Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_98:p20
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 20/26)
Character Range: 1668031–1670456

probability weighted employer funded accrued benefits worked out in step 1 of the method set out in clause 2.
  V1 is the sum of all the probability weighted employer funded accrued benefits worked out in step 3 of the method set out in clause 2.
  m is the number of complete months in the period commencing on 1 July before the date when the requirements of Part 3 of the Regulations were satisfied and ending at the end of the date when those requirements were satisfied.
  TPCIs is the total amount of the person's contributions and interest, being the amount that would have been required to be calculated under subsection 33B (4) of the NSW Superannuation Act if a benefit had been payable to the person immediately before the time when the requirements of Part 3 of the Regulations were satisfied.
 (2) In subclause 16 (3):
EFPe is the employer financed proportion of the person's benefit at the date when:
 (a) the person elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act; or
 (b) the person elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act;
calculated in accordance with the formula:
  where:
  EFBe is the employer financed component of the benefit that is payable to the person, calculated in accordance with the formula:
  where:
  LS is the amount of the lump sum benefit (if any) that would be payable to the person under section 52S of the NSW Superannuation Act if he or she had applied for payment of the benefit at:
 (a) in the case of a person who has elected, under paragraph 52N (1) (a) of the NSW Superannuation Act, to defer a benefit under subsection 21 (1) or (1B) of that Act in accordance with Division 3B of Part 4 of that Act — the date that was the exit day for the person under Division 3B of Part 4 of that Act; or
 (b) in the case of a person who has elected, under subclause 2 (2) of Schedule 23 to the NSW Superannuation Act, to take the benefit of Division 3B of Part 4 of that Act — the date when Part 1 of Schedule 23 first applied to the person.
  P is the amount of annual pension (if any) that would be payable to the person under section 52S of the NSW Superannuation Act if he or she had applied for payment of the pension at whichever date mentioned in paragraph