Document ID: chunk:federal_register_of_legislation:F2004C00092:reg:56:p2
Version: federal_register_of_legislation:F2004C00092
Segment Type: reg
Provision Reference: reg 56 (pt 2/2)
Character Range: 6447–7818

in Schedule 1 or, in a case to which subsection (3A) applies, the substituted percentage specified in that subsection.
                          '(3A) If the period of contributory service of a person referred to in subsection (3) exceeds 10 years and consists of a number of complete years and a part of a year, the substituted percentage referred to in the definition of factor RP in that subsection is the percentage calculated in accordance with the formula:

                          where:
                          P is the percentage referred to in that definition; and
                          D is the number of days included in that part of a year.'.
                          '(4) Where a person, other than a prescribed person (within the meaning of Division 8 of Part XII) to whom section 217 applies, is entitled to standard age retirement pension by virtue of subsection 55 (2), the annual rate of that pension is the amount per annum of the standard age retirement pension that would be payable to him under this Act if his age on his last day of service had been 65 years, reduced by 2 per centum of that amount for each year, or part of a year, included in the period commencing on the day immediately following his last day of service and ending on the day immediately preceding the day on which the sixty-fifth anniversary of his birth will occur.'