{"id":"F2006B11510","name":"Superannuation (Productivity Benefit) (2001-2002 Second Interest Factor) Declaration 2001","slug":"superannuation-productivity-benefit-2001-2002-second-interest-factor-declaration-2001","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"168 of 2001","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":57442,"registerId":"commonwealth-F2006B11510-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2001-2002 Second Interest Factor) Declaration 2001","content":"![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2001–2002 Second Interest Factor) Declaration 2001\n\nStatutory Rules 2001 No. 1681\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 24 June 2001\n\nJOHN FAHEY\n\nMinister for Finance and Administration\n\n1 Name of Declaration\n\nThis Declaration is the Superannuation (Productivity Benefit) (2001–2002 Second Interest Factor) Declaration 2001.\n\n2 Commencement\n\nThis Declaration commences on gazettal.\n\n3 Definitions\n\nIn 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 starting on 1 July 2001 — 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 2001; 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 2001 — 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 2001; 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 2001 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 2001; and\n\n(ii) 30 June 2002.\n\n4 Declared second interest factor\n\nFor section 8A of the Act, the declared second interest factor for the financial year starting on 1 July 2001 is:\n\n0.0578  Days.\n\n365\n\nNote\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 29 June 2001.","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":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly its intended function: setting a specific interest factor for a specific financial year under the parent Act. It has not expanded beyond its original narrow, technical purpose."},"complexity_factors":["Only 4 short sections with minimal text","3 defined terms in the interpretation section (Act, Days, and implicit financial year references)","Single mathematical formula with one variable (Days)","Three straightforward conditional scenarios for calculating 'Days' (new employee, interim benefit paid, or neither)","No cross-references to other legislation beyond the parent Act (Superannuation (Productivity Benefit) Act 1988)","No nested exceptions or complex conditional logic"],"plain_english_summary":"This declaration fixes the interest rate (5.78% or 0.0578) used to calculate the Superannuation (Productivity Benefit) for the 2001–2002 Australian financial year. It affects public servants in the government superannuation fund — including those who joined, left with an interim benefit, or remained — and determines how much interest the government must pay on certain employer super contributions for that year."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The Declaration does not change who is covered by the Superannuation (Productivity Benefit) Act 1988. It specifies the numeric second interest factor for the 2001–2002 financial year and defines how to count \"Days\" for that calculation (sections 3 and 4), without altering eligibility, entitlement triggers, or substantive provisions of the Act."},"complexity_factors":["Formula itself is simple (numeric multiplier and division) but produces prorated, per‑employee calculations (section 4).","Multiple alternative definitions of \"Days\" depending on employment/benefit events—three distinct scenarios that require selecting the correct branch (section 3(a)–(c)).","Operational need to determine exact dates: last day of last pay period before 1 July 2001, date an amount first becomes payable under s4F, date an interim benefit became payable under s6, or 30 June 2002 (section 3).","Dependence on interpretations of Act provisions referenced in the definitions (s4F and s6), creating cross‑statute reading requirements (section 3).","Administrative and record‑keeping burden on employers and funds to track and prove date calculations for each affected employee (sections 3 and 4).","Temporal limitation to the financial year starting 1 July 2001 requires correct application window and attention to commencement on gazettal (section 2).","Declaration made under ministerial power (paragraph 3E(1)(b) of the Act) — a single executive instrument sets the numeric parameter rather than a legislative amendment."],"plain_english_summary":"Declares the \"second interest factor\" used to calculate Superannuation (Productivity Benefit) for the 2001–2002 financial year as (0.0578 × Days) ÷ 365 (see section 4). \"Days\" is precisely defined by three employment scenarios (section 3), so employers and fund administrators must count days per those rules and apply the formula to compute payable amounts."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-2001-2002-second-interest-factor-declaration-2001","history":"/api/acts/superannuation-productivity-benefit-2001-2002-second-interest-factor-declaration-2001/history","analysis":"/api/acts/superannuation-productivity-benefit-2001-2002-second-interest-factor-declaration-2001/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2001-2002-second-interest-factor-declaration-2001/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2001-2002-second-interest-factor-declaration-2001/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2001-2002-second-interest-factor-declaration-2001/documents"}}