Superannuation (DFRDB Scheme) (Surcharge Deduction Amount Conversion Factors) Determination No. 2 (Cth)

COMMONWEALTH OF AUSTRALIA

DEFENCE FORCE RETIREMENT AND DEATH BENEFITS ACT 1973

DETERMINATION

The Defence Force Retirement and Death Benefits Authority, pursuant to subsection 124A(1) of the Defence Force Retirement and Death Benefits Act 1973, and for the purposes of subsection 23(6), subparagraph 24(8)(e)(ii), paragraph 24(9)(f), subsection 31(4), subparagraph 32A(7)(e)(ii), paragraph 32A(8)(f), subparagraph 41A(4A)(d)(ii) and subsections 43(2AA), 75(3A) and 75(4A) of the Act, DETERMINES as follows:

Citation

1.         This determination may be cited as the "Superannuation (DFRDB Scheme) (Surcharge Deduction Amount - Conversion Factors) Determination No. 2".

Commencement

2.         This determination shall take effect from and including 16 March 2001.

Purpose

3.         The purpose of this determination is to determine, in accordance with advice from the Australian Government Actuary, new conversion factors to be used when calculating pension reductions in order to discharge Surcharge Deduction Amounts.

Principal Determination

4.         In this determination “the Principal Determination” means the Superannuation (DFRDB Scheme) (Surcharge Deduction Amount - Conversion Factors) Determination No. 1.

Interpretation

5.(1)     In this determination:

"Act" means the Defence Force Retirement and Death Benefits Act 1973; and

“DFRDB Scheme” means the retirement and death benefits scheme established by the Act.

(2)        Words and expressions defined in the Act have the same meaning in this determination.

Amendment of the Principal Determination

6. The Table in the Schedule to the Principal Determination and the conversion factors required to be determined under subsection 124A(1) of the Act there set out are omitted and replaced by the Table and conversion factors set out in the Schedule to this determination.

[Superannuation (DFRDB Scheme) (Surcharge Deduction Amount - Conversion Factors) Determination No. 2 (continued)]

Christine M. Goode

..............................................................

C.M. Goode

(Chairman)

P. Charley               G. Ferguson

.............................................................   ............................................................

P.J. Charley   CAPT G. Ferguson 

(Deputy Chairman   (Navy Member) 

and Department of Defence Member)

Geoffrey Beck      A. Bobets  

..............................................................   ............................................................

COL G. Beck   A. Bobets 

(Army Member)   (Air Force Member) 

Dated this          sixteenth                 day of              March   2001  

SCHEDULE

CONVERSION FACTORS REQUIRED TO BE DETERMINED

UNDER SUBSECTION 124A(1) OF THE ACT

AGE IN COMPLETED YEARS AT DATE BENEFIT BECOMES PAYABLE	CONVERSION FACTOR	AGE IN COMPLETED YEARS AT DATE BENEFIT BECOMES PAYABLE	CONVERSION FACTOR
15	24.0	43	20.8
16	24.0	44	20.6
17	23.9	45	20.4
18	23.8	46	20.2
19	23.8	47	20.0
20	23.7	48	19.7
21	23.6	49	19.5
22	23.5	50	19.3
23	23.5	51	19.0
24	23.4	52	18.7
25	23.3	53	18.5
26	23.2	54	18.2
27	23.1	55	17.9
28	23.0	56	17.6
29	22.9	57	17.3
30	22.8	58	17.0
31	22.7	59	16.7
32	22.5	60	16.3
33	22.4	61	16.0
34	22.3	62	15.6
35	22.1	63	15.3
36	22.0	64	14.9
37	21.9	65	14.5
38	21.7	66	14.1
39	21.5	67	13.7
40	21.4	68	13.3
41	21.2	69	12.9
42	21.0	70	12.5