Document ID: chunk:federal_register_of_legislation:F2024C00260:reg:6:p1
Version: federal_register_of_legislation:F2024C00260
Segment Type: reg
Provision Reference: reg 6 (pt 1/2)
Character Range: 464930–469942

6     An interest that a person has in the DFRDB scheme if:                                                                                                                             where:
       (a) the following circumstances apply:                                                                                                                                           LS is determined in accordance with the following formula:
       (i) the person is a contributing member;                                                                                                                                         where:
       (ii) the person is aged 55 years or more;                                                                                                                                        ARP is the person's annual rate of pay, within the meaning given by subsection 3 (1) of the DFRDB Act.
       (iii) the person would not have been, if he or she had resigned, or would not be, if he or she were to resign, entitled to retirement pay under section 23 of the DFRDB Act; or  APMs is the person's accrued pension multiple mentioned in Table 3 that applies or applied for the number of complete years of the person's total period of effective service at the relevant date.
       (b) the following circumstances apply:                                                                                                                                           VN is determined in accordance with the following formula:
       (i) the person is a contributing member;                                                                                                                                         where:
       (ii) the person is aged less than 55 years;                                                                                                                                      ARP has the meaning given above.
       (iii) the person's total period of effective service, if he or she continued to be a contributing member until the age of 55 years, would be less than 20 years.                 APMs has the meaning given above.
                                                                                                                                                                                        CAF is the person's commutation adjustment factor, being 12.47 if the person is male or 15.68 if the person is female.
                                                                                                                                                                                        IPF is the person's indexed pension factor, being 12.2423 if the person is male or 14.0096 if the person is female.
                                                                                                                                                                                        IRPFy is the indexed reversion valuation factor mentioned in the table in clause 7 of Schedule 2 to the Regulations that applies or applied for the person's gender and age in completed years at the relevant date.
                                                                                                                                                                                        NIRPFy is the non‑indexed reversion valuation factor mentioned in the table in clause 6 of Schedule 2 to the Regulations that applies or applied for the person's gender and age in completed years at the relevant date.
                                                                                                                                                                                        fy+m is the person's lump sum valuation factor at the relevant date calculated in accordance with subclause 3 (2) of the Schedule 2 to the Regulations, modified so that:
                                                                                                                                                                                         (a) the reference to 'member's retirement age' in the definition of fy in subclause 3 (2) of Schedule 2 to the Regulations is a reference to 'age 65'; and
                                                                                                                                                                                         (b) the definition of fy+1 is substituted by the following definition: 'fy+1 is the lump sum valuation factor mentioned in clause 4 of this Schedule that would apply if the period of time in complete years until the member spouse reaches age 65 at the relevant date were one year more than it is.'; and
                                                                                                                                                                                         (c) the reference to 'Remaining term until retirement' in the table in clause 4 of