Tasmanian Numbered Regulations

RETIREMENT BENEFITS REGULATIONS 2005 (S.R. 2005, NO. 77) - (S.R. 2005, NO. 77)

TABLE OF PROVISIONS

           Long Title

   PART 1 - Preliminary

   1.      Short title
   2.      Commencement
   3.      Interpretation
   4.      Determination of preservation age
   5.      Application of regulations
   6.      Non-application of regulations

   PART 2 - Application of Commonwealth Laws and Principles

   7.      Application of Commonwealth superannuation principles
   8.      Reduction or withholding of benefits

   PART 3 - Administration

   9.      Constitution, membership and meetings of Board
   10.     Functions and powers of Board
   11.     Power of Board to engage persons and officers
   12.     Appointment of Chief Executive Officer
   13.     Conditions of appointment of CEO
   14.     Functions and duties of CEO
   15.     Termination of appointment of CEO
   16.     Corporate plan
   17.     Consultation with Minister
   18.     Statement of corporate intent
   19.     Annual reports of Board
   20.     Appointment of Actuary

   PART 4 - Retirement Benefits Fund

   21.     Operation of Fund
   22.     Investment of Fund
   23.     Actuarial investigations of Fund
   24.     Power of Board to borrow
   25.     Minister's guarantee
   26.     Accounts and records

   PART 5 - Membership, Contributions and Benefits of Contributory Scheme

           Division 1 - Preliminary

   27.     Application of Part 5
   28.     Calculation of salary sacrifice contributions

           Division 2 - Membership

   29.     Persons who may elect to join contributory scheme
   30.     Exemption from contributing
   31.     Purchase of certain periods of service
   32.     Recognition of service prior to commencement day

           Division 3 - Contributions

   33.     Obligation of certain employees to contribute
   34.     Commencement and cessation of contributions
   35.     Time and manner of paying contributions
   36.     Rates of contributions and related matters
   37.     Leave and compulsory superannuation contributions at contributor cost
   38.     Leave and optional superannuation contributions at contributor cost
   39.     Leave and optional superannuation contributions at full actuarial cost
   40.     Leave without pay for amalgamated contributors
   41.     Interest and contributions paid for taxation
   42.     Contributors' accounts
   43.     Deductions against contributors' accounts for death and disability cover

           Division 4 - Lump sum benefits

   44.     Interpretation of Division 4
   45.     Calculation of prospective service for contributors employed otherwise than full-time
   46.     Adjustment of service and salary for contributors employed otherwise than full-time
   47.     Benefit on early retirement of contributors
   48.     Benefit on redundancy or compulsory retirement
   49.     Savings for entitlements of certain contributors under Retirement Benefits Act 1982
   50.     Benefit for full benefits contributors on death or retirement due to total and permanent incapacity
   51.     Benefit for limited benefits contributors on death or retirement due to total and permanent incapacity
   52.     Benefit payable on resignation or dismissal of contributors
   53.     Benefit payable on death or retirement after retirement age
   54.     Preservation of contributions
   55.     Minimum benefit for 2.5% contributors and amalgamated contributors
   56.     Supplemental lump sum benefit payable in certain cases

           Division 5 - Interim pensions

   57.     Interim invalidity pensions
   58.     Interim pensions for surviving partners

           Division 6 - Prescribed arrangements

   59.     Declaration of prescribed arrangement
   60.     Application of prescribed arrangements to contributors

   PART 6 - Powers and Duties of Board

           Division 1 - Investment accounts

   61.     Member investment options
   62.     Establishment of investment accounts
   63.     Payment of voluntary contributions and spouse contributions into investment account
   64.     Payment of additional employer contributions to investment account
   65.     Inward portability
   66.     Additional death and permanent incapacity cover

           Division 2 - Compulsory preservation accounts and allocated pension accounts

   67.     Establishment of compulsory preservation accounts
   68.     Allocated pension accounts
   69.     Deductions allowed against investment accounts and allocated pension accounts

           Division 3 - Payment of benefits

   70.     Time and manner of benefit payments
   71.     Release of preserved benefits
   72.     Early release of benefits
   73.     Payment where beneficiary incapable
   74.     Payment where beneficiary bankrupt
   75.     Unclaimed benefits

           Division 4 - Overdue contributions and overpayment of pensions

   76.     Recovery of overdue contributions and payments
   77.     Overpayment of pensions or benefits

           Division 5 - Invalidity of contributors

   78.     Question of invalidity to be determined by Board

   PART 7 - Pensions

   79.     Conversion of lump sum benefits to pensions
   80.     Pension conversion factors
   81.     Pensions payable to surviving partners
   82.     Half-yearly adjustments to pensions
   83.     Duration of pensions
   84.     Time and manner of payment of pensions
   85.     Reduction or suspension of invalidity pensions in certain cases
   86.     Right of certain pensioners to commute pensions to lump sum
   87.     Amounts of pensions to be rounded off

   PART 8 - Taxation, Preservation and Payment of Lump Sum and Pension Benefit Entitlements

   88.     Calculation of notional contributions surcharge amounts
   89.     Provision of information
   90.     When benefit entitlements become payable
   91.     Benefit entitlements subject to taxation
   92.     Provision of certain information by Board
   93.     Establishment of surchargeable contributions debt account
   94.     Right of members to pay into surchargeable contributions debt accounts
   95.     Reduction of benefit entitlements

   PART 9 - Family Law (Splitting of Superannuation Interests)

   96.     Interpretation of Part 9
   97.     Application of Part 9
   98.     Objects of Part 9
   99.     Duty of Board to give effect to splitting instruments under Family Law Act
   100.    Accounts for non-member spouse
   101.    Commutation of pension on death of non-member spouses
   102.    Effect of benefit under splitting instruments
   103.    Fees for administration of Part 9
   104.    Provision of information by Board

   PART 10 - Financial

   105.    Cost of administration
   106.    Determination of employer component of benefits
   107.    Payments to Fund by Minister and prescribed authorities
   108.    Payments to Fund in respect of benefits reduced under Part 8
   109.    Provision for certain State authorities
   110.    Provision for payments by the State
   111.    Apportionment of employer liability
   112.    Fixing of interest rates
   113.    Income distributions for investment options

   PART 11 - Discretionary Powers of Board

           Division 1 - Reduction in salary

   114.    Interpretation of Division 1
   115.    Reduction in salary of certain contributors
   116.    Reduction in salary of amalgamated contributors

           Division 2 - Miscellaneous powers of Board

   117.    Determination of questions arising under regulations
   118.    Power of Board to determine invalidity
   119.    Broken service
   120.    Medical examinations for entitlement to full benefits
   121.    Medical examinations for invalidity pensioners
   122.    False and misleading information
   123.    Power of Board to reinstate lost rights
   124.    Power of Board to grant pensions or lump sums not in accordance with regulations

   PART 12 - Review of Board's Decisions

   125.    Board not subject to direction
   126.    Statutory hearing
   127.    Right to apply to Supreme Court for declaration as to validity
   128.    Appeal against decisions, determinations or orders of Board

   PART 13 - Miscellaneous and Supplemental

   129.    Pensions and benefits not assignable
   130.    Payment of benefits on death of RBF member
   131.    Duties of responsible officers and Board to provide information
   132.    Contributors seconded to Commonwealth, another State, a Territory or private sector
   133.    Pensions and benefits not office of profit under Crown
   134.    Proof of service of notices and documents
   135.    Applications for pensions and lump sum payments
   136.    Power of Board to seek further information
   137.    Power of Board to withhold payment of benefits
   138.    Savings and transitional provisions
   139.    Statutory Rules rescinded
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