Document ID: chunk:federal_register_of_legislation:F2023C01077:reg:1:p2
Version: federal_register_of_legislation:F2023C01077
Segment Type: reg
Provision Reference: reg 1 (pt 2/4)
Character Range: 35182–40408

State, or the annual allowance by way of salary payable to an office holder in respect of that office, as the case may be, at the operative time;
                                                                                                                                                                                                                  (ii) if the person has accrued additional retiring allowance for 1 office only and section 22CD of the Act applies to the interest — 75% of the annual salary payable to a Minister of State, or the annual allowance by way of salary payable to an office holder in respect of that office, as the case may be, at the operative time less the product of the sum of any interim factors for previous splits (calculated in accordance with subsection 22CH (7) of the Act) that would apply after a retiring allowance becomes payable, and that annual salary or annual allowance, as the case may be, at the operative time;
                                                                                                                                                                                                                  (iii) if the person has accrued additional retiring allowance for 2 or more offices and section 22CD of the Act does not apply to the interest — 75% of the highest annual salary or annual allowance by way of salary payable in respect of those offices at the operative time;
                                                                                                                                                                                                                  (iv) if the person has accrued additional retiring allowance for 2 or more offices and section 22CD of the Act applies to the interest — 75% of the highest annual salary payable to a Minister of State, or the annual allowance by way of salary payable to an office holder in respect of those offices, as the case may be, at the operative time less the product of the sum of any interim factors for previous splits (calculated in accordance with subsection 22CH (7) of the Act) that would apply after a retiring allowance becomes payable, and that annual salary or annual allowance, as the case may be, at the operative time.
                                                                                                                                                                                                                 PC is the annual amount, if any, by which the person's retiring allowance is reduced under subsection 20 (3A) of the Act.

                                                                                                                                                                                                                 PFy+m,s is the pension valuation factor calculated in accordance with the following formula:
                                                                                                                                                                                                                 where:

                                                                                                                                                                                                                 PFy,s is the pension valuation factor mentioned, for:
                                                                                                                                                                                                                  (a) the person's age in completed years (y) at the operative time; and
                                                                                                                                                                                                                  (b) the person's period of service in completed years (s) as at the date of the last House of Representatives election before the operative time;

                                                                                                                                                                                                                 in whichever of Tables 1 to 36 is applicable, according to Table A, given the following:
                                                                                                                                                                                                                  (c) the person's gender;
                                                                                                                                                                                                                  (d) whether he or she is a member of the House of Representatives or the Senate or was such a member at the operative time;
                                                                                                                                                                                                                  (e) whether or not, if he or she became entitled to a retiring allowance within the meaning of the Act, he or she