{"id":"F2006B11511","name":"Superannuation (Productivity Benefit) (2000-2001 Second Interest Factor) Declaration 2000","slug":"superannuation-productivity-benefit-2000-2001-second-interest-factor-declaration-2000","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"168 of 2000","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":436753,"registerId":"F2006B11511-fast-fetch-1775953851670","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2000-2001 Second Interest Factor) Declaration 2000","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) (2000–2001 Second Interest Factor) Declaration 2000\n\nStatutory Rules 2000 No. 168\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 18 June 2000\n\njohn fahey\n\nMinister for Finance and Administration\n\n![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2000–2001 Second Interest Factor) Declaration 2000\n\nStatutory Rules 2000 No. 1681\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) (2000–2001 Second Interest Factor) Declaration 2000.\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 2000 — 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 2000; 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 2000 — 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 2000; 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 2000 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 2000; and\n\n (ii) 30 June 2001.\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 2000 is:\n\n \n\n0.0639  Days.\n\n365\n\nNote\n\n1. Notified in the Commonwealth of Australia Gazette on 28 June 2000. \n\n \n","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"},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This declaration performs exactly its intended function: setting a specific numerical interest factor for a single financial year under the parent Act. It has not expanded beyond its original technical purpose."},"complexity_factors":["Only 4 substantive sections with minimal cross-referencing","Single mathematical formula (0.0639 × Days ÷ 365)","Three-part conditional definition of 'Days' with nested sub-paragraphs (a)(i)-(ii), (b)(i)-(ii), (c)(i)-(ii)","Requires understanding of the parent Act (Superannuation (Productivity Benefit) Act 1988) to fully comprehend context","Technical terminology specific to public sector superannuation ('fund employee', 'interim benefit', 'pay period')","No exceptions to exceptions or deeply nested logic"],"plain_english_summary":"This technical declaration fixes the “second interest factor” at 6.39% (0.0639) for 2000–01 under the Superannuation (Productivity Benefit) Act 1988. It determines how interest is applied to benefits for remaining members of the closed Productivity Benefit scheme—affecting Commonwealth employees’ superannuation payouts for that year."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This Declaration does not change the scope of the underlying Act. It is a routine, technical instrument that fixes a numeric input (the second interest factor) and defines the pro‑rata Days periods for the 2000–01 financial year as required by the Act. It does not amend eligibility, create new categories of beneficiaries, or alter substantive rules of the Act; it only determines payment magnitude for that year (sections 3–4)."},"complexity_factors":["Very short instrument (4 substantive clauses plus formal matters)","Single numeric formula provided (section 4) with one multiplicative parameter (0.0639) and a Days/365 pro‑rata factor","One defined term with three alternative sub‑cases (\"Days\" in section 3)","Cross‑references to three provisions of the Act (section 8A, and references in Days to sections 4F and 6) but no additional conditional layers or nested exceptions","Commencement is immediate on gazettal (section 2), so no phased application rules"],"plain_english_summary":"**What this instrument does (mechanically)\n\n- This Declaration sets the numeric \"declared second interest factor\" that must be used under section 8A of the Superannuation (Productivity Benefit) Act 1988 for the financial year beginning 1 July 2000 (see section 4).\n- The formula it prescribes is: 0.0639 × Days / 365, where \"Days\" is a pro‑rata count defined in section 3 depending on the employee's circumstances (see below).\n- The Declaration takes effect on gazettal (section 2).\n\nWho is affected\n\n- Employees covered by the Superannuation (Productivity Benefit) Act 1988 whose productivity benefit includes the \"second interest\" component under section 8A. In practice that means: fund employees who become fund employees during the 2000–01 year, employees for whom an interim benefit becomes payable during that year, and employees who neither become fund employees nor receive an interim benefit during the year — because the instrument defines how to count \"Days\" for each of those situations (section 3).\n- The official who made the instrument (the Minister for Finance and Administration) is the decision‑maker who set the factor (front matter).\n\nWhy it matters (stated purpose and practical effect)\n\n- Stated purpose: to prescribe the second interest factor for calculating a component of the productivity benefit payable under the Act for the 2000–01 financial year (front matter and section 4).\n- Practical effect: the declared factor determines the size of the second interest portion of any productivity benefit payable under the Act for 2000–01. The payment is pro‑rated by the number of days in the relevant period (the \"Days\" fraction in the formula). That means each eligible employee's second interest payment will vary directly with the Days count as defined in section 3.\n\nSource claims and a brief test against costs, incentives and implementation issues\n\n- Source claim: this Declaration gives effect to the Act by fixing the numeric factor the Act requires for the year (front matter; section 4). That is a technical, formulaic task rather than a change of policy.\n- Who pays and who benefits: the benefit payments calculated with this factor are payable under the Act (sections referenced above). Direct beneficiaries are eligible employees who receive productivity benefit payments for 2000–01. The payer is the entity required by the Act to make the benefit (the Act, not this Declaration, determines who pays).\n- Incentives and private choice: the instrument is a numerical input to a statutory formula. It does not create new behavioural rules for employees or employers; it only affects payment quantum. It neither restricts nor expands individuals' contractual freedom outside the Act's existing benefit entitlement rules.\n- Fiscal and distributional trade‑offs: a higher numerical factor increases total payments made under the Act in aggregate; a lower factor reduces them. This Declaration fixes that contingent fiscal effect for the year by specifying the factor.\n- Implementation and compliance burden: administrative burden is minimal and mechanical — administrators must apply the formula and use the appropriate Days count (section 3). The only operational task is accurate calculation and record‑keeping of the Days periods described in three alternative sub‑cases.\n- Discretion and risk: the instrument exercises ministerial prescription of a number. It does not create broad administrative discretion or new exceptions. The main implementation risk is miscomputing Days or applying the wrong sub‑case from section 3.\n\nKey text mechanics to note\n\n- \"Days\" is defined in three alternative limbs (section 3):\n  - (a) for employees who become fund employees during 2000–01 — from the day after the last pay period ending before 1 July 2000, to the day an amount first becomes payable under s4F of the Act;\n  - (b) for employees who get an interim benefit under s6 of the Act during 2000–01 — from the day after the last pay period ending before 1 July 2000 to the day the interim benefit became payable; and\n  - (c) for employees who neither become fund employees nor receive an interim benefit during 2000–01 — from the day after the last pay period ending before 1 July 2000 to 30 June 2001.\n- The declared second interest factor itself is 0.0639 multiplied by Days, divided by 365 (section 4).\n\nBottom line\n\nThis is a routine, year‑specific ministerial declaration that supplies the numeric factor required by the Superannuation (Productivity Benefit) Act 1988 to calculate the second interest element of productivity benefit payments for 2000–01. It alters payment magnitudes for eligible employees by fixing the factor and the pro‑rata Days definition; it does not change eligibility rules or broader policy settings in the Act (sections 3–4)."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-2000-2001-second-interest-factor-declaration-2000","history":"/api/acts/superannuation-productivity-benefit-2000-2001-second-interest-factor-declaration-2000/history","analysis":"/api/acts/superannuation-productivity-benefit-2000-2001-second-interest-factor-declaration-2000/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2000-2001-second-interest-factor-declaration-2000/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2000-2001-second-interest-factor-declaration-2000/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2000-2001-second-interest-factor-declaration-2000/documents"}}