Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:95:p2
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 95 (pt 2/4)
Character Range: 637575–640369

productivity contributions at the operative time.

PCFy+m,s is the factor calculated in accordance with the following formula:

    where:

    PCFy,s is the productivity contribution valuation factor mentioned in whichever of Tables 3A to 3D is applicable, given the following:

         (a) the person's first day of membership of the PSS scheme;
         (b) the person's gender;
         (c) the person's age in completed years at the operative time;
         (d) the number of complete years between the person's first day of membership and the operative time.
         m has the meaning given above.

    PCFy+1,s is the productivity contribution valuation factor mentioned in Table 3A to 3D that would apply if the person's age in completed years at the operative time were 1 year more than it is.

ATA is the accumulated transfer amount, or if there are 2 or more such amounts, the sum of those amounts, in respect of the person at the operative time.

ERDA (see Rule 16.1.2)

Preserved benefit member eligible for benefit under Rule 8.2.1A or paragraph 8.2.1B(a)
16.8.2 This rule applies to the interest of a preserved benefit member who is eligible to receive a benefit under Rule 8.2.1A or paragraph 8.2.1B(a).  The value of the interest is to be worked out using the following formula:

where:

UDB is the unfunded preserved benefit included in the preserved benefit which, under Rule 8.6.2 of these Rules, increases in line with movements in the consumer price index, as at the operative time.

UDBFy+m is the factor calculated in accordance with the following formula:

    where:

    UDBFy is the unfunded valuation factor, mentioned in Table 4 that applies at the person's age in completed years, at the operative time, for the person's gender.

    m is the number of complete months of the person's age, at the operative time, that are not included in the person's completed years of age.

    UDBFy+1 is the unfunded valuation factor mentioned in Table 4 that would apply if the person's age in completed years at the operative time were 1 year more than it is.

FDB is the sum of the accumulated member contributions and the accumulated productivity contributions included in the preserved benefit which, under Rule 8.6.1 of these Rules, increases in line with the fund crediting rate, as at the operative time.

FDBFy+m is the factor calculated in accordance with the following formula:

    where:

    FDBFy is the funded valuation factor mentioned in Table 4 that applies at the person's age in completed years, at the operative time, for the person's gender.

    m has the meaning given above.

    FDBFy+1 is the funded valuation factor mentioned in Table 4 that would apply if the person's age in completed years at the operative time were 1 year more than it is.