{"id":"F2008B00154","name":"Superannuation (Productivity Benefit) Declaration No. 11","slug":"superannuation-productivity-benefit-declaration-no-11","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"180 of 1992","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72691,"registerId":"commonwealth-F2008B00154-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) Declaration No. 11","content":"![](image.001.png)\n\nStatutory Rules 1992 No. 1801\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit)\n\nDeclaration No. 11\n\nI, RALPH WILLIS, Minister for Finance, make the following Declaration under paragraph 3e (1) (a) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 17th June1992.\n\nRALPH WILLIS\n\nMinister for Finance\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Declaration may be cited as Superannuation (Productivity Benefit) Declaration No. 11.\n\n\\[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46a and 48.\\]\n\n  \nDeclared first interest factor\n\n2. For the purposes of section 8a of the Superannuation (Productivity Benefit) Act 1988, the factor ascertained using the following formula is declared to be the declared first interest factor for the financial year commencing on 1 July 1992:\n\nwhere:\n\n“Interest rate” means 0.0945;\n\n“Days” means:\n\n(a) in the case of an employee who becomes a fund employee—the number of days in the period:\n\n(i) commencing on the last day of the first pay period of the employee ending after 1 July 1992; and\n\n(ii) ending at the end of the day on which an amount first becomes payable under section 4f of that Act; or\n\n(b) in the case of an employee who becomes entitled to receive an interim benefit under section 6 of that Act—the number of days between:\n\n(i) the last day of the first pay period of the employee ending after 1 July 1992; and\n\n(ii) the day on which the employee became entitled to receive the benefit; or\n\n(c) in the case of an employee who neither becomes a fund employee nor becomes entitled to receive an interim benefit—the number of days between:\n\n(i) the last day of the first pay period of the employee ending after 1 July 1992; and\n\n(ii) 30 June 1993.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nNOTE\n\n1. Notified in the Commonwealth of Australia Gazette on 25 June 1992.","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 annual interest factor for superannuation calculations. It is a routine annual instrument with narrow, well-defined scope consistent with the empowering provision (paragraph 3e(1)(a) of the Superannuation (Productivity Benefit) Act 1988)."},"complexity_factors":["Mathematical formula with defined variables requiring substitution","Three distinct conditional scenarios (a), (b), and (c) with different date calculations for each","Cross-reference to section 8a of the Superannuation (Productivity Benefit) Act 1988","Technical terms requiring external knowledge: 'fund employee', 'interim benefit', 'pay period'","Date calculation dependencies on employment status changes"],"plain_english_summary":"The instrument sets a fixed interest factor of 0.0945 (9.45%) for the 1992–93 year to calculate interest on certain superannuation benefits for Commonwealth public servants under the old productivity benefit scheme. \n\nIt affects employees joining the main fund, those receiving interim benefits, and others who neither joined nor received interim payouts; interest is computed from the end of the first pay period after 1 July 1992 to category-specific end dates, preserving the value of accrued entitlements."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument exercises the Minister's power under paragraph 3e(1)(a) to declare the first interest factor for the 1992–93 year (see title and clause 2). It does not alter who is covered by the Superannuation (Productivity Benefit) Act; it only sets the numeric parameter (interest rate) and the days‑counting rules to be applied under section 8a."},"complexity_factors":["Numeric parameter specification (interest rate fixed at 0.0945) requires straightforward arithmetic.","Conditional definition of 'Days' with three distinct cases (becoming a fund employee; entitlement to an interim benefit; neither), creating multiple computation paths.","Multiple cross-references to the parent Act (section 8a, sections 4f and 6, paragraph 3e(1)(a)) so administrators must read the Declaration alongside the Act.","Commencement note refers to Acts Interpretation Act 1901 (ss.46a and 48) for gazettal timing, a minor procedural consideration for implementation.","Administrative burden on payroll/superannuation officers to identify the correct case for each employee and apply the formula accurately."],"plain_english_summary":"This Declaration, made by the Minister for Finance under paragraph 3e(1)(a) of the Superannuation (Productivity Benefit) Act 1988, sets the 'declared first interest factor' for the financial year starting 1 July 1992. It fixes an interest rate (0.0945) and a days‑based formula used to calculate productivity benefit payments under section 8a.\n\nAdministrators and employers must apply the formula to calculate payments to employees in three possible situations (referencing s4f and s6). The Minister sets the numeric parameter; the Act defines who pays and who qualifies."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-declaration-no-11","history":"/api/acts/superannuation-productivity-benefit-declaration-no-11/history","analysis":"/api/acts/superannuation-productivity-benefit-declaration-no-11/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-declaration-no-11/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-declaration-no-11/important-cases","documents":"/api/acts/superannuation-productivity-benefit-declaration-no-11/documents"}}