Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:55:p63
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 55 (pt 63/83)
Character Range: 562394–565271

calculated using the following formula on each of the contribution due days on which the member was an eligible employee for the purposes of the Superannuation Act 1976 in the period from 1 July 1990 to his/her first day of membership:

                  where:

                      F  (a) for a member who was a permanent full‑time employee or a temporary full‑time employee on his/her last birthday immediately preceding the contribution due day is 1; and
                       (b) for a member who was a partial contributor as defined in Regulations under the Superannuation Act 1976 on his/her last birthday preceding the contribution due day is the ratio that the contribution under the Superannuation Act 1976 paid or payable by him/her on that last birthday or the contribution due day               immediately following if a contribution was not due on that birthday, bears to the contribution that would have been paid or payable if the person had been a permanent full‑time employee on that day performing duties of a similar nature to the member.
                   For the purposes of paragraphs (a) and (b), contributions under the Superannuation Act 1976 paid or payable include:
                     (i) if the member did not work on his/her last birthday, or the contribution due day immediately following, the contribution he/she would have paid if he/she had been on duty; and

                     (ii) if the member was on leave of absence without pay that is an excluded period of leave of absence under the Superannuation Act 1976 on his/her last birthday, the contribution he/she would have paid if he/she had been on duty with his/her employer.

                  CP is the amount of the contribution paid, or payable, by the person on the contribution due day; and
                  CS is:
                       (a) if the member was not in receipt of partial invalidity pension under the Superannuation Act 1976 on the last birthday immediately preceding the contribution due day, the person's annual rate of salary under that Act on that last birthday; or
                       (b) if the member was in receipt of partial invalidity pension under the Superannuation Act 1976 on the last birthday immediately preceding the contribution due day, 26 multiplied by the amount of the contribution paid, or payable, by the person under that Act on that last birthday.

Additional Accruals
14.2.6 Any transfer value paid under section 128(2)(a) of the Superannuation Act 1976 on behalf of a member whose first day of membership is on or after 1 March 1996 is treated as a transfer amount under Part 11 of the Rules.  Interest is taken to accumulate on the transfer amount at the rates applicable to transfer values under the CSS scheme for the period from payment until the member's first day of membership.  Benefits are determined under Part 11