Document ID: chunk:federal_register_of_legislation:F2025L00281:reg:1
Version: federal_register_of_legislation:F2025L00281
Segment Type: reg
Provision Reference: reg 1
Character Range: 835186–837241

1     An interest that a person has in the Scheme under section 18 or 19 of the Act.                                                                 A × Fy+m
                                                                                                                                                     where:
                                                                                                                                                     A is the annual retiring allowance (including additional retiring allowance) to which the person is entitled under section 18 of the Act, or the annuity to which the person is entitled under section 19 of the Act, as the case may be (without applying any reduction under section 21 or 21B of the Act).
                                                                                                                                                     Fy+m is the factor calculated in accordance with the following formula:
                                                                                                                                                     where:
                                                                                                                                                     Fy is the valuation factor mentioned in Table 56 that applies at the person's age in completed years (y) at the relevant date for the person's gender and type of pension.
                                                                                                                                                     m is the number of complete months of the person's age at the relevant date that are not included in the person's completed years of age.
                                                                                                                                                     Fy+1 is the valuation factor mentioned in Table 56 that would apply if the person's age in completed years at the relevant date were 1 year more than it is.