Document ID: chunk:federal_register_of_legislation:C2004A03971:section:365
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 365
Character Range: 120655–121566

365

where:

Pı is the percentage referred to in paragraph (a); and

D is the number of days included in that part of a year; and

P2 is equal to:

(i) if the person's period of prospective service is not less than 20 years—1.4; or

(ii) if the person's period of prospective service is less than 20 years—2.8.".

Election where benefit not reduced on medical grounds

51. Section 68 of the Principal Act is amended:

    (a) by omitting subsection (3) and substituting the following subsection:

    "(3) Where a person makes an election under subsection (1) and the period of contributory service of the person exceeds 30 years, the annual rate of the pension to which the person is entitled is:

       (a) if that period of contributory service consists of 30 complete years and a part of a year—such percentage of the person's final annual rate of salary as is calculated in accordance with the formula: