Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_1:p1
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 1/2)
Character Range: 1370221–1375639

1     An interest that a person has in the Scheme, being a person who:                                                                                                     (a) The approved method is:
      (a) is a Judge; and                                                                                                                                                    where:
      (b) is to cease to hold office as a Judge when he or she reaches a particular age; and                                                                                APF has the same meaning as in the Pensions Act.
      (c) will, by the time he or she reaches that age, have served as a Judge for at least 6 years.                                                                        F has the meaning given by paragraph (b).
                                                                                                                                                                            LS is the benefit that would have been payable under section 12A of the Pensions Act, after taking into account any reduction under section 17AF, if the person had died on the relevant date and no spouse or orphan pension had been payable.
                                                                                                                                                                            LSF has the meaning given by paragraph (c).
                                                                                                                                                                            RAPF is the component (APF × Transfer factor) in the formula in subsection 17AD(5) of the Pensions Act, as modified under section 17AE of that Act if applicable.
                                                                                                                                                                            S is the annual salary payable to the person as a Judge at the relevant date.
                                                                                                                                                                           (b) For paragraph (a), F is determined in accordance with the following formula:
                                                                                                                                                                            where:
                                                                                                                                                                            Fy,a is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that applies to the person having regard to the person's gender, compulsory retirement age, age in completed years at the relevant date and the age in completed years at which the person can first retire with a pension.
                                                                                                                                                                            Fy+1,a is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that would apply if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                                                                            Fy,a+1 is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that would apply if the age in completed years at which the person can first retire with a pension were 1 year more than it is.
                                                                                                                                                                            Fy+1,a+1 is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that would apply if, at the relevant date, both the person's age in completed years and the age in completed years at which the person can first retire were 1 year more than they are.
                                                                                                                                                                            m is the number of complete months of the person's age, at the relevant date, that are not included in the completed years of age.
                                                                                                                                                                            ma is the number of complete months of the age at which the person can first retire with a pension that are not included in the age in completed years.
                                                                                                                                                                           (c) For paragraph (a), LSF is determined in accordance with the following formula:

                                                                                                                                                                             where:

                                                                                                                                                                            LSFy,a is the lump sum valuation factor mentioned in