Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_98:p7
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 7/26)
Character Range: 1638236–1640818

calculation year — the value of the benefit calculated in accordance with the formula set out in subclause (3);
 (c) if the benefit is payable under Division 3A of Part 4 of the NSW Superannuation Act after the person resigned — the value of the benefit calculated in accordance with the formula set out in subclause (4).
 (3) For paragraph (2) (b), the value of the benefit is to be calculated in accordance with the formula:
  where:
  Pension is the amount of fortnightly pension benefit that would be payable to, or in respect of, the person on the date when the person's pension entitlement first arises.
  PFy+t+m is the factor calculated in accordance with the formula:
  where:
  PFy+t is the valuation factor mentioned in Table 4 of Division 8.4 that is applicable, given:
 (a) the person's age in completed years (y+t) on 31 December in the calculation year; and
 (b) the person's gender; and
 (c) the type of pension.
  m is the number of complete months of the person's age that are not included in the person's age in completed years on 31 December in the calculation year.
  PFy+t+1 is the valuation factor mentioned in Table 4 of Division 8.4 that would be applicable to the person if the person's age in completed years on 31 December in the calculation year were 1 year more than it is.
 (4) For paragraph (2) (c), the value of the benefit is to be calculated in accordance with the formula:
where:
Pension1t is the amount of fortnightly pension that would be calculated under subsection 52A (2) of the NSW Superannuation Act in respect of the person, if the person was entitled to a pension under section 52C of that Act on 31 December in the calculation year.
PF1y+t+m is the pension valuation factor calculated in accordance with the formula:
  where:
  PF1y+t is the P1 pension valuation factor mentioned in Table 5 of Division 8.4 that is applicable, given:
 (a) the person's gender; and
 (b) the person's age in completed years on 31 December in the calculation year.
  m is the number of complete months of the person's age that are not included in the person's age in completed years on 31 December in the calculation year.
  PF1y+t+1 is the P1 pension valuation factor mentioned in Table 5 of Division 8.4 that would be applicable if the person's age in completed years on 31 December in the calculation year were 1 year more than it is.
Pension2t is the amount of fortnightly pension that would be calculated under subsection 52A (3) of the NSW Superannuation Act in respect of the person, if the person was entitled to a pension under section 52C of that