Document ID: chunk:federal_register_of_legislation:F2025L00281:reg:3
Version: federal_register_of_legislation:F2025L00281
Segment Type: reg
Provision Reference: reg 3
Character Range: 224166–227179

3     An interest that a person has in the PSS Scheme if:                                                                                                    UDB × UDBFy+m + FDB + ATA – ERDA
       (a) the person is a preserved benefit member; and
       (b) the person is not eligible to receive a benefit under either rule 8.2.1A or paragraph 8.2.1B(a) of the Rules.                                     where:
                                                                                                                                                             UDB is the person's unfunded preserved benefit included in the preserved benefit which, under rule 8.6.2 of those Rules, increases in line with movements in the consumer price index, as at the relevant date.
                                                                                                                                                             UDBFy+m is the factor calculated in accordance with the following formula:
                                                                                                                                                             where:
                                                                                                                                                             UDBFy is the valuation factor mentioned in Table 5 that applies at the person's age in completed years, at the relevant date, for the member's gender.
                                                                                                                                                             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.
                                                                                                                                                             UDBFy+1 is the valuation factor mentioned in Table 5 that would apply if the person's age in completed years at the relevant date were 1 year more than it is.
                                                                                                                                                             FDB is the sum of any accumulated member contributions and any accumulated productivity contributions included in the person's preserved benefit which, under rule 8.6.1 of the Rules, increases in line with the fund crediting rate, as at the relevant date.
                                                                                                                                                             ATA is the accumulated transfer amount, or if there are 2 or more such amounts, the sum of those amounts, in respect of the person at the relevant date.
                                                                                                                                                             ERDA has the same meaning as in item 1.