Document ID: chunk:federal_register_of_legislation:C2024C00651:section:22ci
Version: federal_register_of_legislation:C2024C00651
Segment Type: section
Provision Reference: s 22CI
Character Range: 164190–164848

22CI  Operative time during growth phase—reduction where original interest is entitlement to associate deferred annuity
 (1) This section applies if:
 (a) at the operative time, standard allowance or annuity is not payable in respect of the original interest; and
 (b) the original interest is an entitlement to an associate deferred annuity.
 (2) The annual rate of that associate annuity (when it becomes payable) is reduced to the amount calculated under the Orders.
Note: Although an associate immediate annuity becomes payable at the operative time, an associate deferred annuity will often not become payable until some time after the operative time.