Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_2
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 2432741–2440174

2     An interest that a person has, as an old scheme contributor in the SAS Fund, who:                                                                                                                                                                                                                          where:
       (a) was accepted as a contributor before both the commencement of the 1974 Act and the person attaining the prescribed age, within the meaning in subsection 39 (7a) of the 1988 Act; and                                                                                                                 AS is the annual or attributed salary of the person at the date of resignation, adjusted with movements in the Consumer Price Index after that date.
                                                                                                                                                                                                                                                                                                                 A1 is:
       (b) has resigned with a contribution period, within the meaning of the 1988 Act, of 120 months or more and preserved his or her accrued superannuation benefits under paragraph 39 (1) (b) of the 1988 Act.                                                                                               where:
                                                                                                                                                                                                                                                                                                                 A is the lesser of 1 and the following fraction:
                                                                                                                                                                                                                                                                                                                 where C is the contribution points, within the meaning of the 1988 Act, accrued by the person.
                                                                                                                                                                                                                                                                                                                 NM is the number of months between the person's date of acceptance as a contributor and the date at which the person will reach his or her age of retirement (within the meaning of the 1988 Act).
                                                                                                                                                                                                                                                                                                                 CP is the number of months for which the person was an active contributor within the meaning in the 1988 Act.
                                                                                                                                                                                                                                                                                                                 S is the number of months after the person had reached the prescribed age, within the meaning in subsection 39 (7a) of the 1988 Act, for which the person was an active contributor, within the meaning in the 1988 Act.
                                                                                                                                                                                                                                                                                                                 Fy+m is the factor calculated by:
                                                                                                                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                                                                                                                 Fy is the valuation factor mentioned in an item in Table 2 in this Part that applies to the person's age in completed years at the relevant date.
                                                                                                                                                                                                                                                                                                                 m is the number of complete months between the person's last birthday before the relevant date and that date.
                                                                                                                                                                                                                                                                                                                 A92 is the number of contribution points, within the meaning of the 1988 Act, accrued at the relevant date by the person after 30 June 1992.
                                                                                                                                                                                                                                                                                                                 Gy+m is the factor calculated by:
                                                                                                                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                                                                                                                 Gy is the valuation factor mentioned in an item in Table 2 in this Part that applies to the person's age in completed years at the relevant date.
                                                                                                                                                                                                                                                                                                                 m is the number of complete months between the person's last birthday before the relevant date and that date.
                                                                                                                                                                                                                                                                                                                 Ann is 14.2 if the member is male or 15.0 if the member is female.