Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_1
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 2415375–2420664

1     An interest that a person has, as an old scheme contributor in the SAS Fund, other than as a member who preserved his or her accrued superannuation benefits under section 39 of the 1988 Act.                                                                                                             where:
                                                                                                                                                                                                                                                                                                                 S is the annual salary of the person at the relevant date.
                                                                                                                                                                                                                                                                                                                 A is the lesser of 1 and the quotient of the contribution points, within the meaning of the 1988 Act, accrued by the person at the relevant date, and D, where D is 360 or, for a person accepted as a contributor under the 1974 Act before reaching the age of 30 years, 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).
                                                                                                                                                                                                                                                                                                                 Fy+m is the factor calculated by:
                                                                                                                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                                                                                                                 Fy is the valuation factor mentioned in an item in Table 1 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 1 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 person is male or 15.0 if the person is female.