Document ID: chunk:federal_register_of_legislation:F2025L00281:reg:1:p1
Version: federal_register_of_legislation:F2025L00281
Segment Type: reg
Provision Reference: reg 1 (pt 1/2)
Character Range: 8049–14500

1     An interest that a person has in the CSS if:                                                                                                                                         ABC + ASC + PCI + (AP × S × PFy+m,s) +
       (a) the person is an eligible employee; and                                                                                                                                         (ABC × RPFy+m,s) + (SG × LSFy+m,s) – ERDA
       (b) the person is aged 65 years or less at the relevant date.                                                                                                                       where:
                                                                                                                                                                                           ABC is:
                                                                                                                                                                                            (a) the person's accumulated basic contributions as those contributions would be calculated if he or she had ceased being an eligible employee at the relevant date; or
                                                                                                                                                                                            (b) if section 146MB of the 1976 Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (a) of the 1976 Act.
                                                                                                                                                                                           ASC is:
                                                                                                                                                                                            (a) the sum of the following amounts, as those amounts would be calculated if the person had ceased being an eligible employee at the relevant date:
                                                                                                                                                                                            (i) the person's accumulated supplementary contributions;
                                                                                                                                                                                            (ii) the amount of any benefit payable in respect of the person under section 110SN or 130D of the 1976 Act; or
                                                                                                                                                                                            (b) if section 146MB of the 1976 Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (b), (d) or (e) of the Act, as applicable.
                                                                                                                                                                                           PCI is:
                                                                                                                                                                                            (a) the accumulated employer contributions in respect of the person as those contributions would be calculated if he or she had ceased being an eligible employee at the relevant date; or
                                                                                                                                                                                            (b) if section 146MB of the 1976 Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (c) of the 1976 Act.
                                                                                                                                                                                           AP is:
                                                                                                                                                                                            (a) the accrued pension multiple at the relevant date calculated as the pension multiple that would apply under section 56 of the 1976 Act for the person's period of contributory service at the relevant date if he or she were aged 65; or
                                                                                                                                                                                            (b) if section 146MB of the 1976 Act applies to the interest — the accrued pension multiple calculated under paragraph (a), less the sum of any reduction factors (within the meaning given by subsection 146ME (6) of the 1976 Act) that would apply on the person's retirement at age 65.
                                                                                                                                                                                           S is the salary of the person by reference to which a benefit in respect of his or her interest is defined.

                                                                                                                                                                                           PFy+m,s is the factor calculated by:
                                                                                                                                                                                           where:
                                                                                                                                                                                           PFy,s is the valuation factor mentioned in Table 1A (males) or Table 1B (females) in this Part that applies at the person's age in completed years and period of membership in completed years at the relevant date.
                                                                                                                                                                                           m is the number of complete months of the person's age that are not included in the completed years of