{"id":"F2008B00151","name":"Superannuation (Productivity Benefit) Declaration No. 7","slug":"superannuation-productivity-benefit-declaration-no-7","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"124 of 1991","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72684,"registerId":"commonwealth-F2008B00151-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) Declaration No. 7","content":"![](image.001.png)\n\nStatutory Rules 1991 No. 1241\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit)\n\nDeclaration No. 7\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 5 June 1991.\n\nRALPH WILLIS\n\nMinister for Finance\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Declaration may be cited as Superannuation (Productivity Benefit) Declaration No. 7.\n\n  \n\nSpecified formula\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 1991:\n\nwhere:\n\n“Interest rate” means 0.11;\n\n“Days” means:\n\n(a) in the case of an employee who becomes a fund employee—the number of days between the date of the last day of the first pay period of the employee ending after 1 July 1991 and the day on which an amount first becomes payable under section 4f of that Act and including both of those days; 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 the date of the last day of the first pay period of the employee ending after 1 July 1991 and 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 the date of the last day of the first pay period of the employee ending after 1 July 1991 and 30 June 1992.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nNOTE\n\n1. Notified in the Commonwealth of Australia Gazette on 21 June 1991.","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"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly the function intended by the parent Act — setting an annual interest factor for a specific financial year. It has not expanded beyond its original purpose."},"complexity_factors":["Very short document (only 2 operative sections plus citation)","Single mathematical formula with three conditional definitions for 'Days'","Only one defined term ('Interest rate') with a fixed value","No cross-references to other legislation beyond the enabling Act","Simple conditional logic (three mutually exclusive scenarios in subparagraphs 2(a), (b), and (c))","No nested exceptions or complex provisos"],"plain_english_summary":"This short 1991 law declares the interest factor for 1991–92 as 11% to be used in calculating interest on productivity benefit (superannuation) payments under the Superannuation (Productivity Benefit) Act 1988. It affects Australian government employees—including new fund joiners, recipients of interim benefits, and others—ensuring delayed retirement payments accrue a high, inflation-offsetting interest rate so employees’ savings aren’t eroded by payment delays."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This Declaration does not alter who is covered by the Superannuation (Productivity Benefit) Act 1988. It mechanically specifies the declared first interest factor for the 1991–92 year (interest rate = 0.11 and a days-count rule) required by section 8a of the Act, so it changes calculation parameters but not statutory eligibility or substantive entitlements (Declaration, para 2; Act s 8a)."},"complexity_factors":["Cross-references to the Superannuation (Productivity Benefit) Act 1988 (notably section 8a for the declared factor and sections 4f and 6 for triggering events) require administrators to consult the parent Act to apply the declaration (Declaration, para 2; Act ss 8a, 4f, 6).","Conditional definition of 'Days' with three separate cases (employee becomes a fund employee; employee becomes entitled to an interim benefit; neither event occurs) requires case-by-case determination of relevant dates (Declaration, para 2).","The phrase 'the last day of the first pay period of the employee ending after 1 July 1991' demands precise payroll record checks to identify the correct start point for counting days (Declaration, para 2).","Numerical simplicity (single fixed interest rate 0.11) reduces arithmetic complexity but creates sensitivity to correct day counts for final amounts (Declaration, para 2).","Ministerial declaration mechanism concentrates decision-making power in the Minister under paragraph 3e(1)(a) of the Act, creating a single-point of administrative specification (preamble and para 2)."],"plain_english_summary":"This Declaration sets the numerical rule used to calculate the “declared first interest factor” for the 1991–92 financial year under the Superannuation (Productivity Benefit) Act 1988. It fixes an interest rate of 0.11 and defines how to count days for different employee circumstances (fund employees, those entitled to interim benefits, or others), so administrators must apply that factor when computing productivity-benefit interest."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-declaration-no-7","history":"/api/acts/superannuation-productivity-benefit-declaration-no-7/history","analysis":"/api/acts/superannuation-productivity-benefit-declaration-no-7/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-declaration-no-7/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-declaration-no-7/important-cases","documents":"/api/acts/superannuation-productivity-benefit-declaration-no-7/documents"}}