{"id":"F2010L01693","name":"Superannuation (Productivity Benefit) (2010-2011 Second Interest Factor) Declaration 2010","slug":"superannuation-productivity-benefit-2010-2011-second-interest-factor-declaration-2010","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":153016,"registerId":"commonwealth-F2010L01693-current","compilationNumber":null,"startDate":"2026-04-04","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2010-2011 Second Interest Factor) Declaration 2010","content":"![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2010\\-2011 Second Interest Factor) Declaration 20101\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 17th 2010\n\nLINDSAY TANNER\n\nMinister for Finance and Deregulation\n\n1 Name of Declaration\n\nThis Declaration is the Superannuation (Productivity Benefit) (2010\\-2011 Second Interest Factor) Declaration 2010.\n\n2 Commencement\n\nThis Declaration commences on 1 July 2010.\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 2010 — 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 2010; 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 2010 — 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 2010; 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 2010, 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 2010; and\n\n(ii) 30 June 2011.\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 2010 is:\n\n| 0.0571 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":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The Declaration does not change who is covered by the Superannuation (Productivity Benefit) Act 1988. It only declares the numerical second interest factor for the 2010–2011 year and specifies how to count days for that calculation (see clauses 2–4), under the authority of paragraph 3E(1)(b)."},"complexity_factors":["Single arithmetic formula: declared factor = (0.0571 × Number of days) ÷ 365 — low mathematical complexity.","Definition of \"Number of days\" uses three alternative cases (become fund employee during year; interim benefit payable during year; neither), requiring event‑date and pay‑period tracking (see clause 3).","Cross‑references to the Act (authority under paragraph 3E(1)(b); application to section 8A; references to sections 4F and 6) create dependence on statutory definitions and entitlement mechanics in the parent Act.","Operational implementation burden falls on superannuation administrators and employers to identify relevant dates and apply the pro‑rata calculation for each affected employee.","No discretionary formulas or thresholds introduced — instrument is a numeric declaration rather than a rules overhaul."],"plain_english_summary":"This Declaration sets the numeric \"second interest factor\" used to calculate productivity‑benefit superannuation payments for the 2010–2011 financial year. It fixes the factor as (0.0571 × Number of days) ÷ 365 and prescribes how to count \"Number of days\" for employees who become fund employees, receive interim benefits, or neither. It affects employees with entitlement events under the Superannuation (Productivity Benefit) Act 1988 and the funds/employers that must apply this per‑day calculation to determine payment amounts."},"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 an annual interest factor for productivity benefits. It is a routine, time-limited instrument that does not expand beyond the original purpose of the parent Act."},"complexity_factors":["Only 4 operative sections with minimal text","Single defined term ('Act') plus one complex defined concept ('Number of days') with three conditional branches","No cross-references to other legislation beyond the parent Act","Simple mathematical formula in a table format","Limited to a single financial year (2010-2011)"],"plain_english_summary":"This declaration fixes the interest rate used to calculate productivity benefit payments under the Superannuation (Productivity Benefit) Act 1988 for certain Commonwealth public servants for 2010–11. It affects employees in the CSS/PSS who joined, left with interim benefits, or stayed the year. The second interest factor is set at 5.71% p.a. (0.0571), governing interest on delayed payments."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-2010-2011-second-interest-factor-declaration-2010","history":"/api/acts/superannuation-productivity-benefit-2010-2011-second-interest-factor-declaration-2010/history","analysis":"/api/acts/superannuation-productivity-benefit-2010-2011-second-interest-factor-declaration-2010/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2010-2011-second-interest-factor-declaration-2010/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2010-2011-second-interest-factor-declaration-2010/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2010-2011-second-interest-factor-declaration-2010/documents"}}