Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_6
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 2453102–2459224

6     An interest that a person has as a new scheme contributor in the SAS Fund, other than a person who has preserved his or her accrued superannuation benefits under section 28 of the 1988 Act.                                                                                                              where:
                                                                                                                                                                                                                                                                                                                 C is the amount standing to the credit of the person's contribution account under section 20A of the 1988 Act.
                                                                                                                                                                                                                                                                                                                 S is the annual salary of the person at the relevant date.
                                                                                                                                                                                                                                                                                                                 AP is the lesser of 420 (or 360 for a person whose name appears in the Schedule to the Superannuation (Bordertown Memorial Hospital Employees) Regulations 1993 (South Australia)) and the contribution points, within the meaning of the 1988 Act, accrued at the relevant date by the person.
                                                                                                                                                                                                                                                                                                                 Fy+m is the factor calculated by:
                                                                                                                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                                                                                                                 Fy is the valuation factor mentioned in an item in Table 3 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.
                                                                                                                                                                                                                                                                                                                 BH is 1.36 for a person whose name appears in the Schedule to the Superannuation (Bordertown Memorial Hospital Employees) Regulations 1993 (South Australia) and 1 for all other persons.
                                                                                                                                                                                                                                                                                                                 M92 is the number of months of the person's contribution period, within the meaning of the 1988 Act, occurring after 30 June 1992 and before the relevant date.
                                                                                                                                                                                                                                                                                                                 Pn is the person's part time proportion as determined in accordance with the definition of that term in paragraph 27 (2) (b) of the 1988 Act.
                                                                                                                                                                                                                                                                                                                 Gy+m is the factor calculated by:
                                                                                                                                                                                                                                                                                                                 where:
                                                                                                                                                                                                                                                                                                                 Gy is the valuation factor mentioned in an item in Table 3 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.