South Australian Consolidated Acts South Australian Consolidated ActsSchedule 1—Transitional provisions
1—Continuity of contributor
status
(1) All employees who
were, immediately before the commencement of this Act, contributors to
the Scheme under the repealed Act continue as contributors under this Act.
(2) All employees who
were, immediately before the commencement of this Act, contributors to the
Provident Account under the repealed Act—
(a)
become, on the commencement of this Act, contributors to the Scheme; and
(b) will
be classified for the purposes of this Act as old scheme contributors; and
(c)
will, subject to clause 6, be treated in the same way as other
old scheme contributors.
(2a) A person who,
immediately before the commencement of this Act, was an employee of the
Australian National Railways Commission and was also a contributor to the Fund
or the Provident Account will be taken to be an employee for the purposes of
this Act until he or she ceases to be an employee of the Australian National
Railways Commission.
(3) A
new scheme contributor who was accepted as a contributor before the
commencement of this Act may, within three months after the commencement of
this Act, elect to resign from membership of the Fund and in that event—
(a) the
balance standing to the credit of the contributor's contribution account will
be refunded; and
(b) he
or she will cease to be a contributor.
2—Contributions by old scheme and certain new scheme contributors
(1) This clause
applies to—
(a)
old scheme contributors; and
(b)
new scheme contributors who were accepted as contributors before the
commencement of this Act.
(2) For the purposes
of this Act, the standard contribution rate for a contributor to which this
clause applies is the percentage which—
(a) in
the case of a higher benefit contributor (as defined in the
repealed Act)—constituted the contributor's standard percentage of
contribution for the purposes of the repealed Act;
(b) in
the case of a lower benefit contributor (as defined in the repealed
Act)—is equal to twice the percentage that constituted the contributor's
standard percentage of contribution for the purposes of the repealed Act,
(but this subclause applies to new scheme contributors only until the date
fixed by the Board under subclause (3) when the
standard contribution rate for such a contributor will become 6% of salary).
(3) The amount
contributed by a contributor to which this clause applies will continue to be
governed by the repealed Act until a date fixed by the Board.
3—Starting balance of contribution account of old scheme contributors
(1) The Board will
establish a contribution account in the name of every
old scheme contributor—
(a) who
continues as a contributor under this Act; or
(b) to,
or in relation to, whom a pension is being paid at the commencement of this
Act.
(2) The balance of the
account, as at the commencement of this Act, of a contributor who was still in
employment at the commencement of this Act will be an amount calculated in
accordance with section 79 of the repealed Act as if the contributor had
become entitled to a payment under that section on the commencement of this
Act.
(3) The balance of the
account, as at the commencement of this Act, of a contributor whose employment
had ceased before the commencement of this Act will be an amount calculated in
accordance with section 81 of the repealed Act as if an entitlement to a
payment under that section had arisen at the commencement of this Act.
3A—Starting balance for certain new scheme contributors
(1) The contribution
account of a new scheme contributor who was accepted as a contributor before
the commencement of this Act will be credited with the following amounts:
(a) the
aggregate amount of contributions made by the contributor before the
commencement of this Act; and
(b) an
amount determined by the Board to be the return attributable to the investment
of those contributions before the commencement of this Act; and
(c)
where the amount referred to in paragraph (b) was not credited to the
contributor's contribution account on 1 July, 1988, an amount determined by
the Board to be the return that would have been attributable to the investment
of that amount if it had been credited to the account on 1 July, 1988.
(2) The amount to be
credited to a contribution account under subclause (1)(b) and (c) must be
debited against the unallocated portion of the old scheme division of
the Fund.
4—Special provision as to contribution period of certain contributors
The contribution period of an old scheme contributor who was accepted as a
contributor—
(a)
after reaching the age of 30 years; but
(b)
before the commencement of the repealed Act, will be taken to have commenced
when the contributor reached the age of 30 years.
5—Superannuation points carried over by old scheme contributors
(1) To calculate the
number of superannuation points of an old scheme contributor as at the
commencement of this Act, proceed as follows:
(a)
calculate the pension (ignoring any neglected unit reduction, fund share
reduction or excess unit addition) to which the contributor would be, or would
have been, entitled under the repealed Act on retirement at the age of
retirement assuming that the contributor had retired, or were to retire, at
that age and, in the case of a contributor under that age at the commencement
of this Act—
(i)
that the repealed Act remained in force; and
(ii)
that the contributor's rate of contribution remained
constant until the contributor attained that age; and
(iii)
that the contributor's contribution salary (as defined in
the repealed Act) were the contributor's actual salary and remained constant
until the contributor retired at the age of retirement;
(b)
express this pension as a proportion of the theoretical maximum pension;
(c)
convert this proportion to the fraction with a denominator of 360;
(d) the
number of points is then given by the following formula:
Where—
P is the number of points
x is the numerator of the fraction arrived at under paragraph (c)
n is—
(a) in
relation to a person who was accepted as a contributor under the repealed Act
before the age of 30 years—the number of months from the date of
acceptance to the age of 30 years or the commencement of this Act whichever is
the earlier (and, if the period is not exactly divisible into whole months,
any remainder will be treated as a whole month);
(b) in
any other case—0
p is the number of months (if any) by which the contributor's age, as at the
commencement of this Act, falls short of the age of retirement or 360
(whichever is the lesser)
m is—
(a) in
relation to a contributor contributing for higher benefits under
the repealed Act—1;
(b) in
relation to a contributor contributing for lower benefits under the
repealed Act—½
y is—
(a) in
relation to a person who became a higher benefit contributor by virtue of an
election under section 57B of the repealed Act—
(b) in
any other case—0
q is the number of months (if any) by which the contributor's age, as at the
commencement of this Act, exceeds the age of retirement.
(2) In this
clause—
theoretical maximum pension in relation to a contributor means the pension
that would be payable to the contributor on retirement at the
age of retirement assuming—
(a) that
the repealed Act remained in force; and
(b) that
the contributor were employed throughout any future period of his or her
employment at the contributor's contribution salary as it was immediately
before the commencement of this Act; and
(c) that
the contributor were a new contributor (as defined in the repealed Act) and
had elected for higher benefits; and
(d) that
the contributor attained 360 contribution months on or before attaining the
age of retirement.
6—Special provisions for contributors to the Provident Account
(1) Where—
(a) a
contributor was a contributor to the Provident Account under the repealed Act;
(b) the
contributor's employment is terminated by death or on account of invalidity
before the contributor reaches the age of retirement;
(c) the
death or invalidity arises in circumstances or under conditions determined by
the Board in relation to the contributor,
the Board may determine not to pay, or to discontinue payment of, a pension or
pensions under this Act to or in relation to the contributor and to pay
instead a lump sum calculated as follows to the contributor or the
contributor's estate:
Where—
LS is the amount of the lump sum
A is the lesser of the following:
(a)
unity;
(b) the
numerical value obtained by dividing the number of the contributor's accrued
superannuation points by—
(i)
in the case of a contributor who was accepted as a
contributor under the repealed Act before reaching the age of 30
years—the number of months between the contributor's age as at the date
of acceptance and the age of retirement;
(ii)
in any other case—360
FS is the contributor's actual or attributed salary immediately before
termination of employment (expressed as an annual amount)
Z is—
(a) in
relation to a contributor who is 55 years of age or less—11.5;
(b) in
relation to a contributor who is over the age of 55 years—11.5 less
0.0167 for every month by which the contributor's age exceeds 55 years
Pn is—
(a) in
the case of a contributor who was in full-time employment during that part of
the contribution period occurring after 31 December 1987—1;
(b) in
any other case—the numerical value arrived at by expressing the
contributor's employment while an active contributor during that part of the
contribution period as a proportion of full-time employment during that part
of the contribution period
M is the number of months of the contributor's contribution period occurring
after 31 December 1987.
(2) A determination
for the purposes of subclause (1)(c) must be made within three months
after the commencement of this Act.
7—Limited benefit contributors
(1) Subject to
subclause (2), a contributor who was immediately before the commencement
of this Act affected by conditions imposed under section 65 of
the repealed Act remains subject to those conditions after the commencement of
this Act.
(2) The Board will
relax or revoke any such condition if satisfied by evidence provided by the
contributor that there is proper cause to do so.
(3) Where a
contributor is entitled to the payment of a lump sum but is not entitled to a
pension under this Act by virtue of conditions referred to in
subclause (1), the lump sum will be the aggregate of three and one-half
times the balance standing to the credit of the contributor's contribution
account and an amount calculated as follows:
Where—
A is the amount
Pn is—
(a) in
the case of a contributor who was in full-time employment during that part of
the contribution period occurring after 31 December 1987—1;
(b) in
any other case—the numerical value arrived at by expressing the
contributor's employment while an active contributor during that part of the
contribution period as a proportion of full-time employment during that part
of the contribution period
FS is the contributor's actual or attributed salary (expressed as an annual
amount) immediately before termination of employment
M is the number of months of the contributor's contribution period occurring
after 31 December 1987.
8—Preservation of excess unit addition
Where—
(a) a
pension becomes payable to or in relation to an old scheme contributor after
the commencement of this Act;
(b) the
pension would if the repealed Act had continued in operation be increased by
an excess unit addition,
there will be a corresponding increase of the pension payable under this Act.
9—Neglected unit and fund share reduction
(1) Subject to this
Act, where a pension to, or in relation to, an old scheme contributor would,
if granted under the repealed Act, have been subject to a neglected unit
reduction or a fund share reduction, the corresponding pension under this Act
will be subject to a corresponding reduction.
(1a) Where—
(a) an
old scheme contributor resigns from employment and elects to preserve his or
her accrued superannuation benefits; and
(b) the
contributor was, before resignation, making pension maintenance payments or
neglected unit maintenance payments, or purchasing contribution months by
fortnightly contributions,
a pension that subsequently becomes payable to or in relation to the
contributor will be reduced to an extent determined by the Board.
(2) A contributor may
reduce or eliminate a reduction of pension under this clause by payment to the
Treasurer of a lump sum determined by the Board.
(3) A contributor who
desires to reduce or eliminate a reduction of pension under this clause must,
within one month after first becoming entitled to receive the pension inform
the Board in writing of his or her intention to do so, and must pay the
appropriate lump sum within one month after receiving notification from
the Board of the relevant amount.
10—Pensions that commenced under previous enactments
(1) A pension that
commenced under the repealed Act, or under a corresponding previous enactment,
is, subject to this Act, payable as if this Act had been in force when the
pension commenced.
(2) This Act, apart
from provisions relating to indexation, commutation and reduction or
suspension of pensions, does not affect the amount of any such pension.
11—Abolition of Provident Account, and Retirement Benefit Account
(1) The Provident
Account and the Retirement Benefit Account established under section 99
of the repealed Act are abolished.
(2) Any contributions
to the Provident Account will be treated as contributions made in accordance
with the Scheme.
(3) The balance
standing to the credit of any person in the Retirement Benefit Account will be
returned to that person.
12—Continuation of superannuation arrangements
(1) Any arrangements
in force under section 11 of the repealed Act immediately before the
commencement of this Act will continue in force as if they had been made under
section 5 of this Act.
(2) Money paid by an
employer pursuant to an arrangement referred to in subclause (1) and held
by the Superannuation Funds Management Corporation of South Australia does not
form part of the Fund and must be applied by the Superannuation Funds
Management Corporation of South Australia in accordance with the arrangement.
13—Continuation of membership of elected members of the Board
(1) Any members
elected to the Board before the commencement of this Act continue in office
subject to this Act as if it had been in force when they were elected and they
had then been elected under it.
(2) The offices of the
other members of the Board become vacant on the commencement of this Act.
14—Retrospective operation of preservation rights
The rights conferred by section 39 extend to a contributor who resigned
before the commencement of this Act but on or after 1 January, 1988.
15—Benefits under Parts 4 and 5
(1) Subject to
clause 15A, Parts 4 and 5 as in force immediately before the commencement
of the Superannuation (Scheme Revision) Amendment Act 1992 continue to
apply to and in relation to the following contributors:
(a) a
contributor who was a contributor immediately before 1 July 1992 and in
relation to whom benefits did not accrue under the Public Sector Employees
Superannuation Scheme;
(b) a
contributor who has received or is entitled to receive benefits under the
Public Sector Employees Superannuation Scheme or in relation to whom such
benefits have been paid or are payable;
(c) a
contributor who would receive a higher benefit, or in relation to whom a
higher benefit would be payable, under those provisions immediately before
amendment by the Superannuation (Scheme Revision) Amendment Act 1992 .
(2) A contributor
whose employment terminates or is terminated on or after 1 July 1992 and who
is entitled to a benefit under the Public Sector Employees
Superannuation Scheme or a person who is entitled to such a benefit in
relation to a contributor whose employment was terminated by death on or after
1 July 1992 may renounce the entitlement by instrument in writing to the Board
within three months after becoming entitled or within three months after the
Governor assents to the Superannuation (Scheme Revision) Amendment
Act 1992 , whichever is later and upon renunciation the contributor or
other person will be taken for the purposes of subclause (1)(b) never to
have been entitled.
(3) Where benefits
under the Public Sector Employees Superannuation Scheme have been credited to
an account maintained by the Board in the name of a contributor under section
28 of the Superannuation (Benefit Scheme) Act 1992 , the contributor will
be taken, for the purposes of subclause (1)(b), to have received those
benefits.
15A—Early retirement benefit for certain contributors
(1) A
contributor—
(a) who
resigned from employment before 1 July 1992 after a contribution period of 120
months or more and preserved his or her accrued superannuation benefits under
section 39; and
(b) who,
on or before reaching the age of retirement, requires the Board to commence
paying a retirement pension,
is entitled to the following benefits:
(c) if
the contributor was accepted as a contributor before the age of 30 years and
before commencement of the repealed Act, the contributor is entitled to a
pension in accordance with section 39(7) and (8) as in force immediately
before the Superannuation (Miscellaneous) Amendment Act 1994 came into
operation;
(d) in
any other case the contributor is entitled to a pension calculated as follows:
Where—
P is the amount of the pension (expressed as an amount per fortnight)
AFS is the contributor's actual or attributed salary (expressed as an amount
per fortnight) immediately before resignation adjusted to reflect changes in
the Consumer Price Index between the date of resignation and the date on which
the pension first became payable
A is the lesser of the following:
(a)
unity;
(b) the
numerical value obtained by dividing the number of the contributor's accrued
contribution points by—
(i)
in the case of a contributor who was accepted as a
contributor under the repealed Act before reaching the age of 30
years—the number of months between the date of acceptance and the date
on which the pension first became payable;
(ii)
in any other case—300 + n 2
n 2 is the number of months between the day on which the contributor reached
the age of 55 years and the day on which the pension first became payable.
(2) For the purpose of
applying section 39(7) as required by subclause (1)(c), the factor
"NP" in the formula in section 39(7) is the amount of pension that would
have been payable to the contributor if it were calculated under
subclause (1)(d).
(3) A contributor
referred to in clause 15(1) who is an old scheme contributor and who
retires on or after reaching the age of 55 years but before the
age of retirement is entitled to a pension calculated as follows:
Where—
P is the amount of the pension (expressed as an amount per fortnight)
FS is the contributor's actual or attributed salary (expressed as an amount
per fortnight) immediately before retirement
A is the lesser of the following:
(a)
unity;
(b) the
numerical value obtained by dividing the number of the contributor's accrued
contribution points by—
(i)
in the case of a contributor who was accepted as a
contributor under the repealed Act before reaching the age of 30
years—the number of months between the date of acceptance and the date
on which the pension first became payable;
(ii)
in any other case—300 + n 2
n 2 is the number of months between the day on which the contributor reached
the age of 55 years and the day on which the pension first became payable.
16—Transference from old scheme to new scheme
(1) Subject to
subclause (8), an old scheme contributor may, by notice in writing given
to the Board on or before 31 December 1993, elect to become a contributor to
the new scheme.
(2) A contributor who
makes an election under subclause (1) will be taken to have become a
new scheme contributor on 1 July 1992.
(3) Where conditions
limiting the payment of benefits applied in relation to the contributor under
the old scheme the same conditions will, if they can be applied without
modification, apply in relation to the contributor under the new scheme, but
if not the Board will apply conditions that are, in its opinion, appropriate
limiting the payment of benefits to or in relation to, the contributor under
the new scheme.
(4) For the purpose of
determining the benefits payable to, or in relation to, the contributor under
the old scheme and the time at which they are payable, the contributor will be
taken to have resigned from employment on 30 June 1992 and to have elected to
preserve his or her accrued superannuation benefits under section 39.
(5) Benefits that are
preserved by virtue of subclause (4) are not payable to the contributor
while the contributor is employed in employment to which this Act applies.
(6) For the purpose of
calculating the contributor's benefits under the new scheme—
(a)
contribution points accrued before 1 July 1992 and contribution months
occurring before that date will be disregarded; and
(b)
the Board will establish a new account in the name of the contributor as at
1 July 1992.
(7) The
standard contribution rate that applied in relation to the contributor before
1 July 1992 will continue to apply in relation to the contributor from 1 July
1992 until 30 June following the election made by the contributor under
subclause (1).
(8) This clause does
not apply for the benefit of—
(a) an
employee of the Australian National Railways Commission;
(b) a
contributor who has reached the age of retirement.
(9) In this
clause—
the new scheme means the scheme of superannuation established by Part 4 of
this Act;
the old scheme means the scheme of superannuation established by Part 5 of
this Act.
17—Payment of contributions while on leave without pay
Section 4(8) does not apply to a contributor who is on leave without pay
when the Superannuation (Miscellaneous) Amendment Act 1994 comes into
operation in respect of that period of leave.
18—Repeal of contribution rate
(1) A contributor who
was contributing at the rate of 1.5% at the commencement of the Superannuation
(Miscellaneous) Amendment Act 1998 is entitled to continue contributing
at that rate until 1 July 1998.
(2) A contributor
referred to in subclause (1) who fails to elect some other rate of
contribution under section 23 in respect of the 1998/1999 financial year
will be taken to have elected to cease contributing in respect of that year.
19—Operation of sections 28(1f) and 39(1db)
Section 28(1f) and 39(1db) substituted by the Superannuation
(Miscellaneous) Amendment Act 1998 operate in relation to the 1997/1998
and subsequent financial years and the provisions they replace operate in
relation to the 1996/1997 and previous financial years.
20—Election on retrenchment under section 29
A new scheme contributor who—
(a) was
retrenched one year or less before the commencement of the Superannuation
(Miscellaneous) Amendment Act 1998 ; and
(b) had
not reached the age of 55 years at that time; and
(c) had
not made an election under section 29(1) at that time,
is entitled to make the election within three months after the commencement of
that Act.
21—Operation of amendments made by Statutes Amendment (Equal
Superannuation Entitlements for Same Sex Couples) Act 2003
An amendment made by the Statutes Amendment (Equal Superannuation Entitlements
for Same Sex Couples) Act 2003 to a provision of this Act that provides for,
or relates to, the payment of a pension, lump sum or other benefit to a person
on the death of a contributor applies only if the death occurs on or after 3
July 2003.