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Queensland
SUPERANNUATION
LEGISLATION
AMENDMENT BILL (No. 2)
1995
Queensland
SUPERANNUATION LEGISLATION
AMENDMENT BILL (No. 2) 1995
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
PART 2--AMENDMENT OF PARLIAMENTARY
CONTRIBUTORY SUPERANNUATION ACT 1970
2 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
3 Insertion of new pt 3A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
PART 3A--ELECTIONS TO SURRENDER POTENTIAL
WIDOWS' ENTITLEMENTS OF FORMER MEMBERS AND
MARRIED WIDOWS' ENTITLEMENTS
25C Definitions for pt 3A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
25D Election to surrender potential widow's entitlement . . . . . . . . . . . . . 8
25E Election to surrender married widow's entitlement . . . . . . . . . . . . . . 8
25F Making of election to surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
25G Effect of surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
25H Application of Acts Interpretation Act 1954, s 20A, to part . . . . . . . 10
25I Expiry of division . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
PART 3--AMENDMENT OF POLICE SUPERANNUATION ACT
1968
4 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
5 Amendment of s 4 (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
6 Insertion of new pt 4, div 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Division 7--Elections to surrender potential widows' entitlements
of pre-1984 members and married widows' entitlements
56 Definitions for div 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
56A Election to surrender potential widow's entitlement . . . . . . . . . . . . . 12
2
Superannuation Legislation Amendment
(No. 2)
56B Election to surrender married widow's entitlement . . . . . . . . . . . . . . 12
56C Making of election to surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
56D Effect of surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
56E Application of Acts Interpretation Act 1954, s 20A, to division . . . 14
56F Expiry of division . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
PART 4--AMENDMENT OF POLICE SUPERANNUATION ACT
1974
7 Act amended in pt 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
8 Insertion of new pt 4, div 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Division 8--Elections to surrender potential relicts' entitlements
of pre-1984 members and married relicts' entitlements
47 Definitions for div 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
47A Election to surrender potential relict's entitlement . . . . . . . . . . . . . . 16
47B Election to surrender married relict's entitlement . . . . . . . . . . . . . . . 16
47C Making of election to surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
47D Effect of surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
47E Application of Acts Interpretation Act 1954, s 20A, to division . . . 17
47F Expiry of division . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
PART 5--AMENDMENT OF PUBLIC SERVICE
SUPERANNUATION ACT 1958
9 Act amended in pt 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
10 Insertion of new pt 4, div 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Division 7--Elections to surrender potential widows' entitlements
of pre-1984 members and married widows' entitlements
48 Definitions in div 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
48A Election to surrender potential widow's entitlement . . . . . . . . . . . . . 19
48B Election to surrender married widow's entitlement . . . . . . . . . . . . . . 20
48C Making of election to surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
48D Effect of surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
48E Application of Acts Interpretation Act 1954, s 20A, to division . . . 21
48F Expiry of division . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
PART 6--AMENDMENT OF STATE SERVICE
SUPERANNUATION ACT 1972
3
Superannuation Legislation Amendment
(No. 2)
11 Act amended in pt 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
12 Insertion of new pt 4, div 7A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Division 7A--Elections to surrender potential relicts' entitlements
of pre-1984 members and married relicts' entitlements
48A Definitions for div 7A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
48B Election to surrender potential relict's entitlement . . . . . . . . . . . . . . 23
48C Election to surrender married relict's entitlement . . . . . . . . . . . . . . . 24
48D Making of election to surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
48E Effect of surrender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
48F Application of Acts Interpretation Act 1954, s 20A, to division . . . 25
48G Expiry of division . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
1995
A BILL
FOR
An Act to amend certain Acts about superannuation
s1 6 s3
Superannuation Legislation Amendment
(No. 2)
The Parliament of Queensland enacts-- 1
PART 1--PRELIMINARY 2
title 3
Short
Clause 1. This Act may be cited as the Superannuation Legislation Amendment 4
Act (No. 2) 1995. 5
PART 2--AMENDMENT OF PARLIAMENTARY 6
CONTRIBUTORY SUPERANNUATION ACT 1970 7
amended in pt 2 8
Act
Clause 2. This part amends the Parliamentary Contributory Superannuation Act 9
1970. 10
of new pt 3A 11
Insertion
Clause 3. After section 25B-- 12
insert-- 13
`PART 3A--ELECTIONS TO SURRENDER 14
POTENTIAL WIDOWS' ENTITLEMENTS OF 15
FORMER MEMBERS AND MARRIED WIDOWS' 16
ENTITLEMENTS 17
for pt 3A 18
`Definitions
`25C. In this part-- 19
"1984 Act" means the Superannuation Acts Amendment Act 1984. 20
s3 7 s3
Superannuation Legislation Amendment
(No. 2)
"election day", for a former member or married widow, means the day the 1
member or widow makes an election to surrender. 2
"election to surrender" means an election to surrender-- 3
(a) a potential widow's entitlement under section 25D;1 or 4
(b) a married widow's entitlement under section 25E.2 5
"former member" means a person-- 6
(a) who ceased to be a member before 23 October 1983; and 7
(b) whose pension entitlement under this Act, or part of it, was 8
converted into a lump sum payment on an election made by the 9
member under section 18.3 10
"lump sum percentage", for a former member, means the percentage of 11
the member's entitlement the member received as a lump sum. 12
"married widow" means a person-- 13
(a) who-- 14
(i) is the widow of a member who died before 23 October 15
1983; or 16
(ii) became the widow of a former member before the passing 17
of the 1984 Act; and 18
(b) whose pension under this Act had ceased before the passing of 19
the 1984 Act because the widow remarried after becoming the 20
member's widow; and 21
(c) who, before the commencement of this section, had not again 22
become entitled to an annual pension under section 20C(1).4 23
"married widow's entitlement", for a married widow, means the annual 24
pension the widow would be entitled to under section 20C(1) if that 25
subsection were to apply to the widow on the election day. 26
1 Section 25D (Election to surrender potential widow's entitlement)
2 Section 25E (Election to surrender married widow's entitlement)
3 Section 18 (Right to convert entitlement to lump sum entitlement)
4 Section 20C (Provisions applicable to widow's pension)
s3 8 s3
Superannuation Legislation Amendment
(No. 2)
"potential widow", of a former member, means the person who, on the 1
member's death, would become entitled to a benefit under this Act as 2
the member's widow or widower. 3
"potential widow's entitlement", for a former member's potential 4
widow, means the member's lump sum percentage of the annual 5
pension the potential widow would be entitled to under this Act if the 6
member were to die on the election day. 7
to surrender potential widow's entitlement 8
`Election
`25D.(1) A former member may elect to surrender the potential widow's 9
entitlement of the member's potential widow. 10
`(2) To remove doubt, it is declared that the election may be made only if 11
the former member and the member's potential widow are alive on the 12
member's election day. 13
to surrender married widow's entitlement 14
`Election
`25E. A married widow may elect to surrender the widow's married 15
widow's entitlement. 16
of election to surrender 17
`Making
`25F.(1) An election to surrender must-- 18
(a) be made in writing to the trustees within 6 months after the 19
commencement of this section; and 20
(b) be accompanied by the documents (including documents verified 21
by statutory declaration) the trustees reasonably require; and 22
(c) if it is an election to surrender a potential widow's 23
entitlement--be accompanied by the potential widow's written 24
agreement to the surrender. 25
`(2) The trustees may extend the period mentioned in subsection (1)(a) if 26
the trustees are satisfied-- 27
(a) an election was not made within the period because-- 28
s3 9 s3
Superannuation Legislation Amendment
(No. 2)
(i) the former member or married widow was unaware of the 1
entitlement to make an election to surrender; or 2
(ii) of circumstances beyond the control of the former member 3
or married widow; and 4
(b) it is just and equitable to allow the member or widow to make an 5
election to surrender. 6
`(3) An election to surrender is made when the documents mentioned in 7
subsection (1) are received by the trustees. 8
of surrender 9
`Effect
`25G.(1) On the making of an election to surrender a potential widow's 10
entitlement-- 11
(a) the former member making the election is entitled to be paid an 12
amount equal to 3 times the potential widow's entitlement that 13
would have been payable to the member's potential widow had 14
the member's potential widow made an election under 15
section 20A(1) 5 for the whole of the potential widow's 16
entitlement; and 17
(b) sections 206 and 20A cease to apply to the member's potential 18
widow for the potential widow's entitlement that is surrendered. 19
`(2) On the making of an election to surrender a married widow's 20
entitlement, the widow-- 21
(a) is entitled to be paid an amount equal to 3 times the married 22
widow's entitlement for the widow; and 23
(b) is not entitled to be paid any other amount under this Act. 24
`(3) Despite subsection (2)(b), interest is payable under section 32A7 on 25
the amount paid under subsection (1) or (2). 26
5 Section 20A (Widow's right to substitute pension for entitlement)
6 Section 20 (Benefit of widows of members other than continuing members)
7 Section 32A (Payment of interest on lump sum)
s4 10 s6
Superannuation Legislation Amendment
(No. 2)
of Acts Interpretation Act 1954, s 20A, to part 1
`Application
`25H. The Acts Interpretation Act 1954, section 20A8 , applies to this 2
part. 3
of division 4
`Expiry
`25I. This part expires 1 year after it commences.'. 5
ART 3--AMENDMENT OF POLICE 6
P
SUPERANNUATION ACT 1968 7
amended in pt 3 8
Act
Clause 4. This part amends the Police Superannuation Act 1968. 9
of s 4 (Interpretation) 10
Amendment
Clause 5. Section 4, definition "medical practitioner"-- 11
omit. 12
of new pt 4, div 7 13
Insertion
Clause 6. After section 55-- 14
insert-- 15
`Division 7--Elections to surrender potential widows' entitlements of 16
pre-1984 members and married widows' entitlements 17
for div 7 18
`Definitions
`56. In this division-- 19
8 Section 20A (Repeal does not end saving, transitional or validating effect etc.)
s6 11 s6
Superannuation Legislation Amendment
(No. 2)
"1984 Act" means the Superannuation Acts Amendment Act 1984. 1
"election day", for a pre-1984 member or married widow, means the day 2
the member or widow makes an election to surrender. 3
"election to surrender" means an election to surrender-- 4
(a) a potential widow's entitlement under section 56A;9 or 5
(b) a married widow's entitlement under section 56B.10 6
"lump sum percentage", for a pre-1984 member, means the percentage of 7
the member's entitlement the member received as a lump sum. 8
"married widow" means a person-- 9
(a) who-- 10
(i) is the widow of a contributor who died before the passing of 11
the 1984 Act; or 12
(ii) became the widow of a pre-1984 member before the passing 13
of the 1984 Act; and 14
(b) whose pension under this Act had ceased before the passing of 15
the 1984 Act because the widow remarried after becoming the 16
member's widow; and 17
(c) who, before the commencement of this section, had not again 18
become entitled to a pension under section 42B(5).11 19
"married widow's entitlement", for a married widow, means the 20
fortnightly pension the widow would be entitled to under 21
section 42B(5) if that subsection were to apply to the widow on the 22
election day. 23
"pensioner" means a person receiving annuity benefit under this Act. 24
"potential widow" , of a pre-1984 member, means the person who, as the 25
member's widow, would become entitled to a benefit under this Act 26
on the member's death. 27
9 Section 56A (Election to surrender potential widow's entitlement)
10 Section 56B (Election to surrender married widow's entitlement)
11 Section 42B (Widow's right to substitute pension for assurance benefit)
s6 12 s6
Superannuation Legislation Amendment
(No. 2)
"potential widow's entitlement", for a pre-1984 member's potential 1
widow, means the member's lump sum percentage of the fortnightly 2
pension the potential widow would be entitled to under this Act if the 3
member were to die on the election day. 4
"pre-1984 member" means a male former contributor or pensioner-- 5
(a) who attained the age for retirement or retired before the passing of 6
the 1984 Act; and 7
(b) whose annuity benefit under this Act, or part of it, was commuted 8
for a lump sum payment on application made by the member 9
under section 47A.12 10
to surrender potential widow's entitlement 11
`Election
`56A.(1) A pre-1984 member may elect to surrender the potential 12
widow's entitlement of the member's potential widow. 13
`(2) To remove doubt, it is declared that the election may be made only if 14
the pre-1984 member and the member's potential widow are alive on the 15
member's election day. 16
to surrender married widow's entitlement 17
`Election
`56B. A married widow may elect to surrender the widow's married 18
widow's entitlement. 19
of election to surrender 20
`Making
`56C.(1) An election to surrender must-- 21
(a) be made in writing to the board within 6 months after the 22
commencement of this section; and 23
(b) be accompanied by the documents (including documents verified 24
by statutory declaration) the board reasonably requires; and 25
(c) if it is an election to surrender a potential widow's 26
12 Section 47A (Application to commute)
s6 13 s6
Superannuation Legislation Amendment
(No. 2)
entitlement--be accompanied by the potential widow's written 1
agreement to the surrender. 2
`(2) Despite section 73,13 the board may extend the period mentioned in 3
subsection (1)(a) only if it is satisfied-- 4
(a) an election was not made within the period because-- 5
(i) the pre-1984 member or married widow was unaware of the 6
entitlement to make an election to surrender; or 7
(ii) of circumstances beyond the control of the pre-1984 8
member or married widow; and 9
(b) it is just and equitable to allow the member or widow to make an 10
election to surrender. 11
`(3) An election to surrender is made when the documents mentioned in 12
subsection (1) are received by the board. 13
of surrender 14
`Effect
`56D.(1) On the making of an election to surrender a potential widow's 15
entitlement-- 16
(a) the pre-1984 member making the election is entitled to be paid an 17
amount equal to 78 times the potential widow's entitlement that 18
would have been payable to the member's potential widow had 19
the member's potential widow made an election under 20
section 42B(1)14 for the whole of the potential widow's 21
entitlement; and 22
(b) sections 41 to 42B 15 cease to apply to the member's potential 23
widow for the potential widow's entitlement that is surrendered. 24
`(2) On the making of an election to surrender a married widow's 25
entitlement, the widow-- 26
13 Section 73 (Acceptance of election outside prescribed period)
14 Section 42B (Widow's right to substitute pension for assurance benefit)
15 Section 41 (Entitlement to assurance benefit)
Section 42 (Units of assurance benefit)
Section 42A (Extent of assurance benefit)
s7 14 s8
Superannuation Legislation Amendment
(No. 2)
(a) is entitled to be paid an amount equal to 78 times the married 1
widow's entitlement for the widow; and 2
(b) is not entitled to be paid any other amount under this Act. 3
`(3) Despite subsection (2)(b), compound interest is payable on the 4
amount paid under subsection (1) or (2) from the election day to the day of 5
payment at the net earning rate of the fund. 6
of Acts Interpretation Act 1954, s 20A, to division 7
`Application
`56E. The Acts Interpretation Act 1954, section 20A,16 applies to this 8
division. 9
of division 10
`Expiry
`56F. This division expires 1 year after it commences.'. 11
ART 4--AMENDMENT OF POLICE 12
P
SUPERANNUATION ACT 1974 13
amended in pt 4 14
Act
Clause 7. This part amends the Police Superannuation Act 1974. 15
of new pt 4, div 8 16
Insertion
Clause 8. After section 46-- 17
insert-- 18
8--Elections to surrender potential relicts' entitlements of 19
`Division
pre-1984 members and married relicts' entitlements 20
16 Section 20A (Repeal does not end saving, transitional or validating effect etc.)
s8 15 s8
Superannuation Legislation Amendment
(No. 2)
for div 8 1
`Definitions
`47. In this division-- 2
"1984 Act" means the Superannuation Acts Amendment Act 1984. 3
"election day", for a pre-1984 member or married relict, means the day the 4
member or relict makes an election to surrender. 5
"election to surrender" means an election to surrender-- 6
(a) a potential relict's entitlement under section 47A;17 or 7
(b) a married relict's entitlement under section 47B.18 8
"lump sum percentage", for a pre-1984 member, means the percentage of 9
the member's entitlement the member received as a lump sum. 10
"married relict" means a person-- 11
(a) who-- 12
(i) is the relict of a contributor who died before the passing of 13
the 1984 Act; or 14
(ii) became the relict of a pre-1984 member before the passing 15
of the 1984 Act; and 16
(b) whose pension under this Act had ceased before the passing of 17
the 1984 Act because the relict remarried after becoming the 18
member's relict; and 19
(c) who, before the commencement of this section, had not again 20
become entitled to a pension under section 29A(6).19 21
"married relict's entitlement", for a married relict, means the fortnightly 22
pension the relict would be entitled to under section 29A(6) if that 23
subsection were to apply to the relict on the election day. 24
"potential relict", of a pre-1984 member, means the person who, as the 25
member's relict, would become entitled to a benefit under this Act on 26
the member's death. 27
17 Section 47A (Election to surrender potential relict's entitlement)
18 Section 47B (Election to surrender married relict's entitlement)
19 Section 29A (Relicts' right to substitute pension for entitlement)
s8 16 s8
Superannuation Legislation Amendment
(No. 2)
"potential relict's entitlement", for a pre-1984 member's potential relict, 1
means the member's lump sum percentage of the fortnightly pension 2
the potential relict would be entitled to under this Act if the member 3
were to die on the election day. 4
"pre-1984 member" means a male former contributor or pensioner-- 5
(a) who attained the age for retirement or retired before the passing of 6
the 1984 Act; and 7
(b) whose pension entitlement under this Act, or part of it, was 8
converted into a lump sum payment on an election made by the 9
member under section 45.20 10
to surrender potential relict's entitlement 11
`Election
`47A.(1) A pre-1984 member may elect to surrender the potential relict's 12
entitlement of the member's potential relict. 13
`(2) To remove doubt, it is declared that the election may be made only if 14
the pre-1984 member and the member's potential relict are alive on the 15
member's election day. 16
to surrender married relict's entitlement 17
`Election
`47B. A married relict may elect to surrender the relict's married relict's 18
entitlement. 19
of election to surrender 20
`Making
`47C.(1) An election to surrender must-- 21
(a) be made in writing to the board within 6 months after the 22
commencement of this section; and 23
(b) be accompanied by the documents (including documents verified 24
by statutory declaration) the board reasonably requires; and 25
(c) if it is an election to surrender a potential relict's entitlement--be 26
20 Section 45 (Right of contributor to convert his pension into a lump sum)
s8 17 s8
Superannuation Legislation Amendment
(No. 2)
accompanied by the potential relict's written agreement to the 1
surrender. 2
`(2) An election to surrender is made when the documents mentioned in 3
subsection (1) are received by the board. 4
of surrender 5
`Effect
`47D.(1) On the making of an election to surrender a potential relict's 6
entitlement-- 7
(a) the pre-1984 member making the election is entitled to be paid an 8
amount equal to 78 times the potential relict's entitlement that 9
would have been payable to the member's potential relict had the 10
member's potential relict made an election under 11
section 29A(1)21 for the whole of the potential relict's entitlement; 12
and 13
(b) sections 2922 and 29A cease to apply to the member's potential 14
relict for the potential relict's entitlement that is surrendered. 15
`(2) On the making of an election to surrender a married relict's 16
entitlement, the relict-- 17
(a) is entitled to be paid an amount equal to 78 times the married 18
relict's entitlement for the relict; and 19
(b) is not entitled to be paid any other amount under this Act. 20
`(3) Despite subsection (2)(b), compound interest is payable on the 21
amount paid under subsection (1) or (2) from the election day to the day of 22
payment at the net earning rate of the fund. 23
of Acts Interpretation Act 1954, s 20A, to division 24
`Application
`47E. The Acts Interpretation Act 1954, section 20A,23 applies to this 25
division. 26
21 Section 29A (Relicits' right to substitute pension for entitlement)
22 Section 29 (Entitlement to benefit)
23 Section 20A (Repeal does not end saving, transitional or validating effect etc.)
s9 18 s 10
Superannuation Legislation Amendment
(No. 2)
of division 1
`Expiry
`47F. This division expires 1 year after it commences.'. 2
PART 5--AMENDMENT OF PUBLIC SERVICE 3
SUPERANNUATION ACT 1958 4
amended in pt 5 5
Act
Clause 9. This part amends the Public Service Superannuation Act 1958. 6
of new pt 4, div 7 7
Insertion
Clause 10. After section 47-- 8
insert-- 9
`Division 7--Elections to surrender potential widows' entitlements of 10
pre-1984 members and married widows' entitlements 11
in div 7 12
`Definitions
`48. In this division-- 13
"1984 Act" means the Superannuation Acts Amendment Act 1984. 14
"election day", for a pre-1984 member or married widow, means the day 15
the member or widow makes an election to surrender. 16
"election to surrender" means an election to surrender-- 17
(a) a potential widow's entitlement under section 48A;24 or 18
(b) a married widow's entitlement under section 48B.25 19
"lump sum percentage", for a pre-1984 member, means the percentage of 20
24 Section 48A (Election to surrender potential widow's entitlement)
25 Section 48B (Election to surrender married widow's entitlement)
s 10 19 s 10
Superannuation Legislation Amendment
(No. 2)
the member's entitlement the member received as a lump sum. 1
"married widow" means a person-- 2
(a) who-- 3
(i) is the widow of a contributor who died before the passing of 4
the 1984 Act; or 5
(ii) became the widow of a pre-1984 member before the passing 6
of the 1984 Act; and 7
(b) whose pension under this Act had ceased before the passing of 8
the 1984 Act because the widow married or remarried after 9
becoming the member's widow; and 10
(c) who, before the commencement of this section, had not again 11
become entitled to a pension under section 34B(5).26 12
"married widow's entitlement", for a married widow, means the 13
fortnightly pension the widow would be entitled to under 14
section 34B(5) if that subsection were to apply to the widow on the 15
election day. 16
"pensioner" means a person receiving annuity benefit under this Act. 17
"potential widow" , of a pre-1984 member, means the person who, as the 18
member's widow, would become entitled to a benefit under this Act 19
on the member's death. 20
"potential widow's entitlement", for a pre-1984 member's potential 21
widow, means the member's lump sum percentage of the fortnightly 22
pension the potential widow would be entitled to under this Act if the 23
member were to die on the election day. 24
"pre-1984 member" means a male former contributor or pensioner-- 25
(a) who attained the age for retirement or retired before the passing of 26
the 1984 Act; and 27
(b) whose annuity benefit under this Act, or part of it, was converted 28
into a lump sum payment on application made by the member 29
26 Section 34B (Widow's right to substitute pension for assurance benefit)
s 10 20 s 10
Superannuation Legislation Amendment
(No. 2)
under section 39A.27 1
to surrender potential widow's entitlement 2
`Election
`48A.(1) A pre-1984 member may elect to surrender the potential 3
widow's entitlement of the member's potential widow. 4
`(2) To remove doubt, it is declared that the election may be made only if 5
the pre-1984 member and the member's potential widow are alive on the 6
member's election day. 7
to surrender married widow's entitlement 8
`Election
`48B. A married widow may elect to surrender the widow's married 9
widow's entitlement. 10
of election to surrender 11
`Making
`48C.(1) An election to surrender must-- 12
(a) be made in writing to the board within 6 months after the 13
commencement of this section; and 14
(c) be accompanied by the documents (including documents verified 15
by statutory declaration) the board reasonably requires; and 16
(b) if it is an election to surrender a potential widow's 17
entitlement--be accompanied by the potential widow's written 18
agreement to the surrender. 19
`(2) Despite section 78,28 the board may extend the period mentioned in 20
subsection (1)(a) only if it is satisfied-- 21
(a) an election was not made within the period because-- 22
(i) the pre-1984 member or married widow was unaware of the 23
entitlement to make an election to surrender; or 24
(ii) of circumstances beyond the control of the pre-1984 25
27 Section 39A (Application to commute)
28 Section 78 (Acceptance of election outside prescribed period)
s 10 21 s 10
Superannuation Legislation Amendment
(No. 2)
member or married widow; and 1
(b) it is just and equitable to allow the member or widow to make an 2
election to surrender. 3
`(3) An election to surrender is made when the documents mentioned in 4
subsection (1) are received by the board. 5
of surrender 6
`Effect
`48D.(1) On the making of an election to surrender a potential widow's 7
entitlement-- 8
(a) the pre-1984 member making the election is entitled to be paid an 9
amount equal to 78 times the potential widow's entitlement that 10
would have been payable to the member's potential widow had 11
the member's potential widow made an election under 12
section 34B(1)29 for the whole of the potential widow's 13
entitlement; and 14
(b) sections 33 to 34B 30 cease to apply to the member's potential 15
widow for the potential widow's entitlement that is surrendered. 16
`(2) On the making of an election to surrender a married widow's 17
entitlement, the widow-- 18
(a) is entitled to be paid an amount equal to 78 times the married 19
widow's entitlement for the widow; and 20
(b) is not entitled to be paid any other amount under this Act. 21
`(3) Despite subsection (2)(b), compound interest is payable on the 22
amount paid under subsection (1) or (2) from the election day to the day of 23
payment at the net earning rate of the fund. 24
29 Section 34B (Widow's right to substitute pension for assurance benefit)
30 Section 33 (Entitlement to assurance benefit)
Section 34 (Units of assurance benefit)
Section 34A (Extent of assurance benefit)
s 11 22 s 12
Superannuation Legislation Amendment
(No. 2)
of Acts Interpretation Act 1954, s 20A, to division 1
`Application
`48E. The Acts Interpretation Act 1954, section 20A,31 applies to this 2
division. 3
of division 4
`Expiry
`48F. This division expires 1 year after it commences.'. 5
PART 6--AMENDMENT OF STATE SERVICE 6
SUPERANNUATION ACT 1972 7
amended in pt 6 8
Act
Clause 11. This part amends the State Service Superannuation Act 1972. 9
of new pt 4, div 7A 10
Insertion
Clause 12. After section 48-- 11
insert-- 12
7A--Elections to surrender potential relicts' entitlements of 13
`Division
pre-1984 members and married relicts' entitlements 14
for div 7A 15
`Definitions
`48A. In this division-- 16
"1984 Act" means the Superannuation Acts Amendment Act 1984. 17
"election day", for a pre-1984 member or married relict, means the day the 18
member or relict makes an election to surrender. 19
"election to surrender" means an election to surrender-- 20
31 Section 20A (Repeal does not end saving, transitional or validating effect etc.)
s 12 23 s 12
Superannuation Legislation Amendment
(No. 2)
(a) a potential relict's entitlement under section 48B;32 or 1
(b) a married relict's entitlement under section 48C.33 2
"lump sum percentage", for a pre-1984 member, means the percentage of 3
the member's entitlement the member received as a lump sum. 4
"married relict" means a person-- 5
(a) who-- 6
(i) is the relict of a contributor who died before the passing of 7
the 1984 Act; or 8
(ii) became the relict of a pre-1984 member before the passing 9
of the 1984 Act; and 10
(b) whose pension under this Act had ceased before the passing of 11
the 1984 Act because the relict married or remarried after 12
becoming the member's relict; and 13
(c) who, before the commencement of this section, had not again 14
become entitled to a pension under section 31A(6).34 15
"married relict's entitlement", for a married relict, means the fortnightly 16
pension the relict would be entitled to under section 31A(6) if that 17
subsection were to apply to the relict on the election day. 18
"pre-1984 member" means a male former contributor or pensioner-- 19
(a) who attained the age for retirement or retired before the passing of 20
the 1984 Act; and 21
(b) whose pension entitlement under this Act, or part of it, was 22
converted into a lump sum payment on an election made by the 23
member under section 47.35 24
"potential relict", of a pre-1984 member, means the person who, as the 25
member's relict, would become entitled to a benefit under this Act on 26
32 Section 48B (Election to surrender potential relict's entitlement)
33 Section 48C (Election to surrender married relict's entitlement)
34 Section 31A (Relicts' right to substitute pension for entitlement)
35 Section 47 (Right of contributor to convert his pension into a lump sum)
s 12 24 s 12
Superannuation Legislation Amendment
(No. 2)
the member's death. 1
"potential relict's entitlement", for a pre-1984 member's potential relict, 2
means the member's lump sum percentage of the fortnightly pension 3
the potential relict would be entitled to under this Act if the member 4
were to die on the election day. 5
to surrender potential relict's entitlement 6
`Election
`48B.(1) A pre-1984 member may elect to surrender the potential relict's 7
entitlement of the member's potential relict. 8
`(2) To remove doubt, it is declared that the election may be made only if 9
the pre-1984 member and the member's potential relict are alive on the 10
member's election day. 11
to surrender married relict's entitlement 12
`Election
`48C. A married relict may elect to surrender the relict's married relict's 13
entitlement. 14
of election to surrender 15
`Making
`48D.(1) An election to surrender must-- 16
(a) be made in writing to the board within 6 months after the 17
commencement of this section; and 18
(b) be accompanied by the documents (including documents verified 19
by statutory declaration) the board reasonably requires; and 20
(c) if it is an election to surrender a potential relict's entitlement--be 21
accompanied by the potential relict's written agreement to the 22
surrender. 23
`(2) An election to surrender is made when the documents mentioned in 24
subsection (1) are received by the board. 25
s 12 25 s 12
Superannuation Legislation Amendment
(No. 2)
of surrender 1
`Effect
`48E.(1) On the making of an election to surrender a potential relict's 2
entitlement-- 3
(a) the pre-1984 member making the election is entitled to be paid an 4
amount equal to 78 times the potential relict's entitlement that 5
would have been payable to the member's potential relict had the 6
member's potential relict made an election under 7
section 31A(1)36 for the whole of the potential relict's entitlement; 8
and 9
(b) sections 3137 and 31A cease to apply to the member's potential 10
relict for the potential relict's entitlement that is surrendered. 11
`(2) On the making of an election to surrender a married relict's 12
entitlement, the relict-- 13
(a) is entitled to be paid an amount equal to 78 times the married 14
relict's entitlement for the relict; and 15
(b) is not entitled to be paid any other amount under this Act. 16
`(3) Despite subsection (2)(b), compound interest is payable on the 17
amount paid under subsection (1) or (2) from the election day to the day of 18
payment at the net earning rate of the fund. 19
of Acts Interpretation Act 1954, s 20A, to division 20
`Application
`48F. The Acts Interpretation Act 1954, section 20A,38 applies to this 21
division. 22
of division 23
`Expiry
`48G. This division expires 1 year after it commences.'. 24
25
36 Section 31A (Relicts' right to substitute pension for entitlement)
37 Section 31 (Entitlement to benefit)
38 Section 20A (Repeal does not end saving, transitional or validating effect etc.)
s 12 26 s 12
Superannuation Legislation Amendment
(No. 2)
© State of Queensland 1995
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