1

The component of an interest that a person who has resigned has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred benefit under paragraph 58 (1) (b) of the SS Act.

The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred benefit to which he or she is entitled under paragraph 58 (1) (b) of the SS Act to a present lump sum under subsection 58 (4) of that Act, adjusted as required by the SS Act.

2

An interest, or a component of an interest, that a person who has become an exempt officer has as a new scheme member in the superannuation scheme established by the SS Act, consisting of a deferred lump sum under subsection 61A (2) of the SS Act.

The amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum under subsection 61A (2) of the SS Act to a present lump sum under subsection 61A (5) of the SS Act, adjusted as required by the SS Act.

3

The component of an interest that a person, who became eligible to be a member of 1 of the schemes listed below and under subsection 69 (3) of the SS Act elected to cease to contribute, has under subsection 69 (4) or (5) of the SS Act as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of a deferred lump sum that the person is entitled to receive under subsection 69 (4) or (5) of the SS Act.

The amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to the deferred retirement benefit under subsection 69 (4) or (5) of the SS Act to a present lump sum under subsection 69 (4A) of the SS Act, adjusted as required by the SS Act.

Schemes

Transport Superannuation Fund

Hospitals Superannuation Fund

Local Authorities Superannuation Fund

Emergency Services Superannuation Fund

State Casual Employees Superannuation Fund

Melbourne and Metropolitan Board of Works Superannuation Fund

Gas and Fuel Corporation of Victoria Superannuation Fund

State Electricity Commission Superannuation Fund

Superannuation Schemes For Australian Universities

GIO Personal Superannuation Fund

GIO Staff Superannuation Plan

4

The component of an interest that a person:

 (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and

 (b) who has elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act;

has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred retirement benefit that the person has elected to receive under paragraph 69B (3) (b) of the SS Act.

The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred retirement benefit under paragraph 69B (3) (b) of the SS Act to a present lump sum under subsection 61A (5) of the SS Act, adjusted as required by the SS Act.

5

The component of an interest that a person:

 (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and

The amount of lump sum to which the person would be entitled if he or she were to convert his or her entitlement to a deferred lump sum under subsection 61A (2) of the SS Act to a present lump sum under subsection 61A (5) of the SS Act, adjusted as required by the SS Act.

 (b) who has not elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act;

has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of a deferred lump sum to which the person is entitled under subsection 61A (2) of the SS Act.

6

An interest, or a component of an interest, that a person who:

 (a) on a change of his or her employment is entitled to a deferred retirement benefit under the Portability Act; and

 (b) has not made an election under subsection 7 (7) of the Portability Act;

has as a new scheme member in the superannuation scheme established by the SS Act, consisting of the deferred retirement benefit to which the person is entitled under the Portability Act.

The amount of the lump sum to which the person would be entitled if he or she were to convert his or her deferred retirement benefit determined under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SS Act or the Portability Act.

7

The component of the interest that a person who:

 (a) becoming entitled on a change to his or her employment to a deferred retirement benefit under the Portability Act;

 (b) subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act;

The amount of the lump sum to which the person would be entitled if he or she were to convert his or her deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SS Act or the Portability Act.

has as a new scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred retirement benefit to which the person is entitled under paragraph 7 (7) (b) of the Portability Act.

1

An interest that a person who has retired on the ground of disability has as a new scheme member in the superannuation scheme established by the SS Act.

The method set out in clause 2 of Schedule 4 to the 2001 Regulations for determining the gross value of a pension that is indexed in accordance with the consumer price index, with the modification that the term ‘r’ in subclause 2 (1) is taken to be zero.

1

An interest that a person has as a revised scheme member in the superannuation scheme established by the SS Act, other than where he or she has:

 (a) retired (including on the grounds of disability); or

 (b) resigned; or

 (c) been retrenched; or

 (d) before attaining the minimum age for retirement, ceased to be an officer after not being reappointed as a statutory officer; or

 (e) become an exempt officer within the meaning in subsection 3 (1) of the SS Act; or

If the person has not attained the minimum age for retirement — the greatest lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s resignation or retrenchment under the SS Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 71C (4) of the SS Act.

If the person has attained the minimum age for retirement — the greatest lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s retirement through age under the SS Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 71C (4) of the SS Act.

 (f) following a change in his or her employment, an entitlement to a deferred retirement benefit under the Portability Act; or

 (g) elected to transfer to the new scheme under subsection 61 (1) of the SS Act or to the Transport Superannuation Fund under section 4 of the TS Act; or

 (h) has had his or her employment terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); or

 (i) elected under subsection 69 (3) of the SS Act to cease to contribute in accordance with that Act.

For this item, a member shall not be taken to have been retrenched or to have resigned or retired until they have applied for the relevant benefit and satisfied the requirements of the Emergency Services Superannuation Board to establish their entitlement.

2

The component of an interest that a person, who has resigned and elected to receive a cash benefit and a deferred pension under paragraph 46 (1) (a) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person has elected to receive under paragraph 46 (1) (a) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 46 (1) (a) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the

references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

3

The component of an interest that a person, who has resigned and elected to receive a cash benefit and a deferred pension under paragraph 46 (1) (b) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person has elected to receive under paragraph 46 (1) (b) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 46 (1) (b) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

4

The component of an interest that a person, who has resigned and elected to receive a cash benefit and a deferred pension under subsection 46 (3) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person has elected to receive under subsection 46 (3) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under subsection 46 (3) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

5

An interest, or a component of an interest, that a person, who has been retrenched and elected to receive a deferred pension under paragraph 44 (1) (b) of the SS Act or who is determined to be entitled to a deferred pension under subsection 44 (2) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension that the person is entitled to receive under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date, adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

6

An interest, or a component of an interest, that a person has as a revised scheme member in the superannuation scheme established by the SS Act if the person was appointed for a term of years to a statutory office and before attaining the minimum age for retirement ceases to be an officer on not being re‑appointed to that statutory office, and has elected to receive a deferred pension under paragraph 44 (1) (b) of the SS Act or who is determined to be entitled to a deferred pension under subsection 44 (2) of the SS Act, consisting of the deferred pension that the person is entitled to receive under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

7

An interest, or a component of an interest, that a person who has become an exempt officer has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension that the person is entitled to receive under subsection 61A (1) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under subsection 61A (1) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

8

An interest, or a component of an interest, that a person, who following a change in his or her employment, is entitled to a deferred retirement benefit under subsection 5 (1) of the Portability Act and has not made an election under subsection 7 (7) of the Portability Act, has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension that the person is entitled to receive under the Portability Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the pension that is the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date adjusted under subsection 7 (6) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act or the Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

9

The component of an interest that a person who, becoming entitled on a change to his or her employment to a deferred retirement benefit under the Portability Act, subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person is entitled to receive under the Portability Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the pension that is the person’s deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date adjusted under subsection 7 (6) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act or the Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

10

The component of an interest that a person, who:

 (a) has elected under subsection 61 (1) of the SS Act to transfer from the revised scheme into the new scheme; and

 (b) has elected under subsection 61 (2A) of the SS Act to receive a cash benefit and a reduced deferred pension;

has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the reduced deferred pension.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under subsection 61 (2A) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

11

An interest, or a component of an interest, that a person:

 (a) who has elected under subsection 61 (1) of the SS Act to transfer from the revised scheme into the new scheme; and

 (b) who is subsequently retrenched and under the operation of subsection 61 (9) of the SS Act is entitled to receive a deferred pension under paragraph 44 (1) (b) or

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

subsection 44 (2) of the SS Act;

has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension or the deferred benefit to which the person is entitled under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

12

The component of an interest that a person, who has elected under subsection 61 (1) of the SS Act to transfer from the revised scheme into the new scheme but has not been subsequently retrenched and has not made an election under subsection 61 (2A) of the SS

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under subsection 61 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred

Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension to which the person is entitled under subsection 61 (2) of the SS Act.

pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

13

The component of an interest that a person, who:

 (a) has elected under subsection 61 (5) of the SS Act to transfer from the revised scheme into the Transport Superannuation Fund; and

 (b) has elected under paragraph 61 (5) (b) of the SS Act to receive a cash benefit and a reduced deferred pension;

had as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the reduced deferred pension.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 61 (5) (b) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

14

An interest, or a component of an interest, that a person:

 (a) who has elected to transfer from the revised scheme into the Transport Superannuation Fund; and

 (b) who is subsequently retrenched and under the operation of subsection 61 (10) of the SS Act elects to receive a deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act;

has as a revised scheme member in the superannuation scheme established by the SS Act, consisting of the deferred pension to which the person is entitled under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 44 (1) (b) or subsection 44 (2) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

15

A component of an interest that a person, who has elected under subsection 61 (5) of SS Act to transfer from the revised scheme into the Transport Superannuation Fund but has not been subsequently retrenched and has not made an election under paragraph 61 (5) (b) of the SS Act, has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension to which the person is entitled under paragraph 61 (5) (a) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under paragraph 61 (5) (a) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

16

The component of an interest that a person, who became eligible to be a member of 1 of the schemes listed below and under subsection 69 (3) of the SS Act elected to cease to be a contributor, has under subsection 69 (4) or (5) of that Act as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension that the person is entitled to receive under subsection 69 (4) or (5) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under subsection 69 (4) or (5) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation

Schemes

Transport Superannuation Fund

Hospitals Superannuation Fund

Local Authorities Superannuation Fund

Emergency Services Superannuation Fund

State Casual Employees Superannuation Fund

Melbourne and Metropolitan Board of Works Superannuation Fund

Gas and Fuel Corporation of Victoria Superannuation Fund

factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those

State Electricity Commission Superannuation Fund

Superannuation Schemes For Australian Universities

Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member

GIO Personal Superannuation Fund

GIO Staff Superannuation Plan

spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

17

The component of an interest that a person:

 (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and

 (b) who has elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act;

has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred retirement benefit that the person has elected to receive under paragraph 69B (3) (b) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred retirement benefit under paragraph 69B (3) (b) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

18

The component of an interest that a person:

 (a) whose employment has been terminated under section 33 of the PSME Act or under subsection 81A (6) or (7) of the Public Sector Management Act 1992 (Vic); and

 (b) who has not elected to receive a deferred retirement benefit under paragraph 69B (3) (b) of the SS Act;

has as a revised scheme member in the superannuation scheme established by the SS Act, being the component consisting of the deferred pension to which the person is entitled under subsection 61A (1) of the SS Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the person’s deferred pension under subsection 61A (1) of the SS Act at the relevant date adjusted under subsection 47 (9) of that Act as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

1

An interest that a person has as a member of the superannuation scheme established by the SERB Act, other than where he or she has:

 (a) retired (including on the grounds of disability); or

 (b) resigned; or

If the person has not attained the age of 55 years — the greatest lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s resignation under the SERB Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 74CA (4) of the SERB Act.

 (c) been retrenched and elected to be entitled to deferred retirement benefits under section 38 of the SERB Act; or

 (d) become an exempt officer within the meaning in subsection 2 (1) of the SERB Act; or

If the person has attained the age of 55 years — the lump sum that would be available for the person to transfer to another complying superannuation fund at the relevant date, on the person’s retirement through age under the SERB Act, if no deduction had been made in respect of the person’s surcharge debt under subsection 74CA (4) of the SERB Act.

 (e) following a change in his or her employment, become entitled to a deferred retirement benefit under the Portability Act; or

 (f) elected to transfer to the SS Fund or to the Transport Superannuation Fund under subsection 33 (6) of the SERB Act; or

 (g) become entitled to benefits under subsection 77 (1) of the SERB Act on ceasing to be an employee of a water authority so as to become an employee of another water authority; or

 (h) elected under subsection 22A (3) of the SERB Act to cease to contribute in accordance with that Act.

For this item, a member shall not be taken to have been retrenched or to have resigned or retired before they have applied for the relevant benefit and satisfied the requirements of the Emergency Services Superannuation Board to establish their entitlement.

For this item, any cessation of employment is to be disregarded if the member ceased to be a permanent employee but within 6 months again became an employee and made an election under subsection 21A (4) of the SERB Act.

2

The interest that a person, who became eligible to be a member of 1 of the schemes listed below and, under paragraph 22A (3) (a) of the SERB Act, elected to cease to contribute in accordance with the provisions of that Act and to be entitled to deferred retirement benefits under paragraph 22A (4) (a) of that Act, has as a member of the superannuation scheme established by the SERB Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act.

Schemes

State Superannuation Fund

DP is the annual amount of the pension that is part of the person’s deferred retirement benefit determined under section

Transport Superannuation Fund

Hospitals Superannuation Fund

Local Authorities Superannuation Fund

Emergency Services Superannuation Fund

 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to

State Casual Employees Superannuation Fund

Melbourne and Metropolitan Board of Works Superannuation Fund

Gas and Fuel Corporation of Victoria Superannuation Fund

State Electricity Commission Superannuation Fund

Superannuation Schemes For Australian Universities

Zoological Board of Victoria Superannuation Fund

the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’.  If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references

in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

3

The component of an interest that a person, who became eligible to be a member of 1 of the schemes listed below and who, after electing under paragraph 22A (3) (a) of the SERB Act to cease to contribute in accordance with the provisions of that Act and to be entitled to deferred retirement benefits under paragraph 22A (4) (a) of that Act terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of a deferred lump sum benefit and the deferred pension benefit that the person has elected to receive under paragraph 22A (4) (a) of the SS Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act.

DP is the annual amount of the pension that is part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to

Schemes

State Superannuation Fund

Transport Superannuation Fund

Hospitals Superannuation Fund

Local Authorities Superannuation Fund

Emergency Services Superannuation Fund

State Casual Employees Superannuation Fund

Melbourne and Metropolitan Board of Works Superannuation Fund

the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s

Gas and Fuel Corporation of Victoria Superannuation Fund

State Electricity Commission Superannuation Fund

Superannuation Schemes For Australian Universities

Zoological Board of Victoria Superannuation Fund

age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

4

The component of an interest that a person who has resigned and elected under section 38 of the SERB Act to be entitled to deferred retirement benefits in accordance with the provisions of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of a deferred lump sum benefit and the deferred pension under the Portability Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum under section 6 of the Portability Act to a present lump sum under subsection 38 (2A) of the SERB Act, adjusted as required by the SERB Act or the Portability Act.

DP is the annual amount of the pension,

being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under section 6 of the Portability Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

5

The component of an interest that a person who has resigned (other than a person who has elected under subsection 38 (1) of the SERB Act to be entitled to deferred retirement benefits in accordance with the provisions of the Portability Act) has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred benefit under paragraph 37 (1) (b) of the SERB Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum under paragraph 37 (1) (b) of the SERB Act to a present lump sum under subsection 37 (1B) of the SERB Act, adjusted as required by the SERB Act.

DP is the annual amount of the pension, to which the person is entitled under

subparagraph 37 (1) (b) (ii) of the SERB Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor in column 3 of the table in clause 4 of Schedule 6 to the 2001 Regulations as if the reference to ‘minimal deferral period for lump sum’ in that table is a reference to ‘time until person attains the age of 55 years’.

PVF is the applicable pension valuation factor set out in clause 4 of Schedule 4 to the 2001 Regulations at age 55 years.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

6

An interest, or a component of an interest that a person, who has been retrenched and elected to be entitled to deferred retirement benefits under section 38 of the SERB Act, has as a member of the superannuation scheme established by the SERB Act, consisting of a deferred lump sum benefit and the deferred pension to which the person is entitled under the Portability Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under section 6 of the Portability Act to a present lump sum under subsection 38 (2A) of the SERB Act, adjusted as required by the SERB Act or the Portability Act.

DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under section 6 of the Portability Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

7

The component of an interest that a person, who has been retrenched and elected to be entitled to deferred retirement benefits under section 37 of the SERB Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred benefit under paragraph 37 (1) (b) of the SERB Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum, to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under paragraph 37 (1) (b) of the SERB Act to a present lump sum under subsection 37 (1B) of the SERB Act, adjusted as required by the SERB Act.

DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under paragraph 37 (1) (b) of the SERB Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

8

An interest, or a component of an interest, that a person, who has become an exempt officer and has not made an election under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, consisting of a deferred lump sum benefit and the deferred pension to which the person is entitled under the Portability Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum, to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under section 6 of the Portability Act to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act.

DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under subsection 6 (1) of the Portability Act for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

9

The component of an interest that a person, who after becoming an exempt officer subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred retirement benefit to which the person is entitled under paragraph 7 (7) (b) of the Portability Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum, to which the person is entitled if he or she converted his or her entitlement to a deferred lump sum calculated under paragraph 7 (7) (b) of the Portability Act to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act.

DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under section 6 of the Portability Act for a member electing to

receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s

age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

10

An interest, or a component of an interest that a person who, following a change in his or her employment, is entitled to a deferred retirement benefit under the Portability Act and has not made an election under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, consisting of a deferred lump sum and the deferred pension to which the person is entitled under the Portability Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act.

DP is the annual amount of the pension that is part of the person’s deferred

retirement benefit determined under section 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

11

The component of an interest that a person who, becoming entitled on a change to his or her employment to a deferred retirement benefit under the Portability Act, subsequently terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of a deferred lump sum benefit and the deferred pension under the Portability Act.

The formula:

DLS + [DP × F × (PVF + RVF × .6667)]

where:

DLS is the amount of the lump sum to which the person would be entitled if he or she were to convert the lump sum part of the person’s deferred retirement benefit determined under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the SERB Act or the Portability Act.

DP is the annual amount of the pension that is part of the person’s deferred retirement benefit determined under section 6 of the Portability Act at the relevant date for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

12

The component of an interest that a person, who prior to the introduction of the Portability Act has resigned and elected under section 38 of the SERB Act to be entitled to deferred retirement benefits in accordance with the provisions of the Superannuation Benefits Act 1977 (Vic), has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred pension.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under subsection 3 (1) or section 4 of the Superannuation Benefits Act 1977 (Vic) for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

13

The component of an interest that a person, who prior to the introduction of the Portability Act has been retrenched and elected to be entitled to deferred retirement benefits under section 38 of the SERB Act, has as a member of the superannuation scheme established by the SERB Act, being the component consisting of the deferred pension.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the pension, being the part of the deferred retirement benefit to which the person is entitled that is a pension, calculated under subsection 3 (1) of the Superannuation Benefits Act 1977 (Vic) for a member electing to receive the deferred pension at the later of the age of 55 years and the relevant date and, adjusted as required by the SERB Act or Portability Act.

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until the person attains the age 55’. If the person has already reached age 55 or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and age 55 as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age at relevant date (in completed years) and age 55’ and the reference in column 1 of the table in clause 4 to ‘Age at

relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age at relevant date (in completed years) and age 55’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

1

The component of an interest that a person, who became eligible to a deferred pension under subsection 3 (1) of the Superannuation Benefits Act 1977 (Vic), has under subsection 3 (1) or section 4 of that Act being the component consisting of the deferred pension under subsection 3 (1) or section 4 of that Act.

The formula:

DP × F × (PVF + RVF × .6667)

where:

DP is the annual amount of the pension that is the person’s deferred retirement benefit determined under subsection 3 (1) or section 4 of the Superannuation Benefits Act 1977 (Vic) at the relevant date adjusted as for a member electing to receive the deferred pension at the later of the date of attaining the minimum age for retirement and the relevant date and, adjusted as required by the SS Act or the Superannuation Benefits Act 1977 (Vic).

F is the applicable discount valuation factor calculated in accordance with the formula in subclause 3 (3) of Schedule 6 to the 2001 Regulations and using the factors in column 3 of the table in clause 4 of Schedule 6 to those 2001 Regulations as if the

references to ‘minimal deferral period for lump sum’ in subclause 3 (3) and the table in clause 4 are references to ‘period until person attains the minimum age for retirement’. If the person has already reached the minimum age for retirement or is within 1 month of that age, F is taken to be 1.

PVF is the applicable pension valuation factor calculated in accordance with the formula in subclause 2 (2) of Schedule 4 to the 2001 Regulations and using the factors set out in clause 4 of Schedule 4 to those 2001 Regulations at the later of the age at the relevant date and minimum age for retirement as if the references in subclause 2 (2) to ‘member spouse’s age’ are references to ‘greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’ and the reference in column 1 of the table in clause 4 to ‘Age at relevant date (in completed years)’ is a reference to ‘Greater of member spouse’s age and the minimum age for retirement at relevant date (in completed years)’.

RVF is the applicable reversion valuation factor set out in clause 7 of Schedule 2 to the 2001 Regulations.

1

An interest, or a component of an interest, that a person who has resigned has as a member of the superannuation scheme established by the TS Act, consisting of the deferred benefit he or she is entitled to receive under paragraph 35 (1) (b) of the TS Act.

The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred benefit to which he or she is entitled under paragraph 35 (1) (b) of the TS Act to a present lump sum under subsection 35 (4A) of that Act, adjusted as required by the TS Act.

2

An interest, or a component of an interest, that a person, who has become an exempt officer, has as a member of the superannuation scheme established by the TS Act, consisting of a deferred lump sum under subsection 34A (1) of the TS Act.

The amount of the lump sum to which the person would be entitled if he or she were to convert the deferred lump sum to which he or she is entitled under subsection 34A (1) of the TS Act to a present lump sum under subsection 34A (3) of that Act, adjusted as required by the TS Act.

3

An interest or a component of an interest, that a person, who following a change in his or her employment is entitled to a deferred retirement benefit under subsection 5 (1) of the Portability Act and has not made an election under subsection 7 (7) of the Portability Act, has as a member of the superannuation scheme established by the TS Act, consisting of the deferred retirement benefit under the Portability Act.

The amount of the lump sum to which the person would be entitled if he or she were to convert the person’s deferred retirement benefit under section 6 of the Portability Act at the relevant date to a present lump sum under subsection 5 (2A) of the Portability Act, adjusted as required by the TS Act or the Portability Act.

4

The component of an interest that a person who, on a change in his or her employment would otherwise be entitled to a deferred retirement benefit under subsection 5 (1) of the Portability Act, terminated his or her employment prior to attaining the minimum age for retirement on a ground other than disability or death and elected a benefit under subsection 7 (7) of the Portability Act, being the component consisting of the deferred retirement benefit he or she has elected to receive under paragraph 7 (7) (b) of the Portability Act.

The amount of the lump sum to which the person would be entitled if he or she were to convert the person’s deferred retirement benefit under paragraph 7 (7) (b) of the Portability Act at the relevant date to a present lump sum under subsection 7 (7A) of the Portability Act, adjusted as required by the TS Act or the Portability Act.

1

An interest that a person who has retired on the ground of disability has as a member of the superannuation scheme established by the TS Act.

The method set out in clause 2 of Schedule 4 to the 2001 Regulations for determining the gross value of a pension that is indexed in accordance with the consumer price index, with the modification that the term ‘r’ in subclause 2 (1) is taken to be zero.

1

An interest that a member of the Legislative Assembly or the Legislative Council has in the State Scheme.

where:

ABP is the person’s accrued basic pension multiple at the relevant date calculated, by reference to the person’s period of service as a member of the Legislative Assembly or the Legislative Council:

 (a) by adding:

 (i) for service that occurred within the first 8 years — 0.0625 × each full year of service plus 0.0625/365 × the number of left‑over days in that period; and

 (ii) for service that occurred within the next 10 years — 0.025 × each full year of service plus 0.025/365 × the number of left‑over days in that period; and

 (b) if the Parliamentary Trustee has paid an amount in respect of the interest under section 21CC of the State Act — by subtracting from the amount calculated under paragraph (a) the sum of any basic percentage components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a pension under the State Act becomes payable in respect of the interest.

Note   ABP will not exceed 0.75.

BasicS is the person’s basic salary, within the meaning given by subsection 10 (1) of the State Act, at the relevant date.

AARA is the accrued additional retiring allowance, if any, to which the person would be entitled under the Commonwealth Act if:

 (a) he or she were a member of the House of Representatives or a Senator (and had been such a member during the time he or she was a member of the Legislative Assembly or the Legislative Council); and

 (b) the time he or she held any State office were time spent in an equivalent Commonwealth office;

being the lesser of:

 (c) the sum of additional retiring allowances the person would have accrued at the relevant date for each Commonwealth office that the person would have held during the person’s period of service calculated, for each office, as the product of:

 (i) the person’s accrued additional retiring allowance multiple — being 0.0625 × the number of years, and any fraction of a year, the person served in the State office during that period and, if the Parliamentary Trustee has paid or transferred an amount in respect of the interest under section 21CC of the State Act, that multiple less the sum of any additional percentage components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a pension under that Act becomes payable; and

 (ii) the annual additional salary payable in respect of the equivalent State office under section 6 of the State Act at the relevant date; and

 (d) whichever of the following applies:

 (i) if the person would have accrued additional retiring allowance for 1 Commonwealth office only and the Parliamentary Trustee has not paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the annual additional salary payable in respect of the person’s State office at the relevant date;

 (ii) if the person would have accrued additional retiring allowance for 1 Commonwealth office only and the Parliamentary Trustee has paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the annual additional salary payable in respect of the person’s State office at the relevant date less the product of the sum of any additional percentage components arising from any previous payment splits (calculated in accordance with the State methodology) and that annual additional salary at the relevant date;

 (iii) if the person would have accrued additional retiring allowance for 2 or more Commonwealth offices and the Parliamentary Trustee has not paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the highest annual additional salary payable in respect of the person’s State offices at the relevant date;

 (iv) if the person would have accrued additional retiring allowance for 2 or more Commonwealth offices and the Parliamentary Trustee has paid or transferred an amount in respect of the interest under section 21CC of the State Act — 75% of the highest annual additional salary payable in respect of the person’s State offices at the relevant date less the sum of the products of any additional percentage components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a pension under the State Act becomes payable, and the annual additional salary payable in respect of the office to which the additional percentage component applies at the relevant date.

PFy+m,s is the pension valuation factor calculated in accordance with the following formula:

where:

PFy,s is the pension valuation factor mentioned for:

 (a) the person’s age in completed years (y) at the relevant date; and

 (b) the person’s period of service in completed years (s) as at the date of the last Legislative Assembly election before the relevant date;

in whichever of Tables 1 to 8 is applicable, according to Table A, given the person’s gender and the number of completed years, at the relevant date, since the last election of the Legislative Assembly.

m is the number of complete months of the person’s age at the relevant date that are not included in the person’s completed years of age.

PFy+1,s is the pension valuation factor mentioned in whichever of Tables 1 to 8 is applicable that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.

LS is the sum of the person’s member contributions paid to the relevant date less the sum of any member contribution components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under the State Act becomes payable in respect of the interest if the person is not entitled to a pension, plus:

 (a) for a person whose period of service is less than 8 years — 2 1/3 times the amount deducted from the person’s salary under section 14 of the State Act in the person’s period of service before the relevant date, less the sum of any Commonwealth supplement components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under the State Act becomes payable in respect of the interest if the person is not entitled to a pension; or

 (b) for a person whose period of service is at least 8 years — 2 1/3 times the amount deducted from the person’s salary under section 14 of the State Act in the period of service of 8 years immediately before the relevant date, less the sum of any Commonwealth supplement components arising from any previous payment splits (calculated in accordance with the State methodology) that would apply after a benefit under that Act becomes payable in respect of the interest if the person is not entitled to a pension.

LSFy+m,s is the lump sum factor calculated in accordance with the following formula:

where:

LSFy,s is the lump sum valuation factor mentioned for:

 (a) the person’s age in completed years (y) at the relevant date; and

 (b) the person’s period of service in completed years (s) as at the date of the last Legislative Assembly election before the relevant date;

in whichever of Tables 9 to 16 is applicable, according to Table A, given the person’s gender and the number of completed years, at the relevant date, since the last election of the Legislative Assembly.

m has the meaning given above.

LSFy+1,s is the lump sum valuation factor mentioned in whichever of Tables 9 to 16 is applicable that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.

1

An interest that a person has in the State Scheme if he or she is entitled to be paid a pension under that Scheme.

where:

A is the pension, expressed as an annual amount, to which the person is entitled under Part II of the State Act.

Fy+m is the factor calculated in accordance with the following formula:

where:

Fy is the pension valuation factor mentioned in Table 17 that applies at the person’s age in completed years (y) at the relevant date for the person’s gender and type of pension.

m is the number of complete months of the person’s age at the relevant date that are not included in the person’s completed years of age.

Fy+1 is the pension valuation factor mentioned in Table 17 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.

Male

0

Table 1

Table 9

Male

1

Table 2

Table 10

Male

2

Table 3

Table 11

Male

3 or more

Table 4

Table 12

Female

0

Table 5

Table 13

Female

1

Table 6

Table 14

Female

2

Table 7

Table 15

Female

3 or more

Table 8

Table 16

30

9.9236

13.2510

13.2483

13.2455

17.6407

31

9.8288

13.1385

13.1358

13.1328

17.5097

17.5068

32

9.7282

13.0206

13.0178

13.0148

17.3733

17.3704

17.3671

33

9.6364

12.9058

12.9029

12.8998

17.2363

17.2333

17.2301

17.2264

34

9.5298

12.7803

12.7770

12.7737

17.0904

17.0874

17.0840

17.0803

18.1646

35

9.4318

12.6576

12.6540

12.6503

16.9434

16.9403

16.9368

16.9330

18.0178

18.0137

36

9.3307

12.5308

12.5266

12.5225

16.7912

16.7879

16.7843

16.7805

17.8658

17.8615

17.8568

37

9.2137

12.3922

12.3875

12.3828

16.6295

16.6258

16.6220

16.6179

17.7053

17.7010

17.6962

17.6909

38

9.0935

12.2494

12.2440

12.2386

16.4624

16.4583

16.4540

16.4498

17.5392

17.5348

17.5298

17.5244

39

9.0092

12.1257

12.1196

12.1135

16.3038

16.2991

16.2944

16.2896

17.3765

17.3719

17.3668

17.3613

40

8.8830

11.9748

11.9681

11.9613

16.1263

16.1210

16.1156

16.1103

17.1989

17.1941

17.1888

17.1831

41

8.7246

11.7859

11.7786

11.7710

15.9047

15.8986

15.8924

15.8864

16.9771

16.9717

16.9661

16.9602

42

8.6450

11.6406

11.6328

11.6246

15.7050

15.6983

15.6913

15.6845

16.7672

16.7612

16.7551

16.7489

43

8.5049

11.4563

11.4479

11.4389

15.4782

15.4708

15.4631

15.4552

16.5364

16.5296

16.5228

16.5159

44

8.3299

11.2478

11.2388

11.2291

15.2326

15.2246

15.2161

15.2074

16.2901

16.2825

16.2747

16.2670

45

8.2718

11.1047

11.0954

11.0854

15.0217

15.0130

15.0039

14.9943

16.0644

16.0557

16.0469

16.0382

46

8.0862

10.8820

10.8720

10.8613

14.7588

14.7495

14.7394

14.7290

15.8007

15.7911

15.7810

15.7711

47

8.0161

10.7236

10.7131

10.7018

14.5295

14.5198

14.5091

14.4978

15.5570

15.5464

15.5353

15.5240

48

7.9438

10.5595

10.5487

10.5369

14.2921

14.2821

14.2709

14.2587

15.3047

15.2933

15.2811

15.2685

49

7.7339

10.3097

10.2975

10.2847

13.9982

13.9873

13.9754

13.9625

15.0110

14.9985

14.9853

14.9713

50

7.5195

10.0535

10.0397

10.0252

13.6946

13.6830

13.6701

13.6563

14.7074

14.6940

14.6794

14.6642

51

7.6096

9.9320

9.9193

9.9049

13.4170

13.4055

13.3925

13.3783

14.3862

14.3726

14.3573

14.3411

52

7.2760

9.5506

9.5375

9.5221

12.9765

12.9637

12.9500

12.9348

13.9488

13.9346

13.9187

13.9012

53

6.9338

9.1575

9.1442

9.1282

12.5218

12.5078

12.4924

12.4763

13.4960

13.4809

13.4642

13.4458

54

7.4252

9.2590

9.2510

9.2395

12.3585

12.3463

12.3316

12.3154

13.2374

13.2225

13.2056

13.1871

55

7.3355

8.9966

8.9906

8.9811

11.9676

11.9562

11.9415

11.9244

12.8176

12.8025

12.7849

12.7654

56

7.0717

8.6905

8.6905

8.6807

11.6296

11.6178

11.6021

11.5834

12.4816

12.4643

12.4453

12.4241

57

7.6658

9.1394

9.1394

9.1394

11.7381

11.7306

11.7186

11.7027

12.4531

12.4360

12.4162

12.3950

58

7.3842

8.8160

8.8160

8.8160

11.3840

11.3765

11.3645

11.3478

12.1034

12.0848

12.0625

12.0381

59

7.0796

9.2600

9.2600

9.2600

11.4619

11.4619

11.4542

11.4418

12.0532

12.0364

12.0146

11.9892

60

9.4750

9.4750

9.4750

11.5604

11.5604

11.5604

11.5527

12.0132

11.9988

11.9787

11.9536

61

9.1034

9.1034

9.1034

11.1426

11.1426

11.1426

11.1426

11.6207

11.6063

11.5852

11.5584

62

8.7197

8.7197

8.7197

10.7123

10.7123

10.7123

10.7123

11.2258

11.2113

11.1900

11.1618

63

11.8636

11.8636

11.8636

11.8636

11.8636

11.8636

11.8525

11.8341

64

11.3992

11.3992

11.3992

11.3992

11.3992

11.3992

11.3992

11.3802

65

10.9226

10.9226

10.9226

10.9226

10.9226

10.9226

10.9226

10.9226

66

10.4631

10.4631

10.4631

10.4631

10.4631

10.4631

10.4631

10.4631

67

10.0021

10.0021

10.0021

10.0021

10.0021

10.0021

10.0021

10.0021

68

9.5402

9.5402

9.5402

9.5402

9.5402

9.5402

9.5402

9.5402

69

9.0774

9.0774

9.0774

9.0774

9.0774

9.0774

9.0774

9.0774

70

8.6146

8.6146

8.6146

8.6146

8.6146

8.6146

8.6146

8.6146

30

10.2391

13.6672

13.6646

13.6617

31

10.1498

13.5583

13.5557

13.5527

18.0553

32

10.0520

13.4425

13.4398

13.4367

17.9206

17.9177

33

9.9483

13.3211

13.3183

13.3152

17.7804

17.7774

17.7741

34

9.8531

13.2026

13.1996

13.1964

17.6394

17.6364

17.6330

17.6293

35

9.7428

13.0731

13.0697

13.0663

17.4892

17.4861

17.4827

17.4789

18.5905

36

9.6410

12.9462

12.9424

12.9387

17.3378

17.3346

17.3310

17.3272

18.4394

18.4351

37

9.5361

12.8152

12.8109

12.8067

17.1812

17.1778

17.1741

17.1701

18.2829

18.2786

18.2737

38

9.4147

12.6719

12.6671

12.6623

17.0145

17.0108

17.0069

17.0027

18.1178

18.1134

18.1084

18.1084

39

9.2909

12.5251

12.5195

12.5140

16.8429

16.8387

16.8343

16.8300

17.9472

17.9426

17.9376

17.9376

40

9.2039

12.3978

12.3916

12.3853

16.6799

16.6751

16.6703

16.6654

17.7801

17.7754

17.7702

17.7702

41

9.0436

12.2082

12.2013

12.1943

16.4584

16.4529

16.4475

16.4420

17.5591

17.5541

17.5487

17.5487

42

8.8796

12.0130

12.0056

11.9978

16.2298

16.2236

16.2173

16.2112

17.3304

17.3249

17.3193

17.3193

43

8.7964

11.8625

11.8545

11.8462

16.0237

16.0168

16.0097

16.0027

17.1140

17.1079

17.1016

17.1016

44

8.6500

11.6712

11.6625

11.6534

15.7891

15.7817

15.7738

15.7658

16.8756

16.8687

16.8617

16.8617

45

8.4675

11.4547

11.4455

11.4356

15.5353

15.5271

15.5185

15.5095

16.6212

16.6134

16.6055

16.6055

46

8.4046

11.3049

11.2955

11.2853

15.3165

15.3078

15.2985

15.2887

16.3876

16.3787

16.3698

16.3698

47

8.2104

11.0734

11.0632

11.0523

15.0447

15.0352

15.0250

15.0144

16.1153

16.1054

16.0952

16.0952

48

8.1341

10.9073

10.8967

10.8852

14.8070

14.7972

14.7862

14.7747

15.8632

15.8524

15.8411

15.8411

49

8.0562

10.7358

10.7248

10.7128

14.5612

14.5510

14.5396

14.5272

15.6024

15.5908

15.5784

15.5784

50

7.8367

10.4761

10.4636

10.4506

14.2572

14.2462

14.2340

14.2209

15.2990

15.2863

15.2728

15.2728

51

7.5304

10.1173

10.1035

10.0889

13.8387

13.8270

13.8141

13.8002

14.8831

14.8695

14.8549

14.8549

52

7.6190

9.9886

9.9759

9.9615

13.5504

13.5390

13.5259

13.5116

14.5504

14.5368

14.5214

14.5214

53

7.2713

9.5923

9.5793

9.5638

13.0944

13.0817

13.0679

13.0526

14.0982

14.0840

14.0679

14.0679

54

6.9158

9.1849

9.1717

9.1557

12.6244

12.6105

12.5950

12.5788

13.6307

13.6156

13.5987

13.5987

55

7.4202

9.2873

9.2796

9.2682

12.4547

12.4427

12.4280

12.4118

13.3632

13.3484

13.3315

13.3315

56

7.4626

9.1714

9.1653

9.1556

12.2285

12.2169

12.2018

12.1842

13.1039

13.0884

13.0703

13.0703

57

7.1891

8.8555

8.8555

8.8454

11.8816

11.8695

11.8534

11.8342

12.7596

12.7419

12.7224

12.7224

58

7.7996

9.3174

9.3174

9.3174

11.9947

11.9871

11.9747

11.9584

12.7321

12.7146

12.6943

12.6943

59

7.5055

8.9820

8.9820

8.9820

11.6309

11.6232

11.6109

11.5938

12.3738

12.3548

12.3318

12.3318

60

7.1875

9.4395

9.4395

9.4395

11.7134

11.7134

11.7056

11.6929

12.3250

12.3077

12.2853

12.2853

61

9.6631

9.6631

9.6631

11.8193

11.8193

11.8193

11.8114

12.2881

12.2734

12.2526

12.2526

62

9.2830

9.2830

9.2830

11.3940

11.3940

11.3940

11.3940

11.8896

11.8748

11.8531

11.8531

63

8.8911

8.8911

8.8911

10.9562

10.9562

10.9562

10.9562

11.4891

11.4742

11.4522

11.4522

64

12.1602

12.1602

12.1602

12.1602

12.1602

12.1602

12.1488

12.1488

65

11.6866

11.6866

11.6866

11.6866

11.6866

11.6866

11.6866

11.6866

66

11.2214

11.2214

11.2214

11.2214

11.2214

11.2214

11.2214

11.2214

67

10.7542

10.7542

10.7542

10.7542

10.7542

10.7542

10.7542

10.7542

68

10.2856

10.2856

10.2856

10.2856

10.2856

10.2856

10.2856

10.2856

69

9.8159

9.8159

9.8159

9.8159

9.8159

9.8159

9.8159

9.8159

70

9.3453

9.3453

9.3453

9.3453

9.3453

9.3453

9.3453

9.3453

30

10.5708

14.0982

14.0956

31

10.4733

13.9849

13.9823

13.9793

32

10.3812

13.8729

13.8701

13.8671

18.4800

33

10.2803

13.7536

13.7508

13.7477

18.3415

18.3386

34

10.1729

13.6283

13.6254

13.6222

18.1972

18.1942

18.1908

35

10.0743

13.5060

13.5029

13.4996

18.0521

18.0490

18.0455

18.0418

36

9.9599

13.3721

13.3687

13.3652

17.8974

17.8943

17.8907

17.8868

19.0267

37

9.8543

13.2411

13.2373

13.2334

17.7416

17.7383

17.7347

17.7307

18.8713

18.8669

38

9.7453

13.1057

13.1013

13.0970

17.5803

17.5768

17.5731

17.5690

18.7103

18.7059

18.7059

39

9.6204

12.9584

12.9534

12.9485

17.4092

17.4053

17.4013

17.3971

18.5408

18.5362

18.5362

18.5362

40

9.4929

12.8074

12.8017

12.7961

17.2329

17.2286

17.2241

17.2196

18.3656

18.3610

18.3610

18.3610

41

9.3731

12.6423

12.6359

12.6295

17.0265

17.0216

17.0167

17.0117

18.1557

18.1508

18.1508

18.1508

42

9.2072

12.4464

12.4395

12.4323

16.7981

16.7925

16.7870

16.7814

17.9279

17.9229

17.9229

17.9229

43

9.0374

12.2448

12.2372

12.2293

16.5623

16.5560

16.5497

16.5433

17.6923

17.6867

17.6867

17.6867

44

8.9495

12.0883

12.0801

12.0716

16.3492

16.3422

16.3350

16.3279

17.4688

17.4626

17.4626

17.4626

45

8.7965

11.8895

11.8807

11.8715

16.1067

16.0991

16.0911

16.0829

17.2225

17.2155

17.2155

17.2155

46

8.6059

11.6645

11.6552

11.6451

15.8440

15.8358

15.8269

15.8178

16.9596

16.9517

16.9517

16.9517

47

8.5378

11.5080

11.4984

11.4880

15.6177

15.6088

15.5993

15.5894

16.7184

16.7093

16.7093

16.7093

48

8.3343

11.2671

11.2567

11.2456

15.3366

15.3269

15.3165

15.3056

16.4372

16.4271

16.4271

16.4271