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: 2552731–2556165

1     An interest that a person has as an old scheme member in the SA Parliamentary Superannuation Scheme.  where:
                                                                                                            S is the person's basic salary (expressed as an annual amount), at the relevant date.
                                                                                                            n1 is the lesser of:
                                                                                                             (a) the number of complete months of the person's service at the relevant date; and
                                                                                                             (b) 72.
                                                                                                            n2 is the number of complete months of the person's service at the relevant date in excess of 6 years subject to a maximum of 169.
                                                                                                            n3 is the lesser of:
                                                                                                             (a) the number of complete months of the person's service at the relevant date; and
                                                                                                             (b) 96.
                                                                                                            n4 is the number of complete months of the person's service at the relevant date in excess of 8 years subject to a maximum of 169.
                                                                                                            HS and BS are the amounts that would be calculated under subsection 17 (2) of the Parliamentary Superannuation Act if the person were eligible to receive a pension under section 16 of that Act 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 1A (males) or 1B (females) that applies at the person's age in completed years and the number of complete years of the person's service, at the relevant date.
                                                                                                            m is the number of months of the person's age which are not included in the completed years of age at the relevant date.
                                                                                                            Fy +1 is the valuation factor mentioned in Table 1A (males) or 1B (females) that would apply if:
                                                                                                             (a) the person's age at the relevant date were one year more than it is; and
                                                                                                             (b) the number of complete years of the person's service at the relevant date were one year more than it is.