Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_99:p1
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 99 (pt 1/2)
Character Range: 2597139–2601083

99   2.766          2.584                 2.766             2.584    2.599   2.542

Schedule 7 Public sector superannuation plans — Tasmania
(section 4)

Note   This heading has been reserved for future use.
Schedule 8 Public sector superannuation plans — Australian Capital Territory
(section 4)

Note   This heading has been reserved for future use.
Schedule 9 Public sector superannuation plans — Northern Territory
(section 4)

Note   This heading has been reserved for future use.
Schedule 10 Other superannuation plans
(section 4)
Part 22 Construction and Building Unions Superannuation Fund

1 Definitions
  In this Part:
Cbus means the Construction and Building Unions Superannuation Fund established by the Trust Deed.
Early Retirement Age has the meaning given by sub‑clause 1.1 of the Rules.
Rules means the rules set out in Annexure 1 of the Pool B Sub‑Division Rules in the Defined Benefits Section of the Trust Deed.
Trust Deed means the Trust Deed dated 29 May 1984, entered into by United Super Pty Ltd, as in force on 12 May 2023.

2 Methods and factors for interests of members in Cbus
  For an interest that:
 (a) is in the growth phase in Cbus; 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 Cbus if the person has elected to make provision for a benefit provided by sub‑clause 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 sub‑clause 5.10(j)(i) 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 sub‑clause 5.10(j)(ii) 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 the date when the person will reach the person's Early Retirement Age.
                                                                                                                                                 m is the number of complete months commencing on the relevant date and ending on the date when the person will reach the person's Early Retirement Age that are not included in the completed years mentioned in the definition of the factor Fy.
                                                                                                                                                 Fy+1 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 1