Family Law (Superannuation) Regulations 2001 Statutory Rules No. 303, 2001 made under the Family Law Act 1975 Compilation No. 27 Compilation date: 1 November 2023 Includes amendments up to: F2023L01458 Registered: 23 November 2023 About this compilation This compilation This is a compilation of the Family Law (Superannuation) Regulations 2001 that shows the text of the law as amended and in force on 1 November 2023 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law. Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes. Modifications If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law. Self‑repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes. Contents Part 1—Preliminary 1 Name of Regulations 3 Definitions 4 Expressions used in Part VIIIB or VIIIC of the Act 5 Meaning of defined benefit interest 6 Meaning of growth phase—superannuation interests in regulated superannuation funds, approved deposit funds and RSAs 7 Meaning of growth phase—superannuation interests in other eligible superannuation plans 8 Meaning of payment phase 9 Meaning of partially vested accumulation interest 9A Meaning of percentage‑only interest (Act s 90XD, s 90YD) 9B Meaning of percentage‑only interest—parliament 70 category under the Deed 10 Meaning of trustee (Act s 90XD, s 90YD) 10A Meaning of unflaggable interest (Act s 90XD, s 90YD) 11 Meaning of unsplittable interest (Act s 90XD, 90YD) 11A Meaning of lifetime pension etc. Part 2—Payments that are not splittable payments Division 2.1—General 12 Payments to member spouse that are not splittable payments (Act s 90XE, s 90YG) 13 Payments after death of member spouse that are not splittable payments (Act s 90XE, s 90YG) Division 2.2—Particular circumstances in which payments are not splittable payments 14 Circumstances in which payments are not splittable payments 14A Meaning of certain expressions for Division 2.2 14F New interest created or amount transferred or rolled over or paid, under SIS Regulations or RSA Regulations, in satisfaction of non‑member spouse's entitlement 14G New interest created or amount transferred or rolled over or paid by trustee (other than under regulation 14F), or separate entitlement arising, in satisfaction of non‑member spouse's entitlement under agreement or order 14H Amount paid by member spouse in satisfaction of non‑member spouse's entitlement under agreement or order 14N New interest created or amount transferred or rolled over or paid by trustee, or separate entitlement arising, in satisfaction of non‑member spouse's entitlement under agreement or order 14P New deferred annuity established or amount transferred or rolled over or paid by trustee of deferred annuity in satisfaction of non‑member spouse's entitlement under agreement or order 14Q New annuity established or amount transferred or rolled over or paid by trustee of a superannuation annuity (other than under regulation 14P) in satisfaction of non‑member spouse's entitlement under agreement or order Part 3—Payment splitting or flagging by agreement Division 3.1—Superannuation interest that is not a percentage‑only interest 15 Application of Division 3.1 (Act s 90XJ, s 90YN) 16 Entitlement of non‑member spouse—superannuation interest not in existence or in growth phase 17 Entitlement of non‑member spouse—superannuation interest in payment phase Division 3.2—Superannuation interest that is a percentage‑only interest 18 Application of Division 3.2 (Act s 90XJ, s 90YN) 19 Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest (other than an interest in a superannuation annuity) 19A Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest in a superannuation annuity Division 3.3—Miscellaneous 20 Superannuation interests in excess of low rate cap amount—total withdrawal value (Act s 90XQ, 90YV) Part 4—Payment splitting or flagging by court order Division 4.1—Superannuation interest that is not a percentage‑only interest 21 Application of Division 4.1 (Act s 90XT, s 90YY) 22 Determination of amount in relation to certain superannuation interests 23 Entitlement of non‑member spouse—interests other than small superannuation accounts interests 24 Determination of value of small superannuation accounts interests Division 4.2—Superannuation interest that is a percentage‑only interest 25 Application of Division 4.2 (Act s 90XT, s 90YY) 26 Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest (other than an interest in a superannuation annuity) 26A Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest in a superannuation annuity Part 5—Determination of amount in relation to certain superannuation interests Division 5.1—Superannuation interest in growth phase at relevant date 27 Application of Division 5.1 (Act s 90XT, s 90YY) 28 Method for determining amount in relation to a superannuation interest—general 29 Method for determining gross value—defined benefit interest 30 Approval of retirement age 31 Method for determining gross value—accumulation interest (other than a partially vested accumulation interest) 32 Method for determining gross value—partially vested accumulation interest 33 Method for determining gross value—combination of defined benefit interest and accumulation interest 34 Method for determining gross value—combination of defined benefit interest and partially vested accumulation interest 35 Method for determining gross value—interest that is the greater of a defined benefit interest and an accumulation interest 36 Method for determining gross value—interest that is the lesser of a defined benefit interest and an accumulation interest 37 Method for determining gross value—defined benefit less other amount 38 Approval of methods and factors for determining gross value of particular superannuation interests Division 5.2—Superannuation interest in payment phase at relevant date 39 Application of Division 5.2 (Act s 90XT, s 90YY) 40 Method for determining amount in relation to a superannuation interest—general 41 Method for determining gross value—benefits payable only as one or more lump sums 42 Method for determining gross value—benefits paid as pension 43 Method for determining gross value—benefits paid as pension and lump sum also payable 43A Approval of methods and factors for determining gross value of superannuation interest being paid as a life pension Part 6—Entitlement of non‑member spouse in respect of certain superannuation interests Division 6.1—Interpretation 44 Definition for Part 6 45 Meaning of base amount allocated to the non‑member spouse Division 6.1A—Adjustment of base amount 45A Adjustment of base amount 45B Applicable adjustment periods—superannuation interests other than those to which regulation 45C applies 45C Applicable adjustment periods—whole of superannuation interest is accumulation interest 45D Interest rates for adjustment of base amount Division 6.2—Superannuation interest in growth phase at date of service of agreement or date of order 46 Application of Division 6.2 (Act s 90XJ, s 90XT, s 90YN, s 90YY) 49 Amount to be paid to non‑member spouse—benefit payable only as lump sum that is equal to or more than adjusted base amount 50 Amount to be paid to non‑member spouse—benefit payable only as lump sum that is less than adjusted base amount 51 Amount to be paid to non‑member spouse—optional lump sum from remaining benefits 52 Amount to be paid to non‑member spouse—optional lump sum—payment of whole of adjusted base amount 53 Amount to be paid to non‑member spouse—optional lump sum—payment of part of adjusted base amount 54 Amount to be paid to non‑member spouse—no benefit payable only as lump sum or first splittable payment not lump sum 54A Amount to be paid to non‑member spouse—benefits payable as allocated pension or market linked pension Division 6.3—Superannuation interest in payment phase at date of service of agreement or date of order Subdivision 6.3.1—Application of Division 6.3 55 Application of Division 6.3 (Act s 90XJ, s 90XT, s 90YN, s 90YY) Subdivision 6.3.2—First or only payment split 55A Application of Subdivision 6.3.2 56 Amount to be paid to non‑member spouse—first splittable payment after operative time equal to or more than base amount 57 Amount to be paid to non‑member spouse—first splittable payment after operative time less than base amount 58 Amount to be paid to non‑member spouse—optional lump sum from remaining benefits 58A Amount to be paid to non‑member spouse—benefits payable as allocated pension or market linked pension Subdivision 6.3.3—Second or later payment split 58B Application of Subdivision 6.3.3 58C Amount to be paid to non‑member spouse—first splittable payment after operative time equal to or more than amount of earlier payments plus base amount 58D Amount to be paid to non‑member spouse—first splittable payment after operative time less than amount of earlier payments plus base amount 58E Amount to be paid to non‑member spouse—benefits payable as allocated pension or market linked pension Part 7—General provisions about payment splitting Division 7.1—General 59 Fees payable to trustee (Act s 90XY, s 90YZO) 60 Waiver of rights under payment split (Act s 90XZA, s 90YZQ) Division 7.2—Provision of information to and by trustee 61 Definitions for Division 7.2 62 Application to trustee for information—accompanying declaration (Act s 90XZB, s 90YZR) 63 Information about certain accumulation interests (Act s 90XZB, 90YZR) 63A Giving valuation information—partially vested accumulation interest (Act s 90XZB, s 90YZR) 64 Information about certain defined benefit interests (Act s 90XZB, s 90YZR) 64A Giving underlying valuation information—defined benefit interests 65 Information about certain defined benefit interests—meaning of accrued benefit multiple 66 Information about certain percentage‑only interests (Act s 90XZB, s 90YZR) 67 Information about interests in self managed superannuation funds (Act s 90XZB, s 90YZR) 68 Information about small superannuation accounts interests (Act s 90XZB, s 90YZR) 68A Information about certain superannuation interests in relation to which an agreement or splitting order applies (Act s 90XZB, s 90YZR) 68B How and when trustee must provide information 69 Secondary government trustee not required to provide information (Act s 90XZB, s 90YZR) 70 Information to be provided by trustee following service of agreement or order (Act s 90XZB, s 90YZR) 71 Information to be provided by trustee at end of financial year 72 Notice to trustee by non‑member spouse Part 8—Application, saving and transitional provisions 73 Purpose of Part 8 74 Amendments made by Family Law (Superannuation) Amendment (ABS) Regulation 2013 75 Amendments made by Family Law (Superannuation) Amendment (Unsplittable Interests) Regulations 2023 Schedule 1—Forms Form 1—Notice to trustee that non‑member spouse's entitlement under agreement or order satisfied Form 2—Request to trustee by non‑member spouse for payment, as lump sum, of all or part of remaining adjusted base amount Form 3—Request to trustee by non‑member spouse for payment, as lump sum, of all or part of adjusted base amount Form 4—Request to trustee by non‑member spouse for payment, as lump sum, of all or part of remaining base amount Form 5—Waiver notice in respect of payment split Form 6—Declaration to accompany application to trustee for information about a superannuation interest Schedule 1A—Value of non‑member spouse's entitlement for percentage‑only interest in superannuation fund or approved deposit fund in payment phase Part 1—Preliminary 1 Application of Schedule 1A 2 Definitions Part 2—Method for subparagraphs 90XJ(1)(b)(i) and 90YN(1)(b)(i), and paragraphs 90XT(1)(c) and 90YY(1)(c), of the Act 3 Method for subparagraphs 90XJ(1)(b)(i) and 90YN(1)(b)(i), and paragraphs 90XT(1)(c) and 90YY(1)(c), of the Act Part 3—Method for subparagraphs 90XJ(1)(b)(ii) and 90YN(1)(b)(ii), and paragraphs 90XT(1)(b) and 90YY(1)(b), of the Act 4 Method for subparagraphs 90XJ(1)(b)(ii) and 90YN(1)(b)(ii), and paragraphs 90XT(1)(b) and 90YY(1)(b), of the Act Part 4—Reversion valuation factors 5 Reversion valuation factors Schedule 2—Method for determining gross value of defined benefit interest Part 1—Preliminary 1 Application of Schedule 2 2 Method Part 2—Interest relating to current employment—benefit payable only as lump sum 3 Method 4 Lump sum valuation factors Part 3—Interest relating to current employment—benefit payable only as pension 5 Method 6 Valuation factors—no guarantee period—pension not indexed 7 Valuation factors—no guarantee period—CPI indexed pension 7A Valuation factors—no guarantee period—CPI indexed pension with 5% cap 8 Valuation factors—no guarantee period—CPI indexed pension plus 1% 9 Valuation factors—no guarantee period—CPI indexed pension plus 1% with 5% cap 10 Valuation factors—no guarantee period—wage indexed pension 11 Valuation factors—no guarantee period—pension indexed at 3% 12 Valuation factors—no guarantee period—pension indexed at 5% 13 Valuation factors—5‑year guarantee period—pension not indexed 14 Valuation factors—5‑year guarantee period—CPI indexed pension 14A Valuation factors—5‑year guarantee period—CPI indexed pension with 5% cap 15 Valuation factors—5‑year guarantee period—CPI indexed pension plus 1% 16 Valuation factors—5‑year guarantee period—CPI indexed pension plus 1% with 5% cap 17 Valuation factors—5‑year guarantee period—wage indexed pension 18 Valuation factors—5‑year guarantee period—pension indexed at 3% 19 Valuation factors—5‑year guarantee period—pension indexed at 5% 20 Valuation factors—10‑year guarantee period—pension not indexed 21 Valuation factors—10‑year guarantee period—CPI indexed pension 21A Valuation factors—10‑year guarantee period—CPI indexed pension with 5% cap 22 Valuation factors—10‑year guarantee period—CPI indexed pension plus 1% 23 Valuation factors—10‑year guarantee period—CPI indexed pension plus 1% with 5% cap 24 Valuation factors—10‑year guarantee period—wage indexed pension 25 Valuation factors—10‑year guarantee period—pension indexed at 3% 26 Valuation factors—10‑year guarantee period—pension indexed at 5% Part 4—Interest relating to current employment—benefit payable as combination of lump sum and pension 28 Method—no restriction on combination of lump sum and pension that may be taken 29 Method—restriction on proportion of pension that may be commuted to lump sum 29A Method—restriction on lump sum amount that may be converted to pension 30 Conversion of accrued benefit multiple Part 5—Interest relating to former employment—benefit payable only as lump sum 31 Method—lump sum comprising different components 32 Discount valuation factors 33 Method—lump sum (other than lump sum comprising different components) Part 6—Interest relating to former employment—benefit payable only as pension 34 Method—pension payable periodically 35 Discount valuation factors 36 Method—conversion of lump sum to pension Part 7—Interest relating to former employment—benefit payable as combination of lump sum and pension 37 Method—no restriction on combination of lump sum and pension that may be taken 38 Method—restriction on proportion of pension that may be commuted to lump sum 39 Method—restriction on lump sum amount that may be taken as pension Schedule 3—Method for determining gross value of partially vested accumulation interest 1 Application of Schedule 3 2 Method 3 Actual vested benefit 3A Total amount standing to credit of member spouse if benefit were fully vested at relevant date 4 Vesting factors Schedule 4—Method for determining gross value of superannuation interest payable as life pension 1 Application of Schedule 4 2 Method 3 Valuation factors—pension not indexed 4 Valuation factors—CPI indexed pension 5 Valuation factors—CPI indexed pension with 5% cap 6 Valuation factors—CPI indexed pension plus 1% 7 Valuation factors—CPI indexed pension plus 1% with 5% cap 8 Valuation factors—wage indexed pension 9 Valuation factors—pension indexed at 3% 10 Valuation factors—pension indexed at 5% Schedule 4A—Method for determining value of superannuation interest in lifetime annuity 1 Application of Schedule 4A 2 Method Schedule 5—Method for determining gross value of superannuation interest payable as fixed‑term pension 1 Application of Schedule 5 2 Method 3 Pension valuation factors Schedule 5A—Method for determining value of superannuation interest in fixed term annuity 1 Application of Schedule 5A 2 Method Schedule 6—Method for determining gross value of superannuation interest payable as pension and future lump sum 1 Application of Schedule 6 2 Definitions for Schedule 6 3 Method 4 Discount valuation factors Schedule 7—Modifications of Division 6.2 Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Part 1—Preliminary 1 Name of Regulations These Regulations are the Family Law (Superannuation) Regulations 2001. 3 Definitions In these Regulations, unless the contrary intention appears: accumulation interest means a superannuation interest, or a component of a superannuation interest, that is not a defined benefit interest or a small superannuation accounts interest. Act means the Family Law Act 1975. adjusted base amount, in relation to a non‑member spouse at a particular date, means the base amount allocated to the non‑member spouse, adjusted at that date in accordance with Division 6.1A. allocated annuity means an annuity that is paid, within a range of minimum and maximum payments, from an identifiable lump sum and includes an annuity that arises under a contract that meets the standards of subregulation 1.05(4) of the SIS Regulations. allocated pension means a pension paid, within a range of minimum and maximum payments, from an identifiable lump sum, including: (a) a pension provided under rules of a superannuation fund that meet the standards of subregulation 1.06(4) of the SIS Regulations; and (b) a pension provided under terms and conditions of an RSA that meet the standards of subregulation 1.07(2) of the RSA Regulations. annuity provider means a person, body or organisation that has entered into a contract to provide an annuity. constitutionally protected fund has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. Deed means the trust Deed as existing at the time this definition commences governing the scheme continued in existence under section 5 of the Superannuation (State Public Sector) Act 1990 (Qld). deferred annuity means an annuity that is not presently payable. defined benefit interest has the meaning given by regulation 5. exempt public sector superannuation scheme has the same meaning as in the SIS Act. fixed term annuity means an annuity that: (a) is not a market linked annuity; and (b) is paid for a fixed period. Government Division Rules means the Division Rules (within the meaning of the Deed) as existing at the time this definition commences that relate to the Government Division referred to in clause 2.1 of the Deed. growth phase, in relation to a superannuation interest (other than a small superannuation accounts interest) of a member spouse, has the meaning given by regulation 6 or 7. Judges' Pensions Act Scheme means the scheme constituted by the Judges' Pensions Act 1968 for the provision of retirement and other benefits to and in respect of Judges, within the meaning of that Act. lifetime pension: a benefit in respect of a superannuation interest, or a component of a superannuation interest, of a member spouse in an eligible superannuation plan is a lifetime pension of the member spouse if the benefit is payable as a pension for the life of the member spouse. Note: Regulation 11A also affects the meaning of lifetime pension. market linked annuity means an annuity, other than an allocated annuity, that: (a) is paid from an identifiable lump sum; and (b) arises under a contract that meets the standards of subregulation 1.05(10) of the SIS Regulations. market linked pension means a pension, other than an allocated pension, paid from an identifiable lump sum that meets the standards of subregulation 1.06(8) of the SIS Regulations or subregulation 1.07(3A) of the RSA Regulations. member information statement, in relation to a member of an eligible superannuation plan, means a statement issued periodically to the member by the trustee of the plan that sets out information about the value of the member's interest in the plan (for example, the member's account balance, share in the plan or withdrawal benefit) at a particular date. member's retirement age, for a member who has a defined benefit interest in an eligible superannuation plan, means: (a) subject to paragraphs (b) and (c), the latest retirement age for the member specified in the governing rules of the plan; or (b) if the latest retirement age for the member specified in the governing rules of the plan is more than 65 years, or no retirement age is specified in the governing rules of the plan—65 years; or (c) if the Minister has, under regulation 30, approved a retirement age as the retirement age for members of the plan, or an identifiable class of members of the plan that includes the member—the approved age. Note: Regulation 30 authorises the Minister to approve as the retirement age for members, or an identifiable class of members, who hold a defined benefit interest in an eligible superannuation plan, an age other than: (a) the retirement age specified in the governing rules of the plan; or (b) the age of 65 years. net earnings, in relation to a superannuation interest in a regulated superannuation fund, approved deposit fund or RSA to which the financial product disclosure provisions of the Corporations Regulations 2001 (being the provisions in Part 7.9 of those Regulations) apply, has the meaning given by regulation 7.9.01 of those Regulations. partially vested accumulation interest has the meaning given by regulation 9. Participation Schedule means the part of the Government Division Rules known as the Participation Schedule. payment phase, in relation to a superannuation interest (other than a small superannuation accounts interest) of a member spouse, has the meaning given by regulation 8. pension means a pension, within the meaning of section 10 of the SIS Act, payable from an eligible superannuation plan (other than an account within the meaning of the Small Superannuation Accounts Act 1995). percentage‑only interest has the meaning given by regulation 9A. public sector superannuation scheme has the same meaning as in the SIS Act. relevant date, for the purpose of determining, under Part 5, an amount in relation to a superannuation interest that is subject to a payment split, means: (a) in relation to a payment split under a superannuation agreement or flag lifting agreement: (i) the date agreed on for that purpose by the parties to the agreement; or (ii) if no date is agreed on by the parties to the agreement and the agreement is dated—the date shown on the agreement; or (iii) if no date is agreed on by the parties to the agreement and the agreement is not dated—the date when a copy of the agreement is served on the trustee of the relevant eligible superannuation plan; and (b) in relation to a payment split under a splitting order—the date determined by the court. RSA Regulations means the Retirement Savings Accounts Regulations 1997. self managed superannuation fund has the same meaning as in the SIS Act. SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994. small superannuation accounts interest means a superannuation interest in an account within the meaning of the Small Superannuation Accounts Act 1995. superannuation annuity has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. superannuation contributions surcharge means superannuation contributions surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997. superannuation fund has the same meaning as in the SIS Act. unflaggable interest has the meaning given by regulation 10A. unsplittable interest has the meaning given by regulation 11. withdrawal benefit: (a) for a member of a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund, has the meaning given by subregulation 1.03(1) of the SIS Regulations; and (b) for a member of an RSA, has the meaning given by subregulation 1.03(1) of the RSA Regulations; and (c) for a member who has a small superannuation accounts interest, means the balance of the member's account; and (d) for a member of any other eligible superannuation plan, means the total amount of benefits that would be payable to the member if the member voluntarily ceased to be a member of the plan. 4 Expressions used in Part VIIIB or VIIIC of the Act An expression used in these Regulations that is also used in Part VIIIB or VIIIC of the Act has the same meaning as in that Part, to the extent that these Regulations have effect for the purposes of that Part. Note: See sections 90XD and 90YD of the Act for definitions in Parts VIIIB and VIIIC, respectively, of the Act. 5 Meaning of defined benefit interest (1) For the purposes of these Regulations, a defined benefit interest is: (a) subject to subregulation (2), a superannuation interest that a member spouse has in an eligible superannuation plan, being an interest in respect of the whole of which the member spouse is entitled, when benefits in respect of the interest become payable, to be paid a benefit that is, or may be, defined by reference to one or more of the amounts or factors mentioned in subregulation (1A); or (b) subject to subregulation (2), a component of a superannuation interest that a member spouse has in an eligible superannuation plan, being a component in respect of which the member spouse is entitled, when benefits in respect of the interest become payable, to be paid a benefit that is, or may be, defined by reference to one or more of the amounts or factors mentioned in subregulation (1A); or (c) a superannuation interest that: (i) a member spouse has in the scheme provided for by the Australian Defence Force Cover Act 2015; and (ii) is in the payment phase. (1A) For subregulation (1), the amounts and factors are as follows: (a) the amount of: (i) the member spouse's salary at the date of the termination of the member spouse's employment, the date of the member spouse's retirement, or another date; or (ii) the member spouse's salary averaged over a period; (b) the amount of salary, or allowance in the nature of salary, payable to another person (for example, a judicial officer, a member of the Commonwealth or a State Parliament, a member of the Legislative Assembly of a Territory); (c) a specified amount; (d) specified conversion factors. (2) However, a superannuation interest, or a component of a superannuation interest, is not a defined benefit interest because of paragraph (1)(a) or (b) if: (a) the only benefits payable in respect of the interest or component that are defined by reference to the amounts or factors mentioned in subregulation (1A) are benefits payable on death or invalidity; and (b) there are no other circumstances in which benefits payable in respect of the interest or component are, or could have been, defined by reference to the amounts or factors mentioned in subregulation (1A). Note 1: Subregulation (2) has the effect that paragraphs (1)(a) and (b) do not apply to a superannuation interest or component if defined benefit factors: (a) are only used to calculate death or invalidity benefits in respect of the interest or component; and (b) would not be used to calculate benefits in respect of the interest or component that would become payable in other circumstances, such as on age retirement or the termination of employment. Note 2: However, subregulation (2) does not prevent a superannuation interest or component mentioned in paragraph (1)(c) being a defined benefit interest for the purposes of these Regulations (even if paragraph (1)(a) or (b) could also apply to the superannuation interest or component). Example 1: Benefits in respect of a superannuation interest of a member spouse are payable on retirement based on the balance of the member's account. However, on death or invalidity the benefit is to be defined by reference to amounts or factors mentioned in subregulation (1A). The member retires on invalidity and the benefits that become payable to the member are then defined by reference to those amounts or factors. The superannuation interest is not a defined benefit interest because defined benefit factors only applied, and could only have applied, in the circumstance of the death or invalidity of the member spouse. Example 2: Benefits in respect of a component of a superannuation interest of a member spouse are payable in a range of circumstances, including death, invalidity or retirement, and are to be defined by reference to amounts or factors mentioned in subregulation (1A). The component is a defined benefit interest because death or invalidity are not the only circumstances in which defined benefit factors are, or could be, applied to calculate the benefits in respect of the interest. 6 Meaning of growth phase—superannuation interests in regulated superannuation funds, approved deposit funds and RSAs (1) This regulation applies to a superannuation interest of a member spouse in any of the following eligible superannuation plans: (a) a regulated superannuation fund; (b) an approved deposit fund; (c) an RSA. (2) For these Regulations, the superannuation interest is taken to be in the growth phase at a particular date if the member spouse satisfies the requirements of subregulation (3), (4) or (5) at that date. (3) A member spouse satisfies the requirements of this subregulation at a particular date if the member spouse has not satisfied a relevant condition of release at that date. (4) A member spouse satisfies the requirements of this subregulation at a particular date if the member spouse has satisfied a relevant condition of release at that date, but no benefit has been paid in respect of the superannuation interest, and no action has been taken by or for the member spouse under the governing rules of the plan to cash any benefit that the member spouse is entitled to be paid as a result of satisfying the condition of release. (5) A member spouse satisfies the requirements of this subregulation at a particular date if: (a) the member spouse has satisfied a relevant condition of release at that date; and (b) a benefit (other than a benefit that is paid as a pension) has been paid to or for the benefit of the member spouse or, if the member spouse has died, to his or her legal personal representative, but no action has been taken by or for the member spouse, or his or her legal personal representative, under the governing rules of the plan to receive any other benefit that the member spouse, or his or her estate, is entitled to be paid as a result of satisfying the condition of release. (6) In this regulation: relevant condition of release means: (a) for a member spouse who has a superannuation interest in a regulated superannuation fund—a condition of release mentioned in item 101, 102, 103, 106 or 108 of Schedule 1 to the SIS Regulations; and (b) for a member spouse who has a superannuation interest in an approved deposit fund—a condition of release mentioned in item 201, 202, 203 or 206 of Schedule 1 to the SIS Regulations; and (c) for a member spouse who has a superannuation interest in an RSA—a condition of release mentioned in item 101, 102, 103, 106 or 107 of Schedule 2 to the RSA Regulations. 7 Meaning of growth phase—superannuation interests in other eligible superannuation plans (1) This regulation applies to a superannuation interest of a member spouse in any of the following eligible superannuation plans: (a) a superannuation annuity; (b) a superannuation fund other than a regulated superannuation fund. (2) For these Regulations, the superannuation interest is taken to be in the growth phase at a particular date if, at that date: (a) a releasing event in relation to the member spouse has not occurred; or (b) a releasing event in relation to the member spouse has occurred, but no action has been taken by or for the member spouse under the governing rules of the plan to receive any benefit that the member spouse is entitled to be paid as a result of the occurrence of the releasing event; or (c) a releasing event in relation to the member spouse has occurred and a benefit (other than a benefit that is paid as a pension) has been paid to or for the benefit of the member spouse or, if the member spouse has died, to his or legal personal representative, but no action has been taken by or for the member spouse, or his or her legal personal representative, under the governing rules of the plan to receive any other benefit that the member spouse, or his or her estate, is entitled to be paid as a result of the occurrence of the releasing event. (3) For this regulation, a releasing event is taken to have occurred in relation to a member spouse if: (a) the member spouse has retired; or (b) the member spouse has died; or (c) as a result of the member spouse's ill health (whether physical or mental), the member spouse: (i) has ceased to be gainfully employed (including if the member spouse has ceased temporarily to receive any gain or reward under a continuing arrangement for the member spouse to be gainfully employed); and (ii) is unlikely, because of the ill health, ever again to engage in gainful employment for which the member spouse is reasonably qualified by education, training or experience; or (d) the member spouse has turned 65; or (e) in the case of a member spouse whose employer has contributed to the member spouse's eligible superannuation plan in relation to the member spouse—the member spouse has ceased his or her employment with the employer. (4) In paragraph (3)(e): employer includes any associates, within the meaning of section 12 of the SIS Act, of the employer. 8 Meaning of payment phase For these Regulations, a superannuation interest (other than a small superannuation accounts interest) of a member spouse in an eligible superannuation plan is taken to be in the payment phase at a particular date if the superannuation interest is not in the growth phase at that date. 9 Meaning of partially vested accumulation interest (1) For these Regulations, an accumulation interest that a member spouse has as a member of an eligible superannuation plan is a partially vested accumulation interest if subregulation (2) or (3) applies in relation to the interest. (2) This subregulation applies in relation to the superannuation interest if the withdrawal benefit in relation to the member spouse at a particular date is less than the total amount notionally or actually allocated to the member spouse at that date, except if the withdrawal benefit is less than that notional or actual amount because of any of the following reasons: (a) the trustee of the plan has been assessed to be liable to pay superannuation contributions surcharge in respect of the member spouse, and the trustee has not debited the amount notionally or actually allocated to the member spouse in respect of that liability; (b) insurance costs have been charged against the member spouse's benefits in the plan; (c) any other fees, taxes or charges will be charged against the member spouse's benefits when the member spouse ceases to be a member of the plan. (3) This subregulation applies in relation to the superannuation interest if the benefits to which the member spouse is or may be entitled, on voluntarily ceasing to be a member of the eligible superannuation plan, may include an additional benefit that is calculated by reference to the amount that has been credited, under the governing rules of the plan, to the member spouse in respect of contributions that have been made by, or in respect of, the member spouse. 9A Meaning of percentage‑only interest (Act s 90XD, s 90YD) (1) Subject to subregulation (2), for the definitions of percentage‑only interest in sections 90XD and 90YD of the Act, each of the following superannuation interests is prescribed: (b) a superannuation interest in the scheme constituted by the Judges' Pensions Act 1953 (NSW); (c) a superannuation interest to which regulation 9B applies; (ca) a superannuation interest in the scheme constituted by the Judges (Pensions and Long Leave) Act 1957 (Qld); (cb) a superannuation interest in the scheme constituted by the Governors (Salary and Pensions) Act 2003 (Qld); (d) a superannuation interest in the scheme constituted by the Judges' Contributory Pensions Act 1968 (Tas); (e) a superannuation interest in the Parliamentary Retiring Benefits Fund continued, under regulation 50 of the Retirement Benefits (Parliamentary Superannuation) Regulations 2012 (Tas), as a subfund of the Retirement Benefits Fund; (f) a superannuation interest in a superannuation annuity. (2) A superannuation interest mentioned in paragraph (1)(ca), (d) or (e) is not a percentage‑only interest if, immediately before the commencement day of the paragraph in which the interest is mentioned: (a) either: (i) the interest is covered by a superannuation agreement or a flag lifting agreement that is in force and provides for a payment split; or (ii) the interest is an interest to which subsection 90XJ(5) or 90YN(5) of the Act applies; or (b) the interest is covered by a splitting order; or (c) the non‑member spouse has served a waiver notice on the trustee under section 90XZA or 90YZQ of the Act in respect of the interest. (3) Subregulation (2) applies only in relation to the agreement, order or notice. (4) In subregulation (2): commencement day, for a paragraph in which a superannuation interest is mentioned, means: (a) for paragraph (1)(ca)—the day on which that paragraph commenced; and (b) for paragraphs (1)(d) and (e)—2 May 2003. 9B Meaning of percentage‑only interest—parliament 70 category under the Deed (1) This regulation applies to a superannuation interest held by a person by belonging to the parliament 70 category under Chapter 9 of the Government Division Rules if: (a) the interest is held by a person who has received salary as a member of the Assembly for an aggregate period of less than 8 years; or (b) all of the following apply: (i) the interest is held by a person who has received salary as a member of the Assembly for an aggregate period of at least 8 years; (ii) after the person first began receiving salary as a member but before the person had completed an aggregate period of service of at least 8 years, the interest became subject to a payment split; (iii) subregulation (2) does not apply to the payment split; or (c) all of the following apply: (i) the interest is a percentage‑only interest under paragraph (b) or this paragraph; (ii) while the interest is a percentage‑only interest under either of those paragraphs, the interest becomes subject to a second or later payment split; (iii) subregulation (2) does not apply to at least 1 of the payment splits in relation to the interest. (2) This subregulation applies to a payment split if: (a) for a payment split under a superannuation agreement or flag lifting agreement—the agreement has been terminated or set aside; or (b) for a payment split under a splitting order—the order has been set aside; or (c) an amount has been paid under subsection 363(2) of the Participation Schedule or subsection 25G(2) of the repealed Act in relation to the entitlement under the applicable superannuation agreement, flag lifting agreement or splitting order; or (d) the person for whose benefit the applicable superannuation agreement, flag lifting agreement or splitting order was made has elected to be paid a lifetime pension under subsection 367(4) of the Participation Schedule or subsection 25K(4) of the repealed Act in relation to the entitlement under the agreement or order. (3) In this regulation: Assembly means the Legislative Assembly of Queensland. repealed Act means the Parliamentary Contributory Superannuation Act 1970 (Qld). 10 Meaning of trustee (Act s 90XD, s 90YD) (1) This regulation applies for paragraph (b) of the definitions of trustee in sections 90XD and 90YD of the Act. (2) Each of the following persons is identified as a trustee of the Judges' Pensions Act Scheme: (a) the General Manager of Fair Work Australia for a member of the Scheme who is: (i) the President (or a former President) of Fair Work Australia; or (ii) a Deputy President (or a former Deputy President) of Fair Work Australia who was a Presidential Member of the Australian Industrial Relations Commission; or (iii) a former Presidential Member of the Australian Industrial Relations Commission; or (iv) a spouse of a person mentioned in subparagraph (i), (ii), or (iii); (b) in relation to any other member of the Scheme—the Secretary of the Department of Finance and Deregulation. (3) The Parliamentary Retiring Allowances Trust established under the Parliamentary Contributory Superannuation Act 1948 is identified as the trustee of the scheme constituted by that Act. (4) An RSA provider that has accepted contributions to an RSA is identified as the trustee of that RSA. (5) The Commissioner of Taxation is identified as the trustee of an account within the meaning of the Small Superannuation Accounts Act 1995. (5A) An annuity provider that has entered into a contract with a person to provide a superannuation annuity to that person is identified as the trustee of that superannuation annuity. (5B) CSC is identified as the trustee of the scheme constituted by the Defence Force (Superannuation) (Productivity Benefit) Determination 1988 made under subsection 52(1) of the Defence Act 1903. (6) In this regulation: CSC has the meaning given by section 4 of the Governance of Australian Government Superannuation Schemes Act 2011. Presidential Member has the meaning given by section 4 of the Workplace Relations Act 1996. RSA provider has the same meaning as in the Retirement Savings Accounts Act 1997. 10A Meaning of unflaggable interest (Act s 90XD, s 90YD) For the definitions of unflaggable interest in sections 90XD and 90YD of the Act, a superannuation interest of a member spouse that is in the payment phase is prescribed. 11 Meaning of unsplittable interest (Act s 90XD, 90YD) (1) Subject to subregulation (2), for the definitions of unsplittable interest in sections 90XD and 90YD of the Act, a superannuation interest of a member spouse described in subregulation (1A) or (1B) is prescribed. Note: This regulation prescribes the kinds of superannuation interests that are unsplittable interests. An unsplittable interest cannot be the subject of a payment split under a superannuation agreement, a flag lifting agreement or a splitting order: see Parts VIIIB and VIIIC of the Act. (1A) For subregulation (1), the superannuation interest of the member spouse must be: (a) an interest other than one in respect of which the whole or remaining part of the benefits are being paid to the member spouse as: (i) a lifetime pension or fixed‑term pension that the member is no longer entitled to commute; or (ii) a lifetime annuity or fixed‑term annuity; and (b) an interest with a withdrawal benefit in relation to the member spouse of less than $5 000. (1B) For subregulation (1), the superannuation interest of the member spouse must be an interest in respect of which: (a) the whole or remaining part of the benefits are being paid to the member spouse as: (i) a lifetime pension or fixed‑term pension that the member is no longer entitled to commute; or (ii) a lifetime annuity or fixed‑term annuity; and (b) the amount of the annual benefit payable to the member is less than $2 000. (2) This regulation does not apply to any of the following superannuation interests: (a) a superannuation interest in the Judges' Pensions Act Scheme; (b) a superannuation interest in the scheme provided under the Judges' Pensions Act 1971 of South Australia; (c) a superannuation interest in the scheme constituted by the Parliamentary Contributory Superannuation Act 1948. (3) To avoid doubt, an interest that is not covered by this regulation is not an unsplittable interest only because payments in respect of that interest are not splittable payments. 11A Meaning of lifetime pension etc. To avoid doubt, for the purposes of these Regulations, a benefit in respect of a superannuation interest, or a component of a superannuation interest, of a member spouse in an eligible superannuation plan that is paid as a pension is not prevented from being a lifetime pension of the member spouse, or a pension payable for the life of a member spouse, merely because: (a) the benefit is paid upon the retirement of the member spouse (including, but not limited to, retirement on the basis of invalidity); and (b) under the governing rules of the plan, the payments may be varied (including by being reduced to nil), suspended or cancelled. Part 2—Payments that are not splittable payments Division 2.1—General 12 Payments to member spouse that are not splittable payments (Act s 90XE, s 90YG) (1) For subsections 90XE(2) and 90YG(2) of the Act, each of the following payments in respect of a superannuation interest of a member spouse is not a splittable payment: (a) a payment of benefits to the member spouse that is made following a determination, under subregulation 6.19A(1) of the SIS Regulations or subregulation 4.22A(1) of the RSA Regulations, that a condition of release of the benefits on a compassionate ground has been satisfied; (b) a payment to the member spouse that is made because the member spouse is taken to be in severe financial hardship; (c) a pension payment to the member spouse that is paid on the basis of temporary incapacity (within the meaning of regulation 6.01 of the SIS Regulations), other than a payment that is: (i) one of a series of payments of that kind that have been paid to the member spouse for a period of at least 2 years and is made more than 2 years after the first such payment of that series; or (ii) a payment to which paragraph (ea) applies; or (iii) a payment from a lifetime pension; (d) if the superannuation interest is in a superannuation fund that is not a regulated superannuation fund—a payment to the member spouse that is made on compassionate grounds as provided by the governing rules of the plan; (da) if the superannuation interest is in a superannuation annuity that is a deferred annuity—a payment to the member spouse that is made on compassionate grounds under a term of the annuity; (e) if the superannuation interest is in the superannuation scheme constituted by the Superannuation Act 1976 or the Superannuation Act 1990—a payment to the member spouse that is made: (i) during any period in which the member spouse's health is being assessed for the purpose of determining the member spouse's eligibility for payment on the ground that the member spouse is totally and permanently incapacitated; or (ii) because the member spouse's salary or other remuneration, or hours of employment, have been reduced because of ill health; (ea) if the superannuation interest is in the superannuation scheme continued in existence by the Superannuation (State Public Sector) Act 1990 (Qld)—a pension payment to the member spouse that is: (i) an income protection benefit paid under section 50 of the Participation Schedule; or (ii) an incapacity benefit to which the member spouse is entitled under paragraph 136(b) of the Participation Schedule; or (iii) an incapacity pension to which the member spouse is entitled under paragraph 199(b) of the Participation Schedule; Note: In 2022, the scheme continued in existence by the Superannuation (State Public Sector) Act 1990 (Qld) was known as the Australian Retirement Trust. (f) if the superannuation interest is in an account within the meaning of the Small Superannuation Accounts Act 1995—a payment to the member spouse from the account, if: (i) in accordance with a superannuation agreement, flag lifting agreement or splitting order that has been served on the trustee of the account, the trustee has opened a separate account under the Small Superannuation Accounts Act 1995 for the non‑member spouse, and has transferred an amount from the member spouse's account to that separate account; and (ii) but for the operation of this paragraph, the non‑member spouse would have been entitled to be paid an amount in respect of the payment. Note: This regulation prescribes the kinds of payments that are not splittable payments. Generally, any of these kinds of payments in respect of a member spouse's superannuation interest will not be a splittable payment (see subsection 90XE(2) or 90YG(2) of the Act). (2) In this regulation: severe financial hardship has the meaning given by subregulation 6.01(5) of the SIS Regulations. 13 Payments after death of member spouse that are not splittable payments (Act s 90XE, s 90YG) (1) For subsections 90XE(2) and 90YG(2) of the Act, each of the following payments made after the death of a member spouse in respect of a superannuation interest of the member spouse is not a splittable payment: (a) a payment to a reversionary beneficiary who is a child in relation to the member spouse if, at the date of the payment, the child has not turned 18; (b) a payment to a reversionary beneficiary who is a child in relation to the member spouse if: (i) immediately before the death of the member spouse, the child was dependent on the member spouse; and (ii) at the date of the payment, the child has turned 18; and (iii) the payment is made to enable the child to complete his or her education or, if the child has special needs because of a physical or intellectual disability, to provide maintenance and meet expenses in respect of those needs; (c) a payment to a reversionary beneficiary for the benefit of a child in relation to the member spouse, if the requirements of paragraph (a) or (b) are satisfied in relation to the child and the payment. (2) In this regulation: child, in relation to a member spouse who has a superannuation interest in an eligible superannuation plan, means: (a) a child of the member spouse, within the meaning of section 60F of the Act; or (b) a child of the member spouse under the governing rules of the plan; or (c) a child who has been determined by the trustee of the plan, under the governing rules of the plan, to be a child of the member spouse; or (d) a child for whom the member spouse had, at the time of his or her death, responsibility for the day‑to‑day care, welfare and development under an order made under Part VII of the Act or Part 5 of the Family Court Act 1997 of Western Australia, or under a corresponding law of a foreign country. Division 2.2—Particular circumstances in which payments are not splittable payments 14 Circumstances in which payments are not splittable payments A payment in respect of a superannuation interest of a member spouse, being a superannuation interest to which a particular superannuation agreement, flag lifting agreement or splitting order applies, is not a splittable payment for the purposes of applying Part VIIIB or VIIIC of the Act to that agreement or order, if the payment is made after the requirements of this Division have been satisfied in relation to the non‑member spouse's entitlement under the agreement or order in respect of the superannuation interest. 14A Meaning of certain expressions for Division 2.2 For this Division: (a) relevant condition of release, in relation to a superannuation interest, means: (i) if the superannuation interest is in a regulated superannuation fund, an exempt public sector superannuation scheme—a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 1 to the SIS Regulations; and (ii) if the superannuation interest is in an approved deposit fund—a condition of release mentioned in item 201, 202, 203 or 206 of Schedule 1 to the SIS Regulations; and (iii) if the superannuation interest is in an RSA—a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 2 to the RSA Regulations; and (iv) if the superannuation interest is in a superannuation annuity—a condition of release mentioned in item 201, 202, 203 or 206 of Schedule 1 to the SIS Regulations; and (b) a non‑member spouse satisfies a relevant condition of release if the event specified in the condition has occurred in relation to the non‑member spouse; and (c) in the application of item 101, 103, 201 or 203 of Schedule 1 to the SIS Regulations to a non‑member spouse, a reference in: (i) the definition of permanent incapacity in subregulation 6.01(2) of the SIS Regulations; and (ii) subregulation 6.01(7) of the SIS Regulations; to a member is taken to be a reference to the non‑member spouse; and (d) in the application of item 101 or 103 of Schedule 2 to the RSA Regulations to a non‑member spouse, a reference in: (i) the definition of permanent incapacity in subregulation 4.01(2) of the RSA Regulations; and (ii) subregulation 4.01(4) of the RSA Regulations; to an RSA holder is taken to be a reference to the non‑member spouse. 14F New interest created or amount transferred or rolled over or paid, under SIS Regulations or RSA Regulations, in satisfaction of non‑member spouse's entitlement (1) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest that is not a percentage‑only interest if the requirements of subregulation (2) or (3) are satisfied. (2) The requirements of this subregulation are satisfied if the trustee of the relevant eligible superannuation plan has, under the payment split provisions of the SIS Regulations, done any of the following things: (a) created a new interest in the plan for the non‑member spouse; (b) transferred or rolled over an amount equal to the value of the benefit that the non‑member spouse would be required to have if a new interest had been created for the non‑member spouse under the payment split provisions of the SIS Regulations; (c) paid to the non‑member spouse the amount to which he or she is entitled in respect of the superannuation interest at the time of the payment. (3) The requirements of this subregulation are satisfied if the trustee of the relevant eligible superannuation plan has, under the payment split provisions of the RSA Regulations, done any of the following things: (a) opened a new RSA for the non‑member spouse; (b) transferred or rolled over an amount equal to the value that the non‑member spouse would be required to have if a new RSA had been opened for the non‑member spouse under the payment split provisions of the RSA Regulations; (c) paid to the non‑member spouse an amount that is at least the amount to which the non‑member spouse is entitled in respect of the superannuation interest at the time of the payment. (4) In this regulation: payment split provisions of the RSA Regulations means the provisions of the RSA Regulations (other than Division 4A.4) dealing with superannuation interests that are subject to a payment split. payment split provisions of the SIS Regulations means the provisions of the SIS Regulations (other than Division 7A.3) dealing with superannuation interests that are subject to a payment split. 14G New interest created or amount transferred or rolled over or paid by trustee (other than under regulation 14F), or separate entitlement arising, in satisfaction of non‑member spouse's entitlement under agreement or order (1) This regulation applies to a superannuation interest (including an interest in respect of which benefits are payable as an allocated pension or a market linked pension) if the interest: (a) is not a percentage‑only interest; and (b) is in a superannuation fund or an approved deposit fund. (2) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4), (5), (5A), (6) or (6A) are satisfied. (3) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is not a defined benefit interest in a self managed superannuation fund; and (b) the trustee of the relevant eligible superannuation plan has, in respect of the non‑member spouse's entitlement under the agreement or order and under the governing rules of the plan, done either of the following things: (i) created a new interest in the plan for the non‑member spouse with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the new interest is created; (ii) transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over. (4) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is a defined benefit interest in a self managed superannuation fund; and (b) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order and under the governing rules of the plan, transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over. (5) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund; and (b) the non‑member spouse has satisfied a relevant condition of release in relation to the interest; and (c) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment. (5A) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund; and (b) at the operative time in relation to the agreement or order, the member spouse was being paid a pension in respect of the interest; and (c) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment. (6) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is in a superannuation fund that is not a regulated superannuation fund or an exempt public sector superannuation scheme; and (b) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment. (6A) Subject to subregulation (7A), the requirements of this subregulation are satisfied if: (a) the interest is in a public sector superannuation scheme (the original scheme); and (b) at or after the operative time in relation to the agreement or order, and under the governing rules of the original scheme or under the governing rules of another public sector superannuation scheme, a separate entitlement to benefits has arisen for the non‑member spouse in respect of the non‑member spouse's entitlement under the agreement or order, being a separate entitlement with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the separate entitlement arose. (7) Subregulations (3), (4), (5), (5A) and (6) do not apply if: (a) the superannuation interest is a defined benefit interest; and (b) the governing rules of the plan provide for the reduction of the benefit payable to any other member of the plan (other than the member spouse or a reversionary beneficiary of the member spouse) as a result of the creation of the new interest for the non‑member spouse, transfer or rollover of an amount to be held for the benefit of the non‑member spouse, or payment of the amount to the non‑member spouse. (7A) Subregulation (6A) does not apply if: (a) the superannuation interest is a defined benefit interest; and (b) the governing rules of the original scheme provide for the reduction of the benefit payable to any other member of the scheme (other than the member spouse or a reversionary beneficiary of the member spouse) as a result of the non‑member spouse's separate entitlement. (8) For this regulation, the value in respect of a non‑member spouse's entitlement in respect of a superannuation interest at the time (the termination time) when the trustee carries out an action described in any of subregulations (3) to (6), or a separate entitlement arises for the non‑member spouse as described in subregulation (6A), is: (a) if a base amount applies in relation to the interest—the value under subregulation (9) or (10); or (b) if, under subparagraph 90XJ(1)(c)(iii) or 90YN(1)(c)(iii), or paragraph 90XT(1)(b) or 90YY(1)(b), of the Act, a specified percentage is to apply to all splittable payments in respect of the interest—the value under subregulation (11). (9) For paragraph (8)(a), if: (a) the termination time occurs before the first payment that, except for the operation of this regulation, would be a splittable payment becomes payable in respect of the superannuation interest; or (b) paragraph (a) does not apply and one or more payments that, except for the operation of this regulation, would be splittable payments become payable in respect of the superannuation interest after the termination time, and the amount of the first such payment would be more than: (i) if an adjusted base amount is applicable to the non‑member spouse at the termination time—the sum of the adjusted base amount and the amount of any fees payable by the non‑member spouse under regulation 59; or (ii) in any other case—the sum of the base amount applicable to the non‑member spouse at the termination time and the amount of any fees payable by the non‑member spouse under regulation 59; the value at the termination time of the non‑member spouse's entitlement in respect of the interest is, as the case requires: (c) the base amount specified by, or calculated in accordance with a method specified by, the relevant agreement or order; or (d) the base amount allocated to the non‑member spouse under subsection 90XT(4) or 90YY(5) of the Act; or (e) the adjusted base amount applicable to the non‑member spouse at the termination time. (10) For paragraph (8)(a), if paragraph (9)(a) or (b) does not apply in relation to the superannuation interest, the value at the termination time of the non‑member spouse's entitlement in respect of the interest is: where: SP(prop) is the proportion of each second and subsequent splittable payment that the non‑member spouse would be entitled to be paid under Part 6. V is: (a) for a superannuation interest in a self managed superannuation fund—the value of the interest at the termination time, determined by the method that the court would consider appropriate if it were determining the value of the interest under paragraph 90XT(2)(b) or 90YY(2)(b) (as the case may be) of the Act; and (b) for a superannuation interest other than an interest in a self managed superannuation fund—the value of the superannuation interest, being the amount in relation to the interest at the termination time, determined in accordance with the relevant method set out in Division 5.2, as if references in that Division to 'the relevant date' were references to 'the termination time'. F is the amount of any fees payable by the non‑member spouse under regulation 59. (11) For paragraph (8)(b), the value at the termination time of the non‑member spouse's entitlement in respect of the superannuation interest is: (a) if the entitlement is in respect of an interest that is not an accumulation interest (other than a partially vested accumulation interest) or an interest in a self managed superannuation fund—the amount in relation to the interest at the termination time that a court would determine in accordance with Part 5, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or (b) if the entitlement is in respect of an accumulation interest (other than a partially vested accumulation interest or an interest in a self managed superannuation fund)—the amount in relation to the interest at the termination time that a court would determine in accordance with regulation 28 and subregulation 31(2A), multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or (c) if the entitlement is in respect of an interest in a self managed superannuation fund—the value of the interest at the termination time, determined by the method that the court would consider appropriate if it were determining the value of the interest under paragraph 90XT(2)(b) or 90YY(2)(b) (as the case may be) of the Act, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59. (12) For the avoidance of doubt, nothing in this regulation requires the trustee of an eligible superannuation plan mentioned in paragraph (1)(b) to do any of the things mentioned in subregulation (3), (4), (5), (5A) or (6). 14H Amount paid by member spouse in satisfaction of non‑member spouse's entitlement under agreement or order (1) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (2) or (3) are satisfied. (2) The requirements of this subregulation are satisfied if: (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme, an approved deposit fund, an RSA or a superannuation annuity; and (b) either of the following has happened: (i) the non‑member spouse has satisfied a relevant condition of release in relation to the interest, and the member spouse has paid to the non‑member spouse an amount in satisfaction of the non‑member spouse's entitlement in respect of the superannuation interest; (ii) the non‑member spouse has not satisfied a relevant condition of release in relation to the interest, and the member spouse has paid to another regulated superannuation fund, exempt public sector superannuation scheme or an RSA, an amount, to be held for the benefit of the non‑member spouse, in satisfaction of the non‑member spouse's entitlement in respect of the superannuation interest; and (c) the interest was in the growth phase at the time of the payment; and (d) after the payment mentioned in paragraph (b), a notice in accordance with Form 1 in Schedule 1, signed by the non‑member spouse in respect of the superannuation interest, has been served on the trustee of the plan. (3) The requirements of this subregulation are satisfied if: (a) the interest is in a superannuation fund that is not a regulated superannuation fund or an exempt public sector superannuation scheme; and (b) the member spouse has paid to the non‑member spouse an amount in satisfaction of the non‑member spouse's entitlement in respect of the superannuation interest; and (c) the interest was in the growth phase at the time of the payment; and (d) after the payment, a notice in accordance with Form 1 in Schedule 1, signed by the non‑member spouse in respect of the superannuation interest, has been served on the trustee of the plan. 14N New interest created or amount transferred or rolled over or paid by trustee, or separate entitlement arising, in satisfaction of non‑member spouse's entitlement under agreement or order (1) This regulation applies to a superannuation interest that is a percentage‑only interest if the interest is in a superannuation fund or an approved deposit fund. (2) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4), (4A), (5) or (5A) are satisfied. (3) Subject to subregulation (6), the requirements of this subregulation are satisfied if: (a) the trustee of the relevant eligible superannuation plan has, in respect of the non‑member spouse's entitlement under the agreement or order and under the governing rules of the plan, done either of the following things: (i) created a new interest in the plan for the non‑member spouse with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the new interest is created; (ii) transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over; and (b) the interest was in the payment phase at the time the thing was done. (4) Subject to subregulation (6), the requirements of this subregulation are satisfied if: (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund; and (b) the non‑member spouse has satisfied a relevant condition of release in relation to the interest; and (c) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount with a value of at least the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment; and (d) the interest was in the payment phase at the time of the payment. (4A) Subject to subregulation (6), the requirements of this subregulation are satisfied if: (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund; and (b) at the operative time in relation to the agreement or order, the member spouse was being paid a pension in respect of the interest; and (c) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount with a value of at least the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment. (5) Subject to subregulation (6), the requirements of this subregulation are satisfied if: (a) the interest is in a superannuation fund that is not a regulated superannuation fund or an exempt public sector superannuation scheme; and (b) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount with a value of at least the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment; and (c) the interest was in the payment phase at the time of the payment. (5A) Subject to subregulation (6A), the requirements of this subregulation are satisfied if: (a) the interest is in a public sector superannuation scheme (the original scheme); and (b) at or after the operative time in relation to the agreement or order, and under the governing rules of the original scheme or under the governing rules of another public sector superannuation scheme, a separate entitlement to benefits has arisen for the non‑member spouse in respect of the non‑member spouse's entitlement under the agreement or order, being a separate entitlement with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the separate entitlement arose; and (c) the interest was in the payment phase at the time the separate entitlement arose. (6) Subregulations (3), (4), (4A) and (5) do not apply if: (a) the superannuation interest is a defined benefit interest; and (b) the governing rules of the plan provide for the reduction of the benefit payable to any other member of the plan (other than the member spouse or reversionary beneficiary of the member spouse) as a result of the creation of the new interest for the non‑member spouse, transfer or rollover of an amount to be held for the benefit of the non‑member spouse, or payment of the amount to the non‑member spouse. (6A) Subregulation (5A) does not apply if: (a) the superannuation interest is a defined benefit interest; and (b) the governing rules of the original scheme provide for the reduction of the benefit payable to any other member of the scheme (other than the member spouse or a reversionary beneficiary of the member spouse) as a result of the non‑member spouse's separate entitlement. (7) For this regulation, the value at a particular time of the non‑member spouse's entitlement in relation to the superannuation interest is: (a) the value at that time worked out in accordance with Part 2 of Schedule 1A, if: (i) the superannuation agreement or flag lifting agreement mentioned in subregulation (2) identified the percentage that was to apply for subparagraph 90XJ(1)(b)(i) or 90YN(1)(b)(i) (as the case may be) of the Act; and (ii) the splitting order mentioned in subregulation (2) was made under paragraph 90XT(1)(c) or 90YY(1)(c) of the Act; or (b) the value at that time worked out in accordance with Part 3 of Schedule 1A, if: (i) the superannuation agreement or flag lifting agreement mentioned in subregulation (2) identified a percentage that was to apply for subparagraph 90XJ(1)(b)(ii) or 90YN(1)(b)(ii) (as the case may be) of the Act; and (ii) the splitting order mentioned in subregulation (2) was made under paragraph 90XT(1)(b) or 90YY(1)(b) of the Act. (8) For the avoidance of doubt, nothing in this regulation requires the trustee of an eligible superannuation plan mentioned in subregulation (1) to do any of the things mentioned in subregulation (3), (4), (4A) or (5). 14P New deferred annuity established or amount transferred or rolled over or paid by trustee of deferred annuity in satisfaction of non‑member spouse's entitlement under agreement or order (1) This regulation applies to a superannuation interest that is a percentage‑only interest if the interest is in a superannuation annuity that is a deferred annuity. (2) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4), (5) or (6) are satisfied. (3) The requirements of this subregulation are satisfied if: (a) the non‑member spouse has satisfied a relevant condition of release in relation to the interest; and (b) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment; and (c) the interest is in the growth phase at the time of the payment. (4) The requirements of this subregulation are satisfied if: (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, transferred or rolled over to a superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over; and (b) the interest is in the growth phase at the amount is transferred or rolled over. (5) The requirements of this subregulation are satisfied if: (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, established a new deferred annuity that: (i) provides for the payment of benefits to the non‑member spouse, commencing no earlier than the time when, if the new deferred annuity were taken to be an approved deposit fund for the purposes of Part 6 of the SIS Regulations, that Part would permit or require the payment of benefits from the approved deposit fund; and (ii) has a value equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the new deferred annuity is established; and (b) the interest is in the growth phase at the time the new deferred annuity is established. (6) The requirements of this subregulation are satisfied if: (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, established a new annuity for the benefit of the non‑member spouse that: (i) is a non‑commutable income stream (within the meaning of the SIS Regulations); and (ii) has a value equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the new annuity is established; and (b) the interest is in the growth phase at the time the new annuity is established. (7) For subregulation (5): (a) the trustee of the superannuation annuity is taken to have established a new deferred annuity for the benefit of the non‑member spouse if the trustee has entered into an agreement with the non‑member spouse to provide a deferred annuity for the benefit of the non‑member spouse; and (b) the new deferred annuity is taken to have been established on the date on which the agreement between the trustee and the non‑member spouse is entered into. (8) For subregulation (6): (a) the trustee of the superannuation annuity is taken to have established a new annuity (being an annuity that is a non‑commutable income stream) for the benefit of the non‑member spouse if either of the following things have occurred: (i) the trustee has entered into an agreement with the non‑member spouse to provide, for his or her benefit, an annuity that is a non‑commutable income stream; (ii) the trustee has paid to another annuity provider an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the payment is made, for the purpose of that annuity provider providing, for the benefit of the non‑member spouse, an annuity that is a non‑commutable income stream; and (b) the new annuity is taken to have been established: (i) if subparagraph (a)(i) applies—on the date on which the agreement between the trustee and the non‑member spouse is entered into; or (ii) if subparagraph (a)(ii) applies—on the date on which the amount mentioned in subparagraph (a)(ii) is paid to the annuity provider by the trustee. (9) For this regulation, the value in respect of a non‑member spouse's entitlement in respect of a superannuation interest at the time (the termination time) when the trustee carries out an action described in subregulation (3), (4), (5) or (6) is the account balance of the superannuation annuity at the termination time, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59. (10) For the avoidance of doubt, nothing in this regulation requires the trustee of a superannuation annuity mentioned in subregulation (1) to do any of the things mentioned in subregulation (3), (4), (5) or (6). 14Q New annuity established or amount transferred or rolled over or paid by trustee of a superannuation annuity (other than under regulation 14P) in satisfaction of non‑member spouse's entitlement under agreement or order (1) This regulation applies to a superannuation interest that is a percentage‑only interest if the interest is in a superannuation annuity that is one of the following: (a) an allocated annuity; (b) a market linked annuity; (c) a fixed term annuity; (d) a lifetime annuity, including a lifetime annuity that is payable for the lives of more than one person. (2) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4) or (5) are satisfied. (3) The requirements of this subregulation are satisfied if: (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment; and (b) the interest: (i) was in the payment phase at the operative time in relation to the agreement or order; and (ii) is in the payment phase at the time of the payment. (4) The requirements of this subregulation are satisfied if: (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, transferred or rolled over to a superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over; and (b) the interest is in the payment phase at the time the amount is transferred or rolled over. (5) The requirements of this subregulation are satisfied if: (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, established any of the following new annuities for the benefit of the non‑member spouse: (i) an allocated annuity; (ii) a market linked annuity; (iii) a fixed term annuity; (iv) a lifetime annuity; and (b) the new annuity has a value equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the new annuity is established; and (c) the interest is in the payment phase at the time the new annuity is established. (6) For subregulation (5): (a) the trustee of the superannuation annuity is taken to have established a new annuity for the benefit of the non‑member spouse if either of the following things have occurred: (i) the trustee has entered into an agreement with the non‑member spouse to provide, for his or her benefit, an annuity that is a type of annuity mentioned in subparagraph (5)(a)(i), (ii), (iii) or (iv); (ii) the trustee has paid to another annuity provider an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the payment is made, for the purpose of that annuity provider providing, for the benefit of the non‑member spouse, an annuity that is a type of annuity mentioned in subparagraph (5)(a)(i), (ii), (iii) or (iv); and (b) the new annuity is taken to have been established: (i) if subparagraph (a)(i) applies—on the date on which the agreement between the trustee and the non‑member spouse is entered into; or (ii) if subparagraph (a)(ii) applies—on the date on which the amount mentioned in subparagraph (a)(ii) is paid to the annuity provider by the trustee. (7) For this regulation, the value in respect of non‑member spouse's entitlement in respect of a superannuation interest at the time (the termination time) when the trustee carries out an action described in any of subregulations (3) to (5) is: (a) if the superannuation interest is in a superannuation annuity that is an allocated annuity—the account balance of the allocated annuity at the termination time, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or (b) if the superannuation interest is in a superannuation annuity that is a market linked annuity—the account balance of the market linked annuity at the termination time, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or (c) if the superannuation interest is in a superannuation annuity that is a lifetime annuity—the value of the interest at the termination time calculated in accordance with Schedule 4A, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or (d) if the superannuation interest is in a superannuation annuity that is a fixed term annuity—the value of the interest at the termination time calculated in accordance with Schedule 5A, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59. (8) For the avoidance of doubt, nothing in this regulation requires the trustee of a superannuation annuity mentioned in subregulation (1) to do any of the things mentioned in subregulation (3), (4) or (5). Part 3—Payment splitting or flagging by agreement Division 3.1—Superannuation interest that is not a percentage‑only interest 15 Application of Division 3.1 (Act s 90XJ, s 90YN) This Division applies to a payment split under a superannuation agreement or flag lifting agreement in relation to a superannuation interest of a member spouse if: (a) the interest is not a percentage‑only interest; and (b) the agreement specifies: (i) an amount as a base amount in relation to the interest for the purposes of Part VIIIB or VIIIC of the Act; or (ii) a method by which a base amount can be calculated at the time when the agreement is served on the trustee under section 90XI or 90YM of the Act. 16 Entitlement of non‑member spouse—superannuation interest not in existence or in growth phase (1) This regulation applies if the superannuation interest: (a) is not a small superannuation accounts interest; and (b) is not in existence at the date of the agreement, or is in the growth phase at the date of the agreement and is not in the payment phase at the date when the agreement is served on the trustee under section 90XI or 90YM of the Act. (2) The amount (if any) that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is the amount calculated in accordance with Division 6.2. 17 Entitlement of non‑member spouse—superannuation interest in payment phase (1) This regulation applies if the superannuation interest: (a) is not a small superannuation accounts interest; and (b) is in the payment phase at the date of the agreement or the date when the agreement is served on the trustee under section 90XI or 90YM of the Act. (2) The amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is the amount calculated in accordance with Division 6.3. Division 3.2—Superannuation interest that is a percentage‑only interest 18 Application of Division 3.2 (Act s 90XJ, s 90YN) This Division applies to a payment split under a superannuation agreement or flag lifting agreement in relation to a superannuation interest of a member spouse if: (a) the interest is a percentage‑only interest; and (b) the agreement specifies a percentage that is to apply for the purposes of subparagraph 90XJ(1)(b)(i) or 90YN(1)(b)(i) (as the case may be) of the Act. 19 Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest (other than an interest in a superannuation annuity) The amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of a superannuation interest that the member spouse has in an eligible superannuation plan (other than a superannuation annuity) is: where: Accrued benefit multiple at separation is the member spouse's accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the member spouse and non‑member spouse separated or, if there have been 2 or more separations, at the date of the most recent separation. Accrued benefit multiple at payment is the member spouse's accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the splittable payment becomes payable in respect of the superannuation interest. X is the percentage specified in the agreement. SP is the amount of the splittable payment. 19A Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest in a superannuation annuity The amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of a superannuation interest that the member spouse has in a superannuation annuity is the amount of the splittable payment multiplied by the percentage specified in the relevant superannuation agreement or flag‑splitting agreement. Division 3.3—Miscellaneous 20 Superannuation interests in excess of low rate cap amount—total withdrawal value (Act s 90XQ, 90YV) For subsections 90XQ(3) and 90YV(3) of the Act, the total withdrawal value for all the superannuation interests of a member spouse at a particular time is the amount determined by adding together the withdrawal benefits for each superannuation interest the member spouse has in any eligible superannuation plan at that time. Part 4—Payment splitting or flagging by court order Division 4.1—Superannuation interest that is not a percentage‑only interest 21 Application of Division 4.1 (Act s 90XT, s 90YY) This Division applies to a payment split under a splitting order in relation to a superannuation interest of a member spouse that is not a percentage‑only interest. 22 Determination of amount in relation to certain superannuation interests (1) Subject to subregulation (2), the court must determine an amount in relation to the superannuation interest at the relevant date: (a) if the interest is in the growth phase at the relevant date—in accordance with Division 5.1; and (b) if the interest is in the payment phase at the relevant date—in accordance with Division 5.2. (2) Subregulation (1) does not apply if the superannuation interest is: (a) a small superannuation accounts interest; or (b) an interest in a self managed superannuation fund; or (c) an interest in a regulated superannuation fund in relation to which the trustee of the fund has, under section 1017B of the Corporations Act 2001 (as modified, if necessary, as set out in Part 10 of Schedule 10A to the Corporations Regulations 2001), given notice to each member of the fund that the fund is to be reconstructed or terminated. Note 1: See regulation 24 in relation to the determination of an amount in relation to a small superannuation accounts interest. Note 2: The court must determine an amount in relation to a superannuation interest of the kind mentioned in paragraph (2)(b) or (c) by such method as it considers appropriate—see paragraphs 90XT(2)(b) and 90YY(2)(b) of the Act. 23 Entitlement of non‑member spouse—interests other than small superannuation accounts interests (1) This regulation applies if: (a) the splitting order is made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act; and (b) the superannuation interest in respect of which the order is made is not a small superannuation accounts interest. (2) The amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of the superannuation interest is: (a) if the interest is in the growth phase at the date of the splitting order—the amount calculated in accordance with Division 6.2; and (b) if the interest is in the payment phase at the date of the splitting order—the amount calculated in accordance with Division 6.3. 24 Determination of value of small superannuation accounts interests (1) This regulation applies if the superannuation interest is a small superannuation accounts interest. (2) The amount in relation to the interest that the court must determine is the account balance at the relevant date that the Commissioner of Taxation would be required to transfer to a specified RSA, or to the trustee of a complying fund, for the benefit of the member spouse, if the Commissioner had received a transfer request from the member spouse under section 61 of the Small Superannuation Accounts Act 1995. (3) In this regulation: complying fund means a fund that passes the compliance test in subsection 61(2) of the Small Superannuation Accounts Act 1995. Division 4.2—Superannuation interest that is a percentage‑only interest 25 Application of Division 4.2 (Act s 90XT, s 90YY) This Division applies to a payment split under a splitting order in relation to a superannuation interest of a member spouse that is a percentage‑only interest. 26 Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest (other than an interest in a superannuation annuity) The amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of a superannuation interest that the member spouse has in an eligible superannuation plan (other than a superannuation annuity) is: where: Accrued benefit multiple at separation is the member spouse's accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the member spouse and non‑member spouse separated or, if there have been 2 or more separations, at the date of the most recent separation. Accrued benefit multiple at payment is the member spouse's accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the splittable payment becomes payable in respect of the superannuation interest. X is the percentage specified in the splitting order. SP is the amount of the splittable payment. 26A Entitlement of non‑member spouse—splittable payment payable in respect of superannuation interest in a superannuation annuity The amount that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of a superannuation interest that the member spouse has as a member of a superannuation annuity is the amount of the splittable payment multiplied by the percentage specified in the splitting order. Part 5—Determination of amount in relation to certain superannuation interests Division 5.1—Superannuation interest in growth phase at relevant date 27 Application of Division 5.1 (Act s 90XT, s 90YY) For paragraphs 90XT(2)(a) and 90YY(2)(a) of the Act and paragraph 22(1)(a) of these Regulations, this Division sets out the method for determining an amount in relation to a superannuation interest of a member spouse at the relevant date if the interest: (a) is not a percentage‑only interest; and (b) is in the growth phase at the relevant date. Note: This Division does not apply to a superannuation interest of a kind mentioned in subregulation 22(2). 28 Method for determining amount in relation to a superannuation interest—general (1) The method for determining an amount in relation to the superannuation interest at the relevant date is as follows: Step 1 Determine the gross value of the superannuation interest at the relevant date. Step 2 Deduct from the amount determined under Step 1 any amount payable under a payment split that applies to a splittable payment in respect of the superannuation interest and has an operative time that is before the relevant date. Step 3 Deduct from the amount determined under Step 2: (a) if the superannuation interest is a defined benefit interest in a superannuation fund that is not a constitutionally protected fund—the amount (if any) of any surcharge debt of the member spouse as stated in the most recent member information statement provided by the fund to the member spouse before the relevant date; or (b) if the superannuation interest is in a superannuation fund that is a constitutionally protected fund—the amount (if any) stated in the surcharge debt account maintained for the member spouse by the Commissioner of Taxation at the relevant date. The resulting amount is the amount in relation to the superannuation interest at the relevant date. (2) For Step 1 of the table in subregulation (1), the gross value of the superannuation interest at the relevant date is the gross value of the interest as determined in accordance with the regulation in this Division that applies to the interest. 29 Method for determining gross value—defined benefit interest (1) If the whole of the superannuation interest is a defined benefit interest, the gross value at the relevant date of the interest is to be determined in accordance with this regulation. (2) If: (a) under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of the interest; and (b) evidence is before the court in the relevant proceeding of the contents of a statement issued by the trustee of the plan in which the interest is held, being a statement that states the gross value of the interest determined in accordance with the approved method or factors; the gross value of the interest at the relevant date is the value of the interest stated in the statement. (3) If: (a) the Minister has not approved, under regulation 38, a method or factors to be used to determine the gross value of the interest; and (b) evidence is before the court in the relevant proceeding of the contents of a statement issued by the trustee of the plan in which the interest is held, being a statement that states the value of the interest determined in accordance with the method set out in Schedule 2; the gross value of the interest at the relevant date is the value of the interest stated in the statement. (4) If no evidence is before the court in the relevant proceeding of the contents of a statement mentioned in paragraph (2)(b) or (3)(b), the gross value at the relevant date of the interest is to be determined using: (a) if, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of the interest—the approved method or factors; or (b) in any other case—the method set out in Schedule 2. 30 Approval of retirement age (1) For the purpose of determining the gross value of a defined benefit interest in accordance with the method set out in Schedule 2 or a method approved under regulation 38, the Minister may approve, in writing, as the retirement age for all members of the eligible superannuation plan in which the interest is held, or an identifiable class of members of the plan, an age other than: (a) the retirement age specified in the governing rules of the plan; or (b) the age of 65 years. (2) An approval by the Minister under subregulation (1) is a legislative instrument. 31 Method for determining gross value—accumulation interest (other than a partially vested accumulation interest) (1) If the whole of the superannuation interest is an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined in accordance with this regulation. (2) Subject to subregulation (2B), if: (a) a member information statement stating the value of the interest at the relevant date has been provided to the member spouse; and (b) evidence of the contents of the statement is before the court in the relevant proceeding; the gross value at the relevant date of the interest is the value of the interest stated in the statement. (2A) If: (a) a statement has been issued by the trustee of the plan in which the interest is held, being a statement that states the value of the benefits (before any taxes or other charges have been deducted) that would have been payable in respect of the interest at the relevant date if the member spouse had voluntarily ceased to be a member of the plan on that date; and (b) evidence of the contents of the statement is before the court in the relevant proceeding; the gross value at the relevant date of the interest is the value of the interest stated in the statement. (2B) If: (a) evidence of the contents of a member information statement mentioned in subregulation (2) and a statement of the kind mentioned in subregulation (2A) is before the court in the relevant proceeding; and (b) the value of the interest stated in each statement is not the same; the gross value at the relevant date of the interest is the value of the interest stated in the statement mentioned in subregulation (2A). (3) If subregulation (2) or (2A) does not apply, the gross value of the interest at the relevant date is: where: V1 is the sum of: (a) the value of the interest at the first valuation date; and (b) the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan) in the period between the first valuation date and the relevant date (excluding both those dates), less the value of any partial payment of benefits to the member made in that period. V2 is the sum of: (a) the value of the interest at the second valuation date; and (b) the value of any partial payment of benefits made to the member in the period beginning on the day after the relevant date and ending at the end of the second valuation date, less the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan), and any interest earned on those benefits, in that period. X is the number of days in the period between the first valuation date and the relevant date (excluding both those dates). D is the number of days in the period beginning on the day after the first valuation date and ending at the end of the second valuation date. (4) For the purpose of determining the gross value of a member spouse's interest at the relevant date under subregulation (3): (a) if, in relation to the interest, evidence of the contents of one member information statement only is before the court in the relevant proceeding, and the relevant date is after the valuation date stated in that statement: (i) the first valuation date is the valuation date stated in that statement; and (ii) the value of the interest at the first valuation date is the value of the interest stated in that statement; and (iii) the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and (iv) the value of the interest at the second valuation date is the value of the interest at that date; and (b) if, in relation to the interest, evidence of the contents of 2 member information statements is before the court in the relevant proceeding, and the relevant date is between the valuation date stated in one of those statements (the first statement) and the valuation date stated in the other statement (the second statement): (i) the first valuation date is the valuation date stated in the first statement; and (ii) the value of the interest at the first valuation date is the value of the interest stated in the first statement; and (iii) the second valuation date is the valuation date stated in the second statement; and (iv) the value of the interest at the second valuation date is the value of the interest stated in the second statement; and (c) if, in relation to the interest, evidence of the contents of one member information statement only is before the court in the relevant proceeding, and the relevant date is before the valuation date stated in that statement: (i) the first valuation date is the date when the interest was acquired by the member spouse; and (ii) the value of the interest at the first valuation date is the value of the interest at that date; and (iii) the second valuation date is the valuation date stated in the statement; and (iv) the value of the interest at the second valuation date is the value of the interest stated in the statement; and (d) in any other case: (i) the first valuation date is the date when the interest was acquired by the member spouse; and (ii) the value of the interest at the first valuation date is the value of the interest at that date; and (iii) the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and (iv) the value of the interest at the second valuation date is the value of the interest at that date. (4A) For subparagraphs (4)(a)(iv) and (d)(iv), the value of the interest at the second valuation date includes: (a) any amount payable under an earlier payment split that applies in respect of the interest; and (b) the amount of any surcharge debt of the member spouse in respect of the interest. (4B) For this regulation, a reference to the value of the interest stated in a statement: (a) is a reference to the value stated in the statement, however that value is described (for example, the member's account balance, share in the plan, withdrawal benefit); and (b) if 2 or more values are stated in the statement, is taken to be a reference to the value of the benefits (before any taxes or other charges have been deducted) that would have been payable in respect of the interest if the member spouse had voluntarily ceased to be a member of the plan at the date at which the value is stated. (5) In this regulation: valuation date, in relation to a superannuation interest to which a member information statement applies, means the date as at which the value of the interest is stated in the statement. 32 Method for determining gross value—partially vested accumulation interest (1) If the whole of the superannuation interest is a partially vested accumulation interest, the gross value at the relevant date of the interest is to be determined in accordance with this regulation. (2) If: (a) under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of the interest; and (b) evidence is before the court in the relevant proceeding of the contents of a statement issued by the trustee of the plan in which the interest is held, being a statement that states the gross value of the interest determined in accordance with the approved method or factors; the gross value of the interest at the relevant date is the value of the interest stated in the statement. (3) If: (a) the Minister has not approved, under regulation 38, a method or factors to be used to determine the gross value of the interest; and (b) evidence is before the court in the relevant proceeding of the contents of a statement issued by the trustee of the plan in which the interest is held, being a statement that states the value of the interest determined in accordance with the method set out in Schedule 3; the gross value of the interest at the relevant date is the value of the interest stated in the statement. (4) If no evidence is before the court in the relevant proceeding of the contents of a statement mentioned in paragraph (2)(b) or (3)(b), the gross value at the relevant date of the interest is to be determined using: (a) if, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of the interest—the approved method or factors; or (b) in any other case—the method set out in Schedule 3. 33 Method for determining gross value—combination of defined benefit interest and accumulation interest (1) Subject to subregulation (2), if the superannuation interest is made up of a component that is a defined benefit interest and a component that is an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined by adding: (a) the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and (b) the gross value at the relevant date of the accumulation interest, determined in accordance with the method set out in regulation 31. (2) This regulation does not apply to a superannuation interest in relation to which a method or factor has been approved in an instrument made under regulation 38 after the commencement of this subregulation. 34 Method for determining gross value—combination of defined benefit interest and partially vested accumulation interest (1) Subject to subregulation (2), if the superannuation interest is made up of a component that is a defined benefit interest and a component that is a partially vested accumulation interest, the gross value at the relevant date of the interest is to be determined by adding: (a) the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and (b) the gross value at the relevant date of the partially vested accumulation interest, determined in accordance with the method set out in regulation 32. (2) This regulation does not apply to a superannuation interest in relation to which a method or factor has been approved in an instrument made under regulation 38. 35 Method for determining gross value—interest that is the greater of a defined benefit interest and an accumulation interest If the superannuation interest is the greater of a defined benefit interest and an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined to be the greater of: (a) the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and (b) the gross value at the relevant date of the accumulation interest, determined in accordance with the method set out in regulation 31. 36 Method for determining gross value—interest that is the lesser of a defined benefit interest and an accumulation interest If the superannuation interest is the lesser of a defined benefit interest and an accumulation interest (other than a partially vested accumulation interest), the gross value at the relevant date of the interest is to be determined to be the lesser of: (a) the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and (b) the gross value at the relevant date of the accumulation interest, determined in accordance with the method set out in regulation 31. 37 Method for determining gross value—defined benefit less other amount (1) If the superannuation interest is a defined benefit interest the benefit in respect of which is, under the governing rules of the eligible superannuation plan in which the interest is held, the amount of a defined benefit less any other amount (other than an amount of superannuation contributions surcharge that the trustee is liable to pay in respect of the interest), the gross value at the relevant date of the interest is to be determined as the difference between: (a) the gross value at the relevant date of the defined benefit interest, determined in accordance with the method set out in regulation 29; and (b) the value at the relevant date of the other amount. (2) For the purpose of determining the value at the relevant date of the other amount under paragraph (1)(b), if: (a) the other amount is in respect of a superannuation interest; and (b) this Division provides a method for determining an amount in relation to that kind of interest; the value at the relevant date of the other amount is to be determined in accordance with that method. 38 Approval of methods and factors for determining gross value of particular superannuation interests (1) The Minister may approve, in writing, for the purposes of this regulation, methods or factors that are to be used to determine the gross value of any of the following: (a) a superannuation interest the whole of which is a defined benefit interest; (b) a superannuation interest the whole of which is a partially vested accumulation interest; (c) a superannuation interest that is made up of a component that is a defined benefit interest and a component that is an accumulation interest (other than a partially vested accumulation interest); (d) a superannuation interest that is made up of a component that is a defined benefit interest and a component that is a partially vested accumulation interest; (e) a defined benefit interest the gross value of which is to be determined under regulation 35, 36 or 37. (2) A method or factors approved by the Minister under subregulation (1) may relate to any of the following: (a) the gross value of a superannuation interest, or a component of a superannuation interest, in a particular eligible superannuation plan; (b) the gross value of a superannuation interest, or a component of a superannuation interest, in a particular category of superannuation interests in a particular eligible superannuation plan; (c) the gross value, in particular circumstances, of a superannuation interest or a component of a superannuation interest, or a superannuation interest or a component of a superannuation interest in a particular category of superannuation interests, in a particular eligible superannuation plan; (d) the gross value, in particular circumstances, of a particular component of a superannuation interest in a particular eligible superannuation plan. (3) An approval by the Minister under subregulation (1) is a legislative instrument. (4) An approval made under this regulation before the commencement of this subregulation has effect as if it had been made under this regulation as in force at the commencement of this subregulation. Note: If, under this regulation, the Minister approves a method or factors to be used to determine the gross value of a superannuation interest, the approved method or factors are to be used to determine the gross value of the interest instead of the method set out in these Regulations. Division 5.2—Superannuation interest in payment phase at relevant date 39 Application of Division 5.2 (Act s 90XT, s 90YY) For paragraphs 90XT(2)(a) and 90YY(2)(a) of the Act and paragraph 22(1)(b) of these Regulations, this Division sets out the method for determining an amount in relation to a superannuation interest of a member spouse at the relevant date if the interest: (a) is not a percentage‑only interest; and (b) is in the payment phase at the relevant date. Note: This Division does not apply to a superannuation interest of a kind mentioned in subregulation 22(2). 40 Method for determining amount in relation to a superannuation interest—general (1) The method for determining an amount in relation to the superannuation interest at the relevant date is as follows: Step 1 Determine the gross value of the superannuation interest at the relevant date. Step 2 Deduct from the amount determined under Step 1 any amount payable under a payment split that applies to a splittable payment in respect of the superannuation interest and has an operative time that is before the relevant date. The resulting amount is the amount in relation to the superannuation interest at the relevant date. (2) For Step 1 of the table in subregulation (1), the gross value of the superannuation interest at the relevant date is the gross value of the interest as determined in accordance with the regulation in this Division that applies to the interest. 41 Method for determining gross value—benefits payable only as one or more lump sums If the whole, or the remaining part, of the benefits in respect of the superannuation interest is payable only as one or more lump sums, the gross value at the relevant date of the interest is to be the withdrawal benefit in relation to the member spouse at that date. 42 Method for determining gross value—benefits paid as pension (1) This regulation applies to the superannuation interest if the benefits in respect of the interest are being paid as a pension at the relevant date. (2) If the pension is payable for the life of the member spouse, the gross value of the superannuation interest at the relevant date is to be determined using: (a) if, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of the interest—the approved method or factors; or (b) in any other case—the method set out in Schedule 4. (3) If the pension is payable for a fixed term only and the pension is not a market linked pension, the gross value of the superannuation interest at the relevant date is to be determined using the method set out in Schedule 5. (4) If the pension is an allocated pension, the gross value of the superannuation interest at the relevant date is to be the withdrawal benefit in relation to the member spouse at that date. (5) If the pension is a market linked pension, the gross value of the superannuation interest at the relevant date is the market linked pension account balance at that date. 43 Method for determining gross value—benefits paid as pension and lump sum also payable (1) This regulation applies to the superannuation interest if: (a) part of the benefits in respect of the interest is being paid as a pension at the relevant date; and (b) the remaining part of the benefits is payable as a lump sum (whether at the relevant date or at any time after that date) that is not a commutation of the pension. (2) If the lump sum is payable at the relevant date, the gross value of the superannuation interest at the relevant date is to be determined by adding: (a) the gross value of the pension, determined using the relevant method set out in regulation 42; and (b) the amount of the lump sum. (3) If the lump sum is payable at any time after the relevant date, the gross value of the superannuation interest at the relevant date is to be determined using the method set out in Schedule 6. 43A Approval of methods and factors for determining gross value of superannuation interest being paid as a life pension (1) The Minister may approve, in writing, for the purposes of this regulation, methods or factors that are to be used to determine the gross value of a superannuation interest the benefits in respect of which are being paid as a pension that is payable for the life of the member spouse. (2) An approval by the Minister under subregulation (1) is a legislative instrument. Note: If the Minister approves a method or factors to be used to determine the gross value of a superannuation interest, the approved method or factors are to be used to determine the gross value of the interest instead of the method set out in Schedule 4 to these Regulations—see subregulation 42(2). Part 6—Entitlement of non‑member spouse in respect of certain superannuation interests Division 6.1—Interpretation 44 Definition for Part 6 In this Part: lump sum means any amount (other than an amount of a pension payment) that is paid to a member in respect of a superannuation interest. Examples: 1 A transfer of money. 2 A rollover of benefits under the SIS Act. 45 Meaning of base amount allocated to the non‑member spouse (1) For this Part, the base amount allocated to the non‑member spouse, in relation to a superannuation interest, is: (a) in the case of an interest that is identified in a superannuation agreement or flag lifting agreement: (i) the base amount specified in the agreement in relation to the interest for the purposes of Part VIIIB or VIIIC of the Act, rounded, if necessary, in accordance with subregulation (2); or (ii) the base amount calculated in accordance with a method specified in the agreement, rounded, if necessary, in accordance with subregulation (2); and (b) in the case of an interest in relation to which a splitting order applies—the base amount allocated to the non‑member spouse by the court under subsection 90XT(4) or 90YY(5) of the Act, rounded, if necessary, in accordance with subregulation (2). (2) For subregulation (1): (a) a base amount that includes a part of a dollar that is less than 50 cents is to be rounded down to the nearest dollar; and (b) a base amount that includes a part of a dollar that is 50 cents or more is to be rounded up to the nearest dollar. Division 6.1A—Adjustment of base amount 45A Adjustment of base amount (1) For the purpose of calculating: (a) the amount (if any) that the non‑member spouse is entitled to be paid in respect of a splittable payment that becomes payable in respect of a superannuation interest in the growth phase that is subject to a payment split; or (b) the value of the non‑member spouse's entitlement under a superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest in the growth phase; the base amount allocated to the non‑member spouse in relation to the interest must be adjusted by the trustee of the eligible superannuation plan in which the interest is held for each adjustment period applicable to the interest under this Division. (2) After each applicable adjustment period, the trustee must, if necessary, adjust the base amount in accordance with the rate of interest that applied to the superannuation interest in that adjustment period under regulation 45D. Note: Depending on the rate of interest that applied to the superannuation interest in an adjustment period, the base amount may be adjusted by a positive amount or a negative amount or, if the rate was nil, not adjusted. (3) For this regulation, a superannuation interest is in the growth phase if: (a) in the case of an interest that is identified in a superannuation agreement or flag lifting agreement—the interest was in the growth phase at the date when the agreement was served on the trustee under section 90XI or 90YM of the Act; and (b) in the case of an interest in relation to which a splitting order applies—the interest was in the growth phase at the date of the order. 45B Applicable adjustment periods—superannuation interests other than those to which regulation 45C applies (1) If a superannuation interest is not an interest to which regulation 45C applies, the applicable adjustment periods for the interest are: (a) if a splittable payment becomes payable, or a terminating action occurs, in respect of the interest before the end of the first year—the period beginning at the operative time and ending at the end of the day before the payment becomes payable or the terminating action occurs; and (b) in any other case, the following periods: (i) the period beginning at the operative time and ending at the end of the first year; (ii) after the first year, each whole year (if any) ending before a splittable payment becomes payable, or a terminating action occurs, in respect of the interest; (iii) in the year in which a splittable payment becomes payable, or a terminating action occurs, in respect of the interest—the period beginning at the beginning of that year and ending at the end of the day before the payment becomes payable or the terminating action occurs. (2) In this regulation: first year means the year in which the operative time in relation to the relevant payment split occurs. relevant condition of release has the same meaning as in Division 2.2. terminating action, for a superannuation interest, means any of the following actions, in respect of the non‑member spouse's entitlement under a superannuation agreement, flag lifting agreement or splitting order, by the trustee of the plan in which the interest is held: (a) the creation, under the governing rules of the plan, of a new interest in the plan for the non‑member spouse; (b) the transfer or rollover, under the governing rules of the plan, to another superannuation fund or an RSA of an amount to be held for the benefit of the non‑member spouse; (c) if the non‑member spouse has satisfied a relevant condition of release—the payment of an amount to the non‑member spouse. year, for a superannuation interest, means: (a) if the interest is in a regulated superannuation fund that has a year of income within the meaning of subsection 10(1) of the SIS Act—a year of income; and (b) in any other case—a financial year. 45C Applicable adjustment periods—whole of superannuation interest is accumulation interest (1) If the whole of a superannuation interest is an accumulation interest in a regulated superannuation fund (other than a self managed superannuation fund), an approved deposit fund or an RSA, the applicable adjustment periods for the interest are: (a) if a splittable payment becomes payable, or a terminating action occurs, in respect of the interest before the end of the first allotment period—the period beginning at the operative time and ending at the end of the period for which the plan would allot net earnings to the member spouse if he or she voluntarily ceased to be a member of the plan on the day when the splittable payment becomes payable or the terminating action occurs; and (b) in any other case, the following periods: (i) the period beginning at the operative time and ending at the end of the first allotment period; (ii) after the first allotment period, each whole allotment period (if any) ending before a splittable payment becomes payable, or a terminating action occurs, in respect of the interest; (iii) in the allotment period in which a splittable payment becomes payable, or a terminating action occurs, in respect of the interest—the period beginning at the beginning of that allotment period and ending at the end of the period for which the plan would allot net earnings to the member spouse if he or she voluntarily ceased to be a member of the plan on the day when the splittable payment becomes payable or the terminating action occurs. (2) In this regulation: allotment period, for a superannuation interest, means the period used by the plan in which the interest is held to allot net earnings of the plan to the member who has the interest. first allotment period, for a superannuation interest, means the allotment period in which the operative time in relation to the relevant payment split occurs. relevant condition of release has the same meaning as in Division 2.2. terminating action, for a superannuation interest, means any of the following actions, in respect of the non‑member spouse's entitlement under a superannuation agreement, flag lifting agreement or splitting order, by the trustee of the plan in which the interest is held: (a) the creation, under the payment split provisions of the SIS Regulations, of a new interest in the plan for the non‑member spouse; (b) the opening of a new RSA for the non‑member spouse under the payment split provisions of the RSA Regulations; (c) the transfer or rollover, under the payment split provisions of the SIS Regulations or the RSA Regulations, to another superannuation fund or an RSA of an amount to be held for the benefit of the non‑member spouse; (d) if the non‑member spouse has satisfied a relevant condition of release—the payment, under the payment split provisions of the SIS Regulations or the RSA Regulations, of an amount to the non‑member spouse. 45D Interest rates for adjustment of base amount (1) The rate of interest that applies to a superannuation interest in an adjustment period is the interest rate that applies to the interest for the adjustment period under this regulation. (2) If the whole of the superannuation interest is an accumulation interest (other than an interest in a self managed superannuation fund), the interest rate for the adjustment period is: (a) for an interest in a regulated superannuation fund, an approved deposit fund or an RSA: (i) the rate of any allotment (being the allotment of a positive amount, a nil amount or a negative amount) to the member spouse of net earnings of the eligible superannuation plan for the adjustment period; or (ii) if there has been no such allotment to the member spouse for the adjustment period, the rate at which net earnings of the plan would be allotted to the member spouse if he or she voluntarily ceased to be a member of the plan on the day when the relevant splittable payment becomes payable or the terminating action, within the meaning given by subregulation 45C(2), occurs; and (b) if the interest is in an exempt public sector superannuation scheme or a superannuation fund that is not a regulated superannuation fund: (i) the rate of any allocation (being the allocation of a positive amount, a nil amount or a negative amount) to the member spouse of investment earnings (however described) of the eligible superannuation plan for the adjustment period; or (ii) if there has been no such allocation to the member spouse for the adjustment period, the rate at which those investment earnings would be allocated to the member spouse if he or she voluntarily ceased to be a member of the plan on the day before the relevant splittable payment becomes payable. (3) If: (a) the whole, or any component, of the superannuation interest is a defined benefit interest, or the superannuation interest is in a self managed superannuation fund; and (b) the adjustment period is a financial year; the interest rate for the adjustment period is the rate determined by the Australian Government Actuary, and published in the Gazette, being a rate that is 2.5 percentage points above the percentage change in the original estimate of full‑time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics during the year ending with the November quarter immediately before the beginning of the adjustment period. (4) If: (a) the whole, or any component, of the superannuation interest is a defined benefit interest, or the superannuation interest is in a self managed superannuation fund; and (b) the adjustment period is a period of less than 12 months that begins and ends within a financial year; the interest rate for the adjustment period is the rate calculated in accordance with a method determined by the Australian Government Actuary, and published in the Gazette, being a method that provides for calculation of a rate by reference to a rate that is 2.5 percentage points above the percentage change in the original estimate of full‑time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics during the year ending with the November quarter immediately before the beginning of the financial year in which the adjustment period occurs. (5) If: (a) the whole, or any component, of the superannuation interest is a defined benefit interest, or the superannuation interest is in a self managed superannuation fund; and (b) the adjustment period is: (i) a period of 12 months that is not a financial year; or (ii) a period of less than 12 months; and (c) the adjustment period commences before 30 June in a financial year and ends during the following financial year; the interest rate for the adjustment period is the rate calculated under subregulation (6). (6) For subregulation (5), the rate is calculated in accordance with a method determined by the Australian Government Actuary, and published in the Gazette, being a method that provides for the calculation of a rate by reference to the following rates: (a) a rate that is 2.5 percentage points above the percentage change in the original estimate of full‑time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics, during the year ending with the November quarter in the financial year ending immediately before the commencement of the adjustment period; (b) a rate that is 2.5 percentage points above the percentage change in the original estimate of full‑time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics, during the year ending with the November quarter in the financial year in which the adjustment period commenced. Division 6.2—Superannuation interest in growth phase at date of service of agreement or date of order 46 Application of Division 6.2 (Act s 90XJ, s 90XT, s 90YN, s 90YY) (1) For sections 90XJ and 90YN of the Act and regulation 16, and paragraphs 90XT(1)(a) and 90YY(1)(a) of the Act and paragraph 23(2)(a) of these Regulations, this Division sets out how to calculate the amount (if any) that the non‑member spouse is entitled to be paid under a payment split in respect of a splittable payment that becomes payable in respect of a superannuation interest of a member spouse if: (a) the interest is not a percentage‑only interest; and (b) in the case of an interest that is identified in a superannuation agreement or flag lifting agreement—the interest was in the growth phase at the date when the agreement was served on the trustee under section 90XI or 90YM of the Act; and (c) in the case of an interest in relation to which a splitting order applies—the interest was in the growth phase at the date of the order. Note: This Division does not apply to a payment split in respect of a small superannuation accounts interest—see paragraphs 16(1)(a) and 23(1)(b) of these Regulations. (2) If the payment split is a second or later payment split applicable to the splittable payment, this Division applies as modified in accordance with Schedule 7. Note: Sections 90XX and 90YZN of the Act provide in relation to the order in which multiple payment splits that apply to the same splittable payment are to be calculated. 49 Amount to be paid to non‑member spouse—benefit payable only as lump sum that is equal to or more than adjusted base amount (1) This regulation applies in relation to the superannuation interest if: (a) the first splittable payment that the member spouse or other person is entitled to receive is a lump sum (other than a lump sum that the member spouse or other person may be entitled to receive because the member spouse or other person may choose, by way of a commutation of a pension payable to him or her, or otherwise, to take the whole, or a part, of the benefits in respect of the interest, as a lump sum); and (b) the lump sum is equal to or more than the amount of the adjusted base amount applicable to the non‑member spouse at the time the splittable payment becomes payable. (2) The amount that the non‑member spouse is entitled to be paid from the lump sum is the amount that is equal to the amount of the adjusted base amount applicable to the non‑member spouse at that time. (3) The non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. 50 Amount to be paid to non‑member spouse—benefit payable only as lump sum that is less than adjusted base amount (1) This regulation applies in relation to the superannuation interest if: (a) the first splittable payment that the member spouse or other person is entitled to receive is a lump sum (other than a lump sum that the member spouse or other person may be entitled to receive because the member spouse or other person may choose, by way of a commutation of a pension payable to him or her, or otherwise, to take the whole, or a part, of the benefits in respect of the interest, as a lump sum); and (b) the lump sum is less than the amount of the adjusted base amount applicable to the non‑member spouse at the time the splittable payment becomes payable. (2) The amount that the non‑member spouse is entitled to be paid in respect of the superannuation interest is: (a) the amount of the lump sum; and (b) unless regulation 51 applies in relation to the interest, the amount, calculated in accordance with subregulation (3), from each other splittable payment that becomes payable in respect of the interest. (3) For paragraph (2)(b), the amount to be paid to the non‑member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula: where: ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest. X is the amount of the lump sum paid to the non‑member spouse under paragraph (2)(a). SP is the amount of the relevant splittable payment. A is the amount in relation to the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest, determined in accordance with the relevant method set out in Division 5.2, as if references in that Division to 'the relevant date' were references to 'the date when the first splittable payment became payable in respect of the superannuation interest'. 51 Amount to be paid to non‑member spouse—optional lump sum from remaining benefits (1) This regulation applies in relation to the superannuation interest if: (a) the non‑member spouse is entitled to be paid the amount of a lump sum in respect of the interest under paragraph 50(2)(a); and (b) the member spouse or other person may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take the whole, or a part, of the remaining benefits in respect of the interest as a lump sum; and (c) the non‑member spouse has served a request, in accordance with Form 2 in Schedule 1, on the trustee of the plan requesting that the non‑member spouse be paid, as a lump sum, the whole, or a proportion, of the remaining adjusted base amount applicable to the non‑member spouse at that time; and (d) any choice by the member spouse or other person to be paid the amount requested by the non‑member spouse will not cause the member spouse or other person to lose the right to take the remaining part of the benefits in respect of the interest as a pension. (2) If the non‑member spouse has requested to be paid, as a lump sum, the whole of the remaining adjusted base amount applicable to the non‑member spouse at that time: (a) the member spouse or other person must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (3); and (b) the non‑member spouse is entitled to be paid that amount; and (c) the non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. (3) For paragraph (2)(a), the amount of the lump sum is calculated in accordance with the following formula: where: ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment became payable in respect of the superannuation interest. X is the amount of the lump sum paid to the non‑member spouse under paragraph 50(2)(a). Comm is the commutation factor for converting to a lump sum, under the governing rules of the plan, a pension payable to the member spouse or other person, if the pension were to be converted to a lump sum at: (a) if the relevant splittable payment in respect of the superannuation interest is payable to the member spouse—the date of the first splittable payment to the member spouse in respect of the superannuation after the operative time; or (b) if the relevant splittable payment in respect of the superannuation interest is payable to another person for the benefit of the member spouse—the earliest date when the pension could be commuted to a lump sum; or (c) if the relevant splittable payment in respect of the superannuation interest is payable to a reversionary beneficiary after the death of the member spouse—the date of the member spouse's death; or (d) if the relevant splittable payment in respect of the superannuation interest is payable to the legal personal representative of the member spouse after the death of the member spouse, or the legal personal representative of a reversionary beneficiary covered by paragraph 90XE(1)(d) or 90YD(1)(d) of the Act after the death of that reversionary beneficiary—the earliest date at which the legal personal representative could choose to take the remaining benefits in respect of the interest as a lump sum. Py+m is the pension valuation factor that applies to the particular pension payable to the member spouse or other person at the date that applies under the definition of the factor Comm in this subregulation, being: (a) if, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest the benefits in respect of which are being paid as a pension that is payable for the life of the member spouse—the approved factor or the factor that applies under the approved method; or (b) in any other case—the pension valuation factor under Schedule 4 or 5. (4) If the non‑member spouse has requested to be paid, as a lump sum, a proportion of the remaining adjusted base amount applicable to the non‑member spouse at that time: (a) the member spouse or other person must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (5) (the minimum lump sum); and (b) the non‑member spouse is entitled to be paid: (i) that amount; and (ii) the amount, calculated in accordance with subregulation (6), from: (A) if the member spouse or other person chooses to be paid, as a lump sum, an amount that is more than the minimum lump sum—the amount that is the difference between the actual lump sum paid and the minimum lump sum; and (B) each other splittable payment that becomes payable in respect of the superannuation interest. (5) For paragraph (4)(a), the amount of the minimum lump sum is calculated in accordance with the following formula: where: ABA is the amount of the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment became payable in respect of the superannuation interest. X is the amount of the lump sum paid to the non‑member spouse under paragraph 50(2)(a). Prop. is the proportion of the remaining adjusted base amount applicable to the non‑member spouse that the non‑member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee. Comm has the same meaning as in subregulation (3). Py+m has the same meaning as in subregulation (3). (6) For subparagraph (4)(b)(ii), the amount is calculated in accordance with the following formula: where: ABA is the amount of the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment became payable in respect of the superannuation interest. X is the amount of the lump sum paid to the non‑member spouse under paragraph 50(2)(a). Prop. is the proportion of the remaining adjusted base amount applicable to the non‑member spouse that the non‑member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee. SP is: (a) if applicable, the amount of the difference between the actual lump sum paid to the member spouse and the minimum lump sum; or (b) the amount of the relevant splittable payment. rV is the remaining value of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 50(2)(a) and subparagraph (4)(b)(ii) of this regulation, calculated in accordance with subregulation (7). (7) For subregulation (6), the remaining value (rV) of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 50(2)(a) and subparagraph (4)(b)(ii) of this regulation is calculated in accordance with the following formula: where: A has the meaning given by subregulation 50(3). X is the amount of the lump sum paid to the non‑member spouse under paragraph 50(2)(a). Y is the amount of the lump sum paid to the non‑member spouse under subparagraph (4)(b)(i) of this regulation. Py+m has the same meaning as in subregulation (3). Comm has the same meaning as in subregulation (3). 52 Amount to be paid to non‑member spouse—optional lump sum—payment of whole of adjusted base amount (1) This regulation applies in relation to the superannuation interest if: (a) benefits in respect of the interest are not payable as an allocated pension or a market linked pension; and (b) the member spouse or other person may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take a lump sum that is at least the amount of the adjusted base amount applicable to the non‑member spouse at that time without losing the right to take the remaining part of the benefits in respect of the interest as a pension; and (c) the non‑member spouse has served a request, in accordance with Form 3 in Schedule 1, on the trustee of the plan requesting that the non‑member spouse be paid, as a lump sum, the whole of the adjusted base amount applicable to the non‑member spouse at the time the splittable payment becomes payable. (2) The member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with the following formula: where: ABA is the amount of the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest. Comm has the same meaning as in subregulation 51(3). Py+m has the same meaning as in subregulation 51(3). (3) The amount that the non‑member spouse is entitled to be paid in respect of the superannuation interest is the amount calculated in accordance with subregulation (2). (4) The non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. 53 Amount to be paid to non‑member spouse—optional lump sum—payment of part of adjusted base amount (1) This regulation applies in relation to the superannuation interest if: (a) benefits in respect of the interest are not payable as an allocated pension or a market linked pension; and (b) the member spouse or other person may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take a lump sum that is at least the amount of the adjusted base amount applicable to the non‑member spouse at that time without losing the right to take the remaining part of the benefits in respect of the interest as a pension; and (c) the non‑member spouse has served a request, in accordance with Form 3 in Schedule 1, on the trustee of the plan requesting that the non‑member spouse be paid, as a lump sum, a proportion of the adjusted base amount applicable to the non‑member spouse at that time. (2) The member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with the following formula (the minimum lump sum): where: ABA is the amount of the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest (the applicable adjusted base amount). Prop. is the proportion of the applicable adjusted base amount that the non‑member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee. Comm has the same meaning as in subregulation 51(3). Py+m has the same meaning as in subregulation 51(3). (3) The amount that the non‑member spouse is entitled to be paid in respect of the superannuation interest is: (a) the amount of the minimum lump sum; and (b) the amount, calculated in accordance with subregulation (4), from: (i) if the member spouse chooses to be paid, as a lump sum, an amount that is more than the minimum lump sum—the amount that is the difference between the actual lump sum paid and the minimum lump sum; and (ii) each other splittable payment that becomes payable in respect of the superannuation interest. (4) For paragraph (3)(b), the amount is calculated in accordance with the following formula: where: ABA is the amount of the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment became payable in respect of the superannuation interest (the applicable adjusted base amount). Prop. is the proportion of the applicable adjusted base amount that the non‑member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee. SP is: (a) if applicable, the amount of the difference between the actual lump sum paid to the member spouse and the minimum lump sum; or (b) the amount of the relevant splittable payment. A has the meaning given by subregulation 50(3). Y is the amount of the lump sum paid to the non‑member spouse under paragraph (3)(a). Py+m has the same meaning as in subregulation 51(3). Comm has the same meaning as in subregulation 51(3). 54 Amount to be paid to non‑member spouse—no benefit payable only as lump sum or first splittable payment not lump sum (1) This regulation applies in relation to the superannuation interest if: (a) benefits in respect of the interest are not payable as an allocated pension or a market linked pension, and no benefit is payable to the member spouse or other person as a lump sum (including a lump sum that the member spouse or other person may choose to take, by way of a commutation of a pension payable to him or her, or otherwise, in respect of the whole, or a part, of the benefits in respect of the interest); or (b) the first splittable payment that the member spouse or other person is entitled to receive is not a lump sum, but a lump sum is payable in respect of the interest at a later time. (2) The amount that the non‑member spouse is entitled to be paid in respect of each splittable payment that becomes payable in respect of the superannuation interest is: where: ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest. SP is the amount of the relevant splittable payment. A is the amount in relation to the superannuation interest at the date when the first splittable payment becomes payable in respect of the superannuation interest, determined in accordance with the relevant method set out in Division 5.2, as if references in that Division to 'the relevant date' were references to 'the date when the first splittable payment becomes payable in respect of the superannuation interest'. 54A Amount to be paid to non‑member spouse—benefits payable as allocated pension or market linked pension (1) This regulation applies in relation to the superannuation interest if: (a) the whole, or a part, of the benefits in respect of the interest are payable as an allocated pension or a market linked pension; and (b) regulation 49 does not apply in relation to the interest. (2) When a splittable payment becomes payable in respect of the superannuation interest, being an interest in respect of which the whole, or a part, of the benefits are payable as an allocated pension and not as a market linked pension, the non‑member spouse is entitled to be paid, from the lump sum from which the allocated pension is payable, the amount of the adjusted base amount applicable to the non‑member spouse at that time. (3) When a splittable payment becomes payable in respect of the superannuation interest, being an interest in respect of which the whole, or a part, of the benefits are payable as a market linked pension and not as an allocated pension, the non‑member spouse is entitled to be paid, from the lump sum from which the market linked pension is payable, the amount of the adjusted base amount applicable to the non‑member spouse at that time. (4) When a splittable payment becomes payable in respect of the superannuation interest, being an interest in respect of which part of the benefits are payable as an allocated pension and part of the benefits are payable as a market linked pension, the non‑member spouse is entitled to be paid: (a) if the amount of the lump sum from which the allocated pension is payable is equal to, or more than, the amount of the adjusted base amount applicable to the non‑member spouse at that time—from that lump sum, the amount of the adjusted base amount applicable to the non‑member spouse at that time; or (b) if the amount of the lump sum from which the allocated pension is payable is less than the amount of the adjusted base amount applicable to the non‑member spouse at that time: (i) the amount of the lump sum from which the allocated pension is payable; and (ii) so much of the amount of the lump sum from which the market linked pension is payable as is needed to pay the balance of the amount of the adjusted base amount applicable to the non‑member spouse at that time. (5) Subject to subregulation (6), the non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. (6) If the lump sum mentioned in subregulation (2) or (3), or the total of the lump sums mentioned in subparagraphs (4)(b)(i) and (ii), is less than the amount of the adjusted base amount applicable to the non‑member spouse at the time the splittable payment becomes payable, the non‑member spouse is entitled to be paid: (a) the amount of the lump sum, or lump sums, as the case requires; and (b) from each other splittable payment that becomes payable in respect of the superannuation interest, the amount calculated in accordance with subregulation (7). (7) For paragraph (6)(b), the amount is calculated in accordance with the following formula: where: ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest. X is the amount of the lump sum, or lump sums, paid to the non‑member spouse under paragraph (6)(a). SP is the amount of the relevant splittable payment. A has the meaning given by subregulation 50(3). Division 6.3—Superannuation interest in payment phase at date of service of agreement or date of order Subdivision 6.3.1—Application of Division 6.3 55 Application of Division 6.3 (Act s 90XJ, s 90XT, s 90YN, s 90YY) For sections 90XJ and 90YN of the Act and subregulation 17(2), and paragraphs 90XT(1)(a) and 90YY(1)(a) of the Act and paragraph 23(2)(b) of these Regulations, this Division sets out how to calculate the amount (if any) that the non‑member spouse is entitled to be paid under a payment split in respect of a splittable payment that becomes payable in respect of a superannuation interest of a member spouse if: (a) the interest is not a percentage‑only interest; and (b) in the case of an interest that is identified in a superannuation agreement or flag lifting agreement: (i) the agreement states that the base amount is a total amount that relates to the whole of the superannuation interest, or the base amount is taken to be a total amount that relates to the whole of the superannuation interest; and (ii) the interest was in the payment phase at the date when the agreement was served on the trustee under section 90XI or 90YM of the Act; and (c) in the case of an interest in relation to which a splitting order under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act applies—the interest was in the payment phase at the date of the order. Note: This Division does not apply to a payment split in respect of a small superannuation accounts interest—see paragraphs 17(1)(a) and 23(1)(b) of these Regulations. Subdivision 6.3.2—First or only payment split 55A Application of Subdivision 6.3.2 This Subdivision sets out how to calculate the non‑member spouse's entitlement under the payment split if the payment split is the first or only payment split applicable to the splittable payment. 56 Amount to be paid to non‑member spouse—first splittable payment after operative time equal to or more than base amount (1) This regulation applies in relation to the superannuation interest if: (a) the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension or a market linked pension; and (b) the amount of that payment is equal to or more than the amount of the base amount allocated to the non‑member spouse in relation to the interest. (2) The amount that the non‑member spouse is entitled to be paid from the first splittable payment is the amount that is equal to the base amount allocated to the non‑member spouse in relation to the superannuation interest. (3) The non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. 57 Amount to be paid to non‑member spouse—first splittable payment after operative time less than base amount (1) This regulation applies in relation to the superannuation interest if: (a) the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension or a market linked pension; and (b) the amount of that payment is less than the amount of the base amount allocated to the non‑member spouse in relation to the interest. (2) The amount that the non‑member spouse is entitled to be paid in respect of the superannuation interest is: (a) the amount of the first splittable payment; and (b) unless regulation 58 applies in relation to the interest, the amount, calculated in accordance with subregulation (3), from each other splittable payment that becomes payable in respect of the interest. (3) For paragraph (2)(b), the amount to be paid to the non‑member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula: where: BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest. X is the amount of the first splittable payment paid to the non‑member spouse under paragraph (2)(a). SP is the amount of the relevant splittable payment. A is the amount in relation to the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest after the operative time, determined in accordance with the relevant method set out in Division 5.2, as if references in that Division to 'the relevant date' were references to 'the date when the first splittable payment became payable in respect of the superannuation interest after the operative time'. 58 Amount to be paid to non‑member spouse—optional lump sum from remaining benefits (1) This regulation applies in relation to the superannuation interest if: (a) the non‑member spouse is entitled to be paid the amount of the first splittable payment in respect of the interest after the operative time under paragraph 57(2)(a); and (b) the member spouse may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take the whole, or a part, of the remaining benefits in respect of the interest as a lump sum; and (c) the non‑member spouse has served a request, in accordance with Form 4 in Schedule 1, on the trustee of the plan requesting that the non‑member spouse be paid, as a lump sum, the whole, or a proportion, of the remaining base amount allocated to the non‑member spouse in relation to the interest; and (d) any choice by the member spouse to be paid the amount requested by the non‑member spouse will not cause the member spouse to lose the right to take the remaining part of the benefits in respect of the interest as a pension. (2) If the non‑member spouse has requested to be paid, as a lump sum, the whole of the remaining base amount allocated to the non‑member spouse in relation to the superannuation interest: (a) the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (3); and (b) the non‑member spouse is entitled to be paid that amount; and (c) the non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. (3) For paragraph (2)(a), the amount of the lump sum is calculated in accordance with the following formula: where: BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest. X is the amount of the first splittable payment paid to the non‑member spouse under paragraph 57(2)(a). Comm has the same meaning as in subregulation 51(3). Py+m has the same meaning as in subregulation 51(3). (4) If the non‑member spouse has requested to be paid, as a lump sum, a proportion of the remaining base amount allocated to the non‑member spouse in relation to the superannuation interest: (a) the member spouse must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (5) (the minimum lump sum); and (b) the non‑member spouse is entitled to be paid: (i) that amount; and (ii) the amount, calculated in accordance with subregulation (6), from: (A) if the member spouse chooses to be paid, as a lump sum, an amount that is more than the minimum lump sum—the amount that is the difference between the actual lump sum paid and the minimum lump sum; and (B) each other splittable payment that becomes payable in respect of the superannuation interest. (5) For paragraph (4)(a), the amount of the minimum lump sum is calculated in accordance with the following formula: where: BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest. X is the amount of the first splittable payment paid to the non‑member spouse under paragraph 57(2)(a). Prop. is the proportion of the remaining base amount allocated to the non‑member spouse in relation to the interest that the non‑member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee. Comm has the same meaning as in subregulation 51(3). Py+m has the same meaning as in subregulation 51(3). (6) For subparagraph (4)(b)(ii), the amount is calculated in accordance with the following formula: where: BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest. X is the amount of the first splittable payment paid to the non‑member spouse under paragraph 57(2)(a). Prop. is the proportion of the remaining base amount allocated to the non‑member spouse in relation to the interest that the non‑member spouse has requested to be paid, as a lump sum, to him or her in the request served on the trustee. SP is: (a) if applicable, the amount of the difference between the actual lump sum paid to the member spouse and the minimum lump sum; or (b) the amount of the relevant splittable payment. rV is the remaining value of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 57(2)(a) and subparagraph (4)(b)(ii) of this regulation, calculated in accordance with subregulation (7). (7) For subregulation (6), the remaining value (rV) of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 57(2)(a) and subparagraph (4)(b)(ii) of this regulation is calculated in accordance with the following formula: where: A has the meaning given by subregulation 57(3). X is the amount of the lump sum paid to the non‑member spouse under paragraph 57(2)(a). Y is the amount of the lump sum paid to the non‑member spouse under subparagraph (4)(b)(i) of this regulation. Py+m has the same meaning as in subregulation 51(3). Comm has the same meaning as in subregulation 51(3). 58A Amount to be paid to non‑member spouse—benefits payable as allocated pension or market linked pension (1) This regulation applies in relation to the superannuation interest if the first splittable payment that becomes payable in respect of the interest after the operative time is a payment in respect of an allocated pension or a market linked pension. (2) When a splittable payment becomes payable in respect of the superannuation interest, being an interest in respect of which the whole, or a part, of the benefits are payable as an allocated pension and not as a market linked pension, the non‑member spouse is entitled to be paid, from the lump sum from which the allocated pension is payable, the amount of the base amount allocated to the non‑member spouse in relation to the interest. (3) When a splittable payment becomes payable in respect of the superannuation interest, being an interest in respect of which the whole, or a part, of the benefits are payable as a market linked pension and not as an allocated pension, the non‑member spouse is entitled to be paid, from the lump sum from which the market linked pension is payable, the amount of the base amount allocated to the non‑member spouse in relation to the interest. (4) When a splittable payment becomes payable in respect of the superannuation interest, being an interest in respect of which part of the benefits are payable as an allocated pension and part of the benefits are payable as a market linked pension, the non‑member spouse is entitled to be paid: (a) if the amount of the lump sum from which the allocated pension is payable is equal to, or more than, the amount of the base amount allocated to the non‑member spouse in relation to the interest—from that lump sum, the amount of the base amount allocated to the non‑member spouse in relation to the interest; or (b) if the amount of the lump sum from which the allocated pension is payable is less than the amount of the base amount allocated to the non‑member spouse in relation to the interest: (i) the amount of the lump sum from which the allocated pension is payable; and (ii) so much of the amount of the lump sum from which the market linked pension is payable as is needed to pay the balance of the amount of the base amount allocated to the non‑member spouse in relation to the interest. (5) Subject to subregulation (6), the non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. (6) If the lump sum mentioned in subregulation (2) or (3), or the total of the lump sums mentioned in subparagraphs (4)(b)(i) and (ii), is less than the amount of the base amount applicable to the non‑member spouse at the time the splittable payment becomes payable, the non‑member spouse is entitled to be paid: (a) the amount of the lump sum, or lump sums, as the case requires; and (b) from each other splittable payment that becomes payable in respect of the superannuation interest, the amount calculated in accordance with subregulation (7). (7) For paragraph (6)(b), the amount is calculated in accordance with the following formula: where: BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest. X is the amount of the lump sum, or lump sums, paid to the non‑member spouse under paragraph (6)(a). SP is the amount of the relevant splittable payment. A has the meaning given by subregulation 50(3). Subdivision 6.3.3—Second or later payment split 58B Application of Subdivision 6.3.3 This Subdivision sets out how to calculate the non‑member spouse's entitlement under the payment split if the payment split is a second or later payment split applicable to the splittable payment. 58C Amount to be paid to non‑member spouse—first splittable payment after operative time equal to or more than amount of earlier payments plus base amount (1) This regulation applies in relation to the superannuation interest if: (a) the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension or a market linked pension; and (b) the amount of that payment is equal to or more than the sum of: (i) the amount payable under subregulation 50(3), 51(6), 53(4), 54(2), 57(3) or 58(6) or this regulation to each other person under a payment split with an earlier operative time; and (ii) the base amount allocated to the non‑member spouse in relation to the interest. (2) The amount that the non‑member spouse is entitled to be paid in respect of the first splittable payment is the base amount. (3) The non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. 58D Amount to be paid to non‑member spouse—first splittable payment after operative time less than amount of earlier payments plus base amount (1) This regulation applies in relation to the superannuation interest if: (a) the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension or a market linked pension; and (b) the amount of that payment is less than the sum of: (i) the amount payable under subregulation 50(3), 51(6), 53(4), 54(2), 57(3) or 58(6) or this regulation to each other person under a payment split with an earlier operative time; and (ii) the base amount allocated to the non‑member spouse in relation to the interest. (2) The amount that the non‑member spouse is entitled to be paid in respect of the superannuation interest is: (a) the amount of the first splittable payment; and (b) from each other splittable payment that becomes payable in respect of the interest, the amount calculated in accordance with subregulation (3). Note for paragraph (a): Because of the operation of subsections 90XX(3) and 90YZN(3) of the Act, the amount under paragraph (a) will be the amount of the first splittable payment as reduced by the amount to which another person is entitled under each payment split with an earlier operative time. (3) For paragraph (2)(b), the amount is calculated in accordance with the following formula: where: BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest. X is the amount of the first splittable payment paid to the non‑member spouse under paragraph (2)(a). SP is the amount of the relevant splittable payment. A has the meaning given by subregulation 57(3). 58E Amount to be paid to non‑member spouse—benefits payable as allocated pension or market linked pension (1) This regulation applies in relation to the superannuation interest if the first splittable payment that becomes payable in respect of the interest after the operative time is: (a) a payment in respect of an allocated pension; or (b) a payment in respect of a market linked pension. (2) The non‑member spouse is entitled to be paid the amounts calculated in accordance with regulation 58A. Part 7—General provisions about payment splitting Division 7.1—General 59 Fees payable to trustee (Act s 90XY, s 90YZO) (1) The trustee of an eligible superannuation plan may charge reasonable fees in respect of any of the following: (a) a payment split; (b) a payment flag; (c) flag lifting under a flag lifting agreement that does not provide for a payment split; (d) an order under section 90XM or 90YR of the Act terminating the operation of a payment flag; (e) an application under section 90XZB or 90YZR of the Act for information about a superannuation interest; (f) any other thing done by the trustee in relation to a superannuation interest covered by a superannuation agreement, flag lifting agreement or splitting order. (2) A fee payable in respect of a matter mentioned in paragraph (1)(a), (b), (c), (d) or (f) is payable: (a) subject to paragraph (b), by the member spouse and the non‑member spouse in equal parts; or (b) if the fee is in respect of a payment split under which the non‑member spouse is entitled to be paid the whole of the amount of each splittable payment that becomes payable—by the non‑member spouse. (3) A fee payable in respect of an application mentioned in paragraph (1)(e) is payable by the person who makes the application. 60 Waiver of rights under payment split (Act s 90XZA, s 90YZQ) (1) For subsections 90XZA(2) and 90YZQ(2) of the Act, a waiver notice must be in accordance with Form 5 in Schedule 1. (2) For paragraphs 90XZA(2)(a) and 90YZQ(2)(a) of the Act, each of the following persons is a prescribed financial adviser: (a) a person who is the holder of an Australian financial services licence under section 913B of the Corporations Act 2001, being a licence that authorises the person to provide advice of the kind mentioned in paragraph 90XZA(2)(a) or 90YZQ(2)(a) (as the case may be) of the Family Law Act 1975; (b) a person who provides a financial service, within the meaning of the Corporations Act 2001, on behalf of a person mentioned in paragraph (a) in the circumstances in which that is permitted under section 911B of that Act. Division 7.2—Provision of information to and by trustee 61 Definitions for Division 7.2 In this Division: appropriate date, in relation to the information that must be provided by the trustee of an eligible superannuation plan to an applicant, means: (a) the date when the application for the information is received by the trustee; or (b) if an earlier date is specified in the application, that date. preserved benefits means: (a) for a member of a regulated superannuation fund or an approved deposit fund—preserved benefits in relation to the member under Subdivision 6.1.2 of the SIS Regulations; and (b) for a member of an RSA—preserved benefits in relation to the member under Subdivision 4.1.2 of the RSA Regulations. restricted non‑preserved benefits means: (a) for a member of a regulated superannuation fund—restricted non‑preserved benefits in relation to the member under Subdivision 6.1.3 of the SIS Regulations; and (b) for a member of an RSA—restricted non‑preserved benefits in relation to the member under Subdivision 4.1.3 of the RSA Regulations. unrestricted non‑preserved benefits means: (a) for a member of a regulated superannuation fund or an approved deposit fund—unrestricted non‑preserved benefits in relation to the member under Subdivision 6.1.4 of the SIS Regulations; and (b) for a member of an RSA—unrestricted non‑preserved benefits in relation to the member under Subdivision 4.1.4 of the RSA Regulations. 62 Application to trustee for information—accompanying declaration (Act s 90XZB, s 90YZR) For subsections 90XZB(2) and 90YZR(2) of the Act, the declaration accompanying an application by an eligible person, under section 90XZB or 90YZR of the Act, to the trustee of an eligible superannuation plan for information about a superannuation interest of a member of the plan must be in accordance with Form 6 in Schedule 1. 63 Information about certain accumulation interests (Act s 90XZB, 90YZR) (1) This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if: (a) the interest is an accumulation interest or a component of the interest is an accumulation interest; and (b) the interest is not a percentage‑only interest or an interest in a self managed superannuation fund; and (c) regulation 68A does not apply in relation to the interest. (2) For subsections 90XZB(3) and 90YZR(3) of the Act and subject to subregulations (6), (6A) and (6B), the information about the accumulation interest that must be provided to an applicant by the trustee of the plan is as follows: (aa) if the interest is an unsplittable interest, a statement to that effect; (a) a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (5); (b) the date of commencement of the member's service period, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997; (c) the date when the member first became a member of the plan; (d) if the interest was in the payment phase at the appropriate date—the payment phase information in relation to the interest mentioned in subregulation (3); (e) if the interest was in the growth phase at the appropriate date: (i) in the case of an accumulation interest other than a partially vested accumulation interest—the growth phase information in relation to the interest mentioned in subregulation (4); and (ii) in the case of a partially vested accumulation interest—the growth phase information in relation to the interest mentioned in subregulation (4A); (ea) if the application for information specifically requests the trustee to provide information about the withdrawal benefit in relation to the member—the withdrawal benefit in relation to the member at the date when the information is provided; Note: If an application for information specifically requests the information mentioned in paragraph (ea) to be provided, the trustee is required to provide only the information mentioned in that paragraph to the applicant, and is not required to provide any other information to the applicant under this regulation—see paragraph (6)(a). (f) details of any fees that may be charged by the trustee under paragraph 59(1)(a), (b), (c), (d) or (f). (3) For paragraph (2)(d), the payment phase information in relation to the superannuation interest is: (a) if the member is receiving ongoing pension payments in respect of an allocated pension—the withdrawal benefit in relation to the member at the appropriate date; and (aa) if the member is receiving ongoing pension payments in respect of a market linked pension—the market linked pension account balance at the appropriate date; and (b) if the member is receiving ongoing pension payments in respect of a pension other than an allocated pension or a market linked pension: (i) the amount of annual pension benefit payable to the member at the appropriate date; and (ii) a statement indicating whether the pension benefit is a lifetime pension or a fixed‑term pension; and (iii) if the pension is a fixed‑term pension: (A) the date when the pension payments commenced; and (B) the length of the term; and (iv) a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and (v) a statement indicating whether there is any reversionary beneficiary who is a non‑member spouse in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member; and Note for paragraphs (a) and (b): The trustee is not required to provide the information mentioned in paragraph (a) or subparagraph (b)(i) unless a record of it is in the trustee's possession, power or control—see paragraph (6)(b). (c) if a lump sum is payable to the member in respect of the interest at the date when the information is provided or at any later date, and the amount of the lump sum is known—the amount of the lump sum; and (d) if a lump sum (a future lump sum) is payable to the member in respect of the interest at a date after the date when the information is provided, and the amount of the lump sum is not known: (i) the amount of the lump sum that would have been paid at the date when the information is provided if a lump sum were payable at that date (the nominal lump sum); and (ii) the method that is to be used to index the nominal lump sum to determine the amount of the future lump sum; and (e) if a lump sum payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided: (i) the amount of the payment; and (ii) the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; and (f) a statement: (i) indicating whether the Minister has approved, under regulation 43A, a method or factors for determining the gross value of the interest; and (ii) giving details of any method or factors so approved; and (g) if the application for information specifically requests the trustee to provide it and the trustee chooses to do so—the gross value of the interest at the appropriate date, determined in accordance with: (i) whichever of the methods in regulation 41, 42 or 43 applies to the interest; or (ii) a method or factors approved by the Minister under regulation 43A. (4) For subparagraph (2)(e)(i), the growth phase information in relation to the superannuation interest (being an accumulation interest other than a partially vested accumulation interest) is as follows: (aa) the value of the benefits (before any taxes or other charges have been deducted) that would have been payable in respect of the interest at the appropriate date if the member spouse had voluntarily ceased to be a member of the plan at that date; Note: The trustee is not required to provide this information unless a record of it is in the trustee's possession, power or control—see paragraph (6)(c). (a) if 2 or more member information statements in relation to the interest have been provided to the member, and the appropriate date is between the valuation date stated in one statement (the earlier statement) and the valuation date stated in the next statement (the next statement): (i) the value of the interest, as stated in the earlier statement; and (ii) the value of the interest, as stated in the next statement; and (iii) the amount, and the date, of any rollover or transfer by the member, or partial payment to the member, in the period beginning on the day after the valuation date stated in the earlier statement and ending at the end of the valuation date stated in the next statement; (b) if at least one member information statement in relation to the interest has been provided to the member, and the appropriate date is before the valuation date stated in the first member information statement provided to the member (the first statement): (i) the value of the interest, as stated in the first statement; and (ii) the value of the interest at the date when the interest was acquired; and (iii) the amount, and the date, of any rollover or transfer by the member, or partial payment to the member, in the period beginning on the date when the interest was acquired and ending at the end of the valuation date stated in the first statement; (c) if at least one member information statement in relation to the interest has been provided to the member, and the appropriate date is after the valuation date stated in the most recent statement: (i) the value of the interest, as stated in the most recent statement; and (ii) the value of the interest at the date when the information is provided; and (iii) the amount, and the date, of any rollover or transfer by the member, or partial payment to the member, in the period beginning on the day after the valuation date stated in the most recent statement and ending at the end of the day when the information is provided; (ca) if no member information statement in relation to the interest has been provided to the member: (i) the value of the interest at the date when the interest was acquired; and (ii) the value of the interest at the date when the information is provided; and (iii) the amount, and the date, of any rollover or transfer by the member, or any partial payment to the member, in the period beginning on the day after the date when the interest was acquired and ending at the end of the day when the information is provided; Note for paragraphs (a), (b), (c) and (ca): The trustee is required to provide the information mentioned in these paragraphs in certain circumstances only—see paragraph (6)(d). (d) if the interest is in a regulated superannuation fund or an RSA: (i) the amount of restricted non‑preserved benefits that had accrued to the member, and would be payable to the member, if he or she were to resign from his or her employment on the date when the information is provided; and (ii) the amount (if any) of the member's unrestricted non‑preserved benefits; (e) if the interest is in an approved deposit fund—the amount, at the date when the information is provided, of the member's unrestricted non‑preserved benefits; (f) if: (i) a payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided; and (ii) the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan— the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; (g) if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated—a statement to this effect. (4A) For subparagraph (2)(e)(ii), the growth phase information in relation to the superannuation interest (being a partially vested accumulation interest) is as follows: (a) the value of the benefits (before any taxes or other charges have been deducted) that would have been payable in respect of the interest at the appropriate date if the member spouse had voluntarily ceased to be a member of the plan at that date; (aaa) a statement: (i) indicating whether the Minister has approved, under regulation 38, a method or factors for determining the gross value of the interest; and (ii) giving details of any method or factors so approved; and (aa) if the application for information specifically requests the trustee to provide it and the trustee chooses to do so—the gross value of the interest at the appropriate date, determined in accordance with Schedule 3 or in accordance with a method or factors approved by the Minister under regulation 38. Note: The trustee is not required to provide this information unless a record of it is in the trustee's possession, power or control—see paragraph (6)(c). (b) if 2 or more member information statements in relation to the interest have been provided to the member, and the appropriate date is between the valuation date stated in one statement (the earlier statement) and the valuation date stated in the next statement (the next statement): (i) the value of the actual vested benefit in respect of the interest, as stated in the earlier statement; and (ii) if stated in the earlier statement, the total member credit at the valuation date stated in that statement; and (iii) the value of the actual vested benefit in respect of the interest, as stated in the next statement; and (iv) if stated in the next statement, the total member credit at the valuation date stated in that statement; and (v) the amount, and the date, of any rollover or transfer by the member, or partial payment to the member, in the period beginning on the day after the valuation date stated in the earlier statement and ending at the end of the valuation date stated in the next statement; (c) if at least one member information statement in relation to the interest has been provided to the member, and the appropriate date is before the valuation date stated in the first member information statement provided to the member (the first statement): (i) the value of the actual vested benefit in respect of the interest, as stated in the first statement; and (ii) if stated in the first statement, the total member credit at the valuation date stated in that statement; and (iii) the value of the actual vested benefit in respect of the interest at the date when the interest was acquired; and (iv) the total member credit at the date when the interest was acquired; and (v) the amount, and the date, of any rollover or transfer by the member, or partial payment to the member, in the period beginning on the date when the interest was acquired and ending at the end of the valuation date stated in the first statement; (d) if at least one member information statement in relation to the interest has been provided to the member, and the appropriate date is after the valuation date stated in the most recent statement: (i) the value of the actual vested benefit in respect of the interest, as stated in the most recent statement; and (ii) if stated in the most recent statement, the total member credit at the valuation date stated in that statement; and (iii) the value of the actual vested benefit in respect of the interest at the date when the information is provided; and (iv) the total member credit at the date when the information is provided; and (v) the amount, and the date, of any rollover or transfer by the member, or partial payment to the member, in the period beginning on the day after the valuation date stated in the most recent statement and ending at the end of the day when the information is provided; (e) if no member information statement in relation to the interest has been provided to the member: (i) the value of the actual vested benefit in respect of the interest at the date when the interest was acquired; and (ii) the total member credit at the date when the interest was acquired; and (iii) the value of the actual vested benefit in respect of the interest at the date when the information is provided; and (iv) the total member credit at the date when the information is provided; and (v) the amount, and the date, of any rollover or transfer by the member, or any partial payment to the member, in the period beginning on the day after the date when the interest was acquired and ending at the end of the day when the information is provided; Note for paragraphs (b), (c), (d) and (e): The trustee is required to provide the information mentioned in these paragraphs in certain circumstances only—see paragraph (6)(d). (f) the vesting term that applies to the interest; (g) the date when the vesting term commenced; (h) a statement indicating whether the Minister has approved, under regulation 38, a method or factors for determining the gross value of the interest and giving details of any method or factors so approved; (i) if a member information statement in relation to the interest that has been provided to the member does not include the total member credit at the valuation date stated in the statement—that information; (j) if the interest is in a regulated superannuation fund or an RSA: (i) the amount of restricted non‑preserved benefits that had accrued to the member, and would be payable to the member, if he or she were to resign from his or her employment on the date when the information is provided; and (ii) the amount (if any) of the member's unrestricted non‑preserved benefits; (k) if the interest is in an approved deposit fund—the amount, at the date when the information is provided, of the member's unrestricted non‑preserved benefits; (l) if: (i) a payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided; and (ii) the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan— the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; (m) if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated—a statement to this effect. (5) For paragraph (2)(a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2) is as follows: (a) the operative time for the payment split; (b) if the payment split is under subparagraph 90XJ(1)(c)(i) or (ii) or 90YN(1)(c)(i) or (ii) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the payment phase at the appropriate date—the amount that, under subregulation 58(6) or 58D(3), a person is entitled to be paid from each splittable payment that becomes payable in respect of the interest; (c) if the payment split is under subparagraph 90XJ(1)(c)(i) or 90YN(1)(c)(i) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the growth phase at the appropriate date: (i) the base amount specified in the relevant superannuation agreement or flag lifting agreement in relation to the interest; and (ii) if applicable, the adjusted base amount at the appropriate date; (d) if the payment split is under subparagraph 90XJ(1)(c)(ii) or 90YN(1)(c)(ii) of the Act and the interest was in the growth phase at the appropriate date: (i) the amount set out in the document served on the trustee under paragraph 90XI(1)(b) or 90YM(1)(b) of the Act; and (ii) if applicable, the adjusted base amount at the appropriate date; (e) if the payment split is under subparagraph 90XJ(1)(c)(iii) or 90YN(1)(c)(iii) of the Act or under a splitting order made under paragraph 90XT(1)(b) or 90YY(1)(b) of the Act—the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest. (6) The trustee is not required to provide information mentioned in this regulation to an applicant in any of the following circumstances: (a) if the application for information specifically requests the trustee to provide the information mentioned in paragraph (2)(ea) to the applicant, the trustee is not required to provide any other information mentioned in this regulation to the applicant; (b) the trustee is not required to provide the information mentioned in paragraph (3)(a) or subparagraph (3)(b)(i) to the applicant unless a record of that information is in the trustee's possession, power or control; (c) the trustee is not required to provide the information mentioned in paragraph (4)(aa) or paragraph (4A)(a), as the case requires, to the applicant unless a record of that information is in the trustee's possession, power or control; (d) the trustee is not required to provide the information mentioned in paragraph (4)(a), (b), (c) or (ca) or paragraph (4A)(b), (c), (d) or (e), as the case requires, to the applicant unless: (i) the application for information specifically requests the trustee to provide this information; and (ii) a record of the information is in the trustee's possession, power or control; and (iii) a record of the information mentioned in paragraph (4)(aa) or paragraph (4A)(a), as the case requires, is not in the trustee's possession, power or control. (6A) If: (a) the superannuation interest, or a component of the superannuation interest, is a partially vested accumulation interest; and (b) under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of the superannuation interest or the component of the interest; the Minister may, by written determination, provide either or both of the following: (c) that the trustee is not required to provide the information about the interest, or the component of the interest, mentioned in one or more paragraphs of subregulation (4A); (d) that the trustee must provide other information, as specified in the determination, about the interest or the component of the interest. (6B) If, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of the superannuation interest, the Minister may, by written determination, provide either or both of the following: (a) that the trustee is not required to provide the information about the interest mentioned in one or more paragraphs of subregulations (2) and (3); (b) that the trustee must provide other information, as specified in the determination, about the interest. (6C) A determination by the Minister under subregulation (6A) or (6B) is a legislative instrument. (7) For this regulation, a reference to the value of the interest stated in a statement: (a) is a reference to the value stated in the statement, however that value is described (for example, the member's account balance, share in the plan, withdrawal benefit); and (b) if 2 or more values are stated in the statement, is taken to be a reference to the value of the benefits (before any taxes or other charges have been deducted) that would have been payable in respect of the interest if the member spouse had voluntarily ceased to be a member of the plan at the date at which the value is stated. (8) In this regulation: total member credit, in relation to a superannuation interest of a member and a date, means the total amount that would be standing to the credit of the member in respect of the interest if the benefit in respect of the interest were fully vested at that date. valuation date, in relation to a superannuation interest to which a member information statement applies, means the date as at which the value of the interest, or the total member credit, is stated in the statement. 63A Giving valuation information—partially vested accumulation interest (Act s 90XZB, s 90YZR) (1) If an application for information under section 90XZB or 90YZR of the Act specifically requested the trustee to provide the information mentioned in paragraph 63(4A)(aa) and the trustee, in response to that application: (a) provided the gross value of the partially vested accumulation interest at the appropriate date, determined in accordance with a method or factors approved by the Minister under regulation 38; but (b) has not provided sufficient information to enable the applicant to check whether that gross value of the interest has been correctly determined in accordance with the approved method or factors; the applicant may make an application for information that will enable the applicant do so. Note: This subregulation applies on or after 1 July 2007 to an interest if a determination has not been made under subregulation 63(6A) requiring the trustee to give information, not otherwise required under subregulation 63(4A), which would enable the applicant to check if the gross value of the interest was correctly determined. (2) The trustee must, within a reasonable time after receiving the later application, provide the information requested by the applicant in a document that is addressed to the applicant. (3) Subregulation 68B(2) applies to information that is provided by the trustee to the applicant under this regulation. 64 Information about certain defined benefit interests (Act s 90XZB, s 90YZR) (1) This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if: (a) the interest is a defined benefit interest or a component of the interest is a defined benefit interest; and (b) the interest is not a percentage‑only interest or an interest in a self managed superannuation fund; and (c) regulation 68A does not apply in relation to the interest. (2) For subsections 90XZB(3) and 90YZR(3) of the Act and subject to subregulations (6), (7), (7AA), (7A) and (7B), the information about the defined benefit interest that must be provided to an applicant by the trustee of the plan is as follows: (aa) if the interest is an unsplittable interest, a statement to that effect; (a) a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (5); (b) the date of commencement of the member's service period, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997; (c) the date when the member first became a member of the plan; (d) if the interest was in the payment phase at the appropriate date—the payment phase information in relation to the interest mentioned in subregulation (3); (e) if the interest was in the growth phase at the appropriate date and the interest is held by a member as a result of employment in which the member is or was still engaged at the appropriate date—the growth phase information mentioned in subregulation (4); (eaa) if: (i) the interest was in the growth phase at the appropriate date; and (ii) the interest is held by a member as a result of employment in which the member is or was no longer engaged at the appropriate date; and (iii) under the governing rules of the plan, the benefit in respect of the interest is payable after the date when the information is provided— the growth phase information mentioned in subregulation (4A); (ea) if the application for information specifically requests the trustee to provide information about the withdrawal benefit in relation to the member—the withdrawal benefit in relation to the member at the date when the information is provided; Note: If an application for information specifically requests the information mentioned in paragraph (ea) to be provided, the trustee is required to provide only the information mentioned in that paragraph to the applicant, and is not required to provide any other information to the applicant under this regulation—see paragraph (6)(a). (f) details of any fees that may be charged by the trustee under paragraph 59(1)(a), (b), (c), (d) or (f). Note: This information may not have to be provided by a secondary government trustee—see regulation 69. (3) For paragraph (2)(d), the payment phase information in relation to the superannuation interest is: (a) if the member is receiving ongoing pension payments in respect of an allocated pension—the withdrawal benefit in relation to the member at the appropriate date; and (aa) if the member is receiving ongoing pension payments in respect of a market linked pension—the market linked pension account balance at the appropriate date; and (b) if the member is receiving ongoing pension payments in respect of a pension other than an allocated pension or a market linked pension: (i) the amount of annual pension benefit payable to the member at the appropriate date; and (ii) a statement indicating whether the pension benefit is a lifetime pension or a fixed‑term pension; and (iii) if the pension is a fixed‑term pension: (A) the date when the pension payments commenced; and (B) the length of the term; and (iv) a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and (v) a statement indicating whether there is any reversionary beneficiary who is a non‑member spouse in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member; and Note for paragraphs (a) and (b): The trustee is not required to provide the information mentioned in paragraph (a) or subparagraph (b)(i) unless a record of it is in the trustee's possession, power or control—see paragraph (6)(b). (c) if a lump sum is payable to the member in respect of the interest at the date when the information is provided or at any later date, and the amount of the lump sum is known—the amount of the lump sum; and (d) if a lump sum (a future lump sum) is payable to the member in respect of the interest at a date after the date when the information is provided, and the amount of the lump sum is not known: (i) the amount of the lump sum that would have been paid at the date when the information is provided if a lump sum were payable at that date (the nominal lump sum); and (ii) the method that is to be used to index the nominal lump sum to determine the amount of the future lump sum; and (e) if a lump sum payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided: (i) the amount of the payment; and (ii) the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; and (f) a statement: (i) indicating whether the Minister has approved, under regulation 43A, a method or factors for determining the gross value of the interest; and (ii) giving details of any method or factors so approved; and (g) if the application for information specifically requests the trustee to provide it and the trustee chooses to do so—the gross value of the interest at the appropriate date, determined in accordance with: (i) whichever of the methods in regulation 41, 42 or 43 applies to the interest; or (ii) a method or factors approved by the Minister under regulation 43A. (4) For paragraph (2)(e), the growth phase information in relation to the superannuation interest is as follows: (a) the member's retirement age; Note: The term member's retirement age is defined in regulation 3. (b) the member spouse's accrued benefit multiple, within the meaning given by regulation 65, for any lump sum, or pension, payable in respect of the interest; (c) the salary figure, on which any benefit payable in respect of the interest would be based, assuming that the member were eligible to retire at the appropriate date; Example: If the benefit payable in respect of a member's superannuation interest is defined by reference to the member's final average salary, the salary figure for this paragraph would be the member's final average salary. (d) if the benefit in respect of the interest is payable as a combination of a lump sum and a pension and the governing rules of the plan restrict the proportion of the pension that may be commuted to a lump sum—the maximum amount of pension that may be commuted to a lump sum, expressed as a percentage of the amount of the pension that would be payable if the whole benefit were to be taken as a pension; (da) if the benefit in respect of the interest is payable as a combination of a lump sum and a pension and the governing rules of the plan restrict the proportion of the lump sum that may be converted to a pension—the maximum amount of the lump sum that may be converted to a pension, expressed as a percentage of the amount of the lump sum that would be payable if the whole benefit were to be taken as a lump sum; (e) if any pension payable in respect of the interest is indexed and, if so, the method of indexation; (f) if any pension payable in respect of the interest has a guarantee period and, if so, the length of the guarantee period; (g) the conversion factor for converting a lump sum to a pension that will apply at the member's retirement age; (h) the commutation factor for commuting a pension to a lump sum that will apply at the member's retirement age; (i) if benefits in respect of the interest may be payable to a reversionary beneficiary who is a non‑member spouse—the proportion of payment in respect of the interest that the non‑member spouse would receive, as a reversionary beneficiary, on the death of the member; (j) unless the interest is in a constitutionally protected fund—the amount (if any) that was stated to be the surcharge debt of the member in the most recent member information statement provided to the member before the appropriate date; (k) if the interest is in a regulated superannuation fund or an RSA: (i) the amount of restricted non‑preserved benefits that had accrued to the member, and would be payable to the member, if he or she were to resign from his or her employment on the date when the information is provided; and (ii) the amount (if any) of the member's unrestricted non‑preserved benefits; (l) if the interest is in an approved deposit fund—the amount, at the date when the information is provided, of the member's unrestricted non‑preserved benefits; (m) if: (i) a payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided; and (ii) the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan— the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; (n) a statement: (i) indicating whether the Minister has approved, under regulation 38, a method or factors for determining the gross value of the interest; and (ii) giving details of any method or factors so approved; (o) if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated—a statement to this effect; and (p) if the application for information specifically requests the trustee to provide it and the trustee chooses to do so—the gross value of the interest at the appropriate date, determined in accordance with Schedule 2 or in accordance with a method or factors approved by the Minister under regulation 38. Note: The trustee is not required to provide the information mentioned in paragraph (b), (c) or (j) to the applicant in certain circumstances—see paragraph (6)(d). (4A) For paragraph (2)(eaa), the growth phase information in relation to the superannuation interest is as follows: (a) if the benefit in respect of the interest is payable only as a lump sum: (i) the amount of the lump sum that would be payable at the appropriate date, or, if that amount is calculated by reference to the indexation of 2 or more specified lump sums, the amount of each lump sum at that date (excluding any superannuation contributions surcharge payable in respect of the interest), if the member were able to take, and did take, the benefit in respect of the interest at that date; and (ii) if the amount of the lump sum is calculated by reference to the indexation of the amount of one or more specified lump sums—the method of indexation in respect of each lump sum; and (iii) the earliest date when the benefit may be paid to the member (other than for death or disability); (b) if the benefit in respect of the interest is payable only as a pension: (i) if the amount of the pension payable is calculated by reference to the conversion of a lump sum amount when the pension begins to be paid: (A) the amount of the lump sum at the appropriate date (excluding any superannuation contributions surcharge payable in respect of the interest), if the member were able to take, and did take, the benefit in respect of the interest at that date; and (B) if the amount of the lump sum is calculated by reference to the indexation of the lump sum—the method of indexation; and (C) the factor for converting the lump sum to a pension that will apply at the earliest date when the benefit may be paid to the member (other than for death or disability); and (ii) in any other case: (A) the amount of the pension at the appropriate date (excluding any superannuation contributions surcharge payable in respect of the interest), if the member were able to take, and did take, the benefit in respect of the interest at that date; and (B) if the amount of the pension is determined by increasing a fixed amount in accordance with an index until the earliest date when the benefit may be paid to the member (other than for death or disability)—details about the method used to increase the amount of the pension; and (iii) if the pension is indexed when it begins to be paid—the method of indexation; and (iv) a statement about whether there is any reversionary beneficiary who is a non‑member spouse in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member; and (v) the earliest date when the benefit may be paid to the member (other than for death or disability); (c) if the benefit is payable as a lump sum, a pension, or a combination of a lump sum and a pension—the information mentioned in paragraphs (4)(d) and (da) and paragraphs (a) and (b) of this subregulation; (d) the amount (if any) of the member's unrestricted non‑preserved benefits at the date when the information is provided; (e) the information mentioned in paragraphs (4)(j), (m), (n), (o) and (p). Note: The trustee is not required to provide the information mentioned in paragraph (4)(j) to the applicant in certain circumstances—see paragraph (6)(d). (5) For paragraph (2)(a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2) is as follows: (a) the operative time for the payment split; (b) if the payment split is under subparagraph 90XJ(1)(c)(i) or (ii) or 90YN(1)(c)(i) or (ii) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the payment phase at the appropriate date—the amount that, under subregulation 58(6) or 58D(3), a person is entitled to be paid from each splittable payment that becomes payable in respect of the interest; (c) if the payment split is under subparagraph 90XJ(1)(c)(i) or 90YN(1)(c)(i) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the growth phase at the appropriate date: (i) the base amount specified in the relevant superannuation agreement or flag lifting agreement in relation to the interest; and (ii) if applicable, the adjusted base amount at the appropriate date; (d) if the payment split is under subparagraph 90XJ(1)(c)(ii) or 90YN(1)(c)(ii) of the Act and the interest was in the growth phase at the appropriate date: (i) the amount set out in the document served on the trustee under paragraph 90XI(1)(b) or 90YM(1)(b) of the Act; and (ii) if applicable, the adjusted base amount at the appropriate date; (e) if the payment split is under subparagraph 90XJ(1)(c)(iii) or 90YN(1)(c)(iii) of the Act or under a splitting order made under paragraph 90XT(1)(b) or 90YY(1)(b) of the Act—the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest. (6) The trustee is not required to provide information mentioned in this regulation to an applicant in any of the following circumstances: (a) if the application for information specifically requests the trustee to provide the information mentioned in paragraph (2)(ea) to the applicant, the trustee is not required to provide any other information mentioned in this regulation to the applicant; (b) the trustee is not required to provide the information mentioned in paragraph (3)(a) or subparagraph (3)(b)(i) to the applicant unless a record of that information is in the trustee's possession, power or control; (d) the trustee is not required to provide the information mentioned in paragraph (4)(b), (c) or (j) to the applicant unless a record of that information is in the trustee's possession, power or control. (7) If, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of a defined benefit interest, or a component of a superannuation interest that is a defined benefit interest, the Minister may, by written determination, provide either or both of the following: (a) that the trustee is not required to provide the information about the interest, or the component of the interest, mentioned in one or more paragraphs of subregulation 64(4) or (4A); (b) that the trustee must provide other information, as specified in the determination, about the interest or the component of the interest. (7AA) If, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest that is made up of a component that is a defined benefit interest and a component that is an accumulation interest (other than a partially vested accumulation interest), the Minister may, by written determination, provide any or all of the following: (a) that the trustee is not required to provide the information about the component that is a defined benefit interest mentioned in one or more paragraphs of subregulation 64(4); (b) that the trustee is not required to provide the information about the component that is the accumulation interest mentioned in one or more paragraphs of subregulation 63(4); (c) that the trustee must provide other information, as specified in the determination, about the superannuation interest or a component of the superannuation interest. (7A) If, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest that is made up of a component that is a defined benefit interest and a component that is a partially vested accumulation interest, the Minister may, by written determination, provide any or all of the following: (a) that the trustee is not required to provide the information about the component that is a defined benefit interest mentioned in one or more paragraphs of subregulation 64(4); (b) that the trustee is not required to provide the information about the component that is a partially vested accumulation interest mentioned in one or more paragraphs of subregulation 63(4A); (c) that the trustee must provide other information, as specified in the determination, about the interest or a component of the interest. (7B) If, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of the superannuation interest, the Minister may, by written determination, provide either or both of the following: (a) that the trustee is not required to provide the information about the interest mentioned in one or more paragraphs of subregulations (2) and (3); (b) that the trustee must provide other information, as specified in the determination, about the interest. (8) A determination by the Minister under subregulation (7), (7AA), (7A) or (7B) is a legislative instrument. 64A Giving underlying valuation information—defined benefit interests (1) In this regulation: underlying valuation information means: (a) in relation to the gross value of a superannuation interest at the appropriate date, determined in accordance with Schedule 2, being an interest to which paragraph 64(2)(e) applies—the information mentioned in paragraph 64(4)(a), (b), (c), (d), (da), (e), (f), (g), (h) or (i); or (b) in relation to the gross value of a superannuation interest at the appropriate date, determined in accordance with Schedule 2, being an interest to which paragraph 64(2)(eaa) applies—the information mentioned in paragraph 64(4A)(a), (b) or (c); or (c) in relation to the gross value of a superannuation interest at the appropriate date, determined in accordance with a method or factors approved by the Minister under regulation 38: (i) if a determination under subregulation 64(7), (7AA), (7A) or (7B) is in effect in relation to the interest—information required to be provided under the determination; or (ii) in any other case—information that will enable the applicant to check whether the gross value of the interest has been correctly determined in accordance with the approved method or factors. (3) If, on or after 1 July 2007, an application for information under section 90XZB or 90YZR of the Act specifically requested the trustee to provide the information mentioned in paragraph 64(3)(g) and the trustee, in response to that application: (a) provided the gross value of the defined benefit interest at the appropriate date, determined in accordance with a method or factors approved by the Minister under regulation 43A; but (b) has not provided sufficient information to enable the applicant to check whether that gross value of the interest has been correctly determined in accordance with the approved method or factors; the applicant may make an application for specific underlying valuation information. (4) If, on or after 1 July 2007, an application for information under section 90XZB or 90YZR of the Act specifically requested the trustee to provide the information mentioned in paragraph 64(4)(p) and the trustee, in response to that application: (a) provided the gross value of the defined benefit interest at the appropriate date, determined in accordance with a method or factors approved by the Minister under regulation 38; but (b) has not provided sufficient information to enable the applicant to check whether that gross value of the interest has been correctly determined in accordance with the approved method or factors; the applicant may make an application for specific underlying valuation information. (5) Subject to subregulation (6), the trustee must, within a reasonable time after receiving the later application, provide the underlying valuation information requested by the applicant in a document that is addressed to the applicant. (6) The trustee is not required to provide to the applicant underlying valuation information of the kind mentioned in paragraph 64(4)(b) or (c) unless a record of that information is in the trustee's possession, power or control. (7) Subregulation 68B(2) applies to information that is provided by the trustee to the applicant under this regulation. 65 Information about certain defined benefit interests—meaning of accrued benefit multiple (1) For paragraph 64(4)(b), the accrued benefit multiple for a lump sum, or pension, payable in respect of a superannuation interest of a member in an eligible superannuation plan is the accrued benefit multiple that applies under this regulation. (2) If an accrued benefit multiple is defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held, the accrued benefit multiple is the multiple as defined. (3) If an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held, but a multiple is, under the governing rules of the plan, used to define the benefit payable to the member at the appropriate date, the accrued benefit multiple is that multiple. (4) If: (a) an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held; and (b) the benefit in respect of the interest is payable as a lump sum; and (c) subregulation (3) does not apply in respect of the interest; the accrued benefit multiple is: where: LSM is the multiple that will be applied to the member's salary figure at the member's earliest retirement date to calculate the lump sum retirement benefit that will be payable to the member at that date. T1 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the appropriate date. T2 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the member's earliest retirement date. (5) If: (a) an accrued benefit multiple is not defined under the governing rules of the eligible superannuation plan in which the defined benefit interest is held; and (b) the benefit in respect of the interest is payable as a pension; and (c) subregulation (3) does not apply in respect of the interest; the accrued benefit multiple is: where: PM is the multiple that will be applied to the member's salary figure at the member's earliest retirement date to calculate the pension benefit that will be payable to the member at that date. T1 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the appropriate date. T2 is the period beginning on the date when the member acquired the defined benefit interest and ending at the end of the day before the member's earliest retirement date. (6) For the purpose of calculating the accrued benefit multiple in respect of a defined benefit interest of a member of an eligible superannuation plan under subregulation (4) or (5), if the member's benefit in respect of the interest will, under the governing rules of the plan, depend on the amount of contributions made by the member to the plan and no particular rate of contributions is required under the governing rules of plan, it is to be assumed that: (a) the member has contributed to the plan at the rate that, under the governing rules of the plan, is the standard rate of contributions, unless the member has exercised any election under those rules to contribute at a different rate; or (b) if, under the governing rules of the plan, a range of contribution rates is available to the member, the member has contributed to the plan at the mid‑point of that range, unless the member has exercised any election under the governing rules of the plan to contribute at a different rate. (6A) For the definitions of the factors T1 and T2 in subregulations (4) and (5), a defined benefit interest of a member of an eligible superannuation plan is acquired on the earlier of: (a) the date when the member first became a member of the plan; and (b) the date when a benefit began to accrue to the member in respect of the interest. (7) In this regulation: member's earliest retirement date, for a member of an eligible superannuation plan, means the first date when the member could retire and become eligible, under the governing rules of the plan, to be paid a retirement benefit in respect of the member's superannuation interest in the plan. 66 Information about certain percentage‑only interests (Act s 90XZB, s 90YZR) (1) This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if: (a) the interest is a percentage‑only interest; and (b) the interest is not an interest in a self managed superannuation fund; and (c) regulation 68A does not apply in relation to the interest. (2) For subsections 90XZB(3) and 90YZR(3) of the Act and subject to subregulation (6), the information about the superannuation interest that must be provided to an applicant by the trustee of the plan is as follows: (aa) if the interest is an unsplittable interest, a statement to that effect; (a) a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (5); (b) the date of commencement of the member's service period, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997; (c) the date when the member first became a member of the plan; (d) if the interest was in the payment phase at the appropriate date and the member is receiving ongoing pension payments—the payment phase information in relation to the interest mentioned in subregulation (3); (da) if the interest is in a superannuation annuity and was in the payment phase at the appropriate date, and the member is receiving ongoing payments of benefits (ongoing benefits) under the annuity—the payment phase information in relation to the interest mentioned in subregulation (3A); (e) if the interest (other than an interest in a deferred annuity) was in the growth phase at the appropriate date—the growth phase information in relation to the interest mentioned in subregulation (4); (eaa) if the interest is in a deferred annuity and was in the growth phase at the appropriate date—the growth phase information in relation to the interest mentioned in subregulation (4A); (ea) if the application for information specifically requests the trustee to provide information about the withdrawal benefit in relation to the member—the withdrawal benefit in relation to the member at the date when the information is provided; Note: If an application for information specifically requests the information mentioned in paragraph (ea) to be provided, the trustee is required to provide only the information mentioned in that paragraph and paragraphs (4)(d) and (e) to the applicant, and is not required to provide any other information to the applicant under this regulation—see paragraph (6)(a). (f) details of any fees that may be charged by the trustee under paragraph 59(1)(a), (b), (c), (d) or (f). (3) For paragraph (2)(d), the payment phase information in relation to the superannuation interest is: (a) if the ongoing pension payments in respect of the interest are in respect of an allocated pension—the withdrawal benefit in relation to the member at the appropriate date; and (aa) if the ongoing pension payments are in respect of a market linked pension—the market linked pension account balance at the appropriate date; and (b) in any other case: (i) the amount of annual pension benefit payable to the member at the appropriate date; and (ii) a statement indicating whether the pension benefit is a lifetime pension or a fixed‑term pension; and (iii) if the pension is a fixed‑term pension: (A) the date when the pension payments commenced; and (B) the length of the term; and (iv) a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and (v) a statement indicating whether there is any reversionary beneficiary who is a non‑member spouse in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member. Note: The trustee is not required to provide the information mentioned in paragraph (a) or subparagraph (b)(i) unless a record of it is in the trustee's possession, power or control—see paragraph (6)(b). (3A) For paragraph (2)(da), the payment phase information in relation to the superannuation interest is: (a) if the ongoing benefits are paid in respect of a superannuation annuity that is an allocated annuity—the withdrawal benefit in relation to the member at the appropriate date; and (b) if the ongoing benefits are paid in respect of a superannuation annuity that is a market linked annuity—the market linked annuity account balance at the appropriate date; and (c) in any other case: (i) the amount of ongoing benefits payable to the member at the appropriate date; and (ii) a statement indicating whether the superannuation annuity is a lifetime annuity or a fixed‑term annuity; and (iii) if the superannuation annuity is a fixed‑term annuity: (A) the date when the payment of ongoing benefits commenced; and (B) the length of the term; and (iv) a statement indicating whether the superannuation annuity is indexed and, if so, the method of indexation. Note: The trustee is not required to provide the information mentioned in paragraph (a) or subparagraph (c)(i) unless a record of it is in the trustee's possession, power or control—see paragraph (6)(b). (4) For paragraph (2)(e), the growth phase information in relation to the superannuation interest is as follows: (a) the member's accrued benefit multiple, as defined in the governing rules of the plan, at the appropriate date; (b) the salary figure on which any benefit payable in respect of the interest would be based, at the appropriate date; (c) unless the interest is in a constitutionally protected fund—the amount (if any) that was stated to be the surcharge debt of the member in the most recent member information statement provided to the member before the appropriate date; Note: The trustee is not required to provide the information mentioned in paragraph (c) unless a record of it is in the trustee's possession, power or control—see paragraph (6)(b). (d) if the interest is in a regulated superannuation fund or an RSA: (i) the amount of restricted non‑preserved benefits that had accrued to the member, and would be payable to the member, if he or she were to resign from his or her employment on the date when the information is provided; and (ii) the amount (if any) of the member's unrestricted non‑preserved benefits; (e) if: (i) a payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided; and (ii) the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan— the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; (f) if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated—a statement to this effect. (4A) For paragraph (2)(eaa), the growth phase information in relation to the superannuation interest is as follows: (a) the account balance of the deferred annuity at the appropriate date; (b) the information mentioned in subparagraphs (4)(d)(i) and (ii) and paragraph (4)(e). (5) For paragraph (2)(a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2) is as follows: (a) the operative time for the payment split; (b) if the payment split is under paragraph 90XJ(1)(b) or 90YN(1)(b) of the Act: (i) the percentage specified in the relevant superannuation agreement or flag lifting agreement; and (ii) whether that percentage is to apply for the purposes of subparagraph 90XJ(1)(b)(i) or 90YN(1)(b)(i) (as the case may be) of the Act and, if so, the member's accrued benefit multiple at separation, within the meaning of regulation 19, in relation to the non‑member spouse who has an entitlement under the payment split; (c) if the payment split is under a splitting order made under paragraph 90XT(1)(b) or 90YY(1)(b) of the Act: (i) a statement indicating that the splitting order is made under that provision of the Act; and (ii) the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest; (d) if the payment split is under a splitting order made under paragraph 90XT(1)(c) or 90YY(1)(c) of the Act: (i) a statement indicating that the splitting order is made under that provision of the Act; and (ii) the percentage specified in the order; and (iii) if the superannuation interest is in an eligible superannuation plan other than a superannuation annuity—the member's accrued benefit multiple at separation, within the meaning of regulation 26, in relation to the non‑member spouse who has an entitlement under the payment split. (6) The trustee is not required to provide information mentioned in this regulation to an applicant in any of the following circumstances: (a) if the application for information specifically requests the trustee to provide the information mentioned in paragraph (2)(ea) to the applicant, the trustee is required to provide only the information mentioned in that paragraph and paragraphs (4)(d) and (e) to the applicant, and is not required to provide any other information mentioned in this regulation to the applicant; (b) the trustee is not required to provide the information mentioned in paragraph 3(a), subparagraph (3)(b)(i), paragraph (3A)(a), subparagraph (3A)(c)(i), paragraph (4)(c) or paragraph (4A)(a) to the applicant unless a record of that information is in the trustee's possession, power or control. 67 Information about interests in self managed superannuation funds (Act s 90XZB, s 90YZR) (1) This regulation applies in relation to a superannuation interest of a member of a self managed superannuation fund unless regulation 68A applies in relation to the interest. (2) For subsections 90XZB(3) and 90YZR(3) of the Act and subject to subregulation (5), the information about the superannuation interest that must be provided to an applicant by the trustee of the plan is as follows: (aa) if the interest is an unsplittable interest, a statement to that effect; (a) a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (4); (b) the date of commencement of the member's service period, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997; (c) the date when the member first became a member of the plan; (d) if the interest was in the payment phase at the appropriate date and the member is receiving ongoing pension payments—the payment phase information in relation to the interest mentioned in subregulation (3); (e) if the interest was in the growth phase at the appropriate date and the trustee has given information, under Division 2.5 of the SIS Regulations, to each member of the plan that the plan is to be reconstructed or terminated—a statement to this effect; (ea) if the application for information specifically requests the trustee to provide information about the withdrawal benefit in relation to the member—the withdrawal benefit in relation to the member at the date when the information is provided; Note: If an application for information specifically requests the information mentioned in paragraph (ea) to be provided, the trustee is not required to provide any other information to the applicant under this regulation—see paragraph (5)(a). (f) if requested by the applicant, a copy of the governing rules of the plan; (g) details of any fees that may be charged by the trustee under paragraph 59(1)(a), (b), (c), (d) or (f). (3) For paragraph (2)(d), the payment phase information in relation to the superannuation interest is: (a) if the ongoing pension payments in respect of the interest are in respect of an allocated pension—the withdrawal benefit in relation to the member at the appropriate date; and (aa) if the ongoing pension payments are in respect of a market linked pension—the market linked pension account balance at the appropriate date; and (b) in any other case: (i) the amount of annual pension benefit payable to the member at the appropriate date; and (ii) a statement indicating whether the pension benefit is a lifetime pension or a fixed‑term pension; and (iii) if the pension is a fixed‑term pension: (A) the date when the pension payments commenced; and (B) the length of the term; and (iv) a statement indicating whether the pension benefit is indexed and, if so, the method of indexation. Note: The trustee is not required to provide the information mentioned in paragraph (a) or subparagraph (b)(i) unless a record of it is in the trustee's possession, power or control—see paragraph (5)(b). (4) For paragraph (2)(a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2) is as follows: (a) the operative time for the payment split; (b) if the payment split is under subparagraph 90XJ(1)(c)(i) or (ii) or 90YN(1)(c)(i) or (ii) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the payment phase at the appropriate date—the amount that, under subregulation 58(6) or 58D(3), a person is entitled to be paid from each splittable payment that becomes payable in respect of the interest; (c) if the payment split is under subparagraph 90XJ(1)(c)(i) or 90YN(1)(c)(i) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the growth phase at the appropriate date: (i) the base amount specified in the relevant superannuation agreement or flag lifting agreement in relation to the interest; and (ii) if applicable, the adjusted base amount at the appropriate date; (d) if the payment split is under subparagraph 90XJ(1)(c)(ii) or 90YN(1)(c)(ii) of the Act and the interest was in the growth phase at the appropriate date: (i) the amount set out in the document served on the trustee under paragraph 90XI(1)(b) or 90YM(1)(b) of the Act; and (ii) if applicable, the adjusted base amount at the appropriate date; (e) if the payment split is under subparagraph 90XJ(1)(c)(iii) or 90YN(1)(c)(iii) of the Act or under a splitting order made under paragraph 90XT(1)(b) or 90YY(1)(b) of the Act—the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest. (5) The trustee is not required to provide information mentioned in this regulation to an applicant in any of the following circumstances: (a) if the application for information specifically requests the trustee to provide the information mentioned in paragraph (2)(ea) to the applicant, the trustee is not required to provide any other information mentioned in this regulation to the applicant; (b) the trustee is not required to provide the information mentioned in paragraph (3)(a) or subparagraph (3)(b)(i) to the applicant unless a record of that information is in the trustee's possession, power or control. 68 Information about small superannuation accounts interests (Act s 90XZB, s 90YZR) (1) This regulation applies in relation to a superannuation interest of a member in an account within the meaning of the Small Superannuation Accounts Act 1995. (2) For subsections 90XZB(3) and 90YZR(3) of the Act, the information that must be provided to an applicant by the trustee of the plan is a statement setting out the amount of the account balance of the member's account at the date when the application for information is received by the trustee. 68A Information about certain superannuation interests in relation to which an agreement or splitting order applies (Act s 90XZB, s 90YZR) (1) This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if subregulation (2) or (3) applies to the interest. (2) This subregulation applies to a superannuation interest of a member of an eligible superannuation plan if: (a) the interest is identified in a superannuation agreement or flag lifting agreement; and (b) the agreement specifies, under subparagraph 90XJ(1)(c)(i) or 90YN(1)(c)(i) of the Act, an amount as a base amount or, under subparagraph 90XJ(1)(c)(ii) or 90YN(1)(c)(ii) of the Act, a method by which such a base amount can be calculated; and (c) the agreement has been served on the trustee of the plan in accordance with section 90XI or 90YM of the Act; and (d) the agreement does not relate to an earlier marriage or de facto relationship of the member spouse; and (e) the agreement has not been terminated or set aside. (3) This subregulation applies to a superannuation interest of a member of an eligible superannuation plan if: (a) a splitting order in relation to the interest has been made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act; and (b) the order does not relate to an earlier marriage or de facto relationship of the member spouse; and (c) the order has not been set aside. (4) For subsections 90XZB(3) and 90YZR(3) of the Act, if an application is made under section 90XZB or 90YZR of the Act to the trustee of the plan by a person (the applicant) who is entitled to be paid an amount whenever a splittable payment becomes payable in respect of the interest, the information about the interest that must be provided to the applicant by the trustee is the applicable commutation factor, at the date when the application for information is received by the trustee and at the next 2 anniversaries of that date, for converting any pension benefit payable in respect of the interest to a lump sum. 68B How and when trustee must provide information (1) Information about a superannuation interest that is provided by the trustee of an eligible superannuation plan to an eligible person under subsection 90XZB(3) or 90YZR(3) of the Act and this Division must be stated in a document that: (a) is addressed to the person; and (b) is given to the person within a reasonable time after the application for information is received by the trustee. Note: Document is defined in section 2B of the Acts Interpretation Act 1901. See also sections 28A and 29 of that Act for ways of giving a document to a person. (2) A document stating information about a superannuation interest that is provided by the trustee to an eligible person under subsection 90XZB(3) or 90YZR(3) of the Act and this Division is evidence: (a) of the information stated in it; and (b) that the document was provided to the person to whom it is addressed. 69 Secondary government trustee not required to provide information (Act s 90XZB, s 90YZR) (1) Subject to subregulation (2), a secondary government trustee of an eligible superannuation plan is not required to provide any information to an applicant, under section 90XZB or 90YZR of the Act, about a superannuation interest of a member of the plan. (2) Subregulation (1) does not apply to a secondary government trustee of the scheme constituted by the Parliamentary Contributory Superannuation Act 1948. 70 Information to be provided by trustee following service of agreement or order (Act s 90XZB, s 90YZR) (1) This regulation applies to the trustee of an eligible superannuation plan, other than: (a) a regulated superannuation fund; or (b) an approved deposit fund; or (c) an RSA; or (d) an account within the meaning of the Small Superannuation Accounts Act 1995. (2) For subsections 90XZB(7) and 90YZR(7) of the Act, if the trustee is served with a copy of a superannuation agreement, flag lifting agreement or splitting order, that deals with a member spouse's superannuation interest in the plan, the trustee must, as soon as practicable after the operative time for the payment split under the agreement or order, give to the non‑member spouse in relation to the superannuation interest a written notice stating the following information: (a) the contact details for the plan; (b) if the interest is not a percentage‑only interest: (i) the base amount (if any) allocated to the non‑member spouse under the agreement or order; and (ii) the method by which the base amount (if any) will be adjusted on an ongoing basis; and (iii) the percentage (if any) specified in the agreement or order that is to apply to all splittable payments in respect of the interest; (c) if the interest is a percentage‑only interest: (i) the percentage specified in the agreement or order; and (ii) if the payment split is under a superannuation agreement or flag lifting agreement, whether the percentage is to apply for the purposes of subparagraph 90XJ(1)(b)(i) or 90YN(1)(b)(i) (as the case may be) of the Act; and (iii) if the payment split is under a splitting order, whether the order is made under paragraph 90XT(1)(c) or 90YY(1)(c) (as the case may be) of the Act; (d) the circumstances in which the entitlement of the non‑member spouse will become payable; (e) details of any fee payable by the non‑member spouse under regulation 59, and arrangements for the payment of any such fee. 71 Information to be provided by trustee at end of financial year (1) This regulation applies in relation to a superannuation interest if: (a) the interest is in a superannuation fund that is not a regulated superannuation fund; and (b) the interest is not a percentage‑only interest; and (ba) the interest is subject to a payment split under subparagraph 90XJ(1)(c)(i) or (ii) or 90YN(1)(c)(i) or (ii) of the Act or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act; and (c) the interest is in the growth phase during a particular financial year. (2) Unless the payment split is under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse's entitlement has been satisfied as required by Division 2.2, the trustee of the plan must give the following information to the non‑member spouse in relation to the superannuation interest for each financial year in which the interest is in the growth phase: (a) the value of the adjusted base amount applicable to the non‑member spouse at the end of the financial year; (b) the amount of the adjustment in the financial year; (c) the interest rate that applied, under Division 6.1A, to the superannuation interest for the financial year. (3) The trustee must give the information to the non‑member spouse not later than 6 months after the end of the relevant financial year. Penalty for subregulation (3): 1 penalty unit. 72 Notice to trustee by non‑member spouse (1) The non‑member spouse in relation to a superannuation interest that is subject to a payment split or payment flag must notify the trustee of the eligible superannuation plan in which the interest is held of the following matters: (a) the non‑member spouse's full name; (b) the non‑member spouse's postal address and, if this address changes, details of the changed postal address; (c) if the interest is subject to a payment split: (i) the non‑member spouse's date of birth; and (ii) whether the non‑member spouse is a member of the plan and, if so, the non‑member spouse's membership number, if known. (2) The notice must: (a) be in writing; and (b) be signed by the non‑member spouse; and (c) state the date when it is given. (3) The non‑member spouse must give the notice to the trustee: (a) as soon as practicable after the copy of the relevant superannuation agreement, flag lifting agreement or payment flag is served on the trustee, or the splitting order is made; and (b) if the notice is to give details of a changed postal address for the non‑member spouse—as soon as practicable after the change in address occurs. Part 8—Application, saving and transitional provisions 73 Purpose of Part 8 This Part makes application, saving and transitional arrangements in relation to amendments of these Regulations. 74 Amendments made by Family Law (Superannuation) Amendment (ABS) Regulation 2013 (1) This regulation applies to an adjustment period that begins or ends in the financial year beginning on 1 July 2013. (2) The interest rate for the adjustment period must be: (a) for subregulation 45D(3)—a rate determined by the Australian Government Actuary that is 2.5 percentage points above the amended percentage change; and (b) for subregulation 45D(4)—a rate calculated in accordance with a method determined by the Australian Government Actuary that provides for calculation of a rate by reference to a rate that is 2.5 percentage points above the amended percentage change; and (c) for subregulation 45D(6), when the adjustment period commences before 30 June 2013 and ends during the financial year beginning on 1 July 2013—a rate calculated in accordance with a method determined by the Australian Government Actuary that provides for calculation of a rate by reference to the followings rates: (i) a rate that is 2.5 percentage points above the percentage change in the original estimate of full‑time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics, during the year ending with the February 2012 quarter; (ii) a rate that is 2.5 percentage points above the amended percentage change; and (d) for subregulation 45D(6), when the adjustment period commences before 30 June 2014 and ends during the financial year beginning on 1 July 2014—a rate calculated in accordance with a method determined by the Australian Government Actuary that provides for calculation of a rate by reference to the following rates: (i) a rate that is 2.5 percentage points above the amended percentage change; (ii) a rate that is 2.5 percentage points above the percentage change in the original estimate of full‑time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics, during the year ending with the November 2013 quarter. (3) In this regulation, the amended percentage change is worked out using the formula: where: February OTE means the original estimate of full‑time adult ordinary time earnings for all persons in Australia published by the Australian Bureau of Statistics for the February 2012 quarter. November OTE means the original estimate of full‑time adult ordinary time earnings for all persons in Australia published by the Australian Bureau of Statistics for the November 2012 quarter. 75 Amendments made by Family Law (Superannuation) Amendment (Unsplittable Interests) Regulations 2023 Paragraph 11(2)(c), as added by the Family Law (Superannuation) Amendment (Unsplittable Interests) Regulations 2023, applies in relation to a superannuation interest identified in an agreement or a court order under Part VIIIB or VIIIC of the Act, that: (a) provides for a payment split in respect of that interest; and (b) is made on or after the commencement of that instrument. Schedule 1—Forms Form 1—Notice to trustee that non‑member spouse's entitlement under agreement or order satisfied (subregulations 14H(2) and (3)) NOTICE TO TRUSTEE THAT NON‑MEMBER SPOUSE'S ENTITLEMENT IS SATISFIED IN RESPECT OF PARTICULAR PAYMENT SPLIT TO the trustee of [name of eligible superannuation plan]: IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse] Part A—Superannuation interest in a regulated superannuation fund, exempt public sector superannuation scheme, approved deposit fund, RSA or superannuation annuity [Complete Part A if the superannuation interest is in a regulated superannuation fund, exempt public sector superannuation scheme, approved deposit fund, RSA or superannuation annuity] I, [name], the non‑member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], give notice that: *1. I have received from [name of member spouse] the amount of [amount] in satisfaction of my entitlement in respect of the payment split. OR *1. [Name of member spouse] has paid the amount of [amount] to a regulated superannuation fund or an RSA, to be held for my benefit, in satisfaction of my entitlement in respect of the payment split. 2. I received independent legal advice from a legal practitioner explaining that the payment to me is in substitution for: (a) any entitlement I have to receive an amount of money from a splittable payment that becomes payable in respect of the superannuation interest; or (b) any right I have to make a request under the payment split provisions of the Superannuation Industry (Supervision) Regulations 1994 to have a new interest created in the eligible superannuation plan in which the member spouse has the superannuation interest, or to request the trustee of that plan to transfer an amount to another eligible superannuation plan to be held for my benefit. Part B —Superannuation interest in a superannuation fund other than an interest in a regulated superannuation fund or an exempt public sector superannuation scheme [Complete Part B if the superannuation interest is in a superannuation fund that is not a regulated superannuation fund or exempt public sector superannuation scheme] I, [name], the non‑member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], give notice that: 1. I have received from [name of member spouse] the amount of [amount] in satisfaction of my entitlement in respect of the payment split. 2. I received independent legal advice from a legal practitioner explaining that the payment to me is in substitution for any entitlement I have to receive an amount of money from a splittable payment that becomes payable in respect of the superannuation interest. DATED: [signature of non‑member spouse] * Omit if not applicable Form 2—Request to trustee by non‑member spouse for payment, as lump sum, of all or part of remaining adjusted base amount (regulation 51) REQUEST TO TRUSTEE BY NON‑MEMBER SPOUSE FOR PAYMENT, AS LUMP SUM, OF ALL OR PART OF REMAINING ADJUSTED BASE AMOUNT TO the trustee of [name of eligible superannuation plan]: IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse] I, [name], the non‑member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], being entitled to be paid, as a lump sum, an amount under paragraph 50(2)(a) of the Family Law (Superannuation) Regulations 2001, request that I be paid, as a further lump sum, *the whole/*a specified proportion, being [specify the proportion that is to be paid as a lump sum], of the remaining amount of the adjusted base amount applicable to me. DATED: [signature of non‑member spouse] * Omit if not applicable Form 3—Request to trustee by non‑member spouse for payment, as lump sum, of all or part of adjusted base amount (regulations 52 and 53) REQUEST TO TRUSTEE BY NON‑MEMBER SPOUSE FOR PAYMENT, AS LUMP SUM, OF ALL OR PART OF ADJUSTED BASE AMOUNT TO the trustee of [name of eligible superannuation plan]: IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse] I, [name], the non‑member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], request that I be paid, as a lump sum, *the whole/*a specified proportion, being [specify the proportion that is to be paid as a lump sum], of the amount of the adjusted base amount applicable to me. DATED: [signature of non‑member spouse] * Omit if not applicable Form 4—Request to trustee by non‑member spouse for payment, as lump sum, of all or part of remaining base amount (regulation 58) REQUEST TO TRUSTEE BY NON‑MEMBER SPOUSE FOR PAYMENT, AS LUMP SUM, OF ALL OR PART OF REMAINING BASE AMOUNT TO the trustee of [name of eligible superannuation plan]: IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse] I, [name], the non‑member spouse in relation to the above superannuation interest, of [postal address], born on [date of birth], being entitled to be paid an amount under paragraph 57(2)(a) of the Family Law (Superannuation) Regulations 2001, request that I be paid, as a further lump sum, *the whole/*a specified proportion, being [specify the proportion that is to be paid as a lump sum], of the remaining base amount allocated to me in relation to the superannuation interest. DATED: [signature of non‑member spouse] * Omit if not applicable Form 5—Waiver notice in respect of payment split (regulation 60) Family Law Act 1975 subsection 90XZA(2) or 90YZQ(2) WAIVER NOTICE TO the trustee of [name of eligible superannuation plan]: IN RELATION TO the payment split, of which you were notified on [date when superannuation agreement, flag lifting agreement or splitting order was served on the trustee], in respect of the superannuation interest of [name of member spouse], date of birth [date of birth of member spouse] I, [name], of [postal address], born on [date of birth], give notice that I waive my entitlement to future payments under that payment split. DATED: [signature of non‑member spouse] Form 6—Declaration to accompany application to trustee for information about a superannuation interest (regulation 62) Family Law Act 1975 subsection 90XZB(2) or 90YZR(2) DECLARATION BY APPLICANT FOR INFORMATION ABOUT A SUPERANNUATION INTEREST I, [name], of [postal address], born on [date of birth], make the following declaration in support of my application to the trustee of [name of eligible superannuation plan from which information is sought] (the plan) for information about: *(a) my superannuation interest. *(b) a superannuation interest of [full name of member], born on [date of birth of member], who is a member of the plan. 1. I am: *(a) a member of the plan. *(b) the spouse of [name], who is a member of the plan. *(c) intending to enter into a superannuation agreement under [Part VIIIB/Part VIIIC] of the Family Law Act 1975 with [name], who is a member of the plan. 2. I require the information to: *(a) assist me to properly negotiate a superannuation agreement. *(b) assist me in connection with the operation of [Part VIIIB/Part VIIIC] of the Family Law Act 1975. DATED: [signature of person making declaration] * Omit if not applicable Schedule 1A—Value of non‑member spouse's entitlement for percentage‑only interest in superannuation fund or approved deposit fund in payment phase (subregulation 14N(7)) Part 1—Preliminary 1 Application of Schedule 1A This Schedule sets out the method for working out the value at a particular time of a non‑member spouse's entitlement for a percentage‑only interest in a superannuation fund or an approved deposit fund in the payment phase. 2 Definitions In this Schedule: accrued benefit multiple at payment means the member spouse's accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the new interest is created, or the amount is transferred or rolled over or paid to the non‑member spouse, or a separate entitlement for the non‑member spouse arose. accrued benefit multiple at separation means the member spouse's accrued benefit multiple, as defined in the governing rules of the eligible superannuation plan in which the superannuation interest is held, at the date when the member spouse and non‑member spouse separated or, if there have been 2 or more separations, at the date of the most recent separation. F means the amount of any fees payable by the non‑member spouse under regulation 59. m means the number of completed months of the member spouse's age that are not included in the completed years at the date mentioned in the definition of the factor Ry. OB means the amount of the other benefit payable to the member spouse in relation to the interest multiplied by the relevant discount valuation factor that applies under clause 4 of Schedule 6. Py+m means the pension valuation factor under Schedule 4 that applies to the particular pension payable to the member spouse at the member spouse's age at the date when the new interest is created, or the amount is transferred or rolled over or paid to the non‑member spouse, or a separate entitlement for the non‑member spouse arose. r means: (a) if there is a surviving spouse of the member spouse—the reversionary percentage that would be payable to the surviving spouse if the member spouse had died on the day when the new interest is created, or the amount is transferred or rolled over or paid to the non‑member spouse, or a separate entitlement for the non‑member spouse arose; and (b) in any other case—zero. Ry means the reversion valuation factor mentioned in clause 5 of this Schedule that applies to the pension and the member spouse's age in completed years at the date when the new interest is created, or the amount is transferred or rolled over or paid to the non‑member spouse, or a separate entitlement for the non‑member spouse arose. Ry+1 means the reversion valuation factor mentioned in clause 5 of this Schedule that applies to the pension and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Ry. X means the percentage specified in the relevant superannuation agreement, flag lifting agreement or splitting order. YP means the amount of pension payable each year to the member spouse. Part 2—Method for subparagraphs 90XJ(1)(b)(i) and 90YN(1)(b)(i), and paragraphs 90XT(1)(c) and 90YY(1)(c), of the Act 3 Method for subparagraphs 90XJ(1)(b)(i) and 90YN(1)(b)(i), and paragraphs 90XT(1)(c) and 90YY(1)(c), of the Act (1) If no benefit other than a pension is payable to the member spouse in relation to the interest, the value at a particular time of the non‑member spouse's entitlement in relation to the interest is (2) If another benefit, in addition to a pension, is payable to the member spouse in relation to the interest, the value at a particular time of the non‑member spouse's entitlement in relation to the interest is: (3) For subclauses (1) and (2), the reversion valuation factor (Ry+m) at the particular time is: (4) In applying the factor Py+m in the formula in subclauses (1) and (2), a reference in Schedule 4 to 'the relevant date' is to be read as if it were a reference to 'the date when the new interest was created, or the amount was transferred or rolled over or paid to the non‑member spouse, or a separate entitlement for the non‑member spouse arose'. (5) In applying the factor OB in the formula in subclause (2): (a) a reference in clause 4 of Schedule 6 to 'the lump sum' or 'a lump sum' is to be read as if it were a reference to 'the other benefit payable to the member spouse in relation to the superannuation interest'; and (b) the minimum deferral period, in relation to the other benefit payable to the member spouse in relation to the superannuation interest, is the minimum period of time until the other benefit is payable. Part 3—Method for subparagraphs 90XJ(1)(b)(ii) and 90YN(1)(b)(ii), and paragraphs 90XT(1)(b) and 90YY(1)(b), of the Act 4 Method for subparagraphs 90XJ(1)(b)(ii) and 90YN(1)(b)(ii), and paragraphs 90XT(1)(b) and 90YY(1)(b), of the Act (1) If no benefit other than a pension is payable to the member spouse in relation to the interest, the value at a particular time of the non‑member spouse's entitlement in relation to the interest is: (2) If another benefit, in addition to a pension, is payable to the member spouse in relation to the interest, the value at a particular time of the non‑member spouse's entitlement in relation to the interest is: (3) For subclauses (1) and (2), the reversion valuation factor (Ry+m) at the particular time is: (4) In applying the factor Py+m in the formula in subclauses (1) and (2), a reference in Schedule 4 to 'the relevant date' is to be read as if it were a reference to 'the date when the new interest was created, or the amount was transferred or rolled over or paid to the non‑member spouse, or a separate entitlement for the non‑member spouse arose'. (5) In applying the factor OB in the formula in subclause (2): (a) a reference in clause 4 of Schedule 6 to 'the lump sum' or 'a lump sum' is to be read as if it were a reference to 'the other benefit payable to the member spouse in relation to the superannuation interest'; and (b) the minimum deferral period, in relation to the other benefit payable to the member spouse in relation to the superannuation interest, is the minimum period of time until the other benefit is payable. Part 4—Reversion valuation factors 5 Reversion valuation factors (1) The table in this clause sets out the reversion valuation factors. (2) The factors in columns 2 and 3 apply if the pension is indexed in accordance with the consumer price index. (3) The factors in columns 4 and 5 apply if the pension is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics). Age at particular time (in completed years) Reversion valuation factors CPI indexed pension Wage indexed pension Males Females Males Females 18 1.5215 0.7388 3.4170 1.6920 19 1.5619 0.7610 3.4742 1.7240 20 1.6016 0.7834 3.5295 1.7559 21 1.6424 0.8065 3.5857 1.7884 22 1.6848 0.8310 3.6433 1.8223 23 1.7287 0.8567 3.7023 1.8575 24 1.7744 0.8838 3.7628 1.8939 25 1.8218 0.9119 3.8248 1.9312 26 1.8710 0.9410 3.8883 1.9694 27 1.9221 0.9711 3.9534 2.0083 28 1.9752 1.0021 4.0202 2.0478 29 2.0303 1.0341 4.0887 2.0880 30 2.0875 1.0669 4.1588 2.1287 31 2.1469 1.1005 4.2306 2.1698 32 2.2085 1.1351 4.3042 2.2115 33 2.2722 1.1705 4.3792 2.2536 34 2.3382 1.2068 4.4560 2.2962 35 2.4065 1.2443 4.5342 2.3395 36 2.4770 1.2828 4.6140 2.3834 37 2.5498 1.3224 4.6953 2.4279 38 2.6251 1.3631 4.7781 2.4730 39 2.7026 1.4047 4.8621 2.5185 40 2.7825 1.4475 4.9477 2.5644 41 2.8649 1.4912 5.0345 2.6108 42 2.9496 1.5359 5.1225 2.6573 43 3.0366 1.5814 5.2115 2.7041 44 3.1258 1.6276 5.3014 2.7507 45 3.2171 1.6745 5.3920 2.7972 46 3.3104 1.7219 5.4830 2.8434 47 3.4055 1.7699 5.5741 2.8893 48 3.5020 1.8182 5.6649 2.9346 49 3.5997 1.8667 5.7551 2.9793 50 3.6984 1.9154 5.8443 3.0231 51 3.7976 1.9641 5.9319 3.0660 52 3.8970 2.0128 6.0176 3.1078 53 3.9962 2.0613 6.1010 3.1484 54 4.0949 2.1095 6.1816 3.1878 55 4.1928 2.1572 6.2590 3.2256 56 4.2893 2.2046 6.3328 3.2621 57 4.3840 2.2513 6.4023 3.2969 58 4.4765 2.2975 6.4672 3.3301 59 4.5662 2.3430 6.5269 3.3617 60 4.6525 2.3880 6.5806 3.3918 61 4.7346 2.4322 6.6278 3.4201 62 4.8121 2.4755 6.6680 3.4467 63 4.8843 2.5179 6.7005 3.4712 64 4.9505 2.5589 6.7247 3.4935 65 5.0102 2.5985 6.7402 3.5135 66 5.0628 2.6364 6.7465 3.5309 67 5.1079 2.6725 6.7434 3.5456 68 5.1451 2.7064 6.7305 3.5574 69 5.1739 2.7382 6.7077 3.5663 70 5.1944 2.7676 6.6751 3.5722 71 5.2064 2.7947 6.6328 3.5751 72 5.2103 2.8195 6.5814 3.5751 73 5.2062 2.8420 6.5213 3.5725 74 5.1945 2.8622 6.4531 3.5672 75 5.1750 2.8799 6.3767 3.5589 76 5.1470 2.8946 6.2916 3.5475 77 5.1094 2.9059 6.1968 3.5327 78 5.0615 2.9135 6.0919 3.5141 79 5.0027 2.9171 5.9767 3.4916 80 4.9332 2.9168 5.8515 3.4654 81 4.8531 2.9132 5.7166 3.4364 82 4.7627 2.9071 5.5727 3.4052 83 4.6625 2.8989 5.4205 3.3724 84 4.5533 2.8889 5.2611 3.3383 85 4.4359 2.8767 5.0953 3.3026 86 4.3113 2.8621 4.9246 3.2649 87 4.1808 2.8441 4.7502 3.2244 88 4.0454 2.8212 4.5735 3.1795 89 3.9062 2.7917 4.3954 3.1285 90 3.7641 2.7544 4.2170 3.0700 91 3.6195 2.7082 4.0386 3.0031 92 3.4748 2.6531 3.8625 2.9273 93 3.3330 2.5889 3.6913 2.8427 94 3.1955 2.5155 3.5259 2.7488 95 3.0604 2.4319 3.3640 2.6446 96 2.9247 2.3366 3.2023 2.5285 97 2.7857 2.2275 3.0378 2.3982 98 2.6399 2.1015 2.8665 2.2507 99 2.4823 1.9549 2.6832 2.0821 Schedule 2—Method for determining gross value of defined benefit interest (regulation 29) Part 1—Preliminary 1 Application of Schedule 2 This Schedule sets out the method for determining the gross value, at the relevant date, of a defined benefit interest that is in the growth phase at that date. 2 Method (1) If the superannuation interest is held as a result of employment in which the member spouse is still engaged at the relevant date, the method is: (a) if the benefit in respect of the interest is payable only as a lump sum—the method set out in Part 2 of this Schedule; and (b) if the benefit in respect of the interest is payable only as a pension—the method set out in Part 3 of this Schedule; and (c) if the benefit in respect of the interest is payable as a lump sum, a pension, or a combination of a lump sum and a pension—the method set out in Part 4 of this Schedule. (2) If the superannuation interest is held as a result of employment in which the member spouse is no longer engaged at the relevant date and, under the governing rules of the plan in which the interest is held, the benefit in respect of the interest is payable on or after the relevant date, the method is: (a) if the benefit in respect of the interest is payable only as a lump sum—the method set out in Part 5 of this Schedule; and (b) if the benefit in respect of the interest is payable only as a pension—the method set out in Part 6 of this Schedule; and (c) if the benefit in respect of the interest is payable as a lump sum, a pension, or a combination of a lump sum and a pension—the method set out in Part 7 of this Schedule. (3) For the purposes of subclause (1) and (2), a member spouse is taken to be engaged in employment at the relevant date if, at that date, the member spouse is on paid or unpaid leave from, or for any reason suspended in relation to, that employment. Part 2—Interest relating to current employment—benefit payable only as lump sum 3 Method (1) The method is: where: A is the value of the lump sum benefit that has accrued in respect of the interest at the relevant date, being the product of the member spouse's accrued benefit multiple for a lump sum, as provided by the trustee under section 90XZB or 90YZR of the Act, and the salary figure on which benefits in respect of the interest, at that date, would be based, assuming that the member spouse were eligible to retire at that date. fy+m is the lump sum valuation factor calculated in accordance with subclause (2). (2) For subclause (1), the lump sum valuation factor (fy+m) at the relevant date is calculated as follows: where: fy is the lump sum valuation factor mentioned in clause 4 of this Schedule that applies at the relevant date to the term remaining in complete years until the member spouse reaches the member's retirement age. m is the number of complete months of the remaining term that are not included in the remaining complete years at the relevant date. fy+1 is the lump sum valuation factor mentioned in clause 4 of this Schedule that would apply if the member spouse's term to retirement in complete years were one year more than the member spouse's term to retirement in complete years at the relevant date. 4 Lump sum valuation factors This clause sets out the lump sum valuation factors. Remaining term until retirement Lump sum valuation factors (in complete years) (all members) 44 0.3411 43 0.3497 42 0.3586 41 0.3677 40 0.3771 39 0.3869 38 0.3971 37 0.4077 36 0.4186 35 0.4301 34 0.4419 33 0.4542 32 0.4669 31 0.4800 30 0.4935 29 0.5065 28 0.5197 27 0.5333 26 0.5471 25 0.5612 24 0.5755 23 0.5903 22 0.6053 21 0.6207 20 0.6364 19 0.6525 18 0.6689 17 0.6857 16 0.7029 15 0.7204 14 0.7384 13 0.7567 12 0.7755 11 0.7947 10 0.8143 9 0.8345 8 0.8551 7 0.8763 6 0.8981 5 0.9206 4 0.9316 3 0.9446 2 0.9599 1 0.9782 0 1.0000 Part 3—Interest relating to current employment—benefit payable only as pension 5 Method (1) The method is: where: VN is the lump sum value of the accrued pension benefit in respect of the interest at the member's retirement age, calculated in accordance with subclause (2). fy+m is the lump sum valuation factor calculated in accordance with subclause 3(2) of this Schedule. (2) For subclause (1), the lump sum value of the accrued pension benefit in respect of the interest at the member's retirement age (VN) is calculated as follows: where: B is the value of the pension benefit that had accrued in respect of the interest at the relevant date, being the product of the member's accrued benefit multiple for a pension, as provided by the trustee under section 90XZB or 90YZR of the Act, and the salary figure on which benefits in respect of the interest, at that date, would be based, assuming that the member were eligible to retire at that date. Pra is the pension valuation factor mentioned in the relevant clause of this Part that applies to the pension and the member's retirement age. Rsa is the reversion valuation factor mentioned in the relevant clause of this Part that applies to the pension and the member's age in completed years at the relevant date. r is the proportion of payments in respect of the interest that a non‑member spouse would receive as the reversionary beneficiary of the member, on the death of the member, as provided by the trustee under section 90XZB or 90YZR of the Act. 6 Valuation factors—no guarantee period—pension not indexed The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is not indexed. Member's retirement age Pension valuation factors No guarantee period—pension not indexed Male Female 55 12.0764 12.9364 56 11.8886 12.7841 57 11.6943 12.6252 58 11.4934 12.4596 59 11.2862 12.2869 60 11.0730 12.1068 61 10.8540 11.9191 62 10.6295 11.7238 63 10.3997 11.5207 64 10.1653 11.3099 65 9.9265 11.0912 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period—pension not indexed Male Female Up to 40 1.610 0.691 41 1.557 0.649 42 1.503 0.608 43 1.449 0.567 44 1.396 0.525 45 1.342 0.484 46 1.288 0.442 47 1.235 0.401 48 1.181 0.359 49 1.127 0.318 50 1.073 0.276 51 0.912 0.235 52 0.751 0.193 53 0.590 0.152 54 0.429 0.111 55 and over 0.268 0.069 7 Valuation factors—no guarantee period—CPI indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is indexed in accordance with the consumer price index. Member's retirement age Pension valuation factors No guarantee period—CPI indexed pension Male Female 55 15.7468 17.2848 56 15.4181 16.9910 57 15.0833 16.6899 58 14.7428 16.3814 59 14.3970 16.0652 60 14.0464 15.7414 61 13.6917 15.4099 62 13.3333 15.0707 63 12.9718 14.7241 64 12.6079 14.3703 65 12.2423 14.0096 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period—CPI indexed pension Male Female Up to 40 2.761 1.189 41 2.669 1.118 42 2.577 1.046 43 2.485 0.975 44 2.393 0.904 45 2.301 0.832 46 2.209 0.761 47 2.117 0.690 48 2.025 0.618 49 1.933 0.547 50 1.841 0.476 51 1.565 0.404 52 1.288 0.333 53 1.012 0.262 54 0.736 0.190 55 and over 0.460 0.119 7A Valuation factors—no guarantee period—CPI indexed pension with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is indexed in accordance with the consumer price index with a cap of 5%. Member's retirement age Pension valuation factors No guarantee period CPI indexed pension with 5% cap Male Female 55 15.5689 17.0704 56 15.2477 16.7844 57 14.9204 16.4912 58 14.5872 16.1904 59 14.2486 15.8821 60 13.9052 15.5660 61 13.5575 15.2421 62 13.2060 14.9106 63 12.8512 14.5715 64 12.4939 14.2252 65 12.1346 13.8719 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period CPI indexed pension with 5% cap Male Female Up to 40 2.700 1.162 41 2.610 1.093 42 2.520 1.023 43 2.430 0.953 44 2.340 0.883 45 2.250 0.814 46 2.160 0.744 47 2.070 0.674 48 1.980 0.604 49 1.890 0.535 50 1.800 0.465 51 1.530 0.395 52 1.260 0.325 53 0.990 0.256 54 0.720 0.186 55 and over 0.450 0.116 8 Valuation factors—no guarantee period—CPI indexed pension plus 1% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is indexed in accordance with the consumer price index plus 1%. Pension valuation factors No guarantee period—CPI indexed pension plus 1% Member's retirement age Male Female 55 17.7072 19.6689 56 17.2911 19.2823 57 16.8702 18.8890 58 16.4451 18.4890 59 16.0162 18.0823 60 15.5842 17.6687 61 15.1500 17.2484 62 14.7139 16.8216 63 14.2768 16.3886 64 13.8395 15.9499 65 13.4026 15.5057 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period—CPI indexed pension plus 1% Male Female Up to 40 3.469 1.497 41 3.354 1.407 42 3.238 1.317 43 3.122 1.228 44 3.007 1.138 45 2.891 1.048 46 2.776 0.958 47 2.660 0.868 48 2.544 0.779 49 2.429 0.689 50 2.313 0.599 51 1.966 0.509 52 1.619 0.419 53 1.272 0.329 54 0.925 0.240 55 and over 0.578 0.150 9 Valuation factors—no guarantee period—CPI indexed pension plus 1% with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is indexed in accordance with the consumer price index plus 1% with a cap of 5%. Member's retirement age Pension valuation factors No guarantee period CPI indexed pension plus 1% with 5% cap Male Female 55 17.2871 19.1547 56 16.8903 18.7889 57 16.4885 18.4163 58 16.0820 18.0367 59 15.6714 17.6501 60 15.2573 17.2564 61 14.8404 16.8558 62 14.4213 16.4483 63 14.0007 16.0344 64 13.5793 15.6143 65 13.1579 15.1883 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period CPI indexed pension plus 1% with 5% cap Male Female Up to 40 3.313 1.429 41 3.202 1.343 42 3.092 1.257 43 2.981 1.172 44 2.871 1.086 45 2.760 1.000 46 2.650 0.914 47 2.540 0.829 48 2.429 0.743 49 2.319 0.657 50 2.208 0.572 51 1.877 0.486 52 1.546 0.400 53 1.215 0.314 54 0.883 0.229 55 and over 0.552 0.143 10 Valuation factors—no guarantee period—wage indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics). Member's retirement age Pension valuation factors No guarantee period—wage indexed pension Male Female 55 18.8258 21.0463 56 18.3565 20.6017 57 17.8836 20.1513 58 17.4074 19.6949 59 16.9288 19.2325 60 16.4483 18.7641 61 15.9668 18.2900 62 15.4849 17.8104 63 15.0034 17.3256 64 14.5232 16.8361 65 14.0448 16.3424 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period—wage indexed pension Male Female Up to 40 3.900 1.685 41 3.770 1.584 42 3.640 1.483 43 3.510 1.382 44 3.380 1.280 45 3.250 1.179 46 3.120 1.078 47 2.990 0.977 48 2.860 0.876 49 2.730 0.775 50 2.600 0.674 51 2.210 0.573 52 1.820 0.472 53 1.430 0.371 54 1.040 0.270 55 and over 0.650 0.168 11 Valuation factors—no guarantee period—pension indexed at 3% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is indexed at 3%. Member's retirement age Pension valuation factors No guarantee period—pension indexed at 3% Male Female 55 16.6841 18.4198 56 16.3146 18.0830 57 15.9395 17.7392 58 15.5593 17.3881 59 15.1744 17.0298 60 14.7856 16.6641 61 14.3934 16.2910 62 13.9983 15.9108 63 13.6010 15.5236 64 13.2024 15.1299 65 12.8029 14.7298 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period—pension indexed at 3% Male Female Up to 40 3.092 1.333 41 2.989 1.253 42 2.886 1.173 43 2.783 1.093 44 2.680 1.013 45 2.577 0.933 46 2.474 0.853 47 2.371 0.773 48 2.268 0.693 49 2.164 0.613 50 2.061 0.533 51 1.752 0.453 52 1.443 0.373 53 1.134 0.293 54 0.825 0.213 55 and over 0.515 0.133 12 Valuation factors—no guarantee period—pension indexed at 5% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has no guarantee period; and (b) is indexed at 5%. Member's retirement age Pension valuation factors No guarantee period—pension indexed at 5% Male Female 55 21.3952 24.2520 56 20.7954 23.6617 57 20.1954 23.0683 58 19.5956 22.4716 59 18.9968 21.8718 60 18.4000 21.2690 61 17.8059 20.6634 62 17.2152 20.0555 63 16.6287 19.4457 64 16.0475 18.8345 65 15.4722 18.2227 Member's age at relevant date (in completed years) Reversion valuation factors No guarantee period—pension indexed at 5% Male Female Up to 40 4.953 2.145 41 4.788 2.017 42 4.623 1.888 43 4.458 1.759 44 4.293 1.631 45 4.128 1.502 46 3.963 1.373 47 3.798 1.244 48 3.633 1.116 49 3.467 0.987 50 3.302 0.858 51 2.807 0.729 52 2.312 0.601 53 1.816 0.472 54 1.321 0.343 55 and over 0.826 0.215 13 Valuation factors—5‑year guarantee period—pension not indexed The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is not indexed. Member's retirement age Pension valuation factors 5‑year guarantee period—pension not indexed Male Female 55 12.1315 12.9696 56 11.9499 12.8204 57 11.7625 12.6651 58 11.5694 12.5032 59 11.3710 12.3346 60 11.1674 12.1591 61 10.9591 11.9766 62 10.7465 11.7870 63 10.5298 11.5903 64 10.3097 11.3867 65 10.0866 11.1761 Member's age at relevant date (in completed years) Reversion valuation factors 5‑year guarantee period—pension not indexed Male Female Up to 40 1.539 0.662 41 1.488 0.623 42 1.436 0.583 43 1.385 0.543 44 1.334 0.503 45 1.283 0.464 46 1.231 0.424 47 1.180 0.384 48 1.129 0.344 49 1.077 0.305 50 1.026 0.265 51 0.872 0.225 52 0.718 0.185 53 0.564 0.146 54 0.410 0.106 55 and over 0.257 0.066 14 Valuation factors—5‑year guarantee period—CPI indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is indexed in accordance with the consumer price index. Member's retirement age Pension valuation factors 5‑year guarantee period—CPI indexed pension Male Female 55 15.8066 17.3207 56 15.4846 17.0304 57 15.1573 16.7331 58 14.8253 16.4286 59 14.4889 16.1170 60 14.1488 15.7981 61 13.8057 15.4722 62 13.4602 15.1392 63 13.1129 14.7996 64 12.7646 14.4537 65 12.4160 14.1017 Member's age at relevant date (in completed years) Reversion valuation factors 5‑year guarantee period—CPI indexed pension Male Female Up to 40 2.685 1.159 41 2.595 1.090 42 2.506 1.020 43 2.416 0.950 44 2.327 0.881 45 2.237 0.811 46 2.148 0.742 47 2.058 0.672 48 1.969 0.603 49 1.879 0.533 50 1.790 0.464 51 1.521 0.394 52 1.253 0.325 53 0.984 0.255 54 0.716 0.185 55 and over 0.447 0.116 14A Valuation factors—5‑year guarantee period—CPI indexed pension with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is indexed in accordance with the consumer price index with a cap of 5%. Member's retirement age Pension valuation factors 5‑year guarantee period CPI indexed pension with 5% cap Male Female 55 15.6284 17.1062 56 15.3140 16.8237 57 14.9942 16.5342 58 14.6694 16.2376 59 14.3403 15.9337 60 14.0073 15.6225 61 13.6712 15.3042 62 13.3325 14.9789 63 12.9919 14.6468 64 12.6500 14.3083 65 12.3077 13.9636 Member's age at relevant date Reversion valuation factors (in completed years) 5‑year guarantee period CPI indexed pension with 5% cap Male Female Up to 40 2.624 1.133 41 2.536 1.065 42 2.449 0.997 43 2.361 0.929 44 2.274 0.861 45 2.186 0.793 46 2.099 0.725 47 2.011 0.657 48 1.924 0.589 49 1.836 0.521 50 1.749 0.453 51 1.487 0.385 52 1.224 0.317 53 0.962 0.249 54 0.700 0.181 55 and over 0.437 0.113 15 Valuation factors—5‑year guarantee period—CPI indexed pension plus 1% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is indexed in accordance with the consumer price index plus 1%. Member's retirement age Pension valuation factors 5‑year guarantee period CPI indexed pension plus 1% Male Female 55 17.7689 19.7060 56 17.3598 19.3230 57 16.9467 18.9337 58 16.5303 18.5379 59 16.1111 18.1357 60 15.6900 17.7273 61 15.2677 17.3127 62 14.8450 16.8924 63 14.4226 16.4666 64 14.0013 16.0359 65 13.5820 15.6008 Member's age at relevant date (in completed years) Reversion valuation factors 5‑year guarantee period CPI indexed pension plus 1% Male Female Up to 40 3.391 1.467 41 3.278 1.379 42 3.165 1.291 43 3.052 1.203 44 2.939 1.115 45 2.826 1.027 46 2.713 0.939 47 2.600 0.851 48 2.487 0.763 49 2.374 0.675 50 2.261 0.587 51 1.922 0.499 52 1.583 0.411 53 1.243 0.323 54 0.904 0.235 55 and over 0.565 0.147 16 Valuation factors—5‑year guarantee period—CPI indexed pension plus 1% with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is indexed in accordance with the consumer price index plus 1% with a cap of 5%. Member's retirement age Pension valuation factors 5‑year guarantee period CPI indexed pension plus 1% with 5% cap Male Female 55 17.3484 19.1916 56 16.9586 18.8294 57 16.5645 18.4606 58 16.1666 18.0852 59 15.7657 17.7032 60 15.3624 17.3147 61 14.9574 16.9197 62 14.5515 16.5186 63 14.1455 16.1118 64 13.7400 15.6998 65 13.3360 15.2828 Member's age at relevant date (in completed years) Reversion valuation factors 5‑year guarantee period CPI indexed pension plus 1% with 5% cap Male Female Up to 40 3.235 1.399 41 3.127 1.315 42 3.019 1.231 43 2.911 1.147 44 2.803 1.063 45 2.696 0.979 46 2.588 0.895 47 2.480 0.811 48 2.372 0.727 49 2.264 0.643 50 2.157 0.559 51 1.833 0.476 52 1.510 0.392 53 1.186 0.308 54 0.863 0.224 55 and over 0.539 0.140 17 Valuation factors—5‑year guarantee period—wage indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics). Member's retirement age Pension valuation factors 5‑year guarantee period—wage indexed pension Male Female 55 18.8886 21.0840 56 18.4263 20.6431 57 17.9613 20.1966 58 17.4940 19.7445 59 17.0252 19.2868 60 16.5558 18.8237 61 16.0865 18.3554 62 15.6182 17.8823 63 15.1515 17.4048 64 14.6876 16.9236 65 14.2271 16.4390 Member's age at relevant date (in completed years) Reversion valuation factors 5‑year guarantee period—wage indexed pension Male Female Up to 40 3.821 1.654 41 3.693 1.555 42 3.566 1.456 43 3.439 1.357 44 3.311 1.257 45 3.184 1.158 46 3.057 1.059 47 2.929 0.960 48 2.802 0.860 49 2.674 0.761 50 2.547 0.662 51 2.165 0.563 52 1.783 0.463 53 1.401 0.364 54 1.019 0.265 55 and over 0.637 0.165 18 Valuation factors—5‑year guarantee period—pension indexed at 3% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is indexed at 3%. Member's retirement age Pension valuation factors 5‑year guarantee period—pension indexed at 3% Male Female 55 16.7449 18.4563 56 16.3822 18.1231 57 16.0147 17.7831 58 15.6431 17.4362 59 15.2678 17.0824 60 14.8897 16.7217 61 14.5093 16.3543 62 14.1273 15.9804 63 13.7445 15.6004 64 13.3616 15.2146 65 12.9794 14.8234 Member's age at relevant date (in completed years) Reversion valuation factors 5‑year guarantee period—pension indexed at 3% Male Female Up to 40 3.015 1.303 41 2.914 1.225 42 2.814 1.147 43 2.713 1.068 44 2.613 0.990 45 2.512 0.912 46 2.412 0.834 47 2.311 0.756 48 2.211 0.677 49 2.110 0.599 50 2.010 0.521 51 1.708 0.443 52 1.407 0.365 53 1.105 0.287 54 0.804 0.208 55 and over 0.502 0.130 19 Valuation factors—5‑year guarantee period—pension indexed at 5% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 5‑year guarantee period; and (b) is indexed at 5%. Member's retirement age Pension valuation factors 5‑year guarantee period—pension indexed at 5% Male Female 55 21.4599 24.2910 56 20.8675 23.7045 57 20.2756 23.1151 58 19.6850 22.5228 59 19.0964 21.9279 60 18.5109 21.3304 61 17.9294 20.7309 62 17.3527 20.1297 63 16.7816 19.5275 64 16.2172 18.9248 65 15.6603 18.3224 Member's age at relevant date (in completed years) Reversion valuation factors 5‑year guarantee period—pension indexed at 5% Male Female Up to 40 4.873 2.115 41 4.710 1.988 42 4.548 1.861 43 4.385 1.734 44 4.223 1.607 45 4.061 1.480 46 3.898 1.354 47 3.736 1.227 48 3.573 1.100 49 3.411 0.973 50 3.249 0.846 51 2.761 0.719 52 2.274 0.592 53 1.787 0.465 54 1.299 0.338 55 and over 0.812 0.211 20 Valuation factors—10‑year guarantee period—pension not indexed The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is not indexed. Member's retirement age Pension valuation factors 10‑year guarantee period—pension not indexed Male Female 55 12.2909 13.0621 56 12.1271 12.9219 57 11.9595 12.7762 58 11.7882 12.6251 59 11.6138 12.4684 60 11.4366 12.3062 61 11.2571 12.1385 62 11.0757 11.9655 63 10.8928 11.7872 64 10.7090 11.6040 65 10.5246 11.4161 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period—pension not indexed Male Female Up to 40 1.369 0.596 41 1.323 0.560 42 1.278 0.525 43 1.232 0.489 44 1.187 0.453 45 1.141 0.417 46 1.095 0.382 47 1.050 0.346 48 1.004 0.310 49 0.958 0.274 50 0.913 0.239 51 0.776 0.203 52 0.639 0.167 53 0.502 0.131 54 0.365 0.095 55 and over 0.228 0.060 21 Valuation factors—10‑year guarantee period—CPI indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is indexed in accordance with the consumer price index. Member's retirement age Pension valuation factors 10‑year guarantee period—CPI indexed pension Male Female 55 15.9998 17.4328 56 15.6993 17.1533 57 15.3960 16.8677 58 15.0903 16.5763 59 14.7830 16.2791 60 14.4749 15.9764 61 14.1666 15.6684 62 13.8589 15.3555 63 13.5525 15.0382 64 13.2481 14.7170 65 12.9464 14.3924 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period—CPI indexed pension Male Female Up to 40 2.482 1.083 41 2.399 1.018 42 2.317 0.953 43 2.234 0.888 44 2.151 0.823 45 2.068 0.758 46 1.986 0.693 47 1.903 0.628 48 1.820 0.563 49 1.737 0.498 50 1.655 0.433 51 1.406 0.368 52 1.158 0.303 53 0.910 0.238 54 0.662 0.173 55 and over 0.414 0.108 21A Valuation factors—10‑year guarantee period—CPI indexed pension with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is indexed in accordance with the consumer price index with a cap of 5%. Member's retirement age Pension valuation factors 10‑year guarantee period CPI indexed pension with 5% cap Male Female 55 15.8202 17.2175 56 15.5271 16.9456 57 15.2310 16.6678 58 14.9325 16.3841 59 14.6322 16.0946 60 14.3309 15.7994 61 14.0294 15.4989 62 13.7282 15.1935 63 13.4281 14.8835 64 13.1299 14.5696 65 12.8342 14.2522 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period CPI indexed pension with 5% cap Male Female Up to 40 2.422 1.057 41 2.342 0.993 42 2.261 0.930 43 2.180 0.866 44 2.099 0.803 45 2.019 0.740 46 1.938 0.676 47 1.857 0.613 48 1.776 0.549 49 1.696 0.486 50 1.615 0.423 51 1.373 0.359 52 1.130 0.296 53 0.888 0.232 54 0.646 0.169 55 and over 0.404 0.106 22 Valuation factors—10‑year guarantee period—CPI indexed pension plus 1% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is indexed in accordance with the consumer price index plus 1%. Member's retirement age Pension valuation factors 10‑year guarantee period CPI indexed pension plus 1% Male Female 55 17.9774 19.8270 56 17.5915 19.4555 57 17.2041 19.0789 58 16.8162 18.6971 59 16.4284 18.3106 60 16.0417 17.9195 61 15.6570 17.5244 62 15.2751 17.1256 63 14.8967 16.7239 64 14.5228 16.3199 65 14.1540 15.9144 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period CPI indexed pension plus 1% Male Female Up to 40 3.175 1.387 41 3.069 1.303 42 2.963 1.220 43 2.857 1.137 44 2.752 1.054 45 2.646 0.971 46 2.540 0.887 47 2.434 0.804 48 2.328 0.721 49 2.222 0.638 50 2.117 0.555 51 1.799 0.471 52 1.482 0.388 53 1.164 0.305 54 0.847 0.222 55 and over 0.529 0.139 23 Valuation factors—10‑year guarantee period—CPI indexed pension plus 1% with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is indexed in accordance with the consumer price index plus 1% with a cap of 5%. Member's retirement age Pension valuation factors 10‑year guarantee period CPI indexed pension plus 1% with 5% cap Male Female 55 17.5537 19.3107 56 17.1868 18.9599 57 16.8181 18.6037 58 16.4483 18.2421 59 16.0783 17.8755 60 15.7088 17.5040 61 15.3409 17.1282 62 14.9752 16.7484 63 14.6125 16.3653 64 14.2537 15.9795 65 13.8995 15.5917 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period CPI indexed pension plus 1% with 5% cap Male Female Up to 40 3.021 1.319 41 2.920 1.240 42 2.820 1.161 43 2.719 1.082 44 2.618 1.002 45 2.518 0.923 46 2.417 0.844 47 2.316 0.765 48 2.215 0.686 49 2.115 0.607 50 2.014 0.528 51 1.712 0.448 52 1.410 0.369 53 1.108 0.290 54 0.806 0.211 55 and over 0.504 0.132 24 Valuation factors—10‑year guarantee period—wage indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics). Member's retirement age Pension valuation factors 10‑year guarantee period—wage indexed pension Male Female 55 19.1050 21.2096 56 18.6669 20.7807 57 18.2286 20.3474 58 17.7909 19.9099 59 17.3547 19.4684 60 16.9210 19.0233 61 16.4907 18.5752 62 16.0647 18.1245 63 15.6439 17.6720 64 15.2290 17.2185 65 14.8210 16.7647 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period—wage indexed pension Male Female Up to 40 3.597 1.572 41 3.477 1.478 42 3.357 1.383 43 3.237 1.289 44 3.118 1.195 45 2.998 1.100 46 2.878 1.006 47 2.758 0.912 48 2.638 0.817 49 2.518 0.723 50 2.398 0.629 51 2.038 0.535 52 1.679 0.440 53 1.319 0.346 54 0.959 0.252 55 and over 0.600 0.157 25 Valuation factors—10‑year guarantee period—pension indexed at 3% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is indexed at 3%. Member's retirement age Pension valuation factors 10‑year guarantee period—pension indexed at 3% Male Female 55 16.9455 18.5728 56 16.6052 18.2507 57 16.2626 17.9229 58 15.9184 17.5895 59 15.5734 17.2508 60 15.2284 16.9068 61 14.8841 16.5581 62 14.5414 16.2050 63 14.2010 15.8481 64 13.8637 15.4880 65 13.5303 15.1254 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period—pension indexed at 3% Male Female Up to 40 2.805 1.224 41 2.712 1.151 42 2.618 1.077 43 2.525 1.004 44 2.431 0.931 45 2.338 0.857 46 2.244 0.784 47 2.151 0.710 48 2.057 0.637 49 1.964 0.563 50 1.870 0.490 51 1.590 0.416 52 1.309 0.343 53 1.029 0.269 54 0.748 0.196 55 and over 0.468 0.122 26 Valuation factors—10‑year guarantee period—pension indexed at 5% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension: (a) has a 10‑year guarantee period; and (b) is indexed at 5%. Member's retirement age Pension valuation factors 10‑year guarantee period—pension indexed at 5% Male Female 55 21.6932 24.4263 56 21.1268 23.8528 57 20.5638 23.2776 58 20.0050 22.7011 59 19.4516 22.1236 60 18.9046 21.5456 61 18.3651 20.9678 62 17.8340 20.3908 63 17.3122 19.8154 64 16.8007 19.2427 65 16.3004 18.6734 Member's age at relevant date (in completed years) Reversion valuation factors 10‑year guarantee period—pension indexed at 5% Male Female Up to 40 4.635 2.029 41 4.481 1.907 42 4.326 1.785 43 4.172 1.664 44 4.017 1.542 45 3.863 1.420 46 3.708 1.298 47 3.554 1.177 48 3.399 1.055 49 3.245 0.933 50 3.090 0.812 51 2.627 0.690 52 2.163 0.568 53 1.700 0.446 54 1.236 0.325 55 and over 0.773 0.203 Part 4—Interest relating to current employment—benefit payable as combination of lump sum and pension 28 Method—no restriction on combination of lump sum and pension that may be taken (1) This clause applies if there is no provision in the eligible superannuation plan in which the interest is held restricting the proportion of the interest that may be taken as a lump sum or as a pension. Note: The method is based on the assumption that 50% of the interest will be taken as a lump sum and 50% of the interest will be taken as a pension. (2) The method is: where: PVls is the present value of the lump sum that would apply if the whole benefit were to be taken as a lump sum, calculated using the method set out in Part 2 of this Schedule. PVp is the present value of the pension that would apply if the whole benefit were to be taken as a pension, calculated using the method set out in Part 3 of this Schedule. 29 Method—restriction on proportion of pension that may be commuted to lump sum (1) This clause applies if: (a) the benefit in respect of the interest is payable as a pension; and (b) the governing rules of the eligible superannuation plan in which the interest is held restrict the proportion of the pension that may be commuted to a lump sum. (2) The method is: where: Maxls% is: (a) the maximum possible amount of pension that may be commuted to a lump sum, expressed as a percentage of the amount of the pension that would be payable if the whole benefit were to be taken as a pension; or (b) if the percentage calculated under paragraph (a) is greater than 50%—50%. PVls is the present value of the lump sum that would apply if the whole benefit could, and were to, be taken as a lump sum, calculated using the method set out in Part 2 of this Schedule. PVp is the present value of the pension that would apply if the whole benefit were to be taken as a pension, calculated using the method set out in Part 3 of this Schedule. 29A Method—restriction on lump sum amount that may be converted to pension (1) This clause applies if: (a) the benefit in respect of the interest is payable as a lump sum; and (b) the governing rules of the eligible superannuation plan in which the interest is held restrict the amount of the lump sum that may be converted to a pension. (2) The method is: where: Maxp% is: (a) the maximum possible amount of lump sum that may be converted to a pension expressed as a percentage of the amount of the lump sum that would be payable if the whole benefit were to be taken as a lump sum; or (b) if the percentage calculated under paragraph (a) is greater than 50%—50%. PVls is the present value of the lump sum that would apply if the whole benefit were to be taken as a lump sum, calculated using the method set out in Part 2 of this Schedule. PVp is the present value of the pension that would apply if the whole benefit could, and were to, be taken as a pension, calculated using the method set out in Part 3 of this Schedule. 30 Conversion of accrued benefit multiple (1) For the purpose of calculating the value of PVls under subclause 28(2), 29(2) or 29A(2) of this Schedule, if the accrued benefit multiple provided by the trustee under section 90XZB or 90YZR of the Act is expressed as a pension multiple, the multiple must be converted to a lump sum multiple using the commutation factor provided by the trustee under that section. (2) For the purpose of calculating the value of PVp under subclause 28(2), 29(2) or 29A(2) of this Schedule, if the accrued benefit multiple provided by the trustee under section 90XZB or 90YZR of the Act is expressed as a lump sum multiple, the multiple must be converted to a pension multiple using the conversion factor provided by the trustee under that section. Part 5—Interest relating to former employment—benefit payable only as lump sum 31 Method—lump sum comprising different components (1) This clause applies if the lump sum payable in respect of the interest comprises a number of components, the value of which will increase by different rates over the minimum deferral period. (2) The gross value of the interest is the sum of the gross value of each component comprising the lump sum, calculated as follows: where: DB is the nominal value of the component of the lump sum at the relevant date. Dy+m is the discount valuation factor calculated in accordance with subclause (3). (3) For subclause (2), Dy+m at the relevant date is: where: Dy is the discount valuation factor specified in clause 32 in respect of the lump sum at the relevant date on the basis of the minimum deferral period (in complete years) applying to the lump sum at that date. m is the number of complete months of the minimum deferral period applicable to the lump sum at the relevant date that are not included in the remaining complete years of that period at that date. Dy+1 is the discount valuation factor specified in clause 32 that would apply in respect of the lump sum at the relevant date if the minimum deferral period (in complete years) applying to the lump sum at that date were one year more than the minimum deferral period applying to the lump sum at that date. (4) For the purpose of calculating the discount valuation factor under subclause (3): minimum deferral period, in relation to the benefit payable to the member spouse in respect of the interest, means the period until the earliest date at which the benefit may be paid (other than for death or disability). nominal value, of a component of a lump sum payable in respect of a superannuation interest at a particular date, means the amount of the component payable (excluding any superannuation contributions surcharge payable in respect of the interest) if the member spouse were able to take, and did take, the benefit in respect of the interest at that date. 32 Discount valuation factors (1) For subclause 31(3), this clause sets out the discount valuation factors. (2) Column 2 of the following table sets out the applicable factor for the annual amount of a lump sum that, at the relevant date, is not indexed in respect of the minimum deferral period. (3) Column 3 of the following table sets out the applicable factor for the annual amount of a lump sum that, at the relevant date, is indexed in respect of the minimum deferral period in accordance with the consumer price index. (4) Column 4 of the following table sets out the applicable factor for the annual amount of a lump sum that, at the relevant date, is indexed in respect of the minimum deferral period in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics) or in accordance with any change in the salary payable for the employment in which the member was engaged immediately before he or she ceased employment. (5) If the annual amount of the lump sum at the relevant date is indexed in respect of the minimum deferral period in accordance with a fund crediting rate, the factor is 1. Minimum deferral period for lump sum (in complete years) Discount valuation factors Lump sum not indexed Lump sum indexed in line with CPI Lump sum indexed in line with general wage index or salary 0 1.000 1.000 1.000 1 0.939 0.963 0.977 2 0.883 0.927 0.954 3 0.831 0.894 0.932 4 0.782 0.861 0.911 5 0.737 0.830 0.891 6 0.694 0.801 0.871 7 0.654 0.772 0.852 8 0.617 0.745 0.833 9 0.582 0.719 0.814 10 0.549 0.693 0.796 11 0.518 0.669 0.779 12 0.488 0.646 0.762 13 0.461 0.623 0.745 14 0.435 0.601 0.728 15 0.410 0.580 0.712 16 0.387 0.559 0.696 17 0.365 0.540 0.681 18 0.345 0.521 0.666 19 0.325 0.502 0.651 20 0.307 0.485 0.637 21 0.290 0.467 0.622 22 0.273 0.451 0.609 23 0.258 0.435 0.595 24 0.243 0.420 0.582 25 0.230 0.405 0.569 26 0.217 0.391 0.556 27 0.205 0.377 0.544 28 0.193 0.363 0.532 29 0.183 0.351 0.520 30 0.172 0.338 0.508 31 0.163 0.326 0.497 32 0.154 0.315 0.486 33 0.145 0.303 0.475 34 0.137 0.293 0.464 35 0.129 0.282 0.454 36 0.122 0.272 0.443 37 0.115 0.263 0.433 38 0.109 0.253 0.424 39 0.103 0.244 0.414 40 0.097 0.236 0.405 33 Method—lump sum (other than lump sum comprising different components) (1) This clause applies if clause 31 of this Schedule does not apply. (2) The method is: where: DB is the nominal value of the lump sum at the relevant date. Dy+m is the discount valuation factor calculated in accordance with subclauses 31(2), (3) and (4) of this Part. Part 6—Interest relating to former employment—benefit payable only as pension 34 Method—pension payable periodically (1) This clause applies if the amount of the pension that would be payable in respect of the interest is, at the time when payment of the pension commences, a fixed amount or an amount determined by increasing a fixed amount in accordance with an index over the minimum deferral period. (2) The method is: where: DBP is the annual amount of pension at the relevant date if the pension were to commence on completion of the minimum deferral period. Pda is the pension valuation factor mentioned in the clause of Part 3 of this Schedule that applies to the pension, its indexation rate (if any), guarantee period (if any) and the member spouse's age at the end of the minimum deferral period. Rsa is the reversion valuation factor mentioned in the clause of Part 3 of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date. r is the proportion of pension that a non‑member spouse would receive, as the reversionary beneficiary of the member spouse, on the death of the member spouse, as provided by the trustee under section 90XZB or 90YZR of the Act. Dy+m is the discount valuation factor calculated in accordance with subclause (3). (3) For subclause (2), the discount valuation factor (Dy+m) at the relevant date is: where: Dy is the discount valuation factor mentioned in clause 35 that applies to the pension at the relevant date and the minimum deferral period in complete years at that date. m is the number of complete months of the minimum deferral period applicable to the pension at the relevant date that are not included in the remaining complete years of that period at that date. Dy+1 is the discount valuation factor specified in clause 35 that would apply in respect of the pension at the relevant date if the minimum deferral period (in complete years) applying to the pension at that date were one year more than the minimum deferral period applying to the pension at that date. (4) In this clause and clause 35: minimum deferral period in relation to the benefit payable to the member spouse in respect of the interest, means the period until the earliest date at which the benefit may be paid (other than for death or disability). 35 Discount valuation factors (1) For subclause 34(3), this clause sets out the discount valuation factors. (2) Column 2 of the following table sets out the applicable factor for the annual amount of a pension that, at the relevant date, is not indexed in respect of the minimum deferral period. (3) Column 3 of the following table sets out the applicable factor for the annual amount of a pension that, at the relevant date, is indexed in respect of the minimum deferral period in accordance with the consumer price index. (4) Column 4 of the following table sets out the applicable factor for the annual amount of a pension that, at the relevant date, is indexed in respect of the minimum deferral period in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics) or in accordance with any change in the salary payable for the employment in which the member was engaged immediately before he or she ceased employment. (5) If the annual amount of the pension at the relevant date is indexed in respect of the minimum deferral period in accordance with a fund crediting rate, the factor is 1. Minimum deferral period for pension (in complete years) Discount valuation factors Pension not indexed Pension indexed in line with CPI Pension indexed in line with wage index or salary 0 1.000 1.000 1.000 1 0.939 0.963 0.977 2 0.883 0.927 0.954 3 0.831 0.894 0.932 4 0.782 0.861 0.911 5 0.737 0.830 0.891 6 0.694 0.801 0.871 7 0.654 0.772 0.852 8 0.617 0.745 0.833 9 0.582 0.719 0.814 10 0.549 0.693 0.796 11 0.518 0.669 0.779 12 0.488 0.646 0.762 13 0.461 0.623 0.745 14 0.435 0.601 0.728 15 0.410 0.580 0.712 16 0.387 0.559 0.696 17 0.365 0.540 0.681 18 0.345 0.521 0.666 19 0.325 0.502 0.651 20 0.307 0.485 0.637 21 0.290 0.467 0.622 22 0.273 0.451 0.609 23 0.258 0.435 0.595 24 0.243 0.420 0.582 25 0.230 0.405 0.569 26 0.217 0.391 0.556 27 0.205 0.377 0.544 28 0.193 0.363 0.532 29 0.183 0.351 0.520 30 0.172 0.338 0.508 31 0.163 0.326 0.497 32 0.154 0.315 0.486 33 0.145 0.303 0.475 34 0.137 0.293 0.464 35 0.129 0.282 0.454 36 0.122 0.272 0.443 37 0.115 0.263 0.433 38 0.109 0.253 0.424 39 0.103 0.244 0.414 40 0.097 0.236 0.405 36 Method—conversion of lump sum to pension (1) This clause applies if the amount of the pension payable in respect of the interest is to be determined by reference to the conversion of a lump sum amount when payment of the pension commences. (2) The method is: where: DB is the nominal value of the lump sum at the relevant date. Cda is the factor that would be used to convert the lump sum to a pension at the end of the minimum deferral period. Pda is the pension valuation factor mentioned in the clause of Part 3 of this Schedule that applies to the pension, its indexation rate (if any), guarantee period (if any) and the member spouse's age at the end of the minimum deferral period. Rsa is the reversion valuation factor mentioned in the clause of Part 3 of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date. r is the proportion of the pension that a non‑member spouse would receive as the reversionary beneficiary of the member spouse on the death of the member spouse, as provided by the trustee under section 90XZB or 90YZR of the Act. Dy+m is the discount valuation factor calculated in accordance with subclause 31(3) of this Schedule. (3) For the purpose of calculating the discount valuation factor under subclause (2): minimum deferral period has the meaning given by subclause 31(4) of this Schedule. nominal value has the meaning given by subclause 31(4) of this Schedule. Part 7—Interest relating to former employment—benefit payable as combination of lump sum and pension 37 Method—no restriction on combination of lump sum and pension that may be taken (1) This clause applies if there is no provision in the governing rules of the eligible superannuation plan in which the interest is held restricting the proportion of the interest that may be taken as a lump sum or as a pension. (2) The method is: where: PVls is the present value of the lump sum that would apply if the whole benefit were to be taken as a lump sum, calculated using the method set out in Part 5 of this Schedule. PVp is the present value of the pension that would apply if the whole benefit were to be taken as a pension, calculated using the method set out in Part 6 of this Schedule. 38 Method—restriction on proportion of pension that may be commuted to lump sum (1) This clause applies if: (a) the benefit in respect of the interest is payable as a pension; and (b) the governing rules of the eligible superannuation plan in which the interest is held restrict the proportion of the pension that may be commuted to a lump sum. (2) The method is: where: Maxls% is: (a) the maximum amount of pension that, at the end of the minimum deferral period, may be commuted to a lump sum, expressed as a percentage of the amount of the pension that would be payable if the whole benefit were to be taken as a pension; or (b) if the percentage calculated under paragraph (a) is greater than 50%—50%. PVls is the present value of the lump sum that would apply if the whole benefit were to be taken as a lump sum, calculated using the method set out in Part 5 of this Schedule. PVp is the present value of the pension that would apply if the whole benefit were to be taken as a pension, calculated using the method set out in Part 6 of this Schedule. (3) In this clause: minimum deferral period, has the meaning given by subclause 31(4) of this Schedule. 39 Method—restriction on lump sum amount that may be taken as pension (1) This clause applies if: (a) the benefit in respect of the interest is payable as a lump sum; and (b) the governing rules of the eligible superannuation plan in which the interest is held restrict the amount of the lump sum that may be taken as a pension. (2) The method is: where: Maxp% is: (a) the maximum possible amount of lump sum that, at the end of the minimum deferral period, may be converted to a pension expressed as a percentage of the lump sum that would be payable if the whole benefit were to be taken as a lump sum; or (b) if the percentage calculated under paragraph (a) is greater than 50%—50%. PVls is the present value of the lump sum that would apply if the whole benefit were to be taken as a lump sum, calculated using the method set out in Part 5 of this Schedule. PVp is the present value of the pension that would apply if the whole benefit were to be taken as a pension, calculated using the method set out in Part 6 of this Schedule. (3) In this clause: minimum deferral period has the meaning given by subclause 31(4). Schedule 3—Method for determining gross value of partially vested accumulation interest (regulation 32) 1 Application of Schedule 3 This Schedule sets out the method for determining the gross value, at the relevant date, of a partially vested accumulation interest that is in the growth phase at that date. 2 Method (1) The method is: where: V is the value, at the relevant date, of the actual vested benefit in respect of the interest, determined in accordance with clause 3. A is the amount that would be the total amount standing to the credit of the member spouse in respect of the interest if the benefit in respect of the interest were fully vested at the relevant date, determined in accordance with clause 3A. fy+m is the vesting factor at the relevant date calculated in accordance with subclause (2). (2) For subclause (1), the vesting factor (fy+m) at the relevant date is: where: fy is the vesting factor mentioned in clause 4 of this Schedule that applies to the relevant vesting period and the length of the member spouse's membership in the plan in completed years at the relevant date. m is the number of completed months of the member spouse's membership in the plan at the relevant date that are not included in the completed years of membership at that date. fy+1 is the vesting factor mentioned in clause 4 of this Schedule that would apply to the relevant vesting period if the member spouse's length of membership in the plan were one year more than the member spouse's length of membership in complete years at the relevant date. 3 Actual vested benefit (1) For subclause 2(1), this clause sets out how to determine the value, at the relevant date, of the actual vested benefit (V) in respect of the superannuation interest. (2) Subject to subclause (4), if: (a) a member information statement stating the value of the interest at the relevant date has been provided to the member spouse; and (b) evidence of the contents of the statement is before the court in the relevant proceeding; the value at the relevant date of the actual vested benefit in respect of the interest is the value of the interest stated in the statement. (3) If: (a) a statement has been issued by the trustee of the plan in which the interest is held, being a statement that states the value of the benefits (before any taxes or other charges have been deducted) that would have been payable in respect of the interest at the relevant date if the member spouse had voluntarily ceased to be a member of the plan on that date; and (b) evidence of the contents of the statement is before the court in the relevant proceeding; the value at the relevant date of the actual vested benefit in respect of the interest is the value of the interest stated in the statement. (4) If: (a) evidence of the contents of a member information statement mentioned in subclause (2) and a statement of the kind mentioned in subclause (3) is before the court in the relevant proceeding; and (b) the value of the interest stated in each statement is not the same; the value at the relevant date of the actual vested benefit in respect of the interest is the value of the interest stated in the statement mentioned in subclause (3). (5) If subclause (2) or (3) does not apply, the value, at the relevant date, of the actual vested benefit in respect of the interest is: where: V1 is the sum of: (a) the value of the actual vested benefit in respect of the interest at the first valuation date; and (b) the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan) in the period between the first valuation date and the relevant date (excluding both those dates), less the value of any partial payment of benefits to the member made in that period. V2 is the sum of: (a) the value of the actual vested benefit in respect of the interest at the second valuation date; and (b) the value of any partial payment of benefits made to the member in the period beginning on the day after the relevant date and ending at the end of the second valuation date, less the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan), and any interest earned on those benefits, in that period. X is the number of days in the period between the first valuation date and the relevant date (excluding both those dates). D is the number of days in the period beginning on the day after the first valuation date and ending at the end of the second valuation date. (6) For the purpose of determining the value, at the relevant date, of the actual vested benefit in respect of the member spouse's interest under subclause (5): (a) if, in relation to the interest, evidence of the contents of one member information statement only is before the court in the relevant proceeding, and the relevant date is after the valuation date stated in that statement: (i) the first valuation date is the valuation date stated in that statement; and (ii) the value of the actual vested benefit in respect of the interest at the first valuation date is the value of the interest stated in that statement; and (iii) the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and (iv) the value of the actual vested benefit in respect of the interest at the second valuation date is the value of the interest at that date; and (b) if, in relation to the interest, evidence of the contents of 2 member information statements is before the court in the relevant proceeding, and the relevant date is between the valuation date stated in one of those statements (the first statement) and the valuation date stated in the other statement (the second statement): (i) the first valuation date is the valuation date stated in the first statement; and (ii) the value of the actual vested benefit in respect of the interest at the first valuation date is the value of the interest stated in the first statement; and (iii) the second valuation date is the valuation date stated in the second statement; and (iv) the value of the actual vested benefit in respect of the interest at the second valuation date is the value of the interest stated in the second statement; and (c) if, in relation to the interest, evidence of the contents of one member information statement only is before the court in the relevant proceeding, and the relevant date is before the valuation date stated in that statement: (i) the first valuation date is the date when the interest was acquired by the member spouse; and (ii) the value of the actual vested benefit in respect of the interest at the first valuation date is the value of the interest at that date; and (iii) the second valuation date is the valuation date stated in the statement; and (iv) the value of the actual vested benefit in respect of the interest at the second valuation date is the value of the interest stated in the statement; and (d) in any other case: (i) the first valuation date is the date when the interest was acquired by the member spouse; and (ii) the value of the actual vested benefit in respect of the interest at the first valuation date is the value of the interest at that date; and (iii) the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and (iv) the value of the actual vested benefit in respect of the interest at the second valuation date is the value of the interest at that date. (7) For subparagraphs (6)(a)(iv) and (d)(iv), the value of the actual vested benefit in respect of the interest at the second valuation date includes: (a) any amount payable under an earlier payment split that applies in respect of the interest; and (b) the amount of any surcharge debt of the member spouse in respect of the interest. (8) For this clause, a reference to the value of the interest stated in a statement: (a) is a reference to the value stated in the statement, however that value is described (for example, the member's account balance, share in the plan, withdrawal benefit); and (b) if 2 or more values are stated in the statement, is taken to be a reference to the value of the benefits (before any taxes or other charges have been deducted) that would have been payable in respect of the interest if the member spouse had voluntarily ceased to be a member of the plan at the date at which the value is stated. (9) In this clause: valuation date, in relation to a superannuation interest to which a member information statement, or similar statement, applies, means the date as at which the value of the interest is stated in the statement. 3A Total amount standing to credit of member spouse if benefit were fully vested at relevant date (1) For subclause 2(1), this clause sets out how to determine the amount (A) that would be the total amount standing to the credit of the member spouse in respect of the superannuation interest if the benefit in respect of the interest were fully vested at the relevant date. (2) If evidence is before the court in the relevant proceeding of the contents of a member information statement that states the total member credit at the relevant date, the amount (A) is the total member credit stated in the statement. (3) If subclause (2) does not apply, the amount (A) is: where: A1 is the sum of: (a) the total member credit at the first valuation date; and (b) the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan) in the period between the first valuation date and the relevant date (excluding both those dates), less the value of any partial payment of benefits to the member made in that period. A2 is the sum of: (a) the total member credit at the second valuation date; and (b) the value of any partial payment of benefits made to the member in the period beginning on the day after the relevant date and ending at the end of the second valuation date, less the value of any benefits rolled over, or transferred, by the member spouse to the plan in which the interest is held (other than regular contributions made by or for the member spouse to the plan), and any interest earned on those benefits, in that period. X is the number of days in the period between the first valuation date and the relevant date (excluding both those dates). D is the number of days in the period beginning on the day after the first valuation date and ending at the end of the second valuation date. (4) For the purpose of determining the amount (A) under subclause (3): (a) if, in relation to the interest, evidence of the contents of one member information statement only is before the court in the relevant proceeding, and the relevant date is after the valuation date stated in that statement: (i) the first valuation date is the valuation date stated in that statement; and (ii) the total member credit at the first valuation date is the total member credit stated in that statement; and (iii) the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and (iv) the total member credit at the second valuation date is the total member credit at that date; and (b) if, in relation to the interest, evidence of the contents of 2 member information statements is before the court in the relevant proceeding, and the relevant date is between the valuation date stated in one of those statements (the first statement) and the valuation date stated in the other statement (the second statement): (i) the first valuation date is the valuation date stated in the first statement; and (ii) the total member credit at the first valuation date is the total member credit stated in the first statement; and (iii) the second valuation date is the valuation date stated in the second statement; and (iv) the total member credit at the second valuation date is the total member credit stated in the second statement; and (c) if, in relation to the interest, evidence of the contents of one member information statement only is before the court in the relevant proceeding, and the relevant date is before the valuation date stated in that statement: (i) the first valuation date is the date when the interest was acquired by the member spouse; and (ii) the total member credit at the first valuation date is the total member credit at that date; and (iii) the second valuation date is the valuation date stated in the statement; and (iv) the total member credit at the second valuation date is the total member credit stated in the statement; and (d) in any other case: (i) the first valuation date is the date when the interest was acquired by the member spouse; and (ii) the total member credit at the first valuation date is the total member credit at that date; and (iii) the second valuation date is a date after the relevant date that is within 28 days before the date when the valuation of the interest is being carried out; and (iv) the total member credit at the second valuation date is the total member credit at that date. (5) For subparagraphs (4)(a)(iv) and (d)(iv), the total member credit at the second valuation date includes: (a) any amount payable under an earlier payment split that applies in respect of the interest; and (b) the amount of any surcharge debt of the member spouse in respect of the interest. (6) In this clause: total member credit, in relation to a superannuation interest of a member spouse and a date, means the total amount that would be standing to the credit of the member spouse in respect of the interest if the benefit in respect of the interest were fully vested at that date. valuation date, in relation to a superannuation interest to which a member information statement applies, means the date as at which the total member credit in respect of the interest is stated in the statement. 4 Vesting factors This clause sets out the vesting factors. Length of membership (in completed years) Vesting factors 2, 3, 4, 5, 6 and 7 year vesting periods 2 year vesting period 3 year vesting period 4 year vesting period 5 year vesting period 6 year vesting period 7 year vesting period 0 0.82 0.77 0.74 0.71 0.68 0.66 1 0.88 0.84 0.80 0.77 0.74 0.72 2 1.00 0.90 0.86 0.83 0.80 0.77 3 1.00 0.91 0.88 0.85 0.82 4 1.00 0.93 0.89 0.86 5 1.00 0.93 0.90 6 1.00 0.93 7 1.00 Length of membership (in completed years) Vesting factors 8, 9, 10, 15 and 20 year vesting periods 8 year vesting period 9 year vesting period 10 year vesting period 15 year vesting period 20 year vesting period 0 0.63 0.61 0.60 0.52 0.47 1 0.69 0.67 0.65 0.57 0.52 2 0.75 0.72 0.70 0.62 0.56 3 0.79 0.77 0.75 0.66 0.60 4 0.84 0.81 0.79 0.70 0.63 5 0.87 0.84 0.82 0.72 0.66 6 0.90 0.88 0.85 0.75 0.69 7 0.94 0.91 0.88 0.78 0.71 8 1.00 0.94 0.91 0.81 0.74 9 1.00 0.94 0.84 0.77 10 1.00 0.86 0.79 11 0.89 0.82 12 0.91 0.84 13 0.94 0.87 14 0.96 0.89 15 1.00 0.91 16 0.93 17 0.95 18 0.96 19 0.98 20 1.00 Schedule 4—Method for determining gross value of superannuation interest payable as life pension (subregulation 42(2)) 1 Application of Schedule 4 This Schedule sets out the method for determining the gross value, at the relevant date, of a superannuation interest that is in the payment phase at the relevant date, if the benefits in respect of the interest are payable as a pension for the life of the member spouse. 2 Method (1) The method is: where: B is the amount of the annual pension benefit payable in respect of the superannuation interest at the relevant date. Py+m is the pension valuation factor calculated in accordance with subclause (2). r is the proportion of the pension that is payable to any surviving spouse of the member spouse on the death of the member spouse, as provided by the trustee under section 90XZB or 90YZR of the Act. Ry+m is the reversion valuation factor calculated in accordance with subclause (3). (2) For subclause (1), the pension valuation factor (Py+m) at the relevant date is: where: Py is the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date. m is the number of completed months of the member spouse's age that are not included in the completed years at the relevant date. Py+1 is the pension valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Py. (3) For subclause (1), the reversion valuation factor (Ry+m) at the relevant date is: where: Ry is the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age in completed years at the relevant date. m is the number of completed months of the member spouse's age that are not included in the completed years at the relevant date. Ry+1 is the reversion valuation factor mentioned in the relevant clause of this Schedule that applies to the pension and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Ry. 3 Valuation factors—pension not indexed The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is not indexed. Age at relevant date (in completed years) Valuation factors—pension not indexed Males Females Pension Reversion Pension Reversion 18 15.2550 0.2771 15.4795 0.1064 19 15.2277 0.2873 15.4585 0.1111 20 15.2002 0.2972 15.4365 0.1158 21 15.1713 0.3077 15.4133 0.1207 22 15.1406 0.3187 15.3883 0.1261 23 15.1081 0.3304 15.3614 0.1320 24 15.0735 0.3428 15.3326 0.1383 25 15.0367 0.3560 15.3020 0.1451 26 14.9976 0.3700 15.2694 0.1522 27 14.9561 0.3848 15.2349 0.1598 28 14.9120 0.4006 15.1983 0.1677 29 14.8650 0.4174 15.1597 0.1761 30 14.8153 0.4351 15.1188 0.1848 31 14.7623 0.4540 15.0757 0.1939 32 14.7061 0.4740 15.0301 0.2035 33 14.6465 0.4951 14.9820 0.2134 34 14.5832 0.5176 14.9312 0.2239 35 14.5162 0.5413 14.8774 0.2349 36 14.4453 0.5662 14.8204 0.2465 37 14.3702 0.5926 14.7602 0.2586 38 14.2906 0.6205 14.6966 0.2713 39 14.2065 0.6497 14.6293 0.2846 40 14.1175 0.6806 14.5583 0.2986 41 14.0234 0.6894 14.4833 0.2943 42 13.9240 0.6976 14.4042 0.2889 43 13.8191 0.7050 14.3208 0.2822 44 13.7085 0.7115 14.2332 0.2740 45 13.5919 0.7170 14.1410 0.2642 46 13.4693 0.7212 14.0442 0.2528 47 13.3404 0.7240 13.9425 0.2396 48 13.2052 0.7252 13.8358 0.2245 49 13.0637 0.7245 13.7240 0.2074 50 12.9156 0.7218 13.6069 0.1882 51 12.7609 0.6413 13.4844 0.1668 52 12.5997 0.5517 13.3562 0.1431 53 12.4319 0.4524 13.2223 0.1171 54 12.2575 0.3430 13.0824 0.0885 55 12.0764 0.2233 12.9364 0.0575 56 11.8886 0.2324 12.7841 0.0597 57 11.6943 0.2416 12.6252 0.0619 58 11.4934 0.2508 12.4596 0.0642 59 11.2862 0.2601 12.2869 0.0665 60 11.0730 0.2694 12.1068 0.0688 61 10.8540 0.2785 11.9191 0.0711 62 10.6295 0.2876 11.7238 0.0735 63 10.3997 0.2965 11.5207 0.0759 64 10.1653 0.3051 11.3099 0.0783 65 9.9265 0.3134 11.0912 0.0807 66 9.6836 0.3214 10.8648 0.0831 67 9.4371 0.3289 10.6307 0.0854 68 9.1873 0.3360 10.3891 0.0878 69 8.9346 0.3426 10.1400 0.0901 70 8.6790 0.3487 9.8836 0.0923 71 8.4207 0.3542 9.6200 0.0945 72 8.1596 0.3592 9.3492 0.0966 73 7.8955 0.3636 9.0714 0.0987 74 7.6282 0.3675 8.7870 0.1008 75 7.3582 0.3708 8.4969 0.1027 76 7.0868 0.3735 8.2023 0.1046 77 6.8161 0.3753 7.9050 0.1063 78 6.5477 0.3763 7.6066 0.1079 79 6.2834 0.3763 7.3091 0.1094 80 6.0247 0.3752 7.0137 0.1106 81 5.7729 0.3732 6.7207 0.1117 82 5.5290 0.3701 6.4300 0.1127 83 5.2943 0.3660 6.1420 0.1136 84 5.0695 0.3609 5.8578 0.1144 85 4.8558 0.3549 5.5791 0.1151 86 4.6542 0.3480 5.3083 0.1156 87 4.4657 0.3403 5.0483 0.1160 88 4.2918 0.3319 4.8023 0.1162 89 4.1345 0.3228 4.5724 0.1160 90 3.9956 0.3132 4.3599 0.1154 91 3.8770 0.3031 4.1650 0.1144 92 3.7753 0.2927 3.9868 0.1129 93 3.6821 0.2824 3.8227 0.1111 94 3.5907 0.2723 3.6698 0.1087 95 3.4995 0.2623 3.5264 0.1059 96 3.4092 0.2522 3.3917 0.1026 97 3.3182 0.2417 3.2650 0.0986 98 3.2257 0.2306 3.1450 0.0938 99 3.1314 0.2184 3.0302 0.0880 4 Valuation factors—CPI indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index. Age at relevant date (in completed years) Valuation factors—CPI indexed pension Males Females Pension Reversion Pension Reversion 18 23.0683 0.9129 23.7206 0.3694 19 22.9687 0.9371 23.6341 0.3805 20 22.8677 0.9610 23.5450 0.3917 21 22.7631 0.9854 23.4526 0.4033 22 22.6545 1.0109 23.3561 0.4155 23 22.5418 1.0372 23.2555 0.4284 24 22.4247 1.0646 23.1508 0.4419 25 22.3032 1.0931 23.0419 0.4560 26 22.1769 1.1226 22.9289 0.4705 27 22.0458 1.1533 22.8117 0.4856 28 21.9096 1.1851 22.6902 0.5011 29 21.7681 1.2182 22.5643 0.5171 30 21.6213 1.2525 22.4340 0.5335 31 21.4688 1.2881 22.2991 0.5503 32 21.3105 1.3251 22.1594 0.5676 33 21.1464 1.3633 22.0150 0.5853 34 20.9761 1.4029 21.8654 0.6034 35 20.7996 1.4439 21.7104 0.6222 36 20.6166 1.4862 21.5498 0.6414 37 20.4270 1.5299 21.3835 0.6612 38 20.2306 1.5751 21.2114 0.6816 39 20.0272 1.6216 21.0333 0.7024 40 19.8166 1.6695 20.8490 0.7238 41 19.5986 1.6616 20.6583 0.7009 42 19.3731 1.6518 20.4613 0.6758 43 19.1400 1.6398 20.2578 0.6484 44 18.8991 1.6254 20.0478 0.6185 45 18.6505 1.6086 19.8312 0.5861 46 18.3939 1.5890 19.6078 0.5510 47 18.1296 1.5665 19.3776 0.5133 48 17.8574 1.5409 19.1406 0.4727 49 17.5777 1.5119 18.8966 0.4293 50 17.2903 1.4794 18.6457 0.3831 51 16.9956 1.2912 18.3877 0.3339 52 16.6938 1.0912 18.1227 0.2818 53 16.3849 0.8792 17.8505 0.2267 54 16.0692 0.6552 17.5712 0.1688 55 15.7468 0.4193 17.2848 0.1079 56 15.4181 0.4289 16.9910 0.1102 57 15.0833 0.4384 16.6899 0.1126 58 14.7428 0.4477 16.3814 0.1149 59 14.3970 0.4566 16.0652 0.1172 60 14.0464 0.4653 15.7414 0.1194 61 13.6917 0.4735 15.4099 0.1216 62 13.3333 0.4812 15.0707 0.1238 63 12.9718 0.4884 14.7241 0.1259 64 12.6079 0.4951 14.3703 0.1279 65 12.2423 0.5010 14.0096 0.1299 66 11.8755 0.5063 13.6422 0.1318 67 11.5080 0.5108 13.2686 0.1336 68 11.1405 0.5145 12.8892 0.1353 69 10.7733 0.5174 12.5043 0.1369 70 10.4067 0.5194 12.1143 0.1384 71 10.0409 0.5206 11.7197 0.1397 72 9.6758 0.5210 11.3208 0.1410 73 9.3113 0.5206 10.9178 0.1421 74 8.9474 0.5195 10.5116 0.1431 75 8.5846 0.5175 10.1036 0.1440 76 8.2247 0.5147 9.6952 0.1447 77 7.8698 0.5109 9.2887 0.1453 78 7.5222 0.5062 8.8861 0.1457 79 7.1835 0.5003 8.4896 0.1459 80 6.8553 0.4933 8.1006 0.1458 81 6.5389 0.4853 7.7193 0.1457 82 6.2355 0.4763 7.3456 0.1454 83 5.9460 0.4663 6.9796 0.1449 84 5.6712 0.4553 6.6226 0.1444 85 5.4120 0.4436 6.2766 0.1438 86 5.1692 0.4311 5.9438 0.1431 87 4.9438 0.4181 5.6273 0.1422 88 4.7372 0.4045 5.3303 0.1411 89 4.5509 0.3906 5.0548 0.1396 90 4.3867 0.3764 4.8017 0.1377 91 4.2463 0.3620 4.5707 0.1354 92 4.1253 0.3475 4.3603 0.1327 93 4.0141 0.3333 4.1673 0.1294 94 3.9054 0.3196 3.9883 0.1258 95 3.7971 0.3060 3.8209 0.1216 96 3.6902 0.2925 3.6644 0.1168 97 3.5828 0.2786 3.5174 0.1114 98 3.4738 0.2640 3.3785 0.1051 99 3.3630 0.2482 3.2459 0.0977 5 Valuation factors—CPI indexed pension with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index with a cap of 5%. Age at relevant date (in completed years) Valuation factors—CPI indexed pension with 5% cap Males Females Pension Reversion Pension Reversion 18 22.6355 0.8668 23.2580 0.3502 19 22.5412 0.8903 23.1764 0.3610 20 22.4454 0.9135 23.0923 0.3718 21 22.3463 0.9373 23.0050 0.3831 22 22.2432 0.9620 22.9138 0.3950 23 22.1361 0.9877 22.8185 0.4075 24 22.0248 1.0143 22.7192 0.4207 25 21.9091 1.0420 22.6159 0.4344 26 21.7888 1.0708 22.5086 0.4486 27 21.6637 1.1008 22.3972 0.4633 28 21.5337 1.1318 22.2817 0.4784 29 21.3986 1.1642 22.1618 0.4941 30 21.2582 1.1978 22.0376 0.5101 31 21.1122 1.2327 21.9090 0.5266 32 20.9606 1.2689 21.7757 0.5436 33 20.8032 1.3064 21.6377 0.5609 34 20.6397 1.3454 21.4946 0.5788 35 20.4701 1.3857 21.3463 0.5972 36 20.2942 1.4273 21.1924 0.6162 37 20.1117 1.4704 21.0331 0.6357 38 19.9225 1.5149 20.8679 0.6557 39 19.7264 1.5608 20.6968 0.6763 40 19.5232 1.6081 20.5197 0.6974 41 19.3127 1.6017 20.3363 0.6759 42 19.0947 1.5935 20.1466 0.6522 43 18.8692 1.5831 19.9505 0.6262 44 18.6360 1.5705 19.7480 0.5978 45 18.3951 1.5554 19.5389 0.5669 46 18.1463 1.5376 19.3232 0.5333 47 17.8897 1.5170 19.1006 0.4972 48 17.6253 1.4934 18.8713 0.4583 49 17.3534 1.4663 18.6351 0.4165 50 17.0738 1.4359 18.3920 0.3719 51 16.7869 1.2542 18.1419 0.3244 52 16.4928 1.0607 17.8847 0.2740 53 16.1917 0.8553 17.6204 0.2206 54 15.8836 0.6378 17.3490 0.1643 55 15.5689 0.4085 17.0704 0.1051 56 15.2477 0.4182 16.7844 0.1075 57 14.9204 0.4277 16.4912 0.1098 58 14.5872 0.4370 16.1904 0.1121 59 14.2486 0.4461 15.8821 0.1144 60 13.9052 0.4548 15.5660 0.1167 61 13.5575 0.4632 15.2421 0.1189 62 13.2060 0.4711 14.9106 0.1211 63 12.8512 0.4784 14.5715 0.1233 64 12.4939 0.4852 14.2252 0.1254 65 12.1346 0.4914 13.8719 0.1274 66 11.7740 0.4969 13.5117 0.1293 67 11.4125 0.5016 13.1452 0.1312 68 11.0507 0.5055 12.7727 0.1329 69 10.6891 0.5087 12.3946 0.1346 70 10.3279 0.5110 12.0113 0.1361 71 9.9673 0.5124 11.6232 0.1375 72 9.6072 0.5131 11.2305 0.1388 73 9.2476 0.5130 10.8336 0.1400 74 8.8882 0.5121 10.4333 0.1411 75 8.5298 0.5105 10.0310 0.1420 76 8.1740 0.5080 9.6280 0.1428 77 7.8230 0.5045 9.2266 0.1434 78 7.4790 0.5000 8.8289 0.1439 79 7.1438 0.4945 8.4371 0.1441 80 6.8188 0.4878 8.0524 0.1442 81 6.5054 0.4801 7.6752 0.1441 82 6.2047 0.4714 7.3053 0.1438 83 5.9176 0.4617 6.9429 0.1435 84 5.6451 0.4510 6.5892 0.1431 85 5.3879 0.4396 6.2462 0.1425 86 5.1469 0.4274 5.9162 0.1419 87 4.9232 0.4146 5.6023 0.1410 88 4.7180 0.4013 5.3075 0.1399 89 4.5330 0.3876 5.0341 0.1385 90 4.3700 0.3736 4.7827 0.1367 91 4.2305 0.3593 4.5533 0.1345 92 4.1103 0.3451 4.3444 0.1318 93 4.0000 0.3311 4.1527 0.1286 94 3.8920 0.3175 3.9748 0.1250 95 3.7845 0.3041 3.8085 0.1209 96 3.6783 0.2907 3.6529 0.1162 97 3.5716 0.2770 3.5068 0.1108 98 3.4633 0.2626 3.3687 0.1046 99 3.3533 0.2470 3.2368 0.0973 6 Valuation factors—CPI indexed pension plus 1% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index plus 1%. Age at relevant date (in completed years) Valuation factors—CPI indexed pension plus 1% Males Females Pension Reversion Pension Reversion 18 28.2395 1.5557 29.2999 0.6383 19 28.0675 1.5872 29.1436 0.6528 20 27.8933 1.6179 28.9836 0.6674 21 27.7145 1.6492 28.8192 0.6823 22 27.5306 1.6814 28.6495 0.6979 23 27.3414 1.7146 28.4744 0.7143 24 27.1467 1.7486 28.2939 0.7312 25 26.9465 1.7837 28.1081 0.7486 26 26.7404 1.8199 27.9171 0.7665 27 26.5284 1.8571 27.7207 0.7849 28 26.3102 1.8954 27.5191 0.8036 29 26.0857 1.9349 27.3119 0.8227 30 25.8548 1.9754 27.0994 0.8422 31 25.6172 2.0171 26.8812 0.8619 32 25.3729 2.0600 26.6573 0.8821 33 25.1219 2.1040 26.4277 0.9025 34 24.8637 2.1493 26.1920 0.9233 35 24.5986 2.1955 25.9499 0.9445 36 24.3262 2.2429 25.7013 0.9661 37 24.0464 2.2915 25.4463 0.9882 38 23.7591 2.3411 25.1845 1.0106 39 23.4643 2.3918 24.9159 1.0333 40 23.1617 2.4436 24.6405 1.0565 41 22.8512 2.4133 24.3580 1.0151 42 22.5327 2.3803 24.0686 0.9711 43 22.2064 2.3446 23.7720 0.9245 44 21.8720 2.3059 23.4686 0.8751 45 21.5297 2.2642 23.1581 0.8229 46 21.1795 2.2192 22.8406 0.7678 47 20.8215 2.1707 22.5159 0.7098 48 20.4559 2.1186 22.1843 0.6489 49 20.0831 2.0627 21.8457 0.5850 50 19.7030 2.0028 21.5001 0.5181 51 19.3162 1.7347 21.1476 0.4483 52 18.9230 1.4549 20.7881 0.3756 53 18.5235 1.1634 20.4218 0.3001 54 18.1182 0.8606 20.0487 0.2218 55 17.7072 0.5467 19.6689 0.1408 56 17.2911 0.5552 19.2823 0.1429 57 16.8702 0.5634 18.8890 0.1449 58 16.4451 0.5711 18.4890 0.1469 59 16.0162 0.5785 18.0823 0.1488 60 15.5842 0.5853 17.6687 0.1506 61 15.1500 0.5916 17.2484 0.1524 62 14.7139 0.5973 16.8216 0.1541 63 14.2768 0.6022 16.3886 0.1557 64 13.8395 0.6064 15.9499 0.1572 65 13.4026 0.6098 15.5057 0.1587 66 12.9668 0.6124 15.0564 0.1600 67 12.5327 0.6140 14.6027 0.1611 68 12.1009 0.6147 14.1451 0.1622 69 11.6719 0.6145 13.6841 0.1631 70 11.2460 0.6134 13.2201 0.1639 71 10.8233 0.6113 12.7537 0.1645 72 10.4037 0.6083 12.2852 0.1650 73 9.9871 0.6045 11.8151 0.1654 74 9.5735 0.5998 11.3444 0.1656 75 9.1635 0.5944 10.8745 0.1657 76 8.7588 0.5880 10.4070 0.1656 77 8.3619 0.5807 9.9443 0.1654 78 7.9748 0.5723 9.4886 0.1650 79 7.5995 0.5629 9.0422 0.1643 80 7.2373 0.5525 8.6064 0.1635 81 6.8897 0.5410 8.1814 0.1625 82 6.5576 0.5286 7.7669 0.1614 83 6.2419 0.5153 7.3629 0.1603 84 5.9432 0.5011 6.9709 0.1590 85 5.6625 0.4863 6.5925 0.1576 86 5.4003 0.4709 6.2302 0.1562 87 5.1576 0.4551 5.8871 0.1546 88 4.9356 0.4389 5.5661 0.1527 89 4.7358 0.4225 5.2694 0.1506 90 4.5599 0.4059 4.9973 0.1480 91 4.4093 0.3893 4.7496 0.1450 92 4.2792 0.3728 4.5244 0.1416 93 4.1597 0.3567 4.3181 0.1378 94 4.0428 0.3411 4.1271 0.1334 95 3.9267 0.3259 3.9489 0.1286 96 3.8121 0.3106 3.7823 0.1231 97 3.6971 0.2951 3.6262 0.1170 98 3.5806 0.2789 3.4787 0.1100 99 3.4623 0.2614 3.3381 0.1019 7 Valuation factors—CPI indexed pension plus 1% with 5% cap The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with the consumer price index plus 1% with a cap of 5%. Age at relevant date (in completed years) Valuation factors CPI indexed pension plus 1% with 5% cap Males Females Pension Reversion Pension Reversion 18 27.0672 1.3954 28.0272 0.5711 19 26.9132 1.4255 27.8884 0.5850 20 26.7571 1.4549 27.7463 0.5989 21 26.5966 1.4850 27.5999 0.6132 22 26.4313 1.5160 27.4485 0.6282 23 26.2608 1.5479 27.2919 0.6438 24 26.0851 1.5808 27.1301 0.6601 25 25.9040 1.6148 26.9634 0.6769 26 25.7174 1.6498 26.7916 0.6942 27 25.5249 1.6859 26.6146 0.7120 28 25.3265 1.7231 26.4326 0.7302 29 25.1220 1.7615 26.2453 0.7487 30 24.9113 1.8010 26.0527 0.7677 31 24.6941 1.8418 25.8547 0.7870 32 24.4703 1.8838 25.6512 0.8066 33 24.2399 1.9269 25.4421 0.8266 34 24.0025 1.9714 25.2270 0.8470 35 23.7582 2.0168 25.0058 0.8679 36 23.5069 2.0636 24.7782 0.8892 37 23.2483 2.1115 24.5443 0.9109 38 22.9822 2.1606 24.3038 0.9330 39 22.7087 2.2109 24.0566 0.9556 40 22.4275 2.2623 23.8026 0.9785 41 22.1384 2.2377 23.5418 0.9417 42 21.8414 2.2107 23.2739 0.9024 43 21.5365 2.1810 22.9991 0.8604 44 21.2236 2.1484 22.7174 0.8157 45 20.9027 2.1129 22.4287 0.7682 46 20.5738 2.0742 22.1330 0.7179 47 20.2371 2.0321 21.8301 0.6647 48 19.8927 1.9865 21.5202 0.6085 49 19.5409 1.9371 21.2033 0.5494 50 19.1818 1.8838 20.8794 0.4874 51 18.8157 1.6341 20.5484 0.4223 52 18.4430 1.3726 20.2103 0.3544 53 18.0637 1.0994 19.8654 0.2835 54 17.6783 0.8144 19.5135 0.2098 55 17.2871 0.5181 19.1547 0.1334 56 16.8903 0.5270 18.7889 0.1356 57 16.4885 0.5355 18.4163 0.1377 58 16.0820 0.5437 18.0367 0.1397 59 15.6714 0.5515 17.6501 0.1418 60 15.2573 0.5588 17.2564 0.1437 61 14.8404 0.5656 16.8558 0.1456 62 14.4213 0.5717 16.4483 0.1474 63 14.0007 0.5773 16.0344 0.1492 64 13.5793 0.5821 15.6143 0.1508 65 13.1579 0.5861 15.1883 0.1524 66 12.7369 0.5893 14.7569 0.1538 67 12.3172 0.5916 14.3207 0.1552 68 11.8992 0.5930 13.8800 0.1564 69 11.4835 0.5935 13.4354 0.1574 70 11.0702 0.5931 12.9874 0.1584 71 10.6597 0.5918 12.5365 0.1592 72 10.2517 0.5896 12.0829 0.1598 73 9.8462 0.5865 11.6272 0.1604 74 9.4431 0.5827 11.1703 0.1608 75 9.0431 0.5780 10.7135 0.1611 76 8.6479 0.5724 10.2587 0.1612 77 8.2598 0.5659 9.8079 0.1611 78 7.8811 0.5583 9.3634 0.1609 79 7.5134 0.5497 8.9275 0.1604 80 7.1584 0.5400 8.5016 0.1598 81 6.8173 0.5293 8.0858 0.1590 82 6.4912 0.5176 7.6798 0.1581 83 6.1809 0.5050 7.2838 0.1571 84 5.8872 0.4916 6.8991 0.1560 85 5.6110 0.4774 6.5275 0.1548 86 5.3528 0.4626 6.1713 0.1535 87 5.1137 0.4474 5.8337 0.1520 88 4.8949 0.4317 5.5177 0.1503 89 4.6979 0.4158 5.2254 0.1483 90 4.5245 0.3998 4.9572 0.1459 91 4.3759 0.3836 4.7130 0.1431 92 4.2477 0.3675 4.4908 0.1398 93 4.1300 0.3519 4.2873 0.1360 94 4.0148 0.3367 4.0988 0.1318 95 3.9003 0.3218 3.9228 0.1271 96 3.7873 0.3069 3.7583 0.1218 97 3.6738 0.2917 3.6041 0.1158 98 3.5588 0.2758 3.4584 0.1090 99 3.4421 0.2587 3.3193 0.1011 8 Valuation factors—wage indexed pension The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics). Age at relevant date (in completed years) Valuation factors—wage indexed pension Males Females Pension Reversion Pension Reversion 18 31.5392 2.0502 32.9054 0.8460 19 31.3119 2.0845 32.6943 0.8620 20 31.0823 2.1177 32.4791 0.8780 21 30.8476 2.1514 32.2590 0.8942 22 30.6073 2.1860 32.0329 0.9112 23 30.3613 2.2214 31.8008 0.9288 24 30.1093 2.2577 31.5629 0.9470 25 29.8513 2.2949 31.3191 0.9656 26 29.5871 2.3330 31.0696 0.9847 27 29.3164 2.3720 30.8143 1.0042 28 29.0392 2.4121 30.5533 1.0239 29 28.7553 2.4532 30.2864 1.0440 30 28.4648 2.4953 30.0138 1.0644 31 28.1671 2.5384 29.7352 1.0849 32 27.8625 2.5825 29.4505 1.1058 33 27.5509 2.6275 29.1598 1.1268 34 27.2318 2.6736 28.8627 1.1481 35 26.9057 2.7205 28.5590 1.1698 36 26.5721 2.7684 28.2486 1.1917 37 26.2311 2.8172 27.9314 1.2140 38 25.8824 2.8669 27.6073 1.2365 39 25.5262 2.9173 27.2764 1.2593 40 25.1622 2.9686 26.9383 1.2822 41 24.7903 2.9200 26.5933 1.2271 42 24.4106 2.8686 26.2411 1.1692 43 24.0231 2.8142 25.8820 1.1087 44 23.6279 2.7567 25.5159 1.0453 45 23.2249 2.6960 25.1430 0.9790 46 22.8144 2.6318 24.7632 0.9099 47 22.3965 2.5641 24.3764 0.8379 48 21.9715 2.4926 23.9830 0.7630 49 21.5398 2.4171 23.5828 0.6852 50 21.1015 2.3377 23.1761 0.6046 51 20.6571 2.0168 22.7628 0.5212 52 20.2070 1.6849 22.3430 0.4351 53 19.7515 1.3422 21.9170 0.3463 54 19.2910 0.9891 21.4847 0.2550 55 18.8258 0.6259 21.0463 0.1613 56 18.3565 0.6333 20.6017 0.1631 57 17.8836 0.6402 20.1513 0.1648 58 17.4074 0.6467 19.6949 0.1665 59 16.9288 0.6527 19.2325 0.1681 60 16.4483 0.6581 18.7641 0.1696 61 15.9668 0.6628 18.2900 0.1710 62 15.4849 0.6668 17.8104 0.1723 63 15.0034 0.6701 17.3256 0.1736 64 14.5232 0.6725 16.8361 0.1747 65 14.0448 0.6740 16.3424 0.1757 66 13.5691 0.6747 15.8449 0.1765 67 13.0966 0.6743 15.3442 0.1773 68 12.6279 0.6731 14.8409 0.1779 69 12.1636 0.6708 14.3356 0.1783 70 11.7039 0.6675 13.8288 0.1786 71 11.2490 0.6633 13.3211 0.1788 72 10.7986 0.6581 12.8129 0.1788 73 10.3529 0.6521 12.3046 0.1786 74 9.9114 0.6453 11.7973 0.1784 75 9.4751 0.6377 11.2925 0.1779 76 9.0457 0.6292 10.7919 0.1774 77 8.6255 0.6197 10.2979 0.1766 78 8.2168 0.6092 9.8127 0.1757 79 7.8213 0.5977 9.3386 0.1746 80 7.4407 0.5852 8.8770 0.1733 81 7.0760 0.5717 8.4279 0.1718 82 6.7283 0.5573 7.9910 0.1703 83 6.3983 0.5421 7.5664 0.1686 84 6.0869 0.5261 7.1553 0.1669 85 5.7945 0.5095 6.7594 0.1651 86 5.5219 0.4925 6.3813 0.1632 87 5.2699 0.4750 6.0237 0.1612 88 5.0397 0.4574 5.6900 0.1590 89 4.8327 0.4395 5.3818 0.1564 90 4.6505 0.4217 5.0996 0.1535 91 4.4944 0.4039 4.8430 0.1502 92 4.3595 0.3863 4.6099 0.1464 93 4.2355 0.3691 4.3966 0.1421 94 4.1143 0.3526 4.1992 0.1374 95 3.9940 0.3364 4.0152 0.1322 96 3.8753 0.3202 3.8434 0.1264 97 3.7562 0.3038 3.6824 0.1199 98 3.6357 0.2867 3.5304 0.1125 99 3.5135 0.2683 3.3855 0.1041 9 Valuation factors—pension indexed at 3% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed at 3%. Age at relevant date (in completed years) Valuation factors—pension indexed at 3% Males Females Pension Reversion Pension Reversion 18 25.4467 1.1877 26.2753 0.4841 19 25.3161 1.2157 26.1592 0.4970 20 25.1836 1.2430 26.0400 0.5099 21 25.0470 1.2710 25.9169 0.5232 22 24.9059 1.3000 25.7892 0.5371 23 24.7601 1.3300 25.6567 0.5518 24 24.6093 1.3609 25.5194 0.5671 25 24.4535 1.3928 25.3774 0.5829 26 24.2924 1.4259 25.2307 0.5992 27 24.1259 1.4601 25.0792 0.6160 28 23.9537 1.4954 24.9229 0.6332 29 23.7757 1.5320 24.7617 0.6509 30 23.5919 1.5698 24.5955 0.6689 31 23.4018 1.6088 24.4243 0.6873 32 23.2054 1.6491 24.2477 0.7062 33 23.0027 1.6906 24.0658 0.7254 34 22.7932 1.7334 23.8783 0.7450 35 22.5772 1.7775 23.6848 0.7652 36 22.3542 1.8228 23.4853 0.7858 37 22.1242 1.8694 23.2797 0.8070 38 21.8869 1.9173 23.0677 0.8285 39 21.6423 1.9664 22.8493 0.8506 40 21.3902 2.0169 22.6242 0.8730 41 21.1303 1.9997 22.3925 0.8422 42 20.8626 1.9802 22.1540 0.8089 43 20.5871 1.9582 21.9086 0.7731 44 20.3037 1.9336 21.6565 0.7347 45 20.0122 1.9061 21.3975 0.6935 46 19.7128 1.8756 21.1315 0.6496 47 19.4055 1.8419 20.8583 0.6028 48 19.0904 1.8047 20.5783 0.5531 49 18.7678 1.7640 20.2912 0.5005 50 18.4377 1.7194 19.9970 0.4450 51 18.1004 1.4950 19.6957 0.3865 52 17.7562 1.2587 19.3873 0.3250 53 17.4052 1.0104 19.0719 0.2606 54 17.0478 0.7502 18.7494 0.1933 55 16.6841 0.4783 18.4198 0.1231 56 16.3146 0.4875 18.0830 0.1254 57 15.9395 0.4965 17.7392 0.1276 58 15.5593 0.5052 17.3881 0.1298 59 15.1744 0.5135 17.0298 0.1319 60 14.7856 0.5214 16.6641 0.1340 61 14.3934 0.5289 16.2910 0.1360 62 13.9983 0.5357 15.9108 0.1380 63 13.6010 0.5420 15.5236 0.1399 64 13.2024 0.5476 15.1299 0.1417 65 12.8029 0.5524 14.7298 0.1435 66 12.4033 0.5565 14.3238 0.1451 67 12.0041 0.5597 13.9123 0.1467 68 11.6059 0.5621 13.4958 0.1481 69 11.2092 0.5636 13.0747 0.1494 70 10.8142 0.5642 12.6495 0.1505 71 10.4211 0.5639 12.2207 0.1515 72 10.0299 0.5627 11.7885 0.1524 73 9.6404 0.5607 11.3535 0.1532 74 9.2525 0.5580 10.9164 0.1539 75 8.8669 0.5544 10.4786 0.1544 76 8.4854 0.5499 10.0419 0.1548 77 8.1102 0.5445 9.6083 0.1550 78 7.7435 0.5381 9.1801 0.1550 79 7.3870 0.5305 8.7595 0.1548 80 7.0424 0.5219 8.3478 0.1544 81 6.7108 0.5123 7.9454 0.1538 82 6.3935 0.5016 7.5519 0.1532 83 6.0912 0.4900 7.1675 0.1524 84 5.8048 0.4776 6.7935 0.1515 85 5.5351 0.4644 6.4316 0.1506 86 5.2828 0.4505 6.0845 0.1495 87 5.0490 0.4361 5.7550 0.1482 88 4.8348 0.4213 5.4463 0.1468 89 4.6419 0.4062 5.1604 0.1450 90 4.4720 0.3908 4.8980 0.1428 91 4.3266 0.3753 4.6589 0.1401 92 4.2012 0.3599 4.4412 0.1371 93 4.0859 0.3448 4.2417 0.1335 94 3.9732 0.3301 4.0568 0.1295 95 3.8611 0.3158 3.8841 0.1250 96 3.7505 0.3014 3.7227 0.1199 97 3.6393 0.2867 3.5712 0.1141 98 3.5266 0.2713 3.4281 0.1075 99 3.4122 0.2547 3.2915 0.0998 10 Valuation factors—pension indexed at 5% The pension valuation factors and reversion valuation factors set out in this clause apply if the pension is indexed at 5%. Age at relevant date (in completed years) Valuation factors—pension indexed at 5% Males Females Pension Reversion Pension Reversion 18 40.1545 3.6178 42.4637 1.5075 19 39.7545 3.6511 42.0758 1.5237 20 39.3526 3.6824 41.6836 1.5396 21 38.9456 3.7138 41.2861 1.5557 22 38.5326 3.7457 40.8820 1.5724 23 38.1137 3.7783 40.4714 1.5897 24 37.6887 3.8113 40.0545 1.6074 25 37.2575 3.8449 39.6315 1.6255 26 36.8199 3.8792 39.2026 1.6437 27 36.3760 3.9140 38.7678 1.6622 28 35.9256 3.9494 38.3273 1.6807 29 35.4685 3.9856 37.8809 1.6994 30 35.0051 4.0222 37.4289 1.7180 31 34.5348 4.0595 36.9712 1.7367 32 34.0578 4.0973 36.5077 1.7553 33 33.5743 4.1356 36.0385 1.7739 34 33.0839 4.1745 35.5633 1.7925 35 32.5871 4.2137 35.0819 1.8112 36 32.0836 4.2533 34.5942 1.8300 37 31.5733 4.2932 34.1004 1.8487 38 31.0564 4.3334 33.6004 1.8675 39 30.5329 4.3739 33.0942 1.8862 40 30.0028 4.4145 32.5819 1.9048 41 29.4660 4.3068 32.0634 1.8079 42 28.9227 4.1964 31.5390 1.7086 43 28.3731 4.0832 31.0087 1.6069 44 27.8174 3.9671 30.4728 1.5027 45 27.2556 3.8480 29.9315 1.3962 46 26.6882 3.7258 29.3847 1.2872 47 26.1153 3.6003 28.8326 1.1760 48 25.5376 3.4716 28.2756 1.0624 49 24.9554 3.3394 27.7138 0.9467 50 24.3691 3.2038 27.1473 0.8289 51 23.7793 2.7421 26.5763 0.7091 52 23.1865 2.2727 26.0011 0.5874 53 22.5912 1.7963 25.4218 0.4640 54 21.9940 1.3134 24.8387 0.3392 55 21.3952 0.8247 24.2520 0.2129 56 20.7954 0.8281 23.6617 0.2137 57 20.1954 0.8309 23.0683 0.2145 58 19.5956 0.8331 22.4716 0.2151 59 18.9968 0.8346 21.8718 0.2156 60 18.4000 0.8354 21.2690 0.2160 61 17.8059 0.8354 20.6634 0.2163 62 17.2152 0.8345 20.0555 0.2164 63 16.6287 0.8328 19.4457 0.2165 64 16.0475 0.8301 18.8345 0.2164 65 15.4722 0.8264 18.2227 0.2162 66 14.9034 0.8217 17.6105 0.2158 67 14.3420 0.8160 16.9989 0.2153 68 13.7884 0.8093 16.3886 0.2146 69 13.2431 0.8016 15.7800 0.2138 70 12.7063 0.7928 15.1739 0.2128 71 12.1781 0.7831 14.5709 0.2116 72 11.6582 0.7724 13.9714 0.2103 73 11.1466 0.7609 13.3758 0.2089 74 10.6428 0.7486 12.7854 0.2074 75 10.1478 0.7356 12.2017 0.2057 76 9.6632 0.7218 11.6264 0.2039 77 9.1916 0.7071 11.0621 0.2019 78 8.7351 0.6914 10.5110 0.1997 79 8.2955 0.6749 9.9755 0.1974 80 7.8742 0.6575 9.4568 0.1949 81 7.4723 0.6393 8.9548 0.1923 82 7.0907 0.6203 8.4689 0.1896 83 6.7299 0.6007 7.9991 0.1869 84 6.3906 0.5806 7.5465 0.1842 85 6.0731 0.5600 7.1127 0.1814 86 5.7781 0.5391 6.7001 0.1785 87 5.5062 0.5182 6.3116 0.1755 88 5.2583 0.4971 5.9502 0.1724 89 5.0358 0.4762 5.6176 0.1690 90 4.8401 0.4555 5.3138 0.1652 91 4.6723 0.4350 5.0381 0.1610 92 4.5270 0.4150 4.7882 0.1564 93 4.3934 0.3956 4.5599 0.1514 94 4.2630 0.3769 4.3490 0.1459 95 4.1337 0.3586 4.1527 0.1399 96 4.0063 0.3404 3.9697 0.1333 97 3.8786 0.3220 3.7985 0.1260 98 3.7496 0.3030 3.6370 0.1178 99 3.6189 0.2827 3.4832 0.1086 Schedule 4A—Method for determining value of superannuation interest in lifetime annuity (paragraph 14Q(7)(c)) 1 Application of Schedule 4A This Schedule sets out the method for determining the value, at the termination time, of a superannuation interest in a lifetime annuity if the interest was in the payment phase at the termination time. 2 Method (1) The method is: where: B is the amount of the annual benefit payable in respect of the superannuation interest at the termination time. Vy is the pension valuation factor under Schedule 4 that applies to the particular lifetime annuity and the member spouse's age in completed years at the termination time. m is the number of completed months of the member spouse's age that are not included in the completed years at the termination time. Vy+1 is the pension valuation factor under Schedule 4 that applies to the particular lifetime annuity and the member spouse's age at the completion of the next year after the year mentioned in the definition of the factor Vy. (2) For the purpose of applying the factors Vy and Vy+1 in the formula in subclause (1), a reference in Schedule 4 to 'pension' is taken to be read as a reference to 'annuity'. Schedule 5—Method for determining gross value of superannuation interest payable as fixed‑term pension (subregulation 42(3)) 1 Application of Schedule 5 This Schedule sets out the method for determining the gross value, at the relevant date, of a superannuation interest that is in the payment phase at the relevant date, if the benefits in respect of the interest are payable as a pension for a fixed term. 2 Method (1) The method is: where: B is the value of the annual pension benefit payable in respect of the superannuation interest at the relevant date. Py+m is the pension valuation factor calculated in accordance with subclause (2). (2) For subclause (1), the pension valuation factor (Py+m) at the relevant date is: where: Py is the pension valuation factor mentioned in clause 3 of this Schedule that applies to the pension and the remaining term of the pension in complete years at the relevant date. m is the number of complete months of the remaining term of the pension that are not included in the remaining complete years at the relevant date. PY+1 is the pension valuation factor mentioned in clause 3 of this Schedule that would apply to the pension if the remaining term of the pension at the relevant date were one year more than the actual remaining term of the pension at that date. 3 Pension valuation factors (1) The table in this clause sets out the pension valuation factors. (2) The factors in column 2 apply if the pension is not indexed. (3) The factors in column 3 apply if the pension is indexed in accordance with the consumer price index. (4) The factors in column 4 apply if the pension is indexed in accordance with the consumer price index with a cap of 5%. (5) The factors in column 5 apply if the pension is indexed in accordance with the consumer price index plus 1%. (6) The factors in column 6 apply if the pension is indexed in accordance with the consumer price index plus 1% with a cap of 5%. (7) The factors in column 7 apply if the pension is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics). (8) The factors in column 8 apply if the pension is indexed at 3%. (9) The factors in column 9 apply if the pension is indexed at 5%. Remaining term of pension (in complete years) Pension valuation factors Pension not indexed CPI indexed pension CPI indexed pension with 5% cap CPI indexed pension plus 1% CPI indexed pension plus 1% with 5% cap Wage indexed pension Pension indexed at 3% Pension indexed at 5% 0 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 1 0.969 0.981 0.981 0.986 0.985 0.988 0.983 0.993 2 1.879 1.925 1.923 1.944 1.940 1.953 1.935 1.972 3 2.734 2.834 2.830 2.875 2.867 2.896 2.854 2.937 4 3.536 3.709 3.702 3.780 3.765 3.816 3.744 3.889 5 4.289 4.550 4.540 4.659 4.637 4.714 4.604 4.827 6 4.996 5.360 5.345 5.514 5.483 5.592 5.437 5.752 7 5.661 6.140 6.120 6.344 6.303 6.449 6.241 6.664 8 6.284 6.891 6.865 7.151 7.098 7.286 7.020 7.563 9 6.870 7.613 7.581 7.936 7.870 8.103 7.772 8.449 10 7.420 8.308 8.270 8.698 8.618 8.901 8.500 9.323 11 7.936 8.977 8.932 9.439 9.344 9.680 9.204 10.185 12 8.421 9.621 9.569 10.159 10.048 10.441 9.885 11.035 13 8.876 10.241 10.181 10.858 10.731 11.184 10.544 11.872 14 9.303 10.837 10.770 11.538 11.394 11.910 11.181 12.698 15 9.705 11.411 11.336 12.199 12.036 12.618 11.797 13.512 16 10.081 11.963 11.880 12.841 12.659 13.310 12.393 14.315 17 10.435 12.495 12.403 13.465 13.264 13.986 12.969 15.106 18 10.768 13.007 12.906 14.072 13.850 14.646 13.526 15.886 19 11.079 13.499 13.390 14.661 14.419 15.291 14.065 16.655 20 11.372 13.973 13.855 15.234 14.970 15.920 14.586 17.414 21 11.647 14.430 14.302 15.791 15.506 16.534 15.090 18.162 22 11.906 14.869 14.732 16.332 16.025 17.134 15.578 18.899 23 12.148 15.291 15.146 16.858 16.528 17.720 16.049 19.626 24 12.376 15.698 15.543 17.369 17.016 18.293 16.505 20.342 25 12.590 16.090 15.925 17.865 17.490 18.851 16.946 21.049 26 12.790 16.466 16.293 18.348 17.949 19.397 17.373 21.745 27 12.979 16.829 16.646 18.817 18.395 19.930 17.785 22.432 28 13.156 17.178 16.986 19.272 18.827 20.450 18.184 23.109 29 13.322 17.514 17.313 19.715 19.246 20.958 18.570 23.776 30 13.478 17.837 17.627 20.146 19.653 21.455 18.943 24.434 Schedule 5A—Method for determining value of superannuation interest in fixed term annuity (paragraph 14Q(7)(d)) 1 Application of Schedule 5A This Schedule sets out the method for determining the value, at the termination time, of a superannuation interest in a fixed term annuity if the interest was in the payment phase at the termination time. 2 Method (1) The method is: where: B is the value of the annual benefit payable in respect of the superannuation interest at the termination time. Vy+m is the valuation factor calculated in accordance with subclause (2). (2) For subclause (1), the valuation factor (Vy+m) at the termination time is: where: Vy is the pension valuation factor under Schedule 5 that applies to the particular fixed term annuity payable to the member spouse and the remaining term of the annuity in complete years at the termination time. m is the number of complete months of the remaining term of the fixed term annuity that are not included in the remaining complete years at the termination time. Vy+1 is the pension valuation factor under Schedule 5 that would apply to the particular fixed term annuity payable to the member spouse if the remaining term of the annuity at the termination time were one year more than the actual remaining term of the annuity at that time. (3) For the purpose of applying the factors Vy and Vy+1 in the formula in subclause (2), a reference in Schedule 5 to 'pension' is taken to be read as a reference to 'annuity'. Schedule 6—Method for determining gross value of superannuation interest payable as pension and future lump sum (subregulation 43(3)) 1 Application of Schedule 6 This Schedule sets out the method for determining the gross value, at the relevant date, of a superannuation interest that is in the payment phase at the relevant date, if: (a) part of the benefits in respect of the interest is being paid as a pension at the relevant date; and (b) the remaining part of the benefits is payable, at any time after the relevant date, as a lump sum that is not a commutation of the pension. 2 Definitions for Schedule 6 In this Schedule: minimum deferral period, in relation to a lump sum that is to be paid to a member spouse at any time after the relevant date, means the minimum period until the lump sum may be paid to the member spouse. nominal value, of a lump sum at a particular date, means: (a) subject to paragraph (b), the value of the lump sum at that date; or (b) if the value of the lump sum is expressed as an amount of dollars to be paid at a time after that date, that amount. 3 Method (1) The method is: where: GVP is the gross value of the pension, determined in accordance with regulation 42. GVLS is the gross value of the lump sum, determined using the method of valuation set out in subclause (2). (2) For subclause (1), the method of determining the gross value of the lump sum (GVLS) is: where: LS is the nominal value of the lump sum at the relevant date. Dy+m is the discount valuation factor calculated in accordance with subclause (3). (3) For subclause (2), the discount valuation factor (Dy+m) at the relevant date is: where: Dy is the discount valuation factor mentioned in clause 4 of this Schedule that applies to the lump sum and the minimum deferral period in complete years at the relevant date. m is the number of complete months of the minimum deferral period applicable to the lump sum that are not included in the remaining complete years of that period at the relevant date. Dy+1 is the discount valuation factor mentioned in clause 4 of this Schedule that applies to the lump sum and the minimum deferral period applicable to the lump sum at the completion of the next year after the year mentioned in the definition of the factor Dy. 4 Discount valuation factors (1) This clause sets out the discount valuation factors. (2) The factors in column 2 of the table in this clause apply if the lump sum is not indexed. (3) The factors in column 3 of the table in this clause apply if the lump sum is indexed in accordance with the consumer price index. (4) The factors in column 4 of the table in this clause apply if the lump sum is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics). (5) If the lump sum is indexed in accordance with a fund crediting rate, the factor is 1. (6) For this Schedule, a lump sum is taken to be not indexed if the nominal value of the lump sum is an amount within the meaning of paragraph (b) of the definition of nominal value in clause 2 of this Schedule. Minimum deferral period for lump sum (in complete years) Discount valuation factors Lump sum not indexed CPI indexed lump sum Wage indexed lump sum 0 1.000 1.000 1.000 1 0.939 0.963 0.977 2 0.882 0.927 0.954 3 0.829 0.892 0.932 4 0.779 0.859 0.910 5 0.733 0.828 0.889 6 0.690 0.798 0.869 7 0.649 0.769 0.850 8 0.612 0.742 0.831 9 0.577 0.716 0.813 10 0.545 0.691 0.795 11 0.515 0.668 0.779 12 0.487 0.645 0.763 13 0.461 0.625 0.748 14 0.438 0.605 0.733 15 0.416 0.587 0.720 16 0.396 0.570 0.707 17 0.378 0.554 0.695 18 0.362 0.539 0.685 19 0.348 0.526 0.675 20 0.334 0.514 0.666 Schedule 7—Modifications of Division 6.2 (subregulation 46(2)) 1 Paragraph 49(1)(b) substitute (b) the lump sum is equal to or more than the sum of each adjusted base amount payable to the non‑member spouse and to each other person under a payment split with an earlier operative time. 2 Paragraph 50(1)(b) substitute (b) the lump sum is less than the sum of each adjusted base amount payable to the non‑member spouse and to each other person under a payment split with an earlier operative time. 3 Paragraph 50(2)(a) substitute (a) the amount remaining from the lump sum after each other person has received, under this regulation, the amount to which he or she is entitled under a payment split with an earlier operative time; and 4 Subregulation 51(6), definition of rV substitute rV is the remaining value of the superannuation interest after the payment of the lump sums, under paragraph 50(2)(a) and subparagraph (4)(b)(ii) of this regulation, to each other person under a payment split with an earlier operative time, and to the non‑member spouse, calculated in accordance with subregulation (7). 5 Subregulation 51(7) omit the non‑member spouse insert each other person under a payment split with an earlier operative time, and to the non‑member spouse, Endnotes Endnote 1—About the endnotes The endnotes provide information about this compilation and the compiled law. The following endnotes are included in every compilation: Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Abbreviation key—Endnote 2 The abbreviation key sets out abbreviations that may be used in the endnotes. Legislation history and amendment history—Endnotes 3 and 4 Amending laws are annotated in the legislation history and amendment history. The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation. The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law. Editorial changes The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date. If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel. Misdescribed amendments A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003. If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history. Endnote 2—Abbreviation key ad = added or inserted o = order(s) am = amended Ord = Ordinance amdt = amendment orig = original c = clause(s) par = paragraph(s)/subparagraph(s) C[x] = Compilation No. x /sub‑subparagraph(s) Ch = Chapter(s) pres = present def = definition(s) prev = previous Dict = Dictionary (prev…) = previously disallowed = disallowed by Parliament Pt = Part(s) Div = Division(s) r = regulation(s)/rule(s) ed = editorial change reloc = relocated exp = expires/expired or ceases/ceased to have renum = renumbered effect rep = repealed F = Federal Register of Legislation rs = repealed and substituted gaz = gazette s = section(s)/subsection(s) LA = Legislation Act 2003 Sch = Schedule(s) LIA = Legislative Instruments Act 2003 Sdiv = Subdivision(s) (md) = misdescribed amendment can be given SLI = Select Legislative Instrument effect SR = Statutory Rules (md not incorp) = misdescribed amendment Sub‑Ch = Sub‑Chapter(s) cannot be given effect SubPt = Subpart(s) mod = modified/modification underlining = whole or part not No. = Number(s) commenced or to be commenced Endnote 3—Legislation history Number and year FRLI registration or gazettal Commencement Application, saving and transitional provisions 303, 2001 15 Oct 2001 28 Dec 2002 (r. 2) 176, 2002 1 Aug 2002 28 Dec 2002 (r. 2) — 333, 2002 20 Dec 2002 28 Dec 2002 (r. 2) — 77, 2003 2 May 2003 2 May 2003 (r. 2) — 229, 2003 3 Sept 2003 3 Sept 2003 (r. 2) — 342, 2003 23 Dec 2003 23 Dec 2003 (r. 2) — 290, 2004 7 Sept 2004 Sch 1: 7 Sept 2004 — (r 2(a)) Remainder: 20 Sept 2004 (r 2(b)) 352, 2004 17 Dec 2004 17 Dec 2004 (r 2) — 69, 2005 27 Apr 2005 (F2005L00872) 15 May 2005 (r 2) — 89, 2005 26 May 2005 (F2005L01197) 15 June 2005 (r 2) — 151, 2007 25 June 2007 (F2007L01652) 1 July 2007 (r 2) — 13, 2008 6 Mar 2008 (F2008L00638) 7 Mar 2008 (r 2) — 19, 2009 5 Feb 2009 (F2009L00236) Sch 1: 6 Feb 2009 — (r 2(a)) Sch 2: 1 Mar 2009 (r 2(b)) 321, 2009 27 Nov 2009 (F2009L04293) 31 Dec 2009 (r 2) — 98, 2010 25 May 2010 (F2010L01320) 26 May 2010 (r 2) — 227, 2011 16 Dec 2011 (F2011L02708) 27 Dec 2011 (r 2) — 97, 2012 19 June 2012 (F2012L01251) Sch 1: 1 July 2011 — (s 2(a)) Sch 2: 20 June 2012 (s 2(b)) 16, 2013 5 Mar 2013 (F2013L00396) 15 Mar 2013 (s 2) — 137, 2013 28 June 2013 (F2013L01235) 1 July 2013 (s 2) — 113, 2015 10 July 2015 (F2015L01130) Sch 1 (item 7); 11 July 2015 (s 2(1) item 1) — Name Registration Commencement Application, saving and transitional provisions Superannuation Legislation Amendment (Western Australia De Facto Superannuation Splitting) Regulations 2021 23 Dec 2021 (F2021L01893) Sch 1 (items 1–139): 28 Sept 2022 (s 2(1) item 1) — Family Law (Superannuation) Amendment (2022 Measures No. 1) Regulations 2022 21 Mar 2022 (F2022L00360) Sch 1 (items 11–14): 28 Dec 2002 (s 2(1) item 3) — Remainder: 22 Mar 2022 (s 2(1) items 1, 2) Family Law (Superannuation) Amendment (2023 Measures No. 1) Regulations 2023 15 Sept 2023 (F2023L01248) 16 Sept 2023 (s 2(1) item 1) — Family Law (Superannuation) Amendment (Unsplittable Interests) Regulations 2023 17 Oct 2023 (F2023L01390) 18 Oct 2023 (s 2(1) item 1) — Treasury Laws Amendment (ALRC Financial Services Interim Report) Regulations 2023 31 Oct 2023 (F2023L01458) Sch 3 (item 5): 1 Nov 2023 (s 2(1) item 1) — Endnote 4—Amendment history Provision affected How affected Part 1 r 2..................... rep LA s 48D r 3..................... am No 176, 2002; No 333, 2002; No 77, 2003; No 290, 2004; No 352, 2004; No 89, 2005; No 151, 2007; F2021L01893; F2022L00360; F2023L01248 r 4..................... rs F2021L01893 r 5..................... am No 176, 2002; No 342, 2003; F2023L01248 r 6..................... am No 333, 2002 r 7..................... am No 176, 2002; No 89, 2005; No 151, 2007 r 9..................... rs No 290, 2004 r 9A.................... ad No 176, 2002 rs No 333, 2002; No 77, 2003 am No 229, 2003; No 69, 2005; No 89, 2005; No 151, 2007; No 16, 2013; No 113, 2015; F2021L01893 r 9B.................... ad No 69, 2005 rs No 13, 2008 am F2022L00360 r 10.................... am No 89, 2005; No 15, 2007; No 321, 2009; No 98, 2010; No 97, 2012; F2021L01893 r 10A................... ad No 176, 2002 am F2021L01893 r 11.................... am No 176, 2002; No 151, 2007; F2021L01893; F2022L00360 ed C23 am F2023L01248; F2023L01390 r 11A................... ad F2023L01248 Part 2 Division 2.1 Division 2.1 heading......... ad No 176, 2002 r 12.................... am No 176, 2002; No 333, 2002; No 77, 2003; No 151, 2007; F2021L01893; F2022L00360; F2023L01248 r 13.................... am No 176, 2002; F2021L01893 Division 2.2 Division 2.2............... ad No 176, 2002 Subdivision 2.2.1 heading ..... rep No 333, 2002 r 14.................... rs No 176, 2002 am F2021L01893 Subdivision 2.2.2 heading...... rep No 333, 2002 r 14A................... ad No 176, 2002 am No 89, 2005; No 151, 2007 r 14E................... ad No 176, 2002 rep No 333, 2002 r 14F................... ad No 176, 2002 am No 333, 2002; No 290, 2004 r 14G................... ad No 176, 2002 am No 333, 2002; No 229, 2003; No 290, 2004; No 352, 2004; No 89, 2005; No 151, 2007; F2021L01893 r 14H................... ad No 176, 2002 am No 89, 2005; No 151, 2007 Subdivision 2.2.3 heading...... rep No 333, 2002 r 14M................... ad No 176, 2002 rep No 333, 2002 r 14N................... ad No 176, 2002 am No 333, 2002; No 290, 2004; No 352, 2004; 2005 No 89; No 151, 2007; No 98, 2010; F2021L01893 r 14P................... ad No 89, 2005 am No 151, 2007 r 14Q................... ad No 89, 2005 am No 151, 2007 Part 3 Division 3.1 r 15.................... am F2021L01893 r 16.................... am F2021L01893 r 17.................... am No 333, 2002; F2021L01893 Division 3.2 r 18.................... am F2021L01893 r 19.................... am No 89, 2005; No 151, 2007 r 19A................... ad No 89, 2005 am No 151, 2007 Division 3.3 r 20.................... am No 151, 2007; F2021L01893 Part 4 Division 4.1 r 21.................... am F2021L01893 r 22.................... am No 333, 2002; No 151, 2007; F2021L01893 r 23.................... am F2021L01893 r 24.................... am No 333, 2002 Division 4.2 r 25.................... am F2021L01893 r 26.................... am No 89, 2005; No 151, 2007 r 26A................... ad No 89, 2005 am No 151, 2007 Part 5 Part 5 heading............. rs No 333, 2002 Division 5.1 r 27.................... am No 333, 2002; F2021L01893 r 28.................... am No 333, 2002 r 29.................... am No 176, 2002 rs No 333, 2002 r 30.................... am No 333, 2002; No 229, 2003; No 227, 2011 r 31.................... am No 176, 2002; No 333, 2002 r 32.................... am No 176, 2002 rs No 333, 2002 r 33.................... am No 229, 2003 r 34.................... am No 229, 2003 r 37.................... am No 333, 2002 r 38.................... am No 176, 2002; No 333, 2002; No 342, 2003; No 227, 2011 Division 5.2 r 39.................... am No 333, 2002; F2021L01893 r 40.................... am No 333, 2002 r 42.................... am No 176, 2002; No 333, 2002; No 290, 2004 r 43.................... am No 333, 2002; No 77, 2003; No 352, 2004 r 43A................... ad No 176, 2002 am No 227, 2011; No 333, 2002 Part 6 Division 6.1 r 44.................... am No 176, 2002 r 45.................... am F2021L01893 Division 6.1A Division 6.1A.............. ad No 333, 2002 r 45A................... ad No 333, 2002 am F2021L01893 r 45B................... ad No 333, 2002 r 45C................... ad No 333, 2002 r 45D................... ad No 333, 2002 am No 229, 2003; No 97, 2012; No 137, 2013 Division 6.2 r 46.................... am No 176, 2002; F2021L01893 r 47.................... am No 176, 2002 rep No 333, 2002 r 48.................... rs No 176, 2002 rep No 333, 2002 r 49.................... am No 176 , 2002; No 333, 2002 r 50.................... am No 176, 2002; No 333, 2002 r 51.................... am No 176, 2002; No 333, 2002; F2021L01893 r 52.................... am No 176, 2002; No 290, 2004 r 53.................... am No 176 , 2002; No 333, 2002; No 290, 2004 r 54.................... am No 176 , 2002; No 333, 2002; No 290, 2004 r 54A................... ad No 176, 2002 am No 333, 2002 rs No 290, 2004 Division 6.3 Division 6.3 heading......... rs No 176, 2002 Subdivision 6.3.1 Subdivision 6.3.1 heading...... ad No 176, 2002 r 55.................... am No 333, 2002; F2021L01893 Subdivision 6.3.2 Subdivision 6.3.2 heading...... ad No 176, 2002 r 55A................... ad No 176, 2002 r 56.................... am No 176, 2002; No 290, 2004 r 57.................... am No 176 , 2002; No 333, 2002; No 290, 2004 r 58.................... am No 176, 2002; No 333, 2002 r 58A................... ad No 176, 2002 am No 333, 2002 rs No 290, 2004 Subdivision 6.3.3 Subdivision 6.3.3........... ad No 176, 2002 r 58B................... ad No 176, 2002 r 58C................... ad No 176, 2002 am No 290, 2004 r 58D................... ad No 176, 2002 am No 333, 2002; No 290, 2004; F2021L01893 r 58E................... ad No 176, 2002 rs No 290, 2004 Part 7 Division 7.1 r 59.................... am No 176, 2002; F2021L01893 r 60.................... rs No 176, 2002 am F2021L01893; F2023L01458 Division 7.2 r 62.................... am F2021L01893 r 63.................... am No 176, 2002; No 333, 2002; No 77, 2003; No 229, 2003; No 290, 2004; No 151, 2007; No 227, 2011; F2021L01893 r 63A................... ad No 151, 2007 am F2021L01893 r 64.................... am No 176, 2002; No 333, 2002; No 77, 2003; No 229, 2003; No 290, 2004; No 352, 2004; No 151, 2007; No 227, 2011 rs No 151, 2007 am F2021L01893; F2022L00360 r 64A................... ad No 151, 2007 am F2021L01893; F2022L00360 r 65.................... am No 176, 2002 r 66.................... am No 176, 2002; No 333, 2002; No 229, 2003; No 290, 2004; No 89, 2005; No 151, 2007; F2021L01893 r 67.................... am No 176, 2002; No 333, 2002; No 290, 2004; No 151, 2007; F2021L01893 r 68.................... am F2021L01893 r 68A................... ad No 176, 2002 am No 77, 2003; No 19, 2009; F2021L01893 r 68B................... ad No 176, 2002 am No 227, 2011; F2021L01893 r 69.................... am F2021L01893 r 70.................... am No 176, 2002; No 333, 2002; F2021L01893 r 71.................... am No 176, 2002; No 290, 2004; F2021L01893 r 72.................... am No 333, 2002 Part 8 Part 8 heading............. rs F2023L01390 Part 8................... ad No 137, 2013 r 73.................... ad No 137, 2013 am F2023L01390 r 74.................... ad No 137, 2013 r 75.................... ad F2023L01390 Schedule 1 Form 1.................. am No 176, 2002; No 333, 2002; No 151, 2007 rs No 89, 2005; No 151, 2007 Form 2.................. am No 176, 2002 Form 3.................. am No 176, 2002 Form 4.................. am No 176, 2002 Form 5.................. am F2021L01893 Form 6.................. am No 333, 2002; F2021L01893 Schedule 1A Schedule 1A heading......... rs No 98, 2010 Schedule 1A.............. ad No 176, 2002 Part 1 Part 1 heading............. ad No 98, 2010 c 1..................... ad No 176, 2002 rs No 98, 2010 c 2..................... ad No 176, 2002 am No 352, 2004 rs No 98, 2010 Part 2 Part 2 heading............. rs F2021L01893 Part 2................... ad No 98, 2010 c 3..................... ad No 98, 2010 am F2021L01893 Part 3 Part 3 heading............. rs F2021L01893 Part 3................... ad No 98, 2010 c 4..................... ad No 98, 2010 am F2021L01893 Part 4 Part 4 heading............. ad No 98, 2010 c 5 (prev c 3).............. ad No 176, 2002 renum No 98, 2010 Schedule 2 Part 1 c 2..................... am No 176, 2002 rs No 290, 2004 Part 2 Part 2 heading............. rs No 290, 2004 c 3..................... am No 333, 2002; No 290, 2004; F2021L01893 Part 3 Part 3 heading............. rs No 290, 2004 c 5..................... am No 229, 2003; No 290, 2004; F2021L01893 c 7A.................... ad No 77, 2003 c 14A................... ad No 77, 2003 c 21A................... ad No 77, 2003 Part 4 Part 4 heading............. rs No 290, 2004 c 27.................... am No 176, 2002 rep No 290, 2004 c 28.................... am No 229, 2003 c 29.................... rs No 229, 2003 c 29A................... ad No 229, 2003 c 30.................... am No 229, 2003; F2021L01893 Part 5 Part 5................... ad No 290, 2004 c 31.................... ad No 290, 2004 am No 89, 2005 c 32.................... ad No 290, 2004 c 33.................... ad No 290, 2004 Part 6 Part 6................... ad No 290, 2004 c 34.................... ad No 290, 2004 am No 89, 2005; No 19, 2009; F2021L01893 c 35.................... ad No 290, 2004 c 36.................... ad No 290, 2004 am F2021L01893 Part 7 Part 7................... ad No 290, 2004 c 37.................... ad No 290, 2004 c 38.................... ad No 290, 2004 c 39.................... ad No 290, 2004 ed C22 Schedule 3 c 2..................... am No 176, 2003; No 333, 2002 c 3..................... am No 176, 2002 rs No 333, 2002 c 3A.................... ad No 333, 2002 c 4..................... rs No 333, 2002 Schedule 4 c 2..................... am F2021L01893 c 3..................... rs No 176, 2002 c 4..................... rs No 176, 2002 c 5..................... rs No 176, 2002 c 6..................... rs No 176, 2002 c 7..................... rs No 176, 2002 c 8..................... rs No 176, 2002 c 9..................... rs No 176, 2002 c 10.................... ad No 176, 2002 Schedule 4A Schedule 4A.............. ad No 89, 2005 Schedule 5 c 2..................... am No 176, 2002 c 3..................... rs No 229, 2003 Schedule 5A Schedule 5A.............. ad No 89, 2005 Schedule 6 c 3..................... am No 352, 2004 Schedule 7 Schedule 7 heading.......... rs No 290, 2004 Schedule 7................ ad No 176, 2002 c 1..................... ad No 176, 2002 c 2..................... ad No 176, 2002 c 3..................... ad No 176, 2002 c 4..................... ad No 176, 2002 c 5..................... ad No 176, 2002