South Australian Repealed Regulations

This legislation has been repealed.

SOUTHERN STATE SUPERANNUATION REGULATIONS 1995 - REG 15

15—Transitional arrangement for certain police members (Schedule 3 clause 15)

For the purposes of subclause (11)(b) of clause 15 of Schedule 3 of the Act, the benefits to which a police member may be entitled under that subclause on his or her retirement in lieu of benefits under section 31 of the Act are to be determined in accordance with the following formula:

where—

"LS" is the minimum benefit

"FS" is the member's actual or attributed salary as defined by the Police Superannuation Act 1990 (expressed as an annual amount)

"X" is the number of months (if any) by which the member's age at retirement exceeds 50 years, with a maximum value of 60

"Y" is the number of months (if any) by which the member's age at retirement exceeds 55 years

"Pn" is—

            (a)         in the case of a member who was employed on a full-time basis throughout his or her membership of the Police Superannuation Scheme and the Triple S Scheme—1; and

            (b)         in any other case—

"A" is the lesser of the following:

(a)	unity;
(b)

"M" is the number of completed months between the day on which the member commenced service and the day of his or her retirement

"D" is—

            (a)         if the age of the member at retirement is less than 55—360;

            (b)         if the age of the member at retirement is 55 or greater but less than 60—360 plus Y;

            (c)         if the age of the member at retirement is 60 or greater—420

"Pn8" is, for the period of the member's membership of the Police Superannuation Scheme—

            (a)         in the case of a member who was employed on a full-time basis throughout his or her membership of that Scheme—1; and

            (b)         in any other case—the numerical value arrived at by expressing the member's employment for the period beginning on the day on which he or she became a member of that Scheme and ending on the day immediately before he or she became a member of the Triple S Scheme as a proportion of full-time employment during that period

"M8" is the number of completed months between the day the member commenced service and the day immediately before the day on which he or she became a member of the Triple S Scheme

"PnTS" is, for the period of the member's membership of the Triple S Scheme—

            (a)         in the case of a member who was employed on a full-time basis throughout his or her membership of that Scheme—1; and

            (b)         in any other case—the numerical value arrived at by expressing the member's employment for the period beginning on the day on which he or she became a member of that Scheme and ending on the day of his or her retirement as a proportion of full-time employment during that period.