Document ID: chunk:federal_register_of_legislation:F2024C00260:reg:1:p1
Version: federal_register_of_legislation:F2024C00260
Segment Type: reg
Provision Reference: reg 1 (pt 1/2)
Character Range: 471567–480101

1                                                                                                                                                                                            An interest that a person has in the DFRDB scheme, if the person:                                                                                                                                  IP × IPFy+m  + NIP × NIPFy+m + IR × IRFy+m + NIR × NIRFy+m
                                                                                                                                                                                              (a) is entitled to retirement pay under section 23 of the DFRDB Act or invalidity pay under Part V of the DFRDB Act; or                                                                           where:
                                                                                                                                                                                              (b) would be entitled to retirement pay under section 23 of the DFRDB Act if the pay had not been suspended under section 61C of that Act; or                                                     IP is the person's annual indexed retirement pay (being the portion of his or her retirement pay that is indexed under Part XA of the DFRDB Act) or invalidity pay at the relevant date, disregarding any suspension under section 61C or 61D of the DFRDB Act.
                                                                                                                                                                                              (c) would be entitled to invalidity pay under Part V of the DFRDB Act if his or her invalidity pay had not been suspended under section 61D of that Act.                                          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.
                                                                                                                                                                                                                                                                                                                                                                                                NIP is the person's:
                                                                                                                                                                                                                                                                                                                                                                                                 (a) annual non‑indexed retirement pay (being the portion of the person's retirement pay that is not indexed under Part XA of the DFRDB Act), disregarding any suspension under section 61C of the DFRDB Act, at the relevant date; or
                                                                                                                                                                                                                                                                                                                                                                                                 (b) annual non‑indexed invalidity pay (being the portion of the person's invalidity pay that is not indexed under Part XA of the DFRDB Act), disregarding any suspension under section 61D of the DFRDB Act, at the relevant date.
                                                                                                                                                                                                                                                                                                                                                                                                NIPFy+m is the non‑indexed single life pension factor calculated in accordance with the following formula:
                                                                                                                                                                                                                                                                                                                                                                                                where:
                                                                                                                                                                                                                                                                                                                                                                                                NIPFy  is the non‑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 has the meaning given above.
                                                                                                                                                                                                                                                                                                                                                                                                NIPFy+1 is the non‑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 39 of the DFRDB Act