1.1.R.70 Recent index number, base index number
This definition applies to all payments.
Definition: recent index number
In relation to the indexation (1.1.I.100) of a payment, the recent index number is the index number for the second last quarter before the day on which the first of those indexed payments is to be made.
Definition: base index number
The base index number is the index number for the same quarter as the recent index number but for the immediately preceding year.
Act reference: SSAct section 9A Meaning of asset-test exempt income stream - lifetime income streams, section 9B Meaning of asset-test exempt income stream - life expectancy income streams