Document ID: chunk:federal_register_of_legislation:F2023C01022:clause:4_2
Version: federal_register_of_legislation:F2023C01022
Segment Type: clause
Provision Reference: sch 4 cl 2
Character Range: 413042–414862

2  Method
 (1) The method is:

where:
B is the amount of the annual pension benefit payable in respect of the superannuation interest at the relevant date.
Py+m is the pension valuation factor calculated in accordance with subclause (2).
r is the proportion of the pension that is payable to any surviving spouse of the member spouse on the death of the member spouse, as provided by the trustee under section 90XZB or 90YZR of the Act.
Ry+m is the reversion valuation factor calculated in accordance with subclause (3).
 (2) For subclause (1), the pension valuation factor (Py+m) at the relevant date is:

  where:
Py is the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date.
m is the number of completed months of the member spouse's age that are not included in the completed years at the relevant date.
Py+1 is the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Py.
 (3) For subclause (1), the reversion valuation factor (Ry+m) at the relevant date is:

  where:
Ry is the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date.
m is the number of completed months of the member spouse's age that are not included in the completed years at the relevant date.
Ry+1 is the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Ry.