SCHEDULE 4 - Transferred TCAE Employees

Regulation 107(10)

1.    Interpretation

In this Schedule –

transferred TCAE employee means a person who –

(a) was on 1 January 1981 transferred from employment by the Council of the Tasmanian College of Advanced Education to employment by the Council of the University of Tasmania; and

(b) immediately before that date was a contributor for full benefits or a contributor for limited benefits within the meaning of the Retirement Benefits Act 1970 or Part VB of the Superannuation Act 1938 ;

University Council means the Council of the University of Tasmania established under the University of Tasmania Act 1992 .

2.    Liability of University Council

(1) If a transferred TCAE employee becomes, or has become, entitled to a pension, benefit or other payment under these regulations or the former regulations –

(a) the University Council is to pay to the Board the proportion of the pension, benefit or other amount calculated in accordance with the formula set out in subclause (2) ; and

(b) the Minister is to pay to the Board the balance of that entitlement.

(2) The liability of the University Council is to be determined by the following formula:

where –

L is the liability of the University Council;

S is the total period of service as an employee of the University Council;

C is the total period during which the employee was a member of the contributory scheme;

PA is the total amount of pension, benefit or other payment that would be payable under these regulations;

PF is the amount of pension, benefit or other payment that is chargeable to the Fund.

(3) If a pension, benefit or other payment is payable under these regulations –

(a) regulation 107 has effect in respect of that pension, benefit or other payment as if the University of Tasmania were a prescribed authority; and

(b) that pension, benefit or other payment is payable by the University Council out of money available to that Council for the purposes of the University of Tasmania Act 1992 .

3.    Liability of University Council unaffected in certain cases

The following Acts do not affect the liability of the University Council to pay the proportion of benefits for a transferred TCAE employee who, before 1 July 1994, ceased to be such an employee if, immediately before that date, the University Council was paying to the Board a proportion of that part of the pension, benefit or other payment previously calculated under any of those Acts:

(a) the Retirement Benefits (Transferred Tasmanian College of Advanced Education Employees) Act 1980 ;

(b) the Superannuation (Transferred Tasmanian College of Advanced Education Employees) Act 1980 ;

(c) the Retirement Benefits Act 1993 .