Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_1
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 2608368–2610528

1     An interest that a person has as a Member of the Sunsuper fund if the person is entitled to a benefit under Part 4 of the Secondary Deed.  DB + VA + PVA
                                                                                                                                                 where:
                                                                                                                                                 DB is the value of the component of the interest that is a defined benefit interest within the meaning of the Regulations, determined in accordance with the method set out in Schedule 2 to the Regulations.
                                                                                                                                                 VA is the value of the person's fully vested accumulation benefit, if any, being the sum of the balances of the person's Additional Voluntary Contribution Account and the person's Rollover Account at the relevant date.
                                                                                                                                                 PVA is the value of the person's partially vested accumulation benefit, if any, determined in accordance with the method set out in Schedule 3 to the Regulations, with the following modifications:
                                                                                                                                                  (a) V is taken to be zero;
                                                                                                                                                  (b) A is the amount standing to the credit of the person's Additional Retirement Credit Account at the relevant date;
                                                                                                                                                  (c) fy is the vesting factor mentioned in Table 1 of this Part that applies at the relevant date to the person's age in completed years.

Table 1 Vesting factors

Age  Vesting Factor     Age  Vesting Factor