New South Wales Consolidated Acts

JUDGES' PENSIONS ACT 1953 - SECT 13

13 Calculation of lump sum benefits

(1) The lump sum benefit payable under this Act to or in respect of a judge or acting judge qualified under section 15 is an amount calculated as follows:

"B" represents the amount to be ascertained.
"F" represents the final salary of the judge or acting judge.
"Y" represents the years of service calculated on a daily basis, commencing on or after the appointed day.

(2) In this section:
"attributed salary" of a judge or acting judge at any time means:

(a) if the judge or acting judge is employed on a full-time basis-the salary of the judge or acting judge at that time, or

(b) if the judge or acting judge is employed on a part-time basis-the salary that would be payable to the judge or acting judge at that time if employed on a full-time basis.

"final salary" of a judge or acting judge means the rate of attributed salary paid or payable to the judge or acting judge on the exit date of the judge or acting judge.