Superannuation Industry (Supervision) Regulations 1994

SCHEDULE 6  

Subregulations 1.05(10) and 1.06(8)

PAYMENTS FOR MARKET LINKED INCOME STREAMS

SECTION 1.  

1.    
Subject to the following clauses, the total amount of the payments mentioned in paragraph 1.05(10)(b) or 1.06(8)(b) is determined using the formula:

AB PF

where:

AB means the amount of the market linked annuity account balance, or market linked pension account balance, as the case requires:

(a) on 1 July in the financial year in which the payment is made; or

(b) if that year is the year in which the market linked annuity or pension commences - on the commencement day.

PF means the payment factor set out in Column 3 in the Table in relation to the item in the Table that represents the term of the market linked annuity or pension remaining, expressed in whole years in accordance with clause 5 , on:

(a) 1 July in the financial year in which the payment is made; or

(b) if that is the year in which the annuity or pension commences - the commencement day.