Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_1
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 2491541–2498594

1     An interest that a person has as an old scheme contributor in the SA Police Superannuation Scheme, other than if the person has preserved his or her accrued superannuation benefits under section 34 of the Police Superannuation Act.   where:
                                                                                                                                                                                                                                                S is the person's annual salary at the relevant date.
                                                                                                                                                                                                                                                A is the lesser of:
                                                                                                                                                                                                                                                 (a) 1; and
                                                                                                                                                                                                                                                 (b) the quotient of the person's accrued contribution points at the relevant date and D, where D is:
                                                                                                                                                                                                                                                 (i) 360; or
                                                                                                                                                                                                                                                 (ii) for a person who was accepted as a contributor under the Pensions Act before turning 30 — the number of complete months occurring after the person's date of acceptance as a contributor and before the date when the person turns 60.
                                                                                                                                                                                                                                                Fy+m is the factor calculated in accordance with the following formula:
                                                                                                                                                                                                                                                where:
                                                                                                                                                                                                                                                Fy is the F factor mentioned in Table 1 of this Part that applies at the relevant date to the person's age in completed years.
                                                                                                                                                                                                                                                m is the number of complete months occurring after the person's last birthday before the relevant date and before that date.
                                                                                                                                                                                                                                                Fy+1 is the F factor mentioned in Table 1 of this Part that would apply to the person if the person's age were one year more than the person's age in completed years at the relevant date.
                                                                                                                                                                                                                                                Ann is:
                                                                                                                                                                                                                                                 (a) if the person is male — 14; and
                                                                                                                                                                                                                                                 (b) if the person is female — 15.
                                                                                                                                                                                                                                                M87 is the number of complete months of the person's contribution period occurring after 31 December 1987 and before the relevant date.
                                                                                                                                                                                                                                                Pn is the person's part time proportion at the relevant date determined in accordance with the definition of Pn in subsection 28 (1a) of the Police Superannuation Act.
                                                                                                                                                                                                                                                Gy+m is the factor calculated in accordance with the following formula:
                                                                                                                                                                                                                                                where:
                                                                                                                                                                                                                                                Gy is the G factor mentioned in Table 1 of this Part that applies at the relevant date to the person's age in completed years.
                                                                                                                                                                                                                                                m has the meaning given above.
                                                                                                                                                                                                                                                Gy+1 is the G factor mentioned in Table 1 of this Part that would apply to the person if the person's age were one year more than the person's age in completed years at the relevant date.