Document ID: chunk:federal_register_of_legislation:F2025L00281:reg:2:p2
Version: federal_register_of_legislation:F2025L00281
Segment Type: reg
Provision Reference: reg 2 (pt 2/3)
Character Range: 798648–803030

retiring allowance for 1 office only and section 22CD of the Act does not apply to the interest — 75% of the annual salary payable to a Minister of State, or the annual allowance by way of salary payable to an office holder in respect of that office, as the case may be, at the relevant date;
                                                                                                                                                                                                                  (ii) if the person has accrued additional retiring allowance for 1 office only and section 22CD of the Act applies to the interest — 75% of the annual salary payable to a Minister of State, or the annual allowance by way of salary payable to an office holder in respect of that office, as the case may be, at the relevant date less the product of the sum of any interim factors for previous splits (calculated in accordance with subsection 22CH (7) of the Act) that would apply after a retiring allowance becomes payable, and that annual salary or annual allowance, as the case may be, at the relevant date;
                                                                                                                                                                                                                  (iii) if the person has accrued additional retiring allowance for 2 or more offices and section 22CD of the Act does not apply to the interest — 75% of the highest annual salary or annual allowance by way of salary payable in respect of those offices at the relevant date;
                                                                                                                                                                                                                  (iv) if the person has accrued additional retiring allowance for 2 or more offices and section 22CD of the Act applies to the interest — 75% of the highest annual salary payable to a Minister of State, or the annual allowance by way of salary payable to an office holder in respect of those offices, as the case may be, at the relevant date less the product of the sum of any interim factors for previous splits (calculated in accordance with subsection 22CH (7) of the Act) that would apply after a retiring allowance becomes payable, and that annual salary or annual allowance, as the case may be, at the relevant date.
                                                                                                                                                                                                                 PC is the annual amount, if any, by which the person's retiring allowance is reduced under subsection 20 (3A) of the Act.
                                                                                                                                                                                                                 DPFy+m is the deferred pension valuation factor calculated in accordance with the following formula:
                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                 DPFy is the deferred pension valuation factor mentioned in Table 55 that applies at the person's age in completed years (y) at the relevant date for the person's gender.
                                                                                                                                                                                                                 m is the number of complete months of the person's age at the relevant date that are not included in the person's completed years of age.
                                                                                                                                                                                                                 DPFy+1  is the deferred pension valuation factor mentioned in Table 55 that would apply if the person's age in completed years at the relevant date were 1 year more