Document ID: chunk:federal_register_of_legislation:F2015C00404:reg:6:p1
Version: federal_register_of_legislation:F2015C00404
Segment Type: reg
Provision Reference: reg 6 (pt 1/2)
Character Range: 26796–29413

6                                                                                Between 1 July 2014 and 30 June 2015      9.5

 (2C) For the definition of percentage in subclause (2), the percentage in respect of all members for a pay period ending on or after 1 July 2015 is the charge percentage specified in the table in subsection 19(2) of the Superannuation Guarantee (Administration) Act 1992 for the financial year in which the pay period ends.
 (3) Where, in a pay period, a member whose total period of effective service is not less than 20 years renders 14 days effective service, then, subject to subclause (7), the amount of productivity benefit (exclusive of interest) to be credited to that member in respect of that pay period is calculated using the formula:

where ARP is the annual rate of pay applicable to the member.
 (4) Where, in a pay period, a member renders a period of effective service of less than 14 days, then, subject to subclause (7), the amount of productivity benefit (exclusive of interest) to be credited to that member in respect of that pay period is calculated in accordance with the formula

  where:
B is the amount of benefit in respect of a member in respect of the pay period ascertained using the formula in subclause (2) or (3) as the case may be; and
D is the number of days effective service in the pay period.
 (5) Where, in a pay period, a member renders 14 days service, then, subject to subclause (7), the amount of productivity benefit (being interest) to be credited to that member in respect of that pay period is calculated using the formula:

  where:
B is the amount of benefit (including interest) that has accrued in respect of the member immediately before commencement of the pay period; and
I is:
 (a) if the pay period ends on or before 31 December 2014—the factor specified in the Schedule for the calendar year in which the pay period ends; or
 (b) if the pay period ends on or after 1 January 2015—the annual interest rate for the calendar year in which the pay period ends, divided by 100.
Note: Annual interest rate is defined in subclause 3(1).
 (6) Where, in a pay period, a member renders a period of service of less than 14 days, then, subject to subclause (7), the amount of productivity benefit (being interest) to be credited to that member in respect of that pay period is calculated using the formula:

  where:
B is the amount of benefit (including interest) that has accrued in respect of the member immediately before commencement of the pay period; and
D is the number of days service in the pay period; and
I is:
 (a) if the