Document ID: chunk:federal_register_of_legislation:F2025L00281:reg:1
Version: federal_register_of_legislation:F2025L00281
Segment Type: reg
Provision Reference: reg 1
Character Range: 228401–231872

1     An interest that a person has in the PSS Scheme as a result of being paid a pension, other than a pension under rule 7.1.3, 7.1.4 or 7.3.7 of the Rules.  P × Fy+m
                                                                                                                                                                where:
                                                                                                                                                                P is:
                                                                                                                                                                 (a) for an invalidity pensioner — the annual pension amount payable to the person disregarding any reduction or suspension under Division 11 of Part 10 of the Rules; and
                                                                                                                                                                 (b) in any other case — the annual pension amount payable to the person, other than any part of that pension that is additional pension paid in respect of 1 or more eligible children or partially dependent children.
                                                                                                                                                                Fy+m is the factor calculated in accordance with the following formula:
                                                                                                                                                                where:
                                                                                                                                                                Fy is the valuation factor mentioned in Table 6 that applies given the following:
                                                                                                                                                                 (a) the person's age in completed years at the relevant date;
                                                                                                                                                                 (b) the person's gender;
                                                                                                                                                                 (c) the type of pension.
                                                                                                                                                                m is the number of complete months of the person's age, at the relevant date, that are not included in the person's completed years of age.
                                                                                                                                                                Fy+1 is the valuation factor mentioned in Table 6 that would apply if the person's age in completed years at the relevant date were 1 year more than it is.

Division 2.4 Factors

Table 1A Accrued benefit multiple valuation factors (ABF) — males with first day of membership of PSS Scheme being on or before 30 June 1999

Complete years between first day of membership and relevant date
Age          0         1         2         3         4         5         6         7         8         9         10        11        12        13        14        15        16