{"id":"F2008B00170","name":"Superannuation (Productivity Benefit) 1995-96 Second Interest Factor Declaration","slug":"superannuation-productivity-benefit-1995-96-second-interest-factor-declaration","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"176 of 1995","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72750,"registerId":"commonwealth-F2008B00170-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) 1995-96 Second Interest Factor Declaration","content":"![](image.001.png)\n\nStatutory Rules 1995 No. 1761\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit) 1995-96 Second Interest Factor Declaration\n\nI, KIM CHRISTIAN BEAZLEY, Minister for Finance, make the following Declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 21 June 1995.\n\nKIM C. BEAZLEY\n\nMinister for Finance\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Declaration may be cited as the Superannuation (Productivity Benefit) 1995-96 Second 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 during the financial year commencing on 1 July 1995—the number of days in the period:\n\n(i) commencing on the day following the last day of the last pay period of the employee ending before 1 July 1995; 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 in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year commencing on 1 July 1995—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1995; and\n\n(ii) the day on which the interim benefit became payable; or\n\n(c) in the case of an employee who does not become a fund employee during the financial year commencing on 1 July 1995 and in respect of whom an interim benefit does not become payable during that year—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1995; and\n\n(ii) 30 June 1996.\n\nDeclared second interest factor\n\n3. For the purposes of section 8a of the Act, the declared second interest factor for the financial year commencing on 1 July 1995 is:\n\n.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nNOTE\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 30 June 1995.","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"This declaration implements an existing statutory power by specifying a year‑specific interest factor and clarifying how to count days for pro‑rata calculations. It does not alter who is eligible for benefits, the underlying entitlement rules of the Act, or expand the Act’s coverage; it only sets a parameter used in calculating payable amounts."},"complexity_factors":["Dependence on other Act provisions (power to declare under paragraph 3E(1)(b) and application in section 8A) — requires cross‑reference to understand effect","Three alternative rules for counting 'Days' (employees who become fund employees, those with interim benefits, and others) introduce conditional, pro‑rata calculations (Interpretation, cl 2)","Instrument is year‑specific (financial year commencing 1 July 1995) so administrators must apply the correct vintage factor","Commencement on gazettal (Acts Interpretation Act 1901, ss 46A and 48) creates immediate operational timing obligations","Ministerial discretion to set the numeric factor centralises decision‑making (form and content in cl 3)","The declared value slot in cl 3 is blank in the text provided, which would create implementation ambiguity if adopted as‑is","Administrative compliance burden on employers/fund administrators to recalculate benefits and record days for differing employee statuses"],"plain_english_summary":"This short declaration by the Finance Minister appoints the numeric “second interest factor” used to calculate productivity‑benefit payments for the 1995–96 year and fixes how to count the relevant number of days for pro‑rata calculations. Mechanically, the Minister supplies a year‑specific factor and administrators or employers must apply it when computing amounts under the Superannuation (Productivity Benefit) Act 1988, creating an administrative step that affects the size and timing of payments to employees."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This declaration serves its original narrow purpose: setting a specific numerical factor for superannuation calculations for a single financial year. It has not expanded beyond the technical administrative function envisioned in the parent Superannuation (Productivity Benefit) Act 1988."},"complexity_factors":["Only 3 defined terms in the interpretation section ('Act', 'Days', and the implicit financial year reference)","Simple tripartite conditional structure (three scenarios for calculating days: new fund employees, interim benefit recipients, and continuing employees)","Single operative provision (section 3) with a blank value to be filled in (the actual interest factor number appears to be missing or redacted in the source)","No cross-references to other legislation beyond the parent Act and standard commencement provisions","Straightforward temporal logic based on pay periods and specific dates","Limited to one financial year (1995-96), making it a time-bound instrument rather than ongoing complex regulation"],"plain_english_summary":"This short 1995 Minister for Finance declaration fixes the \"second interest factor\" used to calculate superannuation payments for certain Commonwealth public servants in the old productivity benefit scheme for 1995–96. It determines the numeric multiplier applied when people join the fund, get interim benefits, or stay employed through the year, and specifies three different day‑counting methods so calculations remain fair across changing employment circumstances."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1995-96-second-interest-factor-declaration","history":"/api/acts/superannuation-productivity-benefit-1995-96-second-interest-factor-declaration/history","analysis":"/api/acts/superannuation-productivity-benefit-1995-96-second-interest-factor-declaration/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1995-96-second-interest-factor-declaration/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1995-96-second-interest-factor-declaration/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1995-96-second-interest-factor-declaration/documents"}}