Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:55:p60
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 55 (pt 60/83)
Character Range: 554440–557415

become part of the PSS Fund, or is satisfied that such a transfer will be made.

Calculation of a CSS Transfer Multiple
14.2.2 A CSS Transfer Multiple is the sum of:
         (a) the primary element (see Rule 14.2.3) which is applicable in respect of any member who transferred from the CSS scheme to the PSS scheme; and
         (b) the accrual element (see Rule 14.2.5), if any, which is applicable to any member whose first day of membership is on or after 1 March 1996.

Primary element of CSS Transfer Multiple

14.2.3 The primary element is calculated using the following formula:

where:

                   CSS Transfer Credit is the sum of:
                      (a) the amount of the member's paid accumulated contributions under the Superannuation Act 1976:
                          (i) immediately before his/her first day of membership if that day is before 1 March 1996; or
                          (ii) as at 30 June 1990, or at a later date when he/she last became a member of the CSS, if his/her first day of membership is on or after 1 March 1996;
                       For the purpose of paragraphs (a)(i) and (a)(ii), paid accumulated contributions include two‑sevenths of the amount of any transfer value in respect of the member paid under section 128(2)(a) of the Superannuation Act 1976 prior to his/her first day of membership, or 1 July 1990, respectively, whether or not the employee component of that transfer value was two‑sevenths of the transfer value, and the interest that would have accumulated on the two‑sevenths amount under the CSS scheme;
                 and
                      (b) an amount that is 2.5 times the amount of the member's accumulated basic contributions under the Superannuation Act 1976
                          (i) immediately before his/her first day of membership if that day is before 1 March 1996; or
                          (ii) as at 30 June 1990, or at a later date when he/she last became a member of the CSS, if his/her first day of membership is on or after 1 March 1996;
                      For the purposes of paragraphs (b)(i) and (b)(ii), accumulated basic contributions include:
                          (A) two‑sevenths of the amount of any transfer value  in respect of the member paid under section 128(2)(a) of the Superannuation Act 1976 prior to his/her first day of membership, or 1 July 1990, respectively, whether or not the employee component of that transfer value was two‑sevenths of the transfer value, and the interest that would have accumulated on the two‑sevenths amount under the CSS scheme; and
                          (B) the amount to which a member who:

                             had become entitled to an invalidity benefit under section 66 of the Superannuation Act 1976; and

                             had elected under section 68 or 71 of that Act to take part of the invalidity benefit as a lump sum; and

                             had subsequently