Document ID: chunk:federal_register_of_legislation:C2024C00866:section:198ma:p2
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 198MA (pt 2/2)
Character Range: 1864607–1866177

increase in the single pension rate MBR amount, which in turn depends (under section 59G) on indexation of the pension MBR amount under section 59C, which involves the indexation factor worked out under section 59D.
Note 2: An indexation factor worked out under section 59D is indirectly relevant to the indexation of an amount provided for by paragraph 30(1)(a). This is because that amount is affected by indexation under section 59G, which in turn depends on indexation under section 59C.
Note 3: Once the brought‑forward CPI indexation amount becomes 0, there will be no further reduction of the indexation factor.
Example: Assume that the indexation factor worked out under section 59D on 20 March 2013 is 1.005. The brought‑forward CPI indexation amount in relation to 20 March 2013 is 0.007 (as there has been no previous reduction). That indexation factor is reduced to 1 on 20 March 2013.
 Further assume that on 20 September 2013 the indexation factor is 1.010. The brought‑forward CPI indexation amount in relation to 20 September 2013 is 0.002. That indexation factor is reduced to 1.008 on 20 September 2013.
 The brought‑forward CPI indexation amount in relation to later indexation days is now 0 so there is no further reduction of the indexation factor.

Definition of brought‑forward CPI indexation amount
 (3) In this section:
brought‑forward CPI indexation amount for a day means:
 (a) 0.007 less any reduction made under subsection (2) for an earlier day; or
 (b) 0 if the brought‑forward PBLCI indexation amount for the day under section 198MB is 0.