Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:16:p49
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 16 (pt 49/106)
Character Range: 244455–247399

were not a no‑TFN member or zero contributions member respectively.

A Fortnightly Contribution Accrual is calculated using the following formula:

where:

                  Factor for a member who was a permanent full‑time employee or a temporary full‑time employee on his/her last birthday is 1; and

                   for a member who was a permanent part‑time employee or a temporary part‑time employee on  his/her last birthday is the ratio that the number of part‑time hours worked by the member on his/her last birthday bears to the number of hours a permanent full‑time employee performing duties of a similar nature would have worked on that day.

                   Part‑time hours worked in this definition:

                      (a) include any hours not being worked that attract a partial invalidity pension or compensation payment; and

                      (b) if the member did not work on his/her last birthday, are the part‑time hours he/she would have worked if he/she had been on duty; and

                      (c) if the member was on leave of absence without pay that is an excluded period of leave of absence on his/her last birthday, are the part time hours he/she worked, or would have worked if he/she had been on duty, on the last birthday with his/her permanent employer.
                 Note:  A full time employee on an excluded period of leave of absence remains a permanent or a temporary full‑time employee for the purposes of the Rules.  A factor of 1 therefore applies in respect of the period of leave of absence if all requirements about contributions have been met, regardless of the hours worked with the temporary employer.
                  Contribution Paid is the amount of contributions paid, or payable, by the member on the contribution due day, or on each contribution due day that a member is a no‑TFN member or a zero contributions member, 0%; and

                  Annual Contribution Salary is the member's fortnightly contribution salary on his/her last birthday multiplied by:

                      (i) if the member was a permanent full‑time employee or a temporary full‑time employee — 26; or

                      (ii) if the member was a permanent part‑time employee or a temporary part‑time employee, in receipt of partial invalidity pension — 26; or

                      (iii) if the member was a permanent part‑time employee or a temporary part‑time employee, not in receipt of partial invalidity pension — 26 and by the ratio that the hours a permanent full‑time employee performing duties of a similar nature to the member would have worked bears to the part‑time hours worked (including hours not being worked that attract a compensation payment) by the member on that day.

   The following chart shows the approximate percentage of average salary that would be accrued if contributions were paid at the same rate for a whole year by a full‑time regular member
   %