Transitional rules apply to new pensions that start from 1 January 2006 to 30 June 2006. During this time funds may apply the new or the previous pension valuation factor (PVF) rates (but only to new pensions).

Age of Beneficiary	Maximum Pension Valuation Factor	Minimum Pension Valuation Factor
20 or less	12.0	29.2
21	12.0	29.0
22	12.0	28.9
23	12.0	28.7
24	12.0	28.6
25	12.0	28.4
26	12.0	28.3
27	12.0	28.1
28	12.0	27.9
29	12.0	27.8
30	12.0	27.6
31	12.0	27.4
32	12.0	27.2
33	12.0	27.0
34	12.0	26.8
35	12.0	26.6
36	12.0	26.4
37	12.0	26.2
38	12.0	26.0
39	12.0	25.8
40	12.0	25.5
41	12.0	25.3
42	12.0	25.0
43	12.0	24.8
44	12.0	24.5
45	12.0	24.2
46	12.0	24.0
47	12.0	23.7
48	12.0	23.4
49	12.0	23.1
50	12.0	22.8
51	11.9	22.5
52	11.8	22.2
53	11.8	21.8
54	11.7	21.5
55	11.5	21.1
56	11.4	20.8
57	11.3	20.4
58	11.2	20.1
59	11.0	19.7
60	10.9	19.3
61	10.7	18.9
62	10.5	18.5
63	10.3	18.1
64	10.1	17.7
65	9.9	17.3
66	9.6	16.8
67	9.3	16.4
68	9.1	16.0
69	8.7	15.5
70	8.4	15.1
71	8.0	14.6
72	7.6	14.2
73	7.2	13.7
74	6.7	13.3
75	6.2	11.3
76	5.7	12.3
77	5.1	11.9
78	4.5	11.4
79	3.8	10.9
80	3.1	10.5
81	2.3	10.0
82	1.4	9.6
83	1.0	9.1
84	1.0	8.7
85	1.0	8.3
86	1.0	7.9
87	1.0	7.5
88	1.0	7.2
89	1.0	6.9
90	1.0	6.6
91	1.0	6.3
92	1.0	6.0
93	1.0	5.8
94	1.0	5.5
95	1.0	5.3
96	1.0	5.1
97	1.0	4.9
98	1.0	4.7
99	1.0	4.5
100 or more	1.0	4.4

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