Document ID: chunk:federal_register_of_legislation:F2024C00260:reg:3
Version: federal_register_of_legislation:F2024C00260
Segment Type: reg
Provision Reference: reg 3
Character Range: 20346–25667

3     An interest that a person has in the CSS if:                                                                                                                                         ABC + ASC + PCI + (ABC × 2.5 × DFy+m) – ERDA
       (a) the person has, on ceasing to be an eligible employee, made an election under section 137 of the 1976 Act to have Division 3 of Part IX of that Act apply to him or her; and    where:
       (b) deferred benefits have yet to become payable to the person under subsection 138 (2) of the 1976 Act;                                                                            ABC is:
      except if a transfer value has been paid by or in respect of the person under the 1922 Act or the 1976 Act.                                                                           (a) the person's accumulated basic contributions as those contributions would be calculated if the deferred benefits had become payable at the relevant date; or
                                                                                                                                                                                            (b) if section 146MB of the 1976 Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (a) of the 1976 Act.
                                                                                                                                                                                           ASC is:
                                                                                                                                                                                            (a) the sum of the following amounts, as those amounts would be calculated if the deferred benefits had become payable at the relevant date:
                                                                                                                                                                                            (i) the person's accumulated supplementary contributions;
                                                                                                                                                                                            (ii) the amount of any benefit payable in respect of the person under section 110SN or 130D of the 1976 Act; or
                                                                                                                                                                                            (b) if section 146MB of the 1976 Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (b), (d) or (e) of the Act, as applicable.
                                                                                                                                                                                           PCI is:
                                                                                                                                                                                            (a) the accumulated employer contributions in respect of the person as those contributions would be calculated if the deferred benefits had become payable at the relevant date; or
                                                                                                                                                                                            (b) if section 146MB of the 1976 Act applies to the interest — the amount calculated under paragraph (a), reduced in accordance with paragraph 146ME (2) (c) of the 1976 Act.
                                                                                                                                                                                           DFy+m is the factor calculated by:
                                                                                                                                                                                           where:
                                                                                                                                                                                           DFy is the valuation factor for the person's gender mentioned in Table 5 in this Part that applies at the person's age in completed years at the relevant date.
                                                                                                                                                                                           m has the meaning given in item 1.
                                                                                                                                                                                           DFy+1  is the valuation factor for the person's gender mentioned in Table 5 in this Part that would apply to the person if the person's age in completed years were one year more than it is at the relevant date.
                                                                                                                                                                                           ERDA has the same meaning as in item 1.