Twenty-first Amending Deed to the Deed to Establish an Occupational Superannuation Scheme for Commonwealth Employees and Certain Other Persons (the Public Sector Superannuation Scheme) (Cth)
TWENTY-FIRST AMENDMENT
of the
PUBLIC SECTOR SUPERANNUATION SCHEME TRUST DEED
THIS DEED is made on 9 May 2004 by the COMMONWEALTH OF AUSTRALIA.
WHEREAS section 4 of the Superannuation Act 1990 provides for the Minister to establish an occupational superannuation scheme to be administered by the Board established under section 20 of the Act;
WHEREAS the Public Sector Superannuation Scheme was established by deed dated 21[1] June 1990;
[1] Section 3 of the Act defines “Trust Deed” to include that deed as subsequently amended. A note listing particulars of the Trust Deed and the amending deeds is set out at the end of this Deed.
AND WHEREAS the Schedule to the Trust Deed contains rules for the administration of the Scheme;
AND WHEREAS section 5 of the Act provides for the Minister, by instrument in writing, to amend the Trust Deed, and requires the consent of the Board to amendments in certain circumstances;
AND WHEREAS the consent of the Board is not required to the amendments provided for in this Deed;
NOW THIS DEED WITNESSES as follows:
1. This Deed commences on the commencement of Schedule 1 to the Superannuation Legislation Amendment (Family Law and Other Matters) Act 2004.
2. This Deed is to be read as if it formed part of the Trust Deed and, where the context requires or admits, a word or phrase in this Deed has the same meaning that it has in the Trust Deed.
3. The Trust Deed is amended as follows:
3.1 Paragraph (b) of clause 2.1 is amended by deleting “and”.
3.2 Paragraph (c) of clause 2.1 is amended by adding at the end “and”.
3.3 Clause 2.1 is amended by inserting the following paragraph after paragraph (c):
“(d) persons who have an entitlement to an associate benefit;”
3.4 Paragraph (a) of clause 3.1 is amended by deleting “and persons who have preserved benefits” and substituting “, preserved benefit members and associates,”.
3.5 Paragraph (b) of clause 3.1 is replaced with the following paragraph:
“(b) to provide information about benefits or potential benefits, and available options, to:
(i) members;
(ii) preserved benefit members;
(iii) associates; and
(iv) potential members;”
3.6 Paragraph (h) of clause 3.2 is amended by deleting “members’ entitlements to benefits and the entitlements of persons who have preserved benefits” and substituting “entitlements to benefits of members, preserved benefit members and associates”.
3.7 The following clause is inserted after clause 3.2:
“3.2A In exercising its functions and powers the Board shall comply with the requirements of the Superannuation Industry (Supervision) Act 1993 and Regulations made under that Act, and have regard to the interests of members and their employers, preserved benefit members and associates.”
3.8 Clause 3.3 is amended by deleting “In exercising its functions and powers the Board shall comply with the requirements of the Superannuation Industry (Supervision) Act 1993 and Regulations made under that Act, and have regard to the interests of members, their employers and persons with preserved benefits.”
3.9 Paragraph (c) of clause 3.3 is amended by deleting “and persons who have preserved benefits” and substituting “, preserved benefit members and associates”.
3.10 Paragraph (h) of clause 3.3 is amended by deleting “or a person who has a preserved benefit” and substituting “, a preserved benefit member or an associate”.
3.11 Paragraph (d) of clause 9.2 is amended by deleting “and”.
3.12 Paragraph (e) of clause 9.2 is amended by adding at the end “; and”.
3.13 Clause 9.2 is amended by inserting the following paragraph after paragraph (e):
“(f) funded components of associate benefits.”
3.14 Clause 9.3 is amended by inserting “and associates,” after “members”.
4. The Rules are amended as follows:
4.1 Rule 1.1.1 is amended by deleting “divided into 14 Parts” and substituting “divided into 16 Parts”.
4.2 The table to Rule 1.1.1 is amended by deleting “Guide to the 14 Parts of the Rules” (wherever occurring) and substituting “Guide to the 16 Parts of the Rules”.
4.3 The table to Rule 1.1.1 is amended by adding at the end the following items:
15 Commutation of pension: Payment of Surcharge Liability Allowing a person who receives a surcharge assessment while in receipt of pension to commute that pension to pay the surcharge liability to the ATO. 16 Family Law Superannuation Splitting The creation of a separate interest in the PSS for a non-member spouse and subsequent reduction of the benefit of a member spouse following the receipt of an agreement or court order as a result of Family Law actions.
4.4 Rule 1.2.1 is amended by deleting the definitions of accumulated member contributions, accumulated productivity contributions and unfunded preserved benefit and substituting the following definitions:
| accumulated member contributions | in relation to a member or a preserved benefit member, means the sum of the following cumulative amounts taking into account any reductions that apply under rule 16.4.2(a): (a) the cumulative amounts are: · contributions that have been, or are deemed to have been, paid or have become payable, by the member or preserved benefit member on or after his/her first day of membership; and · the amount of any accumulated member contributions included in a preserved benefit applicable to the person immediately before last becoming a member, together with the amount of any interest up to his/her first day of membership in accordance with a determination or determinations by the Board as to rates of interest and the method of allocation; and · the amount of any accumulated member contributions accrued before last becoming an invalidity pensioner by, and not refunded to, a person who was an invalidity pensioner immediately before becoming a member; and · any amount that is the member’s paid accumulated contributions under the Superannuation Act 1976 included in a transfer of assets in respect of him/her to the Board under section 248 of that Act; and · the amount calculated under paragraph 11.3.29(b) (if any); and · the interest (if any) in respect of these amounts in accordance with a determination or determinations by the Board as to rates of interest and method of allocation. |
| accumulated productivity contributions | in relation to a member or a preserved benefit member, means the sum of the accumulated funded productivity contributions and the accumulated unfunded productivity contributions taking into account any reductions that apply under rule 16.4.2(b). |
| unfunded preserved benefit | in relation to a preserved benefit for a preserved benefit member on a particular day, means the amount of the preserved benefit on that day that is attributable to the amount (if any) of the member’s final unfunded benefit accrual included in the preserved benefit, taking into account any reductions that apply under Rule 16.4.5. |
4.5 Rule 1.2.1 is amended by inserting each of the following definitions, in its appropriate alphabetical order (determined on a letter-by-letter basis):
| accumulated transfer amount | means: · in relation to a member—the transfer amount relating to the member plus accumulated interest calculated under Rule 11.1.4, taking into account any reductions that apply under paragraph 16.4.2(c). · in relation to a preserved benefit member—the amount so preserved in the PSS scheme plus accumulated interest calculated under Rule 11.1.5, as taking into account any reductions that apply under paragraph 16.4.2(c). |
| additional accumulation amount | (see Rule 16.1.2) |
| additional accumulation component | (see Rule 16.1.2) |
| associate | a person who has an entitlement to an associate benefit. |
| associate benefit | (see Rule 16.1.2) |
| associate preserved | (see Rule 16.1.2) |
| associate preserved pension | (see Rule 16.1.2) |
| associate standard pension | (see Rule 16.1.2) |
| base amount | (see Rule 16.1.2) |
| family law value | (see Rule 16.1.2) |
| funded component | (see Rule 16.1.2) |
| member contributions amount | (see Rule 16.1.2) |
| member contributions component | (see Rule 16.1.2) |
| member spouse | (see Part VIIIB of the Family Law Act 1975 and Rule 16.1.1) |
| non-member spouse | (see Part VIIIB of the Family Law Act 1975 and Rule 16.1.1) |
| non-standard pension | (see Rule 16.1.2) |
| operative time | (see Rule 16.1.2) |
| original interest | (see Rule 16.1.2) |
| payment split | (see Rule 16.1.2) |
| productivity contributions amount | (see Rule 16.1.2) |
| productivity contributions component | (see Rule 16.1.2) |
| scheme value | (see Rule 16.1.2) |
| separation amount | (see Rule 16.1.2) |
| separation factor | (see Rule 16.1.2) |
| splitting agreement | (see Rule 16.1.2) |
| splitting order | (see Rule 16.1.2) |
| splitting percentage | (see Rule 16.1.2) |
| standard pension | (see Rule 16.1.2) |
| superannuation interest | (see Rule 16.1.2) |
| unfunded component | (see Rule 16.1.2). |
4.6 The following rule is inserted after Rule 1.2.1:
“
1.2.2 If a word or phrase defined in a Part or a Division of these Rules is used elsewhere in these Rules, it has the same meaning unless excluded by the context. For convenience, these words and phrases are listed as signpost definitions in Rule 1.2.1 above.”
4.7 The table to Rule 5.2.1 is amended by adding at the end the following item:
Reduction Multiple The application of a splitting agreement or splitting order under Part 16. 5.2.26
4.8 The following rule is inserted after Rule 5.2.25:
“
Reduction Multiple
5.2.26 A Reduction Multiple applies to a member to whom Part 16 applies and is calculated under Rule 16.4.3. This multiple is to be used to reduce the Benefit Accrual Multiple.”
4.9 The table to Rule 5.3.1 is amended by adding at the end the following item:
Reduction Multiple The application of a splitting agreement or splitting order under Part 16 5.3.26
4.10 The following rule is inserted after Rule 5.3.25:
“
Reduction Multiple
5.3.26 A Reduction Multiple applies to a member to whom Part 16 applies and is calculated under Rule 16.4.3. This multiple is to be used to reduce the Benefit Accrual Multiple.”
4.11 The following rule is inserted after Rule 5.6.5:
“
Reduction Multiple to be disregarded in certain cases
5.6.6 In deciding the date on which a person becomes a maximum benefits member, a Reduction Multiple must not be taken into account, however the benefit payable to the person is subject to reduction under Rule 16.4.4.”
4.12 The following rule is inserted after Rule 5.7.7:
“
Reduction Multiple to be disregarded in certain cases
5.7.8 In deciding the date on which a person becomes a maximum benefits member, a Reduction Multiple must not be taken into account, however the benefit payable to the person is subject to reduction under Rule 16.4.4.”
4.13 Paragraph (b) of Rule 10.6.3 is amended by deleting “or former member” and substituting “, former member or associate”.
4.14 Paragraph (b) of Rule 10.6.4 is amended by deleting “a preserved benefit under Rule 8.1.1, whether the former member” and substituting “to a person a preserved benefit under Rule 8.1.1 or an associate preserved benefit under Rule 16.3.6, whether the person”.
4.15 Paragraph (c) of Rule 10.6.6 is amended by deleting “a former member seeking payment of his/her preserved benefit ” and substituting “a person seeking payment of a preserved benefit or an associate preserved benefit”.
4.16 The following Division is inserted after Division 8 of Part 10:
“
| Division 8A | Payment of Associate Preserved Benefits on Invalidity |
Clear entitlement to invalidity benefits
10.8A.1 Where a request to pay an associate preserved benefit on invalidity grounds under Rule 16.3.2 has been received, the Board may approve the payment if, after considering:
(a) the report or reports of one or more medical practitioners submitted with the request; and
(b) any other matters the Board considers relevant;
it is satisfied there is no reasonable doubt the associate is:
(c) totally and permanently incapacitated; or
(d) suffering from a terminal medical condition.
Reasonable doubt regarding entitlement to associate preserved benefits
10.8A.2 If the Board considers there is reasonable doubt that the associate is totally and permanently incapacitated, the Board must:
(a) require the associate to undergo a medical examination by a Commonwealth Medical Officer or other approved medical practitioner within six months, or other period specified by the Board, of the date the Board was asked to approve the payment; and
(b) refer the issue of whether the associate is totally and permanently incapacitated and the report of the medical examination to an Assessment Panel;
before considering a request to pay the associate preserved benefit on invalidity grounds.
10.8A.3 The Board must decide whether or not to pay an associate preserved benefit to an associate, other than an associate entitled to his/her associate preserved benefit under Rule 10.8A.1. When making its decision the Board must consider the recommendation of the Assessment Panel.
Decision to be advised to associate
10.8A.4 The Board must advise its decision under Rule 10.8A.1 or 10.8A.3 to the associate. The advice is to include a statement of the reasons for the decision and a copy of the recommendation made by the Assessment Panel, if any.”
4.17 Rule 11.1.4 is amended by deleting “The transfer amount plus accumulated interest is called the Accumulated Transfer Amount.”
4.18 Rules 11.1.5, 11.2.1, 11.2.2 and 11.2.4 are amended by deleting “Accumulated Transfer Amount” (wherever occurring) and substituting “accumulated transfer amount”.
4.19 Rule 11.3.1 is amended by deleting all the words and figures preceding the formula, and substituting “Subject to Rule 11.3.1A, the Transfer Multiple Amount in relation to a member is the amount calculated by the formula:”.
4.20 The following rules are inserted after Rule 11.3.1:
“11.3.1A The amount calculated under Rule 11.3.1 must take into account any reduction that applies under paragraph 16.4.2(c).
11.3.1B On cessation of membership, a member who transferred a transfer amount into the PSS scheme under Rule 11.1.1, before 1 January 1996 (see also Rule 11.3.4) is, in respect of that transfer amount, entitled, to whichever is the greater of his/her:
(a) accumulated transfer amount; or
(b) Transfer Multiple Amount.”
4.21 Rule 11.3.2 is amended by deleting “Accumulated Transfer Amount under Rule 11.3.1” and substituting “accumulated transfer amount under Rule 11.3.1B”.
4.22 Rules 11.3.7 and 11.3.9 are amended by deleting “Accumulated Transfer Amount” (wherever occurring) and substituting “accumulated transfer amount”.
4.23 Rule 11.3.10 is amended by deleting “paragraph (b) of” from the value “TM”.
4.24 The following rule is inserted after Rule 11.3.11:
“11.3.11A In deciding the date on which a person becomes a maximum benefits member, a Reduction Multiple must not be taken into account, however the benefit payable to the person is subject to reduction under Rule 16.4.4.”
4.25 Rules 11.3.12, 11.3.13, 11.3.14, 11.3.18, 11.3.19, 11.3.20, 11.3.21, 11.3.22, 11.3.23, 11.3.24, 11.3.26, 11.3.27, 11.3.29, 11.5.1, 11.5.2 and 11.5.3 are amended by deleting “Accumulated Transfer Amount” (wherever occurring) and substituting “accumulated transfer amount”.
4.26 Rule 12.1.1 and its heading are replaced with the following rule and heading:
“
When a benefit option may be chosen
12.1.1 This rule applies to a person who has more than one benefit option available for choice under any one or more of Parts 6, 11 or 16 of these Rules. The person may choose one of the options within the period commencing three months before and ending three months after the relevant time. In this rule, the relevant time is:
(a) for a member or a former member—the time he/she ceases membership; or
(b) for an associate—the time he/she becomes entitled to the payment of the associate benefit;
and includes such further period as the Board allows.
4.27 The heading to Rule 12.1.2 is amended by deleting “or former member” and substituting “etc”.
4.28 The following rule is inserted after Rule 12.1.3:
“12.1.3A This rule applies if an associate preserved benefit is payable to a person who has more than one benefit option available for choice under these Rules but the person dies before choosing one of the options. The amounts mentioned in Rule 16.3.1 in respect of the benefit are payable to the legal personal representative of the person or, if the person has no legal personal representative, to any person or persons determined by the Board.
4.29 Rule 12.2.1 is amended by deleting “including preserved benefit members” and substituting “preserved benefit members and associates”.
4.30 Rule 12.2.2 is replaced with the following rule:
“12.2.2 The Board may pay all or part of a person’s lump sum payment, fortnightly instalment of pension (including partial invalidity pension), or pre-assessment payments to the legal personal representative of the person in the relevant circumstances. In this rule, the relevant circumstances are that :
(a) in the opinion of the Board, the person is insane; or
(b) the person is in prison; or
(c) for any other reason, the Board considers the circumstances appropriate.”
4.31 Paragraph (b) of Rule 12.2.3 is replaced with the following paragraphs:
“(b) a preserved benefit; or
(c) an associate preserved benefit;”
4.32 Paragraph (b) of Rule 12.2.4 is replaced with the following paragraphs:
“(b) a preserved benefit; or
(c) an associate preserved benefit;”
4.33 Rule 12.2.6 is amended by deleting “or of a class of persons” and substituting “, an associate or any other class of persons”.
4.34 Rule 12.2.9 is amended by deleting “The Surcharge” and substituting “Subject to Rule 12.2.9A, the Surcharge”.
4.35 The following rule is inserted after Rule 12.2.9:
“12.2.9A Reductions under Rule 16.4.3 are to be disregarded in applying Rule 12.2.9.”
4.36 Rule 12.3.3 is amended by inserting “ or an associate” after “a former member”.
4.37 Paragraph (d) of Rule 13.3.6 is replaced with the following paragraphs:
“(d) if the Board has to reconsider whether to pay associate preserved benefits on invalidity grounds under paragraph 16.3.2(a) or (b), whether the associate is:
(i) suffering from a terminal medical condition; or
(ii) totally and permanently incapacitated;
as appropriate; and
(e) on any other matters the panel considers relevant or the Board requires;”
4.38 The following Part is inserted after Part 15 of the Rules:
“
PART 16 – FAMILY LAW
SUPERANNUATION SPLITTING
| Division 1 | Words and Phrases Used in this Part |
Explanation of certain words and phrases
16.1.1 If a word or phrase defined in Part VIIIB of the Family Law Act 1975 is used in this Part, it has the same meaning unless excluded by the context. For convenience, a number of these words and phrases are listed as signpost definitions in Rule 16.1.2 below.
16.1.2 Other words and phrases that have a special meaning when used in this Part have been explained below. They appear throughout the Part in bold print to remind you they have a special meaning.
| additional accumulation amount | in relation to a member spouse who is, or has been at any time, a member, is the amount, if any, that would become payable if the accumulated transfer amount became payable as a lump sum at the operative time. |
| additional accumulation component | means the amount calculated by multiplying the additional accumulation amount by the separation factor. |
| associate benefit | means associate preserved benefit, associate preserved pension or associate standard pension. |
| associate preserved | means associate preserved benefit under Division 3 of this Part. |
| associate preserved pension | means associate preserved pension under Division 3 of this Part. |
| associate standard pension | means associate standard pension under Division 2 of this Part. |
| base amount | means: · for a splitting agreement – the base amount specified in, or calculated under, the agreement; or · for a splitting order – the amount allocated under subsection 90MT(4) of the Family Law Act 1975. |
| family law value | means the amount determined in accordance with regulations under the Family Law Act 1975 that apply for the purposes of paragraph 90MT(2)(a) of the Family Law Act 1975. In applying those regulations, the relevant date is taken to be the date on which the operative time occurs. Note: This amount is determined by applying those regulations, whether or not an order has been made under subsection 90MT(1) of the Family Law Act 1975. |
| funded component | means: · where the original interest is not an entitlement to associate preserved benefit—the sum of the following amounts: - the member contributions component; - the productivity contributions component; - the additional accumulation component; or · where the original interest is an entitlement to associate preserved benefit—the amount that would have been payable under paragraph 16.3.1(a) if the original interest had become payable at the operative time multiplied by the separation factor. |
| member contributions amount | in relation to a member spouse who is, or has been at any time, a member, is the amount that would become payable if the accumulated member contributions became payable as a lump sum at the operative time. |
| member contributions component | means the amount calculated by multiplying the member contributions amount by the separation factor. |
| member spouse | (see Part VIIIB of the Family Law Act 1975) |
| non-member spouse | (see Part VIIIB of the Family Law Act 1975) |
| non-standard pension | means a pension under these Rules other than a standard pension. |
| operative time | in relation to a splitting agreement or splitting order, means the time that is the operative time for the purposes of Part VIIIB of the Family Law Act 1975 in relation to a payment split under the agreement or order. |
| original interest | means a superannuation interest to which Division 2 of this Part applies. |
| payment split | (see Part VIIIB of the Family Law Act 1975) |
| productivity contributions amount | in relation to a member spouse who is, or has been at any time, a member, is the amount that would become payable if the accumulated productivity contributions became payable as a lump sum at the operative time. |
| productivity contributions component | means the amount calculated by multiplying the productivity contributions amount by the separation factor. |
| scheme value | means the amount determined under Rule 16.2.2. |
| separation amount | means: · if a splitting percentage applies – the amount calculated by multiplying the splitting percentage by the greater of: - the family law value; and - the scheme value; or · if a base amount applies and the scheme value is not more than the family law value – the base amount; or · if a base amount applies and the scheme value is more than the family law value – the amount calculated using the formula: scheme value ´ Whole dollars in base amount |
| separation factor | means the number calculated by dividing the number of whole dollars in the separation amount by the number of whole dollars in the scheme value. |
| splitting agreement | means: · a superannuation agreement (within the meaning of Part VIIIB of the Family Law Act 1975); or · a flag lifting agreement (within the meaning of Part VIIIB of the Family Law Act 1975) that provides for a payment split. |
| splitting order | (see Part VIIIB of the Family Law Act 1975) |
| splitting percentage | means: · for a splitting agreement—the percentage specified in the agreement under subparagraph 90MJ(1)(c)(iii) of the Family Law Act 1975; or · for a splitting order—the percentage specified in the order under subparagraph 90MT(1)(b)(i) of the Family Law Act 1975. |
| standard pension | means any of the following: · pension payable to a member, other than pre-assessment payments and partial invalidity pensions; · pension payable to a spouse; · associate preserved pension; · associate standard pension. |
| superannuation interest | (see Part VIIIB of the Family Law Act 1975) |
| unfunded component | means the separation amount reduced by the funded component. |
| Division 2 | Benefits for non-member spouse - |
Associate pension or preserved benefit for non-member spouse
16.2.1 This Division applies to a superannuation interest under these Rules (the original interest) if:
(a)the Board receives a splitting agreement or splitting order in respect of the original interest; and
(b)the splitting agreement, or splitting order, has:
(i)an operative time on or after the commencement of Schedule 1 to the Superannuation Legislation Amendment (Family Law and Other Matters) Act 2004; or
(ii)an operative time earlier than the commencement of Schedule 1 to the Superannuation Legislation Amendment (Family Law and Other Matters) Act 2004 and no benefits have become payable before that time in respect of the original interest to which the agreement or order relates; and
(c) the original interest is not an entitlement under Rules 7.1.3, 7.1.4, 7.3.2 and 7.3.7; and
(d) the member spouse and the non-member spouse are both alive at the operative time; and
(e)if a base amount applies—the base amount at the operative time is not more than the family law value or the scheme value.
16.2.2 Scheme value in relation to a member spouse:
(a) where the operative time is before the commencement of this Part—is the family law value; or
(b) where the operative time is on or after the commencement of this Part:
(i) is determined using the applicable methods and factors in Division 8 as in force at the operative time; or
(ii) if it is not possible to determine the scheme value using that methods and those factors, it is to be determined by an actuary appointed by the Board for this rule.
Associate pension for non-member spouse if operative time in payment phase
16.2.3 If, at the operative time, standard pension is payable in respect of the original interest, the non-member spouse is entitled to associate standard pension from the operative time, at the rate calculated by reference to the separation amount.
16.2.4 The annual rate of associate standard pension is calculated as follows:
(a) work through each step in the order set out below:
Step 1
Identify the separation amount in relation to the non-member spouse.
Step 2
Work out a pension factor (F y+m) based on the non-member spouse’s gender and age, using the formula:
where
Fy is the valuation factor mentioned in Table 1 of Division 7 applicable, at the operative time, to the non-member spouse’s gender and age in completed years;
m is the number of completed months of the non-member spouse’s age, at the operative time, that are not included in the non-member spouse’s age in completed years; and
FY + 1 is the valuation factor mentioned in Table 1 of Division 7 that would apply if the person's age in completed years at the operative time were 1 year more than it is.
Note The associate standard pension does not include a reversionary component.
Step 3
Divide the amount worked out in step 1 by the pension factor worked out in step 2.
The result is the annual rate of the associate standard pension.
(b) however, if it is not possible to calculate the annual rate of associate standard pension using paragraph (a), the annual rate of associate standard pension payable to a non-member spouse is to be calculated by an actuary appointed by the Board for this rule.
Note:
If the member’s pension includes a funded component, the associate standard pension should include a funded component in the same proportion.
16.2.5 If the annual rate of associate standard pension to which the non-member spouse becomes entitled is less than $1300, the non-member spouse may elect to commute the pension.
16.2.6 The amount of $1300 is to be indexed in the same way, and at the same time, as a standard pension is indexed under Division 6 of Part 9 of these Rules.
16.2.7 The election under Rule 16.2.5 must be made in writing to the Board not later than three months after the non-member spouse becomes entitled to the pension, or within such further period as the Board allows.
16.2.8 If the non-member spouse makes the election under Rule 16.2.5, then the non-member spouse is entitled instead to a lump sum equal to the separation amount.
Associate preserved benefit if operative time in growth phase
16.2.9 If, at the operative time, standard pension is not payable in respect of the original interest, then the non-member spouse is entitled to associate preserved benefit in accordance with Division 3 of this Part.
| Division 3 | Benefits for non-member spouse - |
Associate preserved benefit
16.3.1 Associate preserved benefit consists of:
(a) a lump sum equal to the funded component of the separation amount, together with interest (if any) in respect of that amount in accordance with a determination or determinations by the Board as to rates of interest and method of allocation taking into account any reduction under paragraph 16.5.2(a); and
(b) a lump sum equal to the unfunded component of the separation amount, increased as follows taking into account any reduction under paragraph 16.5.2(b):
Step 1
Identify the unfunded component of the separation amount at the operative time.
Step 2
Increase the unfunded component for any period between the operative time and the time at which the associate preserved benefit first becomes payable, using the Treasury bond rate for the last working day of the financial year ending immediately before the period for which the increase is being calculated for bonds with a 10 year term.
Note The period between the operative time and the time at which the associate preserved benefit first becomes payable may include a number of full financial years, or may occur entirely within a single financial year.
Treasury bond rate for bonds with a 10 year term
The Treasury bond rate for the last working day of a financial year for bonds with a 10 year term is:
(a) if any Treasury bonds with that term were issued on that day — the annual yield on those bonds; or
(b) in any other case — the annual yield on Treasury bonds with that term, as published by the Reserve Bank of Australia for that day.
Calculation of increase in separation amount
The increase in the unfunded component is calculated:
(a) at the end of each financial year that occurs between the operative time and the time at which the associate preserved benefit first becomes payable; and
(b) immediately before the associate preserved benefit first becomes payable;
using the applicable Treasury bond rate for the relevant period worked out in steps 3, 4 and 5, and compounded period by period.
Step 3
First period
Identify the shorter of:
(a) the period between the operative time and the end of the financial year in which the operative time occurs; and
(b) the period between the operative time and the day before the associate preserved benefit becomes payable.
This is the first period.
Multiply the number of days in the first period by the Treasury bond rate for bonds with a 10 year term that is applicable to the financial year in which the first period occurs, and divide the result by 365.
Round the result to 3 decimal places.
The result is the applicable Treasury bond rate for the first period.
Step 4
Full financial years (if any)
Use this step if a full financial year occurs immediately after the end of the first period and before the associate preserved benefit becomes payable. This is the second period.
Identify the Treasury bond rate for bonds with a 10 year term that is applicable to the financial year.
Round the result to 3 decimal places.
The result is the applicable Treasury bond rate for the second period.
Repeat this arrangement for each full financial year after the second period.
Step 5
Final period (if any)
Use this step if:
(a) there is any period between the end of a financial year and the time at which the associate preserved benefit first becomes payable; and
(b) neither step 3 nor step 4 covers that period.
This is the final period.
Multiply the number of days in the final period by the Treasury bond rate for bonds with a 10 year term that is applicable to the financial year in which the final period occurs, and divide the result by 365.
Round the result to 3 decimal places.
The result is the applicable Treasury bond rate for the final period.
16.3.2 The benefit becomes payable at the later of the operative time and the relevant time. The relevant time is the earlier or earliest of whichever of the following dates are applicable to the associate:
(a) the date the Board decides that the associate is suffering from a terminal medical condition; or
(b) the date the Board decides that the associate is unlikely, because of a physical or mental incapacity, ever to be able to work again in a job for which he/she is reasonably qualified by education, training or experience or could reasonably be qualified after retraining; or
(c) if the associate is entitled to a payment under Rule 16.3.9—the date the Board is satisfied that the associate departed from Australia permanently; or
(d) the date notified to the Board under Rule 16.3.3; or
(e) the date the associate reaches age 65.
16.3.3 The associate may give a written notice to the Board specifying a date that is not earlier than the date the associate reaches age 55.
Benefit options – on reaching certain ages
16.3.4 This rule applies to an associate whose associate preserved benefit has become payable on a date mentioned in paragraph 16.3.2(d) or (e). The associate may choose:
(a) to be paid a lump sum of that part of his/her associate preserved benefit that the SIS Act permits to be paid in cash, or a lump sum of less than that amount, and:
(i) roll-over the balance of his/her associate preserved benefit; or
(ii) if the balance is 50% or more of his/her associate preserved benefit and the associate preserved benefit includes all of the funded component, convert the balance into an associate preserved pension, provided that the payment of the associate preserved pension is permitted by the SIS Act; or
(b) to take his/her associate preserved benefit as an associate preserved pension provided that the associate preserved benefit includes all of the funded component and the payment of the associate preserved pension is permitted by the SIS Act; or
(c) to roll-over his/her associate preserved benefit.
16.3.5 The amount of associate preserved pension is calculated as follows:
(a) work through each step in the order set out below:
Step 1
Identify the amount, if any, of the associate preserved benefit to be converted to associate preserved pension.
Note This is the balance described in subparagraph 16.3.4(a)(ii) or the full amount as provided for by paragraph 16.3.4(b).
Step 2
Work out a pension factor (F y+m) based on the associate’s gender and age, using the formula:
where
Fy is:
the valuation factor mentioned in Table 2 of Division 7, applicable, when the pension first becomes payable, to the associate’s gender and age in completed years;
m is the number of completed months of the associate’s age, when the pension first becomes payable, that are not included in the associate’s age in completed years; and
FY + 1 is the valuation factor mentioned in Table 2 of Division 7 that would apply if the person's age in completed years at the operative time were 1 year more than it is.
Note The associate preserved pension does not include a reversionary component.
Step 3
Divide the amount identified in step 1, by the pension factor worked out in step 2.
The result is the annual rate of the associate preserved pension.
(b) however, if it is not possible to calculate the annual rate of associate preserved pension using paragraph (a), the annual rate of associate preserved pension payable to an associate is to be calculated by an actuary appointed by the Board for this rule.
Benefit options – terminal medical condition or incapacity
16.3.6 An associate whose associate preserved benefit has become payable under Rule 16.3.2 on the date the Board decides the benefit is payable on grounds of a terminal medical condition or a physical or mental incapacity may choose:
(a) to take his/her associate preserved benefit:
(i) entirely as a associate preserved pension; or
(ii) as part associate preserved pension, provided that the associate preserved benefit includes all of the funded component, by converting at least all of the unfunded component into associate preserved pension, and the balance paid as a lump sum; or
(b) to be paid his/her associate preserved benefit as a lump sum.
16.3.7 The amount of associate preserved pension is calculated as follows:
(a) work through each step in the order set out below:
Step 1
Identify the amount, if any, of the associate preserved benefit to be converted to associate preserved pension.
Note This is the full amount as provided for by subparagraph 16.3.6(a)(i) or the part described in subparagraph 16.3.6(a)(ii).
Step 2
Work out a pension factor (F y+m) based on the associate’s gender and age, using the formula:
where
Fy is:
the valuation factor mentioned in Table 3 of Division 7, applicable, when the pension first becomes payable, to the associate’s gender and age in completed years;
m is the number of completed months of the associate’s age, when the pension first becomes payable, that are not included in the associate’s age in completed years; and
FY + 1 is the valuation factor mentioned in Table 3 of Division 7 that would apply if the person's age in completed years at the operative time were 1 year more than it is.
Note The associate preserved pension does not include a reversionary component.
Step 3
Divide the amount identified in step 1 by the pension factor worked out in step 2.
The result is the annual rate of the associate preserved pension.
(b) however, if it is not possible to calculate the annual rate of associate preserved pension using paragraph (a), the annual rate of associate preserved pension payable to an associate is to be calculated by an actuary appointed by the Board for this rule.
Payment of lump sum on death of a non-member spouse
16.3.8 If the associate dies before his/her associate preserved benefit becomes payable, the Board must pay the benefit as a lump sum to his/her legal personal representative or, if no legal personal representative can be found, to any individual or individuals that the Board determines.
Payment of lump sum on leaving Australia permanently
16.3.9 An associate is to be paid his/her associate preserved benefit as a lump sum if:
(a) the Board is satisfied that he/she is departing from Australia permanently; and
(b) the payment is permitted by the SIS Act.
Access to all or part of associate preserved benefit
16.3.10 An associate who applies to the Board for the early release of his/her associate preserved benefit on the grounds of severe financial hardship may, at any time, choose to be paid a lump sum to the value approved by the Board and have the balance of the associate preserved benefit (if any) remain in the scheme.
16.3.11 An associate who applies to the Australian Prudential Regulation Authority for the early release of his/her associate preserved benefit on compassionate grounds may, at any time, choose to be paid a lump sum to the value approved by the Australian Prudential Regulation Authority and have the balance of the associate preserved benefit (if any) remain in the scheme.
16.3.12 An associate who has been paid a lump sum under Rules 16.3.10 or 16.3.11 can be paid further amounts under those Rules provided that any further payments have been approved by the Australian Prudential Regulation Authority, or the Board, as the case may be.
Payment of amounts by the Board to the Commonwealth
16.3.13 When the funded component, or part of that component, becomes payable, an equal amount must be paid by the Board out of the PSS Fund to the Commonwealth.
| Division 4 | Reduction of benefits for member spouse – operative time during growth phase |
Operative time during growth phase – reduction of benefits
16.4.1 This Division applies if:
(a) at the operative time, standard pension is not payable in respect of the original interest; and
(b) the original interest is not an entitlement to associate preserved benefit.
Reduction of accumulated contributions etc.
16.4.2 At the operative time the following amounts are reduced in respect of the original interest:
(a) the accumulated member contributions are reduced by the member contributions component; and
(b) the accumulated productivity contributions are reduced by the productivity contributions component; and
(c) the accumulated transfer amount and the Transfer Multiple Amount are reduced by the additional accumulation component.
Reduction of benefit multiple where member spouse not a preserved benefit member
16.4.3 Where the member spouse is not a preserved benefit member the Benefit Accrual Multiple (see Divisions 2 and 3 of Part 5) is reduced in respect of the original interest by the Reduction Multiple, which is calculated by multiplying the Benefit Accrual Multiple immediately before the operative time by the separation factor.
Note:
The reduction multiple is not to be taken into account when determining if the maximum benefit limit applies to the member spouse. (See Divisions 6 and 7 of Part 5.)
Reduction of maximum benefits on cessation of membership
16.4.4 Where a reduction is made under Rule 16.4.3 in relation to a member spouse, when he/she ceases membership his/her maximum benefit at that time will be calculated in accordance with the following steps:
Step 1
Identify the original reduction multiple that applied to the person at the operative time.
Step 2
Calculate the maximum benefit lump sum that would be payable apart from this rule not taking the reduction multiple into account.
Step 3
Divide the amount calculated at step 2 by the person’s average salary to produce a multiple.
Step 4
Calculate a revised reduction multiple by applying the separation factor to the multiple calculated at step 3.
Step 5
Compare the two reduction multiples.
Step 6
Recalculate the maximum benefit by using the lesser of the reduction multiples.
Reduction of unfunded preserved benefit where member spouse is a preserved benefit member
16.4.5 At the operative time the unfunded preserved benefit is reduced in respect of the original interest by the unfunded component.
Reduction not to affect later non-standard pension
16.4.6 A reduction under this Part is to be disregarded in calculating the amount of any non-standard pension that later becomes payable.
Note:
For example, the reduction will be disregarded in calculating the amount of pension payable in respect of a child of the member spouse after the member spouse’s death where there is no pension payable to an eligible spouse (see Rules 7.1.4, 7.3.2 and 7.3.7).
| Division 5 | Reduction of benefits for member spouse – operative time during growth phase - |
Operative time during growth phase – reduction where original interest is entitlement to associate preserved benefit
16.5.1 This Division applies if:
(a) at the operative time, standard pension is not payable in respect of the original interest; and
(b) the original interest is an entitlement to associate preserved benefit.
16.5.2 The following amounts are reduced in respect of the original interest from the operative time:
(a) the funded component is reduced by the funded component of the later separation amount; and
(b) the unfunded component is reduced by the unfunded component of the later separation amount.
| Division 6 | Reduction of benefits for member spouse – operative time during payment phase - |
Operative time during payment phase – reduction of pension
16.6.1 If, at the operative time, standard pension is payable in respect of the original interest, the annual rate of that pension is reduced as follows:
(a) work through each step in the order set out below:
Step 1
Identify the annual rate of standard pension that was payable in relation to the member spouse immediately before the operative time.
Step 2
If that annual rate of standard pension takes account of the existence of 1 or more eligible children or partially dependent children, deduct the part of the annual rate that takes account of the existence of those children.
Step 3
Work out a pension factor (F y+m) based on the member spouse’s gender, age and kind of standard pension, using the formula:
where
Fy is the valuation factor mentioned in Table 4 of Division 7 applicable, at the operative time, to the member spouse’s gender and age in completed years;
m is the number of completed months of the member spouse’s age, at the operative time, that are not included in the member spouse’s age in completed years; and
FY + 1 is the valuation factor mentioned in Table 4 of Division 7 that would apply if the person's age in completed years at the operative time were 1 year more than it is.
Step 4
Multiply the annual rate of standard pension by the pension factor worked out in step 3.
Step 5
Subtract the separation amount from the amount worked out in step 4.
Step 6
Divide the amount worked out in step 5 by the pension factor worked out in step 3.
Step 7
If step 2 applies, increase the rate worked out in step 6 by the part of the rate that was deducted under step 2.
The result is the annual rate of the standard pension payable after the operative time in respect of the original interest.
(b) however, if it is not possible to calculate the annual rate of standard pension using paragraph (a), the annual rate of standard pension payable to a member spouse is to be calculated by an actuary appointed by the Board for this rule.
16.6.2 A reduction under this Division is to be disregarded in calculating the amount of any non-standard pension that later becomes payable.
Note:
For example, the reduction will be disregarded in calculating the amount of pension payable in respect of a child of the member spouse after the member spouse’s death where there is no pension payable to an eligible spouse (See Part 9).
| Division 7 | Pension factor tables |
Table 1 Factors for Rule 16.2.4 (associate standard pension)
| Age | Male | Female |
| 18 | 26.3640 | 26.7782 |
| 19 | 26.2482 | 26.6732 |
| 20 | 26.1296 | 26.5646 |
| 21 | 26.0078 | 26.4520 |
| 22 | 25.8820 | 26.3353 |
| 23 | 25.7520 | 26.2139 |
| 24 | 25.6173 | 26.0881 |
| 25 | 25.4777 | 25.9580 |
| 26 | 25.3329 | 25.8230 |
| 27 | 25.1831 | 25.6831 |
| 28 | 25.0278 | 25.5380 |
| 29 | 24.8673 | 25.3882 |
| 30 | 24.7010 | 25.2331 |
| 31 | 24.5288 | 25.0729 |
| 32 | 24.3507 | 24.9075 |
| 33 | 24.1663 | 24.7366 |
| 34 | 23.9752 | 24.5601 |
| 35 | 23.7776 | 24.3776 |
| 36 | 23.5729 | 24.1891 |
| 37 | 23.3611 | 23.9945 |
| 38 | 23.1420 | 23.7935 |
| 39 | 22.9154 | 23.5858 |
| 40 | 22.6810 | 23.3714 |
| 41 | 22.4386 | 23.1501 |
| 42 | 22.1883 | 22.9218 |
| 43 | 21.9297 | 22.6859 |
| 44 | 21.6628 | 22.4428 |
| 45 | 21.3871 | 22.1923 |
| 46 | 21.1027 | 21.9342 |
| 47 | 20.8092 | 21.6685 |
| 48 | 20.5067 | 21.3952 |
| 49 | 20.1950 | 21.1142 |
| 50 | 19.8739 | 20.8255 |
| 51 | 19.5432 | 20.5288 |
| 52 | 19.2031 | 20.2243 |
| 53 | 18.8532 | 19.9120 |
| 54 | 18.4930 | 19.5917 |
| 55 | 18.1225 | 19.2634 |
| 56 | 17.7415 | 18.9269 |
| 57 | 17.3499 | 18.5823 |
| 58 | 16.9480 | 18.2295 |
| 59 | 16.5367 | 17.8676 |
| 60 | 16.1165 | 17.4964 |
| 61 | 15.6878 | 17.1160 |
| 62 | 15.2511 | 16.7265 |
| 63 | 14.8066 | 16.3282 |
| 64 | 14.3560 | 15.9216 |
| 65 | 13.8997 | 15.5068 |
| 66 | 13.4381 | 15.0840 |
| 67 | 12.9714 | 14.6534 |
| 68 | 12.4999 | 14.2153 |
| 69 | 12.0258 | 13.7694 |
| 70 | 11.5498 | 13.3165 |
| 71 | 11.0725 | 12.8570 |
| 72 | 10.5947 | 12.3914 |
| 73 | 10.1167 | 11.9209 |
| 74 | 9.6391 | 11.4444 |
| 75 | 9.1628 | 10.9622 |
| 76 | 8.6904 | 10.4746 |
| 77 | 8.2246 | 9.9819 |
| 78 | 7.7680 | 9.4839 |
| 79 | 7.3227 | 8.9898 |
| 80 | 6.8904 | 8.5015 |
| 81 | 6.4723 | 8.0212 |
| 82 | 6.0694 | 7.5488 |
| 83 | 5.6819 | 7.0864 |
| 84 | 5.3152 | 6.6364 |
| 85 | 4.9690 | 6.2002 |
| 86 | 4.6429 | 5.7793 |
| 87 | 4.3357 | 5.3695 |
| 88 | 4.0458 | 4.9690 |
| 89 | 3.7729 | 4.5892 |
| 90 | 3.5166 | 4.2309 |
| 91 | 3.2763 | 3.8948 |
| 92 | 3.0522 | 3.5816 |
| 93 | 2.8443 | 3.2928 |
| 94 | 2.6509 | 3.0212 |
| 95 | 2.4715 | 2.7655 |
Table 2 Factors for Rule 16.3.5 (associate preserved pension)
| Age | Male | Female |
| 18 | 26.3640 | 26.7782 |
| 19 | 26.2482 | 26.6732 |
| 20 | 26.1296 | 26.5646 |
| 21 | 26.0078 | 26.4520 |
| 22 | 25.8820 | 26.3353 |
| 23 | 25.7520 | 26.2139 |
| 24 | 25.6173 | 26.0881 |
| 25 | 25.4777 | 25.9580 |
| 26 | 25.3329 | 25.8230 |
| 27 | 25.1831 | 25.6831 |
| 28 | 25.0278 | 25.5380 |
| 29 | 24.8673 | 25.3882 |
| 30 | 24.7010 | 25.2331 |
| 31 | 24.5288 | 25.0729 |
| 32 | 24.3507 | 24.9075 |
| 33 | 24.1663 | 24.7366 |
| 34 | 23.9752 | 24.5601 |
| 35 | 23.7776 | 24.3776 |
| 36 | 23.5729 | 24.1891 |
| 37 | 23.3611 | 23.9945 |
| 38 | 23.1420 | 23.7935 |
| 39 | 22.9154 | 23.5858 |
| 40 | 22.6810 | 23.3714 |
| 41 | 22.4386 | 23.1501 |
| 42 | 22.1883 | 22.9218 |
| 43 | 21.9297 | 22.6859 |
| 44 | 21.6628 | 22.4428 |
| 45 | 21.3871 | 22.1923 |
| 46 | 21.1027 | 21.9342 |
| 47 | 20.8092 | 21.6685 |
| 48 | 20.5067 | 21.3952 |
| 49 | 20.1950 | 21.1142 |
| 50 | 19.8739 | 20.8255 |
| 51 | 19.5432 | 20.5288 |
| 52 | 19.2031 | 20.2243 |
| 53 | 18.8532 | 19.9120 |
| 54 | 18.4930 | 19.5917 |
| 55 | 18.1225 | 19.2634 |
| 56 | 17.7415 | 18.9269 |
| 57 | 17.3499 | 18.5823 |
| 58 | 16.9480 | 18.2295 |
| 59 | 16.5367 | 17.8676 |
| 60 | 16.1165 | 17.4964 |
| 61 | 15.6878 | 17.1160 |
| 62 | 15.2511 | 16.7265 |
| 63 | 14.8066 | 16.3282 |
| 64 | 14.3560 | 15.9216 |
| 65 | 13.8997 | 15.5068 |
| 66 | 13.4381 | 15.0840 |
| 67 | 12.9714 | 14.6534 |
| 68 | 12.4999 | 14.2153 |
| 69 | 12.0258 | 13.7694 |
| 70 | 11.5498 | 13.3165 |
| 71 | 11.0725 | 12.8570 |
| 72 | 10.5947 | 12.3914 |
| 73 | 10.1167 | 11.9209 |
| 74 | 9.6391 | 11.4444 |
| 75 | 9.1628 | 10.9622 |
| 76 | 8.6904 | 10.4746 |
| 77 | 8.2246 | 9.9819 |
| 78 | 7.7680 | 9.4839 |
| 79 | 7.3227 | 8.9898 |
| 80 | 6.8904 | 8.5015 |
| 81 | 6.4723 | 8.0212 |
| 82 | 6.0694 | 7.5488 |
| 83 | 5.6819 | 7.0864 |
| 84 | 5.3152 | 6.6364 |
| 85 | 4.9690 | 6.2002 |
| 86 | 4.6429 | 5.7793 |
| 87 | 4.3357 | 5.3695 |
| 88 | 4.0458 | 4.9690 |
| 89 | 3.7729 | 4.5892 |
| 90 | 3.5166 | 4.2309 |
| 91 | 3.2763 | 3.8948 |
| 92 | 3.0522 | 3.5816 |
| 93 | 2.8443 | 3.2928 |
| 94 | 2.6509 | 3.0212 |
| 95 | 2.4715 | 2.7655 |
Table 3 Factors for Rule 16.3.7 (associate standard pension — invalidity)
| Age | Male | Female |
| 18 | 25.5786 | 26.0484 |
| 19 | 25.4549 | 25.9315 |
| 20 | 25.3269 | 25.8098 |
| 21 | 25.1943 | 25.6834 |
| 22 | 25.0571 | 25.5522 |
| 23 | 24.9153 | 25.4164 |
| 24 | 24.7685 | 25.2757 |
| 25 | 24.6166 | 25.1302 |
| 26 | 24.4591 | 24.9800 |
| 27 | 24.2957 | 24.8249 |
| 28 | 24.1261 | 24.6647 |
| 29 | 23.9501 | 24.4995 |
| 30 | 23.7678 | 24.3290 |
| 31 | 23.5791 | 24.1529 |
| 32 | 23.3840 | 23.9709 |
| 33 | 23.1821 | 23.7830 |
| 34 | 22.9735 | 23.5890 |
| 35 | 22.7580 | 23.3887 |
| 36 | 22.5354 | 23.1821 |
| 37 | 22.3057 | 22.9692 |
| 38 | 22.0688 | 22.7499 |
| 39 | 21.8246 | 22.5242 |
| 40 | 21.5728 | 22.2921 |
| 41 | 21.3131 | 22.0529 |
| 42 | 21.0455 | 21.8063 |
| 43 | 20.7702 | 21.5523 |
| 44 | 20.4870 | 21.2909 |
| 45 | 20.1961 | 21.0219 |
| 46 | 19.8970 | 20.7458 |
| 47 | 19.5896 | 20.4628 |
| 48 | 19.2742 | 20.1727 |
| 49 | 18.9508 | 19.8756 |
| 50 | 18.6194 | 19.5713 |
| 51 | 18.2804 | 19.2605 |
| 52 | 17.9342 | 18.9430 |
| 53 | 17.5806 | 18.6191 |
| 54 | 17.2199 | 18.2887 |
| 55 | 16.8291 | 17.9811 |
| 56 | 16.4303 | 17.6169 |
| 57 | 16.0240 | 17.2453 |
| 58 | 15.6106 | 16.8663 |
| 59 | 15.1921 | 16.4796 |
| 60 | 14.7694 | 16.0848 |
| 61 | 14.3433 | 15.6822 |
| 62 | 13.9146 | 15.2721 |
| 63 | 13.4843 | 14.8546 |
| 64 | 13.0529 | 14.4307 |
| 65 | 12.6211 | 14.0005 |
| 66 | 12.1897 | 13.5646 |
| 67 | 11.7594 | 13.1232 |
| 68 | 11.3306 | 12.6769 |
| 69 | 10.9023 | 12.2244 |
| 70 | 10.4750 | 11.7665 |
| 71 | 10.0487 | 11.3037 |
| 72 | 9.6234 | 10.8367 |
| 73 | 9.1990 | 10.3663 |
| 74 | 8.7758 | 9.8962 |
| 75 | 8.3548 | 9.4283 |
| 76 | 7.9375 | 8.9644 |
| 77 | 7.5263 | 8.5071 |
| 78 | 7.1230 | 8.0588 |
| 79 | 6.7315 | 7.6202 |
| 80 | 6.3532 | 7.1927 |
| 81 | 5.9897 | 6.7767 |
| 82 | 5.6421 | 6.3715 |
| 83 | 5.3114 | 5.9775 |
| 84 | 4.9999 | 5.5987 |
| 85 | 4.7077 | 5.2366 |
| 86 | 4.4346 | 4.8936 |
| 87 | 4.1802 | 4.5724 |
| 88 | 3.9444 | 4.2766 |
| 89 | 3.7170 | 4.0027 |
| 90 | 3.4956 | 3.7506 |
| 91 | 3.2763 | 3.5190 |
| 92 | 3.0522 | 3.3048 |
| 93 | 2.8443 | 3.1024 |
| 94 | 2.6509 | 2.9070 |
| 95 | 2.4715 | 2.7125 |
Table 4 Factors for Rule 16.6.1
| Male Member Pension in payment | Female Member Pension in payment | Spouse Pension in payment | Associate Standard Pension or | |||||||||
| Age | Invalidity | Age | Invalidity | Age | Invalidity | |||||||
| Age | 67% reversion | 85% reversion | 67% reversion | 85% reversion | Male | Female | Male | Female | Male | Female | ||
| 18 | 26.8575 | 26.9932 | 26.5236 | 26.9984 | 27.0590 | 26.6625 | 25.7376 | 26.5636 | 26.3640 | 26.7782 | 25.5786 | 26.0484 |
| 19 | 26.7566 | 26.8964 | 26.4137 | 26.9004 | 26.9629 | 26.5530 | 25.6046 | 26.4521 | 26.2482 | 26.6732 | 25.4549 | 25.9315 |
| 20 | 26.6529 | 26.7968 | 26.3014 | 26.7990 | 26.8635 | 26.4400 | 25.4700 | 26.3367 | 26.1296 | 26.5646 | 25.3269 | 25.8098 |
| 21 | 26.5461 | 26.6942 | 26.1854 | 26.6939 | 26.7604 | 26.3230 | 25.3324 | 26.2170 | 26.0078 | 26.4520 | 25.1943 | 25.6834 |
| 22 | 26.4358 | 26.5881 | 26.0654 | 26.5848 | 26.6535 | 26.2014 | 25.1908 | 26.0926 | 25.8820 | 26.3353 | 25.0571 | 25.5522 |
| 23 | 26.3217 | 26.4783 | 25.9412 | 26.4717 | 26.5425 | 26.0748 | 25.0443 | 25.9633 | 25.7520 | 26.2139 | 24.9153 | 25.4164 |
| 24 | 26.2034 | 26.3646 | 25.8127 | 26.3543 | 26.4275 | 25.9435 | 24.8923 | 25.8294 | 25.6173 | 26.0881 | 24.7685 | 25.2757 |
| 25 | 26.0809 | 26.2468 | 25.6796 | 26.2329 | 26.3085 | 25.8072 | 24.7347 | 25.6905 | 25.4777 | 25.9580 | 24.6166 | 25.1302 |
| 26 | 25.9539 | 26.1246 | 25.5418 | 26.1070 | 26.1851 | 25.6661 | 24.5711 | 25.5464 | 25.3329 | 25.8230 | 24.4591 | 24.9800 |
| 27 | 25.8223 | 25.9981 | 25.3991 | 25.9765 | 26.0572 | 25.5199 | 24.4017 | 25.3973 | 25.1831 | 25.6831 | 24.2957 | 24.8249 |
| 28 | 25.6860 | 25.8671 | 25.2513 | 25.8412 | 25.9246 | 25.3688 | 24.2264 | 25.2427 | 25.0278 | 25.5380 | 24.1261 | 24.6647 |
| 29 | 25.5451 | 25.7314 | 25.0979 | 25.7014 | 25.7875 | 25.2126 | 24.0449 | 25.0828 | 24.8673 | 25.3882 | 23.9501 | 24.4995 |
| 30 | 25.3990 | 25.5910 | 24.9388 | 25.5567 | 25.6456 | 25.0512 | 23.8571 | 24.9178 | 24.7010 | 25.2331 | 23.7678 | 24.3290 |
| 31 | 25.2477 | 25.4454 | 24.7738 | 25.4070 | 25.4989 | 24.8844 | 23.6628 | 24.7474 | 24.5288 | 25.0729 | 23.5791 | 24.1529 |
| 32 | 25.0912 | 25.2949 | 24.6027 | 25.2524 | 25.3472 | 24.7122 | 23.4618 | 24.5715 | 24.3507 | 24.9075 | 23.3840 | 23.9709 |
| 33 | 24.9291 | 25.1389 | 24.4256 | 25.0925 | 25.1904 | 24.5344 | 23.2536 | 24.3898 | 24.1663 | 24.7366 | 23.1821 | 23.7830 |
| 34 | 24.7612 | 24.9773 | 24.2420 | 24.9272 | 25.0282 | 24.3506 | 23.0380 | 24.2023 | 23.9752 | 24.5601 | 22.9735 | 23.5890 |
| 35 | 24.5874 | 24.8101 | 24.0523 | 24.7563 | 24.8605 | 24.1605 | 22.8149 | 24.0088 | 23.7776 | 24.3776 | 22.7580 | 23.3887 |
| 36 | 24.4074 | 24.6369 | 23.8558 | 24.5797 | 24.6871 | 23.9642 | 22.5838 | 23.8091 | 23.5729 | 24.1891 | 22.5354 | 23.1821 |
| 37 | 24.2211 | 24.4576 | 23.6528 | 24.3972 | 24.5079 | 23.7615 | 22.3448 | 23.6030 | 23.3611 | 23.9945 | 22.3057 | 22.9692 |
| 38 | 24.0282 | 24.2719 | 23.4429 | 24.2085 | 24.3226 | 23.5520 | 22.0975 | 23.3902 | 23.1420 | 23.7935 | 22.0688 | 22.7499 |
| 39 | 23.8287 | 24.0798 | 23.2259 | 24.0134 | 24.1310 | 23.3358 | 21.8418 | 23.1707 | 22.9154 | 23.5858 | 21.8246 | 22.5242 |
| 40 | 23.6222 | 23.8810 | 23.0019 | 23.8119 | 23.9331 | 23.1127 | 21.5777 | 22.9444 | 22.6810 | 23.3714 | 21.5728 | 22.2921 |
| 41 | 23.3762 | 23.6341 | 22.7280 | 23.5766 | 23.6939 | 22.8458 | 21.3049 | 22.7111 | 22.4386 | 23.1501 | 21.3131 | 22.0529 |
| 42 | 23.1211 | 23.3776 | 22.4442 | 23.3328 | 23.4458 | 22.5696 | 21.0233 | 22.4705 | 22.1883 | 22.9218 | 21.0455 | 21.8063 |
| 43 | 22.8565 | 23.1113 | 22.1502 | 23.0801 | 23.1885 | 22.2841 | 20.7332 | 22.2224 | 21.9297 | 22.6859 | 20.7702 | 21.5523 |
| 44 | 22.5821 | 22.8349 | 21.8455 | 22.8187 | 22.9221 | 21.9887 | 20.4344 | 21.9670 | 21.6628 | 22.4428 | 20.4870 | 21.2909 |
| 45 | 22.2976 | 22.5480 | 21.5301 | 22.5483 | 22.6463 | 21.6831 | 20.1269 | 21.7043 | 21.3871 | 22.1923 | 20.1961 | 21.0219 |
| 46 | 22.0028 | 22.2504 | 21.2038 | 22.2688 | 22.3608 | 21.3671 | 19.8110 | 21.4341 | 21.1027 | 21.9342 | 19.8970 | 20.7458 |
| 47 | 21.6974 | 21.9417 | 20.8664 | 21.9800 | 22.0656 | 21.0409 | 19.4864 | 21.1567 | 20.8092 | 21.6685 | 19.5896 | 20.4628 |
| 48 | 21.3812 | 21.6217 | 20.5177 | 21.6819 | 21.7608 | 20.7042 | 19.1532 | 20.8720 | 20.5067 | 21.3952 | 19.2742 | 20.1727 |
| 49 | 21.0540 | 21.2902 | 20.1575 | 21.3744 | 21.4460 | 20.3574 | 18.8116 | 20.5801 | 20.1950 | 21.1142 | 18.9508 | 19.8756 |
| 50 | 20.7154 | 20.9469 | 19.7855 | 21.0575 | 21.1213 | 20.0005 | 18.4621 | 20.2809 | 19.8739 | 20.8255 | 18.6194 | 19.5713 |
| 51 | 20.2789 | 20.4812 | 19.2903 | 20.7309 | 20.7864 | 19.6336 | 18.1044 | 19.9745 | 19.5432 | 20.5288 | 18.2804 | 19.2605 |
| 52 | 19.8259 | 19.9971 | 18.7777 | 20.3946 | 20.4415 | 19.2566 | 17.7390 | 19.6612 | 19.2031 | 20.2243 | 17.9342 | 18.9430 |
| 53 | 19.3560 | 19.4942 | 18.2476 | 20.0489 | 20.0865 | 18.8696 | 17.3661 | 19.3408 | 18.8532 | 19.9120 | 17.5806 | 18.6191 |
| 54 | 18.8686 | 18.9719 | 17.7004 | 19.6935 | 19.7214 | 18.4731 | 16.9860 | 19.0130 | 18.4930 | 19.5917 | 17.2199 | 18.2887 |
| 55 | 18.3635 | 18.4298 | 17.1365 | 19.3283 | 19.3462 | 18.0671 | 16.5994 | 18.6777 | 18.1225 | 19.2634 | 16.8291 | 17.9811 |
| 56 | 17.9889 | 18.0569 | 16.7447 | 18.9932 | 19.0114 | 17.7044 | 16.2071 | 18.3346 | 17.7415 | 18.9269 | 16.4303 | 17.6169 |
| 57 | 17.6037 | 17.6735 | 16.3453 | 18.6499 | 18.6685 | 17.3344 | 15.8102 | 17.9837 | 17.3499 | 18.5823 | 16.0240 | 17.2453 |
| 58 | 17.2083 | 17.2798 | 15.9385 | 18.2983 | 18.3173 | 16.9568 | 15.4097 | 17.6248 | 16.9480 | 18.2295 | 15.6106 | 16.8663 |
| 59 | 16.8034 | 16.8767 | 15.5264 | 17.9377 | 17.9570 | 16.5714 | 15.0038 | 17.2578 | 16.5367 | 17.8676 | 15.1921 | 16.4796 |
| 60 | 16.3895 | 16.4646 | 15.1097 | 17.5677 | 17.5873 | 16.1780 | 14.5929 | 16.8824 | 16.1165 | 17.4964 | 14.7694 | 16.0848 |
| 61 | 15.9670 | 16.0438 | 14.6892 | 17.1885 | 17.2084 | 15.7767 | 14.1772 | 16.4988 | 15.6878 | 17.1160 | 14.3433 | 15.6822 |
| 62 | 15.5363 | 15.6148 | 14.2657 | 16.8001 | 16.8204 | 15.3677 | 13.7567 | 16.1071 | 15.2511 | 16.7265 | 13.9146 | 15.2721 |
| 63 | 15.0977 | 15.1778 | 13.8400 | 16.4031 | 16.4236 | 14.9514 | 13.3312 | 15.7074 | 14.8066 | 16.3282 | 13.4843 | 14.8546 |
| 64 | 14.6527 | 14.7342 | 13.4127 | 15.9975 | 16.0184 | 14.5284 | 12.9046 | 15.2999 | 14.3560 | 15.9216 | 13.0529 | 14.4307 |
| 65 | 14.2016 | 14.2846 | 12.9843 | 15.5837 | 15.6049 | 14.0992 | 12.4775 | 14.8847 | 13.8997 | 15.5068 | 12.6211 | 14.0005 |
| 66 | 13.7448 | 13.8292 | 12.5558 | 15.1619 | 15.1833 | 13.6640 | 12.0503 | 14.4617 | 13.4381 | 15.0840 | 12.1897 | 13.5646 |
| 67 | 13.2826 | 13.3682 | 12.1275 | 14.7322 | 14.7539 | 13.2234 | 11.6231 | 14.0309 | 12.9714 | 14.6534 | 11.7594 | 13.1232 |
| 68 | 12.8152 | 12.9019 | 11.7002 | 14.2948 | 14.3167 | 12.7776 | 11.1959 | 13.5917 | 12.4999 | 14.2153 | 11.3306 | 12.6769 |
| 69 | 12.3446 | 12.4323 | 11.2727 | 13.8498 | 13.8719 | 12.3255 | 10.7720 | 13.1468 | 12.0258 | 13.7694 | 10.9023 | 12.2244 |
| 70 | 11.8716 | 11.9601 | 10.8454 | 13.3975 | 13.4198 | 11.8680 | 10.3522 | 12.6966 | 11.5498 | 13.3165 | 10.4750 | 11.7665 |
| 71 | 11.3968 | 11.4860 | 10.4185 | 12.9385 | 12.9610 | 11.4054 | 9.9375 | 12.2418 | 11.0725 | 12.8570 | 10.0487 | 11.3037 |
| 72 | 10.9208 | 11.0105 | 9.9920 | 12.4735 | 12.4961 | 10.9385 | 9.5290 | 11.7832 | 10.5947 | 12.3914 | 9.6234 | 10.8367 |
| 73 | 10.4440 | 10.5340 | 9.5657 | 12.0033 | 12.0260 | 10.4681 | 9.1276 | 11.3218 | 10.1167 | 11.9209 | 9.1990 | 10.3663 |
| 74 | 9.9668 | 10.0570 | 9.1401 | 11.5271 | 11.5498 | 9.9978 | 8.7262 | 10.8571 | 9.6391 | 11.4444 | 8.7758 | 9.8962 |
| 75 | 9.4905 | 9.5806 | 8.7160 | 11.0451 | 11.0679 | 9.5295 | 8.3253 | 10.3897 | 9.1628 | 10.9622 | 8.3548 | 9.4283 |
| 76 | 9.0172 | 9.1070 | 8.2949 | 10.5577 | 10.5805 | 9.0650 | 7.9263 | 9.9207 | 8.6904 | 10.4746 | 7.9375 | 8.9644 |
| 77 | 8.5496 | 8.6390 | 7.8791 | 10.0650 | 10.0879 | 8.6069 | 7.5308 | 9.4512 | 8.2246 | 9.9819 | 7.5263 | 8.5071 |
| 78 | 8.0904 | 8.1791 | 7.4705 | 9.5670 | 9.5899 | 8.1576 | 7.1401 | 8.9822 | 7.7680 | 9.4839 | 7.1230 | 8.0588 |
| 79 | 7.6415 | 7.7292 | 7.0727 | 9.0727 | 9.0956 | 7.7178 | 6.7597 | 8.5181 | 7.3227 | 8.9898 | 6.7315 | 7.6202 |
| 80 | 7.2047 | 7.2912 | 6.6874 | 8.5842 | 8.6069 | 7.2888 | 6.3909 | 8.0610 | 6.8904 | 8.5015 | 6.3532 | 7.1927 |
| 81 | 6.7813 | 6.8662 | 6.3159 | 8.1033 | 8.1259 | 6.8712 | 6.0345 | 7.6132 | 6.4723 | 8.0212 | 5.9897 | 6.7767 |
| 82 | 6.3721 | 6.4553 | 5.9596 | 7.6303 | 7.6527 | 6.4643 | 5.6907 | 7.1767 | 6.0694 | 7.5488 | 5.6421 | 6.3715 |
| 83 | 5.9776 | 6.0589 | 5.6195 | 7.1672 | 7.1894 | 6.0686 | 5.3595 | 6.7536 | 5.6819 | 7.0864 | 5.3114 | 5.9775 |
| 84 | 5.6030 | 5.6821 | 5.2980 | 6.7162 | 6.7381 | 5.6878 | 5.0467 | 6.3464 | 5.3152 | 6.6364 | 4.9999 | 5.5987 |
| 85 | 5.2483 | 5.3251 | 4.9952 | 6.2788 | 6.3004 | 5.3237 | 4.7520 | 5.9563 | 4.9690 | 6.2002 | 4.7077 | 5.2366 |
| 86 | 4.9131 | 4.9874 | 4.7111 | 5.8567 | 5.8780 | 4.9785 | 4.4748 | 5.5843 | 4.6429 | 5.7793 | 4.4346 | 4.8936 |
| 87 | 4.5964 | 4.6680 | 4.4454 | 5.4455 | 5.4664 | 4.6550 | 4.2142 | 5.2313 | 4.3357 | 5.3695 | 4.1802 | 4.5724 |
| 88 | 4.2966 | 4.3655 | 4.1980 | 5.0436 | 5.0641 | 4.3567 | 3.9684 | 4.8983 | 4.0458 | 4.9690 | 3.9444 | 4.2766 |
| 89 | 4.0135 | 4.0797 | 3.9591 | 4.6622 | 4.6822 | 4.0802 | 3.7377 | 4.5806 | 3.7729 | 4.5892 | 3.7170 | 4.0027 |
| 90 | 3.7469 | 3.8102 | 3.7265 | 4.3021 | 4.3217 | 3.8255 | 3.5224 | 4.2785 | 3.5166 | 4.2309 | 3.4956 | 3.7506 |
| 91 | 3.4962 | 3.5566 | 3.4962 | 3.9641 | 3.9831 | 3.5911 | 3.3227 | 3.9918 | 3.2763 | 3.8948 | 3.2763 | 3.5190 |
| 92 | 3.2615 | 3.3191 | 3.2615 | 3.6487 | 3.6671 | 3.3740 | 3.1398 | 3.7202 | 3.0522 | 3.5816 | 3.0522 | 3.3048 |
| 93 | 3.0429 | 3.0976 | 3.0429 | 3.3575 | 3.3753 | 3.1685 | 2.9762 | 3.4635 | 2.8443 | 3.2928 | 2.8443 | 3.1024 |
| 94 | 2.8389 | 2.8906 | 2.8389 | 3.0832 | 3.1003 | 2.9700 | 2.8229 | 3.2203 | 2.6509 | 3.0212 | 2.6509 | 2.9070 |
| 95 | 2.6490 | 2.6978 | 2.6490 | 2.8245 | 2.8408 | 2.7719 | 2.6793 | 2.9892 | 2.4715 | 2.7655 | 2.4715 | 2.7125 |
| Division 8 | Methods and Factors used to determine scheme value in relation to member spouse |
Member
16.8.1 The value of an interest that a person has as a member is to be worked out using the following formula:
ABM × AS × ABFy+m,s + AMC × (1 ‑ MCFy+m,s ) + APC × ( 1 - PCFy+m,s ) + ATA
where:
ABM is:
(a) for a maximum benefits member — the lump sum benefit the person would receive if the person ceased to be a member of the PSS scheme at the operative time, divided by the person’s average salary at the operative time; and
(b) for any other member — the benefit accrual multiple, within the meaning of Rule 5.2.1 or 5.3.1 of these Rules, as applicable, at the operative time, but excluding any excess contribution multiple that would apply if the person ceased membership of the PSS scheme at the operative time.
AS is the person’s average salary at the operative time.
ABFy+m,s is the factor calculated in accordance with the following formula:
where:
ABFy,s is the accrued benefit multiple valuation factor mentioned in whichever of Tables 1A to 1D is applicable, given the following:
(a) the person's first day of membership of the PSS scheme;
(b) the person’s gender;
(c) the person’s age in completed years at the operative time;
(d) the number of complete years between the person's first day of membership and the operative time.
m is the number of complete months of the person’s age, at the operative time, that are not included in the person’s completed years of age.
ABFy+1,s is the accrued benefit multiple valuation factor mentioned in Table 1A to 1D that would apply if the person’s age in completed years at the operative time were 1 year more than it is.
AMC is the person’s accumulated member contributions at the operative time.
MCFy+m,s is the factor calculated in accordance with the following formula:
where:
MCFy,s is the member contribution valuation factor mentioned in whichever of Tables 2A to 2D is applicable, given the following:
(a) the person's first day of membership of the PSS scheme;
(b) the person’s gender;
(c) the person’s age in completed years at the operative time;
(d) the number of complete years between the person’s first day of membership and the operative time.
m has the meaning given above.
MCFy+1,s is the member contribution valuation factor mentioned in Table 2A to 2D that would apply if the person’s age in completed years at the operative time were 1 year more than it is.
APC is the person’s accumulated productivity contributions at the operative time.
PCFy+m,s is the factor calculated in accordance with the following formula:
where:
PCFy,s is the productivity contribution valuation factor mentioned in whichever of Tables 3A to 3D is applicable, given the following:
(a) the person's first day of membership of the PSS scheme;
(b) the person’s gender;
(c) the person’s age in completed years at the operative time;
(d) the number of complete years between the person's first day of membership and the operative time.
m has the meaning given above.
PCFy+1,s is the productivity contribution valuation factor mentioned in Table 3A to 3D that would apply if the person’s age in completed years at the operative time were 1 year more than it is.
ATA is the accumulated transfer amount, or if there are 2 or more such amounts, the sum of those amounts, in respect of the person at the operative time.
Preserved benefit member eligible for benefit under paragraph 8.2.1(A)
16.8.2 This rule applies to the interest of a preserved benefit member who is eligible to receive a benefit under paragraph 8.2.1(A). The value of the interest is to be worked out using the following formula:
UDB × UDBFy+m + FDB × FDBFy+m + ATA
where:
UDB is the unfunded preserved benefit included in the preserved benefit which, under Rule 8.6.2 of these Rules, increases in line with movements in the consumer price index, as at the operative time.
UDBFy+m is the factor calculated in accordance with the following formula:
where:
UDBFy is the unfunded valuation factor, mentioned in Table 4 that applies at the person’s age in completed years, at the operative time, for the person’s gender.
m is the number of complete months of the person’s age, at the operative time, that are not included in the person’s completed years of age.
UDBFy+1 is the unfunded valuation factor mentioned in Table 4 that would apply if the person’s age in completed years at the operative time were 1 year more than it is.
FDB is the sum of the accumulated member contributions and the accumulated productivity contributions included in the preserved benefit which, under Rule 8.6.1 of these Rules, increases in line with the fund crediting rate, as at the operative time.
FDBFy+m is the factor calculated in accordance with the following formula:
where:
FDBFy is the funded valuation factor mentioned in Table 4 that applies at the person’s age in completed years, at the operative time, for the person’s gender.
m has the meaning given above.
FDBFy+1 is the funded valuation factor mentioned in Table 4 that would apply if the person’s age in completed years at the operative time were 1 year more than it is.
ATA is the accumulated transfer amount, or if there are 2 or more such amounts, the sum of those amounts, in respect of the person at the operative time.
Preserved benefit member not eligible for benefit under paragraph 8.2.1(A)
16.8.3 This rule applies to the interest of a preserved benefit member who is not eligible to receive a benefit under paragraph 8.2.1(A). The value of the interest is to be worked out using the following formula:
UDB × UDBFy+m + FDB + ATA
where:
UDB is the unfunded preserved benefit included in the preserved benefit which, under Rule 8.6.2 of these Rules, increases in line with movements in the consumer price index, as at the operative time.
UDBFy+m is the factor calculated in accordance with the following formula:
where:
UDBFy is the valuation factor mentioned in Table 5 that applies at the person’s age in completed years, at the operative time, for the person's gender.
m is the number of complete months of the person’s age, at the operative time, that are not included in the person’s completed years of age.
UDBFy+1 is the valuation factor mentioned in Table 5 that would apply if the person’s age in completed years at the operative time were 1 year more than it is.
FDB is the sum of any accumulated member contributions and any accumulated productivity contributions included in the preserved benefit which, under Rule 8.6.1 of these Rules, increases in line with the fund crediting rate, as at the operative time.
ATA is the accumulated transfer amount, or if there are 2 or more such amounts, the sum of those amounts, in respect of the person at the operative time.
Associate
16.8.4 The value of an interest that a person has as an associate is to be worked out using the following formula:
where:
FLS is the amount calculated under paragraph 16.3.1 (a) of these Rules that would be payable as a lump sum at the operative time.
UFLS is the amount calculated under paragraph 16.3.1 (b) of these Rules that would be payable as a lump sum at the operative time.
Pensioner
16.8.5 The value of an interest that a person has as a pensioner is to be worked out using the following formula:
P × Fy+m
where:
P is:
(a) for an invalidity pensioner — the annual pension amount payable to the person disregarding any reduction or suspension under Division 11 of Part 10 of these Rules; and
(b) in any other case — the annual pension amount payable to the person, other than any part of that pension that is additional pension paid in respect of 1 or more eligible children or partially dependent children.
Fy+m is the factor calculated in accordance with the following formula:
where:
Fy is the valuation factor mentioned in Table 6 that applies given the following:
(a) the person’s age in completed years at the operative time;
(b) the member’s gender;
(c) the type of pension.
m is the number of complete months of the person’s age, at the operative time, that are not included in the person’s completed years of age.
Fy+1 is the valuation factor mentioned in Table 6 that would apply if the person’s age in completed years at the operative time were 1 year more than it is.
Tables of valuation factors
16.8.6 For the purposes of this Division, the tables of valuation factors are as follows:
Table 1A Accrued benefit multiple valuation factors (ABF) (Rule 16.2.2) — males with first day of membership of the PSS on or before 30 June 1999
| Complete years between first day of membership and operative time | |||||||||||||||||
| Age | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 18 | 0.758423 | 0.779167 | 0.787277 | ||||||||||||||
| 19 | 0.713903 | 0.734013 | 0.747928 | 0.750011 | |||||||||||||
| 20 | 0.683594 | 0.703964 | 0.717963 | 0.726249 | 0.723372 | ||||||||||||
| 21 | 0.666238 | 0.686883 | 0.701781 | 0.710568 | 0.714104 | 0.734316 | |||||||||||
| 22 | 0.656943 | 0.675566 | 0.691198 | 0.701220 | 0.705449 | 0.726599 | 0.743949 | ||||||||||
| 23 | 0.653042 | 0.668917 | 0.682493 | 0.693355 | 0.698860 | 0.720069 | 0.738458 | 0.753111 | |||||||||
| 24 | 0.653326 | 0.666710 | 0.677671 | 0.686683 | 0.693352 | 0.713896 | 0.732563 | 0.748475 | 0.760743 | ||||||||
| 25 | 0.656591 | 0.668489 | 0.677048 | 0.683563 | 0.688564 | 0.708560 | 0.726758 | 0.743164 | 0.756906 | 0.760405 | |||||||
| 26 | 0.662863 | 0.673184 | 0.680384 | 0.684569 | 0.687168 | 0.703817 | 0.721678 | 0.737806 | 0.752245 | 0.756060 | 0.757600 | ||||||
| 27 | 0.671384 | 0.680715 | 0.686440 | 0.689395 | 0.689733 | 0.702440 | 0.716987 | 0.732988 | 0.747338 | 0.750719 | 0.752707 | 0.765302 | |||||
| 28 | 0.681809 | 0.690121 | 0.695038 | 0.696650 | 0.695906 | 0.704998 | 0.715584 | 0.728329 | 0.742765 | 0.745658 | 0.747356 | 0.759033 | 0.769786 | ||||
| 29 | 0.693062 | 0.701837 | 0.705842 | 0.706769 | 0.704758 | 0.711574 | 0.718487 | 0.727242 | 0.738464 | 0.741037 | 0.742375 | 0.753212 | 0.763182 | 0.772321 | |||
| 30 | 0.704197 | 0.713595 | 0.718327 | 0.718444 | 0.715857 | 0.720931 | 0.725571 | 0.730603 | 0.737808 | 0.740226 | 0.741379 | 0.751494 | 0.760790 | 0.769304 | 0.777077 | ||
| 31 | 0.716467 | 0.725393 | 0.730998 | 0.732048 | 0.728705 | 0.732817 | 0.735707 | 0.738445 | 0.741859 | 0.743962 | 0.745066 | 0.754573 | 0.763302 | 0.771288 | 0.778572 | 0.785199 | |
| 32 | 0.729628 | 0.738519 | 0.743769 | 0.745906 | 0.743660 | 0.746665 | 0.748611 | 0.749576 | 0.750660 | 0.752687 | 0.753548 | 0.762549 | 0.770805 | 0.778350 | 0.785227 | 0.791477 | 0.797145 |
| 33 | 0.743869 | 0.752779 | 0.758117 | 0.759972 | 0.758976 | 0.762311 | 0.763125 | 0.763139 | 0.762408 | 0.764266 | 0.765100 | 0.773634 | 0.781451 | 0.788588 | 0.795086 | 0.800987 | 0.806334 |
| 34 | 0.758697 | 0.767615 | 0.773146 | 0.775246 | 0.774070 | 0.777967 | 0.779215 | 0.778099 | 0.776430 | 0.777972 | 0.778688 | 0.786800 | 0.794220 | 0.800988 | 0.807145 | 0.812731 | 0.817789 |
| 35 | 0.772428 | 0.781302 | 0.786993 | 0.789437 | 0.788639 | 0.793457 | 0.795383 | 0.794787 | 0.791978 | 0.793385 | 0.793816 | 0.801525 | 0.808570 | 0.814988 | 0.820820 | 0.826108 | 0.830893 |
| 36 | 0.785832 | 0.793571 | 0.799405 | 0.802191 | 0.801909 | 0.808291 | 0.811292 | 0.811490 | 0.809287 | 0.810385 | 0.810720 | 0.818030 | 0.824701 | 0.830772 | 0.836285 | 0.841278 | 0.845792 |
| 37 | 0.800315 | 0.805600 | 0.810372 | 0.813484 | 0.813715 | 0.821824 | 0.826591 | 0.828001 | 0.826688 | 0.827679 | 0.827724 | 0.834633 | 0.840931 | 0.846657 | 0.851851 | 0.856552 | 0.860799 |
| 38 | 0.815027 | 0.818819 | 0.821074 | 0.823210 | 0.823947 | 0.833807 | 0.840525 | 0.843888 | 0.843910 | 0.844620 | 0.844588 | 0.851073 | 0.856978 | 0.862341 | 0.867200 | 0.871595 | 0.875562 |
| 39 | 0.830456 | 0.832361 | 0.833147 | 0.832722 | 0.832573 | 0.844178 | 0.852881 | 0.858402 | 0.860549 | 0.860969 | 0.860679 | 0.866733 | 0.872239 | 0.877234 | 0.881757 | 0.885844 | 0.889531 |
| 40 | 0.847314 | 0.846705 | 0.845582 | 0.843723 | 0.840982 | 0.852851 | 0.863543 | 0.871268 | 0.875766 | 0.875782 | 0.875226 | 0.880821 | 0.885904 | 0.890510 | 0.894678 | 0.898440 | 0.901832 |
| 41 | 0.861453 | 0.861246 | 0.857530 | 0.853765 | 0.849638 | 0.859833 | 0.870916 | 0.880846 | 0.887746 | 0.887516 | 0.886587 | 0.891683 | 0.896308 | 0.900496 | 0.904281 | 0.907696 | 0.910772 |
| 42 | 0.876469 | 0.876664 | 0.873540 | 0.867112 | 0.861080 | 0.868506 | 0.877930 | 0.888393 | 0.897722 | 0.897703 | 0.896579 | 0.901154 | 0.905302 | 0.909053 | 0.912441 | 0.915494 | 0.918243 |
| 43 | 0.892102 | 0.893026 | 0.890497 | 0.884826 | 0.876045 | 0.880136 | 0.886714 | 0.895528 | 0.905528 | 0.905725 | 0.904888 | 0.908944 | 0.912615 | 0.915933 | 0.918925 | 0.921621 | 0.924046 |
| 44 | 0.907775 | 0.910076 | 0.908501 | 0.903591 | 0.895706 | 0.895512 | 0.898619 | 0.904512 | 0.912872 | 0.913242 | 0.912703 | 0.916302 | 0.919557 | 0.922494 | 0.925142 | 0.927525 | 0.929667 |
| 45 | 0.919732 | 0.927294 | 0.927370 | 0.923596 | 0.916598 | 0.915962 | 0.914549 | 0.916827 | 0.922177 | 0.922579 | 0.922288 | 0.925502 | 0.928405 | 0.931023 | 0.933381 | 0.935501 | 0.937406 |
| 46 | 0.935910 | 0.940485 | 0.946478 | 0.944598 | 0.938886 | 0.937723 | 0.935885 | 0.933399 | 0.934982 | 0.935392 | 0.935192 | 0.938087 | 0.940698 | 0.943051 | 0.945168 | 0.947070 | 0.948778 |
| 47 | 0.954413 | 0.958397 | 0.961291 | 0.965949 | 0.962340 | 0.960639 | 0.958278 | 0.955376 | 0.951942 | 0.951977 | 0.951832 | 0.954449 | 0.956807 | 0.958929 | 0.960836 | 0.962549 | 0.964084 |
| 48 | 0.975500 | 0.978964 | 0.981330 | 0.982747 | 0.986271 | 0.984068 | 0.981170 | 0.977745 | 0.973900 | 0.973577 | 0.973069 | 0.975437 | 0.977568 | 0.979484 | 0.981203 | 0.982746 | 0.984128 |
| 49 | 0.999817 | 1.002755 | 1.004647 | 1.005575 | 1.005693 | 1.008257 | 1.004856 | 1.000890 | 0.996517 | 0.995876 | 0.995013 | 0.997102 | 0.998979 | 1.000664 | 1.002175 | 1.003528 | 1.004740 |
| 50 | 1.024830 | 1.027152 | 1.028534 | 1.029008 | 1.028652 | 1.027615 | 1.029356 | 1.024880 | 1.019954 | 1.018869 | 1.017690 | 1.019466 | 1.021058 | 1.022485 | 1.023763 | 1.024907 | 1.025929 |
| 51 | 1.046897 | 1.048458 | 1.049205 | 1.049166 | 1.048359 | 1.046853 | 1.044788 | 1.045785 | 1.040366 | 1.038828 | 1.037213 | 1.038625 | 1.039889 | 1.041019 | 1.042029 | 1.042932 | 1.043738 |
| 52 | 1.069576 | 1.070277 | 1.070277 | 1.069627 | 1.068338 | 1.066411 | 1.063899 | 1.060936 | 1.061303 | 1.059358 | 1.057292 | 1.058293 | 1.059187 | 1.059984 | 1.060696 | 1.061330 | 1.061896 |
| 53 | 1.093165 | 1.092857 | 1.091983 | 1.090586 | 1.088697 | 1.086303 | 1.083386 | 1.079985 | 1.076227 | 1.080463 | 1.077991 | 1.078523 | 1.078996 | 1.079417 | 1.079792 | 1.080126 | 1.080422 |
| 54 | 1.118180 | 1.116588 | 1.114665 | 1.112371 | 1.109724 | 1.106730 | 1.103355 | 1.099556 | 1.095360 | 1.095360 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 |
| 55 | 1.143206 | 1.141736 | 1.139966 | 1.137827 | 1.135275 | 1.132330 | 1.128998 | 1.125241 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 |
| 56 | 1.147231 | 1.145848 | 1.144190 | 1.142191 | 1.139777 | 1.136896 | 1.133571 | 1.129810 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 |
| 57 | 1.151939 | 1.150612 | 1.149047 | 1.147170 | 1.144908 | 1.142174 | 1.138913 | 1.135150 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 |
| 58 | 1.156256 | 1.156256 | 1.154750 | 1.152973 | 1.150843 | 1.148275 | 1.145173 | 1.141471 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 |
| 59 | 1.161239 | 1.161239 | 1.161239 | 1.159520 | 1.157491 | 1.155059 | 1.152128 | 1.148586 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 |
| 60 | 1.165278 | 1.165278 | 1.165278 | 1.165278 | 1.163244 | 1.160844 | 1.157967 | 1.154500 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 |
| 61 | 1.168636 | 1.168636 | 1.168636 | 1.168636 | 1.168636 | 1.166158 | 1.163234 | 1.159728 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 |
| 62 | 1.174442 | 1.174442 | 1.174442 | 1.174442 | 1.174442 | 1.174442 | 1.171440 | 1.167898 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 |
| 63 | 1.182511 | 1.182511 | 1.182511 | 1.182511 | 1.182511 | 1.182511 | 1.182511 | 1.178852 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 |
| 64 | 1.194281 | 1.194281 | 1.194281 | 1.194281 | 1.194281 | 1.194281 | 1.194281 | 1.194281 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 |
| 65 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 |
| 66 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 |
| 67 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 |
| 68 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 |
| 69 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 |
| 70 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 |
| 71 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 |
| 72 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 |
| 73 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 |
| 74 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 |
| 75 and over | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 |
Table 1A Accrued benefit multiple valuation factors (ABF) (Rule 16.2.2) — males with first day of membership of the PSS on or before 30 June 1999 (continued)
| Complete years between first day of membership and operative time | |||||||||||||||||
| Age | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 |
| 33 | 0.811170 | ||||||||||||||||
| 34 | 0.822361 | 0.826485 | |||||||||||||||
| 35 | 0.835214 | 0.839110 | 0.842618 | ||||||||||||||
| 36 | 0.849867 | 0.853538 | 0.856842 | 0.859812 | |||||||||||||
| 37 | 0.864629 | 0.868079 | 0.871182 | 0.873969 | 0.876471 | ||||||||||||
| 38 | 0.879139 | 0.882357 | 0.885251 | 0.887849 | 0.890181 | 0.892270 | |||||||||||
| 39 | 0.892852 | 0.895840 | 0.898525 | 0.900934 | 0.903095 | 0.905031 | 0.906765 | ||||||||||
| 40 | 0.904886 | 0.907631 | 0.910097 | 0.912309 | 0.914292 | 0.916068 | 0.917658 | 0.919080 | |||||||||
| 41 | 0.913539 | 0.916026 | 0.918258 | 0.920260 | 0.922054 | 0.923660 | 0.925097 | 0.926382 | 0.927531 | ||||||||
| 42 | 0.920714 | 0.922934 | 0.924925 | 0.926710 | 0.928309 | 0.929740 | 0.931020 | 0.932164 | 0.933186 | 0.934100 | |||||||
| 43 | 0.926224 | 0.928180 | 0.929933 | 0.931504 | 0.932911 | 0.934169 | 0.935295 | 0.936300 | 0.937199 | 0.938001 | 0.938717 | ||||||
| 44 | 0.931591 | 0.933316 | 0.934863 | 0.936248 | 0.937487 | 0.938596 | 0.939587 | 0.940473 | 0.941263 | 0.941969 | 0.942599 | 0.943162 | |||||
| 45 | 0.939115 | 0.940647 | 0.942020 | 0.943248 | 0.944347 | 0.945330 | 0.946209 | 0.946993 | 0.947694 | 0.948319 | 0.948877 | 0.949374 | 0.949818 | ||||
| 46 | 0.950309 | 0.951681 | 0.952910 | 0.954009 | 0.954992 | 0.955870 | 0.956655 | 0.957356 | 0.957981 | 0.958540 | 0.959038 | 0.959482 | 0.959878 | 0.960231 | |||
| 47 | 0.965461 | 0.966693 | 0.967796 | 0.968782 | 0.969664 | 0.970451 | 0.971155 | 0.971783 | 0.972343 | 0.972843 | 0.973289 | 0.973686 | 0.974041 | 0.974357 | 0.974638 | ||
| 48 | 0.985366 | 0.986474 | 0.987464 | 0.988350 | 0.989141 | 0.989847 | 0.990478 | 0.991041 | 0.991543 | 0.991991 | 0.992390 | 0.992746 | 0.993063 | 0.993346 | 0.993598 | 0.993823 | |
| 49 | 1.005824 | 1.006793 | 1.007660 | 1.008434 | 1.009125 | 1.009741 | 1.010292 | 1.010783 | 1.011221 | 1.011611 | 1.011959 | 1.012269 | 1.012546 | 1.012792 | 1.013011 | 1.013207 | 1.013381 |
| 50 | 1.026843 | 1.027659 | 1.028388 | 1.029039 | 1.029619 | 1.030137 | 1.030599 | 1.031011 | 1.031378 | 1.031705 | 1.031997 | 1.032257 | 1.032489 | 1.032695 | 1.032878 | 1.033042 | 1.033188 |
| 51 | 1.044457 | 1.045099 | 1.045672 | 1.046183 | 1.046638 | 1.047045 | 1.047407 | 1.047729 | 1.048017 | 1.048273 | 1.048501 | 1.048704 | 1.048885 | 1.049046 | 1.049190 | 1.049318 | 1.049431 |
| 52 | 1.062400 | 1.062849 | 1.063250 | 1.063607 | 1.063925 | 1.064208 | 1.064460 | 1.064685 | 1.064885 | 1.065063 | 1.065222 | 1.065363 | 1.065489 | 1.065601 | 1.065700 | 1.065789 | 1.065868 |
| 53 | 1.080687 | 1.080922 | 1.081131 | 1.081318 | 1.081483 | 1.081631 | 1.081762 | 1.081879 | 1.081983 | 1.082076 | 1.082158 | 1.082232 | 1.082297 | 1.082355 | 1.082407 | 1.082453 | 1.082494 |
| 54 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 | 1.099417 |
| 55 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 | 1.121013 |
| 56 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 | 1.125569 |
| 57 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 | 1.130893 |
| 58 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 | 1.137200 |
| 59 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 | 1.144360 |
| 60 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 | 1.150310 |
| 61 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 | 1.155503 |
| 62 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 | 1.163652 |
| 63 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 | 1.174535 |
| 64 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 | 1.189875 |
| 65 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 | 1.210078 |
| 66 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 | 1.201267 |
| 67 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 | 1.191802 |
| 68 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 | 1.181657 |
| 69 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 | 1.170903 |
| 70 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 | 1.159535 |
| 71 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 | 1.147545 |
| 72 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 | 1.134929 |
| 73 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 | 1.121665 |
| 74 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 | 1.107734 |
| 75 and over | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 | 1.093156 |
Table 3D Productivity contribution valuation factors (PCF) (Rule 16.2.2) — females with first day of membership of the PSS after 30 June 1999 (continued)
| Complete years between first day of membership and operative time | |||||||||||||||||
| Age | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 or more |
| 50 | 0.959965 | ||||||||||||||||
| 51 | 0.967547 | 0.967856 | |||||||||||||||
| 52 | 0.974831 | 0.975035 | 0.975228 | ||||||||||||||
| 53 | 0.981746 | 0.981845 | 0.981939 | 0.982028 | |||||||||||||
| 54 | 0.988759 | 0.988759 | 0.988759 | 0.988759 | 0.988759 | ||||||||||||
| 55 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | |||||||||||
| 56 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | ||||||||||
| 57 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | |||||||||
| 58 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | ||||||||
| 59 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | |||||||
| 60 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | ||||||
| 61 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | |||||
| 62 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | ||||
| 63 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | |||
| 64 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | ||
| 65 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | |
| 66 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 67 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 68 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 69 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 70 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 71 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 72 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 73 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 74 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
| 75 and over | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 | 1.000000 |
Table 4 Valuation factors — preserved benefit member who has an option to take a pension (Rule 16.2.2)
| Male Member | Female Member | |||
| Age | Funded (FDBF) | Unfunded (UDBF) | Funded (FDBF) | Unfunded (UDBF) |
| 18 | 1.34604 | 0.32856 | 1.36414 | 0.33298 |
| 19 | 1.34521 | 0.33957 | 1.36333 | 0.34414 |
| 20 | 1.34436 | 0.35094 | 1.36252 | 0.35568 |
| 21 | 1.34352 | 0.36270 | 1.36171 | 0.36761 |
| 22 | 1.34267 | 0.37485 | 1.36089 | 0.37993 |
| 23 | 1.34181 | 0.38740 | 1.36007 | 0.39267 |
| 24 | 1.34095 | 0.40037 | 1.35925 | 0.40583 |
| 25 | 1.34009 | 0.41377 | 1.35843 | 0.41944 |
| 26 | 1.33922 | 0.42763 | 1.35760 | 0.43349 |
| 27 | 1.33835 | 0.44194 | 1.35677 | 0.44802 |
| 28 | 1.33748 | 0.45673 | 1.35594 | 0.46304 |
| 29 | 1.33660 | 0.47202 | 1.35510 | 0.47855 |
| 30 | 1.33572 | 0.48782 | 1.35426 | 0.49459 |
| 31 | 1.33484 | 0.50414 | 1.35343 | 0.51116 |
| 32 | 1.33395 | 0.52101 | 1.35258 | 0.52828 |
| 33 | 1.33305 | 0.53843 | 1.35174 | 0.54598 |
| 34 | 1.33215 | 0.55645 | 1.35089 | 0.56427 |
| 35 | 1.33125 | 0.57506 | 1.35004 | 0.58317 |
| 36 | 1.33035 | 0.59429 | 1.34919 | 0.60270 |
| 37 | 1.32944 | 0.61416 | 1.34833 | 0.62289 |
| 38 | 1.32852 | 0.63470 | 1.34747 | 0.64375 |
| 39 | 1.32761 | 0.65591 | 1.34661 | 0.66531 |
| 40 | 1.32668 | 0.67784 | 1.34575 | 0.68758 |
| 41 | 1.32335 | 0.69923 | 1.34301 | 0.70961 |
| 42 | 1.32001 | 0.72127 | 1.34025 | 0.73234 |
| 43 | 1.31665 | 0.74401 | 1.33749 | 0.75578 |
| 44 | 1.31329 | 0.76745 | 1.33472 | 0.77997 |
| 45 | 1.30991 | 0.79161 | 1.33194 | 0.80492 |
| 46 | 1.30652 | 0.81652 | 1.32915 | 0.83066 |
| 47 | 1.30312 | 0.84221 | 1.32635 | 0.85722 |
| 48 | 1.29971 | 0.86868 | 1.32354 | 0.88461 |
| 49 | 1.29628 | 0.89598 | 1.32072 | 0.91287 |
| 50 | 1.29285 | 0.92412 | 1.31789 | 0.94202 |
| 51 | 1.28452 | 0.94951 | 1.31506 | 0.97209 |
| 52 | 1.27616 | 0.97555 | 1.31221 | 1.00311 |
| 53 | 1.26777 | 1.00223 | 1.30936 | 1.03511 |
| 54 | 1.25936 | 1.02957 | 1.30650 | 1.06811 |
| 55 | 1.25092 | 1.05759 | 1.30363 | 1.10216 |
| 56 | 1.24984 | 1.09276 | 1.30268 | 1.13896 |
| 57 | 1.24870 | 1.12905 | 1.30169 | 1.17696 |
| 58 | 1.24752 | 1.16649 | 1.30068 | 1.21620 |
| 59 | 1.24628 | 1.20512 | 1.29962 | 1.25671 |
| 60 | 1.24498 | 1.24498 | 1.29853 | 1.29853 |
| 61 | 1.23921 | 1.23921 | 1.29576 | 1.29576 |
| 62 | 1.23285 | 1.23285 | 1.29246 | 1.29246 |
| 63 | 1.22585 | 1.22585 | 1.28861 | 1.28861 |
| 64 | 1.21827 | 1.21827 | 1.28419 | 1.28419 |
| 65 | 1.21008 | 1.21008 | 1.27919 | 1.27919 |
Table 5 Valuation factors — preserved benefit member without an option to take a pension (Rule 16.2.2)
| Male Member | Female Member | |
| Age | Unfunded (UDBF) | Unfunded (UDBF) |
| 18 | 0.24409 | 0.24409 |
| 19 | 0.25243 | 0.25243 |
| 20 | 0.26105 | 0.26105 |
| 21 | 0.26996 | 0.26996 |
| 22 | 0.27918 | 0.27918 |
| 23 | 0.28871 | 0.28871 |
| 24 | 0.29857 | 0.29857 |
| 25 | 0.30877 | 0.30877 |
| 26 | 0.31931 | 0.31931 |
| 27 | 0.33021 | 0.33021 |
| 28 | 0.34149 | 0.34149 |
| 29 | 0.35315 | 0.35315 |
| 30 | 0.36521 | 0.36521 |
| 31 | 0.37768 | 0.37768 |
| 32 | 0.39057 | 0.39057 |
| 33 | 0.40391 | 0.40391 |
| 34 | 0.41770 | 0.41770 |
| 35 | 0.43197 | 0.43197 |
| 36 | 0.44672 | 0.44672 |
| 37 | 0.46197 | 0.46197 |
| 38 | 0.47774 | 0.47774 |
| 39 | 0.49406 | 0.49406 |
| 40 | 0.51093 | 0.51093 |
| 41 | 0.52837 | 0.52837 |
| 42 | 0.54642 | 0.54642 |
| 43 | 0.56507 | 0.56507 |
| 44 | 0.58437 | 0.58437 |
| 45 | 0.60432 | 0.60432 |
| 46 | 0.62496 | 0.62496 |
| 47 | 0.64630 | 0.64630 |
| 48 | 0.66837 | 0.66837 |
| 49 | 0.69119 | 0.69119 |
| 50 | 0.71479 | 0.71479 |
| 51 | 0.73920 | 0.73920 |
| 52 | 0.76444 | 0.76444 |
| 53 | 0.79054 | 0.79054 |
| 54 | 0.81754 | 0.81754 |
| 55 | 0.84545 | 0.84545 |
| 56 | 0.87432 | 0.87432 |
| 57 | 0.90418 | 0.90418 |
| 58 | 0.93505 | 0.93505 |
| 59 | 0.96698 | 0.96698 |
| 60 | 1.00000 | 1.00000 |
| 61 | 1.00000 | 1.00000 |
| 62 | 1.00000 | 1.00000 |
| 63 | 1.00000 | 1.00000 |
| 64 | 1.00000 | 1.00000 |
| 65 | 1.00000 | 1.00000 |
Table 6 Valuation factors — pensions in payment (Rule 16.2.2)
| Male Member Pension in payment | Female Member Pension in payment | Spouse Pension in payment | Associate Standard Pension or | |||||||||
| Age | Invalidity | Age | Invalidity | Age | Invalidity | |||||||
| Age | 67% reversion | 85% reversion | 67% reversion | 85% reversion | Male | Female | Male | Female | Male | Female | ||
| 18 | 26.8575 | 26.9932 | 26.5236 | 26.9984 | 27.0590 | 26.6625 | 25.7376 | 26.5636 | 26.3640 | 26.7782 | 25.5786 | 26.0484 |
| 19 | 26.7566 | 26.8964 | 26.4137 | 26.9004 | 26.9629 | 26.5530 | 25.6046 | 26.4521 | 26.2482 | 26.6732 | 25.4549 | 25.9315 |
| 20 | 26.6529 | 26.7968 | 26.3014 | 26.7990 | 26.8635 | 26.4400 | 25.4700 | 26.3367 | 26.1296 | 26.5646 | 25.3269 | 25.8098 |
| 21 | 26.5461 | 26.6942 | 26.1854 | 26.6939 | 26.7604 | 26.3230 | 25.3324 | 26.2170 | 26.0078 | 26.4520 | 25.1943 | 25.6834 |
| 22 | 26.4358 | 26.5881 | 26.0654 | 26.5848 | 26.6535 | 26.2014 | 25.1908 | 26.0926 | 25.8820 | 26.3353 | 25.0571 | 25.5522 |
| 23 | 26.3217 | 26.4783 | 25.9412 | 26.4717 | 26.5425 | 26.0748 | 25.0443 | 25.9633 | 25.7520 | 26.2139 | 24.9153 | 25.4164 |
| 24 | 26.2034 | 26.3646 | 25.8127 | 26.3543 | 26.4275 | 25.9435 | 24.8923 | 25.8294 | 25.6173 | 26.0881 | 24.7685 | 25.2757 |
| 25 | 26.0809 | 26.2468 | 25.6796 | 26.2329 | 26.3085 | 25.8072 | 24.7347 | 25.6905 | 25.4777 | 25.9580 | 24.6166 | 25.1302 |
| 26 | 25.9539 | 26.1246 | 25.5418 | 26.1070 | 26.1851 | 25.6661 | 24.5711 | 25.5464 | 25.3329 | 25.8230 | 24.4591 | 24.9800 |
| 27 | 25.8223 | 25.9981 | 25.3991 | 25.9765 | 26.0572 | 25.5199 | 24.4017 | 25.3973 | 25.1831 | 25.6831 | 24.2957 | 24.8249 |
| 28 | 25.6860 | 25.8671 | 25.2513 | 25.8412 | 25.9246 | 25.3688 | 24.2264 | 25.2427 | 25.0278 | 25.5380 | 24.1261 | 24.6647 |
| 29 | 25.5451 | 25.7314 | 25.0979 | 25.7014 | 25.7875 | 25.2126 | 24.0449 | 25.0828 | 24.8673 | 25.3882 | 23.9501 | 24.4995 |
| 30 | 25.3990 | 25.5910 | 24.9388 | 25.5567 | 25.6456 | 25.0512 | 23.8571 | 24.9178 | 24.7010 | 25.2331 | 23.7678 | 24.3290 |
| 31 | 25.2477 | 25.4454 | 24.7738 | 25.4070 | 25.4989 | 24.8844 | 23.6628 | 24.7474 | 24.5288 | 25.0729 | 23.5791 | 24.1529 |
| 32 | 25.0912 | 25.2949 | 24.6027 | 25.2524 | 25.3472 | 24.7122 | 23.4618 | 24.5715 | 24.3507 | 24.9075 | 23.3840 | 23.9709 |
| 33 | 24.9291 | 25.1389 | 24.4256 | 25.0925 | 25.1904 | 24.5344 | 23.2536 | 24.3898 | 24.1663 | 24.7366 | 23.1821 | 23.7830 |
| 34 | 24.7612 | 24.9773 | 24.2420 | 24.9272 | 25.0282 | 24.3506 | 23.0380 | 24.2023 | 23.9752 | 24.5601 | 22.9735 | 23.5890 |
| 35 | 24.5874 | 24.8101 | 24.0523 | 24.7563 | 24.8605 | 24.1605 | 22.8149 | 24.0088 | 23.7776 | 24.3776 | 22.7580 | 23.3887 |
| 36 | 24.4074 | 24.6369 | 23.8558 | 24.5797 | 24.6871 | 23.9642 | 22.5838 | 23.8091 | 23.5729 | 24.1891 | 22.5354 | 23.1821 |
| 37 | 24.2211 | 24.4576 | 23.6528 | 24.3972 | 24.5079 | 23.7615 | 22.3448 | 23.6030 | 23.3611 | 23.9945 | 22.3057 | 22.9692 |
| 38 | 24.0282 | 24.2719 | 23.4429 | 24.2085 | 24.3226 | 23.5520 | 22.0975 | 23.3902 | 23.1420 | 23.7935 | 22.0688 | 22.7499 |
| 39 | 23.8287 | 24.0798 | 23.2259 | 24.0134 | 24.1310 | 23.3358 | 21.8418 | 23.1707 | 22.9154 | 23.5858 | 21.8246 | 22.5242 |
| 40 | 23.6222 | 23.8810 | 23.0019 | 23.8119 | 23.9331 | 23.1127 | 21.5777 | 22.9444 | 22.6810 | 23.3714 | 21.5728 | 22.2921 |
| 41 | 23.3762 | 23.6341 | 22.7280 | 23.5766 | 23.6939 | 22.8458 | 21.3049 | 22.7111 | 22.4386 | 23.1501 | 21.3131 | 22.0529 |
| 42 | 23.1211 | 23.3776 | 22.4442 | 23.3328 | 23.4458 | 22.5696 | 21.0233 | 22.4705 | 22.1883 | 22.9218 | 21.0455 | 21.8063 |
| 43 | 22.8565 | 23.1113 | 22.1502 | 23.0801 | 23.1885 | 22.2841 | 20.7332 | 22.2224 | 21.9297 | 22.6859 | 20.7702 | 21.5523 |
| 44 | 22.5821 | 22.8349 | 21.8455 | 22.8187 | 22.9221 | 21.9887 | 20.4344 | 21.9670 | 21.6628 | 22.4428 | 20.4870 | 21.2909 |
| 45 | 22.2976 | 22.5480 | 21.5301 | 22.5483 | 22.6463 | 21.6831 | 20.1269 | 21.7043 | 21.3871 | 22.1923 | 20.1961 | 21.0219 |
| 46 | 22.0028 | 22.2504 | 21.2038 | 22.2688 | 22.3608 | 21.3671 | 19.8110 | 21.4341 | 21.1027 | 21.9342 | 19.8970 | 20.7458 |
| 47 | 21.6974 | 21.9417 | 20.8664 | 21.9800 | 22.0656 | 21.0409 | 19.4864 | 21.1567 | 20.8092 | 21.6685 | 19.5896 | 20.4628 |
| 48 | 21.3812 | 21.6217 | 20.5177 | 21.6819 | 21.7608 | 20.7042 | 19.1532 | 20.8720 | 20.5067 | 21.3952 | 19.2742 | 20.1727 |
| 49 | 21.0540 | 21.2902 | 20.1575 | 21.3744 | 21.4460 | 20.3574 | 18.8116 | 20.5801 | 20.1950 | 21.1142 | 18.9508 | 19.8756 |
| 50 | 20.7154 | 20.9469 | 19.7855 | 21.0575 | 21.1213 | 20.0005 | 18.4621 | 20.2809 | 19.8739 | 20.8255 | 18.6194 | 19.5713 |
| 51 | 20.2789 | 20.4812 | 19.2903 | 20.7309 | 20.7864 | 19.6336 | 18.1044 | 19.9745 | 19.5432 | 20.5288 | 18.2804 | 19.2605 |
| 52 | 19.8259 | 19.9971 | 18.7777 | 20.3946 | 20.4415 | 19.2566 | 17.7390 | 19.6612 | 19.2031 | 20.2243 | 17.9342 | 18.9430 |
| 53 | 19.3560 | 19.4942 | 18.2476 | 20.0489 | 20.0865 | 18.8696 | 17.3661 | 19.3408 | 18.8532 | 19.9120 | 17.5806 | 18.6191 |
| 54 | 18.8686 | 18.9719 | 17.7004 | 19.6935 | 19.7214 | 18.4731 | 16.9860 | 19.0130 | 18.4930 | 19.5917 | 17.2199 | 18.2887 |
| 55 | 18.3635 | 18.4298 | 17.1365 | 19.3283 | 19.3462 | 18.0671 | 16.5994 | 18.6777 | 18.1225 | 19.2634 | 16.8291 | 17.9811 |
| 56 | 17.9889 | 18.0569 | 16.7447 | 18.9932 | 19.0114 | 17.7044 | 16.2071 | 18.3346 | 17.7415 | 18.9269 | 16.4303 | 17.6169 |
| 57 | 17.6037 | 17.6735 | 16.3453 | 18.6499 | 18.6685 | 17.3344 | 15.8102 | 17.9837 | 17.3499 | 18.5823 | 16.0240 | 17.2453 |
| 58 | 17.2083 | 17.2798 | 15.9385 | 18.2983 | 18.3173 | 16.9568 | 15.4097 | 17.6248 | 16.9480 | 18.2295 | 15.6106 | 16.8663 |
| 59 | 16.8034 | 16.8767 | 15.5264 | 17.9377 | 17.9570 | 16.5714 | 15.0038 | 17.2578 | 16.5367 | 17.8676 | 15.1921 | 16.4796 |
| 60 | 16.3895 | 16.4646 | 15.1097 | 17.5677 | 17.5873 | 16.1780 | 14.5929 | 16.8824 | 16.1165 | 17.4964 | 14.7694 | 16.0848 |
| 61 | 15.9670 | 16.0438 | 14.6892 | 17.1885 | 17.2084 | 15.7767 | 14.1772 | 16.4988 | 15.6878 | 17.1160 | 14.3433 | 15.6822 |
| 62 | 15.5363 | 15.6148 | 14.2657 | 16.8001 | 16.8204 | 15.3677 | 13.7567 | 16.1071 | 15.2511 | 16.7265 | 13.9146 | 15.2721 |
| 63 | 15.0977 | 15.1778 | 13.8400 | 16.4031 | 16.4236 | 14.9514 | 13.3312 | 15.7074 | 14.8066 | 16.3282 | 13.4843 | 14.8546 |
| 64 | 14.6527 | 14.7342 | 13.4127 | 15.9975 | 16.0184 | 14.5284 | 12.9046 | 15.2999 | 14.3560 | 15.9216 | 13.0529 | 14.4307 |
| 65 | 14.2016 | 14.2846 | 12.9843 | 15.5837 | 15.6049 | 14.0992 | 12.4775 | 14.8847 | 13.8997 | 15.5068 | 12.6211 | 14.0005 |
| 66 | 13.7448 | 13.8292 | 12.5558 | 15.1619 | 15.1833 | 13.6640 | 12.0503 | 14.4617 | 13.4381 | 15.0840 | 12.1897 | 13.5646 |
| 67 | 13.2826 | 13.3682 | 12.1275 | 14.7322 | 14.7539 | 13.2234 | 11.6231 | 14.0309 | 12.9714 | 14.6534 | 11.7594 | 13.1232 |
| 68 | 12.8152 | 12.9019 | 11.7002 | 14.2948 | 14.3167 | 12.7776 | 11.1959 | 13.5917 | 12.4999 | 14.2153 | 11.3306 | 12.6769 |
| 69 | 12.3446 | 12.4323 | 11.2727 | 13.8498 | 13.8719 | 12.3255 | 10.7720 | 13.1468 | 12.0258 | 13.7694 | 10.9023 | 12.2244 |
| 70 | 11.8716 | 11.9601 | 10.8454 | 13.3975 | 13.4198 | 11.8680 | 10.3522 | 12.6966 | 11.5498 | 13.3165 | 10.4750 | 11.7665 |
| 71 | 11.3968 | 11.4860 | 10.4185 | 12.9385 | 12.9610 | 11.4054 | 9.9375 | 12.2418 | 11.0725 | 12.8570 | 10.0487 | 11.3037 |
| 72 | 10.9208 | 11.0105 | 9.9920 | 12.4735 | 12.4961 | 10.9385 | 9.5290 | 11.7832 | 10.5947 | 12.3914 | 9.6234 | 10.8367 |
| 73 | 10.4440 | 10.5340 | 9.5657 | 12.0033 | 12.0260 | 10.4681 | 9.1276 | 11.3218 | 10.1167 | 11.9209 | 9.1990 | 10.3663 |
| 74 | 9.9668 | 10.0570 | 9.1401 | 11.5271 | 11.5498 | 9.9978 | 8.7262 | 10.8571 | 9.6391 | 11.4444 | 8.7758 | 9.8962 |
| 75 | 9.4905 | 9.5806 | 8.7160 | 11.0451 | 11.0679 | 9.5295 | 8.3253 | 10.3897 | 9.1628 | 10.9622 | 8.3548 | 9.4283 |
| 76 | 9.0172 | 9.1070 | 8.2949 | 10.5577 | 10.5805 | 9.0650 | 7.9263 | 9.9207 | 8.6904 | 10.4746 | 7.9375 | 8.9644 |
| 77 | 8.5496 | 8.6390 | 7.8791 | 10.0650 | 10.0879 | 8.6069 | 7.5308 | 9.4512 | 8.2246 | 9.9819 | 7.5263 | 8.5071 |
| 78 | 8.0904 | 8.1791 | 7.4705 | 9.5670 | 9.5899 | 8.1576 | 7.1401 | 8.9822 | 7.7680 | 9.4839 | 7.1230 | 8.0588 |
| 79 | 7.6415 | 7.7292 | 7.0727 | 9.0727 | 9.0956 | 7.7178 | 6.7597 | 8.5181 | 7.3227 | 8.9898 | 6.7315 | 7.6202 |
| 80 | 7.2047 | 7.2912 | 6.6874 | 8.5842 | 8.6069 | 7.2888 | 6.3909 | 8.0610 | 6.8904 | 8.5015 | 6.3532 | 7.1927 |
| 81 | 6.7813 | 6.8662 | 6.3159 | 8.1033 | 8.1259 | 6.8712 | 6.0345 | 7.6132 | 6.4723 | 8.0212 | 5.9897 | 6.7767 |
| 82 | 6.3721 | 6.4553 | 5.9596 | 7.6303 | 7.6527 | 6.4643 | 5.6907 | 7.1767 | 6.0694 | 7.5488 | 5.6421 | 6.3715 |
| 83 | 5.9776 | 6.0589 | 5.6195 | 7.1672 | 7.1894 | 6.0686 | 5.3595 | 6.7536 | 5.6819 | 7.0864 | 5.3114 | 5.9775 |
| 84 | 5.6030 | 5.6821 | 5.2980 | 6.7162 | 6.7381 | 5.6878 | 5.0467 | 6.3464 | 5.3152 | 6.6364 | 4.9999 | 5.5987 |
| 85 | 5.2483 | 5.3251 | 4.9952 | 6.2788 | 6.3004 | 5.3237 | 4.7520 | 5.9563 | 4.9690 | 6.2002 | 4.7077 | 5.2366 |
| 86 | 4.9131 | 4.9874 | 4.7111 | 5.8567 | 5.8780 | 4.9785 | 4.4748 | 5.5843 | 4.6429 | 5.7793 | 4.4346 | 4.8936 |
| 87 | 4.5964 | 4.6680 | 4.4454 | 5.4455 | 5.4664 | 4.6550 | 4.2142 | 5.2313 | 4.3357 | 5.3695 | 4.1802 | 4.5724 |
| 88 | 4.2966 | 4.3655 | 4.1980 | 5.0436 | 5.0641 | 4.3567 | 3.9684 | 4.8983 | 4.0458 | 4.9690 | 3.9444 | 4.2766 |
| 89 | 4.0135 | 4.0797 | 3.9591 | 4.6622 | 4.6822 | 4.0802 | 3.7377 | 4.5806 | 3.7729 | 4.5892 | 3.7170 | 4.0027 |
| 90 | 3.7469 | 3.8102 | 3.7265 | 4.3021 | 4.3217 | 3.8255 | 3.5224 | 4.2785 | 3.5166 | 4.2309 | 3.4956 | 3.7506 |
| 91 | 3.4962 | 3.5566 | 3.4962 | 3.9641 | 3.9831 | 3.5911 | 3.3227 | 3.9918 | 3.2763 | 3.8948 | 3.2763 | 3.5190 |
| 92 | 3.2615 | 3.3191 | 3.2615 | 3.6487 | 3.6671 | 3.3740 | 3.1398 | 3.7202 | 3.0522 | 3.5816 | 3.0522 | 3.3048 |
| 93 | 3.0429 | 3.0976 | 3.0429 | 3.3575 | 3.3753 | 3.1685 | 2.9762 | 3.4635 | 2.8443 | 3.2928 | 2.8443 | 3.1024 |
| 94 | 2.8389 | 2.8906 | 2.8389 | 3.0832 | 3.1003 | 2.9700 | 2.8229 | 3.2203 | 2.6509 | 3.0212 | 2.6509 | 2.9070 |
| 95 | 2.6490 | 2.6978 | 2.6490 | 2.8245 | 2.8408 | 2.7719 | 2.6793 | 2.9892 | 2.4715 | 2.7655 | 2.4715 | 2.7125 |
5. The amendment of a heading by this Deed does not change the status of the heading for the purposes of Rule 1.1.4.
IN WITNESS WHEREOF this Deed has been executed the day and year first hereinbefore written.
SIGNED, SEALED AND DELIVERED )
)
by the Honourable NICHOLAS HUGH MINCHIN ) SIGNED
)
Minister for Finance and Administration )
)
for and on behalf of )
)
THE COMMONWEALTH OF )
)
AUSTRALIA, in the presence of: )
)
)
(name) ) Chris Keane
)
)
(address) ) 20 Clifton Street
) PROSPECT SA 5082
)
(description) ) Adviser
)
Note to the Deed:
TABLE LISTING TRUST DEED AND AMENDING DEEDS
Section 45 of the Superannuation Act 1990 provides, in part, that instruments under section 5(1) amending the Trust Deed are disallowable instruments for the purposes of section 46A of the Acts Interpretation Act 1901. The effect of these provisions is that amending instruments are required to be notified in the Gazette and take effect from the date of gazettal unless the instrument provides otherwise.
Date Number Gazette details 21 June 1990 Trust Deed GN 25, 27 June 1990, p 1728 21 June 1990 First GN 25, 27 June 1990, p 1728 1 July 1991 Second S 180, 1 July 1991 30 June 1992 Third S 181, 1 July 1991 21 December 1992 Fourth GN 1, 13 January 1993, p 110 16 June 1993 Fifth S 181, 18 June 1993 24 January 1994 Sixth GN 4, 2 February 1994, p 366 7 March 1994 Seventh S 89, 15 March 1994 28 June 1994 Eighth S 246, 29 June 1994 22 June 1995 Ninth GN 25, 28 June 1995, p 2285 29 January 1996 Tenth S 41, 1 February 1996 10 December 1996 Eleventh GN 50, 18 December 1996 25 March 1998 Twelfth GN 13, 1 April 1998, p 901 5 December 1999 Thirteenth S 590, 6 December 1999 20 August 2001 Fourteenth S 342, 22 August 2001 25 September 2001 Fifteenth GN 39, 3 October 2001, p 2972 26 June 2002 Sixteenth S 225, 27 June 2002 3 April 2003 Seventeenth GN 17, 30 April 2003, p 1398 27 June 2003 Eighteenth S 245, 27 June 2003 26 November 2003 Nineteenth S 446, 1 December 2003 23 March 2004 Twentieth S89, 24 March 2004
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