Document ID: chunk:federal_register_of_legislation:F2015C00404:reg:8
Version: federal_register_of_legislation:F2015C00404
Segment Type: reg
Provision Reference: reg 8
Character Range: 18908–21135

8  Amount of productivity benefit in 1988
 (1) This clause applies in respect of service rendered by a member in 1988.
 (2) Where, in a pay period, a member renders 14 days effective service, then, subject to subclause (6), the amount of productivity benefit (exclusive of interest) to be credited to that member in respect of that pay period shall be calculated in accordance with the formula:

where ARP is the annual rate of pay applicable to the member.
 (3) Where, in a pay period, a member renders a period of effective service of less than 14 days, then, subject to subclause (6), the amount of productivity benefit (exclusive of interest) to be credited to that member in respect of that pay period shall be calculated in accordance with the formula:

where:
B is the amount of benefit in respect of a member in respect of the pay period ascertained in accordance with the formula specified in subclause (2); and
D is the number of days of effective service in the pay period.
 (4) Where, in a pay period, a member renders 14 days effective service, then, subject to subclause (6), the amount of productivity benefit (being interest) to be credited to that member in respect of that pay period shall be calculated in accordance with the formula:

where B is the amount of benefit (including interest) that has accrued in respect of the member immediately before the commencement of the pay period.
 (5) Where, in a pay period, a member renders a period of effective service of less than 14 days, then, subject to subclause (6), the amount of productivity benefit (being interest) to be credited to that member in respect of that pay period shall be calculated in accordance with the formula:

where:
B is the amount of benefit (including interest) that has accrued in respect of the member immediately before the commencement of the pay period; and
D is the number of days of effective service in the pay period.
 (6) Where an amount ascertained in accordance with subclause (2), (3), (4) or (5) includes a fraction of a cent:
 (a) if the fraction is one‑half or greater, the amount shall be deemed to be increased by one cent; or
 (b) if the fraction is less than one‑half, the fraction shall be disregarded.