Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_98:p21
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 21/26)
Character Range: 1670239–1672752

is the amount of annual pension (if any) that would be payable to the person under section 52S of the NSW Superannuation Act if he or she had applied for payment of the pension at whichever date mentioned in paragraph (a) or (b) of the definition of LS applies to the person.
  PFy+m has the meaning given by the method set out in clause 15, modified so that a reference to 'the relevant date' in that definition is a reference to whichever date mentioned in paragraph (a) or (b) of the definition of LS applies to the person.
  TPCIe is the total amount of the person's contributions and interest, being the total amount that would be required to be calculated under subsection 33B (4) of the NSW Superannuation Act at whichever date mentioned in paragraph (a) or (b) of the definition of LS applies to the person.

Subdivision 8.2.5 Deferred benefits — Division 3D of Part 4 of the NSW Superannuation Act

18 Method for interest in SS Scheme
  For an interest:
 (a) that is held by a person who is entitled to a benefit which has been preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
 (b) that is in the growth phase in the SS Scheme;
the method set out in the following table is approved for section 5 of this instrument.

Method
where:
LS is the amount of the lump sum benefit that would be payable to the person:
 (a) under section 52Z of the NSW Superannuation Act on the person's retirement (within the meaning given by subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994); and
 (b) if the person's retirement was on the relevant day.
P is the annual rate of pension that:
 (a) would be payable to the person under section 52Z of the NSW Superannuation Act on his or her retirement (within the meaning given by subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994) if the person's retirement were on the relevant date; and
 (b) is in addition to any pension being paid to the person.
APFy+m has the meaning given by clause 19.
PF has the meaning given by clause 20.
DFy+m has the meaning given by clause 21.
R is the reduction factor under clause 22.

19 Meaning of APFy+m
  In clause 18:
APFy+m is:
 (a) if the person is 60 years or more at the relevant date — 0; or
 (b) in any other case — the annuity factor calculated in accordance with the formula:
  where:
  APFy is the annuity factor mentioned in Table 9 of Division 8.4 that is applicable given the person's age in completed years (y) at the relevant date.