Document ID: chunk:federal_register_of_legislation:F2025L00178:clause:7_2
Version: federal_register_of_legislation:F2025L00178
Segment Type: clause
Provision Reference: sch 7 cl 2
Character Range: 612162–614037

2  Method
 (1) The method is:
where:
B means the amount of the annual pension benefit payable in respect of the superannuation interest at the relevant date.
Py+m means the pension valuation factor calculated in accordance with subclause (2).
r means the proportion of the pension that is payable to any surviving spouse of the member spouse on the death of the member spouse, as provided by the trustee under section 90XZB or 90YZR of the Act.
Ry+m means the reversion valuation factor calculated in accordance with subclause (3).
 (2) For the purposes of subclause (1), the pension valuation factor (Py+m) at the relevant date is:
where:
Py means the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date.
m means the number of completed months of the member spouse's age that are not included in the completed years at the relevant date.
Py+1 means the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Py.
 (3) For the purposes of subclause (1), the reversion valuation factor (Ry+m) at the relevant date is:
where:
Ry means the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date.
m means the number of completed months of the member spouse's age that are not included in the completed years at the relevant date.
Ry+1 means the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Ry.