Document ID: chunk:federal_register_of_legislation:F2011C00487:front:0:p9
Version: federal_register_of_legislation:F2011C00487
Segment Type: other
Provision Reference: 
Character Range: 20199–22838

factor mentioned in Table 3B in Schedule 2, that would be applicable, when the associate deferred pension first becomes payable, if the non‑member spouse's gender and age in completed years were one year more than they are at that time (represented by y + 1).

         m is the number of completed months of the non‑member spouse's age, when the pension first becomes payable, that are not included in the non‑member spouse's age in completed years.

         Note   The associate deferred pension does not include a reversionary component.
Step 4   Divide the unfunded component in relation to the transfer amount, as increased in step 2A, by the pension factor worked out in step 3.

         The result is the annual rate of the associate deferred pension.

 (2) However, if it is not possible to work out a pension factor using step 3 in subsection (1), the pension factor is to be worked out by an actuary appointed by CSC for this section.

2.08 Amount payable  if non‑member spouse dies before benefits become payable

  For paragraph 146MC (5) (b) of the Act, the amount payable in respect of the death of a non‑member spouse is a lump sum equal to the unfunded component of the transfer amount, increased in the way described in step 2A in subsection 2.07 (1) if associate deferred benefits had become payable at the date of death.

Note   This amount is payable in addition to any amount that becomes payable under paragraph 146MC (5) (a) of the Act.

2.09 Commutation of small associate pension — minimum amount

 (1) For subsection 146MD (1) of the Act, the amount is $1 300.

 (2) The amount is to be indexed in the same way, and at the same time, as a standard pension is indexed under Part X of the Act.

2.10 Commutation of small associate pension — lump sum payable on election

  For paragraph 146MD (3) (b) of the Act, the amount of the lump sum is an amount equal to the unfunded component of the transfer amount, increased in the way described in step 2A in subsection 2.07 (1).

2.11 Reduction of associate deferred benefits where original interest is entitlement to associate deferred benefits

  For subsection 146MF (2) of the Act, associate deferred benefits are to be reduced as follows:

Step 1  Identify the funded and unfunded components of the transfer amount at the operative time.
Step 2  Increase the funded component of the transfer amount as if the component were an amount calculated under paragraph 146MC (1) (a) of the Act and paid when the associate deferred benefits become payable.
Step 3  Increase the unfunded component of the transfer amount as if it were the lump sum amount calculated in