Document ID: chunk:federal_register_of_legislation:F2024C00260:reg:1
Version: federal_register_of_legislation:F2024C00260
Segment Type: reg
Provision Reference: reg 1
Character Range: 667807–670968

1     An interest that a person has in the MSBS as a result of being paid a pension other than an associate pension or a spouse's pension.  P × (PFy+m + 0.67 × RFy+m)
                                                                                                                                            where:
                                                                                                                                            P is the annual pension of the person, excluding any part of the pension that takes account of the existence of an eligible child or children.
                                                                                                                                            PFy+m is the factor calculated by:
                                                                                                                                            where:
                                                                                                                                            PFy is the single life valuation factor mentioned in Table 4A (males) or Table 4B (females) that applies to the person having regard to the person's age in completed years at the relevant date and the person's gender and type of pension.
                                                                                                                                            m is the number of complete months of the person's age that are not included in the completed years of age at the relevant date.
                                                                                                                                            PFy+1 is the single life valuation factor mentioned in Table 4A (males) or Table 4B (females) that would apply to the person if the person's age in completed years at the relevant date were one year more than it is.
                                                                                                                                            RFy+m is the factor calculated by:
                                                                                                                                            where:
                                                                                                                                            RFy is the indexed reversion valuation factor mentioned in Table 4A (males) or Table 4B (females) that applies to the person having regard to the person's age in completed years at the relevant date and the person's gender and type of pension.
                                                                                                                                            m has the meaning given above.
                                                                                                                                            RFy+1 is the indexed reversion valuation factor mentioned in Table 4A (males) or Table 4B (females) that would apply to the person if the person's age in completed years at the relevant date were one year more than it is.