Document ID: chunk:federal_register_of_legislation:F2025L00178:clause:3_35
Version: federal_register_of_legislation:F2025L00178
Segment Type: clause
Provision Reference: sch 3 cl 35
Character Range: 456574–457537

35  Method—no restriction on combination of lump sum and pension that may be taken
 (1) This clause applies if there is no provision in the eligible superannuation plan in which the interest is held restricting the proportion of the interest that may be taken as a lump sum or as a pension.
Note: The method is based on the assumption that 25% of the interest will be taken as a lump sum and 75% of the interest will be taken as a pension.
 (2) The method is:
where:
PVls means the present value of the lump sum that would apply if the whole benefit were to be taken as a lump sum, calculated using the method set out in Part 2 of this Schedule.
PVp means the present value of the pension that would apply if the whole benefit were to be taken as a pension, calculated using the method:
 (a) set out in Part 3 of this Schedule; or
 (b) that applies because of Part 4 of this Schedule.
Note: If Part 4 applies, then a method in Part 2 or 3 of Schedule 5 applies.