Document ID: chunk:federal_register_of_legislation:C2022C00288:section:82r:p2
Version: federal_register_of_legislation:C2022C00288
Segment Type: section
Provision Reference: s 82R (pt 2/3)
Character Range: 136866–139342

have regard to actuarial principles and practice and shall take into account all relevant matters, including:
 (a) the date on which the member became a contributor;
 (b) the amount paid to the Board;
 (c) the amounts respectively paid to the Fund and to the Commonwealth under subsections (3) and (4);
 (d) the age of the member at the date on which he became a contributor;
 (e) the respective rates of mortality, invalidity and withdrawal from the Fund that are assumed, for the purposes of the advice, to apply in relation to the class of contributors in which the member is included; and
 (f) the rates of interest that it is assumed, for the purposes of the advice, will be earned by the assets of the Fund.
 (7) If the member became a member after having attained the age of 20 years, the period of his service for pension shall, for the purposes of pension under this Act, be deemed to be increased by a period equal to:
 (a) the period determined by the Board in accordance with subsection (5); or
 (b) the period that commenced on the day on which he attained the age of 20 years and ended on the day immediately before he became a member;
whichever is the shorter period.
 (8) If:
 (a) under the superannuation scheme applicable in relation to any previous employment of the person, the whole or any part of the employer component of a transfer value was payable to the member upon the termination of that employment irrespective of whether he engaged in further employment; and
 (b) the member ceases to be a member and a refund of the contributions paid by him to the Fund, with or without any additional amount, is payable to or in respect of him;
so much of the amount paid to the Commonwealth under subsection (4) as is equal to the employer component of the transfer value or to that part of that employer component, as the case may be, is payable to or in respect of him out of the Fund.
 (9) Where an amount is payable out of the Fund under subsection (8), the Commonwealth shall pay an amount equal to that amount to the Fund.
 (10) For the purposes of this section:
 (a) the employee component of a transfer value payable to or in respect of a person is the part (if any) of that transfer value that was based upon contributions made by the person; and
 (b) the employer component of a transfer value payable to or in respect of a person is the part of that transfer value that was based upon contributions by an employer or employers of the person.
 (11)