AustLII Tasmanian Numbered Regulations

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RETIREMENT BENEFITS REGULATIONS 2005 (S.R. 2005, NO. 77) - REG 34

Commencement and cessation of contributions

(1)  The contributions of a permanent employee are to commence on the day on which he or she is appointed to the office or position by virtue of which he or she is an employee.
(2)  The contributions of a person to whom regulation 29 refers commence on the commencement of the first full pay period occurring after the election under that regulation is received by the Board.
(3)  Except as provided in subregulations (4) and (5) , contributions cease to be payable on the day on which –
(a) a contributor ceases to be an employee; or
(b) a contributor ceases permanent employment and immediately commences work as a casual employee or work that is casual in nature; or
(c) a contributor ceases temporary employment or employment which is temporary in nature and immediately commences work as a casual employee or work that is casual in nature; or
(d) a contributor attains the age of 70 years; or
(e) a contributor who has attained the age of 65 years and who, having regard to his or her level of employment, would not in similar circumstances be permitted under the SIS Act to contribute to a regulated superannuation fund.
(4)  The contributions of a permanent employee who contributes to the Fund as an amalgamated contributor cease to be payable –
(a) with respect to the part of the employee's contributions that is applicable to his or her superannuation units as if section 18 of the Superannuation Act 1938 was still in force; and
(b) with respect to the part of the employee's contributions that is payable after the commencement day, on the day on which he or she ceases, for any reason, to be an employee or on the day on which he or she attains the age of 70 years, whichever is the earlier.
(5)  A person who has attained the age of 65 years and who remains an employee may, by notice in writing to the Board, elect not to continue to contribute to the contributory scheme.
(6)  For the purposes of subregulation (5) , contributions cease to be payable on the commencement of the first full pay period after the election is received by the Board.
(7)  Where contributions cease to be payable by a contributor as mentioned in subregulation (3)(b) or (c) , the contributor, subject to regulation 54  –
(a) is entitled to an amount equal to a lump sum benefit calculated under regulation 47 , 52 or 53 , as may be applicable; and
(b) is to be admitted as a member of the accumulation scheme, unless he or she becomes a member of a complying superannuation scheme other than the accumulation scheme.



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