{"id":"F2008B00177","name":"Superannuation (Productivity Benefit) (1999-2000 Second Interest Factor) Declaration 1999","slug":"superannuation-productivity-benefit-1999-2000-second-interest-factor-declaration-1999","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"137 of 1999","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":437057,"registerId":"F2008B00177-fast-fetch-1775954085602","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (1999-2000 Second Interest Factor) Declaration 1999","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\nSuperannuation (Productivity Benefit) (1999-2000 Second Interest Factor) Declaration 1999\n\nStatutory Rules 1999 No. 137\n\nI, john joseph fahey, Minister for Finance and Administration, make the following declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 20 June 1999.\n\njohn fahey  Minister for Finance and Administration\n\n \n\n![](image.001.png)\n\nSuperannuation (Productivity Benefit) (1999-2000 Second Interest Factor) Declaration 1999\n\nStatutory Rules 1999 No. 1371\n\nmade under the\n\nSuperannuation (Productivity Benefit) Act 1988\n\n \n\n \n\n \n\nContents\n\n Page\n\n 1 Name of declaration \n\n 2 Commencement \n\n 3 Definitions \n\n 4 Declared second interest factor \n\n \n\n \n\nDo not delete : Part placeholder\n\nDo not delete : Division placeholder\n\n1 Name of declaration\n\n  This declaration is the Superannuation (Productivity Benefit) (1999-2000 Second Interest Factor) Declaration 1999.\n\n2 Commencement\n\n  This declaration commences on gazettal.\n\n3 Definitions\n\n  In this declaration:\n\nAct means the Superannuation (Productivity Benefit) Act 1988.\n\nDays means:\n\n (a) in the case of an employee who becomes a fund employee during the financial year starting on 1 July 1999 — the number of days in the period:\n\n (i) starting on the day following the last day of the last pay period of the employee ending before 1 July 1999; 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 starting on 1 July 1999 — 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 1999; 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 starting on 1 July 1999 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 1999; and\n\n (ii) 30 June 2000.\n\n4 Declared second interest factor\n\n  For section 8A of the Act, the declared second interest factor for the financial year starting on 1 July 1999 is:\n\n \n\n0.0551 x Days.\n\n365\n\nNote\n\n1. Made by the Minister for Finance and Administration on  20 June 1999, and notified in the Commonwealth of Australia Gazette on 30 June 1999. \n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument does not expand or narrow who the Act covers or create new substantive obligations. It only specifies the numeric second interest factor for the 1999–2000 year and provides a precise day‑counting method for use in the Act’s existing benefit calculations (clauses 3–4)."},"complexity_factors":["Simple numeric formula: declared factor = 0.0551 × Days / 365 (clause 4).","‘Days’ definition has three alternative cases depending on employee status and timing (clause 3), requiring different start/end rules for counting.","Cross‑references to the Act’s payment provisions (sections 4F, 6 and 8A) mean administrators must apply this factor in the context of other statutory rules (clause 3; clause 4).","Operational burden: precise day‑counting tied to pay‑period boundaries and interim benefit dates increases administrative work for payroll/superannuation staff (clause 3).","Ministerial instrument: numeric choice set by the Minister under paragraph 3E(1)(b) of the Act (instrument preamble); once declared, the value must be applied for the stated financial year.","Immediate effect on gazettal (clause 2), so administrators needed to implement the calculation promptly."],"plain_english_summary":"This declaration sets the numeric “second interest factor” used to calculate productivity‑benefit interest for the 1999–2000 financial year: 0.0551 × Days ÷ 365. It affects employees and the administrators who calculate amounts under the Superannuation (Productivity Benefit) Act 1988 by defining how to count “Days” and fixing the factor the Act’s formula must use."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly the function intended by its enabling legislation (section 3E of the Superannuation (Productivity Benefit) Act 1988). It is a routine annual determination of an interest factor, which is precisely what the Act requires the Minister to declare each financial year. The scope has not expanded beyond this specific technical purpose."},"complexity_factors":["Very short document (4 operative sections)","Only 2 defined terms ('Act' and 'Days')","Simple mathematical formula: 0.0551 × Days ÷ 365","Three conditional definitions for 'Days' but these are straightforward temporal calculations","No cross-references to other legislation beyond the parent Act","Single purpose instrument with no exceptions or nested conditions"],"plain_english_summary":"This 1999 ministerial declaration sets the \"second interest factor\" at 5.51% for the 1999–2000 financial year. It determines the interest applied to productivity superannuation benefits for Commonwealth employees covered by the Superannuation (Productivity Benefit) Act 1988, affecting final retirement or leaving payments for that 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"}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1999-2000-second-interest-factor-declaration-1999","history":"/api/acts/superannuation-productivity-benefit-1999-2000-second-interest-factor-declaration-1999/history","analysis":"/api/acts/superannuation-productivity-benefit-1999-2000-second-interest-factor-declaration-1999/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1999-2000-second-interest-factor-declaration-1999/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1999-2000-second-interest-factor-declaration-1999/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1999-2000-second-interest-factor-declaration-1999/documents"}}