{"id":"F2009L02545","name":"Superannuation (Productivity Benefit) (2009-2010 Second Interest Factor) Declaration 2009","slug":"superannuation-productivity-benefit-2009-2010-second-interest-factor-declaration-2009","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":79469,"registerId":"commonwealth-F2009L02545-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2009-2010 Second Interest Factor) Declaration 2009","content":"![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2009\\-2010 Second Interest Factor) Declaration 20091\n\nI, LINDSAY TANNER, Minister for Finance and Deregulation, make the following Declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated June 23rd 2009\n\nLINDSAY TANNER\n\nMinister for Finance and Deregulation\n\n1 Name of Declaration\n\nThis Declaration is the Superannuation (Productivity Benefit) (2009\\-2010 Second Interest Factor) Declaration 2009.\n\n2 Commencement\n\nThis Declaration commences on 1 July 2009.\n\n3 Definition\n\nIn this Declaration:\n\n> Act means the Superannuation (Productivity Benefit) Act 1988.\n\n> Number of days is:\n\n(a) in the case of an employee who becomes a fund employee during the financial year commencing on 1 July 2009 — the number of days in the period:\n\n(i) starting on the day after the last day of the last pay period for the employee ending before 1 July 2009; 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 2009 — the number of days between:\n\n(i) the day after the last day of the last pay period for the employee ending before 1 July 2009; and\n\n(ii) the day on which the interim benefit becomes 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 2009, 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 for the employee ending before 1 July 2009; and\n\n(ii) 30 June 2010.\n\n4 Declared second interest factor\n\nFor section 8A of the Act, the declared second interest factor for the financial year commencing on 1 July 2009 is:\n\n| 0.0457 x Number of days |\n| ----------------------- |\n| 365                     |\n\nNote\n\n> Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.","sortOrder":0}],"analysis":{"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":"The Declaration does not change who is covered by the Act or eligibility rules. It only supplies a numeric parameter (the second interest factor) and a definition of ‘Number of days’ for calculating that parameter for the 2009–10 year, leaving the Act’s substantive coverage and payment triggers (s4F, s6, etc.) intact."},"complexity_factors":["Simple mathematical formula declared (single expression applying to the year)","Definition of ‘Number of days’ depends on three alternative employment/payment scenarios (references to s4F and s6)","Made by Ministerial declaration under paragraph 3E(1)(b) (straightforward delegated power)","Temporal scope limited to the 2009–10 financial year (no ongoing rule changes)","Requires precise day-counting and proportional calculation by administrators (administrative accuracy needed)"],"plain_english_summary":"This Declaration, effective 1 July 2009, fixes the “second interest factor” used in section 8A of the Superannuation (Productivity Benefit) Act 1988 for the 2009–10 year as (0.0457 × Number of days) / 365. It defines how to count “Number of days” in three employee scenarios (payment under s4F, interim benefit under s6, or neither) and is made by the Minister under paragraph 3E(1)(b). The change alters the arithmetic used to compute amounts payable to employees covered by the Act and requires administrators to apply the formula."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by its enabling provision (section 8A of the Superannuation (Productivity Benefit) Act 1988). It is an annual interest rate declaration, which is precisely what the Act requires the Minister to make each financial year. No scope creep is evident."},"complexity_factors":["Very short instrument (4 sections, ~250 words)","Only 2 defined terms ('Act' and 'Number of days')","Single mathematical formula with one variable","No cross-references to other legislation beyond the enabling Act","Simple conditional logic (three mutually exclusive scenarios in section 3)","No nested exceptions or complex temporal provisions"],"plain_english_summary":"This instrument fixes the \"second interest factor\" for 2009–10 under the Superannuation (Productivity Benefit) Act 1988, setting an annual rate of 4.57% prorated by relevant days ((0.0457 × days) ÷ 365). It affects former Commonwealth employees (or their estates) with preserved productivity benefits, ensuring those preserved entitlements accrue the correct interest for that year."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-2009-2010-second-interest-factor-declaration-2009","history":"/api/acts/superannuation-productivity-benefit-2009-2010-second-interest-factor-declaration-2009/history","analysis":"/api/acts/superannuation-productivity-benefit-2009-2010-second-interest-factor-declaration-2009/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2009-2010-second-interest-factor-declaration-2009/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2009-2010-second-interest-factor-declaration-2009/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2009-2010-second-interest-factor-declaration-2009/documents"}}