Document ID: chunk:federal_register_of_legislation:F2024C00260:reg:4:p1
Version: federal_register_of_legislation:F2024C00260
Segment Type: reg
Provision Reference: reg 4 (pt 1/2)
Character Range: 455462–460757

4     An interest that a person has in the DFRDB scheme if the person:                                                                                                                  P × IPFy+m  + IR × IRFy+m + NIR × NIRFy+m + C
       (a) is a contributing member; and                                                                                                                                                where:
       (b) is aged 55 years or more; and                                                                                                                                                P is the annual pension that would have been payable to the person if:
       (c) would have been, if he or she had resigned, or would be, if he or she were to resign, entitled to retirement pay under section 23 of the DFRDB Act.                           (a) the person had retired on the relevant date and had taken the maximum commutation under section 24 of the DFRDB Act; and
                                                                                                                                                                                         (b) CSC had determined under subsection 6C (1) of the DFRDB Act that the surcharge deduction amount was zero.
                                                                                                                                                                                        IPFy+m is the factor calculated in accordance with the following formula:
                                                                                                                                                                                        where:
                                                                                                                                                                                        IPFy is the indexed single life valuation factor for a retirement pension mentioned in Table 7A or 7B for the person's gender and age in completed years at the relevant date.
                                                                                                                                                                                        m is the number of complete months of the person's age that are not included in the completed years of age at the relevant date.
                                                                                                                                                                                        IPFy+1 is the indexed single life valuation factor for a retirement pension mentioned in Table 7A or 7B that would apply if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                                                                                        IR is the annual indexed reversionary pension (being the portion of the reversionary pension payable under section 39 of the DFRDB Act that would be indexed under Part XA of that Act) that would have been payable at the relevant date to a spouse of the person on the death of that person if that person had retired on the relevant date and CSC had determined under subsection 6C (1) of the DFRDB Act that the surcharge deduction amount was zero.
                                                                                                                                                                                        IRFy+m is the indexed reversion factor calculated in accordance with the following formula:
                                                                                                                                                                                        where:
                                                                                                                                                                                        IRFy is the indexed reversion valuation factor for a retirement pension mentioned in Table 7A or 7B for the person's gender and age in completed years at the relevant date.
                                                                                                                                                                                        m has the meaning given above.
                                                                                                                                                                                        IRFy+1 is the indexed reversion valuation factor for a retirement pension mentioned in Table 7A or 7B that would apply if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                                                                                        NIR is the annual non‑indexed reversionary pension (being the portion of the reversionary pension payable under section 39 of the DFRDB Act that would not be indexed under Part XA of that Act) that would have been payable at the relevant date to a spouse