Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_98:p25
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 25/26)
Character Range: 1687915–1690454

the Superannuation Industry (Supervision) Regulations 1994) if the person's retirement had occurred on the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act.
  P is the amount of annual pension:
 (a) that would be payable to the person under section 52Z of the NSW Superannuation Act on the person's retirement (within the meaning given by subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994) if the person's retirement had occurred on the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
 (b) that is in addition to any pension being paid to the person.
  APFy+m has the meaning given by the method set out in clause 19, modified so that a reference to 'the relevant date' in that definition is a reference to 'the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act'.
  PF has the meaning given by the method set out in clause 20, modified so that a reference to 'the relevant date' in that definition is a reference to 'the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act'.
  DFy+m has the meaning given by the method set out in clause 21, modified so that a reference to 'the relevant date' in that definition is a reference to 'the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act'.
TPCIe is the total amount of the person's contributions and interest, being the total amount that would be required to be calculated under subsection 33B (4) of the NSW Superannuation Act at the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act.
Division 8.3 Interests in the payment phase

24 Method for interests in SS Scheme
  For an interest:
 (a) that is held by a person who is entitled to be paid a pension under the SS Scheme; and
 (b) that is in the payment phase in the SS Scheme;
the method set out in the following table is approved for section 4 of this instrument.

Method
where:
P is the amount of annual pension benefit that is payable to the person in respect of the interest at the relevant date.
PFy+m is the amount calculated in accordance with the formula:
  where:
  PFy is the valuation factor mentioned in Table 8 of Division 8.4 that is applicable, given:
 (a) the person's age in completed years (y) at the relevant date; and
 (b) the person's gender; and
 (c) the type of pension.
  m is the number of complete months of