Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (PSS) MEMBERSHIP INCLUSION DECLARATION NO. 2 1991 NO. 253

STATUTORY RULES 1991 No. 253

ISSUED BY AUTHORITY OF THE MINISTER FOR FINANCE

SUPERANNUATION ACT 1990

DECLARATION UNDER PARAGRAPH 6(1)(j)

The Public Sector Superannuation scheme (PSS) was established under the Superannuation Act 1990 (the Act) from 1 July 1990.

The Australian Securities Commission (ASC) commenced operations on 1 January 1991. Its staff includes persons transferred from the Corporate Affairs Commissions of the Northern Territory and the States.

The majority of transferred staff are now Commonwealth public servants employed under the provisions of the Public Service Act 1922 as either officers or employees. Some are employed by the ASC on contract.

Temporary employees under the Public Service Act 1922 of the Commonwealth have a number of superannuation options available. The Commonwealth agreed that:

(a)       transferees could remain members of the State scheme; or

(b)       transferees could cease membership of the State scheme and immediately thereafter join the PSS; or

(c)       transferees who previously elected not to be members of a State scheme, or who were covered by personal superannuation arrangements permitted under a State scheme, could continue with these arrangements after transfer.

Section 6 of the Act specifies the persons who may become members of the PSS. In accordance with paragraph 6(1)(j), a person declared by the Minister for Finance to be a person to whom section 6 applies is to be a member of the PSS.

The Declaration contained in the Statutory Rule and cited as "Superannuation (PSS) Membership Inclusion Declaration No. 2" specifies the rights of PSS membership for temporary employees who are staff of the ASC and of Regional Commissioners employed under contract by the ASC.

Paragraph 4(a) of the declaration provides the right of election to become members of the PSS to staff of the ASC who are temporary employees appointed under the Public Service Act 1922 and who were members of a State or Territory superannuation scheme immediately prior to appointment.

Paragraph 4(b) of the declaration provides a similar immediate right of PSS membership to Regional Commissioners of the ASC who were previously State employees and who elect to become members of the PSS.

In accordance with section 45 of the Act, a declaration under paragraph 6(1)(j) is to be a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903.

It is intended that the superannuation options should be available to ASC staff from the start of employment with the ASC. Accordingly, the Declaration operates with effect from 1 January 1991.

The declaration ensures that the superannuation options agreed with the States are available to former State employees who have taken up positions with the ASC.