Superannuation Amendment (PSSAP Trust Deed—Membership) Instrument 2017
I, Mathias Hubert Paul Cormann, Minister for Finance, make the following instrument.
Dated 25 October 2017
Mathias Hubert Paul Cormann
Minister for Finance
Superannuation Amendment (PSSAP Trust Deed—Membership) Instrument 2017
I, Mathias Hubert Paul Cormann, Minister for Finance, make the following instrument.
Dated 25 October 2017
Mathias Hubert Paul Cormann
Minister for Finance
Contents
1 Name
2 Commencement
3 Authority
4 Schedules
Schedule 1—Amendments
Superannuation (PSSAP) Trust Deed
This instrument is the Superannuation Amendment (PSSAP Trust Deed—Membership) Instrument 2017.
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | At the same time as Schedule 1 to the Superannuation Amendment (PSSAP Membership) Act 2017 commences. | 4 December 2017 |
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
This instrument is made under section 11 of the Superannuation Act 2005.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Superannuation (PSSAP) Trust Deed
1 Rule 1.2.1 of the Schedule (definition of additional employer contributions)
Omit “of an ordinary‑employer‑sponsored member”, substitute “of an ordinary employer‑sponsored member (except a former Commonwealth ordinary employer‑sponsored member)”.
2 Rule 1.2.1 of the Schedule (definition of basic employer contributions)
Repeal the definition, substitute:
basic employer contributions | means, in respect of an ordinary employer‑sponsored member: (a) contributions paid by the designated employer of that member under Rule 2.2.1; or (b) contributions paid by the designated employer of that member as mentioned in Rule 2.2.1A. |
3 Rule 1.2.1 of the Schedule
Insert:
former Commonwealth ordinary employer‑sponsored member | has the same meaning as in the Act.
|
4 Rule 1.2.1 of the Schedule (definition of invalidity retirement)
After “an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
5 Rule 1.2.1 of the Schedule (definition of pay day)
After “to an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
6 Rule 1.2.1 of the Schedule (definition of pay day)
After “in the case of an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
7 Division 1 of Part 2 of the Schedule
Omit:
Becoming a PSSAP member
Note: | A person becomes a PSSAP member under Part 3 of the Act, which also specifies the duration of the person’s PSSAP membership. As well as specifying when a person is eligible to become a member of PSSAP, that Part empowers the Minister to either declare that a particular person is eligible to become a PSSAP member or is not eligible to become a PSSAP member. A designated employer is required to pay contributions only in respect of:
Part 4 of the Act sets out the situations in which a PSSAP member is an ordinary employer‑sponsored member of PSSAP. |
substitute:
Becoming a PSSAP member
Note: | A person becomes a PSSAP member under Part 3 of the Act, which also specifies the duration of the person’s PSSAP membership. As well as specifying when a person is eligible to become a member of PSSAP, that Part empowers the Minister to either declare that a particular person is eligible to become a PSSAP member or is not eligible to become a PSSAP member. Most designated employers are required to pay contributions only in respect of:
However, designated employers of former Commonwealth ordinary employer‑sponsored members are not required to pay contributions in respect of such a member. Instead, such an employer can make contributions in respect of such a member if PSSAP is the member’s chosen fund under the Superannuation Guarantee (Administration) Act 1992. Part 4 of the Act sets out the situations in which a PSSAP member is an ordinary employer‑sponsored member of PSSAP. Former Commonwealth ordinary employer‑sponsored members are ordinary employer‑sponsored members of PSSAP under subsection 18(7) of the Act. |
8 At the end of Rule 2.1.1 of the Schedule
Add:
Note: | A person cannot be a former Commonwealth ordinary employer‑sponsored member while the person is an ordinary employer‑sponsored member under subsection 18(2), (3) or (5) of the Act: see subsection 18(7) of the Act. |
9 Rule 2.2.1 of the Schedule
After “of an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
10 After Rule 2.2.1 of the Schedule
Insert:
2.2.1A If the designated employer of a former Commonwealth ordinary employer‑sponsored member pays contributions to CSC in respect of the member, those contributions are basic employer contributions. However, CSC must reject any such contributions if the SIS Act would prevent the PSSAP Fund from accepting the contributions or if acceptance of the contributions by CSC may jeopardise the status of the PSSAP Fund as a complying superannuation fund.
11 Rule 2.2.2 of the Schedule
After “superannuation salary of an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
12 Rule 2.2.3 of the Schedule
After “superannuation salary of an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
13 Rule 2.2.4 of the Schedule
After “of an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
14 Rule 2.2.4 of the Schedule (note)
Omit “allows employers”, substitute “allows most employers”.
15 At the end of Rule 2.2.5 of the Schedule
Add “However, this Rule does not apply in relation to basic employer contributions mentioned in Rule 2.2.1A.”.
16 Rule 2.2.6 of the Schedule
After “of an ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
17 At the end of Rule 2.2.11 of the Schedule
Add:
Note: | Since Rule 2.2.2 does not apply to a former Commonwealth ordinary employer‑sponsored member, Rules 2.2.8 to 2.2.11 also do not apply to such a member. |
18 At the end of subparagraphs 3.1.1(a)(ii) and (iv) of the Schedule
Add “or”.
19 After paragraph 3.1.1(a) of the Schedule
Insert:
(aa) a former Commonwealth ordinary employer‑sponsored member who is applying for the payment of benefits on the basis that he or she has a permanent incapacity; or
20 At the end of paragraphs 3.1.1(b), (c), (d), (e) and (i) of the Schedule
Add “or”.
21 After Rule 3.1.9 of the Schedule
Insert:
3.1.9A If CSC receives a benefit application from a former Commonwealth ordinary employer‑sponsored member under Rule 3.1.1(aa), CSC may pay the person the whole or a part of the person’s total benefit as requested in the benefit application, subject to the SIS Act.
22 Before Rule 3.3.1 of the Schedule
Insert:
Scope of Division
3.3.1A This Division does not apply to a former Commonwealth ordinary employer‑sponsored member.
23 Rule 4.1.1 of the Schedule
After “for ordinary employer‑sponsored members”, insert “(except former Commonwealth ordinary employer‑sponsored members)”.
24 Before Rule 4.1.1A of the Schedule
Insert:
4.1.1AA CSC may take out a policy or policies with an insurance company or companies in its name to provide death and invalidity cover for former Commonwealth ordinary employer‑sponsored members. Death and invalidity cover is to be on the terms and conditions, including the circumstances, agreed between CSC and the relevant insurance company or companies.
Note: | CSC may take out death cover and invalidity cover in separate policies. |
25 Rule 4.1.2 of the Schedule
After “An ordinary employer‑sponsored member”, insert “(except a former Commonwealth ordinary employer‑sponsored member)”.
26 After Rule 4.1.2 of the Schedule
Insert:
4.1.2AA Subject to the SIS Act, CSC may offer death and invalidity cover to some or all former Commonwealth ordinary employer‑sponsored members, subject to the terms and conditions of the policy taken out under Rule 4.1.1AA, unless the insurance company does not provide cover in respect of the member under that policy.
27 Rule 4.1.2B of the Schedule
After “under Rule”, insert “4.1.2AA or”.
28 Rule 4.1.3 of the Schedule
Omit “or an application for approval of their invalidity retirement is made under Rule 3.3.1”, substitute “, an application for approval of the member’s invalidity retirement is made under Rule 3.3.1 or the member makes a benefit application under Rule 3.1.1(aa)”.
29 Rule 4.1.3A of the Schedule
Omit “PSSAP member or non‑member spouse”, substitute “person”.
30 Rule 4.1.3A of the Schedule
After “under Rule”, insert “4.1.2AA or”.
31 Rule 4.1.3A of the Schedule (note)
After “under Rule”, insert “4.1.2AA or”.
32 Rule 4.1.5 of the Schedule
Omit “and Rule 4.1.1A”, substitute “, 4.1.1AA or 4.1.1A”.
33 Rule 4.1.6 of the Schedule
After “in respect”, insert “of”.
34 Rule 4.3.1 of the Schedule
After “for ordinary employer‑sponsored members”, insert “(except former Commonwealth ordinary employer‑sponsored members)”.
35 After Rule 4.3.1 of the Schedule
Insert:
4.3.1AA CSC may take out a policy or policies with an insurance company or companies in its name to provide income protection cover for some or all former Commonwealth ordinary employer‑sponsored members. Income protection cover is to be on the terms and conditions, including the circumstances, agreed between CSC and the relevant insurance company or companies.
36 Rule 4.3.2 of the Schedule
After “ordinary employer‑sponsored members”, insert “(except former Commonwealth ordinary employer‑sponsored members)”.
37 After Rule 4.3.2 of the Schedule
Insert:
4.3.2AA Subject to the SIS Act, CSC may offer income protection cover to some or all former Commonwealth ordinary employer‑sponsored members, subject to the terms and conditions of the policy taken out under Rule 4.3.1AA, unless the insurance company does not provide cover in respect of the member under that policy.
38 Rule 4.3.2B of the Schedule
After “Rule”, insert “4.3.2AA or”.