Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_4
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 2433475–2437376

4     An interest that a person has, as an old scheme contributor in the SAS Fund who has:                                                                                                                                                                                                                       where:
       (a) resigned with a contribution period, within the meaning of the 1988 Act, of less than 120 months; and                                                                                                                                                                                                 C is the sum of the balance of the person's contribution account under section 20A of the 1988 Act and 21/3 times the lesser of the balance of that account and the amount that would have been the balance of that account had the person contributed at the standard rate of contribution, within the meaning of the 1988 Act, throughout the contribution period, within the meaning of that Act.
       (b) preserved his or her accrued superannuation benefits under paragraph 39 (1) (b) of the 1988 Act.                                                                                                                                                                                                      AS is the annual or attributed salary of the person at the date of resignation, adjusted with movements in the Consumer Price Index after that date.
                                                                                                                                                                                                                                                                                                                 M87 is the number of months of the person's contribution period, within the meaning of the 1988 Act, occurring after 31 December 1987 and before the relevant date.
                                                                                                                                                                                                                                                                                                                 Hy+m is the factor calculated by:
                                                                                                                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                                                                                                                 Hy is the valuation factor mentioned in an item in Table 2 in this Part that applies to the person's age in completed years at the relevant date.
                                                                                                                                                                                                                                                                                                                 m is the number of complete months between the person's last birthday before the relevant date and that date.
                                                                                                                                                                                                                                                                                                                 Pn is the person's part time proportion as determined in accordance with the definition of that term in subparagraph 39 (3) (b) (ii) of the 1988 Act.