AustLII Tasmanian Numbered Regulations

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RETIREMENT BENEFITS (PARLIAMENTARY SUPERANNUATION) REGULATIONS 2012 (S.R. 2012, NO. 119) - REG 11

Payments by Minister into PS Fund

(1)  The Minister must pay to the PS Fund a contribution comprising an amount equal to –
(a) in respect of a person who, immediately before 12 November 1985, was in receipt of, or entitled to receive, a pension under the 1973 Act, one-half, or such other proportion as the Actuary may recommend, of each payment by way of pension or other benefit made out of the PS Fund to that person after 1 August 1986; and
(b) in respect of a person who, immediately before 12 November 1985, was in receipt of, or entitled to receive, a pension under the 1973 Act and who elected to commute that pension to a lump sum payment, one-half, or such other proportion as the Actuary may recommend, of the lump sum paid to that person; and
(c) in respect of a person who, on or after 12 November 1985, became entitled to receive a pension under these regulations, five-sevenths, or such other proportion as the Actuary may recommend, of each payment by way of pension or other benefit made to that person; and
(d) in respect of a person who, on or after 12 November 1985, became or becomes entitled to receive a pension under the 1973 Act or this Part and who elected or elects to commute that pension to a lump sum payment, five-sevenths, or such other proportion as the Actuary may recommend, of the lump sum payment to that person; and
(e) in respect of a benefit paid under regulation 20(6) , the whole of the benefit.
(2)  The Minister must pay into the PS Fund such additional amount as the Actuary may recommend from time to time, or such other amount as the Minister may from time to time determine, to enable the PS Fund to meet its liabilities under this Part.
(3)  Payments required to be paid into the PS Fund by the Minister under this regulation must be paid within such period as the Minister and the Board may agree.


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