Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_98:p9
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 9/9)
Character Range: 1566880–1568923

with subsection 43 (6) of the SAS Act;
other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay.
Ce is the total number of days in the period:
 (a) commencing on the person's entry date; and
 (b) ending at the end of the date when the person became entitled, in the event of death, to the benefit provided in accordance with subsection 43 (6) of the SAS Act;
other than any day when the person was not required to make contributions to the SAS Scheme because the person was on leave without pay.
Division 7.3 Interests in the payment phase

9 Method for interests in SAS Scheme
  For an interest:
 (a) that is held by a person who is entitled to be paid a pension under the SAS scheme; and
 (b) that is in the payment phase in the SAS Scheme;
the method set out in the following table is approved for section 4 of this instrument.

Method
where:
P is the amount of person's annual pension at the relevant date.
PFy+m is the factor calculated in accordance with the formula:
where:
PFy is the valuation factor mentioned in whichever of Table 9 or 10 of Division 7.4 is applicable given:
 (a) the person's gender; and
 (b) the person's age in completed years (y) at the relevant date; 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 at the relevant date.
PFy+1 is the valuation factor mentioned in whichever of Table 9 or 10 of Division 7.4 is applicable if the person's age in completed years at the relevant date were 1 year more than it is.

Division 7.4 Factors
Table 1 Valuation factors — females who are under 18 years on entry to SAS Scheme
Employee's age in completed years                                                  Average rate of benefit point accrual (abpa)
abpa 0.04                                                                         0.04< abpa <0.045                             0.045abpa< 0.05  0.05abpa< 0.055  0.055abpa< 0.06  abpa=0.06