Document ID: chunk:federal_register_of_legislation:F2013L00457:reg:7
Version: federal_register_of_legislation:F2013L00457
Segment Type: reg
Provision Reference: reg 7
Character Range: 3065–4498

7  Reduction of retirement pension
  For subitem 47(5) of the transitional provisions, the amount is calculated as follows:

      Method statement
           Step 1. Identify the annual rate of the retirement pension that was payable at the commencement time.
           Step 2. Calculate an amount using the formula:

            where:
            Fy is the number in Table 2 that applies to the member spouse's gender, and age in whole years, at the commencement time.
            Fy+1 is the number in Table 2 that would apply to the member spouse if the member spouse's age in whole years was one year more than it was at the commencement time.
            m is the number of whole months of the member spouse's age that are not included in the member spouse's age in whole years at the commencement time.
           Step 3. Multiply the amount identified in step 1 by the amount calculated in step 2.
           Step 4. Subtract the transfer amount from the amount calculated in step 3.
           Step 5. Divide the amount calculated in step 4 by the amount calculated in step 2.
           Step 6. Divide the amount calculated in step 5 by the annual rate of the applicable judicial salary at the commencement time. Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
           Step 7. Multiply the amount calculated in step 6 by the annual rate of the applicable judicial salary.