Military Superannuation and Benefits Amendment Trust Deed 1999 (No. 1)
I, BRUCE SCOTT, Minister for Veterans’ Affairs and Minister Assisting the Minister for Defence, make this instrument under subsection 5 (1) of the Military Superannuation and Benefits Act 1991.
Dated 1 June 1999.
BRUCE SCOTT
Minister for Veterans’ Affairs
and Minister Assisting the Minister for Defence
Military Superannuation and Benefits Amendment Trust Deed 1999 (No. 1)1
made under the
Military Superannuation and Benefits Act 1991
Contents
Page
1 Name of instrument
2 Commencement
3 Amendment of Trust Deed made under the Military Superannuation and Benefits Act 1991
Schedule 1 Amendments
This instrument is the Military Superannuation and Benefits Amendment Trust Deed 1999 (No. 1).
This instrument commences on gazettal.
3 Amendment of Trust Deed made under the Military Superannuation and Benefits Act 1991
Schedule 1 amends the Military Superannuation and Benefits Trust Deed made under the Military Superannuation and Benefits Act 1991.
(section 3)
[1] Rules, subrule 12 (2)
omit
In
insert
Subject to Part 10, in
[2] Rules, paragraphs 13 (1) (a) and 13 (2) (d)
omit
his or her
insert
subject to Part 10, his or her
[3] Rules, paragraph 13 (4) (b)
omit
subrule (4A),
insert
Part 10,
[4] Rules, subrule 13 (4A)
omit
[5] Rules, paragraph 14 (1) (c)
omit
his or her
insert
subject to Part 10, his or her
[6] Rules, paragraph 14 (1) (d)
omit
subrule (6),
insert
Part 10,
[7] Rules, paragraphs 14 (3) (b) and (c)
omit
subrule (6),
insert
Part 10,
[8] Rules, subrule 14 (6)
omit
[9] Rules, paragraph 27 (1) (a)
omit
his or her
insert
subject to Part 10, his or her
[10] Rules, paragraph 27 (1) (b)
omit
subrule (4),
insert
Part 10,
[11] Rules, subrule 27 (4)
omit
[12] Rules, paragraph 28 (1) (a)
omit
his or her
insert
subject to Part 10, his or her
[13] Rules, paragraph 28 (1) (b)
omit
subrule (4),
insert
Part 10,
[14] Rules, subrule 28 (4)
omit
[15] Rules, rule 39
omit
A deceased member’s member benefit
insert
Subject to Part 10, a deceased member’s member benefit
[16] Rules, subrule 40 (1)
omit
subrule (4A),
insert
Part 10,
[17] Rules, subrule 40 (4A)
omit
[18] Rules, subrule 49 (1)
omit
subrule (2),
insert
subrule (2) and Part 10,
[19] Rules, subrule 51 (1)
omit
Where
insert
Subject to Part 10, if
[20] Rules, subrule 51 (1B)
substitute
(1B) If only part of a benefit payable under subrule (1) is payable because of subrule (1A), that part may be reduced by part of the surcharge deduction amount before it is paid as a lump sum if the Board considers that there may be insufficient benefit remaining unpaid to pay the surcharge deduction amount.
[21] Rules, subrule 52 (1)
omit
(2), (3) and (3A),
insert
(2) and (3) and Part 10,
[22] Rules, subrule 52 (3A)
omit
[23] Rules, subrules 53 (1) and (2)
omit
subrule (3),
insert
Part 10,
[24] Rules, subrule 53 (3)
omit
[25] Rules, subrule 54 (2)
omit
subrule (4A),
insert
Part 10,
[26] Rules, subrule 54 (3)
omit
Where
insert
Subject to Part 10, if
[27] Rules, subrule 54 (4)
omit
subrule (4A),
insert
Part 10,
[28] Rules, subrule 54 (4A)
omit
[29] Rules, after subrule 64 (2)
insert
(2A) If a person is allowed to make an election under Part 10, he or she may make the election in the same way as an election mentioned in subrule (2).
[30] Rules, after rule 79
insert
Part 10 Surcharge deduction amount
80 Deduction of surcharge deduction amount
(1) If a member’s surcharge debt account is in debit when a benefit under these Rules becomes payable to or in respect of the member, the member may, by notice in writing to the Board, elect to discharge the debt in 1 or more of the following ways:
(a) by deduction from the member’s employer benefit before it is paid to the member as a lump sum, or before it is converted into a pension;
(b) by deduction from the member’s member benefit before it is paid to the member as a lump sum;
(c) by deduction from the pension payable to the member after conversion of the member’s employer benefit.
(2) If the member does not make an election in accordance with subrule (1), the debt must be discharged in the following ways:
(a) if these Rules provide that the member is to receive the employer benefit in the form of a pension — by deduction from the member’s employer benefit after it is converted into a pension;
(b) if these Rules provide that the member may elect to receive their employer benefit either as a lump sum payment or converted into a pension and the member elects to convert the whole or any part of the benefit to a pension — by deduction from the member’s employer benefit after it is converted into a pension;
(c) in any other case — by deduction from the member’s employer benefit before it is paid as a lump sum.
81 Deduction of surcharge deduction amount where member deceased
(1) If a deceased member’s surcharge debt account is in debit, a person entitled under these Rules to be paid the deceased member’s employer benefit or member benefit (the claimant) may, by notice in writing to the Board, elect to have the debt discharged in 1 or more of the following ways:
(a) by deduction from the deceased member’s employer benefit before it is paid to the claimant as a lump sum, or converted into a pension;
(b) by deduction from the deceased member’s member benefit before it is paid to the claimant as a lump sum;
(c) by deduction from the pension payable to the claimant after conversion of the deceased member’s employer benefit.
(2) If the claimant does not make an election in accordance with subrule (1), the debt must be discharged in the following ways:
(a) if these Rules provide that the claimant is to receive the deceased member’s employer benefit in the form of a pension — by deduction from the deceased member’s employer benefit after it is converted into a pension;
(b) if these Rules provide that the claimant may elect to receive the deceased member’s employer benefit either as a lump sum payment or converted into a pension and the claimant elects to convert the whole or any part of the benefit to a pension — by deduction from the deceased member’s employer benefit after it is converted into a pension;
(c) in any other case — by deduction from the deceased member’s employer benefit before it is paid as a lump sum.
[31] Rules, Schedule 12, item 1
substitute
1. If a member’s surcharge debt account, or a deceased member’s surcharge debt account, is in debit when benefits become payable to or in respect of the member, the Board must determine, in writing:
(a) the surcharge deduction amount that, in its opinion, it would be fair and reasonable to take into account in working out the amount of the benefits; and
(b) if the benefits have been converted into a pension — the conversion factor for working out the yearly amount that would have to be paid to discharge a liability equal to the surcharge deduction amount.
[32] Rules, Schedule 12, item 3
after
determined by the Board
insert
for paragraph 1 (a)
[33] Rules, Schedule 12, after item 3
insert
4. In making a determination for paragraph 1 (b), the Board must also have regard to:
(a) written advice about the conversion factor, prepared by an actuary; and
(b) the person’s age when the benefit becomes payable to the person.
Note