Judges’ Pensions Order 2013

Link to law: https://www.comlaw.gov.au/Details/F2013L00458

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Judges’ Pensions Order 2013
I, Penelope Ying Yen Wong, Minister for Finance and Deregulation, make the following order under the Judges’ Pensions Act 1968.
Dated:  12 March 2013
Penelope Ying Yen Wong
Minister for Finance and Deregulation
 
  
  
  
Contents
Part 1—Preliminary                                                                                                                                        1
1............ Name of order............................................................................................................... 1
2............ Commencement............................................................................................................. 1
3............ Authority....................................................................................................................... 1
4............ Definitions..................................................................................................................... 1
Part 2—Scheme value and pension rates                                                                                           2
5............ Scheme value—member spouse with no surcharge debt............................................... 2
6............ Scheme value—member spouse with surcharge debt.................................................... 2
7............ Associate immediate pension for non‑member spouse.................................................. 2
8............ Associate deferred pension............................................................................................ 3
9............ Associate deferred pension—death of non‑member spouse.......................................... 6
10.......... Operative time during growth phase—reduction of associate deferred pension............ 6
11.......... Operative time during payment phase—reduction of standard pension......................... 9
Schedule 1—Methods and factors                                                                                        14
Part 1—Methods                                                                                                                                             14
Division 1.1—Interpretation                                                                                                             14
1............ Definitions................................................................................................................... 14
Division 1.2—Interests in the growth phase                                                                             15
2............ Methods and factors for interests of members in the scheme...................................... 15
Division 1.3—Interests in the payment phase                                                                          19
3............ Methods and factors for interests of members in the scheme...................................... 19
Division 1.4—Factors                                                                                                                           20
Part 2—Factors                                                                                                                                                38
 
Part 1—Preliminary
  
1  Name of order
                   This order is the Judges’ Pensions Order 2013.
2  Commencement
                   This order commences on 15 March 2013.
3  Authority
                   This order is made under the Judges’ Pensions Act 1968.
4  Definitions
                   In this order:
Act means the Judges’ Pensions Act 1968.
Federal Court Judge’s salary means the annual salary of a Judge of the Federal Court of Australia, other than the Chief Justice.
Table 1 means Table 1 of Part 2 of Schedule 1.
Table 2 means Table 2 of Part 2 of Schedule 1.
Table 3 means Table 3 of Part 2 of Schedule 1.
Treasury bond rate means:
                     (a)  if any Treasury bonds with a 10 year term were issued on the last working day of the financial year ending immediately before the period for which the increase is being calculated—the annual yield on those bonds; or
                     (b)  in any other case—the annual yield on Treasury bonds with a 10 year term, as published by the Reserve Bank of Australia for that day.
Note:          For the definitions of the following terms, see subsection 4(1) of the Act:
(a)    associate deferred pension;
(b)    associate immediate pension;
(c)    member spouse;
(d)    operative time;
(e)    original interest;
(f)    retirement pension;
(g)    standard pension;
(h)    transfer amount.
Part 2—Scheme value and pension rates
  
5  Scheme value—member spouse with no surcharge debt
             (1)  This section applies if the most recent member information statement provided to a member spouse before the operative time did not show a debit in the member spouse’s surcharge debt account.
             (2)  For the definition of scheme value in subsection 4(1) of the Act, the scheme value in relation to the member spouse is determined using the methods and factors set out in Schedule 1 as in force immediately before the operative time.
6  Scheme value—member spouse with surcharge debt
             (1)  This section applies if the most recent member information statement (the statement) provided to a member spouse before the operative time showed a debit in the member spouse’s surcharge debt account.
             (2)  For the definition of scheme value in subsection 4(1) of the Act, the scheme value in relation to the member spouse is determined using the methods and factors set out in Schedule 1 as in force immediately before the operative time.
             (3)  However, if:
                     (a)  it is necessary to calculate the scheme value for the purpose of the definition of transfer amount in subsection 4(1) of the Act; and
                     (b)  the operative time is on or after the day on which this subsection commences; and
                     (c)  the Secretary of the Department has received a splitting agreement or splitting order in respect of the original interest;
the scheme value is the value identified under subsection (2), reduced by the amount of the member spouse’s surcharge debt shown in the statement.
7  Associate immediate pension for non‑member spouse
                   For subsection 17AA(2) of the Act, the rate is calculated as follows:
Method statement
Step 1.   Identify the transfer amount that was payable at the operative time.
Step 2.   Calculate an amount using the formula:
              where:
              Fy is the number in Table 1 that applies to the non‑member spouse’s gender, and age in whole years, at the operative time.
              Fy+1is the number in Table 1 that would apply to the non‑member spouse if the non‑member spouse’s age in whole years was one year more than it was at the operative time.
              m is the number of whole months of the non‑member spouse’s age that are not included in the non‑member spouse’s age in whole years at the operative time.
Step 3.   Divide the transfer amount identified in step 1 by the amount calculated in step 2.
Step 4.   Divide the amount calculated in step 3 by the Federal Court Judge’s salary at the operative time.
              Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
Step 5.   Multiply the amount calculated in step 4 by the Federal Court Judge’s salary.
8  Associate deferred pension
                   For subsection 17AB(1) of the Act, the annual rate is calculated as follows:
Method statement
Step 1.   Identify the transfer amount that was payable at the operative time.
Step 2A. Add the amount identified in step 1 to the increases in the transfer amount calculated in steps 2B, 2C and 2D.
Step 2B. First period
              Identify the shorter of:
               (a)     the period between the operative time and the end of the financial year in which the operative time occurs; and
              (b)     the period between the operative time and when the associate deferred pension becomes payable.
              This is the first period.
              Calculate the increase in the transfer amount for the first period using the formula:
             
              where:
              amount is the amount identified in step 1.
              rate is the Treasury bond rate for the financial year in which the first period occurs.
              time is the number of days in the first period.
              Round the result to 2 decimal places (rounding up if the third decimal place is 5 or more).
Step 2C. Second period (if any)
              Use this step if one or more full financial years occurs immediately after the end of the first period and before the associate deferred pension becomes payable.
              This is the second period.
              Calculate the increase in the transfer amount for each full financial year of the second period using the formula:
             
              where:
              increased amount is the amount identified in step 1, added to:
               (a)     the increase in the transfer amount calculated in step 2B; and
              (b)     any increases in the transfer amount calculated under this step for earlier financial years in the second period.
              rate is the Treasury bond rate for the financial year for which the calculation is being made.
              Round the amount to 2 decimal places (rounding up if the third decimal place is 5 or more).
Step 2D. Final period (if any)
              Use this step if:
               (a)     there is any period between the end of a financial year and when the associate deferred pension becomes payable; and
              (b)     neither step 2B nor step 2C covers that period.
              This is the final period.
              Calculate the increase in the transfer amount for the final period using the formula:
             
              where:
              increased amount is the amount identified in step 1, added to:
               (a)     the increase in the transfer amount calculated in step 2B; and
              (b)     the increases in the transfer amount calculated in step 2C for each financial year in the second period.
              rate is the Treasury bond rate for the financial year in which the final period occurs.
              time is the number of days in the final period.
              Round the result to 2 decimal places (rounding up if the third decimal place is 5 or more).
Step 3.   Calculate an amount using the formula:
              where:
              Fy is the number in Table 1 that applies to the non‑member spouse’s gender, and age in whole years, when the associate deferred pension becomes payable.
              Fy+1is the number in Table 1 that would apply to the non‑member spouse if the non‑member spouse’s age in whole years was one year more than it was when the associate deferred pension becomes payable.
              m is the number of whole months of the non‑member spouse’s age that are not included in the non‑member spouse’s age in whole years when the associate deferred pension becomes payable.
Step 4.   Divide the amount calculated in step 2A by the amount calculated in step 3.
Step 5.   Divide the amount calculated in step 4 by the Federal Court Judge’s salary when the associate deferred pension becomes payable.
              Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
Step 6.   Multiply the amount calculated in step 5 by the Federal Court Judge’s salary
9  Associate deferred pension—death of non‑member spouse
             (1)  This section is made for subsection 17AB(6) of the Act.
             (2)  The amount payable is the transfer amount that was payable at the date of death:
                     (a)  reduced by any payment split before the date of death; and
                     (b)  increased in the way described in step 2A in section 8 as if an associate deferred pension had become payable at the date of death.
10  Operative time during growth phase—reduction of associate deferred pension
                   For section 17AG of the Act, the annual rate of the associate deferred pension (when it becomes payable) is reduced to the amount calculated as follows:
Method statement
Step 1.   Identify the transfer amount that was payable at the operative time.
Step 2A. Add the amount identified in step 1 to the increases in the transfer amount calculated in steps 2B, 2C and 2D.
Step 2B. First period
              Identify the shorter of:
               (a)     the period between the operative time and the end of the financial year in which the operative time occurs; and
              (b)     the period between the operative time and when the associate deferred pension becomes payable.
              This is the first period.
              Calculate the increase in the transfer amount for the first period using the formula:
             
              where:
              amount is the amount identified in step 1.
              rate is the Treasury bond rate for the financial year in which the first period occurs.
              time is the number of days in the first period.
              Round the result to 2 decimal places (rounding up if the third decimal place is 5 or more).
Step 2C. Second period (if any)
              Use this step if one or more full financial years occurs immediately after the end of the first period and before the associate deferred pension becomes payable.
              This is the second period.
              Calculate the increase in the transfer amount for each full financial year of the second period using the formula:
             
              where:
              increased amount is the amount identified in step 1, added to:
               (a)     the increase in the transfer amount calculated in step 2B; and
              (b)     any increases in the transfer amount calculated under this step for earlier financial years in the second period.
              rate is the Treasury bond rate for the financial year for which the calculation is being made.
              Round the amount to 2 decimal places (rounding up if the third decimal place is 5 or more).
Step 2D. Final period (if any)
              Use this step if:
               (a)     there is any period between the end of a financial year and when the associate deferred pension becomes payable; and
              (b)     neither step 2B nor step 2C covers that period.
              This is the final period.
              Calculate the increase in the transfer amount for the final period using the formula:
             
              where:
              increased amount is the amount identified in step 1, added to:
               (a)     the increase in the transfer amount calculated in step 2B; and
              (b)     the increases in the transfer amount calculated in step 2C for each financial year in the second period.
              rate is the Treasury bond rate for the financial year in which the final period occurs.
              time is the number of days in the final period.
              Round the result to 2 decimal places (rounding up if the third decimal place is 5 or more).
Step 3.   Identify the associate deferred pension, as calculated under subsection 17AB(1) of the Act on the date of payment, disregarding the payment split.
Step 4.   Calculate an amount using the formula:
              where:
              Fy is the number in Table 1 that applies to the member spouse’s gender, and age in whole years, when the associate deferred pension becomes payable.
              m is the number of whole months of the member spouse’s age that are not included in the member spouse’s age in whole years when the associate deferred pension becomes payable.
              Fy+1is the number in Table 1 that would apply to the member spouse if the member spouse’s age in whole years was one year more than it is when the associate deferred pension becomes payable.
Step 5.   Multiply the amount identified in step 3 by the amount calculated in step 4 (ensuring the amount identified in step 3 takes account of any previous payment split).
Step 6.   Reduce the amount calculated in step 5 by the amount calculated in step 2A.
Step 7.   Divide the amount calculated in step 6 by the amount calculated in step 4.
Step 8.   Divide the amount calculated in step 7 by the Federal Court Judge’s salary when the associate deferred pension becomes payable.
              Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
Step 9.   Multiply the amount calculated in step 8 by the Federal Court Judge’s salary.
11  Operative time during payment phase—reduction of standard pension
             (1)  For subsection 17AH(2) of the Act, the annual rate of a standard pension is reduced to the amount calculated as follows:
Method statement
Step 1.   Identify the annual rate of the associate immediate pension or immediate transitional pension that was payable at the operative time.
Step 2.   Calculate an amount using the formula:
              where:
              Fy is the number in Table 1 that applies to the member spouse’s gender, and age in whole years, at the operative time.
              Fy+1is the number in Table 1 that would apply to the member spouse if the member spouse’s age in whole years was one year more than it was at the operative time.
              m is the number of whole months of the member spouse’s age that are not included in the member spouse’s age in whole years at the operative time.
Step 3.   Multiply the amount identified in step 1 by the amount calculated in step 2.
Step 4.   Subtract the transfer amount from the amount calculated in step 3.
Step 5.   Divide the amount calculated in step 4 by the amount calculated in step 2.
Step 6.   Divide the amount calculated in step 5 by the Federal Court Judge’s salary at the operative time.
              Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
Step 7.   Multiply the amount calculated in step 6 by the Federal Court Judge’s salary.
             (2)  For subsection 17AH(2) of the Act, the annual rate of an associate deferred pension is reduced to the amount calculated as follows:
Method statement
Step 1.   Identify the annual rate of the associate deferred pension that was payable at the operative time.
Step 2.   Calculate an amount using the formula:
              where:
              Fy is the number in Table 1 that applies to the member spouse’s gender, and age in whole years, at the operative time.
              Fy+1is the number in Table 1 that would apply to the member spouse if the member spouse’s age in whole years was one year more than it was at the operative time.
              m is the number of whole months of the member spouse’s age that are not included in the member spouse’s age in whole years at the operative time.
Step 3.   Multiply the amount identified in step 1 by the amount calculated in step 2.
Step 4.   Subtract the transfer amount from the amount calculated in step 3.
Step 5.   Divide the amount calculated in step 4 by the amount calculated in step 2.
Step 6.   Divide the amount calculated in step 5 by the Federal Court Judge’s salary at the operative time.
              Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
Step 7.   Multiply the amount calculated in step 6 by the Federal Court Judge’s salary.
             (3)  For subsection 17AH(3) of the Act, the annual rate of a retirement pension is reduced to the amount calculated as follows:
Method statement
Step 1.   Identify the annual rate of the retirement pension that was payable at the operative time.
Step 2.   Calculate an amount using the formula:
              where:
              Fy is:
               (a)     if the pension is not payable on permanent incapacity—the number in Table 2 that applies to the member spouse’s gender, and age in whole years, at the operative time; and
              (b)     if the pension is payable on permanent incapacity—the number in Table 3 that applies to the member spouse’s gender, and age in whole years, at the operative time.
              Fy+1is:
               (a)     if the pension is not payable on permanent incapacity—the number in Table 2 that would apply to the member spouse if the member spouse’s age in whole years was one year more than it was at the operative time; and
              (b)     if the pension is payable on permanent incapacity—the number in Table 3 that would apply to the member spouse if the member spouse’s age in whole years was one year more than it was at the operative time.
              m is the number of whole months of the member spouse’s age that are not included in the member spouse’s age in whole years at the operative time.
Step 3.   Multiply the amount identified in step 1 by the amount calculated in step 2.
Step 4.   Subtract the transfer amount from the amount calculated in step 3.
Step 5.   Divide the amount calculated in step 4 by the amount calculated in step 2.
Step 6.   Divide the amount calculated in step 5 by the annual rate of the applicable judicial salary at the operative time.
              Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
Step 7.   Multiply the amount calculated in step 6 by the applicable judicial salary.
             (4)  For subsection 17AH(2) of the Act, the annual rate of a spouse pension is reduced to the amount calculated as follows:
Method statement
Step 1.   Identify the annual rate of the spouse pension that was payable at the operative time.
Step 2.   Calculate an amount using the formula:
              where:
              Fy is the number in Table 1 that applies to the member spouse’s gender, and age in whole years, at the operative time.
              Fy+1is the number in Table 1 that would apply to the member spouse if the member spouse’s age in whole years was one year more than it was at the operative time.
              m is the number of whole months of the member spouse’s age that are not included in the member spouse’s age in whole years at the operative time.
Step 3.   Multiply the amount identified in step 1 by the amount calculated in step 2.
Step 4.   Subtract the transfer amount from the amount calculated in step 3.
Step 5.   Divide the amount calculated in step 4 by the amount calculated in step 2.
Step 6.   Divide the amount calculated in step 5 by the annual rate of the applicable judicial salary at the operative time.
              Round the result to 4 decimal places (rounding up if the fifth decimal place is 5 or more).
Step 7.   Multiply the amount calculated in step 6 by the applicable judicial salary.
Schedule 1—Methods and factors
Note:       See sections 5 and 6.
Part 1—Methods
Division 1.1—Interpretation
1  Definitions
                   In this Part:
scheme means the scheme constituted by the Act.
Division 1.2—Interests in the growth phase
2  Methods and factors for interests of members in the scheme
                   For an interest that is in the growth phase in the scheme mentioned in an item in the following table, the method or factor mentioned in the item is approved for sections 5 and 6.
 
Item
Interest in the growth phase
Method or factor

1
An interest that a person has in the scheme, being a person who:
(a) is a Judge; and
(b) is to cease to hold office as a Judge when he or she reaches a particular age; and
(c) will, by the time he or she reaches that age, have served as a Judge for at least 6 years.
(a) The approved method is:
      where:
      APF has the same meaning as in the Act.
      F has the meaning given by paragraph (b).
      LS is the benefit that would have been payable under section 12A of the Act, after taking into account any reduction under section 17AF, if the person had died on the relevant date and no spouse or orphan pension had been payable.
      LSF has the meaning given by paragraph (c).
      RAPF is the component (APF × Transfer factor) in the formula in subsection 17AD(5) of the Act, as modified under section 17AE of that Act if applicable.
      S is the annual salary payable to the person as a Judge at the relevant date.
(b) For paragraph (a), F is determined in accordance with the following formula:
     
      where:
      Fy,a is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that applies to the person having regard to the person’s gender, compulsory retirement age, age in completed years at the relevant date and the age in completed years at which the person can first retire with a pension.
      Fy+1,a is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
      Fy,a+1 is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that would apply if the age in completed years at which the person can first retire with a pension were 1 year more than it is.
      Fy+1,a+1 is the valuation factor mentioned in whichever of Tables 1A to 1D is applicable that would apply if, at the relevant date, both the person’s age in completed years and the age in completed years at which the person can first retire were 1 year more than they are.
      m is the number of complete months of the person’s age, at the relevant date, that are not included in the completed years of age.
      ma is the number of complete months of the age at which the person can first retire with a pension that are not included in the age in completed years.
(c) For paragraph (a), LSF is determined in accordance with the following formula:
     
where:
      LSFy,a is the lump sum valuation factor mentioned in whichever of Tables 2A to 2D is applicable that applies to the person having regard to the person’s gender, compulsory retirement age, age in completed years at the relevant date and the age in completed years at which the person can first retire with a pension.
      LSFy+1,a is the lump sum valuation factor mentioned in whichever of Tables 2A to 2D is applicable that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
      LSFy,a+1 is the lump sum valuation factor mentioned in whichever of Tables 2A to 2D is applicable that would apply if the age in completed years at which the person can first retire with a pension were 1 year more than it is.
      LSFy+1,a+1 is the lump sum valuation factor mentioned in whichever of Tables 2A to 2D is applicable that would apply if, at the relevant date, both the person’s age in completed years and the age in completed years at which the person can first retire were 1 year more than they are.
      m is the number of complete months of the person’s age, at the relevant date, that are not included in the completed years of age.
      ma is the number of complete months of the age at which the person can first retire with a pension that are not included in the age in completed years.

2
An interest that a person has in the scheme, being a person who:
(a) is a Judge; and
(b) is to cease to hold office as a Judge upon his or her attaining a particular age; and
(c) will, by the time he or she attains that age, have served as a Judge for less than 6 years.
The benefit that would have been payable under section 12A of the Act, after taking into account any reduction under section 17AF, if the person had died on the relevant date and no spouse or orphan pension had been payable.
 

3
An interest that a person has in the scheme, being a person who:
(a) is a Judge; and
(b) is not to cease to hold office as a Judge upon his or her attaining a particular age.

where:
HP is the annual rate of pension that would be payable to the person if the person retired on the relevant date.
m is the number of complete months of the person’s age, at the relevant date, that are not included in the completed years of age.
PFy is the pension valuation factor mentioned in Table 3 in relation to an age pension for the person’s gender and age in completed years at the relevant date.
PFy+1 is the pension valuation factor mentioned in Table 3 in relation to an age pension that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.

4
An interest that a person has as a result of an entitlement to an associate deferred pension (not yet payable) in accordance with section 17AB of the Act.

where:
ATA is the amount calculated under step 2A of section 8 of the Judges’ Pensions Order 2013, but with the reference to the time when the associate deferred pension becomes payable taken to be a reference to the relevant date.
m is the number of complete months of the person’s age, at the relevant date, that are not included in the completed years of age.
PFy is the pension valuation factor mentioned in Table 3 in relation to a spouse pension for the person’s gender and age in completed years at the relevant date.
PFy+1 is the pension valuation factor mentioned in Table 3 in relation to a spouse pension that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.
SVPFy is the scheme value pension factor mentioned in Table 4 for the person’s gender and age in completed years at the relevant date.
SVPFy+1 is the scheme value pension factor mentioned in Table 4 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.

 
Division 1.3—Interests in the payment phase
3  Methods and factors for interests of members in the scheme
                   For an interest that is in the payment phase in the scheme mentioned in an item in the following table, the method or factor mentioned in the item is approved for sections 5 and 6.
 
Item
Interest in the payment phase
Method or factor

1
An interest that a person has in the scheme as a result of being paid a pension under the Act.

where:
AP is the annual rate of pension payable to the person at the relevant date.
m is the number of complete months of the person’s age, at the relevant date, that are not included in the completed years of age.
PFy is the pension valuation factor mentioned in Table 3 for the person’s pension type, gender and age in completed years at the relevant date.
PFy+1 is the pension valuation factor mentioned in Table 3 that would apply if the person’s age in completed years at the relevant date were 1 year more than it is.

Division 1.4—Factors
Table 1A  Valuation factors for serving judges (F)—males with compulsory retiring age of 65
Age at which eligible to retire with pension

Age
60
61
62
63
64
65

30 or younger
12.0745
 
 
 
 
 

31
12.2701
 
 
 
 
 

32
12.4683
 
 
 
 
 

33
12.6692
 
 
 
 
 

34
12.8723
 
 
 
 
 

35
13.0777
 
 
 
 
 

36
13.2853
 
 
 
 
 

37
13.4953
 
 
 
 
 

38
13.7075
 
 
 
 
 

39
13.9231
 
 
 
 
 

40
14.1421
 
 
 
 
 

41
14.3070
 
 
 
 
 

42
14.4731
 
 
 
 
 

43
14.6407
 
 
 
 
 

44
14.8090
 
 
 
 
 

45
14.9781
 
 
 
 
 

46
15.1480
 
 
 
 
 

47
15.3192
 
 
 
 
 

48
15.4919
 
 
 
 
 

49
15.6662
 
 
 
 
 

50
15.8426
15.4126
 
 
 
 

51
15.8848
15.4457
15.2070
 
 
 

52
15.9252
15.4768
15.2330
15.0481
 
 

53
15.9639
15.5059
15.2569
15.0680
14.9433
 

54
16.0015
15.5337
15.2793
15.0863
14.9589
14.9015

55
16.0384
15.5604
15.3005
15.1034
14.9731
14.9144

56
16.2950
15.8066
15.5410
15.3396
15.2065
15.1465

57
16.5577
16.0583
15.7869
15.5809
15.4449
15.3835

58
16.8266
16.3156
16.0378
15.8271
15.6878
15.6250

59
17.1037
16.5802
16.2957
16.0799
15.9373
15.8730

60
17.3907
16.8542
16.5626
16.3414
16.1953
16.1293

61
17.1390
17.1390
16.8401
16.6133
16.4634
16.3958

62
17.1291
17.1291
17.1291
16.8965
16.7427
16.6733

63
17.1920
17.1920
17.1920
17.1920
17.0342
16.9629

64
17.3387
17.3387
17.3387
17.3387
17.3387
17.2655

65
17.5819
17.5819
17.5819
17.5819
17.5819
17.5819

 
Table 1B  Valuation factors for serving judges (F)—females with compulsory retiring age of 65
Age at which eligible to retire with pension

Age
60
61
62
63
64
65

30 or younger
12.1306
 
 
 
 
 

31
12.3300
 
 
 
 
 

32
12.5316
 
 
 
 
 

33
12.7355
 
 
 
 
 

34
12.9416
 
 
 
 
 

35
13.1504
 
 
 
 
 

36
13.3616
 
 
 
 
 

37
13.5755
 
 
 
 
 

38
13.7923
 
 
 
 
 

39
14.0115
 
 
 
 
 

40
14.2332
 
 
 
 
 

41
14.4186
 
 
 
 
 

42
14.6053
 
 
 
 
 

43
14.7933
 
 
 
 
 

44
14.9834
 
 
 
 
 

45
15.1757
 
 
 
 
 

46
15.3704
 
 
 
 
 

47
15.5679
 
 
 
 
 

48
15.7685
 
 
 
 
 

49
15.9716
 
 
 
 
 

50
16.1775
15.7446
 
 
 
 

51
16.3864
15.9442
15.7035
 
 
 

52
16.5991
16.1473
15.9015
15.7147
 
 

53
16.8157
16.3541
16.1029
15.9121
15.7862
 

54
17.0372
16.5653
16.3085
16.1135
15.9847
15.9273

55
17.2645
16.7819
16.5192
16.3197
16.1880
16.1293

56
17.5452
17.0514
16.7826
16.5785
16.4438
16.3836

57
17.8353
17.3297
17.0545
16.8455
16.7076
16.6460

58
18.1362
17.6181
17.3361
17.1220
16.9807
16.9175

59
18.4475
17.9163
17.6273
17.4078
17.2629
17.1981

60
18.7701
18.2253
17.9289
17.7038
17.5551
17.4887

61
18.5459
18.5459
18.2417
18.0107
17.8582
17.7899

62
18.5678
18.5678
18.5678
18.3307
18.1741
18.1040

63
18.6649
18.6649
18.6649
18.6649
18.5040
18.4320

64
18.8495
18.8495
18.8495
18.8495
18.8495
18.7755

65
19.1362
19.1362
19.1362
19.1362
19.1362
19.1362

Table 1C  Valuation factors for serving judges (F)—males with compulsory retiring age of 70
Age at which eligible to retire with pension

Age
60
61
62
63
64
65
66
67
68
69
70

30 or younger
11.3046
 
 
 
 
 
 
 
 
 
 

31
11.4860
 
 
 
 
 
 
 
 
 
 

32
11.6698
 
 
 
 
 
 
 
 
 
 

33
11.8559
 
 
 
 
 
 
 
 
 
 

34
12.0440
 
 
 
 
 
 
 
 
 
 

35
12.2339
 
 
 
 
 
 
 
 
 
 

36
12.4258
 
 
 
 
 
 
 
 
 
 

37
12.6197
 
 
 
 
 
 
 
 
 
 

38
12.8154
 
 
 
 
 
 
 
 
 
 

39
13.0142
 
 
 
 
 
 
 
 
 
 

40
13.2161
 
 
 
 
 
 
 
 
 
 

41
13.3634
 
 
 
 
 
 
 
 
 
 

42
13.5117
 
 
 
 
 
 
 
 
 
 

43
13.6611
 
 
 
 
 
 
 
 
 
 

44
13.8108
 
 
 
 
 
 
 
 
 
 

45
13.9607
 
 
 
 
 
 
 
 
 
 

46
14.1110
 
 
 
 
 
 
 
 
 
 

47
14.2623
 
 
 
 
 
 
 
 
 
 

48
14.4144
 
 
 
 
 
 
 
 
 
 

49
14.5677
 
 
 
 
 
 
 
 
 
 

50
14.7224
14.0948
 
 
 
 
 
 
 
 
 

51
14.7429
14.1023
13.7144
 
 
 
 
 
 
 
 

52
14.7611
14.1073
13.7114
13.3574
 
 
 
 
 
 
 

53
14.7771
14.1097
13.7056
13.3443
13.0280
 
 
 
 
 
 

54
14.7915
14.1101
13.6976
13.3288
13.0061
12.7318
 
 
 
 
 

55
14.8045
14.1087
13.6876
13.3112
12.9818
12.7019
12.3400
 
 
 
 

56
15.0353
14.3245
13.8943
13.5098
13.1734
12.8876
12.5180
12.2138
 
 
 

57
15.2709
14.5443
14.1047
13.7118
13.3681
13.0760
12.6984
12.3876
12.1507
 
 

58
15.5109
14.7677
14.3179
13.9161
13.5645
13.2658
12.8797
12.5619
12.3197
12.0959
 

59
15.7572
14.9961
14.5357
14.1242
13.7644
13.4586
13.0634
12.7381
12.4902
12.2612
12.1522

60
16.0119
15.2321
14.7603
14.3389
13.9702
13.6570
13.2523
12.9192
12.6653
12.4308
12.3191

61
15.4773
15.4773
14.9937
14.5617
14.1839
13.8630
13.4483
13.1070
12.8469
12.6066
12.4921

62
15.2367
15.2367
15.2367
14.7938
14.4064
14.0774
13.6523
13.3025
13.0359
12.7896
12.6722

63
15.0359
15.0359
15.0359
15.0359
14.6386
14.3011
13.8652
13.5064
13.2330
12.9804
12.8600

64
14.8814
14.8814
14.8814
14.8814
14.8814
14.5352
14.0880
13.7199
13.4395
13.1804
13.0568

65
14.7806
14.7806
14.7806
14.7806
14.7806
14.7806
14.3216
13.9440
13.6562
13.3904
13.2636

66
14.5670
14.5670
14.5670
14.5670
14.5670
14.5670
14.5670
14.1793
13.8840
13.6111
13.4809

67
14.4268
14.4268
14.4268
14.4268
14.4268
14.4268
14.4268
14.4268
14.1235
13.8434
13.7097

68
14.3757
14.3757
14.3757
14.3757
14.3757
14.3757
14.3757
14.3757
14.3757
14.0880
13.9506

69
14.3457
14.3457
14.3457
14.3457
14.3457
14.3457
14.3457
14.3457
14.3457
14.3457
14.2045

70
14.4723
14.4723
14.4723
14.4723
14.4723
14.4723
14.4723
14.4723
14.4723
14.4723
14.4723

Table 1D  Valuation factors for serving judges (F)—females with compulsory retiring age of 70
Age at which eligible to retire with pension

Age
60
61
62
63
64
65
66
67
68
69
70

30 or younger
11.3407
 
 
 
 
 
 
 
 
 
 

31
11.5256
 
 
 
 
 
 
 
 
 
 

32
11.7124
 
 
 
 
 
 
 
 
 
 

33
11.9012
 
 
 
 
 
 
 
 
 
 

34
12.0919
 
 
 
 
 
 
 
 
 
 

35
12.2849
 
 
 
 
 
 
 
 
 
 

36
12.4801
 
 
 
 
 
 
 
 
 
 

37
12.6776
 
 
 
 
 
 
 
 
 
 

38
12.8777
 
 
 
 
 
 
 
 
 
 

39
13.0797
 
 
 
 
 
 
 
 
 
 

40
13.2838
 
 
 
 
 
 
 
 
 
 

41
13.4508
 
 
 
 
 
 
 
 
 
 

42
13.6186
 
 
 
 
 
 
 
 
 
 

43
13.7872
 
 
 
 
 
 
 
 
 
 

44
13.9574
 
 
 
 
 
 
 
 
 
 

45
14.1295
 
 
 
 
 
 
 
 
 
 

46
14.3033
 
 
 
 
 
 
 
 
 
 

47
14.4794
 
 
 
 
 
 
 
 
 
 

48
14.6581
 
 
 
 
 
 
 
 
 
 

49
14.8386
 
 
 
 
 
 
 
 
 
 

50
15.0212
14.3842
 
 
 
 
 
 
 
 
 

51
15.2062
14.5557
14.1607
 
 
 
 
 
 
 
 

52
15.3941
14.7298
14.3264
13.9647
 
 
 
 
 
 
 

53
15.5853
14.9066
14.4945
14.1251
13.8006
 
 
 
 
 
 

54
15.7803
15.0866
14.6655
14.2879
13.9563
13.6735
 
 
 
 
 

55
15.9799
15.2706
14.8400
14.4539
14.1150
13.8259
13.4509
 
 
 
 

56
16.2318
15.5062
15.0658
14.6709
14.3242
14.0286
13.6452
13.3287
 
 
 

57
16.4916
15.7489
15.2981
14.8940
14.5392
14.2366
13.8443
13.5204
13.2731
 
 

58
16.7605
15.9996
15.5378
15.1239
14.7605
14.4507
14.0490
13.7173
13.4640
13.2299
 

59
17.0383
16.2585
15.7852
15.3611
14.9887
14.6713
14.2597
13.9199
13.6604
13.4206
13.3076

60
17.3259
16.5264
16.0411
15.6063
15.2246
14.8991
14.4773
14.1290
13.8630
13.6172
13.5013

61
16.8040
16.8040
16.3063
15.8602
15.4688
15.1350
14.7024
14.3454
14.0726
13.8206
13.7017

62
16.5826
16.5826
16.5826
16.1249
15.7232
15.3808
14.9370
14.5707
14.2909
14.0323
13.9103

63
16.4013
16.4013
16.4013
16.4013
15.9890
15.6375
15.1820
14.8060
14.5189
14.2535
14.1282

64
16.2669
16.2669
16.2669
16.2669
16.2669
15.9059
15.4381
15.0520
14.7571
14.4845
14.3558

65
16.1877
16.1877
16.1877
16.1877
16.1877
16.1877
15.7069
15.3101
15.0071
14.7269
14.5946

66
15.9904
15.9904
15.9904
15.9904
15.9904
15.9904
15.9904
15.5824
15.2708
14.9827
14.8465

67
15.8704
15.8704
15.8704
15.8704
15.8704
15.8704
15.8704
15.8704
15.5497
15.2532
15.1130

68
15.8462
15.8462
15.8462
15.8462
15.8462
15.8462
15.8462
15.8462
15.8462
15.5407
15.3962

69
15.8468
15.8468
15.8468
15.8468
15.8468
15.8468
15.8468
15.8468
15.8468
15.8468
15.6978

70
16.0201
16.0201
16.0201
16.0201
16.0201
16.0201
16.0201
16.0201
16.0201
16.0201
16.0201

Table 2A  Lump sum valuation factors for serving judges (LSF)—males with compulsory retiring age of 65
Age at which eligible to retire with pension

Age
60
61
62
63
64
65

30 or younger
0.0126
 
 
 
 
 

31
0.0125
 
 
 
 
 

32
0.0124
 
 
 
 
 

33
0.0122
 
 
 
 
 

34
0.0121
 
 
 
 
 

35
0.0120
 
 
 
 
 

36
0.0118
 
 
 
 
 

37
0.0117
 
 
 
 
 

38
0.0115
 
 
 
 
 

39
0.0113
 
 
 
 
 

40
0.0112
 
 
 
 
 

41
0.0115
 
 
 
 
 

42
0.0118
 
 
 
 
 

43
0.0121
 
 
 
 
 

44
0.0124
 
 
 
 
 

45
0.0126
 
 
 
 
 

46
0.0128
 
 
 
 
 

47
0.0129
 
 
 
 
 

48
0.0130
 
 
 
 
 

49
0.0130
 
 
 
 
 

50
0.0129
0.0137
 
 
 
 

51
0.0136
0.0144
0.0149
 
 
 

52
0.0141
0.0151
0.0156
0.0160
 
 

53
0.0145
0.0155
0.0161
0.0165
0.0168
 

54
0.0147
0.0157
0.0163
0.0168
0.0171
0.0172

55
0.0146
0.0158
0.0164
0.0169
0.0173
0.0174

56
0.0134
0.0146
0.0152
0.0158
0.0161
0.0162

57
0.0122
0.0133
0.0140
0.0145
0.0148
0.0149

58
0.0108
0.0120
0.0126
0.0131
0.0135
0.0136

59
0.0093
0.0105
0.0112
0.0117
0.0120
0.0121

60
0.0077
0.0089
0.0095
0.0101
0.0104
0.0105

61
0.0071
0.0071
0.0078
0.0083
0.0087
0.0088

62
0.0059
0.0059
0.0059
0.0064
0.0067
0.0069

63
0.0043
0.0043
0.0043
0.0043
0.0047
0.0048

64
0.0024
0.0024
0.0024
0.0024
0.0024
0.0025

65
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000

Table 2B  Lump sum valuation factors for serving judges (LSF)—females with compulsory retiring age of 65
Age at which eligible to retire with pension

Age
60
61
62
63
64
65

30 or younger
0.0123
 
 
 
 
 

31
0.0123
 
 
 
 
 

32
0.0122
 
 
 
 
 

33
0.0121
 
 
 
 
 

34
0.0120
 
 
 
 
 

35
0.0119
 
 
 
 
 

36
0.0118
 
 
 
 
 

37
0.0117
 
 
 
 
 

38
0.0116
 
 
 
 
 

39
0.0115
 
 
 
 
 

40
0.0114
 
 
 
 
 

41
0.0119
 
 
 
 
 

42
0.0125
 
 
 
 
 

43
0.0130
 
 
 
 
 

44
0.0134
 
 
 
 
 

45
0.0138
 
 
 
 
 

46
0.0142
 
 
 
 
 

47
0.0145
 
 
 
 
 

48
0.0147
 
 
 
 
 

49
0.0149
 
 
 
 
 

50
0.0150
0.0159
 
 
 
 

51
0.0150
0.0160
0.0165
 
 
 

52
0.0150
0.0160
0.0166
0.0170
 
 

53
0.0149
0.0159
0.0165
0.0170
0.0173
 

54
0.0146
0.0157
0.0163
0.0168
0.0171
0.0172

55
0.0142
0.0153
0.0160
0.0165
0.0168
0.0169

56
0.0132
0.0143
0.0150
0.0155
0.0158
0.0159

57
0.0120
0.0132
0.0138
0.0143
0.0146
0.0148

58
0.0106
0.0118
0.0124
0.0129
0.0133
0.0134

59
0.0091
0.0103
0.0109
0.0115
0.0118
0.0119

60
0.0075
0.0087
0.0094
0.0099
0.0102
0.0103

61
0.0070
0.0070
0.0077
0.0082
0.0085
0.0086

62
0.0058
0.0058
0.0058
0.0063
0.0067
0.0068

63
0.0043
0.0043
0.0043
0.0043
0.0046
0.0047

64
0.0024
0.0024
0.0024
0.0024
0.0024
0.0025

65
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000

Table 2C  Lump sum valuation factors for serving judges (LSF)—males with compulsory retiring age of 70
Age at which eligible to retire with pension

Age
60
61
62
63
64
65
66
67
68
69
70

30 or younger
0.0149
 
 
 
 
 
 
 
 
 
 

31
0.0147
 
 
 
 
 
 
 
 
 
 

32
0.0146
 
 
 
 
 
 
 
 
 
 

33
0.0145
 
 
 
 
 
 
 
 
 
 

34
0.0144
 
 
 
 
 
 
 
 
 
 

35
0.0142
 
 
 
 
 
 
 
 
 
 

36
0.0141
 
 
 
 
 
 
 
 
 
 

37
0.0139
 
 
 
 
 
 
 
 
 
 

38
0.0138
 
 
 
 
 
 
 
 
 
 

39
0.0136
 
 
 
 
 
 
 
 
 
 

40
0.0134
 
 
 
 
 
 
 
 
 
 

41
0.0139
 
 
 
 
 
 
 
 
 
 

42
0.0144
 
 
 
 
 
 
 
 
 
 

43
0.0148
 
 
 
 
 
 
 
 
 
 

44
0.0151
 
 
 
 
 
 
 
 
 
 

45
0.0155
 
 
 
 
 
 
 
 
 
 

46
0.0158
 
 
 
 
 
 
 
 
 
 

47
0.0160
 
 
 
 
 
 
 
 
 
 

48
0.0162
 
 
 
 
 
 
 
 
 
 

49
0.0163
 
 
 
 
 
 
 
 
 
 

50
0.0164
0.0178
 
 
 
 
 
 
 
 
 

51
0.0174
0.0190
0.0199
 
 
 
 
 
 
 
 

52
0.0183
0.0200
0.0211
0.0221
 
 
 
 
 
 
 

53
0.0191
0.0209
0.0220
0.0231
0.0241
 
 
 
 
 
 

54
0.0196
0.0215
0.0228
0.0240
0.0251
0.0261
 
 
 
 
 

55
0.0199
0.0220
0.0234
0.0246
0.0258
0.0269
0.0283
 
 
 
 

56
0.0188
0.0209
0.0222
0.0235
0.0247
0.0258
0.0272
0.0285
 
 
 

57
0.0175
0.0196
0.0210
0.0223
0.0235
0.0246
0.0260
0.0273
0.0283
 
 

58
0.0162
0.0183
0.0197
0.0210
0.0222
0.0233
0.0247
0.0260
0.0270
0.0279
 

59
0.0147
0.0169
0.0182
0.0196
0.0208
0.0219
0.0234
0.0246
0.0256
0.0266
0.0269

60
0.0131
0.0153
0.0167
0.0180
0.0192
0.0203
0.0218
0.0231
0.0241
0.0251
0.0254

61
0.0136
0.0136
0.0150
0.0163
0.0176
0.0187
0.0202
0.0215
0.0225
0.0234
0.0238

62
0.0131
0.0131
0.0131
0.0145
0.0157
0.0168
0.0184
0.0197
0.0207
0.0217
0.0220

63
0.0124
0.0124
0.0124
0.0124
0.0137
0.0148
0.0164
0.0177
0.0187
0.0197
0.0200

64
0.0115
0.0115
0.0115
0.0115
0.0115
0.0126
0.0142
0.0155
0.0166
0.0176
0.0179

65
0.0103
0.0103
0.0103
0.0103
0.0103
0.0103
0.0118
0.0132
0.0142
0.0152
0.0156

66
0.0092
0.0092
0.0092
0.0092
0.0092
0.0092
0.0092
0.0106
0.0117
0.0126
0.0130

67
0.0077
0.0077
0.0077
0.0077
0.0077
0.0077
0.0077
0.0077
0.0088
0.0098
0.0102

68
0.0057
0.0057
0.0057
0.0057
0.0057
0.0057
0.0057
0.0057
0.0057
0.0067
0.0071

69
0.0033
0.0033
0.0033
0.0033
0.0033
0.0033
0.0033
0.0033
0.0033
0.0033
0.0037

70
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000

Table 2D  Lump sum valuation factors for serving judges (LSF)—females with compulsory retiring age of 70
Age at which eligible to retire with pension

Age
60
61
62
63
64
65
66
67
68
69
70

30 or younger
0.0151
 
 
 
 
 
 
 
 
 
 

31
0.0151
 
 
 
 
 
 
 
 
 
 

32
0.0150
 
 
 
 
 
 
 
 
 
 

33
0.0149
 
 
 
 
 
 
 
 
 
 

34
0.0148
 
 
 
 
 
 
 
 
 
 

35
0.0147
 
 
 
 
 
 
 
 
 
 

36
0.0146
 
 
 
 
 
 
 
 
 
 

37
0.0145
 
 
 
 
 
 
 
 
 
 

38
0.0144
 
 
 
 
 
 
 
 
 
 

39
0.0143
 
 
 
 
 
 
 
 
 
 

40
0.0142
 
 
 
 
 
 
 
 
 
 

41
0.0149
 
 
 
 
 
 
 
 
 
 

42
0.0156
 
 
 
 
 
 
 
 
 
 

43
0.0163
 
 
 
 
 
 
 
 
 
 

44
0.0169
 
 
 
 
 
 
 
 
 
 

45
0.0175
 
 
 
 
 
 
 
 
 
 

46
0.0180
 
 
 
 
 
 
 
 
 
 

47
0.0185
 
 
 
 
 
 
 
 
 
 

48
0.0189
 
 
 
 
 
 
 
 
 
 

49
0.0193
 
 
 
 
 
 
 
 
 
 

50
0.0195
0.0213
 
 
 
 
 
 
 
 
 

51
0.0198
0.0216
0.0228
 
 
 
 
 
 
 
 

52
0.0199
0.0218
0.0230
0.0242
 
 
 
 
 
 
 

53
0.0200
0.0220
0.0233
0.0245
0.0256
 
 
 
 
 
 

54
0.0200
0.0220
0.0233
0.0246
0.0258
0.0268
 
 
 
 
 

55
0.0198
0.0219
0.0232
0.0245
0.0258
0.0269
0.0284
 
 
 
 

56
0.0188
0.0209
0.0223
0.0236
0.0248
0.0259
0.0275
0.0288
 
 
 

57
0.0176
0.0198
0.0211
0.0225
0.0237
0.0248
0.0264
0.0277
0.0288
 
 

58
0.0163
0.0184
0.0198
0.0212
0.0224
0.0235
0.0251
0.0265
0.0275
0.0285
 

59
0.0148
0.0170
0.0184
0.0197
0.0210
0.0221
0.0237
0.0251
0.0262
0.0272
0.0276

60
0.0133
0.0154
0.0169
0.0182
0.0195
0.0206
0.0222
0.0236
0.0247
0.0257
0.0261

61
0.0138
0.0138
0.0152
0.0166
0.0179
0.0190
0.0206
0.0220
0.0231
0.0242
0.0245

62
0.0134
0.0134
0.0134
0.0148
0.0161
0.0173
0.0189
0.0203
0.0214
0.0224
0.0228

63
0.0128
0.0128
0.0128
0.0128
0.0141
0.0153
0.0169
0.0184
0.0195
0.0205
0.0209

64
0.0120
0.0120
0.0120
0.0120
0.0120
0.0132
0.0148
0.0163
0.0174
0.0184
0.0188

65
0.0108
0.0108
0.0108
0.0108
0.0108
0.0108
0.0125
0.0139
0.0151
0.0161
0.0165

66
0.0098
0.0098
0.0098
0.0098
0.0098
0.0098
0.0098
0.0113
0.0125
0.0135
0.0139

67
0.0084
0.0084
0.0084
0.0084
0.0084
0.0084
0.0084
0.0084
0.0096
0.0107
0.0111

68
0.0063
0.0063
0.0063
0.0063
0.0063
0.0063
0.0063
0.0063
0.0063
0.0074
0.0078

69
0.0037
0.0037
0.0037
0.0037
0.0037
0.0037
0.0037
0.0037
0.0037
0.0037
0.0041

70
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000

 
Table 3  Pension valuation factors (PF)
 
Males
Females

Age
Age pension
Invalid pension
Spouse pension or associate pension
Age pension
Invalid pension
Spouse pension or associate pension

30 or younger
 
33.3852
33.2882
 
32.7477
35.2430

31
 
33.0479
32.9153
 
32.3932
34.8969

32
 
32.7038
32.5340
 
32.0328
34.5436

33
 
32.3528
32.1433
 
31.6661
34.1835

34
 
31.9950
31.7437
 
31.2930
33.8162

35
 
31.6304
31.3352
 
30.9130
33.4410

36
 
31.2589
30.9169
 
30.5265
33.0586

37
 
30.8805
30.4893
 
30.1331
32.6683

38
 
30.4951
30.0519
 
29.7329
32.2701

39
 
30.1025
29.6046
 
29.3257
31.8636

40
 
29.7029
29.1478
 
28.9117
31.4491

41
 
29.2035
28.6813
 
28.4127
31.0265

42
 
28.6950
28.2054
 
27.9059
30.5955

43
 
28.1772
27.7202
 
27.3918
30.1563

44
 
27.6500
27.2259
 
26.8695
29.7090

45
 
27.1131
26.7226
 
26.3391
29.2540

46
 
26.5671
26.2104
 
25.8007
28.7906

47
 
26.0118
25.6898
 
25.2543
28.3195

48
 
25.4474
25.1606
 
24.7001
27.8407

49
 
24.8739
24.6233
 
24.1396
27.3540

50
 
24.2913
24.0785
 
23.5727
26.8602

51
 
23.4958
23.5262
 
22.9999
26.3590

52
 
22.6882
22.9670
 
22.4215
25.8512

53
 
21.8689
22.4013
 
21.8378
25.3363

54
 
21.0390
21.8298
 
21.2498
24.8143

55
 
20.1993
21.2538
 
20.6581
24.2857

56
 
19.6682
20.6735
 
20.1463
23.7500

57
 
19.1324
20.0902
 
19.6313
23.2075

58
 
18.5923
19.5043
 
19.1137
22.6580

59
 
18.0503
18.9153
 
18.5931
22.1017

60
20.6553
17.5071
18.3239
22.0992
18.0691
21.5383

61
20.0494
16.9638
17.7307
21.5219
17.5422
20.9681

62
19.4383
16.4212
17.1358
20.9364
17.0127
20.3913

63
18.8222
15.8804
16.5395
20.3433
16.4815
19.8080

64
18.2031
15.3415
15.9459
19.7430
15.9498
19.2187

65
17.5819
14.8055
15.3558
19.1362
15.4184
18.6243

66
16.9592
14.2734
14.7700
18.5233
14.8886
18.0249

67
16.3356
13.7459
14.1892
17.9048
14.3613
17.4213

68
15.7121
13.2236
13.6142
17.2814
13.8378
16.8133

69
15.0907
12.7053
13.0476
16.6531
13.3161
16.2036

70
14.4723
12.1908
12.4902
16.0201
12.7974
15.5925

71
13.8504
11.6805
11.9427
15.3936
12.2822
14.9802

72
13.2320
11.1740
11.4062
14.7642
11.7708
14.3676

73
12.6175
10.6708
10.8808
14.1327
11.2588
13.7552

74
12.0080
10.1720
10.3605
13.4985
10.7513
13.1432

75
11.4045
9.6782
9.8457
12.8626
10.2497
12.5326

76
10.8094
9.1907
9.3377
12.2370
9.7561
11.9249

77
10.2254
8.7116
8.8379
11.6120
9.2726
11.3213

78
9.6547
8.2424
8.3475
10.9883
8.8015
10.7240

79
9.1002
7.7875
7.8727
10.3751
8.3410
10.1364

80
8.5633
7.3480
7.4143
9.7744
7.8913
9.5606

81
8.0448
6.9252
6.9723
9.1885
7.4222
8.9993

82
7.5458
6.5199
6.5466
8.6171
6.9665
8.4536

83
7.0669
6.1326
6.1375
8.0623
6.5241
7.9252

84
6.6140
5.7662
5.7514
7.5275
6.1001
7.4177

85
6.1881
5.4213
5.3885
7.0148
5.6960
6.9320

86
5.7715
5.0992
5.0493
6.5219
5.3148
6.4695

87
5.3849
4.8012
4.7341
6.0489
4.9598
6.0314

88
5.0283
4.5278
4.4413
5.5956
4.6350
5.6184

89
4.6985
4.2652
4.1659
5.1722
4.3345
5.2237

90
4.3956
4.0103
3.9062
4.7802
4.0579
4.8463

91
4.1201
3.7587
3.6601
4.4158
3.8029
4.4844

92
3.8591
3.5044
3.4257
4.0854
3.5659
4.1362

93
3.6098
3.2655
3.2000
3.7920
3.3406
3.7986

94
3.3716
3.0424
2.9781
3.5123
3.1229
3.4821

95
3.1418
2.8343
2.7716
3.2425
2.9064
3.1851

96
2.9164
2.6405
2.5795
2.9776
2.6842
2.9056

97
2.7000
2.4606
2.4010
2.7104
2.4469
2.6407

98
2.4825
2.2870
2.2283
2.4304
2.2073
2.3863

99
2.2571
2.1183
2.0594
2.1550
1.9795
2.1451

100
2.0173
1.9564
1.8961
1.8786
1.7638
1.9162

101
1.8378
1.7884
1.7244
1.6584
1.5600
1.6967

102
1.6442
1.6071
1.5371
1.4486
1.3688
1.4798

103
1.4140
1.3901
1.3112
1.2294
1.1719
1.2515

104
1.1014
1.0907
1.0000
0.9497
0.9197
0.9596

105 or older
0.6077
0.6076
0.4928
0.5002
0.5002
0.4928

Table 4  Scheme value pension factors (SVPF)
Age
Male
Female

30 or younger
33.2882
35.2430

31
32.9153
34.8969

32
32.5340
34.5436

33
32.1433
34.1835

34
31.7437
33.8162

35
31.3352
33.4410

36
30.9169
33.0586

37
30.4893
32.6683

38
30.0519
32.2701

39
29.6046
31.8636

40
29.1478
31.4491

41
28.6813
31.0265

42
28.2054
30.5955

43
27.7202
30.1563

44
27.2259
29.7090

45
26.7226
29.2540

46
26.2104
28.7906

47
25.6898
28.3195

48
25.1606
27.8407

49
24.6233
27.3540

50
24.0785
26.8602

51
23.5262
26.3590

52
22.9670
25.8512

53
22.4013
25.3363

54
21.8298
24.8143

55
21.2538
24.2857

56
20.6735
23.7500

57
20.0902
23.2075

58
19.5043
22.6580

59
18.9153
22.1017

60
18.3239
21.5383

61
17.7307
20.9681

62
17.1358
20.3913

63
16.5395
19.8080

64
15.9459
19.2187

65
15.3558
18.6243

66
14.7700
18.0249

67
14.1892
17.4213

68
13.6142
16.8133

69
13.0476
16.2036

70
12.4902
15.5925

71
11.9427
14.9802

72
11.4062
14.3676

73
10.8808
13.7552

74
10.3605
13.1432

75
9.8457
12.5326

76
9.3377
11.9249

77
8.8379
11.3213

78
8.3475
10.7240

79
7.8727
10.1364

80
7.4143
9.5606

81
6.9723
8.9993

82
6.5466
8.4536

83
6.1375
7.9252

84
5.7514
7.4177

85
5.3885
6.9320

86
5.0493
6.4695

87
4.7341
6.0314

88
4.4413
5.6184

89
4.1659
5.2237

90
3.9062
4.8463

91
3.6601
4.4844

92
3.4257
4.1362

93
3.2000
3.7986

94
2.9781
3.4821

95
2.7716
3.1851

96
2.5795
2.9056

97
2.4010
2.6407

98
2.2283
2.3863

99
2.0594
2.1451

100
1.8961
1.9162

101
1.7244
1.6967

102
1.5371
1.4798

103
1.3112
1.2515

104
1.0000
0.9596

105 or older
0.4928
0.4928

Part 2—Factors
  
Table 1  Factors
Age
Male
Female

30 or younger
33.2882
35.2430

31
32.9153
34.8969

32
32.5340
34.5436

33
32.1433
34.1835

34
31.7437
33.8162

35
31.3352
33.4410

36
30.9169
33.0586

37
30.4893
32.6683

38
30.0519
32.2701

39
29.6046
31.8636

40
29.1478
31.4491

41
28.6813
31.0265

42
28.2054
30.5955

43
27.7202
30.1563

44
27.2259
29.7090

45
26.7226
29.2540

46
26.2104
28.7906

47
25.6898
28.3195

48
25.1606
27.8407

49
24.6233
27.3540

50
24.0785
26.8602

51
23.5262
26.3590

52
22.9670
25.8512

53
22.4013
25.3363

54
21.8298
24.8143

55
21.2538
24.2857

56
20.6735
23.7500

57
20.0902
23.2075

58
19.5043
22.6580

59
18.9153
22.1017

60
18.3239
21.5383

61
17.7307
20.9681

62
17.1358
20.3913

63
16.5395
19.8080

64
15.9459
19.2187

65
15.3558
18.6243

66
14.7700
18.0249

67
14.1892
17.4213

68
13.6142
16.8133

69
13.0476
16.2036

70
12.4902
15.5925

71
11.9427
14.9802

72
11.4062
14.3676

73
10.8808
13.7552

74
10.3605
13.1432

75
9.8457
12.5326

76
9.3377
11.9249

77
8.8379
11.3213

78
8.3475
10.7240

79
7.8727
10.1364

80
7.4143
9.5606

81
6.9723
8.9993

82
6.5466
8.4536

83
6.1375
7.9252

84
5.7514
7.4177

85
5.3885
6.9320

86
5.0493
6.4695

87
4.7341
6.0314

88
4.4413
5.6184

89
4.1659
5.2237

90
3.9062
4.8463

91
3.6601
4.4844

92
3.4257
4.1362

93
3.2000
3.7986

94
2.9781
3.4821

95
2.7716
3.1851

96
2.5795
2.9056

97
2.4010
2.6407

98
2.2283
2.3863

99
2.0594
2.1451

100
1.8961
1.9162

101
1.7244
1.6967

102
1.5371
1.4798

103
1.3112
1.2515

104
1.0000
0.9596

105 or older
0.4928
0.4928

Table 2  Factors
Factors
 
 

Age
Male
Female

60
20.6553
22.0992

61
20.0494
21.5219

62
19.4383
20.9364

63
18.8222
20.3433

64
18.2031
19.7430

65
17.5819
19.1362

66
16.9592
18.5233

67
16.3356
17.9048

68
15.7121
17.2814

69
15.0907
16.6531

70
14.4723
16.0201

71
13.8504
15.3936

72
13.2320
14.7642

73
12.6175
14.1327

74
12.0080
13.4985

75
11.4045
12.8626

76
10.8094
12.2370

77
10.2254
11.6120

78
9.6547
10.9883

79
9.1002
10.3751

80
8.5633
9.7744

81
8.0448
9.1885

82
7.5458
8.6171

83
7.0669
8.0623

84
6.6140
7.5275

85
6.1881
7.0148

86
5.7715
6.5219

87
5.3849
6.0489

88
5.0283
5.5956

89
4.6985
5.1722

90
4.3956
4.7802

91
4.1201
4.4158

92
3.8591
4.0854

93
3.6098
3.7920

94
3.3716
3.5123

95
3.1418
3.2425

96
2.9164
2.9776

97
2.7000
2.7104

98
2.4825
2.4304

99
2.2571
2.1550

100
2.0173
1.8786

101
1.8378
1.6584

102
1.6442
1.4486

103
1.4140
1.2294

104
1.1014
0.9497

105 or older
0.6077
0.5002

 
Table 3  Factors
Age
Male
Female

30 or younger
33.3852
32.7477

31
33.0479
32.3932

32
32.7038
32.0328

33
32.3528
31.6661

34
31.9950
31.2930

35
31.6304
30.9130

36
31.2589
30.5265

37
30.8805
30.1331

38
30.4951
29.7329

39
30.1025
29.3257

40
29.7029
28.9117

41
29.2035
28.4127

42
28.6950
27.9059

43
28.1772
27.3918

44
27.6500
26.8695

45
27.1131
26.3391

46
26.5671
25.8007

47
26.0118
25.2543

48
25.4474
24.7001

49
24.8739
24.1396

50
24.2913
23.5727

51
23.4958
22.9999

52
22.6882
22.4215

53
21.8689
21.8378

54
21.0390
21.2498

55
20.1993
20.6581

56
19.6682
20.1463

57
19.1324
19.6313

58
18.5923
19.1137

59
18.0503
18.5931

60
17.5071
18.0691

61
16.9638
17.5422

62
16.4212
17.0127

63
15.8804
16.4815

64
15.3415
15.9498

65
14.8055
15.4184

66
14.2734
14.8886

67
13.7459
14.3613

68
13.2236
13.8378

69
12.7053
13.3161

70
12.1908
12.7974

71
11.6805
12.2822

72
11.1740
11.7708

73
10.6708
11.2588

74
10.1720
10.7513

75
9.6782
10.2497

76
9.1907
9.7561

77
8.7116
9.2726

78
8.2424
8.8015

79
7.7875
8.3410

80
7.3480
7.8913

81
6.9252
7.4222

82
6.5199
6.9665

83
6.1326
6.5241

84
5.7662
6.1001

85
5.4213
5.6960

86
5.0992
5.3148

87
4.8012
4.9598

88
4.5278
4.6350

89
4.2652
4.3345

90
4.0103
4.0579

91
3.7587
3.8029

92
3.5044
3.5659

93
3.2655
3.3406

94
3.0424
3.1229

95
2.8343
2.9064

96
2.6405
2.6842

97
2.4606
2.4469

98
2.2870
2.2073

99
2.1183
1.9795

100
1.9564
1.7638

101
1.7884
1.5600

102
1.6071
1.3688

103
1.3901
1.1719

104
1.0907
0.9197

105 or older
0.6076
0.5002