Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_60:p2
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 60 (pt 2/3)
Character Range: 1785106–1790520

complete months of the person's age that are not included in the person's age in completed years at the relevant date.
                                                                                                                             Fy+1 is the valuation factor mentioned in Table 1 in this Part that would apply to the person if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                          R is:
                                                                                                                           (a) if the requirements of Part 3 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the amount (the reduction factor) calculated in accordance with the formula:

                                                                                                                             where:
                                                                                                                            NMProp is the quotient of:
                                                                                                                           (i) the value of the spouse's entitlement under the agreement or order immediately before the time when the requirements of Part 3 of the Regulations were satisfied; and
                                                                                                                           (ii) the gross value of the person's interest, immediately before those requirements were satisfied, determined in accordance with the method set out in this item.
                                                                                                                            ESProp is the quotient of:
                                                                                                                           (i) the sum of:
                                                                                                                                    (A) the number of days, and any additional proportion of a day, of eligible service of the person before 1 July 1988; and
                                                                                                                                    (B) 85% of the number of days, and any additional proportion of a day, of eligible service of the person on and after 1 July 1988;
                                                                                                                            at the time when the requirements of Part 3 of the Regulations were satisfied; and
                                                                                                                           (ii) the sum of:
                                                                                                                                    (A) the number of days, and any additional proportion of a day, of eligible service of the person before 1 July 1988; and
                                                                                                                                    (B) 85% of the number of days, and any additional proportion of a day, of eligible service of the person on and after 1 July 1988;
                                                                                                                            at the relevant date; or
                                                                                                                           (b) if the requirements of Part 3 of the Regulations have been satisfied in respect of the entitlements of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the product of the reduction factors, calculated in accordance with paragraph (a), in respect of each entitlement; or
                                                                                                                           (c) in any other case — 1.
                                                                                                                          CCB is the sum of:
                                                                                                                           (a) the balance of the person's Commonwealth co‑contribution account at the relevant date; and
                                                                                                                           (b) the amount of adjustment (if any) that STC would make to that account under section 11 of the SANCS Act if the person had voluntarily ceased to be an employee at the relevant date.
                                                                                                                          AEC is the sum of:
                                                                                                                           (a) the balance of the additional employer contributions account of