South Australian Numbered Acts South Australian Numbered ActsSchedule 1—Transitional provisions
1—Member contributions— Parliamentary Superannuation Act 1974
(1) If a member of Parliament was, immediately before the commencement of section 13, making contributions to the Treasurer at a rate of 4.5% of salary on the basis of an election made by the member under section 14B(1) or (2) of the Parliamentary Superannuation Act 1974 —
(a) the member will be taken to have made an election under section 14B(2) of that Act, on the day of that commencement, to vary the rate of contribution to 4% of salary; and
(b) the variation will operate on and from the first day of the month following the month in which that commencement occurs.
(2) In this clause—
salary , in relation to a member, means the combined value of the basic and additional salary (if any) payable to the member.
2—Increased Government contribution— Parliamentary Superannuation Act 1974
(1) Within 14 days after the relevant day—
(a) the Treasurer must pay the relevant amount into the PSS 3—Government Contributions Division of the Parliamentary Superannuation Fund; and
(b) a PSS 3 member's Government contribution account must be credited with an amount equivalent to the component of the relevant amount attributable to the salary paid to the member in the relevant period.
(2) No interest is to be taken to have accrued in relation to an amount referred to in subclause (1) before the day on which the relevant amount is paid into the PSS 3—Government Contributions Division of the Parliamentary Superannuation Fund.
(3) For the purposes of determining the amount payable by the Treasurer under the Parliamentary Superannuation Act 1974 in respect of a prescribed PSS 3 member following the election for the Parliament of this State that took place on 20 March 2010, section 14C of the Parliamentary Superannuation Act 1974 is to be taken to have operated as if it had not been amended by section 14(1) and (2) of this Act.
(4) In this clause—
prescribed PSS 3 member means a PSS 3 member who sought to be, but was not, elected at the election for the Parliament of this State that took place on 20 March 2010;
PSS 3 means the scheme of superannuation known as PSS 3 under the Parliamentary Superannuation Act 1974 ;
PSS 3 member means a member of PSS 3 under the Parliamentary Superannuation Act 1974 , other than a person who is only a member of PSS 3 in order to establish—
(a) a rollover account under section 7F of that Act; or
(b) a Government contribution account under section 7G of that Act,
(or both);
relevant amount means the amount of the difference between—
(a) the amount paid by the Treasurer into the PSS 3—Government Contributions Division of the Parliamentary Superannuation Fund under section 14C of the Parliamentary Superannuation Act 1974 in respect of the relevant period before the relevant day; and
(b) the total amount payable by the Treasurer into the PSS 3—Government Contributions Division of the Parliamentary Superannuation Fund under section 14C of the Parliamentary Superannuation Act 1974 in respect of the relevant period as a consequence of the amendments to that section made by section 14(1) and (2) of this Act;
relevant day means the last day of the month in which this Act is assented to by the Governor;
relevant period means the period commencing on 20 March 2010 and ending on the relevant day;
salary means basic salary and additional salary (if any) (within the meaning of the Parliamentary Superannuation Act 1974 ).