Values shown are determined under the formula below at the time benefit payments commence.

For more information about discounting for interest and survivorship (member, beneficiary and joint), see the Technical Reference article entitled “Present values: benefits payable (m)thly ”.

Note regarding interpolation of J&S annuity values for monthly ages under the Administration Factors Tool: values of , and are determined at integral ages and interpolated separately, before being put together to form the present value of the entire J&S payment form.

where ages are:

x  the member’s age on the commencement date and

y  the beneficiary’s age on the commencement date;

and annuity values are:

 for the annuity to the member,

 for the annuity to the beneficiary,

 for the joint life annuity

and J&S fractions of benefit are:

 when both the member and beneficiary are alive,

 when only the member is alive and

 when only the beneficiary is alive.

, and all have the same deferral, certain and temporary periods, the same benefit payment frequency and the same annuity payment timing (beginning versus end of period).