AustLII Tasmanian Numbered Regulations

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RETIREMENT BENEFITS (PARLIAMENTARY SUPERANNUATION) REGULATIONS 2012 (S.R. 2012, NO. 119) - SCHEDULE 4

- Conversion Factors for purposes of regulation 30

SCHEDULE 4 - Conversion Factors for purposes of regulation 30

Regulation 30

PART 1
For the purposes of regulation 30 , the conversion factor for determining a lump sum payment under that regulation for each $1 converted on behalf of a child is, subject to Part 2 , as follows:

Age of child on expiration of period of 3 months referred to in regulation 30

Conversion factor

0

11·15

1

10·79

2

10·41

3

10

4

9·57

5

9·12

6

8·63

7

8·12

8

7·58

9

7

10

6·39

11

5·75

12

5·06

13

4·34

14

3·57

15

2·75

16

1·89

17

0·97

18

0

PART 2
The conversion factor relating to any age is to be reduced by 1/12th of the difference between that factor and the next following factor for each complete month by which the age of the child entitled exceeds that for which a factor is given.

Displayed and numbered in accordance with the Rules Publication Act 1953 .

Notified in the Gazette on 12 December 2012

These regulations are administered in the Department of Treasury and Finance.

EXPLANATORY NOTE

(This note is not part of the regulation)

These regulations –
(a) provide for the continuation of the Parliamentary Superannuation Fund established under the Parliamentary Superannuation Act 1973 and the Parliamentary Retiring Benefits Fund established under the Parliamentary Retiring Benefits Act 1985 ; and
(b) provide for the preservation of entitlements to pensions and other benefits under those Acts; and
(c) are made consequentially on the repeal of the Retirement Benefits (Parliamentary Superannuation) Regulations 2002 under section 11 of the Subordinate Legislation Act 1992 .


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