Document ID: chunk:federal_register_of_legislation:F2022C01064:reg:10:p2
Version: federal_register_of_legislation:F2022C01064
Segment Type: reg
Provision Reference: reg 10 (pt 2/4)
Character Range: 12810–15203

the person in a number of years, specified in the governing rules of the scheme, ending on the day on which the person withdraws from the scheme, calculated in accordance with the governing rules of the scheme applicable as at 30 June 1992:

  where:
  A is the number of years specified in the governing rules of the scheme ending on the day on which the person withdraws from the scheme.
MB has the same meaning as in subsection (5).
MCR, in relation to a member of a superannuation scheme, is the rate at which contributions are paid by the member into a superannuation fund in respect of the scheme for the period from 1 July 2008, being a rate that is expressed, for the purposes of the governing rules of the scheme, as a percentage of the member's annual ordinary time earnings.
MRB means the minimum requisite benefit in respect of the person.
NM, in relation to contributions to a superannuation scheme in respect of a person that are made after 30 June 2008, is:
 (a) in the case of a person who withdraws from the scheme at the end of a period that is a whole number of months after the day on which the first contribution was made—that whole number; and
 (b) in the case of a person who withdraws from the scheme at the end of a period that exceeds a whole number of months after the day on which the first contribution was made—the number that is equal to the sum of:
 (i) that whole number; and
 (ii) the fraction that is calculated by dividing the number of days in the month in which the person withdrew from the scheme, up to and including the day of withdrawal, by the total number of days in that month.
NM1, in relation to contributions to a superannuation scheme in respect of a person that are made between 1 July 1992 and 30 June 2008, is:
 (a) if the number of months from the day on which the first contribution was made to 30 June 2008 is a whole number—that whole number; and
 (b) if the number of months from the day on which the first contribution was made to 30 June 2008 exceeds a whole number—the number that is equal to the sum of:
 (i) the whole number; and
 (ii) the fraction that is calculated by dividing the number of days in the month in which the first contribution was made, from the day the first contribution was made to the end of the last day of the month, by the total number of days in that month.
OTE is:
 (a) if a benefit accruing in respect of