SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976
SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - TABLE OF PROVISIONS
SUPERANNUATION AMENDMENT ACT 1976 No. 32 of 1976 TABLE OF PROVISIONS Section 1. Short title and citation 2. Commencement 3. Interpretation 4. Superannuation provision for certain persons by way of life assurance 5. Repeal of Part II 6. Insertion of section 19A 7. Units of pension 8. Insertion of sections 20AA and 20AB 9. Rights of employees over 40 years of age 10. Election to take up rejected units as non-contributory units 11. Election ineffective if number of contributory units is, or falls below, number of initial units 12. Election to contribute for full pension at 60 years of age 13. Election to contribute for additional units at 65 years of age 14. Contributions for reserve units of pension 15. Transfer of contributions to Superannuation Fund 16. Discontinuance of contributions for reserve units 17. Payments out of Consolidated Revenue Fund 18. Deferment of contributions of contributors under Defence Force Retirement and Death Benefits Act 19. Age of compulsory retirement 20. Breakdown retirement 21. Compulsory termination of service of certain contributors for whom no retiring age is fixed by law 22. Amount of pension on retirement in respect of units other than non-contributory units 23. Additional pension in respect of non-contributory units 24. Retirement through invalidity-amount of pension 25. Pension to spouse and children on death of contributor 26. Pension to spouse and children on death of pensioner 27. Pension to orphans on death of contributor or pensioner 28. Insertion of sections 48AA, 48AB, 48AC and 48AD 29. Pension not payable in certain circumstances 30. Refund of contributions on death of contributor without dependants 31. Choice of benefits for contributor who is retrenched 32. Refund of contributions in event of resignation, dismissal or discharge 33. Rights of contributors who resign to contest elections 34. Desertion by pensioner of spouse or child 35. Repeal of section 56 36. Payments to children 37. Minimum pension 38. Payment to person other than the pensioner 39. Repeal of Division 3 of Part IV 40. Certain pensioners who become employees not to contribute except in respect of difference 41. Election to come under Act for difference 42. Exchange of pension rights for equivalent rights under this Act 43. Employee having right to refund or gratuity under other law may exchange his rights for equivalent rights under this Act 44. Transfer of policies to Board 45. Repeal of sections 75 to 78 (inclusive) 46. Contributors to Provident Account 47. Insertion of section 79A 48. Insertion of section 80A 49. Election to contribute to Provident Account 50. Payments on retirement 51. Payment on death of contributor with dependants 52. Payments on death or invalidity in certain circumstances 53. Payment on death of contributor to Provident Account without dependants 54. Payments on resignation or dismissal 55. Compulsory termination of service of certain contributors to Provident Account for whom no retiring age is fixed by law 56. Rights of contributors to Provident Account who resign to contest elections 57. Payment to other person 58. Rate of interest 59. Payments out of Consolidated Revenue Fund to Provident Account 60. Certain amounts to be paid out of Consolidated Revenue Fund to Superannuation Fund 61. Increased contributions out of Consolidated Revenue Fund
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62. Insertion of Part relating to certain employees formerly in private employment 63. Certain amounts to be paid out of Consolidated Revenue Fund to Superannuation Fund 64. Increased contributions out of Consolidated Revenue Fund 65. Insertion of Part relating to certain employees who transfer from State employment 66. Insertion of section 108A 67. Insertion of section 110D 68. Certain amounts to be paid out of Consolidated Revenue Fund to the Superannuation Fund 69. Payments to be made out of Consolidated Revenue Fund to the Superannuation Fund 70. Insertion of section 119MA 71. Eligible employment 72. Transfer value 73. Deferred benefits 74. Circumstances in which person entitled to deferred benefits 75. Insertion of section 119ZBA 76. Repeal of section 119ZC 77. Payments out of Consolidated Revenue Fund 78. Insertion of section 119ZEA 79. Heading to Part XB 80. Interpretation 81. Payment of pension increases out of Consolidated Revenue Fund 82. Repeal of existing Part XI and insertion of new Part relating to pension increases on and after 1 July 1976 83. Assignment of pensions 84. Attachment of pensions 85. Substitution of section 145 86. Insertion of section 149B 87 Regulations 88. Certain references to Superannuation Act 1922 to be read as references to Superannuation Act 1976 89. Application of amendments to members of Teaching Service 90. Validation of certain certificates, determinations, &c., given or made before date of Assent 91. Report by Commissioner for Superannuation SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 1. Short title.
SUPERANNUATION AMENDMENT ACT 1976 No. 32 of 1976 An Act to amend the Superannuation Act 1922-1974, and for related purposes. BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:- Short title and citation. 1. (1) This Act may be cited as the Superannuation Amendment Act 1976.*1* (2) The Superannuation Act 1922-1974*2* is in this Act referred to as the Principal Act. (3) The Principal Act, as amended by this Act, may be cited as the Superannuation Act 1922-1976. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 2. Commencement.
2. (1) Sections 1, 2, 89 and 90 shall come into operation on the day on which this Act receives the Royal Assent.*1* (2) Paragraph 7 (b), section 11, sub-sections 29 (1) and 52 (1) and sections 62, 65, 66, 71 and 72 shall be deemed to have come into operation on 29 June 1974. (3) Paragraphs 3 (b) and (f) shall be deemed to have come into operation on 1 April 1975. (4) Paragraph 3 (a) shall be deemed to have come into operation on 1 July 1975. (5) Section 8, paragraph 10 (b) and section 48 shall be deemed to have come into operation on 5 February 1976. (6) Paragraph 9 (c) and sections 12 and 46 shall be deemed to have come into operation on 13 February 1976. (7) The remaining provisions of this Act shall come into operation on 1 July 1976. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 3. Interpretation.
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3. Section 4 of the Principal Act is amended- (a) by omitting from the definition of ''approved authority'' in sub-section (1) the words ''the Canberra Hospital Management Board'' and substituting the words ''the Capital Territory Health Commission''; (b) by inserting in the definition of ''approved authority'' in sub-section (1), after the words ''Australian National University'', the words '', Aboriginal Hostels Limited''; (c) by inserting in sub-section (1), after the definition of ''The Board'', the following definition:- '' 'The Commissioner for Superannuation' means the Commissioner for Superannuation under the Superannuation Act 1976;''; (d) by inserting in sub-section (1), after the definition of ''The maximum age for retirement'', the following definition:- '' 'The new Superannuation Fund' means the Superannuation Fund established by the Superannuation Act 1976;''; (e) by adding at the end of sub-section (1) the following definition:- '' 'The Superannuation Fund Investment Trust' means the Superannuation Fund Investment Trust established by the Superannuation Act 1976.''; and (f) by adding at the end thereof the following sub-section:- ''(9) For the purposes of sub-section (6) in its application in relation to Aboriginal Hostels Limited, that body shall be deemed to be constituted under an Act administered by the Minister for Aboriginal Affairs.''. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 4. Superannuation provision for certain persons by way of life assurance.
4. Section 7 of the Principal Act is amended by inserting after sub-section (1) the following sub-section:- ''(1A) An arrangement shall not be made under sub-section (1) of this section on or after 1 July 1976.''. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 5. Repeal of Part II.
5. (1) Part II of the Principal Act is repealed. (2) Notwithstanding the repeal effected by sub-section (1), section 15 of the Principal Act continues to apply to and in relation to the accounts relating to the Superannuation Fund to the extent that those accounts had not, before the commencement of this section, been audited by the Auditor-General. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 6.
6. After section 19 of the Principal Act the following section is inserted:- Contributions not payable on or after 1 July 1976. ''19A. Contributions shall not be made under this Act on or after 1 July 1976 except- (a) contributions the obligation for the payment of which came into existence before that date; or (b) contributions payable by virtue of an election made under sub-section (3) of section 19 of this Act, whether made before or after that date.''. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 7. Units of pension.
7. Section 20 of the Principal Act is amended- (a) by adding at the end of sub-section (6) the words '', but a person is not entitled to make an election under this sub-section after 30 June 1976''; and (b) by inserting after sub-paragraph (i) of paragraph (b) of sub-section (10) the following sub-paragraphs:- ''(ia) in the case of an employee who is a contributor to the Fund in accordance with Part VIA and was, immediately before he became an employee, a member of a superannuation scheme within the meaning of that Part-the period during which he was a member of that scheme; ''(ib) in the case of an employee who is contributing to the Fund in accordance with Part VIIA and was, immediately before he became an employee, a contributor to a State Fund within the meaning of that Part-the period during which he was a contributor to that fund;''. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 8.
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8. After section 20 of the Principal Act the following sections are inserted:- Obligation to make additional contributions after 4 February 1976. ''20AA. (1) Subject to sub-section (2) of this section, a contributor is not eligible, and shall not be required, to contribute for an additional unit of pension by reason of- (a) an increase in his salary that takes effect after 4 February 1976; or (b) an increase in the prescribed amount that takes effect after that date. ''(2) Where- (a) a contributor ceases to be an employee after 4 February 1976 and before 1 July 1976, otherwise than by reason of death, and- (i) pension is payable to him; (ii) he makes an election under section 119U of this Act; or (iii) he is entitled to benefit under section 50 of this Act; or (b) a contributor dies after 4 February 1976 and before 1 July 1976 and pension is payable in respect of him, sub-section (1) of this section does not apply, and shall be deemed not to have applied, to or in relation to him. ''(3) For the purposes of sub-section (1) of this section, an increase in the salary of an employee shall be deemed to take effect as from the date upon which his salary is increased, or as from the date as from which his salary is increased, whichever is the later. Elections consequential upon operation of section 20AA. ''20AB. (1) In this section- ' election to which this section applies' means an election under sub-section (1) or (2) of section 20A, under sub-section (1) of section 22A, under sub-section (1) or (2) of section 25, or under subsection (1) of section 31, of this Act; ' person in respect of whom this section applies' means a person who has ceased to be an employee and to whom sub-section (1) of section 20AA would apply but for the operation of sub-section (2) of that section. ''(2) A person in respect of whom this section applies is not disqualified from making an election to which this section applies by reason that he has ceased to be an employee if the election is made within a period of 3 months after he ceased to be an employee, or within such further period as the Board (or, on and after 1 July 1976, the Commissioner for Superannuation), in special circumstances, allows and, if he makes such an election within that period, this Act has effect, and shall be deemed to have had effect, as if the election had been made before he ceased to be an employee. ''(3) Where a person in respect of whom this section applies- (a) ceases to be an employee by reason of his death; or (b) dies after he has ceased to be an employee but before the expiration of the period referred to in sub-section (2) of this section, the person (if any) who, by virtue of sub-section (4) of this section, is eligible to make an election under this sub-section may, within a period of 3 months after the death of the deceased person or within such further period as the Board (or, on and after 1 July 1976, the Commissioner for Superannuation), in special circumstances, allows, make any election to which this section applies that could have been made by the deceased person but which was not made by him and, if the person so eligible makes such an election, this Act has effect, and shall be deemed to have had effect, as if the election had been made by the deceased person before he ceased to be an employee. ''(4) For the purposes of sub-section (3) of this section, the person who is eligible to make an election under that sub-section is- (a) if the deceased person left a widow or widower-the widow or widower; or (b) in any other case-such person (if any) as the Board (or, on and after 1 July 1976, the Commissioner for Superannuation) determines. ''(5) Where an election is made under sub-section (1) of section 22A of this Act by virtue of sub-section (2) or (3) of this section by or in respect of a
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person in respect of whom this section applies, the election shall specify the date as from which the election is to have effect, being a date not earlier than 5 February 1976 and not later than the date on which the person ceased to be an employee, and, for the purposes of sub-section (2) of section 22A of this Act, the date so specified shall be deemed to be the date of the election.''. SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT. 9. Rights of employees over 40 years of age.
9. Section 20A of the Principal Act is amended- (a) by adding at the end of sub-section (1) the words '', but, subject to section 20AB of this Act, a person is not entitled to make an election under this sub-section after 30 June 1976''; (b) by adding at the end of sub-section (2) the words '', but, subject to section 20AB of this Act, a person is not entitled to make an election under this sub-section after 30 June 1976''; and (c) by adding at the end of sub-section (3) the words '', but a person is not entitled to make an election under this sub-section after 12 February 1976''.