Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_1:p4
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 4/5)
Character Range: 2181243–2185057

would apply if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                 LS is the sum of the person's member contributions paid to the relevant date less the sum of any member contribution components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under the State Act becomes payable in respect of the interest if the person is not entitled to a pension, plus:
                                                                                                                  (a) for a person whose period of service is less than 8 years — 2 1/3 times the amount deducted from the person's salary under section 14 of the State Act in the person's period of service before the relevant date, less the sum of any Commonwealth supplement components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under the State Act becomes payable in respect of the interest if the person is not entitled to a pension; or
                                                                                                                  (b) for a person whose period of service is at least 8 years — 2 1/3 times the amount deducted from the person's salary under section 14 of the State Act in the period of service of 8 years immediately before the relevant date, less the sum of any Commonwealth supplement components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under that Act becomes payable in respect of the interest if the person is not entitled to a pension.
                                                                                                                 LSFy+m,s is the lump sum factor calculated in accordance with the following formula:
                                                                                                                 where:
                                                                                                                 LSFy,s is the lump sum valuation factor mentioned for:
                                                                                                                  (a) the person's age in completed years (y) at the relevant date; and
                                                                                                                  (b) the person's period of service in completed years (s) as at the date of the last Legislative Assembly election before the relevant date;
                                                                                                                 in whichever of Tables 9 to 16 is applicable, according to Table A, given the person's gender and the number of completed years, at the relevant date, since the last election of the Legislative Assembly.
                                                                                                                 m has the meaning given above.
                                                                                                                 LSFy+1,s is the lump sum valuation factor mentioned in whichever of Tables 9 to 16 is applicable that would apply if the person's age in completed years at the relevant date were 1 year more than it is.

Division 6.3 Interests in the payment phase

3 Methods and factors for interests in the State Scheme
  For an interest that is in the payment phase in the State Scheme mentioned in an item in the following table, the method or factor mentioned in the item is approved for section