Public Sector Superannuation Reform Regulations 2017
141Leaving service
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141 Leaving service
(1) Subject to subregulation (2) , a member who leaves service in circumstances other than those specified in regulation 136(1) , regulation 138 or regulation 139 is entitled to a benefit equal to the amount calculated using the following formula:
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where –
accrued retirement multiple means the amount as set out in regulation 136(1) ;
factor means the factor determined in accordance with the table to this subregulation, with completed months counted pro rata.
| Column 1 – Age of member | Column 2 – Factor | | 50 or more | 1 | | 49 | 0.980 | | 48 | 0.961 | | 47 | 0.942 | | 46 | 0.924 | | 45 | 0.906 | | 44 | 0.888 | | 43 | 0.871 | | 42 | 0.853 | | 41 | 0.837 | | 40 | 0.820 | | 39 | 0.804 | | 38 | 0.788 | | 37 | 0.773 | | 36 | 0.758 | | 35 or less | 0.750 |
(2) If the member is leaving service as a result of retrenchment, the member is entitled to a benefit under regulation 136(1) .