{"id":"F2008B00189","name":"Superannuation (Productivity Benefit) 1994-1995 First Interest Factor Declaration","slug":"superannuation-productivity-benefit-1994-1995-first-interest-factor-declaration","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"209 of 1994","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72847,"registerId":"commonwealth-F2008B00189-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) 1994-1995 First Interest Factor Declaration","content":"![](image.001.png)\n\nStatutory Rules 1994 No. 2091\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit) 1994-1995 First Interest Factor Declaration\n\nI, KIM CHRISTIAN BEAZLEY, Minister for Finance, make the following Declaration under paragraph 3E (1) (a) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 20 June 1994.\n\nKIM C. BEAZLEY\n\nMinister for Finance\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Declaration may be cited as Superannuation (Productivity Benefit) 1994-1995 First Interest Factor Declaration.\n\n> Note: \\[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.\\]\n\nInterpretation\n\n2. In this Declaration:\n\n“Act” means the Superannuation (Productivity Benefit) Act 1988;\n\n“Days” means:\n\n(a) in the case of an employee who becomes a fund employee—the number of days in the period:\n\n(i) commencing on the last day of the first pay period of the employee ending after 1 July 1994; and\n\n(ii) ending at the end of the day on which an amount first becomes payable under section 4f of the Act; or\n\n(b) in the case of an employee who becomes entitled to receive an interim benefit under section 6 of the Act—the number of days between:\n\n(i) the last day of the first pay period of the employee ending after 1 July 1994; and\n\n(ii) the day on which the employee became entitled to receive the benefit; or\n\n(c) in the case of an employee who neither becomes a fund employee nor becomes entitled to receive an interim benefit—the number of days between:\n\n(i) the last day of the first pay period of the employee ending after 1 July 1994; and\n\n(ii) 30 June 1995.\n\nDeclared first interest factor\n\n3. For the purposes of section 8a of the Act, the declared first interest factor for the financial year commencing on 1 July 1994 is:\n\n.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nNOTE\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 30 June 1994.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly its intended function: setting the annual interest factor for productivity benefit calculations. It has not expanded beyond its original narrow technical purpose."},"complexity_factors":["Very short document (only 3 operative sections plus citation and interpretation)","Only 2 defined terms ('Act' and 'Days')","Simple conditional structure with 3 mutually exclusive scenarios in the definition of 'Days'","Single cross-reference to the parent Act (Superannuation (Productivity Benefit) Act 1988)","No nested exceptions or complex procedural requirements","Straightforward mathematical application once the factor value is inserted"],"plain_english_summary":"A 1994 technical declaration by the Minister for Finance sets the formulaic framework for the “first interest factor” used to calculate productivity‑benefit superannuation entitlements for the 1994–95 year. It governs how interest is applied to affected Commonwealth public servants’ retirement savings (depending on whether they joined a fund, received interim benefits, or neither), ensuring those entitlements are adjusted for that financial year."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This Declaration does not change who is covered by the Act or create new entitlements. It implements the Act by fixing the first interest factor for 1994–95 (s.3) and specifying how to calculate the relevant number of days for pro‑rata computations (s.2), leaving the Act's eligibility and substantive rules intact."},"complexity_factors":["Narrow, single-purpose instrument: declares a single statutory value (s.3) and defines a timing formula (s.2).","Three alternative definitions of “Days” (s.2(a)–(c)) require administrators to determine which case applies to each employee.","Operational dependence on another statute: value used for calculations under s.8a of the Superannuation (Productivity Benefit) Act 1988 (declared in s.3).","Commencement note references Acts Interpretation Act rules (timing of effect tied to gazettal).","The declared numeric value appears omitted in the text provided, creating possible practical ambiguity for implementers."],"plain_english_summary":"This Declaration, made by the Minister for Finance on 20 June 1994, sets the “first interest factor” to be used under the Superannuation (Productivity Benefit) Act 1988 for the 1994–95 year and defines how to count “Days” for pro‑rata calculations. It changes how individual employees’ productivity‑benefit entitlements are calculated (covering fund employees and those receiving interim benefits) by fixing the interest factor and timing rules for entitlement measurement."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1994-1995-first-interest-factor-declaration","history":"/api/acts/superannuation-productivity-benefit-1994-1995-first-interest-factor-declaration/history","analysis":"/api/acts/superannuation-productivity-benefit-1994-1995-first-interest-factor-declaration/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1994-1995-first-interest-factor-declaration/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1994-1995-first-interest-factor-declaration/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1994-1995-first-interest-factor-declaration/documents"}}