Document ID: chunk:federal_register_of_legislation:F2024C00260:reg:2:p1
Version: federal_register_of_legislation:F2024C00260
Segment Type: reg
Provision Reference: reg 2 (pt 1/2)
Character Range: 445078–450000

2     An interest that a person has in the DFRDB scheme if:                                                                                                                             ARP × APMs × PFy+m,s + C × LSFy+m,s − CPPA
       (a) the person is a contributing member; and                                                                                                                                     where:
       (b) the person is aged less than 55 years; and                                                                                                                                   ARP is the person's annual rate of pay, within the meaning given by subsection 3 (1) of the DFRDB Act.
       (c) the person's total period of effective service, if he or she continued to be a contributing member until the age of 55 years, would be at least 20 years.                    APMs is the person's accrued pension multiple mentioned in Table 3 for the number of complete years in the person's total period of effective service at the relevant date, reduced by the proportion that the amount by which his or her pension would be reduced under section 49D of the DFRDB Act (if he or she were entitled to retirement pay under subsection 23 (1) of that Act and no adjustments were made under subsection 23 (3) of that Act) bears to his or her annual rate of pay, within the meaning of subsection 3 (1) of the DFRDB Act.
                                                                                                                                                                                        PFy+m,s is the factor calculated in accordance with the following formula:
                                                                                                                                                                                        where:
                                                                                                                                                                                        PFy,s is the valuation factor mentioned in whichever of Tables 4A to 4L is applicable that applies to the person having regard to the person's gender, age in completed years, number of complete years in his or her total period of effective service at the relevant date, whether the person is an officer and, if the person is an officer, his or her notional retiring age.

                                                                                                                                                                                        m is the number of complete months of the person's age that are not included in the completed years of age at the relevant date.
                                                                                                                                                                                        PFy+1,s is the valuation factor mentioned in whichever of Tables 4A to 4L is applicable that would apply if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                                                                                        C is the person's contributions, within the meaning given by the DFRDB Act, at the relevant date.
                                                                                                                                                                                        LSFy+m,s is the factor calculated in accordance with the following formula:
                                                                                                                                                                                        where:
                                                                                                                                                                                        LSFy,s is the valuation factor mentioned in whichever of Tables 5A to 5D is applicable that applies to the person having regard to the person's gender, age in completed years, number of complete years in his or her total period of effective service, and whether the person was an officer, at the relevant date.
                                                                                                                                                                                        m has the meaning given above.
                                                                                                                                                                                        LSFy+1,s is the valuation factor mentioned in whichever of Tables 5A to 5D is applicable that would apply if the person's age in completed years at the relevant date were