Document ID: chunk:federal_register_of_legislation:F2025L00178:clause:3_39
Version: federal_register_of_legislation:F2025L00178
Segment Type: clause
Provision Reference: sch 3 cl 39
Character Range: 460771–462788

39  Method—lump sum comprising different components
 (1) This clause applies if the lump sum payable in respect of the interest comprises a number of components, the value of which will increase by different rates over the minimum deferral period.
 (2) The gross value of the interest is the sum of the gross value of each component comprising the lump sum, calculated as follows:
where:
DB means the nominal value of the component of the lump sum at the relevant date.
Dy+m means the discount valuation factor calculated in accordance with subclause (3).
 (3) For the purposes of subclause (2), Dy+m at the relevant date is:
where:
Dy means the discount valuation factor specified in clause 40 in respect of the lump sum at the relevant date on the basis of the minimum deferral period (in complete years) applying to the lump sum at that date.
m means the number of complete months of the minimum deferral period applicable to the lump sum at the relevant date that are not included in the remaining complete years of that period at that date.
Dy+1 means the discount valuation factor specified in clause 40 that would apply in respect of the lump sum at the relevant date if the minimum deferral period (in complete years) applying to the lump sum at that date were one year more than the minimum deferral period applying to the lump sum at that date.
 (4) For the purpose of calculating the discount valuation factor under subclause (3):
minimum deferral period, in relation to the benefit payable to the member spouse in respect of the interest, means the period until the earliest date at which the benefit may be paid (other than for death or disability).
nominal value, of a component of a lump sum payable in respect of a superannuation interest at a particular date, means the amount of the component payable (excluding any superannuation contributions surcharge payable in respect of the interest) if the member spouse were able to take, and did take, the benefit in respect of the interest at that date.