Document ID: chunk:federal_register_of_legislation:F2023C01022:clause:5_2
Version: federal_register_of_legislation:F2023C01022
Segment Type: clause
Provision Reference: sch 5 cl 2
Character Range: 493957–494863

2  Method
 (1) The method is:

where:
B is the value of the annual pension benefit payable in respect of the superannuation interest at the relevant date.
Py+m is the pension valuation factor calculated in accordance with subclause (2).
 (2) For subclause (1), the pension valuation factor (Py+m) at the relevant date is:

  where:
Py is the pension valuation factor mentioned in clause 3 of this Schedule that applies to the pension and the remaining term of the pension in complete years at the relevant date.
m is the number of complete months of the remaining term of the pension that are not included in the remaining complete years at the relevant date.
PY+1 is the pension valuation factor mentioned in clause 3 of this Schedule that would apply to the pension if the remaining term of the pension at the relevant date were one year more than the actual remaining term of the pension at that date.