Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_4
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 2179494–2180937

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