South Australian Repealed Acts South Australian Repealed ActsThis legislation has been repealed.
15C—Salary sacrifice by members of Police Superannuation Scheme
(1) A police officer
who is a contributor to the Police Superannuation Scheme may elect, by notice
in writing to the Board, to become a member of the Triple S scheme
in order to establish an entitlement to the employer component of benefits
under Part 5 by sacrificing part of his or her salary in accordance with a
contract, an award or an enterprise agreement that entitles the person to
sacrifice all or part of his or her salary.
(2) If a person has
elected, or is taken to have elected, to become a member of
the Triple S scheme under this section, the employer must, within 7 days
after salary is paid to the member, pay to the Treasurer an amount (or arrange
for the payment within that period to the Treasurer of an amount) equivalent
to the member's non-monetary salary that is allocated for the purposes of the
employer component of benefits under Part 5 in accordance with the contract,
award or enterprise agreement.
(3) The amount of the
charge percentage in respect of a person who has elected, or is taken to have
elected, to become a member of the Triple S scheme under subsection (1)
is zero.
(4) A person who has
elected, or is taken to have elected, to become a member of the Triple S
scheme under subsection (1) is entitled to—
(a)
payment, in accordance with Part 5, of the balance of each account maintained
for the person by the Board under section 7 or 27; and
(b)
voluntary invalidity/death insurance taken out under section 22 (if any),
but is not entitled to any other benefits under this Act in his or her
capacity as a member under this section.