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s 15

Reduction of productivity superannuation benefit

In force

15 Reduction of productivity superannuation benefit

(1)

For subsection 52(5) of the Defence Act, this clause applies to a productivity superannuation benefit in respect of the original interest if the benefit becomes payable at a time after the operative time.

(2)

The amount to which the productivity benefit payable to the member spouse after the operative time is to be reduced is to be worked out in accordance with the benefit reduction methodology developed and maintained by an actuary for this clause.

Schedule—Factors concerned in the calculation of interest applicable in respect of certain calendar years

Note: See clauses 8A and 8AA.

Column 1

Column 2

Calendar year

Factor

1989

0.1286

1990

0.1293

1991

0.1201

1992

0.0951

1993

0.0760

1994

0.0572

1995

0.0853

1996

0.0695

1997

0.0626

1998

0.0514

1999

0.0426

2000

0.0588

2001

0.0490

2002

0.0511

2003

0.0439

2004

0.0476

2005

0.0453

2006

0.0442

2007

0.0501

2008

0.0633

2009

0.0399

2010

0.0565

2011

0.0551

2012

0.0367

2013

0.0327

2014

0.0423

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