(1)  Except as provided in regulations 30 , 34 and 60 , an employee under the age of 70 years who –

(a) is an existing contributor; or

(b) is an amalgamated contributor; or

(c) became a permanent employee on or after 1 July 1994 and before 15 May 1999; or

(d) has elected to contribute to the contributory scheme under –

(i) the Public Sector Superannuation Reform Act 1999 ; or

(ii) the former regulations; or

(iii) regulation 29 of these regulations –

must contribute to the contributory scheme until attaining the age of 70 years.

(2)  A contributor who has entered into an agreement with his or her employing Agency to have salary sacrifice contributions paid to the Fund on his or her behalf –

(a) is, while the agreement is in force, taken to have satisfied any requirement under this Part to make contributions to the contributory scheme; and

(b) may not make member contributions during any period when the salary sacrifice contributions are being paid to the Fund.

(3)  A person who, immediately before the commencement day, was a contributor must continue to contribute at his or her commensurate rate of contribution unless he or she elects in writing to the Board to contribute under this regulation at another rate of contribution.

(4)  A person who becomes a contributor under these regulations must contribute at the rate provided in regulation 36(3) unless he or she elects in writing to the Board to contribute under this regulation at a higher rate of contribution.

(5)  A person who makes an election under subregulation (3) or (4) must specify in that election his or her rate of contribution, which is to be a rate consisting of multiples of 1% of salary, with the minimum rate of contribution being 5% of salary and the maximum rate of contribution being 15% of salary.

(6)  If, under subregulation (3) or (4) , a contributor elects to increase the rate of contributions retrospectively, he or she must, subject to subregulation (10) , enter into an arrangement with the Board for the payment of an amount calculated in accordance with the following formula:

where –

A is the amount to be paid to the Fund by the contributor;

B is the full-time equivalent average annual salary received by the contributor in respect of the year immediately preceding the date of the upgrade calculation;

PBMF is the purchased benefit multiple factor calculated by multiplying the period or periods of the contributor's past full-time equivalent service by the appropriate benefit multiple factor as provided in regulation 44(1) for each of those periods;

C is the percentage, as determined by the Actuary, applicable to the contributor, having regard to –

(a) his or her age when he or she enters into the arrangement; and

(b) the period remaining until he or she attains the age of 65 years; and

(c) all other relevant factors –

which percentage is to be the actuarial equivalent of the additional total benefit that will be derived under these regulations if the contributor purchases the service and pays the amount calculated in accordance with this subregulation.

(7)  The amount calculated under subregulation (6) may not be paid as salary sacrifice contributions.

(8)  A contributor may not elect to pay contributions retrospectively at a rate exceeding 11% of salary.

(9)  On receipt of the amount calculated under subregulation (6) , the Board is to –

(a) credit to the contributor's account established under regulation 42 so much of that amount as represents the arrears of the contributions and interest that accrued on and after 1 April 1987 on those arrears; and

(b) retain the balance in the contributory scheme.

(10)  Before accepting an election by a contributor under this regulation, the Board may direct that the contributor –

(a) undergo any reasonable medical examination by a legally qualified medical practitioner; and

(b) provide the Board with a report of that examination to the satisfaction of the Board that the contributor is not affected by any physical or mental defect likely to render him or her incapable of performing his or her duties before attaining the age of 60 years.

(11)  An amount required to be paid under an arrangement under subregulation (6) is to be paid in a lump sum or in any manner that the Board determines but not later than 12 months after the contributor enters into the arrangement.

(12)  Where a contributor pays to the Board the amount required under an arrangement referred to in subregulation (6) , his or her benefit is to be calculated as if he or she had, in respect of the period for which the arrangement had been made, at all times during his or her service contributed at the higher rate of contribution.

(13)  If a contributor does not pay to the Board the amount required under an arrangement referred to in subregulation (6) , he or she is taken to have commenced to contribute to the Fund at the higher rate of contribution on the day that the Board determines.

(14)  A contributor who has made an election to pay contributions above the basic contribution rate may, by notice in writing to the Board, elect to revoke or vary that election.

(15)  If a contributor has revoked his or her election to pay additional contributions above the basic contribution rate, the Board may refund –

(a) the part of the balance of the contributor's account under regulation 42 as at 30 June 1999 which relates to those additional contributions together with interest accrued as at that date, if the Board is satisfied that the contributor would suffer financial hardship on failure to make that refund; and

(b) the total of all excess contributions paid above that rate after 30 June 1999 together with interest accrued after that date, but only where regulated superannuation funds are permitted under the SIS Act to make such a payment in similar circumstances.

(16)  On payment of a refund of additional contributions under subregulation (15) , the contributor is taken to have contributed at the basic contribution rate during the period of service to which the refund of those additional contributions relates.