Document ID: chunk:federal_register_of_legislation:F2025L00178:reg:3
Version: federal_register_of_legislation:F2025L00178
Segment Type: reg
Provision Reference: reg 3
Character Range: 170641–172425

3                                                                        commences in a financial year and ends during the following financial year (the second financial year)  the rate calculated using the method determined, as described in paragraph (4)(c), under subsection (4) for the second financial year.

 (4) The Australian Government Actuary may, by legislative instrument, determine one or more of the following rates or methods for a financial year:
 (a) a rate that is 2.25 percentage points above the percentage change in the original estimate of full‑time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics, for the 12 months ending with the November quarter of the previous financial year;
 (b) a method that provides for the calculation of a rate for the financial year by reference to the rate described in paragraph (a) for the financial year;
 (c) a method that provides for the calculation of a rate for the financial year by reference to the following rates:
 (i) the rate described in paragraph (a) for the previous financial year;
 (ii) the rate described in paragraph (a) for the financial year;
Note: Assume a rate is needed for an adjustment period straddling 2 financial years: 2024‑25 and 2025‑26. The rate is calculated using a method determined for paragraph (c) of this subsection. The rate referred to in subparagraph (c)(i) is based on the percentage change in the 12 months ending with the November quarter of 2023‑24. The rate referred to in subparagraph (c)(ii) is based on the percentage change in the 12 months ending with the November quarter of 2024‑25.

Division 2—Superannuation interest in growth phase at date of service of agreement or date of order

Subdivision A—Preliminary