Document ID: chunk:federal_register_of_legislation:F2025L00281:reg:2
Version: federal_register_of_legislation:F2025L00281
Segment Type: reg
Provision Reference: reg 2
Character Range: 18504–22200

2     An interest that a person has in the CSS if:                                                                                                                                         ABC + ASC + PCI + (P × Fy+m) – ERDA
       (a) the person is an eligible employee; and                                                                                                                                         where:
       (b) the person is more than 65 years old at the relevant date.                                                                                                                      ABC has the meaning given in item 1.
                                                                                                                                                                                           ASC has the meaning given in item 1.
                                                                                                                                                                                           PCI has the meaning given in item 1.
                                                                                                                                                                                           P is the annual pension (taking into account any reduction that may have applied under subsection 146ME (3) of the 1976 Act) to which the person would be entitled under section 56 of the 1976 Act if he or she:
                                                                                                                                                                                            (a) had ceased to be an eligible employee at the relevant date; and
                                                                                                                                                                                            (b) had not made an election under section 57AA of that Act.
                                                                                                                                                                                           Fy+m is the factor calculated by:
                                                                                                                                                                                           where:
                                                                                                                                                                                           Fy is the age pensioner — 67% reversion — valuation factor for the person's gender mentioned in column 2 or 3 of Table 4 in this Part that applies at the person's age in completed years at the relevant date.
                                                                                                                                                                                           m has the meaning given in item 1.
                                                                                                                                                                                           Fy+1  is the age pensioner — 67% reversion — valuation factor for the person's gender mentioned in column 2 or 3 of Table 4 in this Part that would apply to the person if the person's age in completed years were one year more than it is at the relevant date.
                                                                                                                                                                                           ERDA has the same meaning as in item 1.