Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_104:p2
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 104 (pt 2/3)
Character Range: 1449624–1453315

in the growth phase
Division 5.3 Interests in the payment phase
Division 5.4 Factors
Part 6 Police Association Superannuation Scheme
Division 6.1 Definitions
Division 6.2 Interests in the growth phase
Division 6.3 Interests in the payment phase
Division 6.4 Factors
Part 7 New South Wales State Authorities Superannuation Scheme
Division 7.1 Definitions
Division 7.2 Interests in the growth phase
Division 7.3 Interests in the payment phase
Division 7.4 Factors
Part 8 New South Wales State Superannuation Scheme
Division 8.1 Definitions
Division 8.2 Interests in the growth phase
Division 8.3 Interests in the payment phase
Division 8.4 Factors, probabilities and proportions of optional units for which contributions are required to be made
Part 9 NSW State Authorities Non‑contributory Superannuation Scheme
Part 10 New South Wales Parliamentary Contributory Superannuation Scheme
Division 10.1 Definitions
Division 10.2 Interest held by member
Division 10.3 Other interests
Division 10.4 Factors and probabilities
Schedule 2 Public sector superannuation plans — New South Wales
(section 4)
Part 1 Local Government Superannuation Scheme

1 Definitions
  In this Part:
Early Retirement Age has the meaning given by rule 1.1 of the Rules.
LGSS means the Local Government Superannuation Scheme established by the Trust Deed.
Rules means the rules set out in Schedule 2 to the Trust Deed.
Trust Deed means the Trust Deed dated 30 June 1997, entered into by the Treasurer of New South Wales and LGSS Pty Limited, as amended and in force on the commencement of this Part.

2 Methods and factors for interests of members in the LGSS
  For an interest that:
 (a) is in the growth phase in the LGSS; and
 (b) is mentioned in an item in the following table;
the method or factor mentioned in the item is approved for section 4 of this instrument.

Item  Interest in the growth phase                                                                                                             Method or factor
 1    An interest that a person has in the LGSS if the person has elected to make provision for a benefit provided by rule 5.10 of the Rules.  CFB + EFB × Fy+m
                                                                                                                                               where:
                                                                                                                                               CFB is the amount of the contributor‑financed benefit that would have been payable to the person under paragraph 5.10.8 (a) of the Rules if the person had been eligible to receive that benefit on the relevant date.
                                                                                                                                               EFB is the amount of the employer‑financed benefits that would have been payable to the person under paragraph 5.10.8 (b) of the Rules if the person had been eligible to receive that benefit on the relevant date.
                                                                                                                                               Fy+m is the factor calculated in accordance with the following formula:.
                                                                                                                                               where:
                                                                                                                                               Fy is the valuation factor mentioned in Table 1 of this Part that applies to the period in completed years (y) commencing on the relevant date and ending on