Western Australian Consolidated Regulations

WORKERS' COMPENSATION AND INJURY MANAGEMENT REGULATIONS 1982 - REG 9A

9A .         Discount formula

                When calculating a lump sum redemption under section 68 of the Act the following formula shall be applied for use in conjunction with a compound discount table as set out in Appendix II.

DISCOUNT FORMULA UNDER SECTION 68(4)

Discounted sum = P x 52 x A

Where —

S =         prescribed amount less the sum of weekly payments made

P =         the weekly payment

Y =         the whole number equal to or next below

W = T — (52 x Y)

A =         the present value of $1.00 per annum payable weekly for Y years and W weeks obtained from the compound discount tables set out in Appendix II.

        [Regulation 9A inserted in Gazette 25 Jul 1986 p. 2484; amended in Gazette 2 Sep 1988 p. 3464.]