13.663 | 1.314 | 15.289 | 1.842 | 9.147 |
| 64 | 16.182 | 13.419 | 1.297 | 14.786 | 1.818 | 8.866 |
| 65 | 15.797 | 13.172 | 1.278 | 14.282 | 1.790 | 8.588 |
| 66 | 15.413 | 12.923 | 1.254 | 13.776 | 1.755 | 8.184 |
| 67 | 15.030 | 12.673 | 1.227 | 13.269 | 1.716 | 7.790 |
| 68 | 14.647 | 12.421 | 1.197 | 12.762 | 1.672 | 7.288 |
| 69 | 14.266 | 12.168 | 1.165 | 12.255 | 1.625 | 6.805 |
| 70 | 13.887 | 11.915 | 1.130 | 11.748 | 1.575 | 6.341 |
| 71 | 13.511 | 11.661 | 1.092 | 11.243 | 1.522 | 5.896 |
| 72 | 13.139 | 11.407 | 1.052 | 10.740 | 1.465 | 5.468 |
| 73 | 12.769 | 11.153 | 1.010 | 10.240 | 1.405 | 5.060 |
| 74 | 12.404 | 10.899 | 0.965 | 9.747 | 1.341 | 4.668 |
| 75 | 12.045 | 10.647 | 0.918 | 9.261 | 1.273 | 4.296 |
| 76 | 11.691 | 10.496 | 0.868 | 8.786 | 1.200 | 3.944 |
| 77 | 11.346 | 10.149 | 0.815 | 8.324 | 1.123 | 3.610 |
| 78 | 11.010 | 9.907 | 0.759 | 7.876 | 1.039 | 3.216 |
| 79 | 10.685 | 9.670 | 0.701 | 7.442 | 0.955 | 2.848 |
| 80 | 10.370 | 9.439 | 0.642 | 7.021 | 0.872 | 2.505 |
| 81 | 10.068 | 9.214 | 0.583 | 6.614 | 0.789 | 2.187 |
| 82 | 9.776 | 8.996 | 0.525 | 6.221 | 0.708 | 1.893 |
| 83 | 9.496 | 8.784 | 0.469 | 5.843 | 0.630 | 1.620 |
| 84 | 9.227 | 8.578 | 0.415 | 5.484 | 0.556 | 1.367 |
| 85 | 8.970 | 8.380 | 0.364 | 5.146 | 0.485 | 1.194 |
| 86 | 8.727 | 8.191 | 0.314 | 4.832 | 0.414 | 0.976 |
| 87 | 8.500 | 8.012 | 0.267 | 4.545 | 0.349 | 0.775 |
| 88 | 8.289 | 7.845 | 0.227 | 4.283 | 0.294 | 0.642 |
| 89 | 8.096 | 7.691 | 0.189 | 4.047 | 0.242 | 0.519 |
| 90 | 7.920 | 7.550 | 0.154 | 3.835 | 0.196 | 0.404 |
| 91 | 7.761 | 7.422 | 0.125 | 3.643 | 0.157 | 0.345 |
| 92 | 7.617 | 7.305 | 0.096 | 3.467 | 0.118 | 0.241 |
| 93 | 7.486 | 7.199 | 0.075 | 3.304 | 0.091 | 0.188 |
| 94 | 7.364 | 7.100 | 0.057 | 3.154 | 0.067 | 0.138 |
| 95 | 7.252 | 7.008 | 0.043 | 3.015 | 0.049 | 0.090 |
| 96 | 7.148 | 6.922 | 0.035 | 2.885 | 0.038 | 0.044 |
| 97 | 7.050 | 6.841 | 0.034 | 2.764 | 0.037 | 0.043 |
| 98 | 6.958 | 6.765 | 0.033 | 2.650 | 0.036 | 0.042 |
| 99 | 6.871 | 6.693 | 0.032 | 2.541 | 0.035 | 0.041 |
| 100 | 6.786 | 6.623 | 0.030 | 2.435 | 0.033 | 0.039 |
| 101 | 6.703 | 6.554 | 0.029 | 2.328 | 0.032 | 0.038 |
| 102 | 6.620 | 6.485 | 0.027 | 2.216 | 0.030 | 0.037 |
| 103 | 6.533 | 6.412 | 0.025 | 2.093 | 0.029 | 0.035 |
| 104 | 6.440 | 6.334 | 0.022 | 1.946 | 0.027 | 0.034 |
| 105 | 6.335 | 6.245 | 0.019 | 1.757 | 0.024 | 0.000 |
| 106 | 6.212 | 6.139 | 0.016 | 1.495 | 0.022 | 0.000 |
| 107 | 6.060 | 6.006 | 0.012 | 1.105 | 0.019 | 0.000 |
| 108 | 5.866 | 5.830 | 0.008 | 0.494 | 0.017 | 0.000 |
| 109 | 5.607 | 5.589 | 0.004 | 0.000 | 0.000 | 0.000 |
| 110 | 5.252 | 5.247 | 0.000 | 0.000 | 0.000 | 0.000 |
| | | | | | | |
Table 6 Deferred pension valuation factors
Age | Male | Female |
20 | 0.411 | 0.422 |
21 | 0.421 | 0.433 |
22 | 0.432 | 0.443 |
23 | 0.443 | 0.454 |
24 | 0.454 | 0.465 |
25 | 0.465 | 0.476 |
26 | 0.477 | 0.488 |
27 | 0.489 | 0.500 |
28 | 0.501 | 0.512 |
29 | 0.513 | 0.525 |
30 | 0.526 | 0.537 |
31 | 0.539 | 0.551 |
32 | 0.553 | 0.564 |
33 | 0.567 | 0.578 |
34 | 0.581 | 0.592 |
35 | 0.596 | 0.607 |
36 | 0.611 | 0.621 |
37 | 0.626 | 0.637 |
38 | 0.642 | 0.652 |
39 | 0.658 | 0.669 |
40 | 0.675 | 0.685 |
41 | 0.692 | 0.702 |
42 | 0.710 | 0.719 |
43 | 0.728 | 0.737 |
44 | 0.747 | 0.756 |
45 | 0.766 | 0.775 |
46 | 0.786 | 0.794 |
47 | 0.807 | 0.814 |
48 | 0.828 | 0.835 |
49 | 0.850 | 0.856 |
50 | 0.872 | 0.878 |
51 | 0.896 | 0.901 |
52 | 0.920 | 0.925 |
53 | 0.946 | 0.949 |
54 | 0.972 | 0.974 |
55 | 1.000 | 1.000 |
Table 7 Pension and reversion valuation factors — pensions in payment and suspended pensions
Age at relevant date (in completed years) | Pension and reversion valuation factors |
Male | Female |
Pension | Reversion | Pension | Reversion |
18 | 31.5392 | 2.0502 | 32.9054 | 0.8460 |
19 | 31.3119 | 2.0845 | 32.6943 | 0.8620 |
20 | 31.0823 | 2.1177 | 32.4791 | 0.8780 |
21 | 30.8476 | 2.1514 | 32.2590 | 0.8942 |
22 | 30.6073 | 2.1860 | 32.0329 | 0.9112 |
23 | 30.3613 | 2.2214 | 31.8008 | 0.9288 |
24 | 30.1093 | 2.2577 | 31.5629 | 0.9470 |
25 | 29.8513 | 2.2949 | 31.3191 | 0.9656 |
26 | 29.5871 | 2.3330 | 31.0696 | 0.9847 |
27 | 29.3164 | 2.3720 | 30.8143 | 1.0042 |
28 | 29.0392 | 2.4121 | 30.5533 | 1.0239 |
29 | 28.7553 | 2.4532 | 30.2864 | 1.0440 |
30 | 28.4648 | 2.4953 | 30.0138 | 1.0644 |
31 | 28.1671 | 2.5384 | 29.7352 | 1.0849 |
32 | 27.8625 | 2.5825 | 29.4505 | 1.1058 |
33 | 27.5509 | 2.6275 | 29.1598 | 1.1268 |
34 | 27.2318 | 2.6736 | 28.8627 | 1.1481 |
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 |
100 | 3.3890 | 0.2481 | 3.2455 | 0.0944 |
101 | 3.2607 | 0.2250 | 3.1076 | 0.0831 |
102 | 3.1260 | 0.1977 | 2.9686 | 0.0700 |
103 | 2.9807 | 0.1645 | 2.8239 | 0.0549 |
104 | 2.8184 | 0.1230 | 2.6672 | 0.0377 |
105 | 2.6294 | 0.0697 | 2.4895 | 0.0190 |
106 | 2.3996 | 0.0000 | 2.2773 | 0.0000 |
107 | 2.1083 | 0.0000 | 2.0109 | 0.0000 |
108 | 1.7256 | 0.0000 | 1.6601 | 0.0000 |
109 | 1.2082 | 0.0000 | 1.1785 | 0.0000 |
110 | 0.4941 | 0.0000 | 0.4941 | 0.0000 |
Table 8 Unindexed pension valuation factors — pensions in payment and suspended pensions
Age at relevant date (in completed years) | Unindexed pension valuation factor |
Male | Female |
18 | 15.2550 | 15.4795 |
19 | 15.2277 | 15.4585 |
20 | 15.2002 | 15.4365 |
21 | 15.1713 | 15.4133 |
22 | 15.1406 | 15.3883 |
23 | 15.1081 | 15.3614 |
24 | 15.0735 | 15.3326 |
25 | 15.0367 | 15.3020 |
26 | 14.9976 | 15.2694 |
27 | 14.9561 | 15.2349 |
28 | 14.9120 | 15.1983 |
29 | 14.8650 | 15.1597 |
30 | 14.8153 | 15.1188 |
31 | 14.7623 | 15.0757 |
32 | 14.7061 | 15.0301 |
33 | 14.6465 | 14.9820 |
34 | 14.5832 | 14.9312 |
35 | 14.5162 | 14.8774 |
36 | 14.4453 | 14.8204 |
37 | 14.3702 | 14.7602 |
38 | 14.2906 | 14.6966 |
39 | 14.2065 | 14.6293 |
40 | 14.1175 | 14.5583 |
41 | 14.0234 | 14.4833 |
42 | 13.9240 | 14.4042 |
43 | 13.8191 | 14.3208 |
44 | 13.7085 | 14.2332 |
45 | 13.5919 | 14.1410 |
46 | 13.4693 | 14.0442 |
47 | 13.3404 | 13.9425 |
48 | 13.2052 | 13.8358 |
49 | 13.0637 | 13.7240 |
50 | 12.9156 | 13.6069 |
51 | 12.7609 | 13.4844 |
52 | 12.5997 | 13.3562 |
53 | 12.4319 | 13.2223 |
54 | 12.2575 | 13.0824 |
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 |
66 | 9.6836 | 10.8648 |
67 | 9.4371 | 10.6307 |
68 | 9.1873 | 10.3891 |
69 | 8.9346 | 10.1400 |
70 | 8.6790 | 9.8836 |
71 | 8.4207 | 9.6200 |
72 | 8.1596 | 9.3492 |
73 | 7.8955 | 9.0714 |
74 | 7.6282 | 8.7870 |
75 | 7.3582 | 8.4969 |
76 | 7.0868 | 8.2023 |
77 | 6.8161 | 7.9050 |
78 | 6.5477 | 7.6066 |
79 | 6.2834 | 7.3091 |
80 | 6.0247 | 7.0137 |
81 | 5.7729 | 6.7207 |
82 | 5.5290 | 6.4300 |
83 | 5.2943 | 6.1420 |
84 | 5.0695 | 5.8578 |
85 | 4.8558 | 5.5791 |
86 | 4.6542 | 5.3083 |
87 | 4.4657 | 5.0483 |
88 | 4.2918 | 4.8023 |
89 | 4.1345 | 4.5724 |
90 | 3.9956 | 4.3599 |
91 | 3.8770 | 4.1650 |
92 | 3.7753 | 3.9868 |
93 | 3.6821 | 3.8227 |
94 | 3.5907 | 3.6698 |
95 | 3.4995 | 3.5264 |
96 | 3.4092 | 3.3917 |
97 | 3.3182 | 3.2650 |
98 | 3.2257 | 3.1450 |
99 | 3.1314 | 3.0302 |
100 | 3.0351 | 2.9190 |
101 | 2.9355 | 2.8093 |
102 | 2.8303 | 2.6984 |
103 | 2.7160 | 2.5823 |
104 | 2.5866 | 2.4555 |
105 | 2.4331 | 2.3095 |
106 | 2.2416 | 2.1315 |
107 | 1.9911 | 1.9016 |
108 | 1.6502 | 1.5886 |
109 | 1.1714 | 1.1428 |
110 | 0.4845 | 0.4845 |
| | | |
Table 9 Discount valuation factors — suspended pensions
Minimum deferral period for pension (in complete years) | Discount valuation factors |
0 | 1.000 |
1 | 0.977 |
2 | 0.954 |
3 | 0.932 |
4 | 0.911 |
5 | 0.891 |
6 | 0.871 |
7 | 0.852 |
8 | 0.833 |
9 | 0.814 |
10 | 0.796 |
11 | 0.779 |
12 | 0.762 |
13 | 0.745 |
14 | 0.728 |
15 | 0.712 |
16 | 0.696 |
17 | 0.681 |
18 | 0.666 |
19 | 0.651 |
20 | 0.637 |
21 | 0.622 |
22 | 0.609 |
23 | 0.595 |
24 | 0.582 |
25 | 0.569 |
26 | 0.556 |
27 | 0.544 |
28 | 0.532 |
29 | 0.520 |
30 | 0.508 |
31 | 0.497 |
32 | 0.486 |
33 | 0.475 |
34 | 0.464 |
35 | 0.454 |
36 | 0.443 |
37 | 0.433 |
38 | 0.424 |
39 | 0.414 |
40 | 0.405 |
Schedule 3 Public sector superannuation plans — Victoria
(section 4)
Part 1 Superannuation scheme established by the State Superannuation Act 1988 (Vic) — new scheme members
Division 1.1 Definitions
1 Definitions
In this Part:
new scheme member has the same meaning as in section 3 of the SS Act, and includes a deferred beneficiary from the new scheme within the superannuation scheme established by the SS Act.
Portability Act means the Superannuation (Portability) Act 1989 (Vic).
PSME Act means the Public Sector Management and Employment Act 1998 (Vic).
SS Act means the State Superannuation Act 1988 (Vic).
Division 1.2 Interests in the growth phase
2 Methods and factors for interests of new scheme members in superannuation scheme established by SS Act
For an interest, or a component of an interest, of a new scheme member that is in the growth phase in the superannuation scheme established by the SS Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.
Item | Interest in the growth phase | Method or factor |
1 | The component of an interest that a person who has resigned has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred benefit under paragraph 58 (1) (b) of the SS Act. | The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred benefit to which he or she is entitled under paragraph 58 (1) (b) of the SS Act to a present lump sum under subsection 58 (4) of that Act, adjusted as required by the SS Act. |
2 | An interest, or a component of an interest, that a person who has become an exempt officer has as a new scheme member in the superannuation scheme established by the SS Act, consisting of a deferred lump sum under subsection 61A (2) of the SS Act. | The amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum under subsection 61A (2) of the SS Act to a present lump sum under subsection 61A (5) of the SS Act, adjusted as required by the SS Act. |
3 | The component of an interest that a person, who became eligible to be a member of 1 of the schemes listed below and under subsection 69 (3) of the SS Act elected to cease to contribute, has under subsection 69 (4) or (5) of the SS Act as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of a deferred lump sum that the person is entitled to receive under subsection 69 (4) or (5) of the SS Act. | The amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to the deferred retirement benefit under subsection 69 (4) or (5) of the SS Act to a present lump sum under subsection 69 (4A) of the SS Act, adjusted as required by the SS Act. |
| Schemes Transport Superannuation Fund Hospitals Superannuation Fund Local Authorities Superannuation Fund Emergency Services Superannuation Fund State Casual Employees Superannuation Fund Melbourne and Metropolitan Board of Works Superannuation Fund Gas and Fuel Corporation of Victoria Superannuation Fund | |
| State Electricity Commission Superannuation Fund Superannuation Schemes For Australian Universities GIO Personal Superannuation Fund GIO Staff Superannuation Plan | |
4 | The component of an interest that a person: (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and (b) who has elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act; has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred retirement benefit that the person has elected to receive under paragraph 69B (3) (b) of the SS Act. | The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred retirement benefit under paragraph 69B (3) (b) of the SS Act to a present lump sum under subsection 61A (5) of the SS Act, adjusted as required by the SS Act. |
5 | The component of an interest that a person: (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and | The amount of lump sum to which the person would be entitled if he or she were to convert his or her entitlement to a deferred lump sum under subsection 61A (2) of the SS Act to a present lump sum under subsection 61A (5) of the SS Act, adjusted as required by the SS Act. |
| (b) who has not elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act; has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of a deferred lump sum to which the person is entitled under subsection 61A (2) of the SS Act. | |
6 | An interest, or a component of an interest, that a person who: (a) on a change of his or her employment is entitled to a deferred retirement benefit under the Portability Act; and (b) has not made an election under subsection 7 (7) of the Portability Act; has as a new scheme member in the superannuation scheme established by the SS Act, consisting of the deferred retirement benefit to which the person is entitled under the Portability Act. | The amount of the lump sum to which the person would be entitled if he or she were to convert his or her deferred retirement benefit determined under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SS Act or the Portability Act. |
7 | The component of the interest that a person who: (a) becoming entitled on a change to his or her employment to a deferred retirement benefit under the Portability Act; (b) subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act; | The amount of the lump sum to which the person would be entitled if he or she were to convert his or her deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SS Act or the Portability Act. |
| has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred retirement benefit to which the person is entitled under paragraph 7 (7) (b) of the Portability Act. | |
Division 1.3 Interests in the payment phase
3 Methods and factors for interests of new scheme members in superannuation scheme established by SS Act
For an interest of a new scheme member that is in the payment phase in the superannuation scheme established by the SS Act and that is mentioned in an item in the following table, the method or factor mentioned in an item is approved for section 4 of this approval.
Item | Interest in the payment phase | Method or factor |
1 | An interest that a person who has retired on the ground of disability has as a new scheme member in the superannuation scheme established by the SS Act. | The method set out in clause 2 of Schedule 4 to the Regulations for determining the gross value of a pension that is indexed in accordance with the consumer price index, with the modification that the term ‘r’ in subclause 2 (1) is taken to be zero. |
Part 2 Superannuation scheme established by the State Superannuation Act 1988 (Vic) — revised scheme members
1 Definitions
In this Part:
Emergency Services Superannuation Board means the Emergency Services Superannuation Board established under subsection 5 (1) of the Emergency Services Superannuation Act 1986 (Vic).
new scheme has the same meaning as in subsection 61 (1) of the SS Act.
Portability Act means the Superannuation (Portability) Act 1989 (Vic).
PSME Act means the Public Sector Management and Employment Act 1998 (Vic).
revised scheme member has the same meaning as in section 3 of the SS Act, and includes a deferred beneficiary from the revised scheme within the superannuation scheme established by the SS Act.
SS Act means the State Superannuation Act 1988 (Vic).
Transport Superannuation Fund means the Transport Superannuation Fund referred to in subsection 61 (5) of the SS Act.
TS Act means the Transport Superannuation Act 1989 (Vic).
2 Methods and factors for interests of revised scheme members in superannuation scheme established by SS Act
For an interest of a revised scheme member that is in the growth phase in the superannuation scheme established by the SS Act mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.
Item | Interest in the growth phase | Method or factor |
1 | An interest that a person has as a revised scheme member in the superannuation scheme established by the SS Act, other than where he or she has: (a) retired (including on the grounds of disability); or (b) resigned; or (c) been retrenched; or (d) before attaining the minimum age for retirement, ceased to be an officer after not being reappointed as a statutory officer; or (e) become an exempt officer within the meaning in subsection 3 (1) of the SS Act; or | If the person has not attained the minimum age for retirement — the greatest lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s resignation or retrenchment under the SS Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 71C (4) of the SS Act. If the person has attained the minimum age for retirement — the greatest lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s retirement through age under the SS Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 71C (4) of the SS Act. |
| (f) following a change in his or her employment, an entitlement to a deferred retirement benefit under the Portability Act; or (g) elected to transfer to the new scheme under subsection 61 (1) of the SS Act or to the Transport Superannuation Fund under section 4 of the TS Act; or | |
| (h) has had his or her employment terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); or | |
| (i) elected under subsection 69 (3) of the SS Act to cease to contribute in accordance with that Act. | |
| For this item, a member shall not be taken to have been retrenched or to have resigned or retired until they have applied for the relevant benefit and satisfied the requirements of the Emergency Services Superannuation Board to establish their entitlement. | |
2 | The component of an interest that a person, who has resigned and elected to receive a cash benefit and a deferred pension under paragraph 46 (1) (a) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person has elected to receive under paragraph 46 (1) (a) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 46 (1) (a) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the |
| | references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
3 | The component of an interest that a person, who has resigned and elected to receive a cash benefit and a deferred pension under paragraph 46 (1) (b) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person has elected to receive under paragraph 46 (1) (b) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 46 (1) (b) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
4 | The component of an interest that a person, who has resigned and elected to receive a cash benefit and a deferred pension under subsection 46 (3) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person has elected to receive under subsection 46 (3) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under subsection 46 (3) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
5 | An interest, or a component of an interest, that a person, who has been retrenched and elected to receive a deferred pension under paragraph 44 (1) (b) of the SS Act or who is determined to be entitled to a deferred pension under subsection 44 (2) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension that the person is entitled to receive under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
6 | An interest, or a component of an interest, that a person has as a revised scheme member in the superannuation scheme established by the SS Act if the person was appointed for a term of years to a statutory office and before attaining the minimum age for retirement ceases to be an officer on not being re‑appointed to that statutory office, and has elected to receive a deferred pension under paragraph 44 (1) (b) of the SS Act or who is determined to be entitled to a deferred pension under subsection 44 (2) of the SS Act, consisting of the deferred pension that the person is entitled to receive under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
7 | An interest, or a component of an interest, that a person who has become an exempt officer has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension that the person is entitled to receive under subsection 61A (1) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under subsection 61A (1) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
8 | An interest, or a component of an interest, that a person, who following a change in his or her employment, is entitled to a deferred retirement benefit under subsection 5 (1) of the Portability Act and has not made an election under subsection 7 (7) of the Portability Act, has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension that the person is entitled to receive under the Portability Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the pension that is the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date adjusted under subsection 7 (6) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act or the Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
9 | The component of an interest that a person who, becoming entitled on a change to his or her employment to a deferred retirement benefit under the Portability Act, subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person is entitled to receive under the Portability Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the pension that is the person’s deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date adjusted under subsection 7 (6) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act or the Portability Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
10 | The component of an interest that a person, who: (a) has elected under subsection 61 (1) of the SS Act to transfer from the revised scheme into the new scheme; and (b) has elected under subsection 61 (2A) of the SS Act to receive a cash benefit and a reduced deferred pension; has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the reduced deferred pension. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under subsection 61 (2A) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
11 | An interest, or a component of an interest, that a person: (a) who has elected under subsection 61 (1) of the SS Act to transfer from the revised scheme into the new scheme; and (b) who is subsequently retrenched and under the operation of subsection 61 (9) of the SS Act is entitled to receive a deferred pension under paragraph 44 (1) (b) or | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. |
| subsection 44 (2) of the SS Act; has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension or the deferred benefit to which the person is entitled under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act. | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
12 | The component of an interest that a person, who has elected under subsection 61 (1) of the SS Act to transfer from the revised scheme into the new scheme but has not been subsequently retrenched and has not made an election under subsection 61 (2A) of the SS | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under subsection 61 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred |
| Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension to which the person is entitled under subsection 61 (2) of the SS Act. | pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
13 | The component of an interest that a person, who: (a) has elected under subsection 61 (5) of the SS Act to transfer from the revised scheme into the Transport Superannuation Fund; and (b) has elected under paragraph 61 (5) (b) of the SS Act to receive a cash benefit and a reduced deferred pension; had as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the reduced deferred pension. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 61 (5) (b) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
14 | An interest, or a component of an interest, that a person: (a) who has elected to transfer from the revised scheme into the Transport Superannuation Fund; and (b) who is subsequently retrenched and under the operation of subsection 61 (10) of the SS Act elects to receive a deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act; has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension to which the person is entitled under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
15 | A component of an interest that a person, who has elected under subsection 61 (5) of SS Act to transfer from the revised scheme into the Transport Superannuation Fund but has not been subsequently retrenched and has not made an election under paragraph 61 (5) (b) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension to which the person is entitled under paragraph 61 (5) (a) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under paragraph 61 (5) (a) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
16 | The component of an interest that a person, who became eligible to be a member of 1 of the schemes listed below and under subsection 69 (3) of the SS Act elected to cease to be a contributor, has under subsection 69 (4) or (5) of that Act as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person is entitled to receive under subsection 69 (4) or (5) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under subsection 69 (4) or (5) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation |
| Schemes Transport Superannuation Fund Hospitals Superannuation Fund Local Authorities Superannuation Fund Emergency Services Superannuation Fund State Casual Employees Superannuation Fund Melbourne and Metropolitan Board of Works Superannuation Fund Gas and Fuel Corporation of Victoria Superannuation Fund | factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those |
| State Electricity Commission Superannuation Fund Superannuation Schemes For Australian Universities | Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member |
| GIO Personal Superannuation Fund GIO Staff Superannuation Plan | spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
17 | The component of an interest that a person: (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and (b) who has elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act; has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred retirement benefit that the person has elected to receive under paragraph 69B (3) (b) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred retirement benefit under paragraph 69B (3) (b) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
18 | The component of an interest that a person: (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and (b) who has not elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act; has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension to which the person is entitled under subsection 61A (1) of the SS Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the person’s deferred pension under subsection 61A (1) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
Part 3 Victorian State Employees Retirement Benefits Scheme
1 Definitions
In this Part:
Emergency Services Superannuation Board means the Emergency Services Superannuation Board established under subsection 5 (1) of the Emergency Services Superannuation Act 1986 (Vic).
SERB Act means the State Employees Retirement Benefits Act 1979 (Vic).
SS Act means the State Superannuation Act 1988 (Vic).
Transport Superannuation Fund means the Transport Superannuation Fund referred to in subsection 61 (5) of the SS Act.
2 Methods and factors for interests of members of superannuation scheme established by SERB Act
For an interest, or a component of an interest, of a member that is in the growth phase in the superannuation scheme established by the SERB Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.
Item | Interest in the growth phase | Method or factor |
1 | An interest that a person has as a member of the superannuation scheme established by the SERB Act, other than where he or she has: (a) retired (including on the grounds of disability); or (b) resigned; or | If the person has not attained the age of 55 years — the greatest lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s resignation under the SERB Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 74CA (4) of the SERB Act. |
| (c) been retrenched and elected to be entitled to deferred retirement benefits under section 38 of the SERB Act; or (d) become an exempt officer within the meaning in subsection 2 (1) of the SERB Act; or | If the person has attained the age of 55 years — the lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s retirement through age under the SERB Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 74CA (4) of the SERB Act. |
(e) following a change in his or her employment, become entitled to a deferred retirement benefit under the Portability Act; or | |
| (f) elected to transfer to the SS Fund or to the Transport Superannuation Fund under subsection 33 (6) of the SERB Act; or | |
| (g) become entitled to benefits under subsection 77 (1) of the SERB Act on ceasing to be an employee of a water authority so as to become an employee of another water authority; or (h) elected under subsection 22A (3) of the SERB Act to cease to contribute in accordance with that Act. | |
| For this item, a member shall not be taken to have been retrenched or to have resigned or retired before they have applied for the relevant benefit and satisfied the requirements of the Emergency Services Superannuation Board to establish their entitlement. For this item, any cessation of employment is to be disregarded if the member ceased to be a permanent employee but within 6 months again became an employee and made an election under subsection 21A (4) of the SERB Act. | |
2 | The interest that a person, who became eligible to be a member of 1 of the schemes listed below and, under paragraph 22A (3) (a) of the SERB Act, elected to cease to contribute in accordance with the provisions of that Act and to be entitled to deferred retirement benefits under paragraph 22A (4) (a) of that Act, has as a member of the superannuation scheme established by the SERB Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act. |
| Schemes State Superannuation Fund | DP is the annual amount of the pension that is part of the person’s deferred retirement benefit determined under section |
| Transport Superannuation Fund Hospitals Superannuation Fund Local Authorities Superannuation Fund Emergency Services Superannuation Fund | 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to |
| State Casual Employees Superannuation Fund Melbourne and Metropolitan Board of Works Superannuation Fund Gas and Fuel Corporation of Victoria Superannuation Fund State Electricity Commission Superannuation Fund Superannuation Schemes For Australian Universities Zoological Board of Victoria Superannuation Fund | the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references |
| | in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
3 | The component of an interest that a person, who became eligible to be a member of 1 of the schemes listed below and who, after electing under paragraph 22A (3) (a) of the SERB Act to cease to contribute in accordance with the provisions of that Act and to be entitled to deferred retirement benefits under paragraph 22A (4) (a) of that Act terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of a deferred lump sum benefit and the deferred pension benefit that the person has elected to receive under paragraph 22A (4) (a) of the SS Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act. DP is the annual amount of the pension that is part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to |
| Schemes State Superannuation Fund Transport Superannuation Fund Hospitals Superannuation Fund Local Authorities Superannuation Fund Emergency Services Superannuation Fund State Casual Employees Superannuation Fund Melbourne and Metropolitan Board of Works Superannuation Fund | the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s |
| Gas and Fuel Corporation of Victoria Superannuation Fund State Electricity Commission Superannuation Fund Superannuation Schemes For Australian Universities Zoological Board of Victoria Superannuation Fund | age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
4 | The component of an interest that a person who has resigned and elected under section 38 of the SERB Act to be entitled to deferred retirement benefits in accordance with the provisions of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of a deferred lump sum benefit and the deferred pension under the Portability Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum under section 6 of the Portability Act to a present lump sum under subsection 38 (2A) of the SERB Act, adjusted as required by the SERB Act or the Portability Act. DP is the annual amount of the pension, |
| | being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under section 6 of the Portability Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
5 | The component of an interest that a person who has resigned (other than a person who has elected under subsection 38 (1) of the SERB Act to be entitled to deferred retirement benefits in accordance with the provisions of the Portability Act) has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred benefit under paragraph 37 (1) (b) of the SERB Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum under paragraph 37 (1) (b) of the SERB Act to a present lump sum under subsection 37 (1B) of the SERB Act, adjusted as required by the SERB Act. DP is the annual amount of the pension, to which the person is entitled under |
| | subparagraph 37 (1) (b) (ii) of the SERB Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor in column 3 of the table in clause 4 of Schedule 6 to the Regulations as if the reference to ‘minimal deferral period for lump sum’ in that table is a reference to ‘time until person attains the age of 55 years’. |
| | PVF is the applicable pension valuation factor set out in clause 4 of Schedule 4 to the Regulations at age 55 years. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
6 | An interest, or a component of an interest that a person, who has been retrenched and elected to be entitled to deferred retirement benefits under section 38 of the SERB Act, has as a member of the superannuation scheme established by the SERB Act, consisting of a deferred lump sum benefit and the deferred pension to which the person is entitled under the Portability Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under section 6 of the Portability Act to a present lump sum under subsection 38 (2A) of the SERB Act, adjusted as required by the SERB Act or the Portability Act. |
| | DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under section 6 of the Portability Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
7 | The component of an interest that a person, who has been retrenched and elected to be entitled to deferred retirement benefits under section 37 of the SERB Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred benefit under paragraph 37 (1) (b) of the SERB Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum, to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under paragraph 37 (1) (b) of the SERB Act to a present lump sum under subsection 37 (1B) of the SERB Act, adjusted as required by the SERB Act. |
| | DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under paragraph 37 (1) (b) of the SERB Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
8 | An interest, or a component of an interest, that a person, who has become an exempt officer and has not made an election under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, consisting of a deferred lump sum benefit and the deferred pension to which the person is entitled under the Portability Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum, to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under section 6 of the Portability Act to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act. |
| | DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under subsection 6 (1) of the Portability Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
9 | The component of an interest that a person, who after becoming an exempt officer subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred retirement benefit to which the person is entitled under paragraph 7 (7) (b) of the Portability Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum, to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under paragraph 7 (7) (b) of the Portability Act to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act. DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under section 6 of the Portability Act for a member electing to |
| | receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s |
| | age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
10 | An interest, or a component of an interest that a person who, following a change in his or her employment, is entitled to a deferred retirement benefit under the Portability Act and has not made an election under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, consisting of a deferred lump sum and the deferred pension to which the person is entitled under the Portability Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act. DP is the annual amount of the pension that is part of the person’s deferred |
| | retirement benefit determined under section 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
11 | The component of an interest that a person who, becoming entitled on a change to his or her employment to a deferred retirement benefit under the Portability Act, subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of a deferred lump sum benefit and the deferred pension under the Portability Act. | The formula: DLS + [DP × F × (PVF + RVF × .6667)] where: DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act. DP is the annual amount of the pension that is part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
12 | The component of an interest that a person, who prior to the introduction of the Portability Act has resigned and elected under section 38 of the SERB Act to be entitled to deferred retirement benefits in accordance with the provisions of the Superannuation Benefits Act 1977 (Vic), has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred pension. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under subsection 3 (1) or section 4 of the Superannuation Benefits Act 1977 (Vic) for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
13 | The component of an interest that a person, who prior to the introduction of the Portability Act has been retrenched and elected to be entitled to deferred retirement benefits under section 38 of the SERB Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred pension. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under subsection 3 (1) of the Superannuation Benefits Act 1977 (Vic) for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act. |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at |
| | relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
Part 4 Benefits provided under the Superannuation Benefits Act 1977 (Vic)
1 Methods and factors for interests of deferred beneficiaries under Superannuation Benefits Act 1977 (Vic)
For a component of an interest that is in the growth phase under the Superannuation Benefits Act 1977 (Vic) mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.
Item | Interest in the growth phase | Method or factor |
1 | The component of an interest that a person, who became eligible to a deferred pension under subsection 3 (1) of the Superannuation Benefits Act 1977 (Vic), has under subsection 3 (1) or section 4 of that Act being the component consisting of the deferred pension under subsection 3 (1) or section 4 of that Act. | The formula: DP × F × (PVF + RVF × .6667) where: DP is the annual amount of the pension that is the person’s deferred retirement benefit determined under subsection 3 (1) or section 4 of the Superannuation Benefits Act 1977 (Vic) at the relevant date adjusted as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act or the Superannuation Benefits Act 1977 (Vic). |
| | F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the |
| | references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1. |
| | PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’. |
| | RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the Regulations. |
Part 5 Benefits provided under Transport Superannuation Act 1989 (Vic)
Division 5.1 Definitions
1 Definitions
In this Part:
Portability Act means the Superannuation (Portability) Act 1989 (Vic).
SS Act means the State Superannuation Act 1988 (Vic).
TS Act means the Transport Superannuation Act 1989 (Vic).
Division 5.2 Interests in the growth phase
2 Methods and factors for interests of members of superannuation scheme established by TS Act
For an interest, or a component of an interest, of a member that is in the growth phase in the superannuation scheme established by the TS Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.
Item | Interest in the growth phase | Method or factor |
1 | An interest, or a component of an interest, that a person who has resigned has as a member of the superannuation scheme established by the TS Act, consisting of the deferred benefit he or she is entitled to receive under paragraph 35 (1) (b) of the TS Act. | The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred benefit to which he or she is entitled under paragraph 35 (1) (b) of the TS Act to a present lump sum under subsection 35 (4A) of that Act, adjusted as required by the TS Act. |
2 | An interest, or a component of an interest, that a person, who has become an exempt officer, has as a member of the superannuation scheme established by the TS Act, consisting of a deferred lump sum under subsection 34A (1) of the TS Act. | The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred lump sum to which he or she is entitled under subsection 34A (1) of the TS Act to a present lump sum under subsection 34A (3) of that Act, adjusted as required by the TS Act. |
3 | An interest or a component of an interest, that a person, who following a change in his or her employment is entitled to a deferred retirement benefit under subsection 5 (1) of the Portability Act and has not made an election under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the TS Act, consisting of the deferred retirement benefit under the Portability Act. | The amount of the lump sum to which the person would be entitled if he or she were to convert the person’s deferred retirement benefit under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the TS Act or the Portability Act. |
4 | The component of an interest that a person who, on a change in his or her employment would otherwise be entitled to a deferred retirement benefit under subsection 5 (1) of the Portability Act, terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, being the component consisting of the deferred retirement benefit he or she has elected to receive under paragraph 7 (7) (b) of the Portability Act. | The amount of the lump sum to which the person would be entitled if he or she were to convert the person’s deferred retirement benefit under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the TS Act or the Portability Act. |
Division 5.3 Interests in the payment phase
3 Methods and factors for interests of members of superannuation scheme established by TS Act
For an interest of a member that is in the payment phase in the superannuation scheme established by the TS Act and that is mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this approval.
Item | Interest in the payment phase | Method or factor |
1 | An interest that a person who has retired on the ground of disability has as a member of the superannuation scheme established by the TS Act. | The method set out in clause 2 of Schedule 4 to the Regulations for determining the gross value of a pension that is indexed in accordance with the consumer price index, with the modification that the term ‘r’ in subclause 2 (1) is taken to be zero. |
| | |
Part 6 State Parliamentary Contributory Superannuation Fund
Division 6.1 Definitions
1 Definitions
In this Part:
additional percentage component has the meaning given by section 1 of the State methodology.
basic percentage component has the meaning given by section 1 of the State methodology.
Commonwealth Act means the Parliamentary Contributory Superannuation Act 1948.
Commonwealth office means an office of a Minister of State or office holder within the meaning given by subsection 4 (1) of the Commonwealth Act.
Commonwealth supplement component has the meaning given by section 1 of the State methodology.
Legislative Assembly means the Legislative Assembly of Victoria.
Legislative Council means the Legislative Council of Victoria.
Parliamentary Trustee means the Parliamentary Trustee established by section 11A of the State Act.
State Act means the Parliamentary Salaries and Superannuation Act 1968 (Vic).
State methodology means the methodology approved by the Minister for Finance for Victoria on 23 June 2004 under section 21CD of the State Act.
State office means an office specified in the table in subsection 6 (2) of the State Act.
State Scheme means the scheme constituted by Part II of the State Act.
Division 6.2 Interests in the growth phase
2 Methods and factors for interests in the State Scheme
For an interest that is in the growth phase in the State Scheme mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this instrument.
Item | Interest | Method |
1 | An interest that a member of the Legislative Assembly or the Legislative Council has in the State Scheme. | 
where: ABP is the person’s accrued basic pension multiple at the relevant date calculated, by reference to the person’s period of service as a member of the Legislative Assembly or the Legislative Council: (a) by adding: (i) for service that occurred within the first 8 years — 0.0625 × each full year of service plus 0.0625/365 × the number of left‑over days in that period; and (ii) for service that occurred within the next 10 years — 0.025 × each full year of service plus 0.025/365 × the number of left‑over days in that period; and (b) if the Parliamentary Trustee has paid an amount in respect of the interest under section 21CC of the State Act — by subtracting from the amount calculated under paragraph (a) the sum of any basic percentage components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a pension under the State Act becomes payable in respect of the interest. Note ABP will not exceed 0.75. BasicS is the person’s basic salary, within the meaning given by subsection 10 (1) of the State Act, at the relevant date. AARA is the accrued additional retiring allowance, if any, to which the person would be entitled under the Commonwealth Act if: (a) he or she were a member of the House of Representatives or a Senator (and had been such a member during the time he or she was a member of the Legislative Assembly or the Legislative Council); and |
| | (b) the time he or she held any State office were time spent in an equivalent Commonwealth office; |
| | being the lesser of: (c) the sum of additional retiring allowances the person would have accrued at the relevant date for each Commonwealth office that the person would have held during the person’s period of service calculated, for each office, as the product of: |
| | (i) the person’s accrued additional retiring allowance multiple — being 0.0625 × the number of years, and any fraction of a year, the person served in the State office during that period and, if the Parliamentary Trustee has paid or transferred an amount in respect of the interest under section 21CC of the State Act, that multiple less the sum of any additional percentage components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a pension under that Act becomes payable; and |
| | (ii) the annual additional salary payable in respect of the equivalent State office under section 6 of the State Act at the relevant date; and |
| | (d) whichever of the following applies: (i) if the person would have accrued additional retiring allowance for 1 Commonwealth office only and the Parliamentary Trustee has not paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the annual additional salary payable in respect of the person’s State office at the relevant date; |
| | (ii) if the person would have accrued additional retiring allowance for 1 Commonwealth office only and the Parliamentary Trustee has paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the annual additional salary payable in respect of the person’s State office at the relevant date less the product of the sum of any additional percentage components arising from any previous payment splits (calculated in accordance with the State methodology) and that annual additional salary at the relevant date; |
| | (iii) if the person would have accrued additional retiring allowance for 2 or more Commonwealth offices and the Parliamentary Trustee has not paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the highest annual additional salary payable in respect of the person’s State offices at the relevant date; |
| | (iv) if the person would have accrued additional retiring allowance for 2 or more Commonwealth offices and the Parliamentary Trustee has paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the highest annual additional salary payable in respect of the person’s State offices at the relevant date less the sum of the products of any additional percentage components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a pension under the State Act becomes payable, and the annual additional salary payable in respect of the office to which the additional percentage component applies at the relevant date. |
| | PFy+m,s is the pension valuation factor calculated in accordance with the following formula: 
where: |
| | PFy,s is the pension valuation factor mentioned for: (a) the person’s age in completed years (y) at the relevant date; and (b) the person’s period of service in completed years (s) as at the date of the last Legislative Assembly election before the relevant date; in whichever of Tables 1 to 8 is applicable, according to Table A, given the person’s gender and the number of completed years, at the relevant date, since the last election of the Legislative Assembly. |
| | m is the number of complete months of the person’s age at the relevant date that are not included in the person’s completed years of age. |
| | PFy+1,s is the pension valuation factor mentioned in whichever of Tables 1 to 8 is applicable that would apply if the person’s age in completed years at the relevant date were 1 year more than it is. LS is the sum of the person’s member contributions paid to the relevant date less the sum of any member contribution components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under the State Act becomes payable in respect of the interest if the person is not entitled to a pension, plus: |
| | (a) for a person whose period of service is less than 8 years — 2 1/3 times the amount deducted from the person’s salary under section 14 of the State Act in the person’s period of service before the relevant date, less the sum of any Commonwealth supplement components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under the State Act becomes payable in respect of the interest if the person is not entitled to a pension; or (b) for a person whose period of service is at least 8 years — 2 1/3 times the amount deducted from the person’s salary under section 14 of the State Act in the period of service of 8 years immediately before the relevant date, less the sum of any Commonwealth supplement components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under that Act becomes payable in respect of the interest if the person is not entitled to a pension. LSFy+m,s is the lump sum factor calculated in accordance with the following formula: 
|
| | where: LSFy,s is the lump sum valuation factor mentioned for: (a) the person’s age in completed years (y) at the relevant date; and (b) the person’s period of service in completed years (s) as at the date of the last Legislative Assembly election before the relevant date; |
| | in whichever of Tables 9 to 16 is applicable, according to Table A, given the person’s gender and the number of completed years, at the relevant date, since the last election of the Legislative Assembly. m has the meaning given above. LSFy+1,s is the lump sum valuation factor mentioned in whichever of Tables 9 to 16 is applicable that would apply if the person’s age in completed years at the relevant date were 1 year more than it is. |
Division 6.3 Interests in the payment phase
3 Methods and factors for interests in the State Scheme
For an interest that is in the payment phase in the State Scheme mentioned in an item in the following table, the method or factor mentioned in the item is approved for section 4 of this instrument.
Item | Interest | Method |
1 | An interest that a person has in the State Scheme if he or she is entitled to be paid a pension under that Scheme. | 
where: A is the pension, expressed as an annual amount, to which the person is entitled under Part II of the State Act. Fy+m is the factor calculated in accordance with the following formula: 
where: |
| | Fy is the pension valuation factor mentioned in Table 17 that applies at the person’s age in completed years (y) at the relevant date for the person’s gender and type of pension. m is the number of complete months of the person’s age at the relevant date that are not included in the person’s completed years of age. Fy+1 is the pension valuation factor mentioned in Table 17 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is. |
Division 6.4 Factors
Table A Valuation factors for members of the Legislative Assembly and members of the Legislative Council
Gender | Period of service since last Legislative Assembly election (complete years) | Pension factors | Lump sum factors |
Male | 0 | Table 1 | Table 9 |
Male | 1 | Table 2 | Table 10 |
Male | 2 | Table 3 | Table 11 |
Male | 3 or more | Table 4 | Table 12 |
Female | 0 | Table 5 | Table 13 |
Female | 1 | Table 6 | Table 14 |
Female | 2 | Table 7 | Table 15 |
Female | 3 or more | Table 8 | Table 16 |
Table 1 Pension valuation factors (PF) — males — less than 1 year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 9.9236 | 13.2510 | 13.2483 | 13.2455 | 17.6407 | | | | | | | |
31 | 9.8288 | 13.1385 | 13.1358 | 13.1328 | 17.5097 | 17.5068 | | | | | | |
32 | 9.7282 | 13.0206 | 13.0178 | 13.0148 | 17.3733 | 17.3704 | 17.3671 | | | | | |
33 | 9.6364 | 12.9058 | 12.9029 | 12.8998 | 17.2363 | 17.2333 | 17.2301 | 17.2264 | | | | |
34 | 9.5298 | 12.7803 | 12.7770 | 12.7737 | 17.0904 | 17.0874 | 17.0840 | 17.0803 | 18.1646 | | | |
35 | 9.4318 | 12.6576 | 12.6540 | 12.6503 | 16.9434 | 16.9403 | 16.9368 | 16.9330 | 18.0178 | 18.0137 | | |
36 | 9.3307 | 12.5308 | 12.5266 | 12.5225 | 16.7912 | 16.7879 | 16.7843 | 16.7805 | 17.8658 | 17.8615 | 17.8568 | |
37 | 9.2137 | 12.3922 | 12.3875 | 12.3828 | 16.6295 | 16.6258 | 16.6220 | 16.6179 | 17.7053 | 17.7010 | 17.6962 | 17.6909 |
38 | 9.0935 | 12.2494 | 12.2440 | 12.2386 | 16.4624 | 16.4583 | 16.4540 | 16.4498 | 17.5392 | 17.5348 | 17.5298 | 17.5244 |
39 | 9.0092 | 12.1257 | 12.1196 | 12.1135 | 16.3038 | 16.2991 | 16.2944 | 16.2896 | 17.3765 | 17.3719 | 17.3668 | 17.3613 |
40 | 8.8830 | 11.9748 | 11.9681 | 11.9613 | 16.1263 | 16.1210 | 16.1156 | 16.1103 | 17.1989 | 17.1941 | 17.1888 | 17.1831 |
41 | 8.7246 | 11.7859 | 11.7786 | 11.7710 | 15.9047 | 15.8986 | 15.8924 | 15.8864 | 16.9771 | 16.9717 | 16.9661 | 16.9602 |
42 | 8.6450 | 11.6406 | 11.6328 | 11.6246 | 15.7050 | 15.6983 | 15.6913 | 15.6845 | 16.7672 | 16.7612 | 16.7551 | 16.7489 |
43 | 8.5049 | 11.4563 | 11.4479 | 11.4389 | 15.4782 | 15.4708 | 15.4631 | 15.4552 | 16.5364 | 16.5296 | 16.5228 | 16.5159 |
44 | 8.3299 | 11.2478 | 11.2388 | 11.2291 | 15.2326 | 15.2246 | 15.2161 | 15.2074 | 16.2901 | 16.2825 | 16.2747 | 16.2670 |
45 | 8.2718 | 11.1047 | 11.0954 | 11.0854 | 15.0217 | 15.0130 | 15.0039 | 14.9943 | 16.0644 | 16.0557 | 16.0469 | 16.0382 |
46 | 8.0862 | 10.8820 | 10.8720 | 10.8613 | 14.7588 | 14.7495 | 14.7394 | 14.7290 | 15.8007 | 15.7911 | 15.7810 | 15.7711 |
47 | 8.0161 | 10.7236 | 10.7131 | 10.7018 | 14.5295 | 14.5198 | 14.5091 | 14.4978 | 15.5570 | 15.5464 | 15.5353 | 15.5240 |
48 | 7.9438 | 10.5595 | 10.5487 | 10.5369 | 14.2921 | 14.2821 | 14.2709 | 14.2587 | 15.3047 | 15.2933 | 15.2811 | 15.2685 |
49 | 7.7339 | 10.3097 | 10.2975 | 10.2847 | 13.9982 | 13.9873 | 13.9754 | 13.9625 | 15.0110 | 14.9985 | 14.9853 | 14.9713 |
50 | 7.5195 | 10.0535 | 10.0397 | 10.0252 | 13.6946 | 13.6830 | 13.6701 | 13.6563 | 14.7074 | 14.6940 | 14.6794 | 14.6642 |
51 | 7.6096 | 9.9320 | 9.9193 | 9.9049 | 13.4170 | 13.4055 | 13.3925 | 13.3783 | 14.3862 | 14.3726 | 14.3573 | 14.3411 |
52 | 7.2760 | 9.5506 | 9.5375 | 9.5221 | 12.9765 | 12.9637 | 12.9500 | 12.9348 | 13.9488 | 13.9346 | 13.9187 | 13.9012 |
53 | 6.9338 | 9.1575 | 9.1442 | 9.1282 | 12.5218 | 12.5078 | 12.4924 | 12.4763 | 13.4960 | 13.4809 | 13.4642 | 13.4458 |
54 | 7.4252 | 9.2590 | 9.2510 | 9.2395 | 12.3585 | 12.3463 | 12.3316 | 12.3154 | 13.2374 | 13.2225 | 13.2056 | 13.1871 |
55 | 7.3355 | 8.9966 | 8.9906 | 8.9811 | 11.9676 | 11.9562 | 11.9415 | 11.9244 | 12.8176 | 12.8025 | 12.7849 | 12.7654 |
56 | 7.0717 | 8.6905 | 8.6905 | 8.6807 | 11.6296 | 11.6178 | 11.6021 | 11.5834 | 12.4816 | 12.4643 | 12.4453 | 12.4241 |
57 | 7.6658 | 9.1394 | 9.1394 | 9.1394 | 11.7381 | 11.7306 | 11.7186 | 11.7027 | 12.4531 | 12.4360 | 12.4162 | 12.3950 |
58 | 7.3842 | 8.8160 | 8.8160 | 8.8160 | 11.3840 | 11.3765 | 11.3645 | 11.3478 | 12.1034 | 12.0848 | 12.0625 | 12.0381 |
59 | 7.0796 | 9.2600 | 9.2600 | 9.2600 | 11.4619 | 11.4619 | 11.4542 | 11.4418 | 12.0532 | 12.0364 | 12.0146 | 11.9892 |
60 | | 9.4750 | 9.4750 | 9.4750 | 11.5604 | 11.5604 | 11.5604 | 11.5527 | 12.0132 | 11.9988 | 11.9787 | 11.9536 |
61 | | 9.1034 | 9.1034 | 9.1034 | 11.1426 | 11.1426 | 11.1426 | 11.1426 | 11.6207 | 11.6063 | 11.5852 | 11.5584 |
62 | | 8.7197 | 8.7197 | 8.7197 | 10.7123 | 10.7123 | 10.7123 | 10.7123 | 11.2258 | 11.2113 | 11.1900 | 11.1618 |
63 | | | | | 11.8636 | 11.8636 | 11.8636 | 11.8636 | 11.8636 | 11.8636 | 11.8525 | 11.8341 |
64 | | | | | 11.3992 | 11.3992 | 11.3992 | 11.3992 | 11.3992 | 11.3992 | 11.3992 | 11.3802 |
65 | | | | | 10.9226 | 10.9226 | 10.9226 | 10.9226 | 10.9226 | 10.9226 | 10.9226 | 10.9226 |
66 | | | | | 10.4631 | 10.4631 | 10.4631 | 10.4631 | 10.4631 | 10.4631 | 10.4631 | 10.4631 |
67 | | | | | 10.0021 | 10.0021 | 10.0021 | 10.0021 | 10.0021 | 10.0021 | 10.0021 | 10.0021 |
68 | | | | | 9.5402 | 9.5402 | 9.5402 | 9.5402 | 9.5402 | 9.5402 | 9.5402 | 9.5402 |
69 | | | | | 9.0774 | 9.0774 | 9.0774 | 9.0774 | 9.0774 | 9.0774 | 9.0774 | 9.0774 |
70 | | | | | 8.6146 | 8.6146 | 8.6146 | 8.6146 | 8.6146 | 8.6146 | 8.6146 | 8.6146 |
Table 2 Pension valuation factors (PF) — males — 1 completed year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 10.2391 | 13.6672 | 13.6646 | 13.6617 | | | | | | | | |
31 | 10.1498 | 13.5583 | 13.5557 | 13.5527 | 18.0553 | | | | | | | |
32 | 10.0520 | 13.4425 | 13.4398 | 13.4367 | 17.9206 | 17.9177 | | | | | | |
33 | 9.9483 | 13.3211 | 13.3183 | 13.3152 | 17.7804 | 17.7774 | 17.7741 | | | | | |
34 | 9.8531 | 13.2026 | 13.1996 | 13.1964 | 17.6394 | 17.6364 | 17.6330 | 17.6293 | | | | |
35 | 9.7428 | 13.0731 | 13.0697 | 13.0663 | 17.4892 | 17.4861 | 17.4827 | 17.4789 | 18.5905 | | | |
36 | 9.6410 | 12.9462 | 12.9424 | 12.9387 | 17.3378 | 17.3346 | 17.3310 | 17.3272 | 18.4394 | 18.4351 | | |
37 | 9.5361 | 12.8152 | 12.8109 | 12.8067 | 17.1812 | 17.1778 | 17.1741 | 17.1701 | 18.2829 | 18.2786 | 18.2737 | |
38 | 9.4147 | 12.6719 | 12.6671 | 12.6623 | 17.0145 | 17.0108 | 17.0069 | 17.0027 | 18.1178 | 18.1134 | 18.1084 | 18.1084 |
39 | 9.2909 | 12.5251 | 12.5195 | 12.5140 | 16.8429 | 16.8387 | 16.8343 | 16.8300 | 17.9472 | 17.9426 | 17.9376 | 17.9376 |
40 | 9.2039 | 12.3978 | 12.3916 | 12.3853 | 16.6799 | 16.6751 | 16.6703 | 16.6654 | 17.7801 | 17.7754 | 17.7702 | 17.7702 |
41 | 9.0436 | 12.2082 | 12.2013 | 12.1943 | 16.4584 | 16.4529 | 16.4475 | 16.4420 | 17.5591 | 17.5541 | 17.5487 | 17.5487 |
42 | 8.8796 | 12.0130 | 12.0056 | 11.9978 | 16.2298 | 16.2236 | 16.2173 | 16.2112 | 17.3304 | 17.3249 | 17.3193 | 17.3193 |
43 | 8.7964 | 11.8625 | 11.8545 | 11.8462 | 16.0237 | 16.0168 | 16.0097 | 16.0027 | 17.1140 | 17.1079 | 17.1016 | 17.1016 |
44 | 8.6500 | 11.6712 | 11.6625 | 11.6534 | 15.7891 | 15.7817 | 15.7738 | 15.7658 | 16.8756 | 16.8687 | 16.8617 | 16.8617 |
45 | 8.4675 | 11.4547 | 11.4455 | 11.4356 | 15.5353 | 15.5271 | 15.5185 | 15.5095 | 16.6212 | 16.6134 | 16.6055 | 16.6055 |
46 | 8.4046 | 11.3049 | 11.2955 | 11.2853 | 15.3165 | 15.3078 | 15.2985 | 15.2887 | 16.3876 | 16.3787 | 16.3698 | 16.3698 |
47 | 8.2104 | 11.0734 | 11.0632 | 11.0523 | 15.0447 | 15.0352 | 15.0250 | 15.0144 | 16.1153 | 16.1054 | 16.0952 | 16.0952 |
48 | 8.1341 | 10.9073 | 10.8967 | 10.8852 | 14.8070 | 14.7972 | 14.7862 | 14.7747 | 15.8632 | 15.8524 | 15.8411 | 15.8411 |
49 | 8.0562 | 10.7358 | 10.7248 | 10.7128 | 14.5612 | 14.5510 | 14.5396 | 14.5272 | 15.6024 | 15.5908 | 15.5784 | 15.5784 |
50 | 7.8367 | 10.4761 | 10.4636 | 10.4506 | 14.2572 | 14.2462 | 14.2340 | 14.2209 | 15.2990 | 15.2863 | 15.2728 | 15.2728 |
51 | 7.5304 | 10.1173 | 10.1035 | 10.0889 | 13.8387 | 13.8270 | 13.8141 | 13.8002 | 14.8831 | 14.8695 | 14.8549 | 14.8549 |
52 | 7.6190 | 9.9886 | 9.9759 | 9.9615 | 13.5504 | 13.5390 | 13.5259 | 13.5116 | 14.5504 | 14.5368 | 14.5214 | 14.5214 |
53 | 7.2713 | 9.5923 | 9.5793 | 9.5638 | 13.0944 | 13.0817 | 13.0679 | 13.0526 | 14.0982 | 14.0840 | 14.0679 | 14.0679 |
54 | 6.9158 | 9.1849 | 9.1717 | 9.1557 | 12.6244 | 12.6105 | 12.5950 | 12.5788 | 13.6307 | 13.6156 | 13.5987 | 13.5987 |
55 | 7.4202 | 9.2873 | 9.2796 | 9.2682 | 12.4547 | 12.4427 | 12.4280 | 12.4118 | 13.3632 | 13.3484 | 13.3315 | 13.3315 |
56 | 7.4626 | 9.1714 | 9.1653 | 9.1556 | 12.2285 | 12.2169 | 12.2018 | 12.1842 | 13.1039 | 13.0884 | 13.0703 | 13.0703 |
57 | 7.1891 | 8.8555 | 8.8555 | 8.8454 | 11.8816 | 11.8695 | 11.8534 | 11.8342 | 12.7596 | 12.7419 | 12.7224 | 12.7224 |
58 | 7.7996 | 9.3174 | 9.3174 | 9.3174 | 11.9947 | 11.9871 | 11.9747 | 11.9584 | 12.7321 | 12.7146 | 12.6943 | 12.6943 |
59 | 7.5055 | 8.9820 | 8.9820 | 8.9820 | 11.6309 | 11.6232 | 11.6109 | 11.5938 | 12.3738 | 12.3548 | 12.3318 | 12.3318 |
60 | 7.1875 | 9.4395 | 9.4395 | 9.4395 | 11.7134 | 11.7134 | 11.7056 | 11.6929 | 12.3250 | 12.3077 | 12.2853 | 12.2853 |
61 | | 9.6631 | 9.6631 | 9.6631 | 11.8193 | 11.8193 | 11.8193 | 11.8114 | 12.2881 | 12.2734 | 12.2526 | 12.2526 |
62 | | 9.2830 | 9.2830 | 9.2830 | 11.3940 | 11.3940 | 11.3940 | 11.3940 | 11.8896 | 11.8748 | 11.8531 | 11.8531 |
63 | | 8.8911 | 8.8911 | 8.8911 | 10.9562 | 10.9562 | 10.9562 | 10.9562 | 11.4891 | 11.4742 | 11.4522 | 11.4522 |
64 | | | | | 12.1602 | 12.1602 | 12.1602 | 12.1602 | 12.1602 | 12.1602 | 12.1488 | 12.1488 |
65 | | | | | 11.6866 | 11.6866 | 11.6866 | 11.6866 | 11.6866 | 11.6866 | 11.6866 | 11.6866 |
66 | | | | | 11.2214 | 11.2214 | 11.2214 | 11.2214 | 11.2214 | 11.2214 | 11.2214 | 11.2214 |
67 | | | | | 10.7542 | 10.7542 | 10.7542 | 10.7542 | 10.7542 | 10.7542 | 10.7542 | 10.7542 |
68 | | | | | 10.2856 | 10.2856 | 10.2856 | 10.2856 | 10.2856 | 10.2856 | 10.2856 | 10.2856 |
69 | | | | | 9.8159 | 9.8159 | 9.8159 | 9.8159 | 9.8159 | 9.8159 | 9.8159 | 9.8159 |
70 | | | | | 9.3453 | 9.3453 | 9.3453 | 9.3453 | 9.3453 | 9.3453 | 9.3453 | 9.3453 |
Table 3 Pension valuation factors (PF) — males — 2 completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 10.5708 | 14.0982 | 14.0956 | | | | | | | | | |
31 | 10.4733 | 13.9849 | 13.9823 | 13.9793 | | | | | | | | |
32 | 10.3812 | 13.8729 | 13.8701 | 13.8671 | 18.4800 | | | | | | | |
33 | 10.2803 | 13.7536 | 13.7508 | 13.7477 | 18.3415 | 18.3386 | | | | | | |
34 | 10.1729 | 13.6283 | 13.6254 | 13.6222 | 18.1972 | 18.1942 | 18.1908 | | | | | |
35 | 10.0743 | 13.5060 | 13.5029 | 13.4996 | 18.0521 | 18.0490 | 18.0455 | 18.0418 | | | | |
36 | 9.9599 | 13.3721 | 13.3687 | 13.3652 | 17.8974 | 17.8943 | 17.8907 | 17.8868 | 19.0267 | | | |
37 | 9.8543 | 13.2411 | 13.2373 | 13.2334 | 17.7416 | 17.7383 | 17.7347 | 17.7307 | 18.8713 | 18.8669 | | |
38 | 9.7453 | 13.1057 | 13.1013 | 13.0970 | 17.5803 | 17.5768 | 17.5731 | 17.5690 | 18.7103 | 18.7059 | 18.7059 | |
39 | 9.6204 | 12.9584 | 12.9534 | 12.9485 | 17.4092 | 17.4053 | 17.4013 | 17.3971 | 18.5408 | 18.5362 | 18.5362 | 18.5362 |
40 | 9.4929 | 12.8074 | 12.8017 | 12.7961 | 17.2329 | 17.2286 | 17.2241 | 17.2196 | 18.3656 | 18.3610 | 18.3610 | 18.3610 |
41 | 9.3731 | 12.6423 | 12.6359 | 12.6295 | 17.0265 | 17.0216 | 17.0167 | 17.0117 | 18.1557 | 18.1508 | 18.1508 | 18.1508 |
42 | 9.2072 | 12.4464 | 12.4395 | 12.4323 | 16.7981 | 16.7925 | 16.7870 | 16.7814 | 17.9279 | 17.9229 | 17.9229 | 17.9229 |
43 | 9.0374 | 12.2448 | 12.2372 | 12.2293 | 16.5623 | 16.5560 | 16.5497 | 16.5433 | 17.6923 | 17.6867 | 17.6867 | 17.6867 |
44 | 8.9495 | 12.0883 | 12.0801 | 12.0716 | 16.3492 | 16.3422 | 16.3350 | 16.3279 | 17.4688 | 17.4626 | 17.4626 | 17.4626 |
45 | 8.7965 | 11.8895 | 11.8807 | 11.8715 | 16.1067 | 16.0991 | 16.0911 | 16.0829 | 17.2225 | 17.2155 | 17.2155 | 17.2155 |
46 | 8.6059 | 11.6645 | 11.6552 | 11.6451 | 15.8440 | 15.8358 | 15.8269 | 15.8178 | 16.9596 | 16.9517 | 16.9517 | 16.9517 |
47 | 8.5378 | 11.5080 | 11.4984 | 11.4880 | 15.6177 | 15.6088 | 15.5993 | 15.5894 | 16.7184 | 16.7093 | 16.7093 | 16.7093 |
48 | 8.3343 | 11.2671 | 11.2567 | 11.2456 | 15.3366 | 15.3269 | 15.3165 | 15.3056 | 16.4372 | 16.4271 | 16.4271 | 16.4271 |
49 | 8.2522 | 11.0935 | 11.0827 | 11.0710 | 15.0905 | 15.0805 | 15.0694 | 15.0576 | 16.1768 | 16.1658 | 16.1658 | 16.1658 |
50 | 8.1686 | 10.9145 | 10.9033 | 10.8910 | 14.8363 | 14.8258 | 14.8142 | 14.8016 | 15.9075 | 15.8957 | 15.8957 | 15.8957 |
51 | 7.8585 | 10.5535 | 10.5410 | 10.5279 | 14.4185 | 14.4074 | 14.3952 | 14.3819 | 15.4927 | 15.4799 | 15.4799 | 15.4799 |
52 | 7.5386 | 10.1804 | 10.1667 | 10.1520 | 13.9853 | 13.9736 | 13.9606 | 13.9465 | 15.0626 | 15.0490 | 15.0490 | 15.0490 |
53 | 7.6264 | 10.0449 | 10.0323 | 10.0179 | 13.6864 | 13.6750 | 13.6619 | 13.6475 | 14.7185 | 14.7048 | 14.7048 | 14.7048 |
54 | 7.2654 | 9.6344 | 9.6214 | 9.6060 | 13.2153 | 13.2026 | 13.1888 | 13.1734 | 14.2517 | 14.2375 | 14.2375 | 14.2375 |
55 | 6.8960 | 9.2123 | 9.1992 | 9.1831 | 12.7295 | 12.7157 | 12.7002 | 12.6839 | 13.7690 | 13.7539 | 13.7539 | 13.7539 |
56 | 7.5499 | 9.4709 | 9.4629 | 9.4513 | 12.7300 | 12.7177 | 12.7027 | 12.6860 | 13.6656 | 13.6504 | 13.6504 | 13.6504 |
57 | 7.5918 | 9.3510 | 9.3447 | 9.3347 | 12.4987 | 12.4867 | 12.4712 | 12.4532 | 13.4007 | 13.3848 | 13.3848 | 13.3848 |
58 | 7.3084 | 9.0249 | 9.0249 | 9.0147 | 12.1428 | 12.1303 | 12.1139 | 12.0941 | 13.0482 | 13.0301 | 13.0301 | 13.0301 |
59 | 7.9343 | 9.4997 | 9.4997 | 9.4997 | 12.2613 | 12.2535 | 12.2408 | 12.2241 | 13.0229 | 13.0049 | 13.0049 | 13.0049 |
60 | 7.6277 | 9.1525 | 9.1525 | 9.1525 | 11.8883 | 11.8804 | 11.8677 | 11.8501 | 12.6565 | 12.6370 | 12.6370 | 12.6370 |
61 | 7.2978 | 9.6267 | 9.6267 | 9.6267 | 11.9778 | 11.9778 | 11.9697 | 11.9567 | 12.6111 | 12.5933 | 12.5933 | 12.5933 |
62 | | 9.8635 | 9.8635 | 9.8635 | 12.0955 | 12.0955 | 12.0955 | 12.0874 | 12.5815 | 12.5664 | 12.5664 | 12.5664 |
63 | | 9.4760 | 9.4760 | 9.4760 | 11.6637 | 11.6637 | 11.6637 | 11.6637 | 12.1781 | 12.1629 | 12.1629 | 12.1629 |
64 | | 9.0759 | 9.0759 | 9.0759 | 11.2175 | 11.2175 | 11.2175 | 11.2175 | 11.7708 | 11.7555 | 11.7555 | 11.7555 |
65 | | | | | 12.4776 | 12.4776 | 12.4776 | 12.4776 | 12.4776 | 12.4776 | 12.4776 | 12.4776 |
66 | | | | | 12.0080 | 12.0080 | 12.0080 | 12.0080 | 12.0080 | 12.0080 | 12.0080 | 12.0080 |
67 | | | | | 11.5354 | 11.5354 | 11.5354 | 11.5354 | 11.5354 | 11.5354 | 11.5354 | 11.5354 |
68 | | | | | 11.0609 | 11.0609 | 11.0609 | 11.0609 | 11.0609 | 11.0609 | 11.0609 | 11.0609 |
69 | | | | | 10.5849 | 10.5849 | 10.5849 | 10.5849 | 10.5849 | 10.5849 | 10.5849 | 10.5849 |
70 | | | | | 10.1076 | 10.1076 | 10.1076 | 10.1076 | 10.1076 | 10.1076 | 10.1076 | 10.1076 |
Table 4 Pension valuation factors (PF) — males — 3 or more completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 10.9107 | 14.5395 | | | | | | | | | | |
31 | 10.8133 | 14.4267 | 14.4241 | | | | | | | | | |
32 | 10.7128 | 14.3102 | 14.3074 | 14.3044 | | | | | | | | |
33 | 10.6177 | 14.1948 | 14.1920 | 14.1889 | 18.9149 | | | | | | | |
34 | 10.5132 | 14.0716 | 14.0688 | 14.0656 | 18.7724 | 18.7694 | | | | | | |
35 | 10.4021 | 13.9424 | 13.9394 | 13.9362 | 18.6239 | 18.6208 | 18.6174 | | | | | |
36 | 10.2997 | 13.8160 | 13.8129 | 13.8095 | 18.4745 | 18.4714 | 18.4678 | 18.4639 | | | | |
37 | 10.1813 | 13.6779 | 13.6744 | 13.6708 | 18.3155 | 18.3122 | 18.3086 | 18.3046 | 19.4737 | | | |
38 | 10.0716 | 13.5425 | 13.5385 | 13.5346 | 18.1551 | 18.1517 | 18.1480 | 18.1439 | 19.3139 | 19.3139 | | |
39 | 9.9595 | 13.4032 | 13.3987 | 13.3943 | 17.9894 | 17.9858 | 17.9820 | 17.9778 | 19.1487 | 19.1487 | 19.1487 | |
40 | 9.8308 | 13.2518 | 13.2467 | 13.2417 | 17.8137 | 17.8097 | 17.8056 | 17.8013 | 18.9747 | 18.9747 | 18.9747 | 18.9747 |
41 | 9.6698 | 13.0627 | 13.0569 | 13.0511 | 17.5939 | 17.5895 | 17.5850 | 17.5804 | 18.7567 | 18.7567 | 18.7567 | 18.7567 |
42 | 9.5455 | 12.8920 | 12.8856 | 12.8790 | 17.3811 | 17.3761 | 17.3711 | 17.3660 | 18.5403 | 18.5403 | 18.5403 | 18.5403 |
43 | 9.3738 | 12.6898 | 12.6827 | 12.6754 | 17.1456 | 17.1400 | 17.1343 | 17.1286 | 18.3057 | 18.3057 | 18.3057 | 18.3057 |
44 | 9.1972 | 12.4808 | 12.4731 | 12.4650 | 16.9022 | 16.8957 | 16.8892 | 16.8828 | 18.0626 | 18.0626 | 18.0626 | 18.0626 |
45 | 9.1043 | 12.3179 | 12.3096 | 12.3009 | 16.6818 | 16.6747 | 16.6673 | 16.6600 | 17.8318 | 17.8318 | 17.8318 | 17.8318 |
46 | 8.9440 | 12.1112 | 12.1023 | 12.0928 | 16.4309 | 16.4232 | 16.4150 | 16.4067 | 17.5774 | 17.5774 | 17.5774 | 17.5774 |
47 | 8.7449 | 11.8775 | 11.8681 | 11.8578 | 16.1597 | 16.1512 | 16.1422 | 16.1329 | 17.3062 | 17.3062 | 17.3062 | 17.3062 |
48 | 8.6711 | 11.7139 | 11.7041 | 11.6935 | 15.9254 | 15.9164 | 15.9067 | 15.8965 | 17.0571 | 17.0571 | 17.0571 | 17.0571 |
49 | 8.4585 | 11.4636 | 11.4531 | 11.4417 | 15.6350 | 15.6252 | 15.6145 | 15.6035 | 16.7670 | 16.7670 | 16.7670 | 16.7670 |
50 | 8.3706 | 11.2826 | 11.2716 | 11.2596 | 15.3806 | 15.3704 | 15.3591 | 15.3470 | 16.4983 | 16.4983 | 16.4983 | 16.4983 |
51 | 8.2016 | 11.0058 | 10.9946 | 10.9823 | 15.0151 | 15.0046 | 14.9930 | 14.9802 | 16.1194 | 16.1194 | 16.1194 | 16.1194 |
52 | 7.8780 | 10.6308 | 10.6183 | 10.6052 | 14.5829 | 14.5718 | 14.5595 | 14.5461 | 15.6907 | 15.6907 | 15.6907 | 15.6907 |
53 | 7.5447 | 10.2435 | 10.2298 | 10.2150 | 14.1348 | 14.1232 | 14.1101 | 14.0959 | 15.2463 | 15.2463 | 15.2463 | 15.2463 |
54 | 7.6329 | 10.1021 | 10.0896 | 10.0751 | 13.8260 | 13.8146 | 13.8014 | 13.7870 | 14.8912 | 14.8912 | 14.8912 | 14.8912 |
55 | 7.2581 | 9.6769 | 9.6640 | 9.6486 | 13.3393 | 13.3267 | 13.3128 | 13.2974 | 14.4094 | 14.4094 | 14.4094 | 14.4094 |
56 | 7.0105 | 9.3938 | 9.3804 | 9.3639 | 13.0130 | 12.9989 | 12.9830 | 12.9663 | 14.0834 | 14.0834 | 14.0834 | 14.0834 |
57 | 7.6819 | 9.6596 | 9.6515 | 9.6395 | 13.0153 | 13.0027 | 12.9873 | 12.9702 | 13.9794 | 13.9794 | 13.9794 | 13.9794 |
58 | 7.7237 | 9.5359 | 9.5295 | 9.5192 | 12.7789 | 12.7667 | 12.7508 | 12.7323 | 13.7092 | 13.7092 | 13.7092 | 13.7092 |
59 | 7.4276 | 9.1980 | 9.1980 | 9.1875 | 12.4143 | 12.4015 | 12.3846 | 12.3643 | 13.3493 | 13.3493 | 13.3493 | 13.3493 |
60 | 8.0711 | 9.6876 | 9.6876 | 9.6876 | 12.5399 | 12.5318 | 12.5189 | 12.5016 | 13.3276 | 13.3276 | 13.3276 | 13.3276 |
61 | 7.7534 | 9.3299 | 9.3299 | 9.3299 | 12.1588 | 12.1507 | 12.1376 | 12.1195 | 12.9544 | 12.9544 | 12.9544 | 12.9544 |
62 | 7.4143 | 9.8256 | 9.8256 | 9.8256 | 12.2595 | 12.2595 | 12.2512 | 12.2378 | 12.9162 | 12.9162 | 12.9162 | 12.9162 |
63 | | 10.0788 | 10.0788 | 10.0788 | 12.3919 | 12.3919 | 12.3919 | 12.3836 | 12.8964 | 12.8964 | 12.8964 | 12.8964 |
64 | | 9.6837 | 9.6837 | 9.6837 | 11.9524 | 11.9524 | 11.9524 | 11.9524 | 12.4866 | 12.4866 | 12.4866 | 12.4866 |
65 | | 9.2752 | 9.2752 | 9.2752 | 11.4975 | 11.4975 | 11.4975 | 11.4975 | 12.0724 | 12.0724 | 12.0724 | 12.0724 |
66 | | | | | 12.8225 | 12.8225 | 12.8225 | 12.8225 | 12.8225 | 12.8225 | 12.8225 | 12.8225 |
67 | | | | | 12.3460 | 12.3460 | 12.3460 | 12.3460 | 12.3460 | 12.3460 | 12.3460 | 12.3460 |
68 | | | | | 11.8663 | 11.8663 | 11.8663 | 11.8663 | 11.8663 | 11.8663 | 11.8663 | 11.8663 |
69 | | | | | 11.3846 | 11.3846 | 11.3846 | 11.3846 | 11.3846 | 11.3846 | 11.3846 | 11.3846 |
70 | | | | | 10.9014 | 10.9014 | 10.9014 | 10.9014 | 10.9014 | 10.9014 | 10.9014 | 10.9014 |
Table 5 Pension valuation factors (PF) — females — less than 1 year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 9.8722 | 13.1968 | 13.1941 | 13.1913 | 17.5856 | | | | | | | |
31 | 9.7766 | 13.0821 | 13.0791 | 13.0761 | 17.4507 | 17.4483 | | | | | | |
32 | 9.6750 | 12.9622 | 12.9588 | 12.9554 | 17.3106 | 17.3078 | 17.3050 | | | | | |
33 | 9.5824 | 12.8459 | 12.8421 | 12.8383 | 17.1705 | 17.1674 | 17.1643 | 17.1611 | | | | |
34 | 9.4751 | 12.7188 | 12.7148 | 12.7106 | 17.0217 | 17.0183 | 17.0148 | 17.0113 | 18.0996 | | | |
35 | 9.3768 | 12.5948 | 12.5906 | 12.5861 | 16.8726 | 16.8688 | 16.8649 | 16.8610 | 17.9493 | 17.9457 | | |
36 | 9.2759 | 12.4671 | 12.4626 | 12.4578 | 16.7189 | 16.7147 | 16.7103 | 16.7059 | 17.7941 | 17.7901 | 17.7860 | |
37 | 9.1595 | 12.3280 | 12.3232 | 12.3181 | 16.5558 | 16.5514 | 16.5465 | 16.5416 | 17.6311 | 17.6266 | 17.6220 | 17.6174 |
38 | 9.0407 | 12.1855 | 12.1803 | 12.1749 | 16.3880 | 16.3833 | 16.3782 | 16.3727 | 17.4632 | 17.4582 | 17.4531 | 17.4479 |
39 | 8.9572 | 12.0617 | 12.0562 | 12.0504 | 16.2285 | 16.2235 | 16.2180 | 16.2122 | 17.2992 | 17.2937 | 17.2880 | 17.2822 |
40 | 8.8303 | 11.9099 | 11.9040 | 11.8977 | 16.0495 | 16.0441 | 16.0382 | 16.0321 | 17.1205 | 17.1143 | 17.1079 | 17.1015 |
41 | 8.6789 | 11.7299 | 11.7235 | 11.7167 | 15.8376 | 15.8318 | 15.8256 | 15.8190 | 16.9091 | 16.9026 | 16.8955 | 16.8883 |
42 | 8.6063 | 11.5935 | 11.5868 | 11.5796 | 15.6482 | 15.6420 | 15.6355 | 15.6285 | 16.7103 | 16.7034 | 16.6960 | 16.6880 |
43 | 8.4723 | 11.4173 | 11.4102 | 11.4026 | 15.4316 | 15.4251 | 15.4180 | 15.4106 | 16.4906 | 16.4833 | 16.4754 | 16.4670 |
44 | 8.3042 | 11.2180 | 11.2102 | 11.2021 | 15.1977 | 15.1907 | 15.1831 | 15.1750 | 16.2567 | 16.2489 | 16.2404 | 16.2315 |
45 | 8.2544 | 11.0860 | 11.0778 | 11.0691 | 15.0001 | 14.9928 | 14.9847 | 14.9761 | 16.0446 | 16.0364 | 16.0274 | 16.0179 |
46 | 8.0788 | 10.8764 | 10.8674 | 10.8578 | 14.7524 | 14.7447 | 14.7362 | 14.7269 | 15.7966 | 15.7877 | 15.7782 | 15.7680 |
47 | 8.0202 | 10.7337 | 10.7243 | 10.7141 | 14.5413 | 14.5330 | 14.5240 | 14.5143 | 15.5709 | 15.5615 | 15.5513 | 15.5405 |
48 | 7.9618 | 10.5887 | 10.5789 | 10.5681 | 14.3252 | 14.3163 | 14.3067 | 14.2964 | 15.3397 | 15.3297 | 15.3187 | 15.3071 |
49 | 7.7661 | 10.3588 | 10.3486 | 10.3368 | 14.0549 | 14.0452 | 14.0346 | 14.0233 | 15.0690 | 15.0584 | 15.0466 | 15.0341 |
50 | 7.5664 | 10.1230 | 10.1124 | 10.1001 | 13.7771 | 13.7666 | 13.7550 | 13.7426 | 14.7899 | 14.7788 | 14.7663 | 14.7528 |
51 | 7.7587 | 10.1175 | 10.1082 | 10.0969 | 13.6335 | 13.6230 | 13.6110 | 13.5981 | 14.5990 | 14.5871 | 14.5742 | 14.5600 |
52 | 7.5308 | 9.8585 | 9.8490 | 9.8374 | 13.3343 | 13.3234 | 13.3104 | 13.2962 | 14.3000 | 14.2870 | 14.2728 | 14.2577 |
53 | 7.2994 | 9.5944 | 9.5848 | 9.5730 | 13.0278 | 13.0166 | 13.0030 | 12.9875 | 13.9934 | 13.9792 | 13.9636 | 13.9470 |
54 | 7.9122 | 9.8334 | 9.8275 | 9.8191 | 13.0197 | 13.0102 | 12.9981 | 12.9837 | 13.8883 | 13.8739 | 13.8578 | 13.8403 |
55 | 7.9472 | 9.7159 | 9.7112 | 9.7038 | 12.7937 | 12.7848 | 12.7731 | 12.7588 | 13.6331 | 13.6180 | 13.6007 | 13.5819 |
56 | 7.6988 | 9.4336 | 9.4336 | 9.4258 | 12.4859 | 12.4770 | 12.4649 | 12.4500 | 13.3314 | 13.3156 | 13.2967 | 13.2760 |
57 | 8.3022 | 9.9008 | 9.9008 | 9.9008 | 12.6219 | 12.6161 | 12.6070 | 12.5947 | 13.3326 | 13.3181 | 13.3000 | 13.2789 |
58 | 8.0357 | 9.5999 | 9.5999 | 9.5999 | 12.2996 | 12.2937 | 12.2843 | 12.2718 | 13.0179 | 13.0030 | 12.9842 | 12.9619 |
59 | 7.7487 | 10.0699 | 10.0699 | 10.0699 | 12.4125 | 12.4125 | 12.4065 | 12.3968 | 13.0019 | 12.9889 | 12.9714 | 12.9500 |
60 | | 10.3045 | 10.3045 | 10.3045 | 12.5401 | 12.5401 | 12.5401 | 12.5340 | 12.9917 | 12.9808 | 12.9652 | 12.9452 |
61 | | 9.9606 | 9.9606 | 9.9606 | 12.1561 | 12.1561 | 12.1561 | 12.1561 | 12.6330 | 12.6218 | 12.6059 | 12.5852 |
62 | | 9.6046 | 9.6046 | 9.6046 | 11.7581 | 11.7581 | 11.7581 | 11.7581 | 12.2684 | 12.2569 | 12.2404 | 12.2191 |
63 | | | | | 12.9241 | 12.9241 | 12.9241 | 12.9241 | 12.9241 | 12.9241 | 12.9154 | 12.9012 |
64 | | | | | 12.4884 | 12.4884 | 12.4884 | 12.4884 | 12.4884 | 12.4884 | 12.4884 | 12.4734 |
65 | | | | | 12.0393 | 12.0393 | 12.0393 | 12.0393 | 12.0393 | 12.0393 | 12.0393 | 12.0393 |
66 | | | | | 11.5995 | 11.5995 | 11.5995 | 11.5995 | 11.5995 | 11.5995 | 11.5995 | 11.5995 |
67 | | | | | 11.1539 | 11.1539 | 11.1539 | 11.1539 | 11.1539 | 11.1539 | 11.1539 | 11.1539 |
68 | | | | | 10.7027 | 10.7027 | 10.7027 | 10.7027 | 10.7027 | 10.7027 | 10.7027 | 10.7027 |
69 | | | | | 10.2453 | 10.2453 | 10.2453 | 10.2453 | 10.2453 | 10.2453 | 10.2453 | 10.2453 |
70 | | | | | 9.7814 | 9.7814 | 9.7814 | 9.7814 | 9.7814 | 9.7814 | 9.7814 | 9.7814 |
Table 6 Pension valuation factors (PF) — females — 1 completed year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 10.1887 | 13.6147 | 13.6122 | 13.6097 | | | | | | | | |
31 | 10.0983 | 13.5034 | 13.5006 | 13.4978 | 17.9986 | | | | | | | |
32 | 9.9994 | 13.3851 | 13.3821 | 13.3789 | 17.8600 | 17.8574 | | | | | | |
33 | 9.8946 | 13.2618 | 13.2583 | 13.2548 | 17.7162 | 17.7134 | 17.7105 | | | | | |
34 | 9.7986 | 13.1417 | 13.1379 | 13.1340 | 17.5721 | 17.5689 | 17.5657 | 17.5625 | | | | |
35 | 9.6879 | 13.0109 | 13.0068 | 13.0025 | 17.4193 | 17.4158 | 17.4122 | 17.4086 | 18.5240 | | | |
36 | 9.5862 | 12.8830 | 12.8787 | 12.8741 | 17.2658 | 17.2619 | 17.2579 | 17.2539 | 18.3694 | 18.3657 | | |
37 | 9.4817 | 12.7512 | 12.7466 | 12.7418 | 17.1077 | 17.1034 | 17.0989 | 17.0944 | 18.2099 | 18.2058 | 18.2016 | |
38 | 9.3617 | 12.6081 | 12.6032 | 12.5980 | 16.9402 | 16.9356 | 16.9307 | 16.9257 | 18.0425 | 18.0379 | 18.0332 | 18.0332 |
39 | 9.2385 | 12.4609 | 12.4557 | 12.4501 | 16.7676 | 16.7627 | 16.7575 | 16.7519 | 17.8700 | 17.8648 | 17.8596 | 17.8596 |
40 | 9.1515 | 12.3329 | 12.3272 | 12.3213 | 16.6033 | 16.5982 | 16.5926 | 16.5866 | 17.7013 | 17.6956 | 17.6897 | 17.6897 |
41 | 8.9987 | 12.1521 | 12.1461 | 12.1396 | 16.3917 | 16.3862 | 16.3803 | 16.3740 | 17.4905 | 17.4842 | 17.4777 | 17.4777 |
42 | 8.8412 | 11.9659 | 11.9593 | 11.9524 | 16.1732 | 16.1674 | 16.1611 | 16.1543 | 17.2727 | 17.2661 | 17.2589 | 17.2589 |
43 | 8.7645 | 11.8240 | 11.8172 | 11.8098 | 15.9776 | 15.9714 | 15.9647 | 15.9575 | 17.0677 | 17.0607 | 17.0530 | 17.0530 |
44 | 8.6256 | 11.6421 | 11.6349 | 11.6271 | 15.7548 | 15.7481 | 15.7409 | 15.7333 | 16.8418 | 16.8343 | 16.8262 | 16.8262 |
45 | 8.4516 | 11.4365 | 11.4286 | 11.4203 | 15.5141 | 15.5069 | 15.4992 | 15.4909 | 16.6011 | 16.5931 | 16.5845 | 16.5845 |
46 | 8.3990 | 11.2999 | 11.2915 | 11.2826 | 15.3107 | 15.3032 | 15.2950 | 15.2862 | 16.3830 | 16.3746 | 16.3655 | 16.3655 |
47 | 8.2174 | 11.0839 | 11.0748 | 11.0650 | 15.0564 | 15.0485 | 15.0398 | 15.0303 | 16.1286 | 16.1196 | 16.1099 | 16.1099 |
48 | 8.1559 | 10.9367 | 10.9271 | 10.9167 | 14.8395 | 14.8310 | 14.8219 | 14.8119 | 15.8971 | 15.8874 | 15.8770 | 15.8770 |
49 | 8.0938 | 10.7862 | 10.7762 | 10.7652 | 14.6168 | 14.6078 | 14.5979 | 14.5875 | 15.6590 | 15.6488 | 15.6376 | 15.6376 |
50 | 7.8906 | 10.5484 | 10.5379 | 10.5260 | 14.3382 | 14.3283 | 14.3175 | 14.3060 | 15.3802 | 15.3694 | 15.3574 | 15.3574 |
51 | 7.6830 | 10.3043 | 10.2935 | 10.2810 | 14.0519 | 14.0412 | 14.0294 | 14.0167 | 15.0929 | 15.0815 | 15.0688 | 15.0688 |
52 | 7.8788 | 10.2974 | 10.2880 | 10.2765 | 13.9040 | 13.8932 | 13.8811 | 13.8678 | 14.8967 | 14.8845 | 14.8713 | 14.8713 |
53 | 7.6427 | 10.0299 | 10.0203 | 10.0085 | 13.5960 | 13.5848 | 13.5716 | 13.5571 | 14.5891 | 14.5758 | 14.5613 | 14.5613 |
54 | 7.4021 | 9.7569 | 9.7472 | 9.7351 | 13.2810 | 13.2696 | 13.2557 | 13.2399 | 14.2745 | 14.2600 | 14.2441 | 14.2441 |
55 | 8.0300 | 10.0013 | 9.9953 | 9.9867 | 13.2729 | 13.2633 | 13.2510 | 13.2362 | 14.1671 | 14.1525 | 14.1360 | 14.1360 |
56 | 8.0927 | 9.9120 | 9.9072 | 9.8997 | 13.0786 | 13.0696 | 13.0576 | 13.0428 | 13.9428 | 13.9273 | 13.9096 | 13.9096 |
57 | 7.8348 | 9.6205 | 9.6205 | 9.6126 | 12.7631 | 12.7539 | 12.7415 | 12.7262 | 13.6341 | 13.6179 | 13.5985 | 13.5985 |
58 | 8.4547 | 10.1014 | 10.1014 | 10.1014 | 12.9050 | 12.8990 | 12.8897 | 12.8771 | 13.6378 | 13.6228 | 13.6042 | 13.6042 |
59 | 8.1792 | 9.7912 | 9.7912 | 9.7912 | 12.5741 | 12.5680 | 12.5584 | 12.5455 | 13.3151 | 13.2998 | 13.2804 | 13.2804 |
60 | 7.8828 | 10.2770 | 10.2770 | 10.2770 | 12.6926 | 12.6926 | 12.6864 | 12.6765 | 13.3009 | 13.2875 | 13.2696 | 13.2696 |
61 | | 10.5203 | 10.5203 | 10.5203 | 12.8265 | 12.8265 | 12.8265 | 12.8203 | 13.2928 | 13.2817 | 13.2656 | 13.2656 |
62 | | 10.1677 | 10.1677 | 10.1677 | 12.4337 | 12.4337 | 12.4337 | 12.4337 | 12.9263 | 12.9148 | 12.8984 | 12.8984 |
63 | | 9.8025 | 9.8025 | 9.8025 | 12.0262 | 12.0262 | 12.0262 | 12.0262 | 12.5535 | 12.5417 | 12.5247 | 12.5247 |
64 | | | | | 13.2359 | 13.2359 | 13.2359 | 13.2359 | 13.2359 | 13.2359 | 13.2270 | 13.2270 |
65 | | | | | 12.7902 | 12.7902 | 12.7902 | 12.7902 | 12.7902 | 12.7902 | 12.7902 | 12.7902 |
66 | | | | | 12.3478 | 12.3478 | 12.3478 | 12.3478 | 12.3478 | 12.3478 | 12.3478 | 12.3478 |
67 | | | | | 11.8994 | 11.8994 | 11.8994 | 11.8994 | 11.8994 | 11.8994 | 11.8994 | 11.8994 |
68 | | | | | 11.4454 | 11.4454 | 11.4454 | 11.4454 | 11.4454 | 11.4454 | 11.4454 | 11.4454 |
69 | | | | | 10.9856 | 10.9856 | 10.9856 | 10.9856 | 10.9856 | 10.9856 | 10.9856 | 10.9856 |
70 | | | | | 10.5198 | 10.5198 | 10.5198 | 10.5198 | 10.5198 | 10.5198 | 10.5198 | 10.5198 |
Table 7 Pension valuation factors (PF) — females — 2 completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 10.5217 | 14.0477 | 14.0454 | | | | | | | | | |
31 | 10.4227 | 13.9316 | 13.9290 | 13.9264 | | | | | | | | |
32 | 10.3291 | 13.8168 | 13.8139 | 13.8111 | 18.4214 | | | | | | | |
33 | 10.2270 | 13.6952 | 13.6920 | 13.6888 | 18.2792 | 18.2766 | | | | | | |
34 | 10.1186 | 13.5679 | 13.5644 | 13.5609 | 18.1314 | 18.1285 | 18.1255 | | | | | |
35 | 10.0195 | 13.4443 | 13.4404 | 13.4364 | 17.9833 | 17.9801 | 17.9768 | 17.9735 | | | | |
36 | 9.9051 | 13.3094 | 13.3053 | 13.3008 | 17.8261 | 17.8226 | 17.8189 | 17.8152 | 18.9586 | | | |
37 | 9.7998 | 13.1776 | 13.1732 | 13.1684 | 17.6684 | 17.6644 | 17.6603 | 17.6562 | 18.7998 | 18.7960 | | |
38 | 9.6920 | 13.0420 | 13.0373 | 13.0323 | 17.5059 | 17.5015 | 17.4970 | 17.4924 | 18.6360 | 18.6318 | 18.6318 | |
39 | 9.5676 | 12.8943 | 12.8892 | 12.8839 | 17.3337 | 17.3290 | 17.3240 | 17.3188 | 18.4640 | 18.4593 | 18.4593 | 18.4593 |
40 | 9.4399 | 12.7423 | 12.7369 | 12.7312 | 17.1561 | 17.1511 | 17.1458 | 17.1400 | 18.2867 | 18.2814 | 18.2814 | 18.2814 |
41 | 9.3282 | 12.5861 | 12.5803 | 12.5742 | 16.9599 | 16.9547 | 16.9490 | 16.9429 | 18.0865 | 18.0807 | 18.0807 | 18.0807 |
42 | 9.1695 | 12.3991 | 12.3929 | 12.3863 | 16.7419 | 16.7362 | 16.7302 | 16.7237 | 17.8694 | 17.8630 | 17.8630 | 17.8630 |
43 | 9.0058 | 12.2062 | 12.1995 | 12.1924 | 16.5165 | 16.5105 | 16.5041 | 16.4972 | 17.6450 | 17.6382 | 17.6382 | 17.6382 |
44 | 8.9257 | 12.0596 | 12.0526 | 12.0451 | 16.3152 | 16.3088 | 16.3020 | 16.2947 | 17.4341 | 17.4270 | 17.4270 | 17.4270 |
45 | 8.7817 | 11.8719 | 11.8646 | 11.8566 | 16.0859 | 16.0791 | 16.0717 | 16.0640 | 17.2018 | 17.1941 | 17.1941 | 17.1941 |
46 | 8.6016 | 11.6598 | 11.6517 | 11.6433 | 15.8383 | 15.8310 | 15.8231 | 15.8147 | 16.9544 | 16.9463 | 16.9463 | 16.9463 |
47 | 8.5464 | 11.5189 | 11.5104 | 11.5013 | 15.6296 | 15.6220 | 15.6136 | 15.6046 | 16.7307 | 16.7222 | 16.7222 | 16.7222 |
48 | 8.3587 | 11.2965 | 11.2872 | 11.2772 | 15.3685 | 15.3605 | 15.3516 | 15.3419 | 16.4698 | 16.4606 | 16.4606 | 16.4606 |
49 | 8.2935 | 11.1438 | 11.1340 | 11.1234 | 15.1451 | 15.1364 | 15.1271 | 15.1170 | 16.2315 | 16.2217 | 16.2217 | 16.2217 |
50 | 8.2276 | 10.9876 | 10.9774 | 10.9662 | 14.9155 | 14.9063 | 14.8962 | 14.8856 | 15.9864 | 15.9760 | 15.9760 | 15.9760 |
51 | 8.0165 | 10.7416 | 10.7310 | 10.7188 | 14.6284 | 14.6184 | 14.6074 | 14.5956 | 15.6995 | 15.6884 | 15.6884 | 15.6884 |
52 | 7.8014 | 10.4897 | 10.4787 | 10.4659 | 14.3340 | 14.3232 | 14.3111 | 14.2981 | 15.4043 | 15.3926 | 15.3926 | 15.3926 |
53 | 8.0009 | 10.4814 | 10.4718 | 10.4601 | 14.1817 | 14.1707 | 14.1583 | 14.1448 | 15.2025 | 15.1901 | 15.1901 | 15.1901 |
54 | 7.7556 | 10.2051 | 10.1953 | 10.1833 | 13.8654 | 13.8540 | 13.8405 | 13.8258 | 14.8872 | 14.8737 | 14.8737 | 14.8737 |
55 | 7.5054 | 9.9228 | 9.9130 | 9.9006 | 13.5419 | 13.5302 | 13.5161 | 13.5000 | 14.5645 | 14.5498 | 14.5498 | 14.5498 |
56 | 8.1780 | 10.2059 | 10.1997 | 10.1910 | 13.5719 | 13.5621 | 13.5494 | 13.5343 | 14.4924 | 14.4774 | 14.4774 | 14.4774 |
57 | 8.2406 | 10.1134 | 10.1086 | 10.1008 | 13.3737 | 13.3644 | 13.3520 | 13.3369 | 14.2639 | 14.2479 | 14.2479 | 14.2479 |
58 | 7.9729 | 9.8125 | 9.8125 | 9.8044 | 13.0505 | 13.0411 | 13.0283 | 13.0126 | 13.9485 | 13.9318 | 13.9318 | 13.9318 |
59 | 8.6115 | 10.3086 | 10.3086 | 10.3086 | 13.1985 | 13.1924 | 13.1829 | 13.1699 | 13.9544 | 13.9390 | 13.9390 | 13.9390 |
60 | 8.3272 | 9.9894 | 9.9894 | 9.9894 | 12.8593 | 12.8531 | 12.8432 | 12.8299 | 13.6240 | 13.6082 | 13.6082 | 13.6082 |
61 | 8.0214 | 10.4920 | 10.4920 | 10.4920 | 12.9839 | 12.9839 | 12.9776 | 12.9675 | 13.6120 | 13.5982 | 13.5982 | 13.5982 |
62 | | 10.7460 | 10.7460 | 10.7460 | 13.1263 | 13.1263 | 13.1263 | 13.1199 | 13.6078 | 13.5964 | 13.5964 | 13.5964 |
63 | | 10.3847 | 10.3847 | 10.3847 | 12.7245 | 12.7245 | 12.7245 | 12.7245 | 13.2333 | 13.2216 | 13.2216 | 13.2216 |
64 | | 10.0098 | 10.0098 | 10.0098 | 12.3075 | 12.3075 | 12.3075 | 12.3075 | 12.8525 | 12.8405 | 12.8405 | 12.8405 |
65 | | | | | 13.5635 | 13.5635 | 13.5635 | 13.5635 | 13.5635 | 13.5635 | 13.5635 | 13.5635 |
66 | | | | | 13.1185 | 13.1185 | 13.1185 | 13.1185 | 13.1185 | 13.1185 | 13.1185 | 13.1185 |
67 | | | | | 12.6676 | 12.6676 | 12.6676 | 12.6676 | 12.6676 | 12.6676 | 12.6676 | 12.6676 |
68 | | | | | 12.2109 | 12.2109 | 12.2109 | 12.2109 | 12.2109 | 12.2109 | 12.2109 | 12.2109 |
69 | | | | | 11.7483 | 11.7483 | 11.7483 | 11.7483 | 11.7483 | 11.7483 | 11.7483 | 11.7483 |
70 | | | | | 11.2803 | 11.2803 | 11.2803 | 11.2803 | 11.2803 | 11.2803 | 11.2803 | 11.2803 |
Table 8 Pension valuation factors (PF) — females — 3 or more completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 10.8632 | 14.4913 | | | | | | | | | | |
31 | 10.7638 | 14.3752 | 14.3729 | | | | | | | | | |
32 | 10.6615 | 14.2556 | 14.2530 | 14.2503 | | | | | | | | |
33 | 10.5649 | 14.1375 | 14.1346 | 14.1317 | 18.8546 | | | | | | | |
34 | 10.4593 | 14.0122 | 14.0089 | 14.0056 | 18.7084 | 18.7057 | | | | | | |
35 | 10.3475 | 13.8812 | 13.8776 | 13.8739 | 18.5566 | 18.5536 | 18.5506 | | | | | |
36 | 10.2450 | 13.7537 | 13.7497 | 13.7457 | 18.4043 | 18.4010 | 18.3976 | 18.3942 | | | | |
37 | 10.1267 | 13.6147 | 13.6104 | 13.6059 | 18.2428 | 18.2391 | 18.2354 | 18.2316 | 19.4039 | | | |
38 | 10.0181 | 13.4790 | 13.4745 | 13.4697 | 18.0808 | 18.0767 | 18.0725 | 18.0683 | 19.2409 | 19.2409 | | |
39 | 9.9063 | 13.3391 | 13.3342 | 13.3291 | 17.9138 | 17.9093 | 17.9046 | 17.8999 | 19.0727 | 19.0727 | 19.0727 | |
40 | 9.7774 | 13.1866 | 13.1814 | 13.1760 | 17.7367 | 17.7319 | 17.7267 | 17.7214 | 18.8960 | 18.8960 | 18.8960 | 18.8960 |
41 | 9.6242 | 13.0061 | 13.0006 | 12.9947 | 17.5270 | 17.5220 | 17.5165 | 17.5106 | 18.6871 | 18.6871 | 18.6871 | 18.6871 |
42 | 9.5077 | 12.8444 | 12.8385 | 12.8323 | 17.3249 | 17.3195 | 17.3137 | 17.3075 | 18.4810 | 18.4810 | 18.4810 | 18.4810 |
43 | 9.3427 | 12.6508 | 12.6445 | 12.6378 | 17.1000 | 17.0943 | 17.0881 | 17.0815 | 18.2574 | 18.2574 | 18.2574 | 18.2574 |
44 | 9.1734 | 12.4520 | 12.4451 | 12.4379 | 16.8682 | 16.8622 | 16.8556 | 16.8485 | 18.0267 | 18.0267 | 18.0267 | 18.0267 |
45 | 9.0899 | 12.3005 | 12.2934 | 12.2858 | 16.6611 | 16.6546 | 16.6477 | 16.6402 | 17.8099 | 17.8099 | 17.8099 | 17.8099 |
46 | 8.9407 | 12.1069 | 12.0994 | 12.0913 | 16.4253 | 16.4184 | 16.4109 | 16.4030 | 17.5711 | 17.5711 | 17.5711 | 17.5711 |
47 | 8.7546 | 11.8885 | 11.8803 | 11.8717 | 16.1713 | 16.1639 | 16.1558 | 16.1472 | 17.3175 | 17.3175 | 17.3175 | 17.3175 |
48 | 8.6969 | 11.7433 | 11.7346 | 11.7254 | 15.9571 | 15.9494 | 15.9409 | 15.9317 | 17.0882 | 17.0882 | 17.0882 | 17.0882 |
49 | 8.5021 | 11.5136 | 11.5040 | 11.4939 | 15.6885 | 15.6803 | 15.6712 | 15.6614 | 16.8198 | 16.8198 | 16.8198 | 16.8198 |
50 | 8.4329 | 11.3551 | 11.3451 | 11.3343 | 15.4582 | 15.4494 | 15.4399 | 15.4295 | 16.5745 | 16.5745 | 16.5745 | 16.5745 |
51 | 8.3631 | 11.1932 | 11.1828 | 11.1714 | 15.2217 | 15.2123 | 15.2020 | 15.1912 | 16.3222 | 16.3222 | 16.3222 | 16.3222 |
52 | 8.1445 | 10.9394 | 10.9286 | 10.9161 | 14.9266 | 14.9164 | 14.9051 | 14.8931 | 16.0276 | 16.0276 | 16.0276 | 16.0276 |
53 | 7.9216 | 10.6793 | 10.6681 | 10.6551 | 14.6238 | 14.6127 | 14.6004 | 14.5872 | 15.7242 | 15.7242 | 15.7242 | 15.7242 |
54 | 8.1244 | 10.6697 | 10.6599 | 10.6480 | 14.4678 | 14.4567 | 14.4441 | 14.4302 | 15.5179 | 15.5179 | 15.5179 | 15.5179 |
55 | 7.8696 | 10.3843 | 10.3744 | 10.3621 | 14.1433 | 14.1317 | 14.1179 | 14.1028 | 15.1949 | 15.1949 | 15.1949 | 15.1949 |
56 | 7.6380 | 10.1252 | 10.1151 | 10.1024 | 13.8488 | 13.8368 | 13.8223 | 13.8058 | 14.9015 | 14.9015 | 14.9015 | 14.9015 |
57 | 8.3286 | 10.4162 | 10.4100 | 10.4010 | 13.8818 | 13.8717 | 13.8587 | 13.8431 | 14.8300 | 14.8300 | 14.8300 | 14.8300 |
58 | 8.3914 | 10.3208 | 10.3158 | 10.3078 | 13.6800 | 13.6704 | 13.6577 | 13.6422 | 14.5976 | 14.5976 | 14.5976 | 14.5976 |
59 | 8.1145 | 10.0107 | 10.0107 | 10.0023 | 13.3486 | 13.3389 | 13.3258 | 13.3096 | 14.2748 | 14.2748 | 14.2748 | 14.2748 |
60 | 8.7734 | 10.5234 | 10.5234 | 10.5234 | 13.5037 | 13.4974 | 13.4876 | 13.4743 | 14.2836 | 14.2836 | 14.2836 | 14.2836 |
61 | 8.4803 | 10.1950 | 10.1950 | 10.1950 | 13.1559 | 13.1496 | 13.1394 | 13.1258 | 13.9454 | 13.9454 | 13.9454 | 13.9454 |
62 | 8.1661 | 10.7168 | 10.7168 | 10.7168 | 13.2887 | 13.2887 | 13.2823 | 13.2719 | 13.9374 | 13.9374 | 13.9374 | 13.9374 |
63 | | 10.9824 | 10.9824 | 10.9824 | 13.4401 | 13.4401 | 13.4401 | 13.4336 | 13.9376 | 13.9376 | 13.9376 | 13.9376 |
64 | | 10.6119 | 10.6119 | 10.6119 | 13.0295 | 13.0295 | 13.0295 | 13.0295 | 13.5555 | 13.5555 | 13.5555 | 13.5555 |
65 | | 10.2276 | 10.2276 | 10.2276 | 12.6031 | 12.6031 | 12.6031 | 12.6031 | 13.1668 | 13.1668 | 13.1668 | 13.1668 |
66 | | | | | 13.9122 | 13.9122 | 13.9122 | 13.9122 | 13.9122 | 13.9122 | 13.9122 | 13.9122 |
67 | | | | | 13.4589 | 13.4589 | 13.4589 | 13.4589 | 13.4589 | 13.4589 | 13.4589 | 13.4589 |
68 | | | | | 12.9997 | 12.9997 | 12.9997 | 12.9997 | 12.9997 | 12.9997 | 12.9997 | 12.9997 |
69 | | | | | 12.5346 | 12.5346 | 12.5346 | 12.5346 | 12.5346 | 12.5346 | 12.5346 | 12.5346 |
70 | | | | | 12.0640 | 12.0640 | 12.0640 | 12.0640 | 12.0640 | 12.0640 | 12.0640 | 12.0640 |
Table 9 Lump sum valuation factors (LSF) — males — less than 1 year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.200871 | 0.121648 | 0.121648 | 0.121649 | 0.001354 | | | | | | | |
31 | 0.200883 | 0.121686 | 0.121686 | 0.121686 | 0.001396 | 0.001397 | | | | | | |
32 | 0.200905 | 0.121729 | 0.121729 | 0.121729 | 0.001444 | 0.001444 | 0.001445 | | | | | |
33 | 0.200921 | 0.121768 | 0.121768 | 0.121769 | 0.001494 | 0.001494 | 0.001495 | 0.001495 | | | | |
34 | 0.200963 | 0.121823 | 0.121823 | 0.121824 | 0.001557 | 0.001558 | 0.001558 | 0.001558 | 0.001337 | | | |
35 | 0.201009 | 0.121883 | 0.121883 | 0.121884 | 0.001628 | 0.001629 | 0.001629 | 0.001630 | 0.001393 | 0.001393 | | |
36 | 0.201074 | 0.121962 | 0.121963 | 0.121963 | 0.001710 | 0.001710 | 0.001711 | 0.001711 | 0.001457 | 0.001457 | 0.001458 | |
37 | 0.201173 | 0.122070 | 0.122071 | 0.122072 | 0.001806 | 0.001807 | 0.001807 | 0.001808 | 0.001531 | 0.001531 | 0.001532 | 0.001533 |
38 | 0.201299 | 0.122205 | 0.122206 | 0.122207 | 0.001917 | 0.001918 | 0.001918 | 0.001919 | 0.001617 | 0.001617 | 0.001618 | 0.001619 |
39 | 0.201391 | 0.122335 | 0.122337 | 0.122339 | 0.002037 | 0.002038 | 0.002039 | 0.002040 | 0.001714 | 0.001715 | 0.001716 | 0.001717 |
40 | 0.201539 | 0.122519 | 0.122521 | 0.122523 | 0.002199 | 0.002200 | 0.002202 | 0.002203 | 0.001845 | 0.001846 | 0.001847 | 0.001848 |
41 | 0.201817 | 0.122823 | 0.122826 | 0.122829 | 0.002463 | 0.002465 | 0.002466 | 0.002468 | 0.002053 | 0.002054 | 0.002056 | 0.002057 |
42 | 0.202011 | 0.123096 | 0.123099 | 0.123102 | 0.002720 | 0.002722 | 0.002724 | 0.002726 | 0.002258 | 0.002259 | 0.002261 | 0.002263 |
43 | 0.202327 | 0.123458 | 0.123462 | 0.123466 | 0.003047 | 0.003050 | 0.003053 | 0.003056 | 0.002515 | 0.002517 | 0.002519 | 0.002522 |
44 | 0.202721 | 0.123887 | 0.123892 | 0.123898 | 0.003438 | 0.003442 | 0.003445 | 0.003449 | 0.002822 | 0.002825 | 0.002828 | 0.002831 |
45 | 0.202930 | 0.124235 | 0.124241 | 0.124248 | 0.003808 | 0.003813 | 0.003817 | 0.003822 | 0.003125 | 0.003128 | 0.003132 | 0.003136 |
46 | 0.203463 | 0.124811 | 0.124819 | 0.124827 | 0.004340 | 0.004346 | 0.004352 | 0.004358 | 0.003546 | 0.003551 | 0.003556 | 0.003561 |
47 | 0.203922 | 0.125372 | 0.125382 | 0.125392 | 0.004876 | 0.004883 | 0.004890 | 0.004898 | 0.003972 | 0.003977 | 0.003984 | 0.003990 |
48 | 0.204276 | 0.125912 | 0.125924 | 0.125936 | 0.005415 | 0.005423 | 0.005432 | 0.005441 | 0.004410 | 0.004418 | 0.004425 | 0.004434 |
49 | 0.205106 | 0.126786 | 0.126802 | 0.126818 | 0.006188 | 0.006199 | 0.006211 | 0.006223 | 0.005021 | 0.005030 | 0.005040 | 0.005051 |
50 | 0.206093 | 0.127824 | 0.127847 | 0.127869 | 0.007100 | 0.007115 | 0.007130 | 0.007145 | 0.005741 | 0.005753 | 0.005766 | 0.005780 |
51 | 0.206567 | 0.128787 | 0.128811 | 0.128838 | 0.008087 | 0.008104 | 0.008122 | 0.008141 | 0.006549 | 0.006564 | 0.006580 | 0.006598 |
52 | 0.208420 | 0.130709 | 0.130740 | 0.130776 | 0.009699 | 0.009723 | 0.009749 | 0.009775 | 0.007791 | 0.007811 | 0.007832 | 0.007856 |
53 | 0.210589 | 0.132973 | 0.133013 | 0.133060 | 0.011600 | 0.011635 | 0.011671 | 0.011707 | 0.009260 | 0.009287 | 0.009316 | 0.009346 |
54 | 0.209647 | 0.133548 | 0.133575 | 0.133614 | 0.012604 | 0.012641 | 0.012682 | 0.012726 | 0.010148 | 0.010180 | 0.010215 | 0.010251 |
55 | 0.211428 | 0.135968 | 0.135997 | 0.136040 | 0.014888 | 0.014933 | 0.014987 | 0.015046 | 0.011983 | 0.012026 | 0.012072 | 0.012120 |
56 | 0.213080 | 0.138126 | 0.138126 | 0.138175 | 0.016987 | 0.017039 | 0.017105 | 0.017179 | 0.013721 | 0.013778 | 0.013836 | 0.013897 |
57 | 0.209807 | 0.135958 | 0.135958 | 0.135958 | 0.016620 | 0.016653 | 0.016704 | 0.016768 | 0.013799 | 0.013859 | 0.013925 | 0.013991 |
58 | 0.211436 | 0.138130 | 0.138130 | 0.138130 | 0.018981 | 0.019019 | 0.019076 | 0.019151 | 0.015853 | 0.015929 | 0.016014 | 0.016103 |
59 | 0.214078 | 0.137357 | 0.137357 | 0.137357 | 0.019719 | 0.019719 | 0.019765 | 0.019832 | 0.016831 | 0.016912 | 0.017010 | 0.017117 |
60 | | 0.135281 | 0.135281 | 0.135281 | 0.018469 | 0.018469 | 0.018469 | 0.018506 | 0.016484 | 0.016554 | 0.016649 | 0.016762 |
61 | | 0.137430 | 0.137430 | 0.137430 | 0.020889 | 0.020889 | 0.020889 | 0.020889 | 0.018657 | 0.018737 | 0.018848 | 0.018986 |
62 | | 0.139733 | 0.139733 | 0.139733 | 0.023396 | 0.023396 | 0.023396 | 0.023396 | 0.020831 | 0.020921 | 0.021047 | 0.021209 |
63 | | | | | 0.015247 | 0.015247 | 0.015247 | 0.015247 | 0.015247 | 0.015247 | 0.015313 | 0.015419 |
64 | | | | | 0.016917 | 0.016917 | 0.016917 | 0.016917 | 0.016917 | 0.016917 | 0.016917 | 0.017038 |
65 | | | | | 0.018868 | 0.018868 | 0.018868 | 0.018868 | 0.018868 | 0.018868 | 0.018868 | 0.018868 |
66 | | | | | 0.020852 | 0.020852 | 0.020852 | 0.020852 | 0.020852 | 0.020852 | 0.020852 | 0.020852 |
67 | | | | | 0.022995 | 0.022995 | 0.022995 | 0.022995 | 0.022995 | 0.022995 | 0.022995 | 0.022995 |
68 | | | | | 0.025315 | 0.025315 | 0.025315 | 0.025315 | 0.025315 | 0.025315 | 0.025315 | 0.025315 |
69 | | | | | 0.027836 | 0.027836 | 0.027836 | 0.027836 | 0.027836 | 0.027836 | 0.027836 | 0.027836 |
70 | | | | | 0.030557 | 0.030557 | 0.030557 | 0.030557 | 0.030557 | 0.030557 | 0.030557 | 0.030557 |
Table 10 Lump sum valuation factors (LSF) — males — 1 completed year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.213904 | 0.129455 | 0.129455 | 0.129455 | | | | | | | | |
31 | 0.213919 | 0.129492 | 0.129492 | 0.129493 | 0.001292 | | | | | | | |
32 | 0.213938 | 0.129535 | 0.129535 | 0.129535 | 0.001334 | 0.001334 | | | | | | |
33 | 0.213968 | 0.129583 | 0.129584 | 0.129584 | 0.001382 | 0.001382 | 0.001383 | | | | | |
34 | 0.213998 | 0.129632 | 0.129633 | 0.129633 | 0.001433 | 0.001434 | 0.001434 | 0.001434 | | | | |
35 | 0.214055 | 0.129698 | 0.129699 | 0.129699 | 0.001499 | 0.001499 | 0.001500 | 0.001500 | 0.001252 | | | |
36 | 0.214122 | 0.129772 | 0.129773 | 0.129774 | 0.001574 | 0.001574 | 0.001574 | 0.001575 | 0.001309 | 0.001310 | | |
37 | 0.214204 | 0.129862 | 0.129863 | 0.129864 | 0.001654 | 0.001654 | 0.001655 | 0.001656 | 0.001371 | 0.001371 | 0.001372 | |
38 | 0.214328 | 0.129986 | 0.129987 | 0.129988 | 0.001752 | 0.001752 | 0.001753 | 0.001754 | 0.001443 | 0.001444 | 0.001445 | 0.001445 |
39 | 0.214472 | 0.130137 | 0.130139 | 0.130140 | 0.001873 | 0.001874 | 0.001874 | 0.001875 | 0.001537 | 0.001538 | 0.001539 | 0.001539 |
40 | 0.214579 | 0.130282 | 0.130283 | 0.130285 | 0.002000 | 0.002001 | 0.002002 | 0.002003 | 0.001639 | 0.001640 | 0.001641 | 0.001641 |
41 | 0.214857 | 0.130570 | 0.130572 | 0.130575 | 0.002236 | 0.002237 | 0.002238 | 0.002240 | 0.001822 | 0.001823 | 0.001825 | 0.001825 |
42 | 0.215159 | 0.130891 | 0.130894 | 0.130897 | 0.002500 | 0.002502 | 0.002504 | 0.002506 | 0.002025 | 0.002027 | 0.002028 | 0.002028 |
43 | 0.215372 | 0.131179 | 0.131182 | 0.131186 | 0.002757 | 0.002760 | 0.002762 | 0.002764 | 0.002223 | 0.002225 | 0.002227 | 0.002227 |
44 | 0.215736 | 0.131576 | 0.131580 | 0.131585 | 0.003094 | 0.003097 | 0.003100 | 0.003103 | 0.002482 | 0.002484 | 0.002487 | 0.002487 |
45 | 0.216193 | 0.132050 | 0.132056 | 0.132063 | 0.003501 | 0.003505 | 0.003509 | 0.003513 | 0.002796 | 0.002800 | 0.002803 | 0.002803 |
46 | 0.216454 | 0.132442 | 0.132449 | 0.132456 | 0.003885 | 0.003890 | 0.003895 | 0.003900 | 0.003105 | 0.003109 | 0.003114 | 0.003114 |
47 | 0.217059 | 0.133063 | 0.133072 | 0.133081 | 0.004417 | 0.004424 | 0.004430 | 0.004437 | 0.003515 | 0.003520 | 0.003526 | 0.003526 |
48 | 0.217592 | 0.133674 | 0.133685 | 0.133697 | 0.004954 | 0.004961 | 0.004970 | 0.004978 | 0.003928 | 0.003935 | 0.003942 | 0.003942 |
49 | 0.218006 | 0.134260 | 0.134273 | 0.134287 | 0.005494 | 0.005503 | 0.005513 | 0.005524 | 0.004357 | 0.004366 | 0.004375 | 0.004375 |
50 | 0.218949 | 0.135217 | 0.135235 | 0.135253 | 0.006294 | 0.006306 | 0.006318 | 0.006331 | 0.004976 | 0.004987 | 0.004999 | 0.004999 |
51 | 0.220624 | 0.136804 | 0.136830 | 0.136856 | 0.007565 | 0.007582 | 0.007599 | 0.007617 | 0.005944 | 0.005958 | 0.005974 | 0.005974 |
52 | 0.221067 | 0.137767 | 0.137795 | 0.137826 | 0.008502 | 0.008522 | 0.008543 | 0.008565 | 0.006688 | 0.006705 | 0.006725 | 0.006725 |
53 | 0.223112 | 0.139835 | 0.139871 | 0.139913 | 0.010158 | 0.010187 | 0.010216 | 0.010246 | 0.007929 | 0.007952 | 0.007977 | 0.007977 |
54 | 0.225483 | 0.142261 | 0.142307 | 0.142361 | 0.012119 | 0.012159 | 0.012201 | 0.012242 | 0.009408 | 0.009439 | 0.009472 | 0.009472 |
55 | 0.224278 | 0.142734 | 0.142765 | 0.142810 | 0.013032 | 0.013074 | 0.013122 | 0.013172 | 0.010205 | 0.010242 | 0.010282 | 0.010282 |
56 | 0.225217 | 0.144381 | 0.144413 | 0.144459 | 0.014669 | 0.014717 | 0.014775 | 0.014838 | 0.011543 | 0.011589 | 0.011638 | 0.011638 |
57 | 0.226955 | 0.146608 | 0.146608 | 0.146660 | 0.016742 | 0.016799 | 0.016869 | 0.016948 | 0.013225 | 0.013286 | 0.013349 | 0.013349 |
58 | 0.223424 | 0.144205 | 0.144205 | 0.144205 | 0.016180 | 0.016216 | 0.016270 | 0.016340 | 0.013134 | 0.013199 | 0.013270 | 0.013270 |
59 | 0.225135 | 0.146400 | 0.146400 | 0.146400 | 0.018415 | 0.018455 | 0.018517 | 0.018598 | 0.015032 | 0.015114 | 0.015207 | 0.015207 |
60 | 0.227936 | 0.145422 | 0.145422 | 0.145422 | 0.018892 | 0.018892 | 0.018941 | 0.019014 | 0.015760 | 0.015848 | 0.015955 | 0.015955 |
61 | | 0.142998 | 0.142998 | 0.142998 | 0.017200 | 0.017200 | 0.017200 | 0.017241 | 0.015035 | 0.015112 | 0.015216 | 0.015216 |
62 | | 0.144934 | 0.144934 | 0.144934 | 0.019270 | 0.019270 | 0.019270 | 0.019270 | 0.016832 | 0.016919 | 0.017041 | 0.017041 |
63 | | 0.146988 | 0.146988 | 0.146988 | 0.021390 | 0.021390 | 0.021390 | 0.021390 | 0.018586 | 0.018684 | 0.018823 | 0.018823 |
64 | | | | | 0.012017 | 0.012017 | 0.012017 | 0.012017 | 0.012017 | 0.012017 | 0.012089 | 0.012089 |
65 | | | | | 0.013403 | 0.013403 | 0.013403 | 0.013403 | 0.013403 | 0.013403 | 0.013403 | 0.013403 |
66 | | | | | 0.014832 | 0.014832 | 0.014832 | 0.014832 | 0.014832 | 0.014832 | 0.014832 | 0.014832 |
67 | | | | | 0.016381 | 0.016381 | 0.016381 | 0.016381 | 0.016381 | 0.016381 | 0.016381 | 0.016381 |
68 | | | | | 0.018050 | 0.018050 | 0.018050 | 0.018050 | 0.018050 | 0.018050 | 0.018050 | 0.018050 |
69 | | | | | 0.019856 | 0.019856 | 0.019856 | 0.019856 | 0.019856 | 0.019856 | 0.019856 | 0.019856 |
70 | | | | | 0.021835 | 0.021835 | 0.021835 | 0.021835 | 0.021835 | 0.021835 | 0.021835 | 0.021835 |
Table 11 Lump sum valuation factors (LSF) — males — 2 completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.227777 | 0.137767 | 0.137767 | | | | | | | | | |
31 | 0.227803 | 0.137807 | 0.137807 | 0.137807 | | | | | | | | |
32 | 0.227825 | 0.137849 | 0.137849 | 0.137850 | 0.001214 | | | | | | | |
33 | 0.227853 | 0.137898 | 0.137898 | 0.137899 | 0.001256 | 0.001257 | | | | | | |
34 | 0.227899 | 0.137957 | 0.137958 | 0.137958 | 0.001305 | 0.001306 | 0.001306 | | | | | |
35 | 0.227944 | 0.138017 | 0.138017 | 0.138018 | 0.001358 | 0.001358 | 0.001359 | 0.001359 | | | | |
36 | 0.228024 | 0.138098 | 0.138099 | 0.138099 | 0.001426 | 0.001427 | 0.001427 | 0.001428 | 0.001141 | | | |
37 | 0.228110 | 0.138183 | 0.138184 | 0.138185 | 0.001499 | 0.001500 | 0.001500 | 0.001501 | 0.001195 | 0.001196 | | |
38 | 0.228216 | 0.138288 | 0.138289 | 0.138290 | 0.001580 | 0.001580 | 0.001581 | 0.001582 | 0.001253 | 0.001254 | 0.001254 | |
39 | 0.228358 | 0.138428 | 0.138429 | 0.138430 | 0.001686 | 0.001687 | 0.001688 | 0.001688 | 0.001331 | 0.001332 | 0.001332 | 0.001332 |
40 | 0.228521 | 0.138594 | 0.138595 | 0.138597 | 0.001814 | 0.001815 | 0.001816 | 0.001817 | 0.001428 | 0.001429 | 0.001429 | 0.001429 |
41 | 0.228744 | 0.138830 | 0.138832 | 0.138834 | 0.002003 | 0.002004 | 0.002005 | 0.002006 | 0.001572 | 0.001573 | 0.001573 | 0.001573 |
42 | 0.229046 | 0.139134 | 0.139136 | 0.139139 | 0.002236 | 0.002237 | 0.002239 | 0.002240 | 0.001746 | 0.001748 | 0.001748 | 0.001748 |
43 | 0.229379 | 0.139476 | 0.139479 | 0.139482 | 0.002502 | 0.002504 | 0.002506 | 0.002508 | 0.001943 | 0.001945 | 0.001945 | 0.001945 |
44 | 0.229629 | 0.139790 | 0.139794 | 0.139798 | 0.002760 | 0.002762 | 0.002765 | 0.002768 | 0.002135 | 0.002137 | 0.002137 | 0.002137 |
45 | 0.230052 | 0.140230 | 0.140235 | 0.140240 | 0.003107 | 0.003110 | 0.003114 | 0.003117 | 0.002394 | 0.002397 | 0.002397 | 0.002397 |
46 | 0.230590 | 0.140762 | 0.140769 | 0.140775 | 0.003532 | 0.003536 | 0.003541 | 0.003545 | 0.002716 | 0.002720 | 0.002720 | 0.002720 |
47 | 0.230895 | 0.141180 | 0.141188 | 0.141196 | 0.003900 | 0.003906 | 0.003911 | 0.003917 | 0.003000 | 0.003005 | 0.003005 | 0.003005 |
48 | 0.231593 | 0.141859 | 0.141869 | 0.141880 | 0.004433 | 0.004440 | 0.004447 | 0.004455 | 0.003396 | 0.003402 | 0.003402 | 0.003402 |
49 | 0.232207 | 0.142526 | 0.142538 | 0.142551 | 0.004969 | 0.004978 | 0.004987 | 0.004997 | 0.003795 | 0.003803 | 0.003803 | 0.003803 |
50 | 0.232692 | 0.143165 | 0.143180 | 0.143195 | 0.005511 | 0.005521 | 0.005532 | 0.005544 | 0.004212 | 0.004222 | 0.004222 | 0.004222 |
51 | 0.234256 | 0.144603 | 0.144624 | 0.144646 | 0.006607 | 0.006621 | 0.006636 | 0.006652 | 0.005026 | 0.005039 | 0.005039 | 0.005039 |
52 | 0.236108 | 0.146304 | 0.146334 | 0.146365 | 0.007886 | 0.007905 | 0.007926 | 0.007947 | 0.005966 | 0.005983 | 0.005983 | 0.005983 |
53 | 0.236515 | 0.147265 | 0.147297 | 0.147333 | 0.008765 | 0.008788 | 0.008813 | 0.008839 | 0.006639 | 0.006660 | 0.006660 | 0.006660 |
54 | 0.238748 | 0.149473 | 0.149515 | 0.149563 | 0.010454 | 0.010487 | 0.010521 | 0.010557 | 0.007867 | 0.007894 | 0.007894 | 0.007894 |
55 | 0.241351 | 0.152078 | 0.152131 | 0.152193 | 0.012476 | 0.012522 | 0.012570 | 0.012618 | 0.009357 | 0.009393 | 0.009393 | 0.009393 |
56 | 0.238978 | 0.151624 | 0.151658 | 0.151706 | 0.012672 | 0.012717 | 0.012768 | 0.012821 | 0.009620 | 0.009660 | 0.009660 | 0.009660 |
57 | 0.239960 | 0.153306 | 0.153340 | 0.153390 | 0.014247 | 0.014299 | 0.014361 | 0.014429 | 0.010869 | 0.010918 | 0.010918 | 0.010918 |
58 | 0.241812 | 0.155621 | 0.155621 | 0.155677 | 0.016299 | 0.016360 | 0.016435 | 0.016521 | 0.012494 | 0.012560 | 0.012560 | 0.012560 |
59 | 0.238002 | 0.152915 | 0.152915 | 0.152915 | 0.015392 | 0.015430 | 0.015489 | 0.015564 | 0.012083 | 0.012154 | 0.012154 | 0.012154 |
60 | 0.239817 | 0.155137 | 0.155137 | 0.155137 | 0.017472 | 0.017516 | 0.017582 | 0.017670 | 0.013791 | 0.013881 | 0.013881 | 0.013881 |
61 | 0.242759 | 0.153906 | 0.153906 | 0.153906 | 0.017637 | 0.017637 | 0.017691 | 0.017769 | 0.014219 | 0.014315 | 0.014315 | 0.014315 |
62 | | 0.150906 | 0.150906 | 0.150906 | 0.015255 | 0.015255 | 0.015255 | 0.015299 | 0.012875 | 0.012959 | 0.012959 | 0.012959 |
63 | | 0.152567 | 0.152567 | 0.152567 | 0.016895 | 0.016895 | 0.016895 | 0.016895 | 0.014211 | 0.014307 | 0.014307 | 0.014307 |
64 | | 0.154476 | 0.154476 | 0.154476 | 0.018778 | 0.018778 | 0.018778 | 0.018778 | 0.015689 | 0.015798 | 0.015798 | 0.015798 |
65 | | | | | 0.007992 | 0.007992 | 0.007992 | 0.007992 | 0.007992 | 0.007992 | 0.007992 | 0.007992 |
66 | | | | | 0.008854 | 0.008854 | 0.008854 | 0.008854 | 0.008854 | 0.008854 | 0.008854 | 0.008854 |
67 | | | | | 0.009793 | 0.009793 | 0.009793 | 0.009793 | 0.009793 | 0.009793 | 0.009793 | 0.009793 |
68 | | | | | 0.010807 | 0.010807 | 0.010807 | 0.010807 | 0.010807 | 0.010807 | 0.010807 | 0.010807 |
69 | | | | | 0.011894 | 0.011894 | 0.011894 | 0.011894 | 0.011894 | 0.011894 | 0.011894 | 0.011894 |
70 | | | | | 0.013083 | 0.013083 | 0.013083 | 0.013083 | 0.013083 | 0.013083 | 0.013083 | 0.013083 |
Table 12 Lump sum valuation factors (LSF) — males — 3 or more completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.242550 | 0.146619 | | | | | | | | | | |
31 | 0.242582 | 0.146660 | 0.146660 | | | | | | | | | |
32 | 0.242617 | 0.146705 | 0.146706 | 0.146706 | | | | | | | | |
33 | 0.242649 | 0.146754 | 0.146754 | 0.146755 | 0.001120 | | | | | | | |
34 | 0.242693 | 0.146814 | 0.146815 | 0.146815 | 0.001162 | 0.001163 | | | | | | |
35 | 0.242756 | 0.146885 | 0.146886 | 0.146886 | 0.001212 | 0.001213 | 0.001213 | | | | | |
36 | 0.242825 | 0.146961 | 0.146961 | 0.146962 | 0.001267 | 0.001267 | 0.001268 | 0.001268 | | | | |
37 | 0.242925 | 0.147054 | 0.147054 | 0.147055 | 0.001333 | 0.001333 | 0.001334 | 0.001335 | 0.000996 | | | |
38 | 0.243037 | 0.147155 | 0.147156 | 0.147156 | 0.001405 | 0.001405 | 0.001406 | 0.001407 | 0.001046 | 0.001046 | | |
39 | 0.243160 | 0.147274 | 0.147275 | 0.147276 | 0.001492 | 0.001493 | 0.001494 | 0.001495 | 0.001108 | 0.001108 | 0.001108 | |
40 | 0.243321 | 0.147427 | 0.147429 | 0.147430 | 0.001604 | 0.001605 | 0.001605 | 0.001606 | 0.001186 | 0.001186 | 0.001186 | 0.001186 |
41 | 0.243595 | 0.147679 | 0.147681 | 0.147683 | 0.001785 | 0.001786 | 0.001787 | 0.001788 | 0.001317 | 0.001317 | 0.001317 | 0.001317 |
42 | 0.243836 | 0.147925 | 0.147927 | 0.147929 | 0.001966 | 0.001968 | 0.001969 | 0.001970 | 0.001448 | 0.001448 | 0.001448 | 0.001448 |
43 | 0.244169 | 0.148248 | 0.148250 | 0.148253 | 0.002197 | 0.002199 | 0.002201 | 0.002203 | 0.001613 | 0.001613 | 0.001613 | 0.001613 |
44 | 0.244552 | 0.148623 | 0.148627 | 0.148631 | 0.002466 | 0.002468 | 0.002471 | 0.002473 | 0.001803 | 0.001803 | 0.001803 | 0.001803 |
45 | 0.244850 | 0.148971 | 0.148976 | 0.148980 | 0.002725 | 0.002728 | 0.002731 | 0.002734 | 0.001987 | 0.001987 | 0.001987 | 0.001987 |
46 | 0.245352 | 0.149466 | 0.149471 | 0.149477 | 0.003083 | 0.003087 | 0.003091 | 0.003095 | 0.002247 | 0.002247 | 0.002247 | 0.002247 |
47 | 0.245965 | 0.150041 | 0.150048 | 0.150056 | 0.003496 | 0.003501 | 0.003507 | 0.003512 | 0.002545 | 0.002545 | 0.002545 | 0.002545 |
48 | 0.246334 | 0.150497 | 0.150506 | 0.150515 | 0.003848 | 0.003854 | 0.003860 | 0.003867 | 0.002802 | 0.002802 | 0.002802 | 0.002802 |
49 | 0.247135 | 0.151241 | 0.151252 | 0.151263 | 0.004380 | 0.004388 | 0.004397 | 0.004405 | 0.003182 | 0.003182 | 0.003182 | 0.003182 |
50 | 0.247843 | 0.151971 | 0.151984 | 0.151999 | 0.004917 | 0.004927 | 0.004937 | 0.004948 | 0.003564 | 0.003564 | 0.003564 | 0.003564 |
51 | 0.248841 | 0.153004 | 0.153021 | 0.153039 | 0.005682 | 0.005694 | 0.005707 | 0.005722 | 0.004120 | 0.004120 | 0.004120 | 0.004120 |
52 | 0.250572 | 0.154538 | 0.154563 | 0.154588 | 0.006765 | 0.006782 | 0.006800 | 0.006818 | 0.004890 | 0.004890 | 0.004890 | 0.004890 |
53 | 0.252621 | 0.156363 | 0.156398 | 0.156434 | 0.008051 | 0.008073 | 0.008097 | 0.008122 | 0.005802 | 0.005802 | 0.005802 | 0.005802 |
54 | 0.252962 | 0.157299 | 0.157337 | 0.157378 | 0.008851 | 0.008878 | 0.008907 | 0.008937 | 0.006386 | 0.006386 | 0.006386 | 0.006386 |
55 | 0.255412 | 0.159664 | 0.159713 | 0.159768 | 0.010572 | 0.010610 | 0.010649 | 0.010690 | 0.007601 | 0.007601 | 0.007601 | 0.007601 |
56 | 0.257263 | 0.161630 | 0.161686 | 0.161752 | 0.012068 | 0.012117 | 0.012169 | 0.012221 | 0.008695 | 0.008695 | 0.008695 | 0.008695 |
57 | 0.254706 | 0.161064 | 0.161101 | 0.161152 | 0.012097 | 0.012145 | 0.012200 | 0.012258 | 0.008788 | 0.008788 | 0.008788 | 0.008788 |
58 | 0.255755 | 0.162800 | 0.162837 | 0.162890 | 0.013611 | 0.013667 | 0.013734 | 0.013808 | 0.009944 | 0.009944 | 0.009944 | 0.009944 |
59 | 0.257744 | 0.165169 | 0.165169 | 0.165229 | 0.015507 | 0.015572 | 0.015654 | 0.015747 | 0.011370 | 0.011370 | 0.011370 | 0.011370 |
60 | 0.253647 | 0.162136 | 0.162136 | 0.162136 | 0.014205 | 0.014246 | 0.014310 | 0.014392 | 0.010590 | 0.010590 | 0.010590 | 0.010590 |
61 | 0.255541 | 0.164357 | 0.164357 | 0.164357 | 0.016090 | 0.016137 | 0.016209 | 0.016306 | 0.012063 | 0.012063 | 0.012063 | 0.012063 |
62 | 0.258472 | 0.162673 | 0.162673 | 0.162673 | 0.015722 | 0.015722 | 0.015781 | 0.015867 | 0.011966 | 0.011966 | 0.011966 | 0.011966 |
63 | | 0.158940 | 0.158940 | 0.158940 | 0.012484 | 0.012484 | 0.012484 | 0.012533 | 0.009860 | 0.009860 | 0.009860 | 0.009860 |
64 | | 0.160419 | 0.160419 | 0.160419 | 0.013836 | 0.013836 | 0.013836 | 0.013836 | 0.010875 | 0.010875 | 0.010875 | 0.010875 |
65 | | 0.162173 | 0.162173 | 0.162173 | 0.015458 | 0.015458 | 0.015458 | 0.015458 | 0.012048 | 0.012048 | 0.012048 | 0.012048 |
66 | | | | | 0.002939 | 0.002939 | 0.002939 | 0.002939 | 0.002939 | 0.002939 | 0.002939 | 0.002939 |
67 | | | | | 0.003254 | 0.003254 | 0.003254 | 0.003254 | 0.003254 | 0.003254 | 0.003254 | 0.003254 |
68 | | | | | 0.003596 | 0.003596 | 0.003596 | 0.003596 | 0.003596 | 0.003596 | 0.003596 | 0.003596 |
69 | | | | | 0.003960 | 0.003960 | 0.003960 | 0.003960 | 0.003960 | 0.003960 | 0.003960 | 0.003960 |
70 | | | | | 0.004355 | 0.004355 | 0.004355 | 0.004355 | 0.004355 | 0.004355 | 0.004355 | 0.004355 |
Table 13 Lump sum valuation factors (LSF) — females — less than 1 year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.200702 | 0.121397 | 0.121397 | 0.121397 | 0.001052 | | | | | | | |
31 | 0.200756 | 0.121472 | 0.121472 | 0.121472 | 0.001136 | 0.001136 | | | | | | |
32 | 0.200816 | 0.121551 | 0.121552 | 0.121552 | 0.001220 | 0.001221 | 0.001221 | | | | | |
33 | 0.200857 | 0.121617 | 0.121618 | 0.121618 | 0.001287 | 0.001288 | 0.001288 | 0.001288 | | | | |
34 | 0.200918 | 0.121703 | 0.121704 | 0.121705 | 0.001371 | 0.001372 | 0.001372 | 0.001373 | 0.001140 | | | |
35 | 0.200976 | 0.121797 | 0.121798 | 0.121799 | 0.001460 | 0.001460 | 0.001461 | 0.001462 | 0.001208 | 0.001209 | | |
36 | 0.201040 | 0.121906 | 0.121907 | 0.121908 | 0.001568 | 0.001569 | 0.001570 | 0.001570 | 0.001294 | 0.001295 | 0.001295 | |
37 | 0.201124 | 0.122033 | 0.122034 | 0.122036 | 0.001694 | 0.001695 | 0.001696 | 0.001697 | 0.001393 | 0.001394 | 0.001395 | 0.001396 |
38 | 0.201221 | 0.122177 | 0.122178 | 0.122179 | 0.001843 | 0.001844 | 0.001845 | 0.001846 | 0.001513 | 0.001514 | 0.001515 | 0.001516 |
39 | 0.201295 | 0.122312 | 0.122314 | 0.122315 | 0.001998 | 0.001999 | 0.002000 | 0.002002 | 0.001639 | 0.001640 | 0.001642 | 0.001643 |
40 | 0.201421 | 0.122489 | 0.122491 | 0.122493 | 0.002190 | 0.002192 | 0.002193 | 0.002195 | 0.001797 | 0.001798 | 0.001799 | 0.001801 |
41 | 0.201733 | 0.122821 | 0.122823 | 0.122826 | 0.002502 | 0.002504 | 0.002506 | 0.002508 | 0.002045 | 0.002047 | 0.002049 | 0.002051 |
42 | 0.202016 | 0.123154 | 0.123157 | 0.123160 | 0.002818 | 0.002820 | 0.002822 | 0.002825 | 0.002300 | 0.002302 | 0.002304 | 0.002306 |
43 | 0.202427 | 0.123585 | 0.123588 | 0.123592 | 0.003205 | 0.003208 | 0.003211 | 0.003214 | 0.002615 | 0.002618 | 0.002620 | 0.002624 |
44 | 0.202901 | 0.124072 | 0.124077 | 0.124082 | 0.003640 | 0.003644 | 0.003647 | 0.003651 | 0.002971 | 0.002974 | 0.002977 | 0.002981 |
45 | 0.203241 | 0.124506 | 0.124512 | 0.124518 | 0.004057 | 0.004061 | 0.004065 | 0.004070 | 0.003320 | 0.003323 | 0.003328 | 0.003332 |
46 | 0.203821 | 0.125112 | 0.125119 | 0.125127 | 0.004592 | 0.004597 | 0.004603 | 0.004609 | 0.003748 | 0.003753 | 0.003758 | 0.003764 |
47 | 0.204288 | 0.125672 | 0.125681 | 0.125691 | 0.005102 | 0.005108 | 0.005115 | 0.005122 | 0.004147 | 0.004153 | 0.004159 | 0.004166 |
48 | 0.204611 | 0.126177 | 0.126188 | 0.126199 | 0.005589 | 0.005597 | 0.005605 | 0.005614 | 0.004526 | 0.004533 | 0.004541 | 0.004549 |
49 | 0.205292 | 0.126943 | 0.126956 | 0.126970 | 0.006261 | 0.006272 | 0.006283 | 0.006294 | 0.005032 | 0.005041 | 0.005050 | 0.005061 |
50 | 0.206099 | 0.127861 | 0.127877 | 0.127895 | 0.007078 | 0.007092 | 0.007106 | 0.007121 | 0.005664 | 0.005675 | 0.005687 | 0.005699 |
51 | 0.206012 | 0.128313 | 0.128328 | 0.128345 | 0.007676 | 0.007691 | 0.007707 | 0.007725 | 0.006177 | 0.006190 | 0.006205 | 0.006220 |
52 | 0.206927 | 0.129410 | 0.129428 | 0.129449 | 0.008719 | 0.008737 | 0.008757 | 0.008779 | 0.007020 | 0.007037 | 0.007056 | 0.007074 |
53 | 0.208000 | 0.130662 | 0.130683 | 0.130708 | 0.009931 | 0.009952 | 0.009977 | 0.010004 | 0.008029 | 0.008051 | 0.008075 | 0.008099 |
54 | 0.206917 | 0.130657 | 0.130671 | 0.130690 | 0.010435 | 0.010454 | 0.010478 | 0.010507 | 0.008584 | 0.008609 | 0.008637 | 0.008666 |
55 | 0.207565 | 0.131714 | 0.131729 | 0.131750 | 0.011614 | 0.011636 | 0.011664 | 0.011696 | 0.009605 | 0.009636 | 0.009670 | 0.009706 |
56 | 0.208387 | 0.132797 | 0.132797 | 0.132822 | 0.012739 | 0.012765 | 0.012796 | 0.012834 | 0.010568 | 0.010603 | 0.010644 | 0.010688 |
57 | 0.206051 | 0.131097 | 0.131097 | 0.131097 | 0.012177 | 0.012194 | 0.012218 | 0.012250 | 0.010345 | 0.010379 | 0.010420 | 0.010467 |
58 | 0.206724 | 0.132049 | 0.132049 | 0.132049 | 0.013162 | 0.013181 | 0.013209 | 0.013245 | 0.011167 | 0.011206 | 0.011254 | 0.011308 |
59 | 0.208181 | 0.131161 | 0.131161 | 0.131161 | 0.013124 | 0.013124 | 0.013148 | 0.013181 | 0.011294 | 0.011333 | 0.011382 | 0.011441 |
60 | | 0.129478 | 0.129478 | 0.129478 | 0.011866 | 0.011866 | 0.011866 | 0.011885 | 0.010619 | 0.010652 | 0.010698 | 0.010755 |
61 | | 0.130460 | 0.130460 | 0.130460 | 0.012994 | 0.012994 | 0.012994 | 0.012994 | 0.011597 | 0.011636 | 0.011688 | 0.011753 |
62 | | 0.131592 | 0.131592 | 0.131592 | 0.014288 | 0.014288 | 0.014288 | 0.014288 | 0.012693 | 0.012739 | 0.012800 | 0.012875 |
63 | | | | | 0.009129 | 0.009129 | 0.009129 | 0.009129 | 0.009129 | 0.009129 | 0.009161 | 0.009212 |
64 | | | | | 0.010088 | 0.010088 | 0.010088 | 0.010088 | 0.010088 | 0.010088 | 0.010088 | 0.010147 |
65 | | | | | 0.011234 | 0.011234 | 0.011234 | 0.011234 | 0.011234 | 0.011234 | 0.011234 | 0.011234 |
66 | | | | | 0.012436 | 0.012436 | 0.012436 | 0.012436 | 0.012436 | 0.012436 | 0.012436 | 0.012436 |
67 | | | | | 0.013777 | 0.013777 | 0.013777 | 0.013777 | 0.013777 | 0.013777 | 0.013777 | 0.013777 |
68 | | | | | 0.015276 | 0.015276 | 0.015276 | 0.015276 | 0.015276 | 0.015276 | 0.015276 | 0.015276 |
69 | | | | | 0.017013 | 0.017013 | 0.017013 | 0.017013 | 0.017013 | 0.017013 | 0.017013 | 0.017013 |
70 | | | | | 0.019064 | 0.019064 | 0.019064 | 0.019064 | 0.019064 | 0.019064 | 0.019064 | 0.019064 |
Table 14 Lump sum valuation factors (LSF) — females — 1 completed year since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.213719 | 0.129197 | 0.129198 | 0.129198 | | | | | | | | |
31 | 0.213769 | 0.129269 | 0.129269 | 0.129269 | 0.001037 | | | | | | | |
32 | 0.213831 | 0.129346 | 0.129346 | 0.129347 | 0.001114 | 0.001114 | | | | | | |
33 | 0.213887 | 0.129416 | 0.129416 | 0.129417 | 0.001177 | 0.001177 | 0.001178 | | | | | |
34 | 0.213944 | 0.129494 | 0.129495 | 0.129495 | 0.001248 | 0.001248 | 0.001249 | 0.001249 | | | | |
35 | 0.214014 | 0.129584 | 0.129585 | 0.129586 | 0.001328 | 0.001328 | 0.001329 | 0.001330 | 0.001073 | | | |
36 | 0.214092 | 0.129695 | 0.129696 | 0.129697 | 0.001425 | 0.001426 | 0.001427 | 0.001427 | 0.001149 | 0.001149 | | |
37 | 0.214171 | 0.129817 | 0.129818 | 0.129819 | 0.001536 | 0.001537 | 0.001537 | 0.001538 | 0.001234 | 0.001235 | 0.001236 | |
38 | 0.214271 | 0.129958 | 0.129959 | 0.129961 | 0.001668 | 0.001669 | 0.001670 | 0.001671 | 0.001337 | 0.001338 | 0.001339 | 0.001339 |
39 | 0.214391 | 0.130117 | 0.130118 | 0.130120 | 0.001818 | 0.001819 | 0.001820 | 0.001822 | 0.001455 | 0.001456 | 0.001457 | 0.001457 |
40 | 0.214489 | 0.130271 | 0.130272 | 0.130274 | 0.001977 | 0.001978 | 0.001980 | 0.001981 | 0.001583 | 0.001584 | 0.001585 | 0.001585 |
41 | 0.214791 | 0.130587 | 0.130589 | 0.130591 | 0.002260 | 0.002262 | 0.002263 | 0.002265 | 0.001803 | 0.001804 | 0.001806 | 0.001806 |
42 | 0.215142 | 0.130942 | 0.130945 | 0.130948 | 0.002570 | 0.002572 | 0.002574 | 0.002576 | 0.002042 | 0.002044 | 0.002046 | 0.002046 |
43 | 0.215471 | 0.131308 | 0.131311 | 0.131315 | 0.002893 | 0.002895 | 0.002898 | 0.002900 | 0.002296 | 0.002299 | 0.002302 | 0.002302 |
44 | 0.215916 | 0.131759 | 0.131763 | 0.131768 | 0.003275 | 0.003278 | 0.003281 | 0.003285 | 0.002599 | 0.002602 | 0.002606 | 0.002606 |
45 | 0.216436 | 0.132277 | 0.132283 | 0.132289 | 0.003715 | 0.003719 | 0.003723 | 0.003727 | 0.002952 | 0.002956 | 0.002960 | 0.002960 |
46 | 0.216797 | 0.132724 | 0.132731 | 0.132738 | 0.004119 | 0.004123 | 0.004128 | 0.004133 | 0.003283 | 0.003287 | 0.003292 | 0.003292 |
47 | 0.217399 | 0.133332 | 0.133340 | 0.133349 | 0.004618 | 0.004624 | 0.004630 | 0.004636 | 0.003665 | 0.003670 | 0.003676 | 0.003676 |
48 | 0.217878 | 0.133891 | 0.133902 | 0.133913 | 0.005092 | 0.005100 | 0.005107 | 0.005115 | 0.004018 | 0.004025 | 0.004032 | 0.004032 |
49 | 0.218236 | 0.134424 | 0.134436 | 0.134449 | 0.005573 | 0.005582 | 0.005591 | 0.005601 | 0.004381 | 0.004388 | 0.004397 | 0.004397 |
50 | 0.219004 | 0.135260 | 0.135274 | 0.135290 | 0.006273 | 0.006285 | 0.006297 | 0.006310 | 0.004898 | 0.004908 | 0.004919 | 0.004919 |
51 | 0.219912 | 0.136262 | 0.136279 | 0.136299 | 0.007128 | 0.007143 | 0.007159 | 0.007175 | 0.005550 | 0.005562 | 0.005575 | 0.005575 |
52 | 0.219804 | 0.136717 | 0.136733 | 0.136753 | 0.007708 | 0.007724 | 0.007742 | 0.007761 | 0.006038 | 0.006052 | 0.006068 | 0.006068 |
53 | 0.220818 | 0.137900 | 0.137920 | 0.137943 | 0.008792 | 0.008811 | 0.008834 | 0.008858 | 0.006903 | 0.006923 | 0.006943 | 0.006943 |
54 | 0.221955 | 0.139181 | 0.139204 | 0.139232 | 0.009959 | 0.009982 | 0.010009 | 0.010039 | 0.007849 | 0.007873 | 0.007899 | 0.007899 |
55 | 0.220709 | 0.139070 | 0.139086 | 0.139107 | 0.010334 | 0.010355 | 0.010382 | 0.010413 | 0.008284 | 0.008312 | 0.008342 | 0.008342 |
56 | 0.221039 | 0.139809 | 0.139825 | 0.139848 | 0.011189 | 0.011212 | 0.011242 | 0.011277 | 0.009032 | 0.009065 | 0.009102 | 0.009102 |
57 | 0.221869 | 0.140860 | 0.140860 | 0.140887 | 0.012193 | 0.012220 | 0.012254 | 0.012294 | 0.009859 | 0.009897 | 0.009942 | 0.009942 |
58 | 0.219307 | 0.138915 | 0.138915 | 0.138915 | 0.011365 | 0.011383 | 0.011409 | 0.011443 | 0.009394 | 0.009430 | 0.009474 | 0.009474 |
59 | 0.220023 | 0.139888 | 0.139888 | 0.139888 | 0.012306 | 0.012327 | 0.012357 | 0.012396 | 0.010159 | 0.010201 | 0.010252 | 0.010252 |
60 | 0.221576 | 0.138883 | 0.138883 | 0.138883 | 0.012148 | 0.012148 | 0.012173 | 0.012209 | 0.010175 | 0.010217 | 0.010271 | 0.010271 |
61 | | 0.137034 | 0.137034 | 0.137034 | 0.010697 | 0.010697 | 0.010697 | 0.010717 | 0.009349 | 0.009385 | 0.009434 | 0.009434 |
62 | | 0.137969 | 0.137969 | 0.137969 | 0.011720 | 0.011720 | 0.011720 | 0.011720 | 0.010210 | 0.010252 | 0.010308 | 0.010308 |
63 | | 0.139074 | 0.139074 | 0.139074 | 0.012936 | 0.012936 | 0.012936 | 0.012936 | 0.011211 | 0.011260 | 0.011327 | 0.011327 |
64 | | | | | 0.007122 | 0.007122 | 0.007122 | 0.007122 | 0.007122 | 0.007122 | 0.007157 | 0.007157 |
65 | | | | | 0.007925 | 0.007925 | 0.007925 | 0.007925 | 0.007925 | 0.007925 | 0.007925 | 0.007925 |
66 | | | | | 0.008773 | 0.008773 | 0.008773 | 0.008773 | 0.008773 | 0.008773 | 0.008773 | 0.008773 |
67 | | | | | 0.009718 | 0.009718 | 0.009718 | 0.009718 | 0.009718 | 0.009718 | 0.009718 | 0.009718 |
68 | | | | | 0.010767 | 0.010767 | 0.010767 | 0.010767 | 0.010767 | 0.010767 | 0.010767 | 0.010767 |
69 | | | | | 0.011951 | 0.011951 | 0.011951 | 0.011951 | 0.011951 | 0.011951 | 0.011951 | 0.011951 |
70 | | | | | 0.013337 | 0.013337 | 0.013337 | 0.013337 | 0.013337 | 0.013337 | 0.013337 | 0.013337 |
Table 15 Lump sum valuation factors (LSF) — females — 2 completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.227574 | 0.137500 | 0.137501 | | | | | | | | | |
31 | 0.227636 | 0.137578 | 0.137578 | 0.137578 | | | | | | | | |
32 | 0.227695 | 0.137652 | 0.137652 | 0.137652 | 0.001003 | | | | | | | |
33 | 0.227754 | 0.137719 | 0.137720 | 0.137720 | 0.001059 | 0.001059 | | | | | | |
34 | 0.227828 | 0.137802 | 0.137803 | 0.137803 | 0.001126 | 0.001126 | 0.001126 | | | | | |
35 | 0.227894 | 0.137885 | 0.137886 | 0.137886 | 0.001191 | 0.001192 | 0.001192 | 0.001193 | | | | |
36 | 0.227985 | 0.137992 | 0.137993 | 0.137994 | 0.001279 | 0.001279 | 0.001280 | 0.001281 | 0.000993 | | | |
37 | 0.228081 | 0.138116 | 0.138117 | 0.138118 | 0.001377 | 0.001378 | 0.001379 | 0.001379 | 0.001067 | 0.001068 | | |
38 | 0.228177 | 0.138251 | 0.138253 | 0.138254 | 0.001493 | 0.001494 | 0.001494 | 0.001495 | 0.001155 | 0.001155 | 0.001155 | |
39 | 0.228299 | 0.138409 | 0.138410 | 0.138411 | 0.001625 | 0.001626 | 0.001627 | 0.001628 | 0.001253 | 0.001254 | 0.001254 | 0.001254 |
40 | 0.228447 | 0.138588 | 0.138590 | 0.138591 | 0.001778 | 0.001779 | 0.001780 | 0.001782 | 0.001371 | 0.001372 | 0.001372 | 0.001372 |
41 | 0.228708 | 0.138867 | 0.138869 | 0.138871 | 0.002012 | 0.002014 | 0.002015 | 0.002017 | 0.001547 | 0.001549 | 0.001549 | 0.001549 |
42 | 0.229050 | 0.139206 | 0.139209 | 0.139211 | 0.002290 | 0.002292 | 0.002294 | 0.002296 | 0.001755 | 0.001757 | 0.001757 | 0.001757 |
43 | 0.229456 | 0.139599 | 0.139602 | 0.139605 | 0.002607 | 0.002609 | 0.002611 | 0.002614 | 0.001993 | 0.001995 | 0.001995 | 0.001995 |
44 | 0.229811 | 0.139977 | 0.139981 | 0.139985 | 0.002917 | 0.002920 | 0.002923 | 0.002926 | 0.002227 | 0.002230 | 0.002230 | 0.002230 |
45 | 0.230299 | 0.140456 | 0.140460 | 0.140465 | 0.003299 | 0.003302 | 0.003306 | 0.003310 | 0.002522 | 0.002525 | 0.002525 | 0.002525 |
46 | 0.230863 | 0.140998 | 0.141004 | 0.141011 | 0.003729 | 0.003734 | 0.003738 | 0.003743 | 0.002858 | 0.002862 | 0.002862 | 0.002862 |
47 | 0.231222 | 0.141430 | 0.141438 | 0.141445 | 0.004083 | 0.004088 | 0.004094 | 0.004100 | 0.003133 | 0.003137 | 0.003137 | 0.003137 |
48 | 0.231854 | 0.142044 | 0.142054 | 0.142064 | 0.004548 | 0.004554 | 0.004561 | 0.004568 | 0.003469 | 0.003475 | 0.003475 | 0.003475 |
49 | 0.232386 | 0.142640 | 0.142651 | 0.142664 | 0.005015 | 0.005023 | 0.005031 | 0.005041 | 0.003805 | 0.003812 | 0.003812 | 0.003812 |
50 | 0.232797 | 0.143219 | 0.143232 | 0.143246 | 0.005504 | 0.005514 | 0.005524 | 0.005535 | 0.004165 | 0.004174 | 0.004174 | 0.004174 |
51 | 0.233664 | 0.144131 | 0.144147 | 0.144165 | 0.006231 | 0.006244 | 0.006258 | 0.006272 | 0.004691 | 0.004702 | 0.004702 | 0.004702 |
52 | 0.234660 | 0.145198 | 0.145217 | 0.145238 | 0.007097 | 0.007113 | 0.007131 | 0.007149 | 0.005335 | 0.005348 | 0.005348 | 0.005348 |
53 | 0.234544 | 0.145671 | 0.145689 | 0.145711 | 0.007670 | 0.007688 | 0.007708 | 0.007729 | 0.005810 | 0.005826 | 0.005826 | 0.005826 |
54 | 0.235621 | 0.146880 | 0.146902 | 0.146927 | 0.008697 | 0.008718 | 0.008743 | 0.008770 | 0.006600 | 0.006622 | 0.006622 | 0.006622 |
55 | 0.236836 | 0.148196 | 0.148221 | 0.148251 | 0.009808 | 0.009833 | 0.009863 | 0.009897 | 0.007472 | 0.007498 | 0.007498 | 0.007498 |
56 | 0.235113 | 0.147685 | 0.147702 | 0.147725 | 0.009814 | 0.009837 | 0.009866 | 0.009899 | 0.007610 | 0.007640 | 0.007640 | 0.007640 |
57 | 0.235426 | 0.148371 | 0.148389 | 0.148413 | 0.010527 | 0.010552 | 0.010584 | 0.010622 | 0.008206 | 0.008241 | 0.008241 | 0.008241 |
58 | 0.236270 | 0.149384 | 0.149384 | 0.149412 | 0.011377 | 0.011407 | 0.011443 | 0.011487 | 0.008864 | 0.008905 | 0.008905 | 0.008905 |
59 | 0.233523 | 0.147254 | 0.147254 | 0.147254 | 0.010373 | 0.010393 | 0.010420 | 0.010457 | 0.008246 | 0.008285 | 0.008285 | 0.008285 |
60 | 0.234287 | 0.148250 | 0.148250 | 0.148250 | 0.011264 | 0.011287 | 0.011320 | 0.011361 | 0.008947 | 0.008992 | 0.008992 | 0.008992 |
61 | 0.235959 | 0.147133 | 0.147133 | 0.147133 | 0.010994 | 0.010994 | 0.011021 | 0.011060 | 0.008861 | 0.008906 | 0.008906 | 0.008906 |
62 | | 0.145025 | 0.145025 | 0.145025 | 0.009240 | 0.009240 | 0.009240 | 0.009263 | 0.007778 | 0.007817 | 0.007817 | 0.007817 |
63 | | 0.145921 | 0.145921 | 0.145921 | 0.010163 | 0.010163 | 0.010163 | 0.010163 | 0.008524 | 0.008569 | 0.008569 | 0.008569 |
64 | | 0.146990 | 0.146990 | 0.146990 | 0.011256 | 0.011256 | 0.011256 | 0.011256 | 0.009382 | 0.009436 | 0.009436 | 0.009436 |
65 | | | | | 0.004698 | 0.004698 | 0.004698 | 0.004698 | 0.004698 | 0.004698 | 0.004698 | 0.004698 |
66 | | | | | 0.005200 | 0.005200 | 0.005200 | 0.005200 | 0.005200 | 0.005200 | 0.005200 | 0.005200 |
67 | | | | | 0.005762 | 0.005762 | 0.005762 | 0.005762 | 0.005762 | 0.005762 | 0.005762 | 0.005762 |
68 | | | | | 0.006381 | 0.006381 | 0.006381 | 0.006381 | 0.006381 | 0.006381 | 0.006381 | 0.006381 |
69 | | | | | 0.007077 | 0.007077 | 0.007077 | 0.007077 | 0.007077 | 0.007077 | 0.007077 | 0.007077 |
70 | | | | | 0.007863 | 0.007863 | 0.007863 | 0.007863 | 0.007863 | 0.007863 | 0.007863 | 0.007863 |
Table 16 Lump sum valuation factors (LSF) — females — 3 or more completed years since last Legislative Assembly election
Age at Relevant Date | | Period of Service in Completed Years at last Legislative Assembly Election | | | | | |
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11+ |
30 | 0.242329 | 0.146342 | | | | | | | | | | |
31 | 0.242397 | 0.146422 | 0.146422 | | | | | | | | | |
32 | 0.242469 | 0.146503 | 0.146503 | 0.146503 | | | | | | | | |
33 | 0.242526 | 0.146567 | 0.146568 | 0.146568 | 0.000936 | | | | | | | |
34 | 0.242604 | 0.146649 | 0.146649 | 0.146649 | 0.000994 | 0.000995 | | | | | | |
35 | 0.242689 | 0.146737 | 0.146737 | 0.146738 | 0.001055 | 0.001056 | 0.001056 | | | | | |
36 | 0.242777 | 0.146836 | 0.146837 | 0.146838 | 0.001128 | 0.001128 | 0.001129 | 0.001129 | | | | |
37 | 0.242887 | 0.146957 | 0.146958 | 0.146959 | 0.001215 | 0.001216 | 0.001216 | 0.001217 | 0.000889 | | | |
38 | 0.243001 | 0.147095 | 0.147096 | 0.147097 | 0.001317 | 0.001318 | 0.001319 | 0.001319 | 0.000963 | 0.000963 | | |
39 | 0.243120 | 0.147246 | 0.147248 | 0.147249 | 0.001431 | 0.001432 | 0.001433 | 0.001434 | 0.001045 | 0.001045 | 0.001045 | |
40 | 0.243273 | 0.147425 | 0.147426 | 0.147428 | 0.001564 | 0.001565 | 0.001566 | 0.001567 | 0.001140 | 0.001140 | 0.001140 | 0.001140 |
41 | 0.243578 | 0.147721 | 0.147723 | 0.147725 | 0.001781 | 0.001783 | 0.001784 | 0.001786 | 0.001297 | 0.001297 | 0.001297 | 0.001297 |
42 | 0.243875 | 0.148020 | 0.148022 | 0.148024 | 0.002005 | 0.002007 | 0.002009 | 0.002011 | 0.001456 | 0.001456 | 0.001456 | 0.001456 |
43 | 0.244272 | 0.148395 | 0.148398 | 0.148400 | 0.002287 | 0.002289 | 0.002291 | 0.002294 | 0.001659 | 0.001659 | 0.001659 | 0.001659 |
44 | 0.244714 | 0.148805 | 0.148808 | 0.148812 | 0.002591 | 0.002593 | 0.002596 | 0.002599 | 0.001876 | 0.001876 | 0.001876 | 0.001876 |
45 | 0.245102 | 0.149203 | 0.149207 | 0.149211 | 0.002892 | 0.002895 | 0.002899 | 0.002902 | 0.002094 | 0.002094 | 0.002094 | 0.002094 |
46 | 0.245631 | 0.149702 | 0.149707 | 0.149712 | 0.003259 | 0.003262 | 0.003266 | 0.003271 | 0.002365 | 0.002365 | 0.002365 | 0.002365 |
47 | 0.246220 | 0.150242 | 0.150249 | 0.150256 | 0.003644 | 0.003648 | 0.003654 | 0.003659 | 0.002648 | 0.002648 | 0.002648 | 0.002648 |
48 | 0.246584 | 0.150663 | 0.150671 | 0.150680 | 0.003948 | 0.003953 | 0.003959 | 0.003966 | 0.002867 | 0.002867 | 0.002867 | 0.002867 |
49 | 0.247288 | 0.151321 | 0.151331 | 0.151342 | 0.004405 | 0.004412 | 0.004420 | 0.004429 | 0.003185 | 0.003185 | 0.003185 | 0.003185 |
50 | 0.247894 | 0.151971 | 0.151984 | 0.151998 | 0.004881 | 0.004890 | 0.004900 | 0.004910 | 0.003518 | 0.003518 | 0.003518 | 0.003518 |
51 | 0.248368 | 0.152601 | 0.152616 | 0.152632 | 0.005375 | 0.005386 | 0.005398 | 0.005410 | 0.003873 | 0.003873 | 0.003873 | 0.003873 |
52 | 0.249321 | 0.153572 | 0.153589 | 0.153609 | 0.006101 | 0.006115 | 0.006130 | 0.006146 | 0.004380 | 0.004380 | 0.004380 | 0.004380 |
53 | 0.250428 | 0.154723 | 0.154745 | 0.154769 | 0.006993 | 0.007011 | 0.007030 | 0.007051 | 0.005030 | 0.005030 | 0.005030 | 0.005030 |
54 | 0.250261 | 0.155151 | 0.155171 | 0.155195 | 0.007457 | 0.007476 | 0.007499 | 0.007523 | 0.005392 | 0.005392 | 0.005392 | 0.005392 |
55 | 0.251418 | 0.156391 | 0.156415 | 0.156443 | 0.008415 | 0.008439 | 0.008467 | 0.008497 | 0.006096 | 0.006096 | 0.006096 | 0.006096 |
56 | 0.252382 | 0.157455 | 0.157482 | 0.157514 | 0.009247 | 0.009274 | 0.009306 | 0.009343 | 0.006732 | 0.006732 | 0.006732 | 0.006732 |
57 | 0.250506 | 0.156810 | 0.156828 | 0.156852 | 0.009050 | 0.009074 | 0.009105 | 0.009141 | 0.006674 | 0.006674 | 0.006674 | 0.006674 |
58 | 0.250808 | 0.157438 | 0.157456 | 0.157483 | 0.009586 | 0.009614 | 0.009648 | 0.009688 | 0.007082 | 0.007082 | 0.007082 | 0.007082 |
59 | 0.251724 | 0.158485 | 0.158485 | 0.158516 | 0.010382 | 0.010413 | 0.010453 | 0.010500 | 0.007669 | 0.007669 | 0.007669 | 0.007669 |
60 | 0.248779 | 0.156154 | 0.156154 | 0.156154 | 0.009184 | 0.009205 | 0.009235 | 0.009274 | 0.006883 | 0.006883 | 0.006883 | 0.006883 |
61 | 0.249609 | 0.157191 | 0.157191 | 0.157191 | 0.010039 | 0.010063 | 0.010098 | 0.010144 | 0.007530 | 0.007530 | 0.007530 | 0.007530 |
62 | 0.251345 | 0.155881 | 0.155881 | 0.155881 | 0.009558 | 0.009558 | 0.009588 | 0.009630 | 0.007245 | 0.007245 | 0.007245 | 0.007245 |
63 | | 0.153487 | 0.153487 | 0.153487 | 0.007474 | 0.007474 | 0.007474 | 0.007498 | 0.005886 | 0.005886 | 0.005886 | 0.005886 |
64 | | 0.154333 | 0.154333 | 0.154333 | 0.008246 | 0.008246 | 0.008246 | 0.008246 | 0.006464 | 0.006464 | 0.006464 | 0.006464 |
65 | | 0.155361 | 0.155361 | 0.155361 | 0.009196 | 0.009196 | 0.009196 | 0.009196 | 0.007157 | 0.007157 | 0.007157 | 0.007157 |
66 | | | | | 0.001718 | 0.001718 | 0.001718 | 0.001718 | 0.001718 | 0.001718 | 0.001718 | 0.001718 |
67 | | | | | 0.001905 | 0.001905 | 0.001905 | 0.001905 | 0.001905 | 0.001905 | 0.001905 | 0.001905 |
68 | | | | | 0.002109 | 0.002109 | 0.002109 | 0.002109 | 0.002109 | 0.002109 | 0.002109 | 0.002109 |
69 | | | | | 0.002339 | 0.002339 | 0.002339 | 0.002339 | 0.002339 | 0.002339 | 0.002339 | 0.002339 |
70 | | | | | 0.002595 | 0.002595 | 0.002595 | 0.002595 | 0.002595 | 0.002595 | 0.002595 | 0.002595 |
Table 17 Pension valuation factors (F) — pensioner members
Age | Males | | Females |
| Retirement Pension | Invalidity Pension | | Retirement Pension | Invalidity Pension |
30 | 26.4102 | 25.9893 | | 26.3612 | 25.8410 |
31 | 26.2546 | 25.8215 | | 26.2007 | 25.6633 |
32 | 26.0938 | 25.6477 | | 26.0351 | 25.4801 |
33 | 25.9276 | 25.4680 | | 25.8640 | 25.2911 |
34 | 25.7556 | 25.2822 | | 25.6874 | 25.0959 |
35 | 25.5778 | 25.0902 | | 25.5050 | 24.8944 |
36 | 25.3939 | 24.8917 | | 25.3167 | 24.6865 |
37 | 25.2038 | 24.6868 | | 25.1223 | 24.4721 |
38 | 25.0073 | 24.4753 | | 24.9217 | 24.2508 |
39 | 24.8043 | 24.2568 | | 24.7146 | 24.0226 |
40 | 24.5945 | 24.0315 | | 24.5008 | 23.7874 |
41 | 24.3311 | 23.7387 | | 24.2478 | 23.5008 |
42 | 24.0579 | 23.4354 | | 23.9860 | 23.2046 |
43 | 23.7746 | 23.1211 | | 23.7150 | 22.8987 |
44 | 23.4809 | 22.7954 | | 23.4350 | 22.5825 |
45 | 23.1764 | 22.4581 | | 23.1456 | 22.2558 |
46 | 22.8609 | 22.1092 | | 22.8468 | 21.9184 |
47 | 22.5340 | 21.7483 | | 22.5384 | 21.5705 |
48 | 22.1957 | 21.3754 | | 22.2205 | 21.2118 |
49 | 21.8455 | 20.9900 | | 21.8929 | 20.8427 |
50 | 21.4834 | 20.5920 | | 21.5556 | 20.4632 |
51 | 20.9854 | 20.0245 | | 21.2084 | 20.0735 |
52 | 20.4683 | 19.4366 | | 20.8514 | 19.6736 |
53 | 19.9317 | 18.8282 | | 20.4847 | 19.2636 |
54 | 19.3748 | 18.1996 | | 20.1082 | 18.8439 |
55 | 18.7975 | 17.5513 | | 19.7219 | 18.4148 |
56 | 18.4104 | 17.1480 | | 19.3721 | 18.0378 |
57 | 18.0129 | 16.7374 | | 19.0141 | 17.6535 |
58 | 17.6053 | 16.3196 | | 18.6480 | 17.2619 |
59 | 17.1884 | 15.8966 | | 18.2728 | 16.8627 |
60 | 16.7627 | 15.4693 | | 17.8883 | 16.4555 |
61 | 16.3286 | 15.0384 | | 17.4948 | 16.0407 |
62 | 15.8865 | 14.6046 | | 17.0922 | 15.6183 |
63 | 15.4367 | 14.1690 | | 16.6811 | 15.1888 |
64 | 14.9807 | 13.7318 | | 16.2616 | 14.7530 |
65 | 14.5189 | 13.2940 | | 15.8341 | 14.3111 |
66 | 14.0517 | 12.8560 | | 15.3988 | 13.8636 |
67 | 13.5792 | 12.4186 | | 14.9559 | 13.4109 |
68 | 13.1018 | 11.9823 | | 14.5055 | 12.9533 |
69 | 12.6216 | 11.5460 | | 14.0477 | 12.4898 |
70 | 12.1392 | 11.1102 | | 13.5830 | 12.0212 |
71 | 11.6552 | 10.6749 | | 13.1119 | 11.5479 |
72 | 11.1703 | 10.2402 | | 12.6351 | 11.0706 |
73 | 10.6848 | 9.8058 | | 12.1535 | 10.5902 |
74 | 10.1993 | 9.3723 | | 11.6662 | 10.1105 |
75 | 9.7148 | 8.9405 | | 11.1736 | 9.6332 |
76 | 9.2335 | 8.5119 | | 10.6760 | 9.1602 |
77 | 8.7583 | 8.0887 | | 10.1735 | 8.6941 |
78 | 8.2915 | 7.6728 | | 9.6662 | 8.2373 |
79 | 7.8352 | 7.2678 | | 9.1632 | 7.7905 |
80 | 7.3911 | 6.8754 | | 8.6664 | 7.3551 |
81 | 6.9605 | 6.4968 | | 8.1778 | 6.9315 |
82 | 6.5442 | 6.1334 | | 7.6976 | 6.5190 |
83 | 6.1427 | 5.7862 | | 7.2277 | 6.1182 |
84 | 5.7612 | 5.4576 | | 6.7705 | 5.7327 |
85 | 5.3995 | 5.1477 | | 6.3274 | 5.3642 |
86 | 5.0574 | 4.8565 | | 5.9000 | 5.0151 |
87 | 4.7339 | 4.5837 | | 5.4840 | 4.6881 |
88 | 4.4275 | 4.3294 | | 5.0776 | 4.3865 |
89 | 4.1379 | 4.0839 | | 4.6921 | 4.1071 |
90 | 3.8651 | 3.8448 | | 4.3282 | 3.8494 |
Part 7 Victorian pension schemes — Governor, Judges, Associate Judges, Chief Magistrate, Solicitor‑General, Director of Public Prosecutions and Chief Crown Prosecutor
Division 7.1 Definitions
1 Definitions
(1) In this Part:
associate judge of the County Court means a person who is appointed as an associate judge of the County Court under section 17A of the County Court Act.
Associate Judge of the Supreme Court means a person who is appointed as an Associate Judge of the Supreme Court under section 104 of the Supreme Court Act.
Chief Crown Prosecutor means a person appointed as Chief Crown Prosecutor under Part 3 of the Public Prosecutions Act 1994 (Vic).
Chief Judge means a person appointed as Chief Judge of the County Court under subsection 8 (1) of the County Court Act.
Chief Magistrate means a person appointed to be Chief Magistrate of the Magistrates’ Court of Victoria under subsection 7 (2) of the Magistrates’ Court Act 1989 (Vic).
Constitution Act means the Constitution Act 1975 (Vic).
County Court means the court established by section 4 of the County Court Act.
County Court Act means the County Court Act 1958 (Vic).
Director of Public Prosecutions means a person appointed as Director of Public Prosecutions under section 87AB of the Constitution Act.
eligible office means the office mentioned in column 3 of an item in the table in clause 2 that is held by a person.
Governor means a person appointed as Governor of the State of Victoria under section 6 of the Constitution Act.
judge of the County Court means a person appointed as a judge of the County Court under subsection 8 (1) of the County Court Act.
Judge of the Supreme Court means a person appointed as a Judge of the Supreme Court under subsection 75B (2) of the Constitution Act.
retirement age, in relation to a person, means the age worked out under clause 6.
Solicitor‑General means a person appointed to the office of Solicitor‑General under subsection 4 (1) of the Attorney‑General and Solicitor‑General Act 1972 (Vic).
Supreme Court means the Supreme Court of the State of Victoria.
Supreme Court Act means the Supreme Court Act 1986 (Vic).
(2) A reference in this Part to the requirements of Division 2.2 of the Regulations being satisfied does not include a reference to the requirements of that Division being satisfied by making a payment of the kind mentioned in regulation 14H of the Regulations.
Division 7.2 Interests in the growth phase
2 Interests held in Victorian pension schemes by the Governor, Judges, Associate Judges, Chief Magistrate, Solicitor‑General, Director of Public Prosecutions and Chief Crown Prosecutor
For an interest:
(a) that is in the growth phase in a scheme mentioned in column 2 of an item in the following table; and
(b) that is held by a person who holds an office mentioned in column 3 of that item;
the method set out in clause 3 is approved for section 4 of this instrument.
Item | Scheme | Eligible office |
1 | Scheme constituted by sections 7A to 7J of the Constitution Act | Governor |
2 | Scheme constituted by sections 83 to 83AI of the Constitution Act | Judge of the Supreme Court |
3 | Scheme constituted by sections 14 to 14AI of the County Court Act | Chief Judge or a judge of the County Court |
4 | Scheme constituted by sections 104A to 104J of the Supreme Court Act | Associate Judge of the Supreme Court |
5 | Scheme constituted by sections 17B to 17K of the County Court Act | associate judge of the County Court |
6 | Scheme constituted by section 10A of the Magistrates’ Court Act 1989 (Vic) | Chief Magistrate |
7 | Scheme constituted by section 6 of the Attorney‑
General and Solicitor‑General Act 1972 (Vic) | Solicitor‑General |
8 | Scheme constituted by section 87AF of the Constitution Act | Director of Public Prosecutions |
9 | Scheme constituted by section 18 of the Public Prosecutions Act 1994 (Vic) | Chief Crown Prosecutor |
3 Approved method
For clause 2, the method is:
where:
VN is the lump sum value of the person’s accrued pension entitlement at the person’s retirement age calculated in accordance with the formula:
where:
B has the meaning given by clause 4.
Pra is the pension valuation factor mentioned in Table 1 of Division 7.3 that applies, given:
(a) the person’s gender; and
(b) the person’s retirement age.
Rsa is the reversion valuation factor mentioned in Table 2 of Division 7.3 that applies, given:
(a) the person’s gender; and
(b) the person’s age in completed years at the relevant date.
Fy+m has the meaning given by clause 5.
4 Definition of B
(1) In clause 3:
B is calculated in accordance with the formula:
where:
ABM is the person’s accrued benefit multiple at the relevant date, being the lesser of the following amounts:
(a)
(b)
where:
FLMR is the reduction factor under clause 7.
S is the person’s period of service in the person’s eligible office in years, including any fraction of a year, at the relevant date.
QS is the person’s qualifying service under clause 8.
Sal. is:
(a) for a person whose eligible office is Governor — the annual salary payable to the Chief Justice of the Supreme Court under subsection 82 (1) of the Constitution Act at the relevant date; and
(b) for a person whose eligible office is Judge of the Supreme Court:
(i) if the person is the Chief Justice of the Supreme Court — the annual salary payable to the person under subsection 82 (1) of the Constitution Act at the relevant date; or
(ii) if the person is the President of the Court of Appeal — the annual salary payable to the person under subsection 82 (1A) of that Act at the relevant date; or
(iii) if the person is a Judge of Appeal — the annual salary payable to the person under subsection 82 (1B) of that Act at the relevant date; or
(iv) in any other case — the annual salary payable to a Judge of the Supreme Court under subsection 82 (2) of that Act at the relevant date; and
(c) for a person whose eligible office is Chief Judge of the County Court — the annual salary payable to the person under subsection 10 (1) of the County Court Act at the relevant date; and
(d) for a person whose eligible office is judge of the County Court, Chief Magistrate, or Chief Crown Prosecutor — the annual salary payable to a judge of the County Court under subsection 10 (2) of the County Court Act at the relevant date; and
(e) for a person whose eligible office is Associate Judge of the Supreme Court — the annual salary payable to the person under subsection 83A (1) of the Constitution Act at the relevant date; and
(f) for a person whose eligible office is associate judge of the County Court — the annual salary payable to the person under subsection 17AA (1) of the County Court Act at the relevant date; and
(g) for a person whose eligible office is Solicitor‑General or Director of Public Prosecutions — the annual salary payable to a Judge of the Supreme Court under subsection 82 (2) of the Constitution Act at the relevant date.
(2) For the definition of S in paragraph (b) of the definition of ABM in subclause (1):
fraction of a year means the quotient of:
(a) the number of days, including the relevant date, that are not included in the number of complete years of service; and
(b) whichever of subparagraphs (i), (ii) or (iii) is applicable:
(i) if the length of the person’s period of service at the relevant date is less than 1 complete year and the date ‘29 February’ occurs in the period of 12 months commencing on the date on which the person first commenced service — 366; or
(ii) if the length of the person’s period of service at the relevant date is more than 1 complete year and the date ‘29 February’ occurs in the period of 12 months commencing on the person’s most recent anniversary date preceding the relevant date — 366; or
(iii) in any other case — 365.
(3) For the definition of fraction of a year in subclause (2), if a person’s anniversary date is ‘29 February’, the person’s most recent anniversary date is taken to be ‘1 March’ in a year that is not a leap year.
(4) In this clause:
anniversary date means the anniversary of the date on which a person first commenced service.
5 Definition of Fy+m
In clause 3:
Fy+m is the amount calculated in accordance with the formula:
where:
Fy is the lump sum valuation factor mentioned in Table 3 of Division 7.3 that is applicable given the number of complete years in the period commencing on the relevant date and ending on the date when the person will reach the person’s retirement age.
m is the number of complete months of the person’s age that are not included in the person’s age in completed years at the relevant date.
Fy+1 is the lump sum valuation factor mentioned in Table 3 of Division 7.3 that would be applicable to the person if the number of complete years in the period commencing on the relevant date and ending on the date when the person will reach the person’s retirement age were 1 year more than it is.
6 Meaning of retirement age
In this Part:
retirement age, in relation to a person, means:
(a) for a person whose eligible office is Governor:
(i) if the relevant date is less than 5 years after the person first assumed office as Governor — the person’s age at the end of the period that the person has agreed to act as Governor; or
(ii) in any other case — the person’s age at the relevant date; and
(b) for a person whose eligible office is Judge of the Supreme Court and to whom paragraph 77 (4) (a) or (d) of the Constitution Act applies — 72; and
(c) for a person whose eligible office is Chief Judge or judge of the County Court and to whom subsection 14 (1) (a) of the County Court Act applies — 72; and
(d) for a person whose eligible office is Associate Judge of the Supreme Court and to whom subsection 104 (10) of the Supreme Court Act applies — 72; and
(e) for a person whose eligible office is master of the County Court and to whom subsection 17A (5A) of the County Court Act applies — 72; and
(f) for a person whose eligible office is the Solicitor‑General, the Director of Public Prosecutions or the Chief Crown Prosecutor — the later of the age of the person at the time of the expiry of his or her term of office as Solicitor‑General, Director of Public Prosecutions or Chief Crown Prosecutor and 65; and
(g) in any other case — 70.
7 Reduction factor
(1) Reduction factor is:
(a) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlement of only 1 spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the amount calculated in accordance with the formula set out in subclause (2); or
(b) if the requirements of Division 2.2 of the Regulations have been satisfied in respect of the entitlements of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the sum of the amounts calculated in accordance with the formula set out in subclause (2) in respect of each entitlement; or
(c) in any other case — 0.
(2) For paragraphs (1) (a) and (b), each amount is calculated in accordance with the formula:
where:
NMProp is the quotient of:
(a) the value of the spouse’s entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
(b) the gross value of the person’s interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 3.
ABMs is the person’s accrued benefit multiple calculated in accordance with the definition of ABM in clause 4 as if the references to ‘at the relevant date’ in that definition are references to ‘immediately before the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order’.
8 Qualifying service
(1) Qualifying service, in relation to a person, is:
(a) for a person whose eligible office is Governor — 5; and
(b) for a person (other than a person to whom paragraph (a) applies) who first commenced service in the person’s eligible office more than 20 years before the age at which the person is entitled to be paid a pension in respect of that office under clause 9 — 20; and
(c) for a person (other than a person to whom paragraph (a) applies) who first commenced service in the person’s eligible office at least 10 years, but no more than 20 years, before the age at which the person is entitled to be paid a pension in respect of that office under clause 9 — the applicable age in years in clause 9 less the person’s age in years, including any fraction of a year, when the person first commenced service in that office; and
(d) in any other case — 10.
(2) For the definition of qualifying service in subclause (1), the date when a person first commenced service in the person’s eligible office is taken to be the date when the person first commenced service in a prior office if:
(a) for a person whose eligible office is Judge of the Supreme Court or Associate Judge of the Supreme Court — the person’s service in the prior office counts as service in the eligible office under subsection 83 (6) of the Constitution Act or subsection 104A (12) of the Supreme Court Act; or
(b) for a person whose eligible office is judge of the County Court or associate judge of the County Court — the person’s service in the prior office counts as service in the eligible office under subsection 14 (5) or 17B (12) of the County Court Act.
(3) For the definition of qualifying service in subclause (1):
fraction of a year means the quotient of:
(a) the number of days that were not included in the person’s age at the date the person first commenced service in the person’s eligible office; and
(b) whichever of (i) or (ii) is applicable:
(i) if the date ‘29 February’ occurred in the period of 12 months commencing on the person’s most recent birthday before the person first commenced service in the person’s eligible office — 366; or
(ii) in any other case — 365.
(4) For the definition of fraction of a year in subclause (3), if a person’s birthday is ‘29 February’, the person’s most recent birthday is taken to be ‘1 March’ in a year that is not a leap year.
9 Age at which person entitled to pension
(1) For the definition of qualifying service in clause 8, the age at which a person is entitled, on retirement, to be paid a pension in respect of an eligible office is:
(a) for a person whose eligible office is Governor — the age of the person 5 years after first assuming office as Governor; or
(b) for a person to whom subclause (2) applies — 60; or
(c) in any other case — 65.
(2) This subclause applies to the following persons:
(a) a person whose eligible office is Judge of the Supreme Court and to whom subparagraph 83 (1) (a) (ii) or (iii) of the Constitution Act applies;
(b) a person whose eligible office is Chief Judge or judge of the County Court, and to whom subparagraph 14 (2) (a) (ii) or (iii) of the County Court Act applies;
(c) a person whose eligible office is Associate Judge of the Supreme Court and to whom subparagraph 104A (1) (a) (ii) of the Supreme Court Act applies;
(d) a person whose eligible office is associate judge of the County Court and to whom subparagraph 17B (1) (a) (ii) of the County Court Act applies;
(e) a person whose eligible office is Chief Magistrate and to whom subparagraph 14 (2) (a) (ii) or (iii) of the County Court Act applies;
(f) a person whose eligible office is Solicitor‑General and to whom subparagraph 83 (1) (a) (ii) or (iii) of the Constitution Act applies;
(g) a person whose eligible office is Director of Public Prosecutions and to whom subparagraph 83 (1) (a) (ii) or (iii) of the Constitution Act applies;
(h) a person whose eligible office is Chief Crown Prosecutor and to whom subparagraph 14 (2) (a) (ii) or (iii) of the County Court Act applies.
Division 7.3 Factors
Table 1 Pension valuation factors
Retirement age | Males | Females |
30 | 28.4648 | 30.0138 |
31 | 28.1671 | 29.7352 |
32 | 27.8625 | 29.4505 |
33 | 27.5509 | 29.1598 |
34 | 27.2318 | 28.8627 |
35 | 26.9057 | 28.5590 |
36 | 26.5721 | 28.2486 |
37 | 26.2311 | 27.9314 |
38 | 25.8824 | 27.6073 |
39 | 25.5262 | 27.2764 |
40 | 25.1622 | 26.9383 |
41 | 24.7903 | 26.5933 |
42 | 24.4106 | 26.2411 |
43 | 24.0231 | 25.8820 |
44 | 23.6279 | 25.5159 |
45 | 23.2249 | 25.1430 |
46 | 22.8144 | 24.7632 |
47 | 22.3965 | 24.3764 |
48 | 21.9715 | 23.9830 |
49 | 21.5398 | 23.5828 |
50 | 21.1015 | 23.1761 |
51 | 20.6571 | 22.7628 |
52 | 20.2070 | 22.3430 |
53 | 19.7515 | 21.9170 |
54 | 19.2910 | 21.4847 |
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 |
66 | 13.5691 | 15.8449 |
67 | 13.0966 | 15.3442 |
68 | 12.6279 | 14.8409 |
69 | 12.1636 | 14.3356 |
70 | 11.7039 | 13.8288 |
71 | 11.2490 | 13.3211 |
72 | 10.7986 | 12.8129 |
73 | 10.3529 | 12.3046 |
74 | 9.9114 | 11.7973 |
75 | 9.4751 | 11.2925 |
76 | 9.0457 | 10.7919 |
77 | 8.6255 | 10.2979 |
78 | 8.2168 | 9.8127 |
79 | 7.8213 | 9.3386 |
80 | 7.4407 | 8.8770 |
81 | 7.0760 | 8.4279 |
82 | 6.7283 | 7.9910 |
83 | 6.3983 | 7.5664 |
84 | 6.0869 | 7.1553 |
85 | 5.7945 | 6.7594 |
Table 2 Reversion valuation factors
Person’s age at relevant date (in completed years) | Males | Females |
0 to 40 | 2.437 | 1.053 |
41 | 2.356 | 0.990 |
42 | 2.275 | 0.927 |
43 | 2.194 | 0.863 |
44 | 2.112 | 0.800 |
45 | 2.031 | 0.737 |
46 | 1.950 | 0.674 |
47 | 1.869 | 0.611 |
48 | 1.787 | 0.548 |
49 | 1.706 | 0.484 |
50 | 1.625 | 0.421 |
51 | 1.381 | 0.358 |
52 | 1.137 | 0.295 |
53 | 0.894 | 0.232 |
54 | 0.650 | 0.168 |
55 or over | 0.406 | 0.105 |
Table 3 Lump sum valuation factors
Period of time until retirement age
(in completed years) | Factor |
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 |
Schedule 4 Public sector superannuation plans — Queensland
(section 4)
Part 1—Superannuation scheme established by the Superannuation (State Public Sector) Act 1990 (Qld)
1 Definitions
In this Part:
Deed means the trust deed governing the Scheme.
Family Law Act means the Family Law Act 1975.
Government Division Rules means the Division Rules (within the meaning of the Deed) that relate to the Government Division referred to in clause 2.1 of the Deed.
participation schedule means the part of the Government Division Rules known as the Participation Schedule.
QSuper Lifetime Pension means an interest in the Scheme that:
(a) is in the payment phase; and
(b) is covered by Chapter 10 of the Government Division Rules; and
(c) complies with the standards of regulation 1.06A of the Superannuation Industry (Supervision) Regulations 1994.
roll‑in amount, for a superannuation interest, means the total amount of moneys received by the trustees, for the interest, under subsection 387 (1) of the participation schedule.
Scheme means the Scheme continued in existence under section 5 of the Superannuation (State Public Sector) Act 1990 (Qld).
Note: In 2022, the Scheme was known as the Australian Retirement Trust.
Table 2 means Table 2 in clause 2.
1A Meaning of expressions used in this Part and Chapter 9 of the participation schedule
An expression used in clause 2 of this Part and in Chapter 9 of the participation schedule has the same meaning in that clause as it has in that Chapter.
Note The following terms are defined in section 333 of the Deed:
Assembly
basic salary
entitled former spouse
member
salary.
2 Methods and factors for interests (other than QSuper Lifetime Pensions) of new scheme members in the Scheme
For an interest that is in the growth phase in the Scheme mentioned in an item in Table 1, the method or factor mentioned in the item is approved for section 4 of this instrument.
Table 1 Methods and factors
Item | Interest in the growth phase | Method or factor |
1 | An interest that a person has in the Scheme as an employed member of the standard defined benefit category under Chapter 2 of the participation schedule. | In the case of a person who has made an election under paragraph 32(3)(b) of the Government Division Rules — the sum of his or her accumulation account kept under rule 102 of the Government Division Rules and the amount that would be credited to that account if the person were to make a request under subsection 52(8) of the participation schedule. |
| | In any other case — the amount that would be credited under subrule 34(4) of the Government Division Rules to the person’s accumulation account kept under rule 102 of the Government Division Rules if he or she were to make an election under paragraph 32(3)(a) of the Government Division Rules. |
2 | An interest that a person has in the Scheme under section 52 of the participation schedule, because of ceasing to be an employed member before his or her 55th birthday, death or total or permanent disablement. | The sum of the person’s accumulation account kept under rule 102 of the Government Division Rules and the amount that would be credited to that account if he or she were to make a request under subsection 52(8) of the participation schedule. |
3 | An interest that a person, who is aged 35 years or older, has in the Scheme as an employed member of the State 72 category under Chapter 5 of the participation schedule, including any entitlements arising from his or her membership of the State 58 category under Chapter 4 of the participation schedule. | The amount that would be paid, under subrule 34(3) of the Government Division Rules, to the person’s accumulation account kept under rule 102 of the Government Division Rules, if he or she were to request a transfer from the State 72 Category to an accumulation category under rule 28 of the Government Division Rules. |
4 | An interest that a person who is a member of the Assembly has in the Scheme by belonging to the parliament 70 category under Chapter 9 of the participation schedule if the person: (a) has received salary as a member for at least 96 months; and (b) has continuously been a member since the person was first elected | 
where: BS is the basic salary of a member at the relevant date. ABM (accrued benefit multiple) for a person is: 
|
| | where: M is: (a) if the person has received salary as a member for at least 96 complete months but less than 97 complete months at the relevant date — zero; or (b) in any other case — the lesser of: (i) the number of complete months for which the person has received salary as a member, at the relevant date, that occurred after the person has received salary as a member for 96 complete months; and (ii) 144. TOS is the total amount of salary that the person has received as a member up to the relevant date. TBS is the total amount of basic salary that the person has received as a member up to the relevant date. |
| | ABMR is: (a) if 1 or more amounts have been paid under section 364 of the participation schedule for the entitlement of an entitled former spouse of the person — the ratio between: (i) the amount of pension that would have been payable at the relevant date to the person, taking into account the reduction that would have been made under section 366 of the participation schedule for the amount or amounts paid under section 364 of the participation schedule, if the person had ceased to be a member and had become eligible to be paid a pension at that date; and (ii) the amount of pension that would have been payable at the relevant date to the person if the person had ceased to be a member and had become eligible to be paid a pension at that date and no reduction was made to the pension; or |
| | (b) in any other case — 1. |
| | Fy+m is: 
|
| | where: Fy is the valuation factor mentioned in Table 2 that applies at the person’s age in completed years for the person’s gender and period in completed years for which the person has received salary as a member. m is the number of complete months of the person’s age that are not included in the person’s completed /ears of age. Fy +1 is the valuation factor mentioned in Table 2 that would apply for the person’s gender and the period of time in completed years for which the person has received salary as a member if the person’s age were 1 year more than it is at the relevant date. ATV is the roll‑in amount for the interest last recorded before the relevant date in the member information statement issued for the interest. |
5 | An interest that a person who is a member of the Assembly has in the Scheme by belonging to the parliament 70 category under Chapter 9 of the participation schedule if the person: (a) has received salary as a member for at least 96 months; and (b) has ceased to be a member on 1 occasion only, because of which the person was entitled to be paid an amount under subsection 340 (4) of the participation schedule; and (c) no amount has been paid under section 364 of the participation schedule for the entitlement of an entitled former spouse of the person | 
where: BS is the basic salary of a member at the relevant date. ABM (accrued benefit multiple) for a person is:
where: M is: (a) if the person has received salary as a member for an aggregate period of at least 96 complete months but less than 97 complete months at the relevant date — zero; or |
| | (b) in any other case — the lesser of: |
| | (i) the number of complete months for which the person has received salary as a member, at the relevant date, that occurred after the person has received salary as a member for 96 complete months; and (ii) 144. TOS has the meaning given by item 4. TBS has the meaning given by item 4. Fy+m has the meaning given by item 4. PLSA (previously paid lump sum adjustment) for a person’s entitlement under subsection 340 (4) of the participation schedule is: 
where: B is the amount the person would have been entitled to under subsection 340 (4) of the participation schedule if, at the time the person ceased to be a member, a superannuation agreement, flag lifting agreement or splitting order under the Family Law Act had not been made in relation to the interest. |
| | PBS is the basic salary of a member at the time the person ceased to be a member. ATV has the meaning given by item 4. |
6 | An interest that a person who is a member of the Assembly has in the Scheme by belonging to the parliament 70 category under Chapter 9 of the participation schedule if the person: (a) has received salary as a member for at least 96 months; and (b) has ceased to be a member on 1 occasion only, because of which the | 
where: BS is the basic salary of a member at the relevant date. ABMA is the person’s accrued benefit multiple, as adjusted for payments made under section 364 of the participation schedule at the relevant date, worked out in accordance with Method 1, 2 or 3. |
| person was entitled to be paid an amount under subsection 340 (4) of the participation schedule; and (c) one or more amounts have been paid under section 364 of the participation schedule for the entitlement of an entitled former spouse of the person | Method 1 This method applies if 1 amount only (the amount) has been paid under section 364 of the participation schedule for the entitlement of an entitled former spouse: 
where: ABM has the meaning given by item 5. p is: 
where: NMSB is the amount. |
| | PFLV is the value of the interest immediately before the amount was paid, worked out in accordance with item 5. |
| | ABM1 (accrued benefit multiple) for a person when the amount was paid is:
where: M is: (a) if the person has received salary as a member for an aggregate period of at least 96 months but less than 97 months before the amount was paid — zero; or |
| | (b) in any other case — the lesser of: (i) the number of complete months in excess of 96 for which the person has received salary as a member before the amount was paid; and (ii) 144. |
| | TOS is the total amount of salary that the person has received as a member before the amount was paid. TBS is the total amount of basic salary that the person has received as a member before the amount was paid. |
| | Method 2 This method applies if 2 amounts only have been paid under section 364 of the participation schedule for the entitlement of an entitled former spouse: 
where: ABM has the meaning given by item 5. p2 is the factor calculated in accordance with the method for the factor p in Method 1 of this item, modified so that: (a) for NMSB the amount paid is to be calculated by reference to the second amount paid under section 364 of the participation schedule; and |
| | (b) for PFLV the value of the interest is the value at the time immediately before the second payment under section 364 of the participation schedule was made, calculated in accordance with Method 1 of this item. |
| | ABM2 (accrued benefit multiple) for a person when the second amount was paid is: 
where: M is: (a) if the person has received salary as a member for an aggregate period of at least 96 months but less than 97 months before the second amount was paid — zero; or |
| | (b) in any other case — the lesser of: (i) the number of complete months in excess of 96 for which the person has received salary as a member before the second amount was paid; and (ii) 144. |
| | TOS is the total amount of salary that the person has received as a member before the second amount was paid. TBS is the total amount of basic salary that the person has received as a member before the second amount was paid. p1 is the factor calculated in accordance with the method for the factor p in Method 1 of this item. ABM1 has the meaning given in Method 1 of this item. |
| | Method 3 This method applies if 3 amounts only have been paid under section 364 of the participation schedule for the entitlement of an entitled former spouse:  where:
ABM has the meaning given by item 5. |
| | p3 is the factor calculated in accordance with the method for the factor p in Method 1 of this item, modified so that: (a) for NMSB, the amount paid is to be calculated by reference to the third amount paid under section 364 of the participation schedule; and (b) for PFLV, the value of the interest is the value at the time immediately before the third payment under section 364 of the participation schedule was made, calculated in accordance with Method 2 of this item. |
| | ABM3 (accrued benefit multiple) for a person when the third amount was paid is:
where: M is: (a) if the person has received salary as a member for an aggregate period of at least 96 months but less than 97 months before the third amount was paid — zero; or |
| | (b) in any other case — the lesser of: (i) the number of complete months in excess of 96 for which the person has received salary as a member before the third amount was paid; and (ii) 144. TOS is the total amount of salary that the person has received as a member before the third amount was paid. TBS is the total amount of basic salary that the person has received as a member before the third amount was paid. |
| | p2 has the meaning given in Method 2 of this item. ABM2 has the meaning given in Method 2 of this item. |
| | p1 has the meaning given in Method 2 of this item. ABM1 has the meaning given in Method 1 of this item. Fy+m has the meaning given by item 4. |
| | r is the reduction factor for the amount or amounts paid under section 364 of the participation schedule, as follows: (a) if 1 amount only has been paid: 
where: p1 has the meaning given in Method 2 of this item; |
| | (b) if 2 amounts only have been paid: 
where: p1 and p2 have the meaning given in Method 2 of this item; (c) if 3 amounts only have been paid: 
|
| | where: p1 and p2 have the meaning given in Method 2 of this item. p3 has the meaning given in Method 3 of this item. PLSA has the meaning given by item 5. ATV has the meaning given by item 4. |
Table 2 Valuation factors
Person’s age last birthday | Aggregate period person received salary as member of Assembly (complete years) |
Males | Females |
8 | 9 | 10 or more | 8 | 9 | 10 or more |
28 | 19.820 | 19.759 | | 20.196 | 20.137 | |
29 | 19.665 | 19.796 | 20.056 | 20.046 | 20.178 | 20.443 |
30 | 19.475 | 19.717 | 19.928 | 19.862 | 20.106 | 20.318 |
31 | 19.279 | 19.522 | 19.765 | 19.673 | 19.917 | 20.161 |
32 | 19.077 | 19.320 | 19.564 | 19.479 | 19.723 | 19.967 |
33 | 18.868 | 19.112 | 19.356 | 19.278 | 19.523 | 19.767 |
34 | 18.651 | 18.896 | 19.141 | 19.073 | 19.318 | 19.563 |
35 | 18.428 | 18.674 | 18.920 | 18.861 | 19.106 | 19.352 |
36 | 18.194 | 18.441 | 18.689 | 18.640 | 18.886 | 19.132 |
37 | 17.950 | 18.199 | 18.449 | 18.412 | 18.660 | 18.907 |
38 | 17.698 | 17.949 | 18.199 | 18.178 | 18.426 | 18.673 |
39 | 17.435 | 17.685 | 17.936 | 17.934 | 18.182 | 18.429 |
40 | 17.160 | 17.410 | 17.661 | 17.684 | 17.930 | 18.177 |
41 | 16.880 | 17.130 | 17.380 | 17.430 | 17.675 | 17.920 |
42 | 16.596 | 16.845 | 17.094 | 17.173 | 17.416 | 17.660 |
43 | 16.301 | 16.550 | 16.799 | 16.912 | 17.154 | 17.396 |
44 | 16.002 | 16.250 | 16.498 | 16.647 | 16.888 | 17.128 |
45 | 15.698 | 15.945 | 16.193 | 16.381 | 16.619 | 16.858 |
46 | 15.379 | 15.626 | 15.874 | 16.111 | 16.347 | 16.583 |
47 | 15.054 | 15.301 | 15.549 | 15.838 | 16.072 | 16.306 |
48 | 14.729 | 14.974 | 15.219 | 15.566 | 15.796 | 16.027 |
49 | 14.391 | 14.630 | 14.869 | 15.291 | 15.519 | 15.746 |
50 | 14.053 | 14.284 | 14.514 | 15.017 | 15.241 | 15.465 |
51 | 13.735 | 13.955 | 14.176 | 14.747 | 14.967 | 15.186 |
52 | 13.425 | 13.634 | 13.843 | 14.477 | 14.692 | 14.907 |
53 | 13.127 | 13.327 | 13.526 | 14.209 | 14.420 | 14.630 |
54 | 12.859 | 13.052 | 13.245 | 13.951 | 14.158 | 14.364 |
55 | 12.606 | 12.794 | 12.982 | 13.695 | 13.898 | 14.101 |
56 | 12.356 | 12.539 | 12.722 | 13.442 | 13.641 | 13.839 |
57 | 12.117 | 12.294 | 12.471 | 13.198 | 13.391 | 13.585 |
58 | 11.881 | 12.052 | 12.222 | 12.956 | 13.144 | 13.331 |
59 | 11.655 | 11.818 | 11.982 | 12.721 | 12.903 | 13.084 |
60 | 11.449 | 11.604 | 11.759 | 12.509 | 12.682 | 12.855 |
61 | 11.252 | 11.398 | 11.544 | 12.304 | 12.468 | 12.632 |
62 | 11.074 | 11.209 | 11.344 | 12.118 | 12.271 | 12.424 |
63 | 10.936 | 11.058 | 11.179 | 11.978 | 12.117 | 12.255 |
64 | 10.819 | 10.925 | 11.032 | 11.860 | 11.982 | 12.105 |
65 | 10.760 | 10.847 | 10.934 | 11.808 | 11.909 | 12.010 |
66 | 10.803 | 10.864 | 10.925 | 11.877 | 11.947 | 12.018 |
67 | 10.899 | 10.930 | 10.961 | 12.006 | 12.042 | 12.078 |
68 | 11.059 | 11.067 | 11.074 | 12.211 | 12.220 | 12.229 |
69 | 11.336 | 11.336 | 11.336 | 12.555 | 12.555 | 12.555 |
70 | 11.505 | 11.505 | 11.505 | 12.764 | 12.764 | 12.764 |
3 Methods and factors for interests of scheme members in QSuper Lifetime Pensions
(1) For an interest a person has in the Scheme that is in the payment phase and known as a QSuper Lifetime Pension, the method for section 4 of this instrument is worked out using the following formula:
where:
pension amount means the annual amount of the person’s pension at the relevant date.
pension valuation factor means the pension valuation factor worked out under subclause (2) of this clause at the relevant date.
(2) For the purposes of subclause (1), the pension valuation factor at the relevant date is worked out using the following formula:
where:
m means the number of completed months of the following person’s age (the relevant person) that are not included in the completed years at the relevant date:
(a) in the case of a single pension—the person;
(b) in the case of a couple pension—the youngest person of the couple.
y is the relevant person’s age in completed years at the relevant date.
Py is the valuation factor mentioned in the following table that applies to the pension and the relevant person’s age in completed years at the relevant date.
Py+1 means the valuation factor mentioned in the following table that applies to the pension and the relevant person’s age in completed years at the relevant date if the relevant person’s age was taken to be increased by one year.
Valuation factors |
Item | Age | Single pension | Couple pension |
1 | 60 | 16.22286 | 17.52344 |
2 | 61 | 15.97657 | 17.31276 |
3 | 62 | 15.72047 | 17.09291 |
4 | 63 | 15.45419 | 16.86351 |
5 | 64 | 15.17734 | 16.62418 |
6 | 65 | 14.88963 | 16.37458 |
7 | 66 | 14.59073 | 16.11432 |
8 | 67 | 14.28047 | 15.84308 |
9 | 68 | 13.95882 | 15.56054 |
10 | 69 | 13.62588 | 15.26641 |
11 | 70 | 13.28176 | 14.96041 |
12 | 71 | 12.92656 | 14.64228 |
13 | 72 | 12.56012 | 14.31179 |
14 | 73 | 12.18251 | 13.96871 |
15 | 74 | 11.79364 | 13.61290 |
16 | 75 | 11.39304 | 13.24414 |
17 | 76 | 10.98062 | 12.86239 |
18 | 77 | 10.55716 | 12.46785 |
19 | 78 | 10.12336 | 12.06075 |
20 | 79 | 9.68067 | 11.64163 |
21 | 80 | 9.23036 | 11.21129 |
22 | 81 | 8.77460 | 10.77088 |
23 | 82 | 8.31524 | 10.32179 |
24 | 83 | 7.85461 | 9.86571 |
25 | 84 | 7.39527 | 9.40476 |
26 | 85 | 6.94016 | 8.94135 |
27 | 86 | 6.49211 | 8.47814 |
28 | 87 | 6.05447 | 8.01806 |
29 | 88 | 5.63019 | 7.56400 |
30 | 89 | 5.22294 | 7.11836 |
31 | 90 | 4.83639 | 6.68413 |
32 | 91 | 4.47156 | 6.26326 |
33 | 92 | 4.13183 | 5.85820 |
34 | 93 | 3.81404 | 5.46950 |
35 | 94 | 3.51640 | 5.09720 |
36 | 95 | 3.23227 | 4.74090 |
37 | 96 | 2.96142 | 4.39983 |
38 | 97 | 2.70192 | 4.07306 |
39 | 98 | 2.45842 | 3.76019 |
40 | 99 | 2.23050 | 3.46092 |
41 | 100 | 2.01788 | 3.17439 |
42 | 101 | 1.82031 | 2.90141 |
43 | 102 | 1.63742 | 2.64029 |
44 | 103 | 1.46920 | 2.38843 |
45 | 104 | 1.31596 | 2.14476 |
46 | 105 | 1.17922 | 1.88834 |
47 | 106 | 1.06200 | 1.60371 |
48 | 107 | 0.93715 | 1.28074 |
49 | 108 | 0.76875 | 1.02049 |
50 | 109 | 0.49915 | 0.63435 |
Part 3 Local Government Superannuation Scheme
1 Definitions
In this Part:
defined benefit Member has the same meaning as in the Trust Deed.
Scheme means the scheme continued in existence under subsection 1180 (1) of the Local Government Act 1993 (Qld) under the name Local Government Superannuation Scheme.
Trust Deed means the Trust Deed made on 23 June 1998 by the Queensland Local Government Superannuation Board, as amended and in force on the commencement of this Part.
2 Methods and factors for interests of members in the Scheme
For an interest that:
(a) is in the growth phase in the Scheme; and
(b) is mentioned in an item in the following table;
the method or factor mentioned in the item is approved for section 4 of this instrument.
Item | Interest in the growth phase | Method or factor |
1 | An interest that a person has in the Scheme as a defined benefit Member | If the person is aged less than 55 at the relevant date — the value of the benefit that would have been payable to the person under clause 98 of the Trust Deed if the person had been eligible to receive that benefit on the relevant date. |
| | If the person is aged at least 55 but less than 70 at the relevant date — the value of the benefit that would have been payable to the person under clause 92 of the Trust Deed if the person had been eligible to receive that benefit on the relevant date. |
| | If the person is aged at least 70 at the relevant date — the value of the benefit that would have been payable to the person under clause 93 of the Trust Deed if the person had been eligible to receive that benefit on the relevant date. |