Income Tax Assessment Regulations 1997
Note: See subregulation 293-115.20(2) .
WORKING OUT DEFINED BENEFIT CONTRIBUTIONSPART 3 - VALUATION PARAMETERS 16 Exit rates 16(1)
The following table sets out the rates of voluntary exit from the fund that are to be assumed.
|Voluntary exit rates|
|Item||Age Band||Exit rate|
However, if an actuary certifies a benefit category under subclause 2(1) in relation to a person ' s membership of the Governor-General Pension Scheme, then, despite subclause (1) of this clause, the voluntary exit rates to be assumed for the benefit category are:
(a) the voluntary exit rates specified by the Governor-General Act 1974 ; or
(b) if that Act does not specify voluntary exit rates - the following rates:
(i) from the age of the person on the day he or she commences his or her appointment as Governor-General (the appointment day ), to his or her age on the fourth anniversary of the appointment day - 0.00;
(ii) from the age of the person on his or her next birthday after the fourth anniversary of the appointment day to any later age - 1.00.
The rate of involuntary exit (including by redundancy, death or invalidity) to be assumed is zero.
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