Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_5
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 2437376–2441025

5     An interest that a person has, as an old scheme contributor in the SAS Fund who has resigned, and has elected to take an immediate benefit under paragraph 39 (1) (a) of the 1988 Act and has not received his or her additional entitlement under 1 of the paragraphs in subsection 39 (1c) of that Act.  where:
                                                                                                                                                                                                                                                                                                                 SG is the amount in relation to the person calculated in accordance with paragraph 39 (1d) (b) of the 1988 Act.
                                                                                                                                                                                                                                                                                                                 AS is the annual or attributed salary of the person at the date of resignation, adjusted with movements in the Consumer Price Index after that date.
                                                                                                                                                                                                                                                                                                                 M8792 is the number of months of the person's contribution period, within the meaning of the 1988 Act, occurring after 31 December 1987 and before the later of the relevant date and 30 June 1992.
                                                                                                                                                                                                                                                                                                                 Hy+m is the factor calculated by:
                                                                                                                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                                                                                                                 Hy is the valuation factor mentioned in an item in Table 2 in this Part that applies to the person's age in completed years at the relevant date.
                                                                                                                                                                                                                                                                                                                 m is the number of complete months between the person's last birthday before the relevant date and that date.
                                                                                                                                                                                                                                                                                                                 Pn is the person's part time proportion as determined in accordance with the definition of that term in paragraph 39 (1d) (a) of the 1988 Act.