Family Law (Superannuation) Amendment Regulations 2002 (No. 1)1
Statutory Rules 2002 No. 1762
I, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Family Law Act 1975.
Dated 25 July 2002
PETER HOLLINGWORTH
Governor-General
By His Excellency’s Command
DARYL WILLIAMS
Attorney-General

1	Name of Regulations
		These Regulations are the Family Law (Superannuation) Amendment Regulations 2002 (No. 1).
2	Commencement
		These Regulations commence on the commencement of the Family Law Legislation Amendment (Superannuation) Act 2001.
3	Amendment of Family Law (Superannuation) Regulations 2001
		Schedule 1 amends the Family Law (Superannuation) Regulations 2001.

Schedule 1	Amendments
(regulation 3)
  
[1]	Regulation 3, definition of accumulation fund
omit
[2]	Regulation 3, definition of allocated pension
substitute
allocated pension means a pension paid, within a range of minimum and maximum payments, from an identifiable lump sum, including:
	(a)	a pension provided under rules of a superannuation fund that meet the standards of subregulation 1.06 (4) of the SIS Regulations; and
	(b)	a pension provided under terms and conditions of an RSA that meet the standards of subregulation 1.07 (2) of the RSA Regulations.
[3]	Regulation 3, definition of defined benefit fund
omit
[4]	Regulation 3, after definition of member’s retirement age, including the note
insert
net earnings, in relation to a superannuation interest in a regulated superannuation fund, approved deposit fund or RSA to which the financial product disclosure provisions of the Corporations Regulations 2001 (being the provisions in Part 7.9 of those Regulations) apply, has the meaning given by regulation 7.9.01 of those Regulations.
[5]	Regulation 3, definition of percentage-only interest
substitute
percentage-only interest has the meaning given by regulation 9A.
[6]	Regulation 3, definition of relevant date, subparagraph (a) (ii)
substitute
	(ii)	if no date is agreed on by the parties to the agreement and the agreement is dated — the date shown on the agreement; or
	(iii)	if no date is agreed on by the parties to the agreement and the agreement is not dated — the date when a copy of the agreement is served on the trustee of the relevant eligible superannuation plan; and
[7]	Regulation 3, after definition of trustee
insert
unflaggable interest has the meaning given by regulation 10A.
unsplittable interest has the meaning given by regulation 11.
[8]	Regulation 3, definition of unit trust
omit
[9]	After paragraph 5 (1) (a)
insert
	(ab)	the amount of salary, or allowance in the nature of salary, payable to another person (for example, a judicial officer, a member of the Commonwealth or a State Parliament, a member of the Legislative Assembly of a Territory);
[10]	Subregulation 7 (1)
substitute
	(1)	This regulation applies to a superannuation interest of a member spouse in a superannuation fund that is not a regulated superannuation fund.
[11]	Subregulation 7 (3)
substitute
	(3)	For this regulation, a releasing event is taken to have occurred in relation to a member spouse if:
	(a)	the member spouse has retired; or
	(b)	the member spouse has died; or
	(c)	as a result of the member spouse’s ill health (whether physical or mental), the member spouse:
	(i)	has ceased to be gainfully employed (including if the member spouse has ceased temporarily to receive any gain or reward under a continuing arrangement for the member spouse to be gainfully employed); and
	(ii)	is unlikely, because of the ill health, ever again to engage in gainful employment for which the member spouse is reasonably qualified by education, training or experience; or
	(d)	the member spouse has turned 65; or
	(e)	in the case of a member spouse whose employer has contributed to the member spouse’s eligible superannuation plan in relation to the member spouse — the member spouse has ceased his or her employment with the employer.
[12]	Subregulation 7 (4)
omit
In paragraph (3) (b):
insert
In paragraph (3) (e):
[13]	After regulation 9
insert
9A	Meaning of percentage-only interest (Act s 90MD)
		For the definition of percentage-only interest in section 90MD of the Act, a superannuation interest in the Judges’ Pensions Act Scheme is prescribed.
[14]	After regulation 10
insert
10A	Meaning of unflaggable interest (Act s 90MD)
		For the definition of unflaggable interest in section 90MD of the Act, a superannuation interest of a member spouse that is in the payment phase is prescribed.
[15]	Regulation 11
omit
For the definition
insert
	(1)	Subject to subregulation (2), for the definition
[16]	Regulation 11
insert
	(2)	This regulation does not apply to any of the following superannuation interests:
	(a)	a superannuation interest in the Judges’ Pensions Act Scheme;
	(b)	a superannuation interest in the scheme provided under the Judges’ Pensions Act 1971 of South Australia.
[17]	Part 2, after the heading
insert
Division 2.1	General
[18]	Paragraph 12 (1) (c)
substitute
	(c)	a pension payment to the member spouse that is made as a result of the member spouse’s ill health (whether physical or mental, but not including ill health that would constitute a permanent incapacity within the meaning given by subregulation 6.01 (2) of the SIS Regulations), unless the payment:
	(i)	is one of a series of payments of that kind that have been made to the member spouse for a period of at least 2 years; and
	(ii)	is made more than 2 years after the first payment of that kind was made to the member spouse;
[19]	Paragraph 12 (1) (d)
substitute
	(d)	if the superannuation interest is in a superannuation fund that is not a regulated superannuation fund — a payment to the member spouse that is made on compassionate grounds as provided by the governing rules of the plan;
[20]	Subregulation 12 (2), definitions of gainfully employed and member’s retirement age
omit
[21]	Subparagraphs 13 (1) (b) (i) and (ii)
substitute
	(i)	immediately before the death of the member spouse, the child was dependent on the member spouse; and
	(ii)	at the date of the payment, the child has turned 18; and
	(iii)	the payment is made to enable the child to complete his or her education or, if the child has special needs because of a physical or intellectual disability, to provide maintenance and meet expenses in respect of those needs;
[22]	Regulation 14
substitute
Division 2.2	Particular circumstances in which payments are not splittable payments
Subdivision 2.2.1	General
14	Circumstances in which payments are not splittable payments
		A payment in respect of a superannuation interest of a member spouse, being a superannuation interest to which a particular superannuation agreement, flag lifting agreement or splitting order applies, is not a splittable payment for the purposes of applying Part VIIIB of the Act to that agreement or order, if the payment is made after the requirements of this Division have been satisfied in relation to the non-member spouse’s entitlement under the agreement or order in respect of the superannuation interest.
14A	Meaning of certain expressions for Division 2.2
		For this Division:
	(a)	relevant condition of release, in relation to a superannuation interest, means:
	(i)	if the superannuation interest is in a regulated superannuation fund — a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 1 to the SIS Regulations; and
	(ii)	if the superannuation interest is in an approved deposit fund — a condition of release mentioned in item 201, 202, 203 or 206 of Schedule 1 to the SIS Regulations; and
	(iii)	if the superannuation interest is in an RSA — a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 2 to the RSA Regulations; and
	(b)	a non-member spouse satisfies a relevant condition of release if the event specified in the condition has occurred in relation to the non‑member spouse; and
	(c)	in the application of item 101, 103, 201 or 203 of Schedule 1 to the SIS Regulations to a non-member spouse, a reference in:
	(i)	the definition of permanent incapacity in subregulation 6.01 (2) of the SIS Regulations; and
	(ii)	subregulation 6.01 (7) of the SIS Regulations;
		to a member is taken to be a reference to the non-member spouse; and
	(d)	in the application of item 101 or 103 of Schedule 2 to the RSA Regulations to a non-member spouse, a reference in:
	(i)	the definition of permanent incapacity in subregulation 4.01 (2) of the RSA Regulations; and
	(ii)	subregulation 4.01 (4) of the RSA Regulations;
		to an RSA holder is taken to be a reference to the non‑member spouse.
Subdivision 2.2.2	Superannuation interest that is not a percentage-only interest
Note   Regulation numbers 14B to 14D have been reserved for future use.
14E	Application of Subdivision 2.2.2
		This Subdivision applies in relation to a superannuation interest that is not a percentage-only interest.
14F	New interest created or amount transferred or rolled over or paid, under SIS Regulations or RSA Regulations, in satisfaction of non-member spouse’s entitlement
	(1)	The requirements of this Division are satisfied in relation to a non-member spouse’s entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (2) or (3) are satisfied.
	(2)	The requirements of this subregulation are satisfied if the trustee of the relevant eligible superannuation plan has, under the payment split provisions of the SIS Regulations, done any of the following things:
	(a)	created a new interest in the plan for the non‑member spouse;
	(b)	transferred or rolled over an amount equal to the value of the benefit that the non-member spouse would be required to have if a new interest had been created for the non‑member spouse under the payment split provisions of the SIS Regulations;
	(c)	paid to the non-member spouse the amount to which he or she is entitled in respect of the superannuation interest at the time of the payment.
	(3)	The requirements of this subregulation are satisfied if the trustee of the relevant eligible superannuation plan has, under the payment split provisions of the RSA Regulations, done any of the following things:
	(a)	opened a new RSA for the non‑member spouse;
	(b)	transferred or rolled over an amount equal to the value that the non-member spouse would be required to have if a new RSA had been opened for the non‑member spouse under the payment split provisions of the RSA Regulations;
	(c)	paid to the non-member spouse an amount that is at least the amount to which the non-member spouse is entitled in respect of the superannuation interest at the time of the payment.
	(4)	In this regulation:
payment split provisions of the RSA Regulations means the provisions of the RSA Regulations dealing with superannuation interests that are subject to a payment split.
payment split provisions of the SIS Regulations means the provisions of the SIS Regulations dealing with superannuation interests that are subject to a payment split.
14G	New interest created or amount transferred or rolled over or paid by trustee (other than under regulation 14F) in satisfaction of non-member spouse’s entitlement under agreement or order
	(1)	This regulation applies to a superannuation interest (including an interest in respect of which benefits are payable as an allocated pension) in:
	(a)	a superannuation fund; or
	(b)	an approved deposit fund; or
	(c)	an RSA.
	(2)	The requirements of this Division are satisfied in relation to a non-member spouse’s entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4), (5) or (6) are satisfied.
	(3)	Subject to subregulation (7), the requirements of this subregulation are satisfied if:
	(a)	the interest is not a defined benefit interest in a self managed superannuation fund; and
	(b)	the trustee of the relevant eligible superannuation plan has, in respect of the non-member spouse’s entitlement under the agreement or order and under the governing rules of the plan, done either of the following things:
	(i)	created a new interest in the plan for the non‑member spouse with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the new interest is created; 
	(ii)	transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non-member spouse, with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over.
	(4)	Subject to subregulation (7), the requirements of this subregulation are satisfied if:
	(a)	the interest is a defined benefit interest in a self managed superannuation fund; and
	(b)	the trustee of the plan has, in respect of the non-member spouse’s entitlement under the agreement or order and under the governing rules of the plan, transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non-member spouse, with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over.
	(5)	Subject to subregulation (7), the requirements of this subregulation are satisfied if:
	(a)	the interest is in a regulated superannuation fund, an approved deposit fund or an RSA; and
	(b)	the non‑member spouse has satisfied a condition of release in relation to the interest; and
	(c)	the trustee of the plan has, in respect of the non-member spouse’s entitlement under the agreement or order, paid to the non-member spouse an amount equal to the value of the non-member spouse’s entitlement in respect of the superannuation interest at the time of the payment.
	(6)	Subject to subregulation (7), the requirements of this subregulation are satisfied if:
	(a)	the interest is in a superannuation fund that is not a regulated superannuation fund; and
	(b)	the trustee of the plan has, in respect of the non-member spouse’s entitlement under the agreement or order, paid to the non-member spouse an amount equal to the value of the non-member spouse’s entitlement in respect of the superannuation interest at the time of the payment.
	(7)	Subregulations (3), (4), (5) and (6) do not apply if:
	(a)	the superannuation interest is a defined benefit interest; and
	(b)	the governing rules of the plan provide for the reduction of the benefit payable to any other member of the plan (other than the member spouse) as a result of the creation of the new interest for the non-member spouse, transfer or rollover of an amount to be held for the benefit of the non‑member spouse, or payment of the amount to the non‑member spouse.
	(8)	For this regulation, the value at a particular time of the non‑member spouse’s entitlement in respect of the superannuation interest is:
	(a)	the base amount allocated to the non-member spouse, or the adjusted base amount applicable to the non-member spouse at that time, less the amount of any fees payable by the non-member spouse under regulation 59; or
	(b)	if, under subparagraph 90MJ (1) (c) (iii) or paragraph 90MT (1) (b) of the Act, a specified percentage is to apply to all splittable payments in respect of the interest — the value of the interest at that time, determined in accordance with Part 5, multiplied by the specified percentage, less the amount of any fees payable by the non-member spouse under regulation 59.
14H	Amount paid by member spouse in satisfaction of non-member spouse’s entitlement under agreement or order
	(1)	The requirements of this Division are satisfied in relation to a non-member spouse’s entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (2) or (3) are satisfied.
	(2)	The requirements of this subregulation are satisfied if:
	(a)	the interest is in a regulated superannuation fund, an approved deposit fund or an RSA; and
	(b)	either of the following has happened:
	(i)	the non-member spouse has satisfied a relevant condition of release in relation to the interest, and the member spouse has paid to the non‑member spouse an amount in satisfaction of the non-member spouse’s entitlement in respect of the superannuation interest;
	(ii)	the non-member spouse has not satisfied a relevant condition of release in relation to the interest, and the member spouse has paid to another regulated superannuation fund or an RSA, an amount, to be held for the benefit of the non‑member spouse, in satisfaction of the non‑member spouse’s entitlement in respect of the superannuation interest; and
	(c)	the interest was in the growth phase at the time of the payment; and
	(d)	after the payment mentioned in paragraph (b), a notice in accordance with Form 1 in Schedule 1, signed by the non‑member spouse in respect of the superannuation interest, has been served on the trustee of the plan.
	(3)	The requirements of this subregulation are satisfied if:
	(a)	the interest is in a superannuation fund that is not a regulated superannuation fund; and
	(b)	the member spouse has paid to the non-member spouse an amount in satisfaction of the non-member spouse’s entitlement in respect of the superannuation interest; and
	(c)	the interest was in the growth phase at the time of the payment; and
	(d)	after the payment, a notice in accordance with Form 1 in Schedule 1, signed by the non‑member spouse in respect of the superannuation interest, has been served on the trustee of the plan.
Subdivision 2.2.3	Superannuation interest that is a percentage-only interest
Note   Regulation numbers 14I to 14L have been reserved for future use.
14M	Application of Subdivision 2.2.3
		This Subdivision applies in relation to a superannuation interest that is a percentage-only interest.
14N	New interest created or amount transferred or rolled over or paid by trustee in satisfaction of non-member spouse’s entitlement under agreement or order
	(1)	This regulation applies to a superannuation interest in:
	(a)	a superannuation fund; or
	(b)	an approved deposit fund; or
	(c)	an RSA.
	(2)	The requirements of this Division are satisfied in relation to a non-member spouse’s entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4) or (5) are satisfied.
	(3)	Subject to subregulation (6), the requirements of this subregulation are satisfied if:
	(a)	the trustee of the relevant eligible superannuation plan has, in respect of the non-member spouse’s entitlement under the agreement or order and under the governing rules of the plan, done either of the following things:
	(i)	created a new interest in the plan for the non‑member spouse with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the new interest is created;
	(ii)	transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non-member spouse, with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over; and
	(b)	the interest was in the payment phase at the time the thing was done.
	(4)	Subject to subregulation (6), the requirements of this subregulation are satisfied if:
	(a)	the interest is in a regulated superannuation fund, an approved deposit fund or an RSA; and
	(b)	the non‑member spouse has satisfied a condition of release in relation to the interest; and
	(c)	the trustee of the plan has, in respect of the non-member spouse’s entitlement under the agreement or order, paid to the non‑member spouse an amount with a value of at least the non-member spouse’s entitlement in respect of the superannuation interest at the time of the payment; and
	(d)	the interest was in the payment phase at the time of the payment.
	(5)	Subject to subregulation (6), the requirements of this subregulation are satisfied if:
	(a)	the interest is in a superannuation fund that is not a regulated superannuation fund; and
	(b)	the trustee of the plan has, in respect of the non-member spouse’s entitlement under the agreement or order, paid to the non‑member spouse an amount with a value of at least the non-member spouse’s entitlement in respect of the superannuation interest at the time of the payment; and
	(c)	the interest was in the payment phase at the time of the payment.
	(6)	Subregulations (3), (4) and (5) do not apply if:
	(a)	the superannuation interest is a defined benefit interest; and
	(b)	the governing rules of the plan provide for the reduction of the benefit payable to any other member of the plan (other than the member spouse) as a result of the creation of the new interest for the non-member spouse, transfer or rollover of an amount to be held for the benefit of the non‑member spouse, or payment of the amount to the non‑member spouse.
	(7)	For this regulation, the value at a particular time of the non‑member spouse’s entitlement in respect of the superannuation interest is the value at that time calculated in accordance with Schedule 1A.
[23]	Paragraph 29 (a)
before
value
insert
gross
[24]	Subregulation 31 (2)
substitute
	(2)	If a statement issued by the trustee of the plan in which the interest is held (being a member information statement or similar statement) that states the value of the interest at the relevant date is before the court in evidence in the relevant proceeding, the gross value of the interest at the relevant date is the value of the interest stated in the statement.
[25]	Subregulation 31 (3), definition of V2, paragraph (b)
omit
between the relevant date and the second valuation date (excluding both those dates),
insert
beginning on the day after the relevant date and ending at the end of the second valuation date,
[26]	Subregulation 31 (3), definition of D
substitute
D is the number of days in the period beginning on the day after the first valuation date and ending at the end of the second valuation date.
[27]	Subregulation 31 (4)
substitute
	(4)	For the purpose of determining the gross value of a member spouse’s interest at the relevant date under subregulation (3):
	(a)	if, in relation to the interest, one member information statement only is before the court in evidence in the relevant proceeding, and the relevant date is after the valuation date stated in that statement:
	(i)	the first valuation date is the valuation date stated in that statement; and
	(ii)	the value of the interest at the first valuation date is the value of the interest stated in that statement; and
	(iii)	the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and
	(iv)	the value of the interest at the second valuation date is the value of the interest at that date; and
	(b)	if, in relation to the interest, 2 member information statements are before the court in evidence in the relevant proceeding, and the relevant date is between the valuation date stated in one of those statements (the first statement) and the valuation date stated in the other statement (the second statement):
	(i)	the first valuation date is the valuation date stated in the first statement; and
	(ii)	the value of the interest at the first valuation date is the value of the interest stated in the first statement; and
	(iii)	the second valuation date is the valuation date stated in the second statement; and
	(iv)	the value of the interest at the second valuation date is the value of the interest stated in the second statement; and
	(c)	if, in relation to the interest, one member information statement only is before the court in evidence in the relevant proceeding, and the relevant date is before the valuation date stated in that statement:
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the value of the interest at the first valuation date is the value of the interest at that date; and
	(iii)	the second valuation date is the valuation date stated in the statement; and
	(iv)	the value of the interest at the second valuation date is the value of the interest stated in the statement; and
	(d)	in any other case:
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the value of the interest at the first valuation date is the value of the interest at that date; and
	(iii)	the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and
	(iv)	the value of the interest at the second valuation date is the value of the interest at that date.
	(4A)	For subparagraphs (4) (a) (iv) and (d) (iv), the value of the interest at the second valuation date includes:
	(a)	any amount payable under an earlier payment split that applies in respect of the interest; and
	(b)	the amount of any surcharge debt of the member spouse in respect of the interest.
[28]	Paragraph 32 (a)
before
value
insert
gross
[29]	Subregulation 38 (3), note
before each mention of
value
insert
gross
[30]	Subregulation 42 (2)
substitute
	(2)	If the pension is payable for the life of the member spouse, the gross value of the superannuation interest at the relevant date is to be determined using:
	(a)	if, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of the interest — the approved method or factors; or
	(b)	in any other case — the method of valuation set out in Schedule 4.
[31]	After regulation 43
insert in Part 5
43A	Approval of methods and factors for valuing superannuation interest being paid as a life pension
	(1)	The Minister may approve, in writing, for the purposes of this regulation, methods or factors that are to be used to determine the gross value of a superannuation interest the benefits in respect of which are being paid as a pension that is payable for the life of the member spouse.
	(2)	An approval by the Minister under subregulation (1) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.
Note   If the Minister approves a method or factors to be used to determine the gross value of a superannuation interest, the approved method or factors are to be used to determine the gross value of the interest instead of the method of valuation set out in Schedule 4 to these Regulations — see subregulation 42 (2).
[32]	Regulation 44, heading
substitute
44	Definition for Part 6
[33]	Regulation 44, definitions of accrual period, gainful employment and relevant condition of release
omit
[34]	Regulation 46
omit
For section
insert
	(1)	For section
[35]	Regulation 46
after the note, insert
	(2)	If the payment split is a second or later payment split applicable to the splittable payment, this Division applies as modified in accordance with Schedule 7.
Note   Section 90MX of the Act makes provision in relation to the order in which multiple payment splits that apply to the same splittable payment are to be calculated.
[36]	Subregulations 47 (2) and (3)
substitute
	(2)	After each adjustment period in relation to the superannuation interest, the trustee must, if necessary, adjust the base amount in accordance with the rate of interest that applied to the superannuation interest in that adjustment period under regulation 48.
Note   Depending on the rate of interest that applied to the superannuation interest in an adjustment period, the base amount may be adjusted by a positive amount or a negative amount or, if the rate was nil, not adjusted.
	(3)	For this regulation and regulation 48, an adjustment period, for a superannuation interest, is:
	(a)	if a splittable payment becomes payable in respect of the interest before the end of the first year after the relevant operative time in that year — the period beginning at the beginning of the relevant operative time and ending at the end of the day before the splittable payment becomes payable; or
	(b)	if a splittable payment does not become payable in respect of the interest before the end of the first year after the relevant operative time in that year:
	(i)	the period beginning at the beginning of the relevant operative time in that year and ending at the end of that year; and
	(ii)	after that period:
	(A)	each year (if any) in which a splittable payment does not become payable in respect of the interest; and
	(B)	in the year in which a splittable payment becomes payable in respect of the interest — the period beginning at the beginning of that year and ending at the end of the day before the splittable payment becomes payable. 
	(4)	In subregulation (3):
year means:
	(a)	for a superannuation interest in a regulated superannuation fund that has a year of income within the meaning of subsection 10 (1) of the SIS Act — a year of income; and
	(b)	for any other superannuation interest — a financial year.
[37]	Regulation 48
substitute
48	Interest rates for adjustment of base amount
	(1)	The rate of interest that applies to a superannuation interest in an adjustment period is the interest rate that applies to the interest for the adjustment period under this regulation.
	(2)	Subject to subregulation (5), if the whole of the superannuation interest is an accumulation interest (other than an interest in a self managed superannuation fund), the interest rate for the adjustment period is:
	(a)	for an interest in a regulated superannuation fund, an approved deposit fund or an RSA:
	(i)	the rate of any allotment (being the allotment of a positive amount, a nil amount or a negative amount) to the member spouse of net earnings of the eligible superannuation plan for the adjustment period; or
	(ii)	if there has been no such allotment to the member spouse for the adjustment period, the rate mentioned in subregulation (3) for the adjustment period; and
	(b)	if the interest is in an exempt public sector superannuation scheme or a superannuation fund that is not a regulated superannuation fund:
	(i)	the rate of any allocation (being the allocation of a positive amount, a nil amount or a negative amount) to the member spouse of investment earnings (however described) of the eligible superannuation plan for the adjustment period; or
	(ii)	if there has been no such allocation to the member spouse for the adjustment period, the rate mentioned in subregulation (3) for the adjustment period.
	(3)	Despite subregulations (4) and (5) and subject to subregulation (6), if the superannuation interest is in a self managed superannuation fund, the interest rate for the adjustment period is the percentage change, rounded up or down to 1 decimal place (rounding up if the second decimal place has a value of 5 or more), in the original estimate of full-time adult ordinary time earnings for all persons in Australia, published by the Australian Bureau of Statistics in the document entitled ‘Average Weekly Earnings, Australia (Catalogue 6302.0)’, that applies for that adjustment period, plus 2.5 percentage points.
	(4)	Subject to subregulation (5), if any component of the superannuation interest is a defined benefit interest, the interest rate for the adjustment period is:
	(a)	subject to subregulation (6) and if paragraph (b) does not apply — the rate mentioned in subregulation (3); or
	(b)	if, for the adjustment period, the amount of the total benefits payable in respect of the defined benefit interest is calculated by applying a growth factor to a specified amount — that growth factor.
Example for paragraph (4) (b)
The interest rate mentioned in paragraph (4) (b) would apply for an adjustment period to a defined benefit interest of a member spouse in respect of which the benefit is defined by reference to the member spouse’s final salary and length of service if, in the adjustment period, the interest is converted to a withdrawal or resignation benefit and subsequently adjusted annually by the interest earned by the plan in which the interest is held, or another factor such as the consumer price index or average weekly ordinary time earnings.
	(5)	If different interest rates apply to different components of the superannuation interest (including an accumulation interest) in the adjustment period, the interest rate for the adjustment period is the weighted average crediting rate (which may be a positive rate, a rate of nil, or a negative rate) that applies to the superannuation interest in the adjustment period, expressed as a percentage, being the total amount of interest that applied in respect of all components of the superannuation interest in the adjustment period divided by the total value of the benefits in respect of all components of the superannuation interest at the beginning of the adjustment period.
Example
A member of an eligible superannuation plan has a superannuation interest the value of which, at the beginning of an adjustment period, is $60 000 (made up of personal contributions and interest valued at $20 000 and employer-financed benefits on resignation valued at $40 000). If the amount of the personal contributions and interest earned interest at the rate of 10% in an adjustment period, and the amount of the employer-financed benefits earned interest at the rate of 3% (the rate of the CPI) in the adjustment period, the weighted average crediting rate that would apply to the superannuation interest for the adjustment period would be 5.33% calculated as follows:
	The value of the interest that applied to the personal contributions and interest in the adjustment period was $2 000 (ie, $20 000  10%).
	The value of the interest that applied to the employer-financed benefits in the adjustment period was $1 200 (ie, $40 000  3%).
	The total interest earned in the adjustment period was therefore $3 200 (ie, $2 000  $1 200).
	The weighted average crediting rate that applies to the superannuation interest for the adjustment period is the total interest for the adjustment period ($3 200) divided by the total benefits at the beginning of the adjustment period ($60 000), expressed as a percentage — 5.33%.
	(6)	For subregulation (3) and paragraph (4) (a):
	(a)	if an adjustment period is exactly 12 months, the publication by the Australian Bureau of Statistics (ABS) of an estimate of full-time adult ordinary time earnings for the 12 month period ending most recently before the end of the adjustment period is taken to be the interest rate for the adjustment period; and
	(b)	if an adjustment period is more than 9 months but less than 12 months, the publication by the ABS of an estimate of full-time adult ordinary time earnings for the 9 month period ending most recently before the end of the adjustment period is taken to be the interest rate for the adjustment period; and
	(c)	if an adjustment period is more than 6 months but less than 9 months, the publication by the ABS of an estimate of full-time adult ordinary time earnings for the 6 month period ending most recently before the end of the adjustment period is taken to be the interest rate for the adjustment period; and
	(d)	if an adjustment period is more than 3 months but less than 6 months, the publication by the ABS of an estimate of full-time adult ordinary time earnings for the 3 month period ending most recently before the end of the adjustment period is taken to be the interest rate for the adjustment period; and
	(e)	if an adjustment period is less than 3 months, the publication by the ABS of an estimate of full-time adult ordinary time earnings for the 3 month period ending most recently before the end of the preceding adjustment period is taken to be the interest rate for the adjustment period.
[38]	Subregulation 49 (1)
substitute
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	the splittable payment that the member spouse or other person is entitled to receive is a lump sum (other than a lump sum that the member spouse or other person may be entitled to receive because the member spouse or other person may choose, by way of a commutation of a pension payable to him or her, or otherwise, to take the whole, or a part, of the benefits in respect of the interest, as a lump sum); and
	(b)	the lump sum is equal to or more than the amount of the adjusted base amount applicable to the non‑member spouse at the time the splittable payment becomes payable.
[39]	Subregulation 50 (1)
substitute
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	the splittable payment that the member spouse or other person is entitled to receive is a lump sum (other than a lump sum that the member spouse or other person may be entitled to receive because the member spouse or other person may choose, by way of a commutation of a pension payable to him or her, or otherwise, to take the whole, or a part, of the benefits in respect of the interest, as a lump sum); and
	(b)	the lump sum is less than the amount of the adjusted base amount applicable to the non‑member spouse at the time the splittable payment becomes payable.
[40]	Subregulation 51 (1)
omit
This subregulation
insert
This regulation
[41]	Paragraph 51 (1) (b)
omit
the member spouse
insert
the member spouse or other person
[42]	Paragraph 51 (1) (d)
omit each mention of
the member spouse
insert
the member spouse or other person
[43]	Paragraph 51 (2) (a)
omit
the member spouse
insert
the member spouse or other person
[44]	Subregulation 51 (3), definitions of Comm and Py+m
substitute
Comm is the commutation factor for converting to a lump sum, under the governing rules of the plan, a pension payable to the member spouse or other person, if the pension were to be converted to a lump sum at:
	(a)	if the relevant splittable payment in respect of the superannuation interest is payable to the member spouse — the date of the first splittable payment to the member spouse in respect of the superannuation after the operative time; or
	(b)	if the relevant splittable payment in respect of the superannuation interest is payable to another person for the benefit of the member spouse — the earliest date when the pension could be commuted to a lump sum; or
	(c)	if the relevant splittable payment in respect of the superannuation interest is payable to a reversionary beneficiary after the death of the member spouse — the date of the member spouse’s death; or
	(d)	if the relevant splittable payment in respect of the superannuation interest is payable to the legal personal representative of the member spouse after the death of the member spouse, or the legal personal representative of a reversionary beneficiary covered by paragraph 90ME (1) (d) of the Act after the death of that reversionary beneficiary — the earliest date at which the legal personal representative could choose to take the remaining benefits in respect of the interest as a lump sum.
Py+m is the pension valuation factor that applies to the particular pension payable to the member spouse or other person at the date that applies under the definition of the factor Comm in this subregulation, being:
	(a)	if, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest the benefits in respect of which are being paid as a pension that is payable for the life of the member spouse — the approved factor or the factor that applies under the approved method; or
	(b)	in any other case — the pension valuation factor under Schedule 4 or 5.
[45]	Paragraph 51 (4) (a)
omit
the member spouse
insert
the member spouse or other person
[46]	Paragraph 51 (4) (a)
omit
subregulation (5);
insert
subregulation (5) (the minimum lump sum);
[47]	Subparagraph 51 (4) (b) (ii)
substitute
	(ii)	the amount, calculated in accordance with subregulation (6), from:
	(A)	if the member spouse or other person chooses to be paid, as a lump sum, an amount that is more than the minimum lump sum — the amount that is the difference between the actual lump sum paid and the minimum lump sum; and
	(B)	each other splittable payment that becomes payable in respect of the superannuation interest.
[48]	Subregulation 51 (5)
omit the first mention of
the amount of the lump sum
insert
the amount of the minimum lump sum
[49]	Subregulation 51 (5), definitions of Comm and Py+m
substitute
Comm has the same meaning as in subregulation (3).
Py+m has the same meaning as in subregulation (3).
[50]	Subregulation 51 (6)
omit everything before the formula, insert
	(6)	For subparagraph (4) (b) (ii), the amount is calculated in accordance with the following formula:
[51]	Subregulation 51 (6), definition of SP
substitute
SP is:
	(a)	if applicable, the amount of the difference between the actual lump sum paid to the member spouse and the minimum lump sum; or
	(b)	the amount of the relevant splittable payment.
[52]	Subregulation 51 (7), definitions of Py+m and Comm
substitute
Py+m has the same meaning as in subregulation (3).
Comm has the same meaning as in subregulation (3).
[53]	Subregulation 52 (1)
substitute
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	benefits in respect of the interest are not payable as an allocated pension; and
	(b)	the member spouse or other person may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take a lump sum that is at least the amount of the adjusted base amount applicable to the non‑member spouse at that time without losing the right to take the remaining part of the benefits in respect of the interest as a pension; and
	(c)	the non-member spouse has served a request, in accordance with Form 3 in Schedule 1, on the trustee of the plan requesting that the non-member spouse be paid, as a lump sum, the whole of the adjusted base amount applicable to the non-member spouse at the time the splittable payment becomes payable.
[54]	Subregulation 52 (2), definitions of Comm and Py+m
substitute
Comm has the same meaning as in subregulation 51 (3).
Py+m has the same meaning as in subregulation 51 (3).
[55]	Subregulation 53 (1)
substitute
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	benefits in respect of the interest are not payable as an allocated pension; and
	(b)	the member spouse or other person may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take a lump sum that is at least the amount of the adjusted base amount applicable to the non‑member spouse at that time without losing the right to take the remaining part of the benefits in respect of the interest as a pension; and
	(c)	the non-member spouse has served a request, in accordance with Form 3 in Schedule 1, on the trustee of the plan requesting that the non-member spouse be paid, as a lump sum, a proportion of the adjusted base amount applicable to the non‑member spouse at that time.
[56]	Subregulation 53 (2)
omit
formula:
insert
formula (the minimum lump sum):
[57]	Subregulation 53 (2), definitions of Comm and Py+m
substitute
Comm has the same meaning as in subregulation 51 (3).
Py+m has the same meaning as in subregulation 51 (3).
[58]	Paragraphs 53 (3) (a) and (b)
substitute
	(a)	the amount of the minimum lump sum; and
	(b)	the amount, calculated in accordance with subregulation (4), from:
	(i)	if the member spouse chooses to be paid, as a lump sum, an amount that is more than the minimum lump sum — the amount that is the difference between the actual lump sum paid and the minimum lump sum; and
	(ii)	each other splittable payment that becomes payable in respect of the superannuation interest.
[59]	Subregulation 53 (4)
omit everything before the formula, insert
	(4)	For paragraph (3) (b), the amount is calculated in accordance with the following formula:
[60]	Subregulation 53 (4), definition of SP
substitute
SP is:
	(a)	if applicable, the amount of the difference between the actual lump sum paid to the member spouse and the minimum lump sum; or
	(b)	the amount of the relevant splittable payment.
[61]	Subregulation 53 (4), definitions of Py+m and Comm
substitute
Py+m has the same meaning as in subregulation 51 (3).
Comm has the same meaning as in subregulation 51 (3).
[62]	Subregulation 54 (1)
substitute
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	benefits in respect of the interest are not payable as an allocated pension; and
	(b)	no benefit is payable to the member spouse or other person as a lump sum (including a lump sum that the member spouse or other person may choose to take, by way of a commutation of a pension payable to him or her, or otherwise, in respect of the whole, or a part, of the benefits in respect of the interest).
[63]	After regulation 54
insert in Division 6.2
54A	Amount to be paid to non-member spouse — benefits payable as allocated pension
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	the whole, or a part, of the benefits in respect of the interest are payable as an allocated pension; and
	(b)	regulation 49 does not apply in relation to the interest.
	(2)	When a splittable payment becomes payable in respect of the superannuation interest, the non-member spouse is entitled to be paid, from the lump sum from which the allocated pension is payable, the amount of the adjusted base amount applicable to the non-member spouse at that time.
	(3)	Subject to subregulation (4), the non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
	(4)	If the lump sum from which the allocated pension is payable is less than the amount of the adjusted base amount applicable to the non-member spouse at the time the splittable payment becomes payable, the non-member spouse is entitled to be paid:
	(a)	the amount of the lump sum; and
	(b)	from each other splittable payment that becomes payable in respect of the superannuation interest, the amount calculated in accordance with subregulation (5).
	(5)	For paragraph (4) (b), the amount is calculated in accordance with the following formula:

		where:
ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest.
X is the amount of the lump sum paid to the non‑member spouse under paragraph (4) (a).
SP is the amount of the relevant splittable payment.
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest’.
[64]	Division 6.3, heading
substitute
Division 6.3	Superannuation interest in payment phase at date of service of agreement or date of order
Subdivision 6.3.1	Application of Division 6.3
[65]	Before regulation 56
insert
Subdivision 6.3.2	First or only payment split
55A	Application of Subdivision 6.3.2
		This Subdivision sets out how to calculate the non‑member spouse’s entitlement under the payment split if the payment split is the first or only payment split applicable to the splittable payment.
[66]	Subregulation 56 (1)
substitute
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension; and
	(b)	the amount of that payment is equal to or more than the amount of the base amount allocated to the non‑member spouse in relation to the interest.
[67]	Subregulation 57 (1)
substitute
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension; and
	(b)	the amount of that payment is less than the amount of the base amount allocated to the non‑member spouse in relation to the interest.
[68]	Subregulation 58 (1)
omit
This subregulation
insert
This regulation
[69]	Subregulation 58 (3), definitions of Comm and Py+m
substitute
Comm has the same meaning as in subregulation 51 (3).
Py+m has the same meaning as in subregulation 51 (3).
[70]	Paragraph 58 (4) (a)
omit
subregulation (5);
insert
subregulation (5) (the minimum lump sum);
[71]	Subparagraph 58 (4) (b) (ii)
substitute
	(ii)	the amount, calculated in accordance with subregulation (6), from:
	(A)	if the member spouse chooses to be paid, as a lump sum, an amount that is more than the minimum lump sum — the amount that is the difference between the actual lump sum paid and the minimum lump sum; and
	(B)	each other splittable payment that becomes payable in respect of the superannuation interest.
[72]	Subregulation 58 (5)
omit
the amount of the lump sum
insert
the amount of the minimum lump sum
[73]	Subregulation 58 (5), definitions of Comm and Py+m
substitute
Comm has the same meaning as in subregulation 51 (3).
Py+m has the same meaning as in subregulation 51 (3).
[74]	Subregulation 58 (6)
omit everything before the formula, insert
	(6)	For subparagraph (4) (b) (ii), the amount is calculated in accordance with the following formula:
[75]	Subregulation 58 (6), definition of SP
substitute
SP is:
	(a)	if applicable, the amount of the difference between the actual lump sum paid to the member spouse and the minimum lump sum; or
	(b)	the amount of the relevant splittable payment.
[76]	Subregulation 58 (7), definitions of Py+m and Comm
substitute
Py+m has the same meaning as in subregulation 51 (3).
Comm has the same meaning as in subregulation 51 (3).
[77]	After regulation 58
insert in Division 6.3
58A	Amount to be paid to non-member spouse — benefits payable as allocated pension
	(1)	This regulation applies in relation to the superannuation interest if the first splittable payment that becomes payable in respect of the interest after the operative time is a payment in respect of an allocated pension.
	(2)	When the splittable payment becomes payable in respect of the superannuation interest, the non-member spouse is entitled to be paid, from the lump sum from which the allocated pension is payable, the amount of the base amount allocated to the non‑member spouse in relation to the interest.
	(3)	Subject to subregulation (4), the non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
	(4)	If the lump sum from which the allocated pension is payable is less than the amount of the base amount allocated to the non‑member spouse in relation to the superannuation interest, the non-member spouse is entitled to be paid:
	(a)	the amount of the lump sum; and
	(b)	from each other splittable payment that becomes payable in respect of the superannuation interest, the amount calculated in accordance with subregulation (5).
	(5)	For paragraph (4) (b), the amount is calculated in accordance with the following formula:

		where:
ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest.
X is the amount of the lump sum paid to the non‑member spouse under paragraph (4) (a).
SP is the amount of the relevant splittable payment.
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest’.
Subdivision 6.3.3	Second or later payment split
58B	Application of Subdivision 6.3.3
		This Subdivision sets out how to calculate the non‑member spouse’s entitlement under the payment split if the payment split is a second or later payment split applicable to the splittable payment.
58C	Amount to be paid to non-member spouse — first splittable payment after operative time equal to or more than amount of earlier payments plus base amount
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension; and
	(b)	the amount of that payment is equal to or more than the sum of:
	(i)	the amount payable under subregulation 50 (3), 51 (6), 53 (4), 54 (2), 57 (3) or 58 (6) or this regulation to each other person under a payment split with an earlier operative time; and
	(ii)	the base amount allocated to the non-member spouse in relation to the interest.
	(2)	The amount that the non-member spouse is entitled to be paid in respect of the first splittable payment is the base amount.
	(3)	The non-member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
58D	Amount to be paid to non-member spouse — first splittable payment after operative time less than amount of earlier payments plus base amount
	(1)	This regulation applies in relation to the superannuation interest if:
	(a)	the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension; and
	(b)	the amount of that payment is less than the sum of:
	(i)	the amount payable under subregulation 50 (3), 51 (6), 53 (4), 54 (2), 57 (3) or 58 (6) or this regulation to each other person under a payment split with an earlier operative time; and
	(ii)	the base amount allocated to the non-member spouse in relation to the interest.
	(2)	The amount that the non-member spouse is entitled to be paid in respect of the superannuation interest is:
	(a)	the amount of the first splittable payment; and
	(b)	from each other splittable payment that becomes payable in respect of the interest, the amount calculated in accordance with subregulation (3).
Note for paragraph (a)   Because of the operation of subsection 90MX (3) of the Act, the amount under paragraph (a) will be the amount of the first splittable payment as reduced by the amount to which another person is entitled under each payment split with an earlier operative time.
	(3)	For paragraph (2) (b), the amount is calculated in accordance with the following formula:

		where:
BA is the base amount allocated to the non-member spouse in relation to the superannuation interest.
X is the amount of the first splittable payment paid to the non‑member spouse under paragraph (2) (a).
SP is the amount of the relevant splittable payment.
V is the value of the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest after the operative time, determined in accordance with the relevant method of valuation set out in Division 5.2, as if references in that Division to ‘the relevant date’ were references to ‘the date when the first splittable payment became payable in respect of the superannuation interest after the operative time’.
58E	Amount to be paid to non-member spouse — benefits payable as allocated pension
	(1)	This regulation applies in relation to the superannuation interest if the first splittable payment that becomes payable in respect of the interest after the operative time is a payment in respect of an allocated pension.
	(2)	The non-member spouse is entitled to be paid the amounts calculated in accordance with regulation 58A.
[78]	Paragraph 59 (1) (e)
omit
interest.
insert
interest;
[79]	After paragraph 59 (1) (e)
insert
	(f)	any other thing done by the trustee in relation to a superannuation interest covered by a superannuation agreement, flag lifting agreement or splitting order.
[80]	Subregulation 59 (2)
omit
(c) or (d)
insert
(c), (d) or (f)
[81]	Regulation 60
substitute
60	Waiver of rights under payment split (Act s 90MZA)
	(1)	For subsection 90MZA (2) of the Act, a waiver notice must be in accordance with Form 5 in Schedule 1.
	(2)	For paragraph 90MZA (2) (a) of the Act, each of the following persons is a prescribed financial adviser:
	(a)	a person who is the holder of an Australian financial services licence under section 913B of the Corporations Act 2001, being a licence that authorises the person to provide advice of the kind mentioned in paragraph 90MZA (2) (a) of the Family Law Act 1975;
	(b)	a person who provides a financial service, within the meaning of Chapter 7 of the Corporations Act 2001, on behalf of a person mentioned in paragraph (a) in the circumstances in which that is permitted under section 911B of that Act.
[82]	Paragraph 63 (1) (b)
omit
fund.
insert
fund; and
[83]	After paragraph 63 (1) (b)
insert
	(c)	regulation 68A does not apply in relation to the interest.
[84]	Paragraph 63 (2) (a)
substitute
	(aa)	if the interest is an unsplittable interest, a statement to that effect;
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non-member spouse’s entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (5);
[85]	Paragraph 63 (2) (d)
omit
the payment phase information
insert
subject to subregulation (6), the payment phase information
[86]	Paragraph 63 (2) (e)
substitute
	(e)	if the interest was in the growth phase at the appropriate date — subject to subregulation (6), the growth phase information in relation to the interest mentioned in subregulation (4);
	(f)	details of any fees that may be charged by the trustee under paragraph 59 (1) (a), (b), (c), (d) or (f).
[87]	Subregulation 63 (3)
substitute
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is:
	(a)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date; and
	(b)	in any other case:
	(i)	the amount of annual pension benefit payable to the member at the appropriate date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and
	(v)	a statement indicating whether there is any reversionary beneficiary in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member.
[88]	Paragraphs 63 (4) (d), (e) and (f)
substitute
	(d)	if the interest is in a regulated superannuation fund or an RSA:
	(i)	in the case of a member who has resigned from his or her employment at the date when the application for information is received by the trustee — the amount, at that date, of the member’s restricted non‑preserved benefits; and
	(ii)	in the case of any other member — the amount, at the date when the application for information is received by the trustee, of the member’s unrestricted non-preserved benefits that may be cashed by the member without any change in his or her employment;
	(e)	if the interest is in an approved deposit fund — the amount, at the date when the application for information is received by the trustee, of the member’s unrestricted non‑preserved benefits;
	(f)	if:
	(i)	a payment that would have been an eligible termination payment under Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936 had been made in respect of the interest at the date when the application for information is received by the trustee; and
	(ii)	the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan —
		the value that the components of the payment mentioned in paragraphs 27AA (1) (a), (aa), (b), (c), (cb), (d) and (e) of that Act would have had;
[89]	After subregulation 63 (4)
insert
	(5)	For paragraph (2) (a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse’s entitlement has been satisfied as required by Division 2.2) is as follows:
	(a)	the operative time for the payment split;
	(b)	if the payment split is under subparagraph 90MJ (1) (c) (i) or (ii) of the Act, or under a splitting order made under paragraph 90MT (1) (a) of the Act, and the interest was in the payment phase at the appropriate date — the amount that, under subregulation 58 (6) or 58D (3), a person is entitled to be paid from each splittable payment that becomes payable in respect of the interest;
	(c)	if the payment split is under subparagraph 90MJ (1) (c) (i) of the Act, or under a splitting order made under paragraph 90MT (1) (a) of the Act, and the interest was in the growth phase at the appropriate date:
	(i)	the base amount specified in the relevant superannuation agreement or flag lifting agreement in relation to the interest; and
	(ii)	if applicable, the adjusted base amount at the appropriate date;
	(d)	if the payment split is under subparagraph 90MJ (1) (c) (ii) of the Act and the interest was in the growth phase at the appropriate date:
	(i)	the amount set out in the document served on the trustee under paragraph 90MI (b) of the Act; and
	(ii)	if applicable, the adjusted base amount at the appropriate date;
	(e)	if the payment split is under subparagraph 90MJ (1) (c) (iii) of the Act or under a splitting order made under paragraph 90MT (1) (b) of the Act — the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest.
	(6)	The trustee is only required to provide the information mentioned in paragraph (3) (a), subparagraph (3) (b) (i) and paragraphs (4) (a), (b) and (c) if a record of that information is in the possession, power or control of the trustee.
[90]	Paragraph 64 (1) (b)
omit
fund.
insert
fund; and
[91]	After paragraph 64 (1) (b)
insert
	(c)	regulation 68A does not apply in relation to the interest.
[92]	Paragraph 64 (2) (a)
substitute
	(aa)	if the interest is an unsplittable interest, a statement to that effect;
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non-member spouse’s entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (5);
[93]	Paragraph 64 (2) (d)
omit
the payment phase information
insert
subject to subregulation (6), the payment phase information
[94]	Paragraph 64 (2) (e)
substitute
	(e)	if the interest was in the growth phase at the appropriate date — subject to subregulation (6), the growth phase information in relation to the interest mentioned in subregulation (4);
	(f)	details of any fees that may be charged by the trustee under paragraph 59 (1) (a), (b), (c), (d) or (f).
[95]	Subregulation 64 (3)
substitute
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is:
	(a)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date; and
	(b)	in any other case:
	(i)	the amount of annual pension benefit payable to the member at the appropriate date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and
	(v)	a statement indicating whether there is any reversionary beneficiary in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member.
[96]	Paragraph 64 (4) (b)
before
accrued
insert
member spouse’s
[97]	Paragraphs 64 (4) (k), (l) and (m)
substitute
	(k)	if the interest is in a regulated superannuation fund or an RSA:
	(i)	in the case of a member who has resigned from his or her employment at the date when the application for information is received by the trustee — the amount, at that date, of the member’s restricted non‑preserved benefits; and
	(ii)	in the case of any other member — the amount, at the date when the application for information is received by the trustee, of the member’s unrestricted non-preserved benefits that may be cashed by the member without any change in his or her employment;
	(l)	if the interest is in an approved deposit fund — the amount, at the date when the application for information is received by the trustee, of the member’s unrestricted non‑preserved benefits;
	(m)	if:
	(i)	a payment that would have been an eligible termination payment under Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936 had been made in respect of the interest at the date when the application for information is received by the trustee; and
	(ii)	the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan —
		the value that the components of the payment mentioned in paragraphs 27AA (1) (a), (aa), (b), (c), (cb), (d) and (e) of that Act would have had;
[98]	After subregulation 64 (4)
insert
	(5)	For paragraph (2) (a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse’s entitlement has been satisfied as required by Division 2.2) is as follows:
	(a)	the operative time for the payment split;
	(b)	if the payment split is under subparagraph 90MJ (1) (c) (i) or (ii) of the Act, or under a splitting order made under paragraph 90MT (1) (a) of the Act, and the interest was in the payment phase at the appropriate date — the amount that, under subregulation 58 (6) or 58D (3), a person is entitled to be paid from each splittable payment that becomes payable in respect of the interest;
	(c)	if the payment split is under subparagraph 90MJ (1) (c) (i) of the Act, or under a splitting order made under paragraph 90MT (1) (a) of the Act, and the interest was in the growth phase at the appropriate date:
	(i)	the base amount specified in the relevant superannuation agreement or flag lifting agreement in relation to the interest; and
	(ii)	if applicable, the adjusted base amount at the appropriate date;
	(d)	if the payment split is under subparagraph 90MJ (1) (c) (ii) of the Act and the interest was in the growth phase at the appropriate date:
	(i)	the amount set out in the document served on the trustee under paragraph 90MI (b) of the Act; and
	(ii)	if applicable, the adjusted base amount at the appropriate date;
	(e)	if the payment split is under subparagraph 90MJ (1) (c) (iii) of the Act or under a splitting order made under paragraph 90MT (1) (b) of the Act — the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest.
	(6)	The trustee is only required to provide the information mentioned in paragraph (3) (a), subparagraph (3) (b) (i) and paragraph (4) (j) if a record of that information is in the possession, power or control of the trustee.
[99]	Subregulation 65 (3)
omit
a member of the plan in respect of a defined benefit interest in the plan while the interest is in the growth phase,
insert
the member at the appropriate date,
[100]	Subregulation 65 (4)
omit everything before the formula, insert
	(4)	If:
	(a)	an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held; and
	(b)	the benefit in respect of the interest is payable as a lump sum; and
	(c)	subregulation (3) does not apply in respect of the interest;
the accrued benefit multiple is:
[101]	Subregulation 65 (5)
omit everything before the formula, insert
	(5)	If:
	(a)	an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held; and
	(b)	the benefit in respect of the interest is payable as a pension; and
	(c)	subregulation (3) does not apply in respect of the interest;
the accrued benefit multiple is:
[102]	After subregulation 65 (6)
insert
	(6A)	For the definitions of the factors T1 and T2 in subregulations (4) and (5), a defined benefit interest of a member of an eligible superannuation plan is acquired on the earlier of:
	(a)	the date when the member first became a member of the plan; and
	(b)	the date when a benefit began to accrue to the member in respect of the interest.
[103]	Subregulation 66 (1)
substitute
	(1)	This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if:
	(a)	the interest is a percentage-only interest; and
	(b)	the interest is not an interest in a self managed superannuation fund; and
	(c)	regulation 68A does not apply in relation to the interest.
[104]	Paragraph 66 (2) (a)
substitute
	(aa)	if the interest is an unsplittable interest, a statement to that effect;
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non-member spouse’s entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (5);
[105]	Paragraph 66 (2) (d)
omit
the payment phase information
insert
subject to subregulation (6), the payment phase information
[106]	Paragraph 66 (2) (e)
substitute
	(e)	if the interest was in the growth phase at the appropriate date — subject to subregulation (6), the growth phase information in relation to the interest mentioned in subregulation (4);
	(f)	details of any fees that may be charged by the trustee under paragraph 59 (1) (a), (b), (c), (d) or (f).
[107]	Subregulation 66 (3)
substitute
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is:
	(a)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date; and
	(b)	in any other case:
	(i)	the amount of annual pension benefit payable to the member at the appropriate date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and
	(v)	a statement indicating whether there is any reversionary beneficiary in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member.
[108]	Paragraph 66 (4) (a)
omit
accrued benefit multiple at separation,
insert
accrued benefit multiple,
[109]	Paragraphs 66 (4) (d) and (e)
substitute
	(d)	if the interest is in a regulated superannuation fund or an RSA:
	(i)	in the case of a member who has resigned from his or her employment at the date when the application for information is received by the trustee — the amount, at that date, of the member’s restricted non‑preserved benefits; and
	(ii)	in the case of any other member — the amount, at the date when the application for information is received by the trustee, of the member’s unrestricted non-preserved benefits;
	(e)	if:
	(i)	a payment that would have been an eligible termination payment under Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936 had been made in respect of the interest at the date when the application for information is received by the trustee; and
	(ii)	the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan —
		the value that the components of the payment mentioned in paragraphs 27AA (1) (a), (aa), (b), (c), (cb), (d) and (e) of that Act would have had;
[110]	After subregulation 66 (4)
insert
	(5)	For paragraph (2) (a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse’s entitlement has been satisfied as required by Division 2.2) is as follows:
	(a)	the operative time for the payment split;
	(b)	if the payment split is under paragraph 90MJ (1) (b) of the Act:
	(i)	the percentage specified in the relevant superannuation agreement or flag lifting agreement; and
	(ii)	whether that percentage is to apply for the purposes of subparagraph 90MJ (1) (b) (i) of the Act and, if so, the member’s accrued benefit multiple at separation, within the meaning of regulation 19, in relation to the non-member spouse who has an entitlement under the payment split;
	(c)	if the payment split is under a splitting order made under paragraph 90MT (1) (b) of the Act:
	(i)	a statement indicating that the splitting order is made under that provision of the Act; and
	(ii)	the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest;
	(d)	if the payment split is under a splitting order made under paragraph 90MT (1) (c) of the Act:
	(i)	a statement indicating that the splitting order is made under that provision of the Act; and
	(ii)	the percentage specified in the order; and
	(iii)	the member’s accrued benefit multiple at separation, within the meaning of regulation 26, in relation to the non-member spouse who has an entitlement under the payment split.
	(6)	The trustee is only required to provide the information mentioned in paragraph (3) (a), subparagraph (3) (b) (i) and paragraph (4) (c) if a record of that information is in the possession, power or control of the trustee.
[111]	Subregulation 67 (1)
substitute
	(1)	This regulation applies in relation to a superannuation interest of a member of a self managed superannuation fund unless regulation 68A applies in relation to the interest.
[112]	Paragraph 67 (2) (a)
substitute
	(aa)	if the interest is an unsplittable interest, a statement to that effect;
	(a)	a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non-member spouse’s entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (4);
[113]	Paragraph 67 (2) (d)
omit
the payment phase information
insert
subject to subregulation (5), the payment phase information
[114]	Paragraph 67 (2) (e)
omit
this effect.
insert
this effect;
[115]	After paragraph 67 (2) (e)
insert
	(f)	if requested by the applicant, a copy of the governing rules of the plan;
	(g)	details of any fees that may be charged by the trustee under paragraph 59 (1) (a), (b), (c), (d) or (f).
[116]	Subregulation 67 (3)
substitute
	(3)	For paragraph (2) (d), the payment phase information in relation to the superannuation interest is:
	(a)	if the ongoing pension payments in respect of the interest are in respect of an allocated pension — the withdrawal benefit in relation to the member at the appropriate date; and
	(b)	in any other case:
	(i)	the amount of annual pension benefit payable to the member at the appropriate date; and
	(ii)	a statement indicating whether the pension benefit is a lifetime pension or a fixed-term pension; and
	(iii)	if the pension is a fixed-term pension:
	(A)	the date when the pension payments commenced; and
	(B)	the length of the term; and
	(iv)	a statement indicating whether the pension benefit is indexed and, if so, the method of indexation.
	(4)	For paragraph (2) (a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse’s entitlement has been satisfied as required by Division 2.2) is as follows:
	(a)	the operative time for the payment split;
	(b)	if the payment split is under subparagraph 90MJ (1) (c) (i) or (ii) of the Act, or under a splitting order made under paragraph 90MT (1) (a) of the Act, and the interest was in the payment phase at the appropriate date — the amount that, under subregulation 58 (6) or 58D (3), a person is entitled to be paid from each splittable payment that becomes payable in respect of the interest;
	(c)	if the payment split is under subparagraph 90MJ (1) (c) (i) of the Act, or under a splitting order made under paragraph 90MT (1) (a) of the Act, and the interest was in the growth phase at the appropriate date:
	(i)	the base amount specified in the relevant superannuation agreement or flag lifting agreement in relation to the interest; and
	(ii)	if applicable, the adjusted base amount at the appropriate date;
	(d)	if the payment split is under subparagraph 90MJ (1) (c) (ii) of the Act and the interest was in the growth phase at the appropriate date:
	(i)	the amount set out in the document served on the trustee under paragraph 90MI (b) of the Act; and
	(ii)	if applicable, the adjusted base amount at the appropriate date;
	(e)	if the payment split is under subparagraph 90MJ (1) (c) (iii) of the Act or under a splitting order made under paragraph 90MT (1) (b) of the Act — the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest.
	(5)	The trustee is only required to provide the information mentioned in paragraph (3) (a) and subparagraph (3) (b) (i) if a record of that information is in the possession, power or control of the trustee.
[117]	After regulation 68
insert
68A	Information about certain superannuation interests in relation to which an agreement or splitting order applies (Act s 90MZB)
	(1)	This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if subregulation (2) or (3) applies to the interest.
	(2)	This subregulation applies to a superannuation interest of a member of an eligible superannuation plan if:
	(a)	the interest is identified in a superannuation agreement or flag lifting agreement; and
	(b)	the agreement specifies, under subparagraph 90MJ (1) (c) (i) of the Act, an amount as a base amount or, under subparagraph 90MJ (1) (c) (ii) of the Act, a method by which such a base amount can be calculated; and
	(c)	the agreement has been served on the trustee of the plan in accordance with section 90MI of the Act; and
	(d)	the agreement does not relate to an earlier marriage of the member spouse; and
	(e)	no order in relation to the agreement has been made under section 90MV of the Act; and
	(f)	the agreement has not been set aside.
	(3)	This subregulation applies to a superannuation interest of a member of an eligible superannuation plan if:
	(a)	a splitting order in relation to the interest has been made under paragraph 90MT (1) (a) of the Act; and
	(b)	the order does not relate to an earlier marriage of the member spouse; and
	(c)	the order has not been set aside.
	(4)	For subsection 90MZB (3) of the Act, if an application is made under section 90MZB of the Act to the trustee of the plan by a person (the applicant) who is entitled to be paid an amount whenever a splittable payment becomes payable in respect of the interest, the information about the interest that must be provided to the applicant by the trustee is the applicable commutation factor, at the date when the application for information is received by the trustee and at the next 2 anniversaries of that date, for converting any pension benefit payable in respect of the interest to a lump sum.
68B	How and when trustee must provide information
	(1)	Information about a superannuation interest that is provided by the trustee of an eligible superannuation plan to an eligible person under subsection 90MZB (3) of the Act and this Division must be stated in a document that:
	(a)	is addressed to the person; and
	(b)	is given to the person within a reasonable time after the application for information is received by the trustee.
Note   Document is defined in section 25 of the Acts Interpretation Act 1901. See also sections 28A and 29 of that Act for ways of giving a document to a person.
	(2)	A document stating information about a superannuation interest that is provided by the trustee to an eligible person under subsection 90MZB (3) of the Act and this Division is evidence:
	(a)	of the information stated in it; and
	(b)	that the document was provided to the person to whom it is addressed.
[118]	Subparagraphs 70 (2) (b) (i) and (ii)
after
base amount
insert
(if any)
[119]	Paragraph 70 (2) (e)
omit
Part III
insert
Division 2 of Part III
[120]	Paragraph 71 (1) (a)
substitute
	(a)	the interest is in a superannuation fund that is not a regulated superannuation fund; and
[121]	After paragraph 71 (1) (b)
insert
	(ba)	the interest is subject to a payment split under subparagraph 90MJ (1) (c) (i) or (ii) of the Act or under a splitting order made under paragraph 90MT (1) (a) of the Act; and
[122]	Subregulation 71 (2)
omit
The trustee
insert
Unless the payment split is under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non-member spouse’s entitlement has been satisfied as required by Division 2.2, the trustee
[123]	Schedule 1, Form 1
omit
[signature of member spouse]
[124]	Schedule 1, Form 2
omit
having been paid,
insert
being entitled to be paid,
[125]	Schedule 1, Form 2
omit
applicable to me at the date when the member spouse satisfies a relevant condition of release in relation to the superannuation interest.
insert
applicable to me.
[126]	Schedule 1, Form 3
omit
applicable to me at the date when the member spouse satisfies a relevant condition of release in relation to the superannuation interest.
insert
applicable to me.
[127]	Schedule 1, Form 4
omit
having being paid, as a lump sum,
insert
being entitled to be paid
[128]	After Schedule 1
insert
Schedule 1A	Method for calculating value of non-member spouse’s entitlement of percentage-only interest in payment phase
(subregulation 14N (7))
1	Application of Schedule 1A
		This Schedule sets out the method for calculating, for the purposes of regulation 14N, the value at a particular time of a non-member spouse’s entitlement in respect of a percentage-only interest that is in the payment phase.
2	Method
	(1)	If no benefit other than a pension is payable to the member spouse in respect of the interest, the value at a particular time of the non-member spouse’s entitlement in respect of the interest is calculated as follows:

where:
Accrued benefit multiple at separation is the member spouse’s accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the member spouse and non‑member spouse separated or, if there have been 2 or more separations, at the date of the most recent separation.
Accrued benefit multiple at payment is the member spouse’s accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the new interest is created, or the amount is transferred or rolled over or paid to the non‑member spouse.
X is the percentage specified in the relevant superannuation agreement, flag lifting agreement or splitting order.
YP is the amount of pension payable each year to the member spouse.
Py+m is the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse’s age at the date when the new interest is created, or the amount is transferred or rolled over or paid to the non-member spouse.
r is:
	(a)	if there is a surviving spouse of the member spouse — the reversionary percentage that would be payable to the surviving spouse if the member spouse had died on the day when the new interest is created, or the amount is transferred or rolled over or paid to the non-member spouse; and
	(b)	in any other case — zero.
Ry+m is the reversion valuation factor calculated in accordance with subclause (3).
F is the amount of any fees payable by the non-member spouse under regulation 59.
	(2)	If another benefit, in addition to a pension, is payable to the member spouse in respect of the interest, the value at a particular time of the non‑member spouse’s entitlement in respect of the interest is calculated as follows:

where:
Accrued benefit multiple at separation has the same meaning as in subclause (1).
Accrued benefit multiple at payment has the same meaning as in subclause (1).
X has the same meaning as in subclause (1).
YP has the same meaning as in subclause (1).
Py+m has the same meaning as in subclause (1).
r has the same meaning as in subclause (1).
Ry+m has the same meaning as in subclause (1).
OB is the amount of the other benefit payable to the member spouse in respect of the interest multiplied by the relevant discount valuation factor that applies under clause 4 of Schedule 6.
F is the amount of any fees payable by the non-member spouse under regulation 59.
	(3)	For subclauses (1) and (2), the reversion valuation factor (Ry+m) at the particular time is:

		where:
Ry is the reversion valuation factor mentioned in clause 3 of this Schedule that applies to the pension and the member spouse’s age in completed years at the date when the new interest is created, or the amount is transferred or rolled over or paid to the non-member spouse.
m is the number of completed months of the member spouse’s age that are not included in the completed years at the date mentioned in the definition of the factor Ry.
Ry+1 is the reversion valuation factor mentioned in clause 3 of this Schedule that applies to the pension and the member spouse’s age at the completion of the next year after the year mentioned in the definition of the factor Ry.
	(4)	For the purpose of applying the factor Py+m in the formula in subclauses (1) and (2), a reference in Schedule 4 to ‘the relevant date’ is to be read as if it were a reference to ‘the date when the new interest was created or the amount was transferred or rolled over or paid to the non-member spouse’.
	(5)	For the purpose of applying the factor OB in the formula in subclause (2):
	(a)	a reference in clause 4 of Schedule 6 to ‘the lump sum’ or ‘a lump sum’ is to be read as if it were a reference to ‘the other benefit payable to the member spouse in respect of the superannuation interest’; and
	(b)	the minimum deferral period, in relation to the other benefit payable to the member spouse in respect of the superannuation interest, is the minimum period of time until the other benefit is payable.
3	Reversion valuation factors
	(1)	The table in this clause sets out the reversion valuation factors.
	(2)	The factors in columns 2 and 3 apply if the pension is indexed in accordance with the consumer price index.
	(3)	The factors in columns 4 and 5 apply if the pension is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).

Age at particular time (in completed years)	Reversion valuation factors	
	CPI indexed pension	Wage indexed pension	
	Males	Females	Males	Females	
18	1.5215	0.7388	3.4170	1.6920	
19	1.5619	0.7610	3.4742	1.7240	
20	1.6016	0.7834	3.5295	1.7559	
21	1.6424	0.8065	3.5857	1.7884	
22	1.6848	0.8310	3.6433	1.8223	
23	1.7287	0.8567	3.7023	1.8575	
24	1.7744	0.8838	3.7628	1.8939	
25	1.8218	0.9119	3.8248	1.9312	
26	1.8710	0.9410	3.8883	1.9694	
27	1.9221	0.9711	3.9534	2.0083	
28	1.9752	1.0021	4.0202	2.0478	
29	2.0303	1.0341	4.0887	2.0880	
30	2.0875	1.0669	4.1588	2.1287	
31	2.1469	1.1005	4.2306	2.1698	
32	2.2085	1.1351	4.3042	2.2115	
33	2.2722	1.1705	4.3792	2.2536	
34	2.3382	1.2068	4.4560	2.2962	
35	2.4065	1.2443	4.5342	2.3395	
36	2.4770	1.2828	4.6140	2.3834	
37	2.5498	1.3224	4.6953	2.4279	
38	2.6251	1.3631	4.7781	2.4730	
39	2.7026	1.4047	4.8621	2.5185	
40	2.7825	1.4475	4.9477	2.5644	
41	2.8649	1.4912	5.0345	2.6108	
42	2.9496	1.5359	5.1225	2.6573	
43	3.0366	1.5814	5.2115	2.7041	
44	3.1258	1.6276	5.3014	2.7507	
45	3.2171	1.6745	5.3920	2.7972	
46	3.3104	1.7219	5.4830	2.8434	
47	3.4055	1.7699	5.5741	2.8893	
48	3.5020	1.8182	5.6649	2.9346	
49	3.5997	1.8667	5.7551	2.9793	
50	3.6984	1.9154	5.8443	3.0231	
51	3.7976	1.9641	5.9319	3.0660	
52	3.8970	2.0128	6.0176	3.1078	
53	3.9962	2.0613	6.1010	3.1484	
54	4.0949	2.1095	6.1816	3.1878	
55	4.1928	2.1572	6.2590	3.2256	
56	4.2893	2.2046	6.3328	3.2621	
57	4.3840	2.2513	6.4023	3.2969	
58	4.4765	2.2975	6.4672	3.3301	
59	4.5662	2.3430	6.5269	3.3617	
60	4.6525	2.3880	6.5806	3.3918	
61	4.7346	2.4322	6.6278	3.4201	
62	4.8121	2.4755	6.6680	3.4467	
63	4.8843	2.5179	6.7005	3.4712	
64	4.9505	2.5589	6.7247	3.4935	
65	5.0102	2.5985	6.7402	3.5135	
66	5.0628	2.6364	6.7465	3.5309	
67	5.1079	2.6725	6.7434	3.5456	
68	5.1451	2.7064	6.7305	3.5574	
69	5.1739	2.7382	6.7077	3.5663	
70	5.1944	2.7676	6.6751	3.5722	
71	5.2064	2.7947	6.6328	3.5751	
72	5.2103	2.8195	6.5814	3.5751	
73	5.2062	2.8420	6.5213	3.5725	
74	5.1945	2.8622	6.4531	3.5672	
75	5.1750	2.8799	6.3767	3.5589	
76	5.1470	2.8946	6.2916	3.5475	
77	5.1094	2.9059	6.1968	3.5327	
78	5.0615	2.9135	6.0919	3.5141	
79	5.0027	2.9171	5.9767	3.4916	
80	4.9332	2.9168	5.8515	3.4654	
81	4.8531	2.9132	5.7166	3.4364	
82	4.7627	2.9071	5.5727	3.4052	
83	4.6625	2.8989	5.4205	3.3724	
84	4.5533	2.8889	5.2611	3.3383	
85	4.4359	2.8767	5.0953	3.3026	
86	4.3113	2.8621	4.9246	3.2649	
87	4.1808	2.8441	4.7502	3.2244	
88	4.0454	2.8212	4.5735	3.1795	
89	3.9062	2.7917	4.3954	3.1285	
90	3.7641	2.7544	4.2170	3.0700	
91	3.6195	2.7082	4.0386	3.0031	
92	3.4748	2.6531	3.8625	2.9273	
93	3.3330	2.5889	3.6913	2.8427	
94	3.1955	2.5155	3.5259	2.7488	
95	3.0604	2.4319	3.3640	2.6446	
96	2.9247	2.3366	3.2023	2.5285	
97	2.7857	2.2275	3.0378	2.3982	
98	2.6399	2.1015	2.8665	2.2507	
99	2.4823	1.9549	2.6832	2.0821	
[129]	Schedule 2, paragraph 2 (c)
after
payable as
insert
a lump sum, a pension, or 
[130]	Schedule 2, clause 27
after
payable as
insert
a lump sum, a pension, or 
[131]	Schedule 3, subclause 2 (1)
omit the formula, insert

[132]	Schedule 3, subclause 3 (2)
substitute
	(2)	If a statement issued by the trustee of the plan in which the interest is held (being a member information statement or similar statement) that states the value of the interest at the relevant date is before the court in evidence in the relevant proceeding, the value, at the relevant date, of the actual vested benefit in respect of the interest is the value of the interest stated in the statement.
[133]	Schedule 3, subclause 3 (3), definition of V2, paragraph (b)
omit
between the relevant date and the second valuation date (excluding both those dates),
insert
beginning on the day after the relevant date and ending at the end of the second valuation date,
[134]	Schedule 3, subclause 3 (3), definition of D
substitute
D is the number of days in the period beginning on the day after the first valuation date and ending at the end of the second valuation date.
[135]	Schedule 3, subclause 3 (4)
substitute
	(4)	For the purpose of determining the value, at the relevant date, of the actual vested benefit in respect of the member spouse’s interest under subclause (3):
	(a)	if, in relation to the interest, one member information statement only is before the court in evidence in the relevant proceeding, and the relevant date is after the valuation date stated in that statement:
	(i)	the first valuation date is the valuation date stated in that statement; and
	(ii)	the value of the interest at the first valuation date is the value of the interest stated in that statement; and
	(iii)	the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and
	(iv)	the value of the interest at the second valuation date is the value of the interest at that date; and
	(b)	if, in relation to the interest, 2 member information statements are before the court in evidence in the relevant proceeding, and the relevant date is between the valuation date stated in one of those statements (the first statement) and the valuation date stated in the other statement (the second statement):
	(i)	the first valuation date is the valuation date stated in the first statement; and
	(ii)	the value of the interest at the first valuation date is the value of the interest stated in the first statement; and
	(iii)	the second valuation date is the valuation date stated in the second statement; and
	(iv)	the value of the interest at the second valuation date is the value of the interest stated in the second statement; and
	(c)	if, in relation to the interest, one member information statement only is before the court in evidence in the relevant proceeding, and the relevant date is before the valuation date stated in that statement:
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the value of the interest at the first valuation date is the value of the interest at that date; and
	(iii)	the second valuation date is the valuation date stated in the statement; and
	(iv)	the value of the interest at the second valuation date is the value of the interest stated in the statement; and
	(d)	in any other case:
	(i)	the first valuation date is the date when the interest was acquired by the member spouse; and
	(ii)	the value of the interest at the first valuation date is the value of the interest at that date; and
	(iii)	the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and
	(iv)	the value of the interest at the second valuation date is the value of the interest at that date.
	(4A)	For subparagraphs (4) (a) (iv) and (d) (iv), the value of the interest at the second valuation date includes:
	(a)	any amount payable under an earlier payment split that applies in respect of the interest; and
	(b)	the amount of any surcharge debt of the member spouse in respect of the interest.
[136]	Schedule 4, clauses 3 to 9
substitute
3	Valuation factors — pension not indexed
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is not indexed.

Age at relevant date (in completed years)	Valuation factors — pension not indexed	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	15.2550	0.2771	15.4795	0.1064	
19	15.2277	0.2873	15.4585	0.1111	
20	15.2002	0.2972	15.4365	0.1158	
21	15.1713	0.3077	15.4133	0.1207	
22	15.1406	0.3187	15.3883	0.1261	
23	15.1081	0.3304	15.3614	0.1320	
24	15.0735	0.3428	15.3326	0.1383	
25	15.0367	0.3560	15.3020	0.1451	
26	14.9976	0.3700	15.2694	0.1522	
27	14.9561	0.3848	15.2349	0.1598	
28	14.9120	0.4006	15.1983	0.1677	
29	14.8650	0.4174	15.1597	0.1761	
30	14.8153	0.4351	15.1188	0.1848	
31	14.7623	0.4540	15.0757	0.1939	
32	14.7061	0.4740	15.0301	0.2035	
33	14.6465	0.4951	14.9820	0.2134	
34	14.5832	0.5176	14.9312	0.2239	
35	14.5162	0.5413	14.8774	0.2349	
36	14.4453	0.5662	14.8204	0.2465	
37	14.3702	0.5926	14.7602	0.2586	
38	14.2906	0.6205	14.6966	0.2713	
39	14.2065	0.6497	14.6293	0.2846	
40	14.1175	0.6806	14.5583	0.2986	
41	14.0234	0.6894	14.4833	0.2943	
42	13.9240	0.6976	14.4042	0.2889	
43	13.8191	0.7050	14.3208	0.2822	
44	13.7085	0.7115	14.2332	0.2740	
45	13.5919	0.7170	14.1410	0.2642	
46	13.4693	0.7212	14.0442	0.2528	
47	13.3404	0.7240	13.9425	0.2396	
48	13.2052	0.7252	13.8358	0.2245	
49	13.0637	0.7245	13.7240	0.2074	
50	12.9156	0.7218	13.6069	0.1882	
51	12.7609	0.6413	13.4844	0.1668	
52	12.5997	0.5517	13.3562	0.1431	
53	12.4319	0.4524	13.2223	0.1171	
54	12.2575	0.3430	13.0824	0.0885	
55	12.0764	0.2233	12.9364	0.0575	
56	11.8886	0.2324	12.7841	0.0597	
57	11.6943	0.2416	12.6252	0.0619	
58	11.4934	0.2508	12.4596	0.0642	
59	11.2862	0.2601	12.2869	0.0665	
60	11.0730	0.2694	12.1068	0.0688	
61	10.8540	0.2785	11.9191	0.0711	
62	10.6295	0.2876	11.7238	0.0735	
63	10.3997	0.2965	11.5207	0.0759	
64	10.1653	0.3051	11.3099	0.0783	
65	9.9265	0.3134	11.0912	0.0807	
66	9.6836	0.3214	10.8648	0.0831	
67	9.4371	0.3289	10.6307	0.0854	
68	9.1873	0.3360	10.3891	0.0878	
69	8.9346	0.3426	10.1400	0.0901	
70	8.6790	0.3487	9.8836	0.0923	
71	8.4207	0.3542	9.6200	0.0945	
72	8.1596	0.3592	9.3492	0.0966	
73	7.8955	0.3636	9.0714	0.0987	
74	7.6282	0.3675	8.7870	0.1008	
75	7.3582	0.3708	8.4969	0.1027	
76	7.0868	0.3735	8.2023	0.1046	
77	6.8161	0.3753	7.9050	0.1063	
78	6.5477	0.3763	7.6066	0.1079	
79	6.2834	0.3763	7.3091	0.1094	
80	6.0247	0.3752	7.0137	0.1106	
81	5.7729	0.3732	6.7207	0.1117	
82	5.5290	0.3701	6.4300	0.1127	
83	5.2943	0.3660	6.1420	0.1136	
84	5.0695	0.3609	5.8578	0.1144	
85	4.8558	0.3549	5.5791	0.1151	
86	4.6542	0.3480	5.3083	0.1156	
87	4.4657	0.3403	5.0483	0.1160	
88	4.2918	0.3319	4.8023	0.1162	
89	4.1345	0.3228	4.5724	0.1160	
90	3.9956	0.3132	4.3599	0.1154	
91	3.8770	0.3031	4.1650	0.1144	
92	3.7753	0.2927	3.9868	0.1129	
93	3.6821	0.2824	3.8227	0.1111	
94	3.5907	0.2723	3.6698	0.1087	
95	3.4995	0.2623	3.5264	0.1059	
96	3.4092	0.2522	3.3917	0.1026	
97	3.3182	0.2417	3.2650	0.0986	
98	3.2257	0.2306	3.1450	0.0938	
99	3.1314	0.2184	3.0302	0.0880	
4	Valuation factors — CPI indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index.

Age at relevant date (in completed years)	Valuation factors — CPI indexed pension	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	23.0683	0.9129	23.7206	0.3694	
19	22.9687	0.9371	23.6341	0.3805	
20	22.8677	0.9610	23.5450	0.3917	
21	22.7631	0.9854	23.4526	0.4033	
22	22.6545	1.0109	23.3561	0.4155	
23	22.5418	1.0372	23.2555	0.4284	
24	22.4247	1.0646	23.1508	0.4419	
25	22.3032	1.0931	23.0419	0.4560	
26	22.1769	1.1226	22.9289	0.4705	
27	22.0458	1.1533	22.8117	0.4856	
28	21.9096	1.1851	22.6902	0.5011	
29	21.7681	1.2182	22.5643	0.5171	
30	21.6213	1.2525	22.4340	0.5335	
31	21.4688	1.2881	22.2991	0.5503	
32	21.3105	1.3251	22.1594	0.5676	
33	21.1464	1.3633	22.0150	0.5853	
34	20.9761	1.4029	21.8654	0.6034	
35	20.7996	1.4439	21.7104	0.6222	
36	20.6166	1.4862	21.5498	0.6414	
37	20.4270	1.5299	21.3835	0.6612	
38	20.2306	1.5751	21.2114	0.6816	
39	20.0272	1.6216	21.0333	0.7024	
40	19.8166	1.6695	20.8490	0.7238	
41	19.5986	1.6616	20.6583	0.7009	
42	19.3731	1.6518	20.4613	0.6758	
43	19.1400	1.6398	20.2578	0.6484	
44	18.8991	1.6254	20.0478	0.6185	
45	18.6505	1.6086	19.8312	0.5861	
46	18.3939	1.5890	19.6078	0.5510	
47	18.1296	1.5665	19.3776	0.5133	
48	17.8574	1.5409	19.1406	0.4727	
49	17.5777	1.5119	18.8966	0.4293	
50	17.2903	1.4794	18.6457	0.3831	
51	16.9956	1.2912	18.3877	0.3339	
52	16.6938	1.0912	18.1227	0.2818	
53	16.3849	0.8792	17.8505	0.2267	
54	16.0692	0.6552	17.5712	0.1688	
55	15.7468	0.4193	17.2848	0.1079	
56	15.4181	0.4289	16.9910	0.1102	
57	15.0833	0.4384	16.6899	0.1126	
58	14.7428	0.4477	16.3814	0.1149	
59	14.3970	0.4566	16.0652	0.1172	
60	14.0464	0.4653	15.7414	0.1194	
61	13.6917	0.4735	15.4099	0.1216	
62	13.3333	0.4812	15.0707	0.1238	
63	12.9718	0.4884	14.7241	0.1259	
64	12.6079	0.4951	14.3703	0.1279	
65	12.2423	0.5010	14.0096	0.1299	
66	11.8755	0.5063	13.6422	0.1318	
67	11.5080	0.5108	13.2686	0.1336	
68	11.1405	0.5145	12.8892	0.1353	
69	10.7733	0.5174	12.5043	0.1369	
70	10.4067	0.5194	12.1143	0.1384	
71	10.0409	0.5206	11.7197	0.1397	
72	9.6758	0.5210	11.3208	0.1410	
73	9.3113	0.5206	10.9178	0.1421	
74	8.9474	0.5195	10.5116	0.1431	
75	8.5846	0.5175	10.1036	0.1440	
76	8.2247	0.5147	9.6952	0.1447	
77	7.8698	0.5109	9.2887	0.1453	
78	7.5222	0.5062	8.8861	0.1457	
79	7.1835	0.5003	8.4896	0.1459	
80	6.8553	0.4933	8.1006	0.1458	
81	6.5389	0.4853	7.7193	0.1457	
82	6.2355	0.4763	7.3456	0.1454	
83	5.9460	0.4663	6.9796	0.1449	
84	5.6712	0.4553	6.6226	0.1444	
85	5.4120	0.4436	6.2766	0.1438	
86	5.1692	0.4311	5.9438	0.1431	
87	4.9438	0.4181	5.6273	0.1422	
88	4.7372	0.4045	5.3303	0.1411	
89	4.5509	0.3906	5.0548	0.1396	
90	4.3867	0.3764	4.8017	0.1377	
91	4.2463	0.3620	4.5707	0.1354	
92	4.1253	0.3475	4.3603	0.1327	
93	4.0141	0.3333	4.1673	0.1294	
94	3.9054	0.3196	3.9883	0.1258	
95	3.7971	0.3060	3.8209	0.1216	
96	3.6902	0.2925	3.6644	0.1168	
97	3.5828	0.2786	3.5174	0.1114	
98	3.4738	0.2640	3.3785	0.1051	
99	3.3630	0.2482	3.2459	0.0977	
5	Valuation factors — CPI indexed pension with 5% cap
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index with a cap of 5%.

Age at relevant date (in completed years)	Valuation factors — CPI indexed pension with 5% cap	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	22.6355	0.8668	23.2580	0.3502	
19	22.5412	0.8903	23.1764	0.3610	
20	22.4454	0.9135	23.0923	0.3718	
21	22.3463	0.9373	23.0050	0.3831	
22	22.2432	0.9620	22.9138	0.3950	
23	22.1361	0.9877	22.8185	0.4075	
24	22.0248	1.0143	22.7192	0.4207	
25	21.9091	1.0420	22.6159	0.4344	
26	21.7888	1.0708	22.5086	0.4486	
27	21.6637	1.1008	22.3972	0.4633	
28	21.5337	1.1318	22.2817	0.4784	
29	21.3986	1.1642	22.1618	0.4941	
30	21.2582	1.1978	22.0376	0.5101	
31	21.1122	1.2327	21.9090	0.5266	
32	20.9606	1.2689	21.7757	0.5436	
33	20.8032	1.3064	21.6377	0.5609	
34	20.6397	1.3454	21.4946	0.5788	
35	20.4701	1.3857	21.3463	0.5972	
36	20.2942	1.4273	21.1924	0.6162	
37	20.1117	1.4704	21.0331	0.6357	
38	19.9225	1.5149	20.8679	0.6557	
39	19.7264	1.5608	20.6968	0.6763	
40	19.5232	1.6081	20.5197	0.6974	
41	19.3127	1.6017	20.3363	0.6759	
42	19.0947	1.5935	20.1466	0.6522	
43	18.8692	1.5831	19.9505	0.6262	
44	18.6360	1.5705	19.7480	0.5978	
45	18.3951	1.5554	19.5389	0.5669	
46	18.1463	1.5376	19.3232	0.5333	
47	17.8897	1.5170	19.1006	0.4972	
48	17.6253	1.4934	18.8713	0.4583	
49	17.3534	1.4663	18.6351	0.4165	
50	17.0738	1.4359	18.3920	0.3719	
51	16.7869	1.2542	18.1419	0.3244	
52	16.4928	1.0607	17.8847	0.2740	
53	16.1917	0.8553	17.6204	0.2206	
54	15.8836	0.6378	17.3490	0.1643	
55	15.5689	0.4085	17.0704	0.1051	
56	15.2477	0.4182	16.7844	0.1075	
57	14.9204	0.4277	16.4912	0.1098	
58	14.5872	0.4370	16.1904	0.1121	
59	14.2486	0.4461	15.8821	0.1144	
60	13.9052	0.4548	15.5660	0.1167	
61	13.5575	0.4632	15.2421	0.1189	
62	13.2060	0.4711	14.9106	0.1211	
63	12.8512	0.4784	14.5715	0.1233	
64	12.4939	0.4852	14.2252	0.1254	
65	12.1346	0.4914	13.8719	0.1274	
66	11.7740	0.4969	13.5117	0.1293	
67	11.4125	0.5016	13.1452	0.1312	
68	11.0507	0.5055	12.7727	0.1329	
69	10.6891	0.5087	12.3946	0.1346	
70	10.3279	0.5110	12.0113	0.1361	
71	9.9673	0.5124	11.6232	0.1375	
72	9.6072	0.5131	11.2305	0.1388	
73	9.2476	0.5130	10.8336	0.1400	
74	8.8882	0.5121	10.4333	0.1411	
75	8.5298	0.5105	10.0310	0.1420	
76	8.1740	0.5080	9.6280	0.1428	
77	7.8230	0.5045	9.2266	0.1434	
78	7.4790	0.5000	8.8289	0.1439	
79	7.1438	0.4945	8.4371	0.1441	
80	6.8188	0.4878	8.0524	0.1442	
81	6.5054	0.4801	7.6752	0.1441	
82	6.2047	0.4714	7.3053	0.1438	
83	5.9176	0.4617	6.9429	0.1435	
84	5.6451	0.4510	6.5892	0.1431	
85	5.3879	0.4396	6.2462	0.1425	
86	5.1469	0.4274	5.9162	0.1419	
87	4.9232	0.4146	5.6023	0.1410	
88	4.7180	0.4013	5.3075	0.1399	
89	4.5330	0.3876	5.0341	0.1385	
90	4.3700	0.3736	4.7827	0.1367	
91	4.2305	0.3593	4.5533	0.1345	
92	4.1103	0.3451	4.3444	0.1318	
93	4.0000	0.3311	4.1527	0.1286	
94	3.8920	0.3175	3.9748	0.1250	
95	3.7845	0.3041	3.8085	0.1209	
96	3.6783	0.2907	3.6529	0.1162	
97	3.5716	0.2770	3.5068	0.1108	
98	3.4633	0.2626	3.3687	0.1046	
99	3.3533	0.2470	3.2368	0.0973	
6	Valuation factors — CPI indexed pension plus 1%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index plus 1%.

Age at relevant date (in completed years)	Valuation factors — CPI indexed pension plus 1%	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	28.2395	1.5557	29.2999	0.6383	
19	28.0675	1.5872	29.1436	0.6528	
20	27.8933	1.6179	28.9836	0.6674	
21	27.7145	1.6492	28.8192	0.6823	
22	27.5306	1.6814	28.6495	0.6979	
23	27.3414	1.7146	28.4744	0.7143	
24	27.1467	1.7486	28.2939	0.7312	
25	26.9465	1.7837	28.1081	0.7486	
26	26.7404	1.8199	27.9171	0.7665	
27	26.5284	1.8571	27.7207	0.7849	
28	26.3102	1.8954	27.5191	0.8036	
29	26.0857	1.9349	27.3119	0.8227	
30	25.8548	1.9754	27.0994	0.8422	
31	25.6172	2.0171	26.8812	0.8619	
32	25.3729	2.0600	26.6573	0.8821	
33	25.1219	2.1040	26.4277	0.9025	
34	24.8637	2.1493	26.1920	0.9233	
35	24.5986	2.1955	25.9499	0.9445	
36	24.3262	2.2429	25.7013	0.9661	
37	24.0464	2.2915	25.4463	0.9882	
38	23.7591	2.3411	25.1845	1.0106	
39	23.4643	2.3918	24.9159	1.0333	
40	23.1617	2.4436	24.6405	1.0565	
41	22.8512	2.4133	24.3580	1.0151	
42	22.5327	2.3803	24.0686	0.9711	
43	22.2064	2.3446	23.7720	0.9245	
44	21.8720	2.3059	23.4686	0.8751	
45	21.5297	2.2642	23.1581	0.8229	
46	21.1795	2.2192	22.8406	0.7678	
47	20.8215	2.1707	22.5159	0.7098	
48	20.4559	2.1186	22.1843	0.6489	
49	20.0831	2.0627	21.8457	0.5850	
50	19.7030	2.0028	21.5001	0.5181	
51	19.3162	1.7347	21.1476	0.4483	
52	18.9230	1.4549	20.7881	0.3756	
53	18.5235	1.1634	20.4218	0.3001	
54	18.1182	0.8606	20.0487	0.2218	
55	17.7072	0.5467	19.6689	0.1408	
56	17.2911	0.5552	19.2823	0.1429	
57	16.8702	0.5634	18.8890	0.1449	
58	16.4451	0.5711	18.4890	0.1469	
59	16.0162	0.5785	18.0823	0.1488	
60	15.5842	0.5853	17.6687	0.1506	
61	15.1500	0.5916	17.2484	0.1524	
62	14.7139	0.5973	16.8216	0.1541	
63	14.2768	0.6022	16.3886	0.1557	
64	13.8395	0.6064	15.9499	0.1572	
65	13.4026	0.6098	15.5057	0.1587	
66	12.9668	0.6124	15.0564	0.1600	
67	12.5327	0.6140	14.6027	0.1611	
68	12.1009	0.6147	14.1451	0.1622	
69	11.6719	0.6145	13.6841	0.1631	
70	11.2460	0.6134	13.2201	0.1639	
71	10.8233	0.6113	12.7537	0.1645	
72	10.4037	0.6083	12.2852	0.1650	
73	9.9871	0.6045	11.8151	0.1654	
74	9.5735	0.5998	11.3444	0.1656	
75	9.1635	0.5944	10.8745	0.1657	
76	8.7588	0.5880	10.4070	0.1656	
77	8.3619	0.5807	9.9443	0.1654	
78	7.9748	0.5723	9.4886	0.1650	
79	7.5995	0.5629	9.0422	0.1643	
80	7.2373	0.5525	8.6064	0.1635	
81	6.8897	0.5410	8.1814	0.1625	
82	6.5576	0.5286	7.7669	0.1614	
83	6.2419	0.5153	7.3629	0.1603	
84	5.9432	0.5011	6.9709	0.1590	
85	5.6625	0.4863	6.5925	0.1576	
86	5.4003	0.4709	6.2302	0.1562	
87	5.1576	0.4551	5.8871	0.1546	
88	4.9356	0.4389	5.5661	0.1527	
89	4.7358	0.4225	5.2694	0.1506	
90	4.5599	0.4059	4.9973	0.1480	
91	4.4093	0.3893	4.7496	0.1450	
92	4.2792	0.3728	4.5244	0.1416	
93	4.1597	0.3567	4.3181	0.1378	
94	4.0428	0.3411	4.1271	0.1334	
95	3.9267	0.3259	3.9489	0.1286	
96	3.8121	0.3106	3.7823	0.1231	
97	3.6971	0.2951	3.6262	0.1170	
98	3.5806	0.2789	3.4787	0.1100	
99	3.4623	0.2614	3.3381	0.1019	
7	Valuation factors — CPI indexed pension plus 1% with 5% cap
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index plus 1% with a cap of 5%.

Age at relevant date (in completed years)	Valuation factors
CPI indexed pension plus 1% with 5% cap	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	27.0672	1.3954	28.0272	0.5711	
19	26.9132	1.4255	27.8884	0.5850	
20	26.7571	1.4549	27.7463	0.5989	
21	26.5966	1.4850	27.5999	0.6132	
22	26.4313	1.5160	27.4485	0.6282	
23	26.2608	1.5479	27.2919	0.6438	
24	26.0851	1.5808	27.1301	0.6601	
25	25.9040	1.6148	26.9634	0.6769	
26	25.7174	1.6498	26.7916	0.6942	
27	25.5249	1.6859	26.6146	0.7120	
28	25.3265	1.7231	26.4326	0.7302	
29	25.1220	1.7615	26.2453	0.7487	
30	24.9113	1.8010	26.0527	0.7677	
31	24.6941	1.8418	25.8547	0.7870	
32	24.4703	1.8838	25.6512	0.8066	
33	24.2399	1.9269	25.4421	0.8266	
34	24.0025	1.9714	25.2270	0.8470	
35	23.7582	2.0168	25.0058	0.8679	
36	23.5069	2.0636	24.7782	0.8892	
37	23.2483	2.1115	24.5443	0.9109	
38	22.9822	2.1606	24.3038	0.9330	
39	22.7087	2.2109	24.0566	0.9556	
40	22.4275	2.2623	23.8026	0.9785	
41	22.1384	2.2377	23.5418	0.9417	
42	21.8414	2.2107	23.2739	0.9024	
43	21.5365	2.1810	22.9991	0.8604	
44	21.2236	2.1484	22.7174	0.8157	
45	20.9027	2.1129	22.4287	0.7682	
46	20.5738	2.0742	22.1330	0.7179	
47	20.2371	2.0321	21.8301	0.6647	
48	19.8927	1.9865	21.5202	0.6085	
49	19.5409	1.9371	21.2033	0.5494	
50	19.1818	1.8838	20.8794	0.4874	
51	18.8157	1.6341	20.5484	0.4223	
52	18.4430	1.3726	20.2103	0.3544	
53	18.0637	1.0994	19.8654	0.2835	
54	17.6783	0.8144	19.5135	0.2098	
55	17.2871	0.5181	19.1547	0.1334	
56	16.8903	0.5270	18.7889	0.1356	
57	16.4885	0.5355	18.4163	0.1377	
58	16.0820	0.5437	18.0367	0.1397	
59	15.6714	0.5515	17.6501	0.1418	
60	15.2573	0.5588	17.2564	0.1437	
61	14.8404	0.5656	16.8558	0.1456	
62	14.4213	0.5717	16.4483	0.1474	
63	14.0007	0.5773	16.0344	0.1492	
64	13.5793	0.5821	15.6143	0.1508	
65	13.1579	0.5861	15.1883	0.1524	
66	12.7369	0.5893	14.7569	0.1538	
67	12.3172	0.5916	14.3207	0.1552	
68	11.8992	0.5930	13.8800	0.1564	
69	11.4835	0.5935	13.4354	0.1574	
70	11.0702	0.5931	12.9874	0.1584	
71	10.6597	0.5918	12.5365	0.1592	
72	10.2517	0.5896	12.0829	0.1598	
73	9.8462	0.5865	11.6272	0.1604	
74	9.4431	0.5827	11.1703	0.1608	
75	9.0431	0.5780	10.7135	0.1611	
76	8.6479	0.5724	10.2587	0.1612	
77	8.2598	0.5659	9.8079	0.1611	
78	7.8811	0.5583	9.3634	0.1609	
79	7.5134	0.5497	8.9275	0.1604	
80	7.1584	0.5400	8.5016	0.1598	
81	6.8173	0.5293	8.0858	0.1590	
82	6.4912	0.5176	7.6798	0.1581	
83	6.1809	0.5050	7.2838	0.1571	
84	5.8872	0.4916	6.8991	0.1560	
85	5.6110	0.4774	6.5275	0.1548	
86	5.3528	0.4626	6.1713	0.1535	
87	5.1137	0.4474	5.8337	0.1520	
88	4.8949	0.4317	5.5177	0.1503	
89	4.6979	0.4158	5.2254	0.1483	
90	4.5245	0.3998	4.9572	0.1459	
91	4.3759	0.3836	4.7130	0.1431	
92	4.2477	0.3675	4.4908	0.1398	
93	4.1300	0.3519	4.2873	0.1360	
94	4.0148	0.3367	4.0988	0.1318	
95	3.9003	0.3218	3.9228	0.1271	
96	3.7873	0.3069	3.7583	0.1218	
97	3.6738	0.2917	3.6041	0.1158	
98	3.5588	0.2758	3.4584	0.1090	
99	3.4421	0.2587	3.3193	0.1011	
8	Valuation factors — wage indexed pension
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics).

Age at relevant date (in completed years)	Valuation factors — wage indexed pension	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	31.5392	2.0502	32.9054	0.8460	
19	31.3119	2.0845	32.6943	0.8620	
20	31.0823	2.1177	32.4791	0.8780	
21	30.8476	2.1514	32.2590	0.8942	
22	30.6073	2.1860	32.0329	0.9112	
23	30.3613	2.2214	31.8008	0.9288	
24	30.1093	2.2577	31.5629	0.9470	
25	29.8513	2.2949	31.3191	0.9656	
26	29.5871	2.3330	31.0696	0.9847	
27	29.3164	2.3720	30.8143	1.0042	
28	29.0392	2.4121	30.5533	1.0239	
29	28.7553	2.4532	30.2864	1.0440	
30	28.4648	2.4953	30.0138	1.0644	
31	28.1671	2.5384	29.7352	1.0849	
32	27.8625	2.5825	29.4505	1.1058	
33	27.5509	2.6275	29.1598	1.1268	
34	27.2318	2.6736	28.8627	1.1481	
35	26.9057	2.7205	28.5590	1.1698	
36	26.5721	2.7684	28.2486	1.1917	
37	26.2311	2.8172	27.9314	1.2140	
38	25.8824	2.8669	27.6073	1.2365	
39	25.5262	2.9173	27.2764	1.2593	
40	25.1622	2.9686	26.9383	1.2822	
41	24.7903	2.9200	26.5933	1.2271	
42	24.4106	2.8686	26.2411	1.1692	
43	24.0231	2.8142	25.8820	1.1087	
44	23.6279	2.7567	25.5159	1.0453	
45	23.2249	2.6960	25.1430	0.9790	
46	22.8144	2.6318	24.7632	0.9099	
47	22.3965	2.5641	24.3764	0.8379	
48	21.9715	2.4926	23.9830	0.7630	
49	21.5398	2.4171	23.5828	0.6852	
50	21.1015	2.3377	23.1761	0.6046	
51	20.6571	2.0168	22.7628	0.5212	
52	20.2070	1.6849	22.3430	0.4351	
53	19.7515	1.3422	21.9170	0.3463	
54	19.2910	0.9891	21.4847	0.2550	
55	18.8258	0.6259	21.0463	0.1613	
56	18.3565	0.6333	20.6017	0.1631	
57	17.8836	0.6402	20.1513	0.1648	
58	17.4074	0.6467	19.6949	0.1665	
59	16.9288	0.6527	19.2325	0.1681	
60	16.4483	0.6581	18.7641	0.1696	
61	15.9668	0.6628	18.2900	0.1710	
62	15.4849	0.6668	17.8104	0.1723	
63	15.0034	0.6701	17.3256	0.1736	
64	14.5232	0.6725	16.8361	0.1747	
65	14.0448	0.6740	16.3424	0.1757	
66	13.5691	0.6747	15.8449	0.1765	
67	13.0966	0.6743	15.3442	0.1773	
68	12.6279	0.6731	14.8409	0.1779	
69	12.1636	0.6708	14.3356	0.1783	
70	11.7039	0.6675	13.8288	0.1786	
71	11.2490	0.6633	13.3211	0.1788	
72	10.7986	0.6581	12.8129	0.1788	
73	10.3529	0.6521	12.3046	0.1786	
74	9.9114	0.6453	11.7973	0.1784	
75	9.4751	0.6377	11.2925	0.1779	
76	9.0457	0.6292	10.7919	0.1774	
77	8.6255	0.6197	10.2979	0.1766	
78	8.2168	0.6092	9.8127	0.1757	
79	7.8213	0.5977	9.3386	0.1746	
80	7.4407	0.5852	8.8770	0.1733	
81	7.0760	0.5717	8.4279	0.1718	
82	6.7283	0.5573	7.9910	0.1703	
83	6.3983	0.5421	7.5664	0.1686	
84	6.0869	0.5261	7.1553	0.1669	
85	5.7945	0.5095	6.7594	0.1651	
86	5.5219	0.4925	6.3813	0.1632	
87	5.2699	0.4750	6.0237	0.1612	
88	5.0397	0.4574	5.6900	0.1590	
89	4.8327	0.4395	5.3818	0.1564	
90	4.6505	0.4217	5.0996	0.1535	
91	4.4944	0.4039	4.8430	0.1502	
92	4.3595	0.3863	4.6099	0.1464	
93	4.2355	0.3691	4.3966	0.1421	
94	4.1143	0.3526	4.1992	0.1374	
95	3.9940	0.3364	4.0152	0.1322	
96	3.8753	0.3202	3.8434	0.1264	
97	3.7562	0.3038	3.6824	0.1199	
98	3.6357	0.2867	3.5304	0.1125	
99	3.5135	0.2683	3.3855	0.1041	
9	Valuation factors — pension indexed at 3%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed at 3%.

Age at relevant date (in completed years)	Valuation factors — pension indexed at 3%	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	25.4467	1.1877	26.2753	0.4841	
19	25.3161	1.2157	26.1592	0.4970	
20	25.1836	1.2430	26.0400	0.5099	
21	25.0470	1.2710	25.9169	0.5232	
22	24.9059	1.3000	25.7892	0.5371	
23	24.7601	1.3300	25.6567	0.5518	
24	24.6093	1.3609	25.5194	0.5671	
25	24.4535	1.3928	25.3774	0.5829	
26	24.2924	1.4259	25.2307	0.5992	
27	24.1259	1.4601	25.0792	0.6160	
28	23.9537	1.4954	24.9229	0.6332	
29	23.7757	1.5320	24.7617	0.6509	
30	23.5919	1.5698	24.5955	0.6689	
31	23.4018	1.6088	24.4243	0.6873	
32	23.2054	1.6491	24.2477	0.7062	
33	23.0027	1.6906	24.0658	0.7254	
34	22.7932	1.7334	23.8783	0.7450	
35	22.5772	1.7775	23.6848	0.7652	
36	22.3542	1.8228	23.4853	0.7858	
37	22.1242	1.8694	23.2797	0.8070	
38	21.8869	1.9173	23.0677	0.8285	
39	21.6423	1.9664	22.8493	0.8506	
40	21.3902	2.0169	22.6242	0.8730	
41	21.1303	1.9997	22.3925	0.8422	
42	20.8626	1.9802	22.1540	0.8089	
43	20.5871	1.9582	21.9086	0.7731	
44	20.3037	1.9336	21.6565	0.7347	
45	20.0122	1.9061	21.3975	0.6935	
46	19.7128	1.8756	21.1315	0.6496	
47	19.4055	1.8419	20.8583	0.6028	
48	19.0904	1.8047	20.5783	0.5531	
49	18.7678	1.7640	20.2912	0.5005	
50	18.4377	1.7194	19.9970	0.4450	
51	18.1004	1.4950	19.6957	0.3865	
52	17.7562	1.2587	19.3873	0.3250	
53	17.4052	1.0104	19.0719	0.2606	
54	17.0478	0.7502	18.7494	0.1933	
55	16.6841	0.4783	18.4198	0.1231	
56	16.3146	0.4875	18.0830	0.1254	
57	15.9395	0.4965	17.7392	0.1276	
58	15.5593	0.5052	17.3881	0.1298	
59	15.1744	0.5135	17.0298	0.1319	
60	14.7856	0.5214	16.6641	0.1340	
61	14.3934	0.5289	16.2910	0.1360	
62	13.9983	0.5357	15.9108	0.1380	
63	13.6010	0.5420	15.5236	0.1399	
64	13.2024	0.5476	15.1299	0.1417	
65	12.8029	0.5524	14.7298	0.1435	
66	12.4033	0.5565	14.3238	0.1451	
67	12.0041	0.5597	13.9123	0.1467	
68	11.6059	0.5621	13.4958	0.1481	
69	11.2092	0.5636	13.0747	0.1494	
70	10.8142	0.5642	12.6495	0.1505	
71	10.4211	0.5639	12.2207	0.1515	
72	10.0299	0.5627	11.7885	0.1524	
73	9.6404	0.5607	11.3535	0.1532	
74	9.2525	0.5580	10.9164	0.1539	
75	8.8669	0.5544	10.4786	0.1544	
76	8.4854	0.5499	10.0419	0.1548	
77	8.1102	0.5445	9.6083	0.1550	
78	7.7435	0.5381	9.1801	0.1550	
79	7.3870	0.5305	8.7595	0.1548	
80	7.0424	0.5219	8.3478	0.1544	
81	6.7108	0.5123	7.9454	0.1538	
82	6.3935	0.5016	7.5519	0.1532	
83	6.0912	0.4900	7.1675	0.1524	
84	5.8048	0.4776	6.7935	0.1515	
85	5.5351	0.4644	6.4316	0.1506	
86	5.2828	0.4505	6.0845	0.1495	
87	5.0490	0.4361	5.7550	0.1482	
88	4.8348	0.4213	5.4463	0.1468	
89	4.6419	0.4062	5.1604	0.1450	
90	4.4720	0.3908	4.8980	0.1428	
91	4.3266	0.3753	4.6589	0.1401	
92	4.2012	0.3599	4.4412	0.1371	
93	4.0859	0.3448	4.2417	0.1335	
94	3.9732	0.3301	4.0568	0.1295	
95	3.8611	0.3158	3.8841	0.1250	
96	3.7505	0.3014	3.7227	0.1199	
97	3.6393	0.2867	3.5712	0.1141	
98	3.5266	0.2713	3.4281	0.1075	
99	3.4122	0.2547	3.2915	0.0998	
10	Valuation factors — pension indexed at 5%
		The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed at 5%.

Age at relevant date (in completed years)	Valuation factors — pension indexed at 5%	
	Males	Females	
	Pension	Reversion	Pension	Reversion	
18	40.1545	3.6178	42.4637	1.5075	
19	39.7545	3.6511	42.0758	1.5237	
20	39.3526	3.6824	41.6836	1.5396	
21	38.9456	3.7138	41.2861	1.5557	
22	38.5326	3.7457	40.8820	1.5724	
23	38.1137	3.7783	40.4714	1.5897	
24	37.6887	3.8113	40.0545	1.6074	
25	37.2575	3.8449	39.6315	1.6255	
26	36.8199	3.8792	39.2026	1.6437	
27	36.3760	3.9140	38.7678	1.6622	
28	35.9256	3.9494	38.3273	1.6807	
29	35.4685	3.9856	37.8809	1.6994	
30	35.0051	4.0222	37.4289	1.7180	
31	34.5348	4.0595	36.9712	1.7367	
32	34.0578	4.0973	36.5077	1.7553	
33	33.5743	4.1356	36.0385	1.7739	
34	33.0839	4.1745	35.5633	1.7925	
35	32.5871	4.2137	35.0819	1.8112	
36	32.0836	4.2533	34.5942	1.8300	
37	31.5733	4.2932	34.1004	1.8487	
38	31.0564	4.3334	33.6004	1.8675	
39	30.5329	4.3739	33.0942	1.8862	
40	30.0028	4.4145	32.5819	1.9048	
41	29.4660	4.3068	32.0634	1.8079	
42	28.9227	4.1964	31.5390	1.7086	
43	28.3731	4.0832	31.0087	1.6069	
44	27.8174	3.9671	30.4728	1.5027	
45	27.2556	3.8480	29.9315	1.3962	
46	26.6882	3.7258	29.3847	1.2872	
47	26.1153	3.6003	28.8326	1.1760	
48	25.5376	3.4716	28.2756	1.0624	
49	24.9554	3.3394	27.7138	0.9467	
50	24.3691	3.2038	27.1473	0.8289	
51	23.7793	2.7421	26.5763	0.7091	
52	23.1865	2.2727	26.0011	0.5874	
53	22.5912	1.7963	25.4218	0.4640	
54	21.9940	1.3134	24.8387	0.3392	
55	21.3952	0.8247	24.2520	0.2129	
56	20.7954	0.8281	23.6617	0.2137	
57	20.1954	0.8309	23.0683	0.2145	
58	19.5956	0.8331	22.4716	0.2151	
59	18.9968	0.8346	21.8718	0.2156	
60	18.4000	0.8354	21.2690	0.2160	
61	17.8059	0.8354	20.6634	0.2163	
62	17.2152	0.8345	20.0555	0.2164	
63	16.6287	0.8328	19.4457	0.2165	
64	16.0475	0.8301	18.8345	0.2164	
65	15.4722	0.8264	18.2227	0.2162	
66	14.9034	0.8217	17.6105	0.2158	
67	14.3420	0.8160	16.9989	0.2153	
68	13.7884	0.8093	16.3886	0.2146	
69	13.2431	0.8016	15.7800	0.2138	
70	12.7063	0.7928	15.1739	0.2128	
71	12.1781	0.7831	14.5709	0.2116	
72	11.6582	0.7724	13.9714	0.2103	
73	11.1466	0.7609	13.3758	0.2089	
74	10.6428	0.7486	12.7854	0.2074	
75	10.1478	0.7356	12.2017	0.2057	
76	9.6632	0.7218	11.6264	0.2039	
77	9.1916	0.7071	11.0621	0.2019	
78	8.7351	0.6914	10.5110	0.1997	
79	8.2955	0.6749	9.9755	0.1974	
80	7.8742	0.6575	9.4568	0.1949	
81	7.4723	0.6393	8.9548	0.1923	
82	7.0907	0.6203	8.4689	0.1896	
83	6.7299	0.6007	7.9991	0.1869	
84	6.3906	0.5806	7.5465	0.1842	
85	6.0731	0.5600	7.1127	0.1814	
86	5.7781	0.5391	6.7001	0.1785	
87	5.5062	0.5182	6.3116	0.1755	
88	5.2583	0.4971	5.9502	0.1724	
89	5.0358	0.4762	5.6176	0.1690	
90	4.8401	0.4555	5.3138	0.1652	
91	4.6723	0.4350	5.0381	0.1610	
92	4.5270	0.4150	4.7882	0.1564	
93	4.3934	0.3956	4.5599	0.1514	
94	4.2630	0.3769	4.3490	0.1459	
95	4.1337	0.3586	4.1527	0.1399	
96	4.0063	0.3404	3.9697	0.1333	
97	3.8786	0.3220	3.7985	0.1260	
98	3.7496	0.3030	3.6370	0.1178	
99	3.6189	0.2827	3.4832	0.1086	
[137]	Schedule 5, subclause 2 (2), definition of Py+1
substitute
PY+1 is the pension valuation factor mentioned in clause 3 of this Schedule that would apply to the pension if the remaining term of the pension at the relevant date were one year more than the actual remaining term of the pension at that date. 
[138]	Schedule 5, clause 3, table
before
1	0.969	0.981	0.986	0.985	0.988	0.983	0.993	
insert
0	0.000	0.000	0.000	0.000	0.000	0.000	0.000	
[139]	After Schedule 6
insert
Schedule 7	Modifications of Division 6.2
(subregulation 46 (3))
1	Paragraph 49 (1) (b)
substitute
	(b)	the lump sum is equal to or more than the sum of each adjusted base amount payable to the non‑member spouse and to each other person under a payment split with an earlier operative time.
2	Paragraph 50 (1) (b)
substitute
	(b)	the lump sum is less than the sum of each adjusted base amount payable to the non‑member spouse and to each other person under a payment split with an earlier operative time.
3	Paragraph 50 (2) (a)
substitute
	(a)	the amount remaining from the lump sum after each other person has received, under this regulation, the amount to which he or she is entitled under a payment split with an earlier operative time; and
4	Subregulation 51 (6), definition of rV
substitute
rV is the remaining value of the superannuation interest after the payment of the lump sums, under paragraph 50 (2) (a) and subparagraph (4) (b) (ii) of this regulation, to each other person under a payment split with an earlier operative time, and to the non‑member spouse, calculated in accordance with subregulation (7).
5	Subregulation 51 (7)
omit
the non-member spouse
insert
each other person under a payment split with an earlier operative time, and to the non-member spouse,
Notes
1.	These Regulations amend Statutory Rules 2001 No. 303.
2.	Notified in the Commonwealth of Australia Gazette on 1 August 2002.