Document ID: chunk:federal_register_of_legislation:F2024C00260:reg:2
Version: federal_register_of_legislation:F2024C00260
Segment Type: reg
Provision Reference: reg 2
Character Range: 485758–492691

2                                                                                                                                                                                            An interest that a person has in the DFRB scheme if he or she is entitled to a pension under Part V of the DFRB Act, other than a pension that is payable under section 55, 57 or 64 of that Act.  P × IPFy+m + IR × IRFy+m
                                                                                                                                                                                                                                                                                                                                                                                                where:
                                                                                                                                                                                                                                                                                                                                                                                                P is the person's annual pension at the relevant date.
                                                                                                                                                                                                                                                                                                                                                                                                IPFy+m is the factor calculated in accordance with the following formula:
                                                                                                                                                                                                                                                                                                                                                                                                where:
                                                                                                                                                                                                                                                                                                                                                                                                IPFy is the indexed single life valuation factor mentioned in Table 7A or 7B for the person's gender, type of pension and age 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 age at the relevant date.
                                                                                                                                                                                                                                                                                                                                                                                                IPFy+1 is the indexed single life valuation factor mentioned in Table 7A or 7B that would apply if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                                                                                                                                                                                                                                                                                                IR is the annual indexed reversionary pension (being the portion of the reversionary pension payable under section 57 of the DFRB Act, other than any portion of the additional pension paid in respect of any child of the person under paragraph 57 (1) (b) of the DFRB Act, that would be indexed under Part VID of the DFRB Act) that would have been payable at the relevant date to a spouse of the person on the death of that person.
                                                                                                                                                                                                                                                                                                                                                                                                IRFy+m is the indexed reversion factor calculated in accordance with the following formula:
                                                                                                                                                                                                                                                                                                                                                                                                where:
                                                                                                                                                                                                                                                                                                                                                                                                IRFy is the indexed reversion valuation factor mentioned in Table 7A or 7B for the person's gender, type of pension and age in completed years at the relevant date.
                                                                                                                                                                                                                                                                                                                                                                                                m has the meaning given above.
                                                                                                                                                                                                                                                                                                                                                                                                IRFy+1 is the indexed reversion valuation factor mentioned in Table 7A or 7B that would apply if the person's age in completed years at the relevant date were 1 year more than it is.