Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_69:p14
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 69 (pt 14/17)
Character Range: 1822783–1825309

date.
    m is the number of completed months of the person's age that are not included in the person's age in completed years at the relevant date.
    Ry+1 is the reversion valuation factor mentioned in Table 7 of Division 10.4 that would apply to the person if the person's age in completed years at the relevant date were 1 year more than it is.

11 Method — interest for person entitled to make an election under subsection 20 (2) of the PCS Act
  For section 5 of this instrument, the method mentioned in the following table is approved for an interest that is held by a person who is being paid a pension under the PCS Act if:
 (a) the person is entitled to make an election under subsection 20 (2) of the PCS Act on the relevant date; and
 (b) either:
 (i) the person was a member immediately before 1 February 1990; or
 (ii) the person's pension commenced to be paid before 1 February 1990.

Method
where:
PVls is the value of a member's entitlement assuming that all but the minimum amount required to qualify for some pension payment is converted to a lump sum, calculated in accordance with the formula:

    where:
    P has the meaning given by clause 10.
    Py+m has the meaning given by clause 10.
    UPy+m has the meaning given by clause 10.
    R has the meaning given by clause 10.
    Ry+m has the meaning given by clause 10.
PVp is the value of the person's pension entitlements calculated in accordance with the formula:

    where:
    P has the meaning given by clause 10.
    Py+m has the meaning given by clause 10.
    R has the meaning given by clause 10.
    Ry+m has the meaning given by clause 10.

               Subdivision 10.3.2 Interest relating to a suspension under subsection 25 (2) of the PCS Act

12 Method — interest for a person who became a member on or after 1 February 1990
  For section 5 of this instrument, the method mentioned in the following table is approved for an interest that is held by a person:
 (a) who was not a member immediately before 1 February 1990; and
 (b) who did not receive a pension under the PCS Act that commenced to be paid before 1 February 1990; and
 (c) whose right to receive a pension is currently suspended under subsection 25 (2) of the PCS Act.
Method
where:
P is the annual pension amount that would be payable to the person at the relevant date, if the period of suspension were to conclude at that date.
Py+m is the factor calculated in accordance with the formula:

  where:
  Py is the pension valuation factor mentioned in Table 7 of