Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:6_8
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 6 cl 8
Character Range: 56857–57430

8  At the end of section 23
Add:
 (6) If the member of the scheme makes an election under subsection 124(1), the rate at which retirement pay is payable to the member is the rate worked out by using the formula:
where:
basic rate means the annual rate at which retirement pay would be payable to the member under this section if the member did not make the election.
conversion factor is the factor that is applicable to the member under the determination made by the Authority under section 124A.
surcharge deduction amount means the member's surcharge deduction amount.