South Australian Numbered Acts South Australian Numbered Acts7—Insertion of sections 7C, 7D, 7E and 7F
After section 7B insert:
7C—Arrangement of schemes
(1) The scheme of
superannuation established by this Act in relation to persons who first became
members of either House of Parliament of the State before the commencement of
the Parliamentary Superannuation (New Scheme) Amendment Act 1995 (disregarding
members who have transferred out of that scheme) will continue as PSS 1 .
(2) The scheme of
superannuation established by virtue of the enactment of the Parliamentary
Superannuation (New Scheme) Amendment Act 1995 will continue as PSS 2 .
(3) The scheme of
superannuation established by virtue of the enactment of the Parliamentary
Superannuation (Scheme for New Members) Amendment Act 2005 will be known as
PSS 3 .
7D—Membership of schemes
(1) In this
section—
"relevant date" means the date of the election held to determine membership of
the fifty-first Parliament of the State.
(2) Subject to this
section, a member who first became a member of either House of Parliament of
the State before the commencement of the Parliamentary Superannuation (New
Scheme) Amendment Act 1995 (other than a member who transferred to PSS 2
by virtue of an election of the kind referred to in subsection (3)(b))
will be a member of PSS 1.
(3) Subject to this
section, a member—
(a) who
first became a member of either House of Parliament of the State on or after
the commencement of the Parliamentary Superannuation (New Scheme) Amendment
Act 1995 and before the relevant date; or
(b) who
has made an election in accordance with section 35A of this Act (as enacted by
the Parliamentary Superannuation (New Scheme) Amendment Act 1995 and as
repealed by the Parliamentary Superannuation (Scheme for New Members)
Amendment Act 2005 ),
will be a member of PSS 2.
(4) A member—
(a) who
first becomes a member of either House of Parliament of the State on or after
the relevant date; or
(b) who,
on or after the relevant date, again becomes a member of either House of
Parliament of the State after a break in membership of the Parliament
(disregarding for the purposes of this paragraph any case where a member's
term comes to an end on the dissolution of the House of which he or she is a
member or by virtue of a resignation or expires by the effluxion of time and
the member is then returned at the election that next follows that
dissolution, resignation or expiry, or any case where a member is returned at
a joint sitting in prescribed circumstances),
will be a member of PSS 3.
(5) For the purposes
of the cases described in subsection (4)(b)—
(a) a
member may be taken to be returned at an election even if the member, at the
relevant election, is returned as a member of the House that is the other
House to the House of which he or she was a member before the election; and
(b) a
member is returned at a joint sitting in prescribed circumstances if (and only
if) the member is a person who was a member of the Parliament (and a member of
PSS 1 or PSS 2) and who is then chosen under section 13 of the
Constitution Act 1934 to be a member of the Legislative Council within
3 months after the date of an election (for either House of Parliament)
so that his or her period of not being a member of Parliament does not exceed
6 months.
(6) Despite a
preceding subsection, if—
(a) a
PSS 1 or PSS 2 member stands for re-election but is not returned as having
been re-elected; and
(b) the
Court of Disputed Returns subsequently declares the member to have been duly
elected at that election or it declares the election void and the member is
elected at the subsequent by-election; and
(c) the
member, within 3 months—
(i)
after a declaration by the Court that the member has been
re-elected; or
(ii)
after re-election following a declaration by the Court
that the election was void,
or within such further period as the Board (in its absolute discretion)
allows, makes an election under subsection (7),
then the member may continue as a member of PSS 1 or PSS 2 (as the
case may be).
(7) An election under
this subsection—
(a) must
be made in writing in a manner determined by the Board; and
(b)
subject to any other determination of the Treasurer, must be accompanied by a
payment to the Treasurer of—
(i)
an amount equal to 11.5 per cent of the salary that was
lost by reason of the fact that the member was not returned as elected in the
first instance; and
(ii)
an amount equal to the amount (if any) paid to the member
pursuant to this Act (whether by way of a pension or a lump sum, or both, or
by way of a payment pursuant to Part 4 Division 3) following the
return made at the original election.
(8) For the purposes
of this Act, the period of service of a member who continues as a PSS 1
or PSS 2 member under subsection (6) will be taken to include—
(a)
previous service that the member was, at the termination of the member's
immediately preceding period of service, entitled to have counted as service
under this Act; and
(b) the
period during which the member was unable to take his or her seat in
Parliament by reason of not being returned as elected in the first instance.
(9) If the Treasurer
allows a further period to pay an amount under subsection (7), the
Treasurer may impose such conditions (including a condition requiring payment
of interest on any outstanding amount) as the Treasurer thinks fit, and the
member will not be regarded as having complied with that subsection unless the
member complies with those conditions.
(10) The Treasurer may
vary or revoke a condition under subsection (9).
(11) If—
(a) a
PSS 3 member stands for re-election but is not returned as having been
re-elected; and
(b) the
Court of Disputed Returns subsequently declares the member to have been duly
elected at that election or it declares the election void and the member is
elected at the subsequent by-election,
then the member must, in accordance with a determination of the Board, pay to
the Treasurer—
(c) an
amount equal to the contributions that the member would have paid under
Part 3 Division 3 assuming that the member had been returned in the
first instance and been liable to make contributions at the rate that applied
to the member immediately before the original election; and
(d) an
amount equal to the amount (if any) paid to the member pursuant to this Act
following the return made at the original election.
(12) When a member
makes a payment under subsection (11)(c), the Treasurer must pay into the
PSS 3-Government Contributions Division of the Fund, and the Board must
credit to the member's Government contribution account, an amount equal to the
amount that would have been payable under Part 3 Division 4 assuming
that the member had been returned in the first instance and applying such
other assumptions as the Board, with the agreement of the Treasurer,
determines.
(13) The fact that a
former PSS 1 or former PSS 2 member who returns to Parliament then
becomes a PSS 3 member under this section does not prejudice any
entitlement that he or she may have under this Act with respect to his or her
former membership of PSS 1 or PSS 2 before the break in membership
of the Parliament.
7E—PSS 3 member may elect to participate in other schemes
(1) In this
section—
"eligible member" means a PSS 3 member, other than a person who is a member of
PSS 3 by virtue of section 7D(4)(b) or 7F;
"fund" includes a scheme or account;
"prescribed period", in relation to an eligible member, means the period of
3 months from the date on which the person became a PSS 3 member;
"RSA" has the same meaning as in the Retirement Savings Accounts Act 1997 of
the Commonwealth;
"self managed superannuation fund" has the same meaning as in the
Superannuation Industry (Supervision) Act 1993 of the Commonwealth;
"specified fund" means a fund specified in a notice under
subsection (4)(a) or (10)(a).
(2) An eligible member
may, by notice in writing furnished to the Board during the prescribed period,
elect to transfer his or her superannuation arrangements under this Act to a
fund that complies with subsection (3).
(3) A fund (a
"complying fund") complies with this subsection if it is—
(a) a
complying superannuation fund, other than a self managed superannuation fund;
or
(b) an
RSA.
(4) A notice under
subsection (2) must—
(a)
specify the name of, and contact details for, the relevant fund; and
(b)
specify the date from which the election is to take effect, being a
date—
(i)
that is at least 14 days but not more than 2 months
from the date on which the notice is furnished to the Board; and
(ii)
that coincides with a date on which salary is due to be
paid to the member; and
(c) be
accompanied by evidence that the fund will accept contributions under this
section; and
(d)
contain or be accompanied by such other information (if any) as may be
required by the Board.
(5) If a person makes
an election under subsection (2)—
(a) the
person will cease to be a member of PSS 3; and
(b) the
Board will cease to maintain (or, if relevant, will not be required to
establish) an account in the name of the person under this Act (and
Part 2B will cease to apply in relation to the person); and
(c) any
amount standing to the credit of the person's contribution account or
Government contribution account (if any) must be carried over to the
specified fund; and
(d) the
person will cease to be liable to make contributions under this Act; and
(e) no
entitlement or benefit will be payable to the person, or to any other person
in respect of the person, under this Act (other than as provided by
paragraph (f)); and
(f) the
Treasurer must, while the person is a member of either House of Parliament,
make contributions to the specified fund for that person's benefit, in
accordance with subsection (6).
(6) For the purposes
of subsection (5)(f), the contributions must be made in accordance with
the Superannuation Guarantee (Administration) Act 1992 of the Commonwealth as
if the person were an employee of the State (see section 12(5) of that
Act) and in order to avoid having an individual superannuation guarantee
shortfall in respect of the person within the meaning of that Act.
(7) An eligible member
cannot make an election under this section if the Board has been served with a
splitting instrument within the meaning of Part 4A in respect of the member's
superannuation interest under this Act.
(8) An election under
subsection (2) is irrevocable.
(9) However, a person
may, by notice in writing furnished to the Board, vary an election under this
section so as to select another complying fund for the purposes of this
section.
(10) A notice under
subsection (9) must—
(a)
specify the name of, and contact details for, the new fund; and
(b) be
accompanied by evidence that the new fund will accept contributions under this
section; and
(c)
contain or be accompanied by such other information (if any) as may be
required by the Board.
(11) A notice under
subsection (9) will take effect on a date determined by the Board after
consultation with the person who has furnished the notice.
(12) A person who
makes an election under this section does not become, by virtue of any
liability under this section, a member of the Southern State Superannuation
Scheme.
(13) There can only be
1 fund that applies in relation to a member under this section at any
particular time.
(14) If—
(a) a
person makes an election under this section; and
(b) the
specified fund applying for the purposes of the election—
(i)
ceases to exist; or
(ii)
ceases to accept contributions under this section; or
(iii)
ceases to be a complying fund; and
(c) the
person does not, within the prescribed period, vary the election to specify
another complying fund for the purposes of this section,
then the Treasurer may, after consultation with the Board, specify another
complying fund (which will then be taken to be a fund specified by the person
for the purposes of this section).
7F—Special provisions relating to rollovers for PSS 1 and
PSS 2 members
(1) The Board must, on
application under this section, permit—
(a) a
PSS 1 or PSS 2 member for whom an amount of money may be carried
over from another superannuation fund or scheme; or
(b) a
former PSS 2 member who has a lump sum preserved under Part 4,
to become a PSS 3 member in order to establish a rollover account for the
person under this Act.
(2) The following
provisions apply in connection with the operation of subsection (1):
(a) in
the case of a former PSS 2 member under subsection (1)(b)—the
preserved lump sum amount will, when paid into the rollover account, be taken
to be a rollover component under Part 4 Division 2A (and will cease
to be a preserved amount under another Division of Part 4);
(b) Part
3 Divisions 3 and 4 will not apply to a person who is a PSS 3 member
by virtue of this section;
(c) a
person who is a PSS 3 member by virtue of this section will not be
entitled to any of the following under Part 4 Division 2A:
(i)
a Government-funded component of benefits;
(ii)
a member-funded component of benefits;
(iii)
an invalidity/death insurance benefit;
(d) the
Governor may, by regulation, make any other provision as the Governor thinks
fit, including by providing that other provisions of this Act do not apply to
a person who is a PSS 3 member by virtue of this section, or apply to
such a member subject to any modifications prescribed by the regulations.