Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_69:p13
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 69 (pt 13/17)
Character Range: 1820476–1823012

was a member immediately before 1 February 1990; or
 (ii) the person's pension commenced to be paid before 1 February 1990.

Method
where:
P is the annual pension amount payable to the person at the relevant date.
Py+m is the factor calculated in accordance with the formula:

  where:
    Py is the pension valuation factor mentioned in Table 7 of Division 10.4 that applies given the person's gender and the person's age in completed years at the relevant date.
    m is the number of completed months of the person's age that are not included in the person's age in completed years at the relevant date.
    Py+1 is the pension valuation factor mentioned in Table 7 of Division 10.4 that would apply to the person if the person's age in completed years at the relevant date were 1 year more than it is.
CP is:
(a) for a person who has elected under section 20 of the PCS Act to convert pension entitlements to a lump sum payment — the difference between the annual pension amount that would have been payable to the member at the relevant date if he or she had not made that election and the annual pension amount payable to the member at the relevant date; or
(b) for a person who has not elected under section 20 of the PCS Act to convert pension entitlements to a lump sum payment — 0.
UPy+m is the factor calculated in accordance with the formula:

  where:
    UPy is the unindexed pension valuation factor mentioned in Table 8 of Division 10.4 that applies given the person's gender and the person's age in completed years at the relevant date.
    m is the number of completed months of the person's age that are not included in the person's age in completed years at the relevant date.
    UPy+1 is the unindexed pension valuation factor mentioned in Table 8 of Division 10.4 that would apply to the person if the person's age in completed years at the relevant date were 1 year more than it is.
R is the annual pension amount that would be payable to any surviving spouse or de facto partner of the person if the person died on the relevant date.
Ry+m is the factor calculated in accordance with the formula:

  where:
    Ry is the reversion valuation factor mentioned in Table 7 of Division 10.4 that applies given the person's gender and the person's age in completed years at the relevant date.
    m is the number of completed months of the person's age that are not included in the person's age in completed years at the relevant date.
    Ry+1 is the reversion valuation factor mentioned in Table 7 of Division 10.4