South Australian Numbered Acts

SOUTHERN STATE SUPERANNUATION (INSURANCE, SPOUSE ACCOUNTS AND OTHER MEASURES) AMENDMENT ACT 2006 (NO 40 OF 2006) - SECT 19

19—Amendment of section 27—Employer contribution accounts

        (1)         Section 27(7)(b)—delete "additional" and substitute:

voluntary

        (2)         Section 27(7)(c)—delete paragraph (c) and substitute:

            (c)         a disability pension premium which, subject to subsection (9), will be an amount fixed by the Board.

        (3)         Section 27(7a)—delete subsection (7a) and substitute:

        (7a)         The following amounts must be debited against the employer contribution accounts of persons who have elected to become members of the Triple S scheme under section 15B:

            (a)         an administrative charge to be fixed by the Board (different charges may be fixed depending on the balance of members' accounts or any other relevant factor);

            (b)         the amount of the premium fixed by or under the regulations in respect of the voluntary invalidity/death insurance (if any) for each member.

        (4)         Section 27(9)—delete subsection (9) and substitute:

        (9)         A disability pension premium is not payable under subsection (7)(c) in relation to—

            (a)         a member who is not entitled to a disability pension under section 33A under any circumstances; and

            (b)         a member who is exempted under section 33A(15) from the ambit of section 33A.