Document ID: chunk:federal_register_of_legislation:F2011C00487:reg:7
Version: federal_register_of_legislation:F2011C00487
Segment Type: reg
Provision Reference: reg 7
Character Range: 92671–98546

7                                                                                                                                               An interest that a person has in the CSS if:                                                                                                                                            ABC + ASC + PCI + (P × Fy+m) − ERDA
                                                                                                                                                 (a) the person has made an election under section 110T of the Act to postpone the payment of his or her retirement benefits; and
                                                                                                                                                 (b) in that election, the person specified, under subsection 110TA (2) of the Act, that payment of his or her additional age retirement pension was also to be postponed; and          where:

                                                                                                                                                                                                                                                                                                                                        ABC is:
                                                                                                                                                                                                                                                                                                                                         (a) the person's accumulated basic contributions as those contributions would be calculated if they had become payable at the operative time; or
                                                                                                                                                                                                                                                                                                                                         (b) if section 146MB of the Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (a) of the Act.

                                                                                                                                                                                                                                                                                                                                        ASC is:
                                                                                                                                                                                                                                                                                                                                         (a) the sum of the following amounts, as those amounts would be calculated if they had become payable at the operative time:
                                                                                                                                                                                                                                                                                                                                         (i) the person's accumulated supplementary contributions;
                                                                                                                                                                                                                                                                                                                                         (ii) the amount of any benefit payable in respect of the person under section 110SN or 130D of the Act; or
                                                                                                                                                 (c) those retirement benefits, including the person's additional age retirement pension, have yet to become payable under section 110TB of the Act.                                     (b) if section 146MB of the Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (b), (d) or (e) of the Act, as applicable.

                                                                                                                                                                                                                                                                                                                                        PCI has the meaning given in item 5.

                                                                                                                                                                                                                                                                                                                                        P has the meaning given in item 5.

                                                                                                                                                                                                                                                                                                                                        Fy+m has the meaning given in item 2.

                                                                                                                                                                                                                                                                                                                                        ERDA has the meaning given in item 1.