Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(regulations 307-205.01 and 307-205.02)
1 Income stream valuation factors
(1) For subregulation 307-205.01 (2), the applicable factor is the factor given in Table 1 at the age which is the greater of:
(a) the minimum age at which a retirement benefit can be taken without requiring the consent of the employer; and
(b) the member's actual age as at his or her last birthday before 1 July 2007.
(2) For subregulation 307-205.02 (2), if the superannuation income stream in respect of the interest is payable for the life of the member, the applicable factor is the factor given in Table 1 for the age of the member at his or her last birthday before the day after the date on which the superannuation income stream is to be valued.
(3) For subregulation 307-205.02 (2), if the superannuation income stream in respect of the interest is payable for a fixed term, the applicable factor is the factor given in Table 2 for the number of complete years remaining in the term of the superannuation income stream on the day preceding the date on which the superannuation income stream is to be valued.
Table 1
|
Age |
Factor for indexed lifetime income stream |
Factor for non-indexed lifetime income stream |
||
|
18 |
23.238 |
15.405 |
||
|
19 |
23.158 |
15.385 |
||
|
20 |
23.084 |
15.366 |
||
|
21 |
23.016 |
15.349 |
||
|
22 |
22.956 |
15.334 |
||
|
23 |
22.906 |
15.322 |
||
|
24 |
22.862 |
15.312 |
||
|
25 |
22.816 |
15.302 |
||
|
26 |
22.763 |
15.289 |
||
|
27 |
22.694 |
15.271 |
||
|
28 |
22.612 |
15.248 |
||
|
29 |
22.523 |
15.223 |
||
|
30 |
22.422 |
15.194 |
||
|
31 |
22.310 |
15.160 |
||
|
32 |
22.193 |
15.124 |
||
|
33 |
22.076 |
15.086 |
||
|
34 |
21.950 |
15.045 |
||
|
35 |
21.821 |
15.002 |
||
|
36 |
21.691 |
14.958 |
||
|
37 |
21.553 |
14.911 |
||
|
38 |
21.410 |
14.861 |
||
|
39 |
21.266 |
14.809 |
||
|
40 |
21.113 |
14.754 |
||
|
41 |
20.956 |
14.695 |
||
|
42 |
20.790 |
14.632 |
||
|
43 |
20.609 |
14.562 |
||
|
44 |
20.421 |
14.487 |
||
|
45 |
20.229 |
14.409 |
||
|
46 |
20.030 |
14.326 |
||
|
47 |
19.823 |
14.239 |
||
|
48 |
19.610 |
14.148 |
||
|
49 |
19.391 |
14.052 |
||
|
50 |
19.164 |
13.950 |
||
|
51 |
18.931 |
13.844 |
||
|
52 |
18.691 |
13.732 |
||
|
53 |
18.443 |
13.615 |
||
|
54 |
18.189 |
13.492 |
||
|
55 |
17.927 |
13.364 |
||
|
56 |
17.659 |
13.230 |
||
|
57 |
17.383 |
13.089 |
||
|
58 |
17.100 |
12.943 |
||
|
59 |
16.810 |
12.790 |
||
|
60 |
16.513 |
12.631 |
||
|
61 |
16.209 |
12.465 |
||
|
62 |
15.891 |
12.287 |
||
|
63 |
15.558 |
12.099 |
||
|
64 |
15.213 |
11.900 |
||
|
65 |
14.861 |
11.693 |
||
|
66 |
14.506 |
11.480 |
||
|
67 |
14.144 |
11.260 |
||
|
68 |
13.775 |
11.032 |
||
|
69 |
13.396 |
10.794 |
||
|
70 |
13.011 |
10.548 |
||
|
71 |
12.627 |
10.297 |
||
|
72 |
12.230 |
10.035 |
||
|
73 |
11.815 |
9.756 |
||
|
74 |
11.398 |
9.471 |
||
|
75 |
10.983 |
9.183 |
||
|
76 |
10.566 |
8.889 |
||
|
77 |
10.144 |
8.587 |
||
|
78 |
9.723 |
8.282 |
||
|
79 |
9.314 |
7.980 |
||
|
80 |
8.898 |
7.669 |
||
|
81 |
8.486 |
7.357 |
||
|
82 |
8.087 |
7.051 |
||
|
83 |
7.697 |
6.748 |
||
|
84 |
7.323 |
6.455 |
||
|
85 |
6.966 |
6.172 |
||
|
86 |
6.627 |
5.901 |
||
|
87 |
6.311 |
5.647 |
||
|
88 |
6.010 |
5.402 |
||
|
89 |
5.728 |
5.171 |
||
|
90 |
5.465 |
4.954 |
||
|
91 |
5.218 |
4.750 |
||
|
92 |
4.991 |
4.561 |
||
|
93 |
4.773 |
4.379 |
||
|
94 |
4.566 |
4.205 |
||
|
95 |
4.360 |
4.031 |
||
Table 2
|
Number of years |
Factor for indexed fixed-term income stream |
Factor for non-indexed fixed-term income stream |
|
0 |
0.000 |
0.000 |
|
1 |
0.981 |
0.969 |
|
2 |
1.925 |
1.879 |
|
3 |
2.834 |
2.734 |
|
4 |
3.709 |
3.536 |
|
5 |
4.550 |
4.289 |
|
6 |
5.360 |
4.996 |
|
7 |
6.140 |
5.661 |
|
8 |
6.891 |
6.284 |
|
9 |
7.613 |
6.870 |
|
10 |
8.308 |
7.420 |
|
11 |
8.977 |
7.936 |
|
12 |
9.621 |
8.421 |
|
13 |
10.241 |
8.876 |
|
14 |
10.837 |
9.303 |
|
15 |
11.411 |
9.705 |
|
16 |
11.963 |
10.081 |
|
17 |
12.495 |
10.435 |
|
18 |
13.007 |
10.768 |
|
19 |
13.499 |
11.079 |
|
20 |
13.973 |
11.372 |
|
21 |
14.430 |
11.647 |
|
22 |
14.869 |
11.906 |
|
23 |
15.291 |
12.148 |
|
24 |
15.698 |
12.376 |
|
25 |
16.090 |
12.590 |
|
26 |
16.466 |
12.790 |
|
27 |
16.829 |
12.979 |
|
28 |
17.178 |
13.156 |
|
29 |
17.514 |
13.322 |
|
30 |
17.837 |
13.478 |
2 Lump sum valuation factors
(1) For subregulation 307-205.02 (2), the applicable factor is the discount valuation factor mentioned in subclause (3) that applies for the minimum deferral period.
(2) For the purposes of this clause, the minimum deferral period in relation to a lump sum that is to be paid at a time after the date on which an interest is to be valued is the number of complete years between the day before the date on which the interest is to be valued and the earliest date at which the lump sum can be paid.
(3) This subclause sets out the discount valuation factors, in accordance with the following principles:
(a) the factors in column 2 of table 3 apply if the lump sum is not indexed;
(b) the factors in column 3 of table 3 apply if the lump sum is indexed in accordance with the consumer price index;
(c) the factors in column 4 of table 3 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);
(d) if the lump sum is indexed in accordance with a fund crediting rate, the factor is 1.
Table 3
|
Minimum deferral period |
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 |
0.732 |
0.827 |
0.889 |
|
6 |
0.689 |
0.797 |
0.869 |
|
7 |
0.648 |
0.768 |
0.849 |
|
8 |
0.610 |
0.740 |
0.830 |
|
9 |
0.575 |
0.714 |
0.811 |
|
10 |
0.542 |
0.688 |
0.793 |
|
11 |
0.511 |
0.664 |
0.776 |
|
12 |
0.483 |
0.641 |
0.759 |
|
13 |
0.456 |
0.619 |
0.742 |
|
14 |
0.431 |
0.598 |
0.727 |
|
15 |
0.409 |
0.579 |
0.711 |
|
16 |
0.387 |
0.560 |
0.697 |
|
17 |
0.368 |
0.542 |
0.683 |
|
18 |
0.350 |
0.525 |
0.669 |
|
19 |
0.333 |
0.509 |
0.656 |
|
20 |
0.318 |
0.494 |
0.644 |
|
21 |
0.304 |
0.480 |
0.632 |
|
22 |
0.291 |
0.467 |
0.621 |
|
23 |
0.279 |
0.454 |
0.610 |
|
24 |
0.269 |
0.443 |
0.600 |
|
25 |
0.259 |
0.432 |
0.590 |
|
26 |
0.250 |
0.422 |
0.582 |
|
27 |
0.243 |
0.413 |
0.573 |
|
28 |
0.236 |
0.404 |
0.565 |
|
29 |
0.229 |
0.397 |
0.558 |
|
30 |
0.224 |
0.390 |
0.552 |
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