Interest to be Paid and Charged by the Government Superannuation Fund The Government Superannuation Fund Authority hereby determines the methods for calculating interest to be paid and charged under various sections of the Government Superannuation Fund Act 1956 as follows: (i) In respect of interest paid, pursuant to sections 18, 42 (3) or 42 (6): "The rate shall be calculated in respect of each year of the deemed investment as the equivalent of the Fund's after tax investment return for that year, and in respect of any period for which the Fund's investment return has not yet been published or periods of less than a year, the after tax equivalent of the 90 day bank bill rate published by the Reserve Bank for the relevant period." (ii) In respect of interest to be charged in terms of section 95B where there has been no agreement to defer payment: "The rate shall be calculated as the equivalent of the Fund's pre tax investment return for the relevant period and in respect of any period for which the Fund's investment return has not yet been published or period of less than a year, the 90 day bank bill rate published by the Reserve Bank for the relevant period." (iii) In respect of interest to be charged in terms of section 95B where there has been an agreement to defer payment: "The rate shall be calculated as the fixed term mortgage rate as published by the Reserve Bank for the appropriate period, with the 5 year rate being used for periods of 5 years or more." The above methods have been designed to reflect either the earning rate of the Fund or appropriate market interest rates, and are approved by the Minister of Finance. This determination takes effect from 4 April 2002. Dated this 28th day of March 2002. DAVID MAY, Deputy Chairman, Government Superannuation Fund Authority Board.