OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)
SCHEDULE 2
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CALCULATION OF OLD RBM
If a fund specifies benefits payable to a member in terms of the member ' s final salary or in similar terms, the multiple of salary is, for the purposes of this Schedule, to be converted into a multiple of the person ' s HAS using the formula:
(regulation 4A )
CLAUSE 10 10 CONVERSION TO MULTIPLE OF HASIf a fund specifies benefits payable to a member in terms of the member ' s final salary or in similar terms, the multiple of salary is, for the purposes of this Schedule, to be converted into a multiple of the person ' s HAS using the formula:
| M × 1.08 1.5 − K |
where:
K
is the number of years used under the governing rules of the fund from the midpoint of the averaging period for calculating the multiple of salary until the end of that period;
M
is the multiple of salary used under those rules.
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