Superannuation (PSSAP) Amendment (Administration Costs) Instrument 2015

Link to law: https://www.comlaw.gov.au/Details/F2015L00952

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Superannuation (PSSAP) Amendment (Administration Costs) Instrument 2015
I, MATHIAS HUBERT PAUL CORMANN, Minister for Finance, make the following instrument.
Dated 18 June 2015
MATHIAS HUBERT PAUL CORMANN
Minister for Finance
 
  
  
Contents
1............ Name............................................................................................................................. 1
2............ Commencement............................................................................................................. 1
3............ Authority....................................................................................................................... 1
4............ Schedules...................................................................................................................... 1
Schedule 1—Amendments                                                                                                                          2
Superannuation (PSSAP) Trust Deed                                                                                                2
 
1  Name
                   This is the Superannuation (PSSAP) Amendment (Administration Costs) Instrument 2015.
2  Commencement
             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
 
Commencement information

Column 1
Column 2
Column 3

Provisions
Commencement
Date/Details

1.  The whole of this instrument
At the same time as item 4 of Schedule 3 to the Governance of Australian Government Superannuation Schemes Legislation Amendment Act 2015 commences.
 

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3  Authority
                   This instrument is made under the Superannuation Act 2005.
4  Schedules
                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1—Amendments
  
Superannuation (PSSAP) Trust Deed
1  Paragraph 3.2(m)
Omit “in relation to the administration of the PSSAP Fund”, substitute “relating to the costs of the administration of the Act and this Deed”.
2  Subclause 5.3
Repeal the subclause, substitute:
5.3     CSC must pay the following out of the PSSAP Fund:
(a)     benefits in respect of PSSAP members;
(b)     costs of the administration of the Act and this Deed;
(c)     taxes relating to PSSAP and the PSSAP Fund.
Note:
         The costs of the administration of the Act and this Deed include the costs of and incidental to both the management of the PSSAP Fund by CSC and the investment of money from the PSSAP Fund.
3  Division 5 of Part 2 of the Schedule
Repeal the Division, substitute:
Division 5
Administration fees
Administration fees for PSSAP members
2.5.1         CSC may determine fees to be paid from the personal accumulation account of a PSSAP member relating to the costs of the administration of the Act and this Deed (generally and in matters relating more specifically to the account).
4  After Rule 7.2.1 of the Schedule
Insert:
Administration fees debited from non‑member spouse interest account
7.2.1A      There must be debited from a non‑member spouse interest account fees determined by CSC under Rule 7.2.1B.
7.2.1B      CSC may determine fees to be paid from a non‑member spouse interest account relating to the costs of the administration of the Act and this Deed (generally and in matters relating more specifically to the account).