This regulation may be cited as the Superannuation (State Public Sector) Amendment of Deed Regulation (No. 2) 2019.
This regulation commences on 1 July 2019.
This regulation amends the Superannuation (State Public Sector) Deed 1990.
Section 22(6)(b), ‘section 38’—
Chapter 1, part 6B—
omit, insert—(1)For section 29(1)(a) of the Act, the contribution payable by the Treasurer for a defined benefit for a defined benefit member is the amount decided by the board on the advice of the actuary.(2)The contribution under subsection (1) must be paid when the defined benefit member becomes entitled to the defined benefit, regardless of whether or not the defined benefit is paid out of the fund.(3)In addition to any contribution paid under subsection (1), the Treasurer may at any time pay to the fund a contribution the Treasurer considers necessary or desirable for the efficient and effective operation of the fund.(1)The board may accept a contribution made by or for a member under this deed only if the contribution is made in accordance with the SIS regulation, regulation 7.04.(2)In addition, the board may in its absolute discretion accept a voluntary contribution made by or for a member.(3)If the board accepts a voluntary contribution, the contribution must be credited to the member’s accumulation account.(4)If the board does not accept a contribution, the board must return the contribution in accordance with the SIS regulation, regulation 7.04(4).
Section 30(2), note—
omit, insert—A person may appeal a decision of the board to the Australian Financial Complaints Authority if the decision is one that may be considered by the Authority under the Corporations Act.
renumber as section 35(2).
Section 39, from ‘shall’ to ‘section 38’—
must be credited towards the member’s accumulation account
Chapter 2, part 3—
Section 73(2), ‘sections 74 and 75D’—
sections 27C and 74
omit, insert—(2)The board must transfer the member to the basic accumulation category if the member does not give the board details of the member’s tax file number within 6 months after becoming a member.(2)Section 75C(3), ‘subsection (2)(b)’—
Chapter 3, part 3, division 1—
Chapter 3, part 3, divisions 2 and 4—
renumber as chapter 3, part 3, divisions 1 and 2.