South Australian Consolidated Acts

SOUTHERN STATE SUPERANNUATION ACT 2009 - SCHEDULE 1

Schedule 1—Related amendments, repeal and transitional provisions

Part 1—Preliminary

1—Amendment provisions

In this Schedule, a provision under a heading referring to the amendment of a specified Act amends the Act so specified.

Part 2—Amendment of Police Superannuation Act 1990

2—Amendment of section 4—Interpretation

        (1)         Section 4(1), definition of contributor —after "in relation to superannuation" insert:

under this Act

        (2)         Section 4(1), definition of Triple S scheme —after "established by the Southern State Superannuation Act 1994 " insert:

and continued in existence by the Southern State Superannuation Act 2009

3—Amendment of section 13A—Investment option

        (1)         Section 13A(3)(a)—delete "(Employers)"

        (2)         Section 13A(3)(b)—delete "section 15C of the Southern State Superannuation Act 1994 " and substitute:

regulations made pursuant to section 19(3) of the Southern State Superannuation Act 2009

4—Amendment of section 34—Resignation and preservation of benefits

Section 34(1a)(c)(iii)—delete "be a preserved employer component under section 32 of the Southern State Superannuation Act 1994 " and substitute:

have been preserved under regulations made pursuant to section 30(2)(e) of the Southern State Superannuation Act 2009

5—Amendment of section 38G—Interpretation

Section 38G, definition of Southern State Superannuation Fund —after " Southern State Superannuation Act 1994 " insert:

and continued in existence by the Southern State Superannuation Act 2009

Part 3—Amendment of Subordinate Legislation Act 1978

6—Amendment of section 16A—Regulations to which this Part applies

Section 16A—after paragraph (ea) insert:

            (eb)         regulations under the Southern State Superannuation Act 2009 ; and

Part 4—Amendment of Superannuation Funds Management Corporation of South Australia Act 1995

7—Amendment of section 3—Interpretation

        (1)         Section 3(1), definition of public sector superannuation funds , (caa)—delete paragraph (caa)

        (2)         Section 3(1), definition of public sector superannuation funds , (f)—delete paragraph (f) and substitute:

            (f)         money received or held by the South Australian Superannuation Board in the provision of investment or other services that is to be invested by the Corporation in accordance with regulations made under the Southern State Superannuation Act 2009 ;

Part 5—Repeal of Southern State Superannuation Act 1994

8—Repeal of Act

The Southern State Superannuation Act 1994 is repealed.

Part 6—Transitional provisions

9—Interpretation

In this Part—

new scheme means the Southern State Superannuation Scheme continued in existence under this Act;

old scheme means the Southern State Superannuation Scheme under the repealed Act;

relevant day means the day on which the Southern State Superannuation Act 1994 is repealed.

10—Southern State Superannuation (Employers) Fund

        (1)         The Southern State Superannuation (Employers) Fund is dissolved and the money constituting that Fund immediately before the relevant day is incorporated into the Southern State Superannuation Fund continued in existence under this Act.

        (2)         The balance of a member's employer contribution account immediately before the relevant day is credited to the member's contribution account.

11—Balances of accounts

        (1)         An account maintained by the Board for the purposes of the old scheme immediately before the relevant day (other than an employer contribution account) is to be continued under the new scheme until such time as the Board is no longer required under this Act to maintain the account.

        (2)         Subject to clause 10(2), the balance on the relevant day of an account continued under the new scheme is to be equivalent to the balance of the account immediately before that day.

12—Former members of Police Superannuation Scheme

        (1)         This clause applies to a person who became a member of the Triple S scheme by virtue of section 14(2a) of the repealed Act.

        (2)         If the member—

            (a)         made contributions as a deduction from salary under the repealed Act at the applicable percentage from 1 July 2008 until the relevant day; and

            (b)         makes contributions as a deduction from salary under this Act at the applicable percentage until his or her retirement from employment,

he or she is entitled, on that retirement, to—

            (c)         the benefits to which he or she would, but for this subclause, be entitled on retirement under the regulations; or

            (d)         benefits determined in accordance with the method prescribed by regulation,

whichever is the greater.

        (3)         For the purposes of subclause (2)—

            (a)         the applicable percentage in relation to a member is a percentage equal to the rate at which the member was required to contribute under the Police Superannuation Act 1990 immediately before 1 July 2008; and

            (b)         a member retires from employment if—

                  (i)         the member has reached the retirement age (within the meaning of the regulations); and

                  (ii)         the member's employment terminates or is terminated for any reason (except the member's death) and no insurance benefit is payable under this Act in connection with that termination.

        (4)         If benefits are to be paid to the member under subclause (2)(d), the Treasurer must pay into the Fund from the Consolidated Account (which is appropriated to the necessary extent) the amount by which the amount of benefits payable to the member under that subclause exceeds the amount of benefits to which he or she would have been entitled under the regulations if subclause (2) did not apply.

        (5)         If, by virtue of Schedule 3 Part 2 clause 16(1) of the repealed Act, section 24 of the Police Superannuation Act 1990 (the repealed section ) (other than subsection (8)) is, immediately before the relevant day, taken to continue in force in relation to a disability pension received by the member, the following provisions apply:

            (a)         the repealed section (other than subsection (8)) will be taken to continue in force in relation to the pension as if the member were a contributor within the meaning of that section (but the member will not be required to make contributions under the Police Superannuation Act 1990 );

            (b)         the member will not be entitled to a disability pension under this Act in respect of the incapacity that gave rise to the entitlement to the pension.

        (6)         However, if the Police Superannuation Act 1990 was, immediately before the relevant day, taken to continue in force in relation to the member by virtue of Schedule 3 Part 2 clause 16(2) of the repealed Act—

            (a)         Schedule 3 Part 2 clause 15(2) to (10) (inclusive) of the repealed Act (the relevant provisions ) will operate in relation to the member on and from (but not before) the relevant day as if the relevant provisions were still in force, subject to the following modifications:

                  (i)         a reference in the relevant provisions to the prescribed date is to be taken to be a reference to the relevant day;

                  (ii)         the Board will not be required to establish an employer contribution account in the name of the member;

                  (iii)         the amount that would constitute the balance of the member's employer contribution account under clause 15(4) if the Board were required to establish such an account is to be credited to the member's contribution account; and

            (b)         Schedule 3 Part 2 clause 20 of the repealed Act will be taken to continue in force insofar as that clause is relevant to the establishment of contribution and rollover accounts by the Board under the relevant provisions; and

            (c)         subclause (2) (other than paragraph (a)) will apply to the member on and from the relevant day; and

            (d)         the costs associated with—

                  (i)         determining the balances of accounts under the Police Superannuation Act 1990 ; and

                  (ii)         establishing, and determining the balances of, new accounts under this Act; and

                  (iii)         transferring Police Superannuation Scheme contributors to the Triple S scheme; and

                  (iv)         any other administrative act required under, or necessary or expedient for the purposes of, this clause,

will be recoverable from the Police Superannuation Fund.

13—Children in receipt of pension under Police Superannuation Act 1990

        (1)         If a person was, immediately before 1 July 2008, an eligible child in receipt of a pension payable under section 26 of the Police Superannuation Act 1990 (the repealed section ), the pension will continue to be paid to the child throughout any period of dependency as if that Act had not been amended by the Statutes Amendment (Police Superannuation) Act 2008 .

        (2)         Despite section 14 of the Police Superannuation Act 1990 , a pension to be paid under the repealed section pursuant to this clause is not to be charged against the Police Superannuation Fund.

14—Amounts preserved for certain contributors to Police Superannuation Scheme

If—

            (a)         the Board is maintaining a rollover account for a member who is a former contributor to the Police Superannuation Scheme; and

            (b)         the account was established under Schedule 3 Part 2 clause 19(1) or (2) of the repealed Act,

the provisions of the regulations applicable to amounts preserved by members on resignation from employment before reaching the retirement age (within the meaning of the regulations) will apply in relation to the amount standing to the credit of the account as if the amount were a component preserved by the member under the regulations.

15—Operation of nominations and elections under old scheme

        (1)         Subject to this clause, if a nomination or election made by a member or spouse member for a particular purpose under the old scheme is operative immediately before the relevant day, the member or spouse member will be taken to have made the same nomination or election for that purpose under the new scheme.

        (2)         However, a nomination by a member of a class of investments, or a combination of classes of investments, for the purpose of determining a rate of return in respect of an employer contribution account maintained for the member under the old scheme will be taken to be a nomination by the member of a class of investments, or a combination of classes of investments, for the purpose of determining a rate of return in respect of the contribution account maintained for the member under the new scheme.

16—Insurance and disability pension

        (1)         Insurance cover enjoyed by a member or other person under the old scheme immediately before the relevant day continues under the new scheme at the same level and, subject to the regulations, with the same terms and conditions.

        (2)         A disability pension payable to a member immediately before the relevant day continues to be payable to the member, subject to the regulations, with the same terms and conditions.

17—Other provisions

        (1)         The Governor may, by regulation, make additional provisions of a saving or transitional nature consequent on the enactment of this Act or on the amendment of this Act by another Act.

        (2)         A provision of a regulation made under subclause (1) may, if the regulation so provides—

            (a)         in the case of a regulation consequent on the enactment of this Act—take effect from the commencement of this Act or from a later day; and

            (b)         in the case of a regulation consequent on the enactment of an amendment to this Act—take effect from the commencement of the amendment or from a later day.

        (3)         To the extent to which a provision takes effect under subclause (2) from a day earlier than the day of the regulation's publication in the Gazette, the provision does not operate to the disadvantage of a person by—

            (a)         decreasing the person's rights; or

            (b)         imposing liabilities on the person.

        (4)         The Acts Interpretation Act 1915 will, except to the extent of any inconsistency with the provisions of this Schedule (or regulations made under this Schedule), apply to any amendment or repeal effected by this Act.