Retirement Benefits Regulations 2005

Retirement Benefits Regulations 2005

I, the Administrator in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Retirement Benefits Act 1993 .

E. C. CRAWFORD

Administrator

By His Excellency's Command,

J. G. COX

Minister for Finance

PART 1 - Preliminary

1.   Short title

These regulations may be cited as the Retirement Benefits Regulations 2005 .

2.   Commencement

These regulations take effect on the day on which their making is notified in the Gazette, but only if a notice is also published in the Gazette to the effect that a draft of the regulations has been approved by both Houses of Parliament under section 29 of the Retirement Benefits Act 1993 .

3.   Interpretation

(1)  In these regulations, unless the contrary intention appears –

accumulated leave scheme means a plan or arrangement that allows a participating employee, by accepting a reduction in salary for a certain period, to be granted leave during which he or she will be paid salary at the same reduced rate and includes the State Service accumulated leave scheme and any other accumulated leave scheme approved by a Head of Agency;

accumulation scheme has the same meaning as in the Public Sector Superannuation Reform Act 1999 ;

Act means the Retirement Benefits Act 1993 ;

Actuary means –

(a) a person who is a Fellow of either the Institute of Actuaries (Australia), the Institute of Actuaries (London) or the Faculty of Actuaries (Edinburgh); or

(b) an organisation which employs any such person –

if the person or organisation is appointed under regulation 20 ;

additional employer contributions means employer contributions paid by an Agency on behalf of a person as mentioned in regulation 64 ;

Agency means –

(a) a Government department or a statutory authority or other organisation specified in column 1 of Schedule 1 to the State Service Act; or

(b) a prescribed authority that is not such an organisation; or

(c) the controlling authority of any industry or undertaking carried on by or on behalf of the State; or

(d) where the services of a prescribed authority are transferred to another person or organisation or another prescribed authority, the person, organisation or authority responsible for payment of contributions to the Fund in respect of a contributor;

allocated pension means a pension payable from an allocated pension account;

allocated pension account means an account established or maintained under regulation 68 ;

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] allot means debit an amount from one RBF member's investment account and credit the amount to another RBF member's –

(a) investment account; or

(b) account in the accumulation scheme;

amalgamated contributor means a contributor who makes contributions to the Fund in accordance with clause 4 of Schedule 3 to the Retirement Benefits Act 1982 ;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] assessable income has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

assessment notice means a notice issued by the Taxation Commissioner requiring the payment of an amount of surcharge contributions tax, including interest on that payment, in respect of any person and includes –

(a) a notice that has been issued in respect of superannuation contributions transferred to the Board under these regulations; and

(b) an amendment to that notice issued by the Taxation Commissioner;

AWOTE means the original estimates series of average weekly ordinary time earnings of full-time adult employees in Australia published by the Australian Statistician under the Census and Statistics Act 1905 of the Commonwealth;

basic contribution rate means –

(a) in respect of a contributor to whom regulation 33(1)(c) or (d) refers, a rate of contribution equal to 5% of salary; or

(b) in respect of an existing contributor, a contribution rate equal to 5% of salary or, if he or she is making contributions at the rate of 2.5% of salary, that rate; or

(c) in respect of an amalgamated contributor, a rate of contribution equal to the sum of –

(i) the contribution payable by the contributor as at 30 June 1982; and

(ii) 5% of any salary increase received by him or her after 1 July 1982;

benefit multiple factor means the benefit multiple factor derived in accordance with regulation 44 ;

casual employee means a person who is paid only for the hours worked at a rate which compensates that person for not being eligible for paid leave, without regard to the term of his or her employment but does not include a permanent part-time employee or a temporary part-time employee;

CEO means the Chief Executive Officer of the Board;

commencement day means the day on which these regulations take effect;

Commonwealth Surcharge Act means an Act of the Commonwealth which imposes a surcharge liability on a superannuation benefit or interest or which relates to any such liability;

complying superannuation scheme means the accumulation scheme or a superannuation scheme that is a complying superannuation fund for the purposes of the SIS Act;

compulsory preservation account means an account established or maintained under regulation 67 ;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] concessional contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

Consumer Price Index means the table described as the "Consumer Price Index Numbers – All Groups, All Capital Cities" published by the Australian Statistician under the Census and Statistics Act 1905 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] continued State Fire Commission superannuation scheme means the "continued scheme" as defined in section 3 of the Retirement Benefits (State Fire Commission Superannuation Scheme) Act 2005 ;

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] continued Tasmanian Ambulance Service superannuation scheme means the "continued scheme" as defined in section 3 of the Retirement Benefits (Tasmanian Ambulance Service Superannuation Scheme) Act 2006 ;

contract employee means an employee who is appointed and employed on terms and conditions specified in a contract of service;

contributions means member contributions or salary sacrifice contributions but does not include spouse contributions or voluntary contributions;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007]

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] contributions tax means an amount of tax that is required to be paid on superannuation contributions, or roll-over superannuation benefits, in accordance with the Income Tax Assessment Act 1997, and the Income Tax Rates Act 1986, of the Commonwealth;

contributor means –

(a) an employee who is contributing to the contributory scheme by way of member contributions or salary sacrifice contributions; or

(b) an employee who has ceased to contribute to the contributory scheme under regulation 34(5) ; or

(c) an employee who is not contributing to the contributory scheme while on approved leave without pay; or

(d) a person who elects under regulation 29 to contribute to the contributory scheme –

and includes an amalgamated contributor and an existing contributor;

contributor's account means an account established by the Board under regulation 42 for a contributor;

contributory scheme means the superannuation arrangements provided for by Part 5 ;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] directed termination payment has the same meaning as in section 82.10F of the Income Tax (Transitional Provisions) Act 1997 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] element taxed in the fund has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] element untaxed in the fund has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

eligible rollover fund has the same meaning as in the SIS Act;

employee means a person appointed or employed in any position or capacity under the State Service Act or in any industry or undertaking carried on by or on behalf of the State other than a person mentioned in regulation 6(1) ;

employment redundancy program means a program for the purpose of reducing the level of employment in the public sector declared by the Minister by notice published in the Gazette to be an employment redundancy program for the purposes of these regulations;

existing contributor means a contributor who, immediately before 1 July 1994, was a contributor to the contributory scheme established under the Retirement Benefits Act 1982 and who has continued at all times to be such a contributor, but does not include an amalgamated contributor;

former regulations means the Retirement Benefits Regulations 1994 or the Retirement Benefits (Transitional) Regulations 1994 ;

former superannuation legislation means the Superannuation Act 1938 , the Retirement Benefits Act 1970 , the Retirement Benefits Act 1982 or the former regulations;

full benefits contributor means a contributor who is eligible to be treated as a full benefits contributor in accordance with regulation 120 ;

full-time equivalent service means the period of service that a person, who has been employed at any time otherwise than on a full-time basis, would have attained if that person had always been employed on a full-time basis;

Fund means the Retirement Benefits Fund continued in existence under section 11 of the Act and includes all money received by the Board and all subfunds, accounts, investments, policies of insurance and other assets in which that money is from time to time invested;

gainful employment means employment for gain or reward in any business, trade, profession, vocation, calling, occupation or employment but does not include voluntary or unpaid employment;

Government Business Enterprise means a Government Business Enterprise within the meaning of the Government Business Enterprises Act 1995 ;

Government department means a Government department established under section 11 of the State Service Act;

half-year means a period of 6 months commencing on 1 January or 1 July in each year;

Head of Agency means the person responsible for the administration of an Agency;

interim invalidity means interim invalidity as determined by the Board under regulation 118(3) ;

interim invalidity pension means a pension paid by the Board on the grounds of interim invalidity;

interim invalidity pensioner means a person who is in receipt of an interim invalidity pension;

invalidity means total and permanent incapacity, partial and permanent incapacity or interim invalidity as determined by the Board under regulation 118(3) ;

invalidity benefit means a benefit paid by the Board on the ground of total and permanent incapacity, partial and permanent incapacity or interim invalidity;

invalidity pension means a pension paid by the Board on the grounds of total and permanent incapacity, partial and permanent incapacity or interim invalidity;

invalidity pensioner means a person who is in receipt of an invalidity pension;

investment account means an account established or maintained under regulation 62 ;

legal personal representative means the executor of the will or administrator of the estate of a deceased person, the trustee of the estate of a person under a legal incapacity or a person who holds a power of attorney granted by a person in respect of matters generally pertaining to these regulations;

limited benefits contributor means a contributor who is not eligible to be treated as a full benefits contributor as provided by regulation 120 ;

long leave of absence without pay means a period of leave without pay that exceeds 20 continuous working days;

member contributions means an amount paid or payable by a contributor to the contributory scheme as required under Part 5 but does not include salary sacrifice contributions;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] non-concessional contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] non-concessional contributions cap has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

non-contributory scheme means the scheme established under Part 5 of the Retirement Benefits Regulations 1994 as in force immediately before the commencement day;

notional contributions surcharge amount means an amount calculated by the Board under regulation 88 ;

notional surchargeable contributions factor means a factor applying to a contributor as determined under regulation 23(9) ;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] notional taxed contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

parental leave means any period not exceeding 12 months on any one occasion of unpaid maternity leave, unpaid paternity leave or unpaid adoption leave;

partial and permanent incapacity means partial and permanent incapacity as determined by the Board under regulation 118(3) ;

partial and permanent incapacity pension means a pension paid by the Board on the grounds of partial and permanent incapacity;

pay-day means the day on which a fortnightly instalment of pension is payable under regulation 84 ;

pensioner means a person who is receiving a pension under these regulations that is not an allocated pension;

permanent employee means a person aged 15 years or over –

(a) who was employed in a permanent capacity in an Agency on 14 May 1999 and has not received a benefit under these regulations or the former regulations on cessation of employment after that date; or

(b) who, under the Public Sector Superannuation Reform Act 1999 , these regulations or the former regulations, has become a contributor and has not received a benefit under these regulations or the former regulations on cessation of employment after that date –

and includes an employee who is –

(c) appointed as a permanent employee under section 37 of the State Service Act; or

(d) employed in a permanent capacity by the Hydro-Electric Corporation; or

(e) employed in a permanent capacity as a police officer; or

(f) employed as a student nurse or a trainee under section 37 of the State Service Act; or

(g) employed in a permanent capacity otherwise than as provided in paragraphs (c) to (f) , both inclusive, and who was, immediately before 1 July 1994, a contributor within the meaning of the Retirement Benefits Act 1982 ; or

(h) an officer the term of whose appointment is fixed by an Act; or

(i) appointed under Part 6 of the State Service Act and who was, immediately before his or her appointment, a contributor to the contributory scheme; or

(j) a person employed in a permanent capacity who, under any Act, is taken to be an employee within the meaning of, or for the purposes of, these regulations; or

(k) an employee, or a member of a class of employees, of an Agency determined by the Minister, on the recommendation of the Board, to be employed in a permanent capacity for the purposes of these regulations –

but does not include –

(l) a person to whom regulation 6 applies; or

(m) a permanent part-time employee who before 1 July 1994 was not a contributor to the contributory scheme; or

(n) a married female employee who has been continuously employed since 1 July 1982 and who is not contributing to the contributory scheme; or

(o) a person –

(i) who is a casual employee or whose employment is casual in nature; or

(ii) who is a temporary part-time or temporary full-time employee or whose employment is of a temporary or fixed-term nature; or

(iii) who is appointed for a specified term or for the duration of a specified task under section 37 of the State Service Act; or

(iv) who is employed as an agent or who is remunerated by fees, allowances or commission only; or

(v) whose appointment is honorary; or

(vi) who is employed under a contract which is not a prescribed contract of employment; or

(vii) by reason only of his or her appointment as a member of a board; or

(p) a person referred to in paragraphs (a) to (k) of this definition employed or appointed after 14 May 1999;

prescribed arrangement means an enactment, arrangement or agreement under which services currently provided by an Agency or part of an Agency are transferred as a result of –

(a) a change to its constitution; or

(b) a sale or any other arrangement which may result in any change to the terms of employment of all or some of its employees –

to another person, organisation or prescribed authority if the enactment, arrangement or agreement is declared to be a prescribed arrangement under subregulation (3) ;

prescribed authority means an authority, State-owned company, Agency or part of an Agency to which these regulations apply under section 5(1A) or 29J of the Act;

prescribed contract of employment means a contract in writing under which a person is employed in an Agency, for a period that is, or for periods that together are, not less than 3 years, whether the periods are specified in, or determined by reference to, the contract;

preservation age means the preservation age determined in accordance with regulation 4 ;

quarter means a period of 3 months commencing on 1 July, 1 October, 1 January or 1 April in any year;

rate of contribution means the effective rate of contributions made by or on behalf of a contributor after any deduction is made for contributions tax in accordance with the law of the Commonwealth;

RBF member means –

(a) a contributor; or

(b) a person holding a compulsory preservation account; or

(c) a person holding an investment account; or

(d) a pensioner unless he or she is in receipt of a pension payable under regulation 81 only;

record means any record of information, and includes –

(a) anything on which there is writing; and

(b) anything on which there are marks, figures, symbols or perforations having a meaning for persons qualified to interpret them; and

(c) anything from which sounds, images or writings can be reproduced with or without the aid of anything else; and

(d) a map, plan, drawing or photograph –

and a reference in this Act to a record includes a reference to –

(e) any part of any such record; and

(f) any copy, reproduction or duplicate of the record or of any part of the record; and

(g) any part of such a copy, reproduction or duplicate;

regulated superannuation fund means a regulated superannuation fund within the meaning of the SIS Act;

responsible officer, in respect of an Agency, means –

(a) the person employed in that Agency to whom is assigned the duty of conducting the business of the Agency relating to the Fund; or

(b) where that duty is not assigned, the Head of Agency;

reversionary pension to which a person is entitled means a pension in respect of which the entitlement is at any time conditional on the death of another person who is still living;

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] rolled over has the same meaning as in Part 5 of the SIS Regulations;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] roll-over superannuation benefit has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] RSA means a Retirement Savings Account within the meaning of the Retirement Savings Accounts Act 1997 of the Commonwealth;

SAF Agreement means the agreement referred to in section 71A(1) of the Retirement Benefits Act 1982 ;

salary, subject to subregulation (4) , includes wages, allowances and discretionary benefits paid or payable to a person as an employee and –

(a) any amount paid by an Agency to a complying superannuation scheme on behalf of an employee who has the option of receiving the amount as salary or in another form of benefit; and

(b) any amount paid for, or value assessed of non-salary benefits received by, an employee who has the option of receiving the amount as salary or in another form of benefit –

but does not include –

(c) any bonus or payment for special circumstances of an occasional nature; or

(d) any payment in respect of travelling or other work-related expenses; or

(e) any payment in respect of accrued recreation leave or long service leave that is not taken as leave but for which a lump sum payment is made; or

(f) any wages, allowances or discretionary benefits in respect of which contributions have not been paid by a person while an employee; or

(g) any increase in salary ratified after cessation of employment;

salary sacrifice contributions means an amount paid or payable to the contributory scheme under an arrangement between a contributor and his or her employing Agency providing for non-salary benefits to be paid by that employing Agency instead of contributions that would otherwise be required to be paid by that contributor under Part 5 ;

Scheme means the Retirement Benefits Fund Scheme referred to in section 5 of the Act;

service, in respect of a contributor, means a period or periods of any of the following kinds:

(a) a period in respect of which a contributor made contributions to the Fund under Part 5 ;

(b) any period recognised as service under regulation 31 or 32 ;

short leave of absence without pay means a period of leave without pay consisting of 20 continuous working days or less;

SIS Act means the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006]

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] spouse, except in regulation 64A and Part 9 , includes the person with whom an RBF member is in a significant relationship, within the meaning of the Relationships Act 2003 ;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007]

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] spouse contributions means voluntary contributions paid on behalf of a spouse;

State-owned company means a company incorporated under the Corporations Act which is controlled by –

(a) the Crown; or

(b) a Government Business Enterprise; or

(c) a statutory authority; or

(d) another company which is itself controlled by an entity referred to in paragraph (a) , (b) or (c) ;

State Service Act means the State Service Act 2000 ;

statutory authority means a body or authority, whether incorporated or not, which is established or constituted by or under an Act or under the Royal Prerogative, where the body or authority, or the governing body of which, wholly or partly comprises a person or persons appointed by the Governor, a Minister or another statutory authority, and includes the governing body of any such statutory authority;

subfund means a part of the Fund that is maintained by the Board as a subfund under the Act;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] superannuation benefit has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] superannuation contributions means –

(a) employer superannuation contributions paid or payable under these regulations or the Trust Deed; and

(b) salary sacrifice contributions; and

(c) additional employer contributions; and

(d) voluntary contributions; and

(e) spouse contributions; and

(f) member contributions that have not been included in the assessable income of the Fund;

superannuation units means pension units for which contributions were made under the Superannuation Act 1938 ;

surcharge liability means any liability for a tax or interest under the Commonwealth Surcharge Act arising from an entitlement to a benefit under these regulations;

surchargeable contributions debt account means an account established under regulation 93 ;

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006]

[Regulation 3 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] surviving partner means a person who is determined by the Board under regulation 129A to be the surviving partner of an RBF member;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] tax free component has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;

Taxation Commissioner means the person who is holding office as, or acting in the office of, the Commissioner of Taxation under the Taxation Administration Act 1953 of the Commonwealth;

total and permanent incapacity means total and permanent incapacity as determined by the Board under regulation 118(3) ;

total and permanent incapacity pension means a pension paid by the Board on the grounds of total and permanent incapacity;

transferring member has the same meaning as in the Public Sector Superannuation Reform Act 1999 ;

Trust Deed has the same meaning as in the Public Sector Superannuation Reform Act 1999 ;

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007]

[Regulation 3 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] voluntary contributions means an amount paid under regulation 63 to an investment account established or maintained under regulation 62 .

(2)  In these regulations, a reference to the Retirement Benefits Act 1982 is to be read as a reference to that Act as amended by the Retirement Benefits Act 1993 .

(3)  The Minister may, by notice published in the Gazette, declare that an enactment, arrangement or agreement is to be a prescribed arrangement for the purposes of these regulations.

(4)  For the purposes of the definition of "salary" in subregulation (1)  –

(a) contributions made by an Agency to a complying superannuation scheme on behalf of a contributor are taken to be included in the contributor's salary; and

(b) a reference to salary in Division 2 of Part 5 is taken to be a reference to salary that is, or has been, paid and not the salary that would have been paid or payable if the contributor had not been participating in an accumulated leave scheme.

(5)  For the purposes of the definition of "service" in subregulation (1) , if a person, having been absent from duty while in receipt of –

(a) a pension paid by the Board on the grounds of total and permanent incapacity; or

(b) a pension paid by the Board on the grounds of partial and permanent incapacity –

under these regulations, is reappointed to an office or position in the service of an Agency, the period during which he or she was so absent is taken to comprise part of his or her service.

(6)  For the purposes of the definition of "State-owned company" in subregulation (1) , the provisions of the Corporations Act relating to control are taken to apply as if the Crown, Government Business Enterprise or statutory authority, as the case may be, were a corporation under that Act.

(7)  A reference in these regulations to a notification or notice of election in writing to the Board includes a notification or notice of election made in any other manner approved by the Board.

4.   Determination of preservation age

Where a person was born during a period mentioned in the first column of the following table, his or her preservation age means the relevant age referred to in the second column of that table or, if another age is prescribed by the SIS Act as the preservation age, that other age.

Date of Birth	Relevant Age
Before 1 July 1960	55 years
1 July 1960 – 30 June 1961	56 years
1 July 1961 – 30 June 1962	57 years
1 July 1962 – 30 June 1963	58 years
1 July 1963 – 30 June 1964	59 years
After 30 June 1964	60 years

5.   Application of regulations

(1)  These regulations apply to –

(a) contributors; and

(b) persons holding a compulsory preservation account; and

(c) persons holding an investment account; and

(d) pensioners; and

(e) persons who may elect to contribute to the contributory scheme in accordance with regulation 29 ; and

(f) persons in receipt of an allocated pension; and

(g) in certain cases, the spouse, surviving partner and beneficiaries of any person mentioned in paragraphs (a) to (f) both inclusive.

(2)  Nothing in subregulation (1) limits the effect of any Act which confers a right on any person to make contributions, or to transfer a lump sum benefit, to an investment account.

6.   Non-application of regulations

(1)  Except as provided by regulations 62 , 63 , 64 , 65 and 67 , these regulations do not apply to –

(a) a person who is employed as an agent only; or

(b) a person whose appointment is honorary; or

(c) a person employed in an Agency as at 1 July 1994 for whom alternative superannuation arrangements have been made by that Agency in substitution for membership of the contributory scheme which, in the opinion of the Board, satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992 of the Commonwealth; or

(d) an employee working in a place outside Australia who, under the laws of that place, is required to make prescribed social security contributions in respect of his or her employment or his or her holding of an office or position by virtue of which he or she is, or but for this regulation would be, an employee within the meaning of these regulations; or

(e) a person employed in an Agency, who is not a member of the contributory scheme or the accumulation scheme; or

(f) a person engaged in an Agency who is not an employee within the meaning of the Superannuation Guarantee (Administration) Act 1992 of the Commonwealth.

(2)  Where a contributor becomes excluded from the application of these regulations under subregulation (1) , he or she is entitled to an amount equal to a lump sum benefit calculated under regulation 52 and that amount is to be preserved in accordance with regulation 54(5) or (6) .

(3)  Except as provided in regulation 57(7) and regulations 85 and 119 , an employee who ceases to be a contributor after the commencement day is not entitled to become a contributor again.

PART 2 - Application of Commonwealth Laws and Principles

7.   Application of Commonwealth superannuation principles

The Board must comply with the principles outlined in the Heads of Government Agreement made on 28 May 1996 between the Commonwealth and Tasmania, as in force immediately before the commencement day, as if those principles were included in these regulations.

8.   Reduction or withholding of benefits

A benefit or any other amount payable under these regulations is to be reduced or withheld if so required to give effect to Part 8 or 9 .

PART 3 - Administration

9.   Constitution, membership and meetings of Board

(1)  The President of the Board is to be appointed by the Governor on the nomination of the Minister made with the agreement of the Tasmanian Trades and Labor Council.

(2)  The remaining members of the Board are to be appointed by the Governor and –

(a) 3 are to be persons nominated by the Minister, one of whom is to be appointed as Deputy President; and

(b) 3 are to be persons of whom –

(i) [Regulation 9 Subregulation (2) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] one is a person elected by –

(A) contributors; and

(B) Members of Parliament to whom the Retirement Benefits (Parliamentary Superannuation) Regulations 2002 apply; and

(C) members of the continued State Fire Commission superannuation scheme; and

(D) members of the continued Tasmanian Ambulance Service superannuation scheme; and

(ii) one is a person elected by members of the accumulation scheme and members who only have an account established under regulation 62 or 68 ; and

(iii) one is a person nominated by the Tasmanian Trades and Labor Council.

(3)  A State Service officer or State Service employee, other than an officer of the Board, is eligible for appointment as a member of the Board, and may hold office as such a member in conjunction with State Service employment.

(4)  Schedule 1 has effect with respect to the election of members of the Board.

10.   Functions and powers of Board

(1)  The functions of the Board are to –

(a) manage the Fund so as to maximise the return earned on the Fund, having regard to –

(i) the need to provide for payments out of the Fund; and

(ii) the need to exercise reasonable care and prudence so as to maintain the integrity of the Fund; and

(iii) any direction made in accordance with regulation 61 ; and

(b) administer the receipt of contributions and voluntary contributions and the payment of benefits having due regard to the need for equity among employees and beneficiaries; and

(c) collect contributions and voluntary contributions and to pay benefits; and

(d) establish policies in respect of the administration of these regulations and the investment of money standing to the credit of the Fund and to adopt strategies designed to achieve those policies; and

(e) determine, authorise and approve programs for the administration of these regulations and the investment of money standing to the credit of the Fund; and

(f) conduct its operations in an efficient, effective and economic manner; and

(g) take, purchase, lease, hold, sell, exchange and dispose of real and personal property for the purposes of these regulations; and

(h) inform contributors about the management of the Fund, including making available to contributors, at least once a year, a summary of information relating to their entitlements; and

(i) provide for the payment of any taxation or surcharge liability imposed under the law of the Commonwealth on the Fund or in respect of any benefits payable by the Board.

(2)  In performing its functions, the Board must have regard to the need to protect information the disclosure of which could adversely affect the financial position or the commercial or other operations of the Board.

(3)  In performing their functions, the members of the Board must –

(a) act honestly in all matters concerning the Fund; and

(b) exercise, in respect of all matters affecting the Fund, the same degree of care, skill and diligence as an ordinary prudent person would exercise in dealing with property of another person for whom that person felt morally bound to provide; and

(c) ensure that the Board's functions and powers are performed and exercised in the best interests of the beneficiaries and, in respect of Part 5 , having regard to the interests of the State; and

(d) keep the money and other assets of the entity separate from any money and assets –

(i) that are held by the member personally; or

(ii) that are money or assets of the State or an Agency; and

(e) subject to these regulations, not enter into any contract, or do anything else, that would prevent the Board from, or hinder the Board in, properly performing or exercising its functions and powers; and

(f) formulate and give effect to an investment strategy that has regard to the whole of the circumstances of the Fund including –

(i) the risk involved in making, holding and realising, and the likely return from, the Fund's investments having regard to its objectives and its expected cash flow requirements; and

(ii) the composition of the Fund's investments as a whole, including the extent to which the investments are diverse or involve the Fund in being exposed to risks from inadequate diversification; and

(iii) the liquidity of the Fund's investments, having regard to its expected cash flow requirements; and

(iv) the ability of the Fund to discharge its existing and prospective liabilities; and

(g) if there are any reserves of the Fund, formulate and give effect to a strategy for the prudent management of those reserves; and

(h) allow a beneficiary access to any information or any documents to which he or she is entitled to access under an Act of the Commonwealth or of Tasmania.

(4)  The Board may do anything necessary or convenient to perform its functions.

11.   Power of Board to engage persons and officers

(1)  Subject to regulations 12 , 13 , 14 and 15 , the Board may –

(a) appoint agents and attorneys; and

(b) act as an agent for other persons; and

(c) engage consultants; and

(d) appoint investment managers and custodians.

(2)  The Board may appoint as officers of the Board any persons it considers necessary for the purpose of enabling it to properly carry out its functions.

(3)  A person who is a member of a House of Parliament of the Commonwealth, or of a State or Territory of the Commonwealth, or a candidate for election as a member of any such House of Parliament, is disqualified from appointment as an officer of the Board and a person holding office as such an officer ceases to hold that office on becoming a candidate for such an election.

(4)  Schedule 2 has effect with respect to –

(a) the appointment and terms and conditions of employment of persons appointed under subregulation (2) ; and

(b) any officer who is a candidate for election as mentioned in subregulation (3) .

(5)  All costs incurred by the Board under this regulation are a charge against the Fund.

12.   Appointment of Chief Executive Officer

(1)  The Board must recommend to the Minister in writing –

(a) a person, other than a member of the Board, suitable for appointment as CEO; and

(b) the remuneration and allowances to be paid to the CEO.

(2)  The Minister is to consider the Board's recommendation under subregulation (1)(a) and –

(a) appoint as CEO the person recommended by the Board as suitable; or

(b) reject the Board's recommendation and request the Board to recommend another person for appointment.

(3)  The CEO is entitled to the remuneration and allowances determined by the Minister, taking into account the Board's recommendation under subregulation (1)(b) , and specified in the instrument of appointment.

(4)  The remuneration and allowances specified in the instrument of appointment are to be paid by the Board.

13.   Conditions of appointment of CEO

(1)  A person appointed as CEO –

(a) holds office –

(i) for a term of not more than 5 years specified in the instrument of appointment; and

(ii) on the conditions specified in that instrument; and

(b) is eligible for reappointment.

(2)  The CEO must not engage in paid employment outside the duties of the office unless –

(a) the instrument of appointment otherwise allows; and

(b) the CEO receives approval in writing from the Minister.

(3)  The appointment of CEO is not invalid by reason only of a defect or irregularity in the appointment or instrument of appointment.

(4)  Where a person is appointed as CEO –

(a) he or she is not eligible to become a member of the contributory scheme; and

(b) the application of the Public Sector Superannuation Reform Act 1999 extends to the CEO as if he or she were an employee for the purposes of that Act; and

(c) subject to subregulation (5) , he or she is to be a member of the accumulation scheme.

(5)  [Regulation 13 Subregulation (5) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] The CEO may elect by notice in writing given to the Board, either before or after commencing the duties of that office, to become a member of an RSA or a complying superannuation scheme other than the accumulation scheme.

(5A)  [Regulation 13 Subregulation (5A) inserted by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] If the CEO has become a member of an RSA or a complying superannuation scheme that is not the accumulation scheme, he or she may elect at any time while holding office as such to become a member of the accumulation scheme.

(6)  The CEO is entitled to employer superannuation contributions at the rate specified in the Public Sector Superannuation Reform Act 1999 .

(7)  [Regulation 13 Subregulation (7) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] Subregulations (4) , (5) , (5A) and (6) do not apply to a person who, immediately before his or her appointment as CEO, was a member of the contributory scheme.

(8)  [Regulation 13 Subregulation (8) omitted by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] .  .  .  .  .  .  .  .  

(9)  The CEO is an employee for the purposes of the Long Service Leave (State Employees) Act 1994 .

(10)  For the purposes of regulation 11(3) , the CEO becomes a candidate for election as a member of a House of Parliament if the CEO is nominated for that election in accordance with the law regulating the election.

(11)  Clause 7 of Schedule 2 applies to the CEO as if he or she were an officer of the Board.

14.   Functions and duties of CEO

(1)  The CEO is responsible to the Board for the general administration of the Scheme and management of the Fund.

(2)  In performing his or her functions or exercising his or her duties, the CEO must –

(a) ensure that the decisions and activities of the officers of the Board are directed towards achieving the Board’s objectives; and

(b) ensure that the Board has access to the skills, facilities and resources required to achieve the Board’s objectives; and

(c) ensure that the Board’s activities are conducted in an efficient and economical manner; and

(d) manage the research and development activities of the Board; and

(e) provide advice to the Board on issues affecting the administration of the Act.

(3)  The CEO is the Secretary to the Board.

15.   Termination of appointment of CEO

(1)  The Board –

(a) may recommend to the Minister that the appointment of the CEO be terminated; and

(b) if it so recommends, must provide the Minister with reasons, in writing, for that recommendation.

(2)  The Minister, after consulting with the Board or receiving a recommendation under subregulation (1)(a) , may terminate the employment of the CEO in accordance with the instrument of appointment.

16.   Corporate plan

(1)  In respect of each financial year, the Board must prepare a corporate plan for the management, administration and investment of the Fund and subfunds established under the Act and the Trust Deed.

(2)  The Board must provide a draft of the corporate plan to the Minister not later than 60 days before the day on which the corporate plan is to take effect.

(3)  The Minister may authorise the Board to provide the draft of a corporate plan under subregulation (2) on a day that is later than the day specified in that subregulation.

(4)  When a draft corporate plan is approved by both the Minister and the Board, it becomes the corporate plan of the Board.

(5)  A corporate plan takes effect on the first day of the financial year next commencing after its approval by the Minister and Board or, if a day for its commencement is specified in that approval, on that day.

(6)  The Board may prepare an amendment of its corporate plan at any time.

(7)  An amendment to a corporate plan may be in the form of a new corporate plan that replaces the existing corporate plan.

(8)  An amendment of a corporate plan takes effect –

(a) when it has been approved by the Minister; or

(b) if a day for its commencement is specified in the approval of the Minister, on that day.

17.   Consultation with Minister

In the course of preparing a draft corporate plan, the Board must consult with the Minister in respect of the interests of the State as a whole and the long-term objectives of the Board as trustee of the Fund.

18.   Statement of corporate intent

(1)  The statement of corporate intent of the Board is a summary of its corporate plan.

(2)  The statement of corporate intent must not disclose any information which the Board considers may, if disclosed –

(a) disadvantage or cause damage to the Board; or

(b) enable another person, directly or indirectly, to gain an advantage.

(3)  The statement of corporate intent is to be in a form and contain the information agreed by the Board having regard to any superannuation policy notified to it by the Minister.

19.   Annual reports of Board

(1)  The Board must, in respect of each financial year, prepare an annual report containing –

(a) a report of its operations during the financial year; and

(b) an audited statement of the financial position of the Fund; and

(c) a summary of the most recent report prepared by the Actuary showing the superannuation liabilities of the State and each prescribed authority; and

(d) the statement of corporate intent relating to the corporate plan that takes effect at the beginning of the next financial year; and

(e) a report on the performance of the Board during the financial year compared with the performance indicators specified in the corporate plan for that financial year; and

(f) any information required to be included in the annual report by any enactment; and

(g) any other information that the Board considers is appropriate to give proper information to the Minister and Parliament as to the performance and progress of the Board during the relevant financial year.

(2)  The Board is to submit the annual report to the Minister to enable the Minister, on or before 30 November in each year, to cause copies of the report to be laid before each House of Parliament.

(3)  If the Minister is unable to comply with subregulation (2) because either House of Parliament is not sitting, the Minister must –

(a) on 30 November following the end of the financial year –

(i) forward copies of the annual report to the Clerk of that House; and

(ii) make the annual report available to the public; and

(b) within the next 7 sitting-days of that House, cause copies of the annual report to be laid before that House.

(4)  If 30 November in any year is a Sunday or a day that is a statutory holiday as defined in the Statutory Holidays Act 2000 , it is sufficient compliance with this regulation if, on the next day that is not a Sunday or such a statutory holiday, copies of the annual report –

(a) are forwarded to the Clerk of the Legislative Council and the Clerk of the House of Assembly; and

(b) are made available to the public.

(5)  The Board must, each year, distribute to each person entitled to a benefit under these regulations –

(a) a report of the Board's activities during the previous financial year; and

(b) a statement of any money or benefit entitlement held by the Board in respect of that person; and

(c) a statement of the estimated surcharge liability payable under Part 8 in respect of that person.

20.   Appointment of Actuary

The Minister may appoint a person or organisation as the Actuary for the purposes of these regulations for any period, and on any terms and conditions, specified in the instrument of appointment.

PART 4 - Retirement Benefits Fund

21.   Operation of Fund

(1)  There is to be paid into the Fund –

(a) [Regulation 21 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] all contributions, voluntary contributions, spouse contributions, additional employer contributions, roll-over superannuation benefits, directed termination payments or other money authorised to be paid into the Fund by persons entitled to benefits under these regulations, the Trust Deed or as otherwise required by law; and

(b) all payments required by or under these regulations or the Trust Deed, or as otherwise required by law, to be made to the Fund by the Minister or a prescribed authority; and

(c) all income derived from the investments made under regulation 22 but without taking into account unrealised capital gains or losses; and

(d) all money required or authorised by these regulations or the Trust Deed, or as otherwise required by law, to be paid by any person to the Board; and

(e) all money, investments and assets that are transferred to, and vested in, the Board by the Act.

(2)  The management and control of the Fund are vested in the Board.

(3)  All money that is payable into the Fund is to be paid to the Board.

(4)  The Board must pay out of the Fund –

(a) all benefits and other amounts payable under these regulations or the Trust Deed, or as otherwise required by law; and

(b) the expenses and remuneration incurred for services that are authorised and carried out for the purposes of administration of these regulations or the Trust Deed, or as otherwise required by law; and

(c) any taxation, surcharge or other liability, duty or fee imposed on the Fund under a law of the Commonwealth or the State.

22.   Investment of Fund

(1)  Subject to this regulation, money standing to the credit of the Fund may be invested by the Board or with any investment manager in any manner which the Board thinks fit.

(2)  The Board may authorise an investment manager to perform the powers and duties of the Board with respect to all or part of the money of the Fund available for investment.

(3)  Whether or not the Board appoints an investment manager, the Board must, at least every 12 months, conduct a review of –

(a) its investment policy; and

(b) the management and performance of its investments.

(4)  Without limiting the generality of subregulation (1) , money standing to the credit of the Fund may be invested on first mortgage of real property in the State, including a completed flat that is held in fee simple to which a strata plan registered under the Strata Titles Act 1998 relates.

(5)  Subregulation (4) applies to a mortgage or further charge under which, or in respect of which, the investment manager has priority over all other persons.

23.   Actuarial investigations of Fund

(1)  An investigation as to the state and sufficiency of the Fund is to be made on the expiration of each period of 3 years commencing on 30 June 2007.

(2)  An investigation for the purposes of subregulation (1) is to be made by the Actuary who, not later than 12 months after the date on which the investigation is to be made, must prepare a report giving full particulars of the investigation and give a copy of the report to the Minister and the Board.

(3)  The Actuary must include in the report –

(a) a statement as to whether any change should be made in –

(i) the basis on which, or the extent to which, lump sum entitlements may be converted into pension payments under Part 7 ; and

(ii) the proportion in which the contributions required to be paid to the Fund under regulations 106 and 107 by the Minister and by a prescribed authority are to be paid; and

(iii) the contributions to be paid to the Fund by the Minister in respect of a subfund established for persons who are, or have been, elected as members of Parliament; and

(b) a statement of the financial position with respect to the current and future liabilities for pension and lump sum benefit entitlements, including any liabilities payable by the Fund under the law of the Commonwealth; and

(c) a statement as to any liability for benefit payments not expected to be paid out of the assets of the Fund or any future contributions; and

(d) any other matters which the Actuary may consider appropriate.

(4)  In making an investigation under subregulation (1) , the Actuary must prepare a report in respect of each prescribed authority and must give a copy of the report to –

(a) the Board; and

(b) the prescribed authority; and

(c) the Minister –

within 12 months after the date on which the investigation is required to be made.

(5)  The cost of an investigation under subregulation (4) into each prescribed authority is to be met by the prescribed authority.

(6)  The Board must provide a copy or extract of the Actuary's report prepared in accordance with subregulation (2) to a contributor on written request.

(7)  The Actuary, when requested by the Board or as required under the law of the Commonwealth, must provide the Board with such actuarial information as is necessary for the Board to satisfy its obligations under the law of the Commonwealth.

(8)  The Actuary may, from time to time, make comments and provide advice to the Minister or the Board on any matter or thing relating to, or arising out of, these regulations.

(9)  The Actuary, when requested by the Board to do so, must –

(a) determine a notional surchargeable contributions factor for each contributor or class of contributors; and

(b) advise the Board of that factor so as to enable the Board to satisfy its obligations under a Commonwealth Surcharge Act.

24.   Power of Board to borrow

(1)  The Board may request a loan of money from the Minister to make any payment that it is required to make under these regulations and the Minister may, out of money available to him or her, lend to the Board the money so requested or any part of that money that the Minister determines.

(2)  The Minister must not lend money to the Board for a period exceeding one month.

(3)  The Board must pay to the Minister interest on any money lent to it under this regulation at any rate that the Minister determines.

25.   Minister's guarantee

(1)  The Minister, on behalf of the State, must guarantee the payment of contributions required to be made to the Fund by an Agency if that Agency fails to make those contributions within 28 days after a claim is made by the Board.

(2)  Any payment guaranteed by the Minister is to be paid to the credit of the Fund within 7 days after a demand for it is made by the Board.

(3)  Any money paid to an investment account established or maintained under regulation 62 , including interest earned on that money is not guaranteed by the Minister.

26.   Accounts and records

(1)  The Board must ensure that there are proper accounts and records kept of the transactions and affairs of the Board and any other records as will sufficiently explain the financial operations and position of the Board.

(2)  The Board is to do all things necessary to –

(a) ensure that all money payable to the Board is properly collected; and

(b) ensure that all money expended by the Board is properly authorised; and

(c) ensure that adequate control is maintained over assets owned by, or in the custody of, the Board; and

(d) ensure that all liabilities incurred by the Board are properly authorised; and

(e) develop and maintain an adequate budgeting and accounting system; and

(f) develop and maintain an adequate internal audit system.

(3)  As soon as practicable after 30 June in each year, the Board must prepare a statement of accounts, in a form approved by the Auditor-General, having regard to subregulation (4) , showing a true and correct view of the financial position of the Fund as at that date and the transactions of the Fund with respect to the period of 12 months ending on that date.

(4)  For the purposes of subregulation (3) , the investments of the Fund are to be shown at market value as at 30 June in each year, with unrealised capital gains and losses being brought to account.

PART 5 - Membership, Contributions and Benefits of Contributory Scheme

Division 1 - Preliminary

27.   Application of Part 5

This Part does not apply to an employee, within the meaning of the Public Sector Superannuation Reform Act 1999 , who is or was appointed or engaged on or after 15 May 1999.

28.   Calculation of salary sacrifice contributions

For the purposes of this Part, where salary sacrifice contributions are made to the contributory scheme on behalf of a contributor, the amount to be remitted is to be determined by reference to a percentage of the relevant contributor’s salary calculated in accordance with the following formula:

where –

PS is the percentage of salary;

ROC is the rate of contribution at which the contributor has elected to contribute under regulation 33 ;

CT is the rate of contributions tax payable in accordance with the law of the Commonwealth.

Division 2 - Membership

29.   Persons who may elect to join contributory scheme

(1)  A person who –

(a) was employed in a permanent part-time capacity in an Agency before 1 July 1994; and

(b) has been continuously employed in an Agency since that date; and

(c) has not previously elected to contribute to the contributory scheme –

may elect, by notice in writing to the Board, to contribute to that scheme on and from the commencement of the first full pay period occurring after the election is received by the Board.

(2)  A person who –

(a) was a married female employee and was employed in an Agency before 1 July 1982; and

(b) has been continuously employed in an Agency since that date; and

(c) is not contributing to the contributory scheme –

may elect, by notice in writing to the Board, to contribute to that scheme on and from the commencement of the first full pay period occurring after the election is received by the Board.

(3)  If a person who –

(a) was a permanent employee immediately before 1 April 1987; and

(b) did not contribute to the contributory scheme because he or she was not permitted to contribute on medical grounds; and

(c) has been continuously employed in an Agency since that date –

that person continues to be exempt from contributing unless he or she elects, by notice in writing to the Board, to contribute to the contributory scheme on and from the commencement of the first full pay period occurring after the election is received by the Board.

30.   Exemption from contributing

(1)  A person may be exempted from contributing as provided in this regulation.

(2)  Where a contributor satisfies the Board that he or she has made adequate provision for superannuation otherwise than under these regulations, the Board may exempt him or her from contributing.

(3)  Where a married female permanent employee –

(a) commenced continuous employment in an Agency before 1 July 1982; and

(b) is a contributor to the Fund –

that employee may, by notice in writing to the Board, elect not to continue to contribute to the Fund.

(4)  A contributor who ceases to be a permanent employee but remains employed in a temporary capacity, by notice in writing to the Board, may elect to exempt himself or herself from contributing to the Fund.

(5)  A contributor who is employed by a prescribed authority which, with the approval of the Minister, has elected to participate in a scheme other than a scheme established or continued under these regulations by notice in writing to the Board, may elect to exempt himself or herself from contributing to the Fund.

(6)  If a permanent employee –

(a) is exempt from contributing under these regulations; or

(b) was previously exempt under the former superannuation legislation –

that employee is not obliged to contribute to the Fund unless, by notice in writing, the employee elects to contribute to the Fund on and from a date determined by the Board having regard to the wishes of the employee.

(7)  For the purposes of subregulation (6) , the reference to a permanent employee is taken to include a reference to a married female employee who –

(a) has been continuously employed since 1 July 1982; and

(b) is not contributing to the Fund.

(8)  If the date which the Board determines under subregulation (6) is before the date of the employee's election under that subregulation, the Board may require the employee or employing Agency, as is appropriate, to pay, within a period fixed by the Board, the amount of any contributions that would have been payable from the date determined by the Board, together with any interest that the Board determines to be payable on that amount.

(9)  The amount referred to in subregulation (8) may not be paid as salary sacrifice contributions.

(10)  On and from the date determined by the Board under subregulation (6) , an employee to whom that subregulation applies is taken to be a permanent employee within the meaning of this Part.

(11)  If a contributor to whom subregulation (2) , (3) , (4) or (5) applies is granted an exemption from contributing –

(a) he or she ceases to be a contributor on the day on which the exemption is granted; and

(b) he or she is entitled to an amount equal to the lump sum benefit as provided in regulation 52 , to be distributed as follows:

(i) five-sevenths or any other proportion that the Minister, on the advice of the Actuary, determines of the lump sum benefit that would have been payable if that person had always contributed at the basic contribution rate is to be transferred to an account established under regulation 67 in the name of that person;

(ii) the balance is to be transferred to an account in the accumulation scheme in the name of that person.

(12)  A contributor who is employed under a prescribed contract of employment that makes provision for alternative superannuation arrangements in substitution for membership of the contributory scheme established under Part 5  –

(a) is not entitled to continue to contribute to the Fund; and

(b) is entitled to an amount equal to the lump sum benefit as provided in regulation 52 , to be distributed as follows:

(i) five-sevenths or any other proportion that the Minister, on the advice of the Actuary, determines of the lump sum benefit that would have been payable if that person had always contributed at the basic contribution rate is to be transferred to an account established under regulation 67 in the name of that person;

(ii) the balance is to be transferred to an account established in the accumulation scheme in the name of that person.

31.   Purchase of certain periods of service

(1)  A contributor who –

(a) immediately before becoming a contributor, was a student teacher, cadet, apprentice or a trainee of any other kind employed in an Agency; or

(b) immediately before becoming a contributor, was an employee within the meaning of these regulations or the former superannuation legislation; or

(c) elected not to make contributions under regulation 38(2)(b) or regulation 38(5) of these regulations, or regulation 30 of the Retirement Benefits Regulations 1994 , while on parental leave; or

(d) has not made contributions while on long leave of absence without pay in accordance with regulation 39 of these regulations or regulation 30 of the Retirement Benefits Regulations 1994 ; or

(e) had been a member of the contributory scheme but had ceased to be a member; or

(f) had, as a married female employee, elected not to pay contributions or had not been obliged to make contributions; or

(g) had previously been exempted from making contributions to the contributory scheme under the former superannuation legislation –

may, by notice in writing to the Board, elect that his or her period or periods of non-contributory or prior service, or a specified part of that period or those periods, be recognised as service for the purposes of this Part.

(2)  An existing contributor whose service has been reduced in accordance with clause 2 or 3 of Part 3 of Schedule 5 may, by notice in writing to the Board, elect that his or her period or periods of reduced service or any specified part of that service be recognised as service for the purposes of these regulations.

(3)  If a contributor has made an election under subregulation (1) or (2) , he or she may, subject to subregulation (4) , enter into one or more arrangements with the Board, either immediately or at some future time or both, under which the whole or part of the period of service referred to in the election is recognised as service as a contributor to the Fund.

(4)  Before accepting an election by a contributor under this regulation, the Board may direct that the contributor –

(a) undergo any reasonable medical examination by a legally-qualified medical practitioner; and

(b) provide the Board with a report of that examination to the satisfaction of the Board that the contributor is not affected by any physical or mental defect likely to render him or her incapable of performing his or her duties before attaining the age of 60 years.

(5)  If a contributor enters into an arrangement under subregulation (3) , he or she is to pay to the Board an amount calculated in accordance with the following formula:

where –

A is the amount to be paid to the Fund by the contributor;

B is the full-time equivalent average annual salary received by the contributor in respect of the year immediately preceding the date of the calculation;

PBMF is the purchased benefit multiple factor calculated by multiplying the period or periods of the contributor's past full-time equivalent service by the appropriate benefit multiple factor as provided in regulation 44(1) for each of those periods;

C is the percentage, as determined by the Actuary, applicable to the contributor, having regard to his or her age when he or she enters into the arrangement, his or her age for retirement and all other relevant factors, which is to be the actuarial equivalent of the additional total benefit that will be derived under these regulations if the contributor purchases the service and pays the amount calculated in accordance with this subregulation.

(5A)  [Regulation 31 Subregulation (5A) inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] A contributor may not enter into an arrangement under subregulation (3) if to do so would cause the contributor to exceed his or her non-concessional contributions cap for a financial year.

(6)  The amount calculated under subregulation (5) may not be paid as salary sacrifice contributions and the contributor may not purchase service at a rate exceeding 11% of salary.

(7)  An amount required to be paid under an arrangement referred to in subregulation (3) is to be paid in a lump sum or in any manner the Board determines but not later than 12 months after the contributor enters into the arrangement.

(8)  On receipt of a lump sum under subregulation (7) , the Board is to –

(a) credit to the next claim payable to the Fund by the Minister or prescribed authority under regulation 107 , the proportion of the amount determined under regulation 106 ; and

(b) credit to the contributor's account established under regulation 42 so much of that lump sum as represents the arrears of the contributions and interest that accrued on and after 1 April 1987 on those arrears; and

(c) retain the balance in the contributory scheme.

32.   Recognition of service prior to commencement day

(1)  Where a person –

(a) became a contributor before the commencement day; and

(b) continues to be a contributor on or after that date –

any period of service to which that person was entitled to be credited under the former regulations is taken to be service for the purposes of this Part.

(2)  For the purposes of subregulation (1) , any period of service is to be expressed in years and, in the case of a contributor who was employed on a full-time basis before 1 July 1994 and continued to be so employed throughout the period of service, is to be calculated as a period or periods comprising service equivalent to –

(a) the 40 years' service scheme at the higher rate of contribution; or

(b) the 40 years' service scheme at the lower rate of contribution; or

(c) the 35 years' service scheme; or

(d) the 30 years' service scheme –

or, if he or she had at any time been employed otherwise than on a full-time basis, his or her length of service is to be calculated as a period or periods of full-time service equivalent to –

(e) the 40 years' service scheme at the higher rate of contribution; or

(f) the 40 years' service scheme at the lower rate of contribution; or

(g) the 35 years' service scheme; or

(h) the 30 years' service scheme.

Division 3 - Contributions

33.   Obligation of certain employees to contribute

(1)  Except as provided in regulations 30 , 34 and 60 , an employee under the age of 70 years who –

(a) is an existing contributor; or

(b) is an amalgamated contributor; or

(c) became a permanent employee on or after 1 July 1994 and before 15 May 1999; or

(d) has elected to contribute to the contributory scheme under –

(i) the Public Sector Superannuation Reform Act 1999 ; or

(ii) the former regulations; or

(iii) regulation 29 of these regulations –

must contribute to the contributory scheme until attaining the age of 70 years.

(2)  A contributor who has entered into an agreement with his or her employing Agency to have salary sacrifice contributions paid to the Fund on his or her behalf –

(a) is, while the agreement is in force, taken to have satisfied any requirement under this Part to make contributions to the contributory scheme; and

(b) may not make member contributions during any period when the salary sacrifice contributions are being paid to the Fund.

(3)  A person who, immediately before the commencement day, was a contributor must continue to contribute at his or her commensurate rate of contribution unless he or she elects in writing to the Board to contribute under this regulation at another rate of contribution.

(4)  A person who becomes a contributor under these regulations must contribute at the rate provided in regulation 36(3) unless he or she elects in writing to the Board to contribute under this regulation at a higher rate of contribution.

(5)  A person who makes an election under subregulation (3) or (4) must specify in that election his or her rate of contribution, which is to be a rate consisting of multiples of 1% of salary, with the minimum rate of contribution being 5% of salary and the maximum rate of contribution being 15% of salary.

(5A)  [Regulation 33 Subregulation (5A) inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] A contributor may not increase his or her rate of contribution under subregulation (3) or (4) if to do so would cause the contributor to exceed his or her non-concessional contributions cap for a financial year.

(6)  If, under subregulation (3) or (4) , a contributor elects to increase the rate of contributions retrospectively, he or she must, subject to subregulation (10) , enter into an arrangement with the Board for the payment of an amount calculated in accordance with the following formula:

where –

A is the amount to be paid to the Fund by the contributor;

B is the full-time equivalent average annual salary received by the contributor in respect of the year immediately preceding the date of the upgrade calculation;

PBMF is the purchased benefit multiple factor calculated by multiplying the period or periods of the contributor's past full-time equivalent service by the appropriate benefit multiple factor as provided in regulation 44(1) for each of those periods;

C is the percentage, as determined by the Actuary, applicable to the contributor, having regard to –

(a) his or her age when he or she enters into the arrangement; and

(b) the period remaining until he or she attains the age of 65 years; and

(c) all other relevant factors –

which percentage is to be the actuarial equivalent of the additional total benefit that will be derived under these regulations if the contributor purchases the service and pays the amount calculated in accordance with this subregulation.

(6A)  [Regulation 33 Subregulation (6A) inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] A contributor may not elect to pay contributions retrospectively if –

(a) to do so would require the contributor to enter into an arrangement under subregulation (6) for the payment of an amount to the Fund by the contributor; and

(b) the payment of that amount to the Fund by the contributor would cause the contributor to exceed his or her non-concessional contributions cap for a financial year.

(7)  The amount calculated under subregulation (6) may not be paid as salary sacrifice contributions.

(8)  A contributor may not elect to pay contributions retrospectively at a rate exceeding 11% of salary.

(9)  On receipt of the amount calculated under subregulation (6) , the Board is to –

(a) credit to the contributor's account established under regulation 42 so much of that amount as represents the arrears of the contributions and interest that accrued on and after 1 April 1987 on those arrears; and

(b) retain the balance in the contributory scheme.

(10)  Before accepting an election by a contributor under this regulation, the Board may direct that the contributor –

(a) undergo any reasonable medical examination by a legally qualified medical practitioner; and

(b) provide the Board with a report of that examination to the satisfaction of the Board that the contributor is not affected by any physical or mental defect likely to render him or her incapable of performing his or her duties before attaining the age of 60 years.

(11)  An amount required to be paid under an arrangement under subregulation (6) is to be paid in a lump sum or in any manner that the Board determines but not later than 12 months after the contributor enters into the arrangement.

(12)  Where a contributor pays to the Board the amount required under an arrangement referred to in subregulation (6) , his or her benefit is to be calculated as if he or she had, in respect of the period for which the arrangement had been made, at all times during his or her service contributed at the higher rate of contribution.

(13)  If a contributor does not pay to the Board the amount required under an arrangement referred to in subregulation (6) , he or she is taken to have commenced to contribute to the Fund at the higher rate of contribution on the day that the Board determines.

(14)  A contributor who has made an election to pay contributions above the basic contribution rate may, by notice in writing to the Board, elect to revoke or vary that election.

(15)  If a contributor has revoked his or her election to pay additional contributions above the basic contribution rate, the Board may refund –

(a) the part of the balance of the contributor's account under regulation 42 as at 30 June 1999 which relates to those additional contributions together with interest accrued as at that date, if the Board is satisfied that the contributor would suffer financial hardship on failure to make that refund; and

(b) the total of all excess contributions paid above that rate after 30 June 1999 together with interest accrued after that date, but only where regulated superannuation funds are permitted under the SIS Act to make such a payment in similar circumstances.

(16)  On payment of a refund of additional contributions under subregulation (15) , the contributor is taken to have contributed at the basic contribution rate during the period of service to which the refund of those additional contributions relates.

34.   Commencement and cessation of contributions

(1)  The contributions of a permanent employee are to commence on the day on which he or she is appointed to the office or position by virtue of which he or she is an employee.

(2)  The contributions of a person to whom regulation 29 refers commence on the commencement of the first full pay period occurring after the election under that regulation is received by the Board.

(3)  Except as provided in subregulations (4) and (5) , contributions cease to be payable on the day on which –

(a) a contributor ceases to be an employee; or

(b) a contributor ceases permanent employment and immediately commences work as a casual employee or work that is casual in nature; or

(c) a contributor ceases temporary employment or employment which is temporary in nature and immediately commences work as a casual employee or work that is casual in nature; or

(d) a contributor attains the age of 70 years; or

(e) a contributor who has attained the age of 65 years and who, having regard to his or her level of employment, would not in similar circumstances be permitted under the SIS Act to contribute to a regulated superannuation fund.

(4)  The contributions of a permanent employee who contributes to the Fund as an amalgamated contributor cease to be payable –

(a) with respect to the part of the employee's contributions that is applicable to his or her superannuation units as if section 18 of the Superannuation Act 1938 was still in force; and

(b) with respect to the part of the employee's contributions that is payable after the commencement day, on the day on which he or she ceases, for any reason, to be an employee or on the day on which he or she attains the age of 70 years, whichever is the earlier.

(5)  A person who has attained the age of 65 years and who remains an employee may, by notice in writing to the Board, elect not to continue to contribute to the contributory scheme.

(6)  For the purposes of subregulation (5) , contributions cease to be payable on the commencement of the first full pay period after the election is received by the Board.

(7)  Where contributions cease to be payable by a contributor as mentioned in subregulation (3)(b) or (c) , the contributor, subject to regulation 54  –

(a) is entitled to an amount equal to a lump sum benefit calculated under regulation 47 , 52 or 53 , as may be applicable; and

(b) [Regulation 34 Subregulation (7) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] is to be admitted as a member of the accumulation scheme, unless he or she becomes a member of an RSA or a complying superannuation scheme other than the accumulation scheme.

35.   Time and manner of paying contributions

(1)  Except as otherwise provided in these regulations, the contributions of a contributor are to be paid at such periods and in such manner as are determined by the Board.

(2)  A responsible officer is to –

(a) prepare a return for every pay period showing the total amount of salary and contributions payable in respect of each contributor in respect of whom he or she is the responsible officer; and

(b) forward that return to the Board; and

(c) in the case of a contributor whose salary is paid out of the Consolidated Fund, forward, on request by the Minister, a copy of the return to the Minister.

(3)  The return is to be in a form approved by the Board.

36.   Rates of contributions and related matters

(1)  The contributions payable by, or on behalf of, a contributor who is not an amalgamated contributor and who was making contributions immediately before the commencement day are to be at the rate of those contributions, unless he or she elects to contribute at another rate under regulation 33 .

(2)  The contributions payable by an amalgamated contributor are, at all times, to be made at the basic contribution rate applicable to him or her.

(3)  The contributions payable by a person who becomes a contributor under these regulations are to comprise 5% of salary unless he or she elects to contribute at a higher rate under regulation 33 .

(4)  Where an amount calculated in accordance with this regulation includes a fraction of a cent –

(a) if the fraction is 0.5 cents or more, that amount is to be increased to the next highest whole number of cents; or

(b) if the fraction is less than 0.5 cents, that amount is to be reduced to the next lowest whole number of cents.

37.   Leave and compulsory superannuation contributions at contributor cost

(1)  This regulation does not apply to an amalgamated contributor.

(2)  Subject to subregulation (6) , the contributions payable to the Fund by or on behalf of a contributor are to continue to be paid while he or she is –

(a) on any leave with full pay; or

(b) on short leave of absence without pay; or

(c) on sick leave on less than full pay or without pay; or

(d) receiving an interim invalidity pension under regulation 57 ; or

(e) participating in an accumulated leave scheme.

(3)  The rate of contribution payable under subregulation (2) is the rate at which the contributor would have been required to contribute to the Fund if the contributor had continued to receive his or her salary in respect of that period.

(4)  A contributor who is in receipt of an interim invalidity pension under regulation 57 is, for the purposes of this regulation, taken to be on sick leave without pay.

(5)  If the contributor becomes entitled to an increase in salary while absent from duty on any leave referred to in this regulation, his or her obligation to contribute to the contributory scheme is to be calculated with reference to his or her salary as so increased.

(6)  The Board, on the application of a contributor who is on sick leave on less than full pay, on sick leave without pay or on an interim invalidity pension under regulation 57 , may permit the contributor to defer contributions for any period not exceeding 2 years, subject to any conditions as to the future payment of contributions and interest that the Board imposes.

38.   Leave and optional superannuation contributions at contributor cost

(1)  This regulation does not apply to an amalgamated contributor.

(2)  A contributor who is on parental leave may –

(a) elect to pay contributions –

(i) at the rate at which the contributor would have been required to contribute to the Fund if he or she had continued to receive his or her salary in respect of that period; and

(ii) if the contributor becomes entitled to an increase in salary while absent from duty on that leave, at a rate calculated with reference to his or her salary as so increased; or

(b) elect not to pay contributions while absent from duty on that leave.

(3)  An election under subregulation (2) is to be made in writing to the Board within one month, or any extended time that the Board allows, after the contributor commences parental leave.

(4)  If a contributor on parental leave elects to pay contributions, the Board, on the application of the contributor, may permit him or her to defer contributions for any period not exceeding 2 years, subject to any conditions as to the future payment of contributions and interest that the Board imposes.

(5)  If a contributor on parental leave fails to make an election under subregulation (2) , the contributor is taken to have made an election under paragraph (b) of that subregulation.

39.   Leave and optional superannuation contributions at full actuarial cost

(1)  This regulation does not apply to an amalgamated contributor.

(2)  Except as provided in regulation 38 or in this regulation, a contributor on long leave of absence without pay other than sick leave is not permitted to contribute to the contributory scheme.

(3)  A contributor who is on long leave of absence without pay may, while still an employee, purchase recognition of service for the period of that leave under regulation 31 .

(4)  A contributor who is on parental leave and, under regulation 38(2)(b) or regulation 38(5) , elects not to pay contributions while on that leave may, while still an employee, purchase recognition of service for the period of that leave under regulation 31 .

(5)  If a contributor does not purchase recognition of service under subregulation (3) or (4) , the period during which he or she was on long leave of absence without pay or parental leave –

(a) is not counted as part of the contributor’s service for the purpose of these regulations; and

(b) does not affect the contributor’s continuity of service.

40.   Leave without pay for amalgamated contributors

(1)  Subject to subregulation (2) , the contributions payable to the Fund by or on behalf of an amalgamated contributor are to continue to be paid while he or she is –

(a) on sick leave on full pay; or

(b) on paid maternity leave; or

(c) on sick leave on less than full pay or without pay; or

(d) on short leave of absence without pay; or

(e) on long leave of absence without pay; or

(f) on parental leave; or

(g) in receipt of an interim invalidity pension under regulation 57 ; or

(h) participating in an accumulated leave scheme.

(2)  The Board, on the application of an amalgamated contributor, may permit him or her to defer contributions for any period not exceeding 2 years, subject to any conditions as to the future payment of contributions and interest the Board imposes.

(3)  An amalgamated contributor who is in receipt of an interim invalidity pension under regulation 57 is, for the purposes of this regulation, taken to be on sick leave without pay.

(4)  The rate of contribution payable under subregulation (1) is the rate at which the amalgamated contributor would have been required to contribute to the contributory scheme if he or she had continued to receive his or her salary in respect of the relevant period.

(5)  If the amalgamated contributor becomes entitled to an increase in salary while absent from duty on any leave referred to in subregulation (1) , his or her obligation to contribute to the contributory scheme is to be calculated by reference to his or her salary as so increased.

41.   Interest and contributions paid for taxation

If a contributor is required under regulation 37 , 38 , 39 or 40 to pay interest or contributions, as determined under regulation 31 , that interest or those contributions are taken to be contributions paid by that contributor for the purpose of any law of the Commonwealth relating to the taxation of superannuation.

42.   Contributors' accounts

(1)  The Board is to establish an account for each contributor and contributions credited to that account and any interest that is credited under subregulation (2) , less any deductions made for contributions tax in accordance with the law of the Commonwealth and provided under regulation 43 , are to vest in the contributor.

(2)  A contributor is entitled to interest on any contributions or other payments made by the contributor to the Board which have been credited to his or her account.

(3)  For the purposes of this regulation –

(a) interest is to be calculated in accordance with regulation 112 ; and

(b) the annual earning rate of the contributory scheme for each relevant financial year is to be determined by the Board on the advice of the Actuary, with unrealised capital gains and losses being brought to account as income and adjusted having regard to –

(i) the cost of administration of the contributory scheme under regulation 105 ; and

(ii) the taxation liability of the contributory scheme.

43.   Deductions against contributors' accounts for death and disability cover

(1)  The Board is to establish within the contributory scheme a death and disability account.

(2)  The Board, having regard to the advice of the Actuary in respect of both the experience of providing death and disability benefits under these regulations and the different commencement date of contributors, is to establish premium rates sufficient to meet fully the cost of death and disability benefits.

(3)  The premium rates established under subregulation (2) are to be determined having regard to the experience of providing death and disability benefits in the preceding financial year and are to have effect for a period of 12 months commencing on 1 October in each year.

(4)  In respect of each contributor under the age of 60 years, the Board is to –

(a) debit the account of that contributor with a premium determined by reference to the salary received by that contributor and the appropriate premium rate established in respect of that contributor under subregulation (2) ; and

(b) credit the sum of the amounts debited under paragraph (a) to the death and disability account.

(5)  As soon as practicable after 30 June in each year, the Board is to debit the death and disability account with an amount that, in the opinion of the Actuary, was required for the provision of the insured component of the death and disability benefits paid under these regulations during the preceding financial year.

(6)  For the purposes of subregulation (5) , in respect of a contributor for whom a pension or lump sum benefit is paid by reason of total and permanent incapacity, partial and permanent incapacity or death, the insured component of that benefit is taken to be an amount equal to the present value of the prospective service component of that pension or benefit, less the present value of the amount paid by the Minister or a prescribed authority to the prospective service component of that pension or benefit paid under regulation 107 .

(7)  For the purposes of subregulation (5) , in respect of a contributor for whom an interim invalidity pension is paid, the insured component of that pension is taken to be the amount of that pension less the amount paid in respect of that pension by the Minister or a prescribed authority under regulation 107 .

(8)  If, at the end of a financial year, the premiums credited to the death and disability account are more than sufficient to meet the cost of death and disability benefits provided under these regulations, the Board is to determine whether to distribute the surplus in the death and disability account amongst the contributors' accounts or to carry it forward to the next financial year.

(9)  If, at the end of a financial year, the premiums credited to the death and disability account are insufficient to meet the cost of death and disability benefits provided under these regulations, the Board is to –

(a) offset the deficiency against the surplus, if any, carried forward from a previous financial year as mentioned in subregulation (8) ; and

(b) where the surplus referred to in paragraph (a) is insufficient to offset the deficiency fully, further debit each contributor's account to the extent necessary to cover the deficiency.

Division 4 - Lump sum benefits

44.   Interpretation of Division 4

(1)  In this Division –

benefit multiple factor means the benefit multiple factor derived by reference to the rate of contribution of a contributor and –

(a) in respect of the service of an existing contributor before 1 July 1993, is as follows:

Contribution rate (% of salary)	Benefit multiple factor
0	0.000
2.75	0.100
5.5	0.200
6	0.206
7	0.217
8	0.229
9	0.242
10	0.254
11	0.267

(b) in respect of the service of a contributor, who is not an amalgamated contributor, on or after 1 July 1993, is as follows:

Contribution rate (% of salary)	Benefit multiple factor
0	0.0000
2.5	0.1000
5	0.2000
6	0.2125
7	0.2250
8	0.2375
9	0.2500
10	0.2625
11	0.2750
12	0.2850
13	0.2950
14	0.3050
15	0.3150

(2)  For the purposes of this Division, where a contributor has been absent on leave without pay, or on less than full pay –

(a) during the period of 3 years immediately preceding the time of his or her –

(i) resignation or dismissal; or

(ii) redundancy or compulsory retirement; or

(iii) retirement due to age, total and permanent incapacity or partial and permanent incapacity; or

(iv) death; or

(b) during the 12 months immediately preceding the commencement of his or her interim invalidity pension –

the contributor's average annual salary is to be calculated as if he or she had continued to be employed in the same capacity on his or her full pay during the whole period.

45.   Calculation of prospective service for contributors employed otherwise than full-time

(1)  Where –

(a) [Regulation 45 Subregulation (1) amended by S.R. 2005, No. 147, Applied:27 Jul 2005] a contributor is employed otherwise than on a full-time basis on the day of the contributor's death or the day of cessation of his or her employment; and

(b) a benefit becomes payable to, or in respect of, that contributor under regulation 50 or 51  –

his or her prospective service is to be calculated in accordance with the following formula:

where –

PS is the contributor's prospective service expressed in years;

A is the period expressed in years commencing on the day immediately following the day of the contributor's death or the day of cessation of his or her employment and ending on the day on which –

(a) he or she would have attained the age of 60 years; or

(b) he or she would have achieved 25 calendar years of service –

whichever is the earlier;

B is the full-time equivalent of the contributor's length of service expressed in years as at the date of retirement or death;

C is the contributor's length of service expressed in years as at the date of retirement or death.

(2)  For the purposes of subregulation (1) , a reference to working otherwise than on a full-time basis is taken to include a reference to working on a part-time basis or participating in an accumulated leave scheme or any similar arrangement.

(3)  Notwithstanding subregulations (1) and (2) , if, after such inquiry as the Board thinks fit, the Board is satisfied that the hours of employment of a contributor were reduced by his or her Agency for medical reasons which subsequently led to his or her death or retirement on total and permanent incapacity or partial and permanent incapacity, the Board may, for the purposes of regulations 50 and 51 , calculate the contributor's prospective service as if the reduction in hours had not occurred.

46.   Adjustment of service and salary for contributors employed otherwise than full-time

(1)  For the purposes of calculating the lump sum benefit to be paid to a contributor who at any time was employed otherwise than on a full-time basis, his or her length of service as such a contributor is to be adjusted to full-time equivalent service.

(2)  For the purpose of calculating the lump sum or pension benefit to be paid to a contributor who, during the final 3 years of service was employed otherwise than on a full-time basis, his or her salary is taken to be the salary that the contributor would have received if he or she had been employed on a full-time basis during that period of service.

47.   Benefit on early retirement of contributors

(1)  If a contributor, other than an amalgamated contributor, retires otherwise than by reason of total and permanent incapacity or partial and permanent incapacity after attaining the preservation age but on or before attaining the age of 65 years, he or she is entitled to a lump sum benefit calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding retirement; or

(b) in the case of a contributor whose length of service at the time of his or her retirement is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PP is the percentage of the lump sum benefit that the contributor has elected, under regulation 79 , to be taken as a pension.

(2)  If an amalgamated contributor retires otherwise than by reason of total and permanent incapacity or partial and permanent incapacity after attaining the preservation age but on or before attaining the age of 65 years, he or she is entitled to a lump sum benefit calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

SB is the pension value of the amalgamated contributor's superannuation units as at 30 June 1982;

DS is the differential salary of the amalgamated contributor which is the FAS(1) of that contributor less the annual salary paid or payable in respect of that contributor as at 30 June 1982;

FAS(1), in the definition of "DS", is the salary paid or payable to the amalgamated contributor in respect of the 12 months immediately preceding the cessation of his or her service or, in the case of a contributor whose length of service at the time of his or her cessation of employment is less than 12 months, the average annual salary paid or payable in respect of the actual period of service;

PP is the percentage of the lump sum benefit that the contributor has elected, under regulation 79 , to be taken as a pension.

(3)  Where a contributor to whom this regulation applies retires, the Board is to pay the benefit calculated under subregulation (1) or (2) to that contributor in accordance with regulation 79 .

48.   Benefit on redundancy or compulsory retirement

(1)  Subject to subregulation (2) and regulation 49 , if –

(a) a contributor is retired for the reason that –

(i) his or her service, office or position is unnecessary; or

(ii) the work for which he or she was engaged is finished; or

(iii) diminution of work necessitates a reduction in the number of employees; or

(b) a contributor, the term of whose appointment is fixed by an Act, is not at the end of a term reappointed to his or her office and does not, by reason of another appointment, continue to be a contributor; or

(c) a contributor, who is a contract employee, ceases to be a contract employee by reason of his or her contract not being renewed by the employer; or

(d) a contributor is retired by virtue of voluntary redundancy under an employment redundancy program or ceases to be a contributor as a result of a prescribed arrangement –

the contributor is entitled to a lump sum benefit calculated in accordance with this regulation.

(2)  If a person ceases to be a contributor under this regulation and has less than 3 years of service, he or she is taken to have resigned and is entitled to a benefit calculated under regulation 52 .

(3)  If a person to whom subregulation (1) refers is a contributor, other than an amalgamated contributor, who is aged less than 60 years, his or her lump sum benefit is to be calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding the cessation of his or her service; or

(b) in the case of a contributor whose length of service at the time of the cessation of his or her service is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service expressed in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PP is –

(a) in the case of a contributor who has attained the preservation age, the percentage of the lump sum that the contributor has elected, under regulation 79 , to be taken as a pension; or

(b) in the case of a contributor who has not attained the preservation age, 0.

(4)  If a contributor to whom subregulation (1) refers is an amalgamated contributor aged 65 years or less, his or her lump sum benefit is to be calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

SB is the pension value of the units purchased by the contributor under the Superannuation Act 1938 as at 30 June 1982;

DS is the differential salary of the amalgamated contributor which is to be the FAS(1) of that contributor less the annual salary paid or payable in respect of that contributor as at 30 June 1982;

FAS(1), in the definition of "DS", is the salary paid or payable to the amalgamated contributor in respect of the 12 months immediately preceding the cessation of his or her service or, in the case of a contributor whose length of service at the time of his or her cessation of employment is less than 12 months, the average annual salary paid or payable in respect of the actual period of service;

PP is –

(a) in the case of a contributor who has attained the preservation age, the percentage of the lump sum that the contributor has elected under regulation 79 to be taken as a pension; or

(b) in the case of a contributor who has not attained the preservation age, 0.

(5)  If a contributor to whom subregulation (1) refers is aged 60 years or more but less than 65 years and is not an amalgamated contributor, his or her lump sum benefit is to be calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding the cessation of his or her service; or

(b) in the case of a contributor whose length of service at the time of the cessation of his or her service is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service expressed in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PBMF is the contributor's prospective benefit multiple factor, calculated by taking the basic contribution rate applicable to the contributor and multiplying the benefit multiple factor prescribed for that rate of contribution under regulation 44 by the contributor's length of prospective service expressed in years, commencing on the day after the day of his or her cessation of employment and concluding on the day when he or she would have attained the age of 65 years;

PP is the percentage of the lump sum benefit that the contributor has elected, under regulation 79 , to be taken as a pension.

(6)  If a contributor to whom subregulation (5) applies is employed or has at any previous time been employed otherwise than on a full-time basis as a contributor, the contributor’s prospective service for the purpose of this regulation is to be calculated in accordance with the following formula:

where –

PS is the contributor’s prospective service expressed in years;

A is the period expressed in years commencing on the day after his or her cessation of employment and ending on the day on which he or she would have attained the age of 65 years;

B is the full-time equivalent of the contributor’s length of service expressed in years as at the date of cessation of his or her service;

C is the contributor’s length of service expressed in years as at the date of cessation of his or her service.

49.   Savings for entitlements of certain contributors under Retirement Benefits Act 1982

(1)  An existing contributor or amalgamated contributor who, under regulation 48(1)(d) , ceases to be a contributor as a result of a prescribed arrangement may, by notice in writing to the Board, elect to receive a benefit under this regulation instead of a benefit under regulation 48 .

(2)  An existing contributor who has at all times contributed at the basic contribution rate is entitled to a lump sum benefit equal to 3.5 times the balance of the contributor's account under regulation 42 together with a sum calculated under regulation 56(5) .

(3)  An existing contributor who has at any time contributed at a rate greater than 5% of salary is entitled to a lump sum benefit equal to the total of –

(a) an amount equal to 3.5 times the part of the balance of the contributor's account under regulation 42 that the contributor would have received if he or she had, at all relevant times, been paying contributions at the basic contribution rate; and

(b) the balance, if any, of that account after deduction of the part referred to in paragraph (a) ; and

(c) an amount calculated under regulation 56(5) .

(4)  An amalgamated contributor is entitled to a lump sum benefit equal to 3.5 times the balance of his or her account under regulation 42 together with an amount calculated under regulation 56(5) .

50.   Benefit for full benefits contributors on death or retirement due to total and permanent incapacity

(1)  Subject to subregulation (2) , where, before attaining the age of 65 years, a full benefits contributor, other than an amalgamated contributor –

(a) dies; or

(b) is determined by the Board to be suffering from total and permanent incapacity in accordance with regulation 118 , and that contributor subsequently retires on the grounds of ill health within 6 months after the date of the Board's decision –

a lump sum benefit is to be calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding his or her death or retirement due to total and permanent incapacity; or

(b) in the case of a contributor whose length of service at the time of his or her death or retirement due to total and permanent incapacity is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PBMF is, subject to regulation 45 , the contributor's prospective benefit multiple factor, calculated by taking the basic contribution rate applicable to the contributor and multiplying the benefit multiple factor prescribed for that rate of contribution under regulation 44 by whichever is the lesser of the following:

(a) the contributor's length of prospective service expressed in years, commencing on the day immediately following the day of his or her death or retirement due to total and permanent incapacity and ending on the day on which he or she would have attained the age of 60 years;

(b) 25 years;

PP is the percentage of the lump sum benefit that the contributor or the surviving partner of the contributor has elected, under regulation 79 , to be taken as a pension.

(2)  Where, before attaining the age of 65 years, an amalgamated contributor –

(a) dies; or

(b) is determined by the Board to be suffering from total and permanent incapacity in accordance with regulation 118 , and that contributor subsequently retires on the grounds of ill-health within 6 months after the date of the Board's decision –

a lump sum benefit is to be calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

SB is the pension value of the amalgamated contributor's superannuation units as at 30 June 1982;

DS is the differential salary of the amalgamated contributor which is to be the FAS(1) of the contributor less the annual salary paid or payable in respect of that contribution as at 30 June 1982;

FAS(1), in the definition of "DS", is –

(a) the salary paid or payable to the amalgamated contributor in respect of the 12 months immediately preceding his or her death or retirement due to total and permanent incapacity; or

(b) in the case of an amalgamated contributor whose length of service at the time of his or her death or retirement due to total and permanent incapacity is less than 12 months, the average annual salary paid or payable in respect of the actual period of service;

PP is the percentage of the lump sum benefit that the amalgamated contributor or the surviving partner of the contributor has elected, under regulation 79 , to be taken as a pension.

(3)  Where a contributor to whom this regulation applies retires on the grounds of total and permanent incapacity, the Board is to pay the benefit calculated under subregulation (1) or (2) to that contributor in accordance with regulation 79 .

(4)  Where a contributor to whom this regulation applies dies, the Board is to pay the benefit calculated under subregulation (1) or (2) in accordance with regulation 130 .

51.   Benefit for limited benefits contributors on death or retirement due to total and permanent incapacity

(1)  Where, before attaining the age of 65 years, a limited benefits contributor –

(a) dies; or

(b) is determined by the Board, in accordance with regulation 118 , to be suffering from total and permanent incapacity and that contributor subsequently retires on the grounds of ill health within 6 months after the date of the Board's decision –

a lump sum benefit is to be calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding his or her death or retirement due to total and permanent incapacity; or

(b) in the case of a contributor whose length of service at the time of his or her death or retirement due to total and permanent incapacity is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service expressed in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

FAS(1) is –

(a) the salary paid or payable to the contributor in respect of the 12 months immediately preceding his or her death or retirement due to total and permanent incapacity; or

(b) in the case of a contributor whose length of service at the time of his or her death or retirement due to total and permanent incapacity is less than 12 months, the average annual salary paid or payable in respect of the actual period of service;

PS is, subject to regulation 45 , the contributor's prospective service expressed in years commencing on the day immediately following the day of his or her death or retirement due to total and permanent incapacity and concluding on the day when he or she would have attained the age of 60 years;

PRC is the relevant rate of employer superannuation contributions specified in the table in section 6(7) of the Public Sector Superannuation Reform Act 1999 , at the date of the contributor's death or retirement due to total and permanent incapacity;

PP is the percentage of the lump sum benefit that the contributor or the surviving partner of the contributor has elected, under regulation 79 , to be taken as a pension.

(2)  Where a limited benefits contributor retires, as mentioned in subregulation (1)(b) , on the ground of total and permanent incapacity, the Board is to pay the benefit calculated under subregulation (1) to that contributor in accordance with regulation 79 .

(3)  Where a limited benefits contributor dies, the Board is to pay the benefit calculated under subregulation (1) in accordance with regulation 130 .

52.   Benefit payable on resignation or dismissal of contributors

(1)  If a contributor ceases, before attaining the preservation age, to be a contributor by reason of –

(a) resignation; or

(b) dismissal –

he or she is entitled to a benefit as provided in this regulation.

(2)  For the purposes of subregulation (1) , the benefit for a contributor who has completed 5 or more years' service as a contributor, otherwise than as an amalgamated contributor, is to be a lump sum benefit calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding resignation or dismissal; or

(b) in the case of a contributor whose length of service at the time of his or her resignation or dismissal is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service expressed in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications.

(3)  For the purposes of subregulation (1) , the benefit for a contributor, other than an amalgamated contributor, who has completed less than 5 years' service as a contributor is to be a lump sum benefit calculated in accordance with whichever of the following formulae provides the greater benefit:

where –

LS is the lump sum benefit payable;

RC is the balance of contributions and interest in the contributor's account established under regulation 42 ;

S is the number of days, expressed in years, for which contributions were received;

SBMF is the State's benefit multiple factor which is –

(a) in respect of a person contributing at the rate of 2.5% of salary, a factor of 0.075; or

(b) in all other cases, a factor of 0.15;

FAS(3) is –

(a) the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding resignation or dismissal; or

(b) in the case of a contributor whose length of service at the time of his or her resignation or dismissal is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;

n is the number of days for which contributions were received;

NCSB is the employer component of the benefit that would have been payable if the contributor had been –

(a) a member of the non-contributory scheme in respect of any period of service before 25 April 2000; and

(b) a member of the accumulation scheme who had not made an election for investment choice under the Trust Deed in respect of any period of service commencing on or after 25 April 2000.

(4)  For the purposes of subregulation (1) , the benefit for an amalgamated contributor is to be a lump sum benefit calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

SB is the pension value of the amalgamated contributor's superannuation units as at 30 June 1982;

DS is the differential salary of the amalgamated contributor which is the FAS(1) of that contributor less the annual salary paid or payable in respect of that contributor as at 30 June 1982;

FAS(1), in the definition of "DS", is the salary paid or payable to the amalgamated contributor in respect of the 12 months immediately preceding his or her resignation or dismissal or, in the case of a contributor whose length of service at the time of his or her resignation or dismissal is less than 12 months, the average annual salary paid or payable in respect of the actual period of service.

53.   Benefit payable on death or retirement after retirement age

(1)  If a contributor, other than an amalgamated contributor, continues to be a permanent employee after attaining the age of 65 years, the contributor is entitled on death or retirement or on attaining the age of 70 years, whichever is the earlier, to a lump sum benefit calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) the average annual salary received by a contributor in respect of the period of 3 years immediately preceding his or her death or retirement or attaining the age of 70 years; or

(b) in the case of a contributor whose length of service at the time of his or her death or retirement is less than 3 years, the average annual salary received in respect of the actual period of service;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service expressed in years to the day when he or she ceased paying contributions under regulation 34(3)(e) or regulation 34(5) at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

SBMF is the State's benefit multiple factor which is –

(a) in respect of a person contributing at the rate of 2.5% of salary, a factor of 0.075; or

(b) in all other cases, a factor of 0.15;

PRS is the contributor's length of service after attaining the age of retirement expressed in years commencing on the day when he or she ceased paying contributions under regulation 34(3)(e) or regulation 34(5) and ending on the day of his or her actual retirement or death or at the age of 70 years, whichever is the earlier;

PP is the percentage of the lump sum benefit that the contributor or the surviving partner of the contributor has elected under regulation 79 to be taken as a pension.

(2)  Where a contributor referred to in subregulation (1) retires, the Board is to pay the benefit calculated under subregulation (1) to that contributor in accordance with regulation 79 .

(3)  Where a contributor referred to in subregulation (1) dies, the Board is to pay the benefit payable under subregulation (1) in accordance with regulation 130 .

54.   Preservation of contributions

(1)  In this regulation –

benefit means a benefit calculated under regulation 48 , 49 or 52 ;

employee component means a benefit less the employer component of that benefit;

employer component means the employer component determined under regulation 106 as if the relevant contributor had always contributed at the basic contribution rate.

(2)  A benefit in respect of a contributor who, at the time of his or her compulsory retirement or redundancy, resignation, dismissal or cessation of employment as a result of a prescribed arrangement, is aged less than the preservation age is to be preserved compulsorily as provided by this regulation until –

(a) the contributor retires from the workforce after attaining the preservation age and elects, by notice in writing to the Board, to receive the benefit; or

(b) the benefit is payable in accordance with regulation 71 .

(3)  A benefit calculated under regulation 48 is to be preserved as follows:

(a) the employee component is to be transferred to an investment account in the name of the contributor;

(b) the employer component is to be transferred to a compulsory preservation account in the name of the contributor –

or, if the contributor so elects –

(c) the total amount of the benefit; or

(d) [Regulation 54 Subregulation (3) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] the total of –

(i) 3.5 times the part of the balance of the contributor's account under regulation 42 that the contributor would have received if he or she had, at all relevant times, been paying contributions at the basic contribution rate; and

(ii) the balance, if any, of that account after deduction of the part referred to in subparagraph (i)  –

whichever total amount is the lesser, is to be transferred to an account in the name of the contributor in the accumulation scheme and the balance is to be transferred to a compulsory preservation account in the name of the contributor.

(4)  A benefit calculated under regulation 49 is to be preserved as follows:

(a) the total benefit is to be transferred to an account in the name of the contributor in the accumulation scheme;

(b) if the contributor so elects, the employee component of the benefit payable is to be transferred to an investment account in the name of the contributor and the employer component of that benefit is to be transferred to a compulsory preservation account in the name of the contributor.

(5)  A benefit calculated under regulation 52(2) or (4) is to be preserved as follows:

(a) the employee component is to be transferred to an account in the name of the contributor in the accumulation scheme;

(b) the employer component is to be transferred to a compulsory preservation account in the name of the contributor.

(6)  A benefit calculated under regulation 52(3) is to be preserved as follows:

(a) the amount standing to the credit of the contributor's account is to be transferred to an account in the name of the contributor in the accumulation scheme;

(b) the balance of the total benefit is to be transferred to a compulsory preservation account in the name of the contributor.

(7)  On application in writing to the Board by a contributor entitled to a benefit under subregulation (3) , (4) or (5) and who was a contributor on 30 June 1999, the Board must pay to him or her an amount calculated in accordance with subregulation (9) , (10) or (11) .

(8)  Subregulation (7) does not apply to a contributor who has made an election under subregulation (4)(b) .

(9)  If the benefit is calculated under regulation 48 , the amount payable is the lesser of the total amount of the benefit and the total of the following amounts:

(a) an amount equal to 3.5 times the part of the balance of the contributor's account under regulation 42 as at 30 June 1999 that the contributor would have received if he or she had, at all relevant times, been paying contributions at the basic contribution rate;

(b) the balance, if any, of that account as at 30 June 1999 after deduction of the part referred to in paragraph (a) .

(10)  If the benefit is calculated under regulation 49 , the amount payable is the total of the following amounts:

(a) an amount equal to 3.5 times the part of the balance of the contributor's account under regulation 42 as at 30 June 1999 that the contributor would have received if he or she had, at all relevant times, been paying contributions at the basic contribution rate;

(b) the balance, if any, of that account as at 30 June 1999 after deduction of the part referred to in paragraph (a) .

(11)  If the benefit is calculated under regulation 52(2) or (4) , the amount payable is the amount of the employee component calculated as at 30 June 1999.

(12)  A contributor who is entitled to be paid an amount in accordance with subregulation (7) may apply in writing to the Board –

(a) to be paid the whole or a part of the amount; or

(b) to transfer the whole or a part of the amount to an account in the name of the contributor in the accumulation scheme.

(13)  If an amount is paid under subregulation (7) , the Board must debit the compulsory preservation account in the name of the contributor with the amount payable under regulation 107 and the amount, if any, payable under regulation 108 .

(14)  If an existing contributor becomes entitled to a lump sum benefit under this Part other than a benefit mentioned in subregulation (2) , the benefit is to be transferred to an account in the name of the contributor in the accumulation scheme.

55.   Minimum benefit for 2.5% contributors and amalgamated contributors

(1)  The minimum benefit payable by the Board to, or on behalf of –

(a) a contributor making contributions at the rate of 2.5% of salary; or

(b) an amalgamated contributor –

is the greater of the benefit calculated under regulation 47 , 48 , 49 , 50 , 51 , 52 or 53 , whichever is appropriate, and the benefit determined in accordance with the following formula:

where –

LS is the benefit payable to the contributor;

RC is the balance of contributions and interest of the contributor’s account established under regulation 42 ;

NCSB is the employer component of the benefit that would have been payable if the contributor had been –

(a) a member of the non-contributory scheme in respect of any period of service before 25 April 2000; and

(b) a member of the accumulation scheme who has not made an election for investment choice under the Trust Deed in respect of any period of service commencing on or after 25 April 2000;

SAFB is the balance as at 30 June 1994 of the contributor's account as an eligible employee under the SAF Agreement indexed at a rate declared by the Board as being equal to whichever is the greater of –

(a) variations in the AWOTE; or

(b) variations in the Consumer Price Index.

(2)  For the purposes of subregulation (1) , the Board is to credit interest on employer superannuation contributions made in respect of the contributor for the relevant period at the same rate as is credited to members of the accumulation scheme in the absence of an election for investment choice under the Trust Deed.

(3)  This regulation is taken to have had effect on 1 July 2003.

56.   Supplemental lump sum benefit payable in certain cases

(1)  If an existing contributor, to whom regulation 47 , 48 , 49 or 53 or clause 7 of Schedule 3 applies, retires and makes an election under regulation 79(13) to receive a pension calculated under Schedule 3 , the Board may pay to the contributor a supplemental lump sum benefit in accordance with this regulation.

(2)  If –

(a) an amalgamated contributor, to whom regulation 47 , 48 or 49 applies, retires and makes an election under regulation 124 to receive a benefit under the Retirement Benefits Act 1982 ; or

(b) an amalgamated contributor, to whom clause 7(2) of Schedule 3 applies, retires –

the Board may pay to the amalgamated contributor a supplemental lump sum benefit in accordance with this regulation.

(3)  With respect to an existing contributor or an amalgamated contributor to whom subregulation (1) or (2) applies, eligibility for a supplemental lump sum benefit is to be calculated in accordance with the following formula:

where –

E is the amount required to determine eligibility for the supplemental lump sum benefit;

A is the amount of the lump sum benefit payable under regulation 47 , 48 or 53 before taking account of any election made under regulation 79 ;

PP is the proportion of the lump sum benefit which the contributor has elected, under regulation 79 , to convert to a pension;

[Regulation 56 Subregulation (3) amended by S.R. 2005, No. 147, Applied:27 Jul 2005] B is the annual amount of pension that would be payable to the contributor under clause 5 , 6 or 8 of Schedule 3 before taking account of any election made under regulation 79 ;

C is the conversion factor derived having regard to the age of the contributor at the date of retirement as follows:

Age	Pension conversion factor
55	11
56	10.8
57	10.6
58	10.4
59	10.2
60	10.0
61	9.8
62	9.6
63	9.4
64	9.2
65	9.0
66	8.8
67	8.6
68	8.4
69	8.2
70	8.0

D is the sum referred to in subregulation (5) , calculated as at the date of the retirement of the contributor.

(3A)  [Regulation 56 Subregulation (3A) inserted by S.R. 2005, No. 147, Applied:27 Jul 2005] Subregulation (3) does not apply to –

(a) an existing contributor to whom clause 7 of Schedule 3 applies; or

(b) an amalgamated contributor to whom clause 7 of Schedule 3 applies.

(4)  If, under subregulation (3) , the product of the formula is negative, a supplemental lump sum benefit is payable and is to be calculated as provided in subregulation (5) .

(5)  For the purposes of this regulation, the supplemental lump sum benefit comprises a sum equal to the balance, as at 30 June 1994, of the contributor's account under the SAF Agreement, indexed at a rate declared by the Board as being equal to whichever is the greater of –

(a) movements in the AWOTE; or

(b) movements in the Consumer Price Index.

(6)  For the purposes of subregulation (5) , the indexation rate declared by the Board is to be reviewed as at 1 January and 1 July in each year in accordance with the AWOTE or Consumer Price Index figure most recently published before that review.

Division 5 - Interim pensions

57.   Interim invalidity pensions

(1)  [Regulation 57 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] Subject to any reduction or suspension under subregulation (4) , if the Board determines, under regulation 118 , that a contributor meets the criteria for interim invalidity and that contributor has been absent from duty on sick leave without pay for a continuous period of 30 days –

(a) that contributor is entitled to a pension equal to 75% of the salary that he or she would have received in respect of the previous period of 12 months if he or she had continued to be employed in his or her usual capacity; and

(b) [Regulation 57 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] that pension is payable from the later of the following days:

(i) the day on which the Board receives the application for an invalidity benefit under regulation 118 ;

(ii) the day after the last day of the period of 30 days' sick leave without pay; and

(c) [Regulation 57 Subregulation (1) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] that pension is payable for a period determined by the Board not exceeding 2 years.

(2)  If, after such inquiry as it thinks fit, the Board is satisfied that a contributor has reduced his or her hours of work for medical reasons, the Board may, for the purpose of subregulation (1) , determine that his or her salary is to be an amount that it considers to be fair and equitable.

(3)  An interim invalidity pension is subject to indexation as provided by regulation 82 .

(4)  The Board may reduce or suspend an interim invalidity pension provided under subregulation (1) in the circumstances mentioned in regulation 85(1) .

(5)  If the period for which an interim invalidity pension payable to a contributor under this regulation has expired, the pension ceases and unless –

(a) the Board grants a total and permanent incapacity benefit to the contributor; or

(b) the Board grants a partial and permanent incapacity benefit to the contributor; or

(c) the contributor returns to duty –

the contributor is taken to have ceased to be a member of the contributory scheme and to have become a member of the accumulation scheme as from the cessation of the interim invalidity pension.

(6)  On the cessation of a contributor's membership under subregulation (5)  –

(a) he or she is entitled to a benefit calculated in accordance with regulation 52 ; and

(b) the Board is to transfer the amount referred to in regulation 54(11) to an account in his or her name in the accumulation scheme.

(7)  If –

(a) the membership of a contributor is transferred from the contributory scheme to the accumulation scheme under subregulation (6) ; and

(b) the contributor subsequently recommences duty in his or her position or any other position within an Agency for which he or she is qualified by education, training or experience –

the Board must, subject to subregulations (8) and (9) , reinstate the contributor’s membership in the contributory scheme as if the transfer had not occurred and adjust the contributor’s entitlements accordingly.

(8)  On the reinstatement of a contributor's membership under subregulation (7)  –

(a) the contributor must, as from the day when he or she recommences duty, contribute to the contributory scheme at the rate at which he or she was contributing before the commencement of his or her interim invalidity pension; and

(b) the period between the cessation of payment of the interim invalidity pension and the recommencement of duty is to be treated, for the purposes of these regulations, as leave without pay.

(9)  The Board is not to reinstate a person as a member of the contributory scheme unless it is satisfied that any gainful employment that he or she has undertaken after the cessation of his or her interim invalidity pension and before his or her recommencement of duty was undertaken in order to facilitate that return to duty.

(10)  An interim invalidity pension ceases to be payable if the interim invalidity pensioner ceases to be an employee.

58.   Interim pensions for surviving partners

(1)  If a contributor dies, the surviving partner of that contributor is entitled to an interim pension equal to 75% of the salary paid or payable to the contributor in respect of the previous period of 12 months of employment.

(2)  If, after such inquiry as it thinks fit, the Board is satisfied that a contributor's hours of employment had been reduced for medical reasons, the Board may, for the purposes of subregulation (1) , determine that his or her salary is to be an amount that it considers to be fair and equitable.

(3)  A pension under subregulation (1) is payable until the surviving partner makes an election under regulation 79 or a period of 3 months elapses, whichever is the earlier.

(4)  An interim pension payable under this regulation is not subject to indexation.

Division 6 - Prescribed arrangements

59.   Declaration of prescribed arrangement

(1)  A declaration of a prescribed arrangement under regulation 3(3) may provide that, on and from a day specified in the declaration, regulation 60 is to have effect in respect of the rights and entitlements of all contributors whose terms of employment are affected by the prescribed arrangement.

(2)  If the declaration provides that regulation 60 is to have effect, the declaration is to specify a commencement day for the purposes of that regulation and, on publication of the declaration, the application of that regulation extends to the contributors accordingly.

60.   Application of prescribed arrangements to contributors

(1)  This regulation applies to contributors to whom a declaration of a prescribed arrangement is expressed to apply.

(2)  Within 60 days after the commencement day specified in the declaration under regulation 59(2) , the Board must, in writing, notify the contributors to whom this regulation applies of –

(a) their entitlements under regulation 48 or, if applicable, regulation 49 and the value of the employer component of those entitlements under regulation 107 ; and

(b) the difference in the level of employer superannuation support provided under regulation 107 for entitlements calculated under this Part and the Trust Deed.

(3)  After receipt of the notification and within 6 months after the commencement day specified in the declaration under regulation 59(2) or a longer period determined by the Board, a contributor may, in writing, notify the Board and the person, organisation or prescribed authority to which the relevant services have been transferred that he or she elects not to continue as a contributor.

(4)  A notice of election under subregulation (3) is to include –

(a) a copy of the notification referred to in subregulation (2) ; and

(b) a statement to the effect that the contributor making the election has taken into account the matters referred to in that notification.

(5)  On making an election under subregulation (3) , a contributor –

(a) is taken to have ceased to be a contributor with effect from a day determined by the Board as a result of the relevant prescribed arrangement; and

(b) is entitled to a lump sum benefit calculated in accordance with regulation 48 or, if applicable, regulation 49 .

(6)  A contributor who does not make an election as mentioned in subregulation (3) is taken to remain as a contributor.

PART 6 - Powers and Duties of Board

Division 1 - Investment accounts

61.   Member investment options

(1)  The Board may provide persons who have an account established or maintained under regulation 62 or 68 with a choice of investment options and may –

(a) establish and maintain such accounts; and

(b) determine an administrative policy and such terms and conditions –

as are necessary for the efficient and effective administration of those investment options.

(2)  Where investment options are provided in accordance with subregulation (1) , the Board must advise each person who has an account established or maintained under regulation 62 or 68 of those investment options, including an investment option that the Board will adopt if no direction is made by that person.

(3)  Subject to subregulation (1) , a person may direct which investment option is to apply to the whole or part of –

(a) the balance standing to the credit of his or her account; and

(b) any future amounts credited to that account.

(4)  A direction made under this regulation is to be in a form or manner approved by the Board and the Board must –

(a) give effect to that direction within 14 working days of receipt of that direction; and

(b) notify the person accordingly.

(5)  The Board may charge a fee to cover any cost of giving effect to a direction made under this regulation.

(6)  In the absence of a direction by a person under this regulation, the Board may invest any money standing to the credit of that person's account in an investment option determined by the Board.

62.   Establishment of investment accounts

(1)  This regulation applies to –

(a) a contributor or a person who immediately before the commencement day held an investment account under the former regulations; and

(b) a person referred to in regulation 6(1)(c) , (d) , (e) or (f) and the spouse of any such person; and

(c) a person for whom an account has been established under regulation 100 ; and

(d) a person whose benefit has been preserved under regulation 54(4)(b) .

(2)  In accordance with these regulations, the Board may establish and maintain investment accounts for the purpose of receiving voluntary contributions, additional employer contributions, spouse contributions or benefit entitlements paid by, or on behalf of, a person to whom this regulation applies.

(3)  The Board must credit to investment accounts –

(a) all voluntary contributions or spouse contributions paid under regulation 63 by, or on behalf of, a person to whom this regulation applies; and

(b) all additional employer contributions paid by an Agency under regulation 64 on behalf of a person to whom this regulation applies; and

(c) any benefit paid into the Fund under regulation 65 ; and

(d) the balance of an account transferred under regulation 67(5) ; and

(e) interest applied under regulation 113(3) ; and

(f) any other amount considered appropriate by the Board.

(4)  The Board must debit to investment accounts –

(a) the cost of death and permanent incapacity premiums payable under regulation 66 ; and

(b) tax or surcharge liability or any other amounts required by the law of the Commonwealth; and

(c) the cost of administration and investment management as provided by regulation 69 ; and

(d) any other amount which a person to whom this regulation applies is liable to pay to the Board.

(5)  A person to whom this regulation applies may elect in writing –

(a) to receive a refund of the whole, or a part, of the balance of his or her investment account; or

(b) [Regulation 62 Subregulation (5) amended by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005] to have the whole, or a part, of the balance of his or her investment account transferred to a complying superannuation scheme, RSA or eligible rollover fund; or

(c) to convert the whole, or a part, of the balance of his or her investment account to a pension under regulation 79  –

and the balance of his or her investment account is to be reduced accordingly.

(6)  On receipt of an election under subregulation (5) , the Board must, subject to subregulation (7) , give effect to that election and reduce the balance of the person's investment account accordingly.

(7)  Any amount standing to the credit of an investment account may be paid by the Board only where regulated superannuation funds are permitted under the SIS Act to make such a payment in similar circumstances.

(8)  Notwithstanding subregulation (7) , a person to whom this regulation applies may elect in writing to transfer an amount standing to the credit of his or her investment account to the contributory scheme as settlement in whole or part of any debt owed by that person to the Board and the balance of his or her investment account is to be reduced accordingly.

63.   Payment of voluntary contributions and spouse contributions into investment account

(1)  A person to whom regulation 62 applies may elect at any time, by notice in writing to the Board, to pay voluntary contributions or spouse contributions to an investment account.

(2)  A person to whom regulation 62 applies who elects to make voluntary contributions must specify in that election the amount of the voluntary contribution which may be any combination of the following:

(a) regular contributions expressed as either a percentage, in multiples of 1% of salary or a fixed dollar amount;

(b) one-off or irregular lump sum contributions;

(c) any combination of paragraphs (a) and (b) .

(3)  A person to whom regulation 62 applies who has made an election to make voluntary contributions or spouse contributions may, by notice in writing to the Board, vary that election.

(4)  The voluntary contributions or spouse contributions from a person to whom regulation 62 applies may be deducted from his or her salary and are to be paid to the Board on or within 7 days after the relevant payday.

(5)  A responsible officer must provide the Board with details for every pay period of the voluntary contributions or spouse contributions from each person in respect of whom he or she is the responsible officer.

(6)  [Regulation 63 Subregulation (6) inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] A person must not make voluntary contributions or spouse contributions if the person knows that in doing so he or she would exceed his or her non-concessional contributions cap for a financial year.

(7)  [Regulation 63 Subregulation (7) inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] If the Board becomes aware that a person has exceeded his or her non-concessional contributions cap by making voluntary contributions or spouse contributions, the Board must, within 30 days or such later period as is specified by the law of the Commonwealth –

(a) refund the excess non-concessional contributions to the person; and

(b) debit, by the amount of the refund, the investment account to which the voluntary contributions or spouse contributions were paid.

(8)  [Regulation 63 Subregulation (8) inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] The Board must not accept voluntary contributions, or spouse contributions, from a person unless the person has provided his or her tax file number to the Board in a manner approved by the Board.

64.   Payment of additional employer contributions to investment account

(1)  Where a person to whom regulation 62 applies has entered into an arrangement with an Agency for payment of additional employer contributions –

(a) by way of salary sacrifice; or

(b) from the whole or a part of his or her non-salary benefits; or

(c) as a combination of paragraphs (a) and (b)  –

the Agency must pay the additional employer contributions to the Board on or within 7 days after the relevant payday.

(2)  A person who has entered into an arrangement as mentioned in subregulation (1) may request the Agency to vary that arrangement and the Agency must notify the Board in writing of that variation.

(3)  A responsible officer must provide the Board with details for every pay period of the additional employer contributions paid on behalf of each person in respect of whom he or she is the responsible officer.

64A.   Splitting of contributions

[Regulation 64A Inserted by S.R. 2006, No. 155, Applied:27 Dec 2006]

(1)  In this regulation –

maximum additional employer contribution amount means the amount that is the same as the maximum splittable amount for taxed splittable contributions as defined in regulation 6.40 of the SIS Regulations;

maximum voluntary and spouse contribution amount means the amount that is the same as the maximum splittable amount for untaxed splittable contributions as defined in regulation 6.40 of the SIS Regulations;

spouse has the same meaning as in section 10 of the SIS Act;

taxed splittable contributions has the same meaning as in regulation 6.41 of the SIS Regulations;

untaxed splittable contributions has the same meaning as in regulation 6.41 of the SIS Regulations.

(2)  A person to whom regulation 62 applies may apply in writing to the Board to roll over or transfer to a complying superannuation scheme, or allot, for the benefit of his or her spouse, an amount standing to the credit of the applicant's investment account.

(3)  An application is to specify –

(a) the amount of the additional employer contributions to be rolled over, transferred or allotted; and

(b) the amount of the voluntary contributions and spouse contributions to be rolled over, transferred or allotted.

(4)  The maximum amount that may be rolled over or transferred to a complying superannuation scheme, or allotted, on an application under subregulation (2) is an amount that consists of one or more of the following amounts:

(a) an amount that does not exceed the maximum additional employer contribution amount of the additional employer contributions made for or on behalf of the applicant –

(i) in the financial year in which the application is made if the whole balance of the applicant's investment account to which the application relates is to be rolled over or transferred at the time the application is processed by the Board; or

(ii) in the financial year immediately preceding the financial year in which the application is made if the whole balance of the applicant's investment account to which the application relates is not to be rolled over or transferred at the time the application is processed by the Board;

(b) an amount that does not exceed the maximum voluntary and spouse contribution amount of the voluntary contributions, and spouse contributions, for which a tax deduction is not claimed under section 82AAT of the Income Tax Assessment Act 1936 of the Commonwealth made for, by or on behalf of the applicant –

(i) in the financial year in which the application is made if the whole balance of the applicant's investment account to which the application relates is rolled over or transferred at the time the application is processed by the Board; or

(ii) in the financial year immediately preceding the financial year in which the application is made if the whole balance of the applicant's investment account to which the application relates is not to be rolled over or transferred at the time the application is processed by the Board.

(5)  The Board must, on receipt of an application –

(a) give effect to the application in accordance with this regulation; and

(b) reduce the balance of the applicant's investment account accordingly.

(6)  Notwithstanding subregulation (5)(a) , the Board must not give effect to an application unless a regulated superannuation fund would be permitted under the SIS Act to give effect to a similar application.

65.   Inward portability

(1)  [Regulation 65 Subregulation (1) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] [Regulation 65 Subregulation (1) substituted by S.R. 2007, No. 37, Applied:01 Jul 2007] A person to whom regulation 62 applies or the spouse of any such person may pay or cause to be paid into the Fund all or part of a benefit –

(a) that the person or spouse is entitled to receive as a member of another superannuation scheme or fund; or

(b) that is a roll-over superannuation benefit; or

(c) that is a directed termination payment.

(2)  [Regulation 65 Subregulation (2) substituted by S.R. 2006, No. 155, Applied:27 Dec 2006] An amount paid into the Fund under subregulation (1) is to be credited to an investment account, or an allocated pension account, in the name of the person, or spouse, referred to in that subregulation who is entitled to receive the benefit referred to in that subregulation.

66.   Additional death and permanent incapacity cover

(1)  The Board may provide insurance against death and permanent incapacity to RBF members on any terms and conditions determined in accordance with the conditions of an assurance policy entered into by the Board for the purpose.

(2)  For the purposes of subregulation (1) , additional insurance cover may be provided to any RBF member –

(a) who, in the opinion of the Board, is eligible to participate in the assurance policy; and

(b) who is approved by the insurer under the assurance policy.

(3)  Where it is agreed that additional insurance cover is to be provided under subregulation (1) , any premiums payable by an RBF member in respect of that additional insurance cover are to be deducted from that member's investment account.

(4)  If the investment account of an RBF member has insufficient funds to meet the payment of the premium required under subregulation (3) , the Board may cancel the additional insurance cover of that RBF member.

(5)  Where an RBF member has applied to the Board for additional insurance cover against death or permanent incapacity under subregulation (1) , the Board may provide the cover to that RBF member on such terms and conditions as may be determined by the Board.

Division 2 - Compulsory preservation accounts and allocated pension accounts

67.   Establishment of compulsory preservation accounts

(1)  The Board is to establish a compulsory preservation account in the name of the relevant contributor for each benefit entitlement which is to be compulsorily preserved under regulation 54 and is to credit to that account any benefit entitlement which under that regulation is to be transferred to that account.

(2)  The benefit entitlements preserved under this regulation include all benefit entitlements or proportion of benefit entitlements which are to be preserved in accordance with regulation 54 .

(3)  The benefit entitlements compulsorily preserved in an account established under this regulation are to be indexed at a rate declared by the Board as being equal to whichever is the greater of –

(a) movements in the AWOTE; or

(b) movements in the Consumer Price Index.

(4)  For the purpose of subregulation (3) , the indexation rate declared by the Board is to be reviewed as at 1 January and 1 July in each year in accordance with the AWOTE or Consumer Price Index figure most recently published before that review.

(5)  Except as provided by regulation 72 or 118 , where a person in whose name a compulsory preservation account has been established reaches his or her preservation age, the balance of that account is to be transferred, after deduction of any tax liability –

(a) to an account in the name of that person in the accumulation scheme; or

(b) where the benefit entitlement was preserved under regulation 43(4)(b) of the Retirement Benefits Regulations 1994 or regulation 54(5)(b) of these regulations, to an investment account in the name of that person.

(6)  An amount standing to the credit of a compulsory preservation account may be paid by the Board only where regulated superannuation funds are permitted under the SIS Act to make such a payment in similar circumstances.

(7)  Where a person holding a compulsory preservation account dies, the Board is to pay the balance of that person's account in accordance with regulation 130 .

68.   Allocated pension accounts

(1)  A person who –

(a) has a benefit entitlement under the contributory scheme or this Part and who has ceased employment after attaining the preservation age; or

(b) is the surviving partner of a person having such an entitlement –

may elect to transfer the whole or a part of his or her benefits to an allocated pension account.

(2)  If a person makes an election under subregulation (1) , the Board is to credit to the allocated pension account –

(a) any investment earnings determined by the Board under regulation 113 ; and

(b) if the person so requests –

(i) any benefit transferred under subregulation (1) ; and

(ii) any benefit paid into the Fund under regulation 65 ; and

(iii) any other amount allowable under the law of the Commonwealth for the purpose of providing an allocated pension.

(3)  The Board is to debit to the allocated pension account –

(a) any allocated pension payment made under this regulation; and

(b) any capital withdrawal made from the allocated pension account which may be allowed under the law of the Commonwealth; and

(c) any tax or surcharge liability or other amounts required by law; and

(d) any administration fee and investment management fee sufficient to cover the cost of administering the allocated pension account as determined by the Board under regulation 69 .

(4)  On the establishment of an allocated pension account for a person and at any other time as the Board may determine, that person must notify the Board in writing of –

(a) the amount of allocated pension to be paid to him or her during a financial year which is to be subject to the allocated pension valuation factors permitted by the law of the Commonwealth; and

(b) the frequency of allocated pension instalments, whether fortnightly, monthly, quarterly or annually, to be paid during that financial year.

(5)  If a notification referred to in subregulation (4) is not received within a period determined by the Board, the Board is to determine the amount and frequency of the allocated pension instalments to be paid to the person having regard to the allocated pension valuation factors permitted by the law of the Commonwealth.

(6)  Subject to subregulation (4) , the Board must pay to the person in respect of whom the account is established an allocated pension instalment calculated in accordance with the following formula:

where –

AP is the allocated pension instalment to be paid to a person in respect of a financial year;

APB is the balance standing to the credit of the allocated pension account –

(a) on 1 July in the financial year in which the allocated pension payments are to be made; or

(b) if the account was established on a later date, on that date; or

(c) if there are deposits or withdrawals made in accordance with paragraph (b) of subregulation (2) or paragraph (b) of subregulation (3) , on a date determined by the Board having regard to the law of the Commonwealth;

PVF is the pension valuation factor applicable to the person entitled to the allocated pension, if the factor is, having regard to that person's age, within the range of allocated pension valuation factors permitted by the law of the Commonwealth;

T is 365 or, if the allocated pension account was established after 1 July in the current financial year, the number of days remaining in that financial year;

N is the number of instalments of pension remaining in the current financial year payable to the person entitled to the allocated pension in accordance with his or her election under subregulation (4) or the Board's determination under subregulation (5) .

(7)  An allocated pension ceases to be payable on the earlier of the following dates:

(a) the date of death of the person entitled to that pension;

(b) the date on which the amount held in the allocated pension account is extinguished.

(8)  The Board must suspend an allocated pension for the remainder of a financial year if the total amount of instalments of the pension paid during that financial year equals the maximum allocated pension for that financial year allowed by the law of the Commonwealth.

(9)  If a person entitled to an allocated pension dies, the Board must pay the balance of the allocated pension account as at the date of death in accordance with regulation 130 .

69.   Deductions allowed against investment accounts and allocated pension accounts

The Board is to impose sufficient fees to cover the cost of –

(a) administering all investment accounts and allocated pension accounts; and

(b) managing the investment of all money held in investment accounts and allocated pension accounts –

and those fees are to be recovered from investment accounts and allocated pension accounts as the Board may determine.

Division 3 - Payment of benefits

70.   Time and manner of benefit payments

(1)  The Board is to use its best endeavours to ensure that a benefit under these regulations is paid as soon as practically possible but not later than 6 weeks after the day when a person becomes eligible to be paid the benefit or the day on which the Board receives the completed application for the benefit, whichever is the latter.

(2)  If a benefit is not paid within the period specified in subregulation (1) , additional interest is payable on that benefit as determined by the Board.

71.   Release of preserved benefits

(1)  Where the Board is required to preserve a lump sum benefit entitlement under Part 5 or 6 , that benefit entitlement may be paid by the Board only where regulated superannuation funds are permitted under the SIS Act to make such a payment in similar circumstances.

(2)  The Board must notify –

(a) an RBF member; or

(b) a person entitled to the preserved benefit in accordance with regulation 130  –

whichever is appropriate, of the entitlement to a preserved benefit that has become payable by sending a written notice to that person's last known address.

(3)  Where a person with an entitlement to a preserved benefit dies, the Board is to pay that benefit in accordance with regulation 130 .

(4)  Where the Board has determined in accordance with regulation 118(7) that a person with an entitlement to a preserved benefit is suffering from total and permanent incapacity, the Board is to pay that benefit to that person.

72.   Early release of benefits

(1)  In this regulation –

child, in respect of an RBF member, includes a step-child of the RBF member;

dependant, in respect of an RBF member, includes –

(a) the spouse of the RBF member; and

(b) a child of the RBF member; and

(c) any other person with whom the RBF member has an interdependency relationship within the meaning of section 10A of the SIS Act;

medical transport means transport by land, water or air for the purposes of medical attention.

(2)  This regulation applies only to an RBF member who holds an account under regulation 62 or 67 .

(3)  An RBF member may apply to the Board in a form approved by the Board for a determination in accordance with this regulation for the early release of the whole or a part of an amount standing to the credit of his or her account under regulation 62 or 67 .

(4)  Subject to Part 8 but notwithstanding any other provision of these regulations, the Board may make a determination for the early release of the whole or a part of an amount mentioned in subregulation (3) if the Board is satisfied that –

(a) the amount to be released is required –

(i) to pay for medical treatment or medical transport for the RBF member or a dependant; or

(ii) to enable the RBF member to make a payment on a loan, to prevent –

(A) foreclosure of a mortgage on the RBF member’s principal place of residence; or

(B) exercise by the mortgagee of an express or statutory power of sale over the RBF member’s principal place of residence; or

(iii) to modify the RBF member’s principal place of residence, or vehicle, to accommodate the special needs of the RBF member, or a dependant, arising from severe disability; or

(iv) to pay for expenses associated with the RBF member’s palliative care, in the case of impending death; or

(v) to pay for expenses associated with a dependant’s death, funeral, burial or, in the case of impending death, palliative care; or

(vi) to meet expenses for any other purpose which the Board determines to be consistent with a ground mentioned in the preceding subparagraphs of this paragraph –

and in any such case the RBF member does not have the financial capacity to meet that expense or those expenses; or

(b) the RBF member is in severe financial hardship as mentioned in subregulation (9)(a) or (b) .

(5)  The Board must not make a determination under this regulation that money is required for medical treatment unless 2 legally-qualified medical practitioners (at least one of whom must be a specialist) certify that –

(a) the medical treatment is necessary to –

(i) treat a life-threatening illness or injury; or

(ii) alleviate acute or chronic pain; or

(iii) alleviate an acute or chronic mental disturbance; and

(b) the treatment is not readily available to the RBF member, or the dependant, through the public health system.

(6)  The Board must not make a determination under this regulation that money is required for medical transport unless the medical treatment for which the medical transport is required has been certified, under subregulation (5) , as necessary for a reason mentioned in subregulation (5)(a) .

(7)  The Board must not make a determination under this regulation that money is required on the ground mentioned in subregulation (4)(a)(ii) unless the RBF member provides the Board with a written statement from the mortgagee that –

(a) payment of an amount is overdue; and

(b) if the RBF member fails to pay the amount, the mortgagee will –

(i) foreclose the mortgage on his or her principal place of residence; or

(ii) exercise its express or statutory power of sale over his or her principal place of residence.

(8)  A statement under subregulation (7) is to specify –

(a) an amount that is equal to 3 months’ repayments under the mortgage; and

(b) an amount that is equal to 12 months’ interest on the outstanding balance of the loan at the time the statement is made.

(9)  For the purposes of subregulation (4) , an RBF member is taken to be in severe financial hardship if –

(a) the Board is satisfied that –

(i) based on written evidence provided by at least one department or agency of the Commonwealth responsible for administering a class of Commonwealth income support payments –

(A) the RBF member has received Commonwealth income support payments for a continuous period of 26 weeks; and

(B) the RBF member was in receipt of payments of that kind on the date of the written evidence; and

(ii) the RBF member is unable to meet reasonable and immediate family living expenses; or

(b) the RBF member has reached the age that is his or her preservation age plus 39 weeks and the Board is satisfied that –

(i) based on written evidence provided by at least one department or agency of the Commonwealth responsible for administering a class of Commonwealth income support payments, the RBF member received Commonwealth income support payments for a cumulative period of 39 weeks after he or she reached his or her preservation age; and

(ii) the RBF member was not gainfully employed on a full-time or part-time basis on the date of his or her application under this regulation.

(10)  The written evidence referred to in subregulation (9)(a) is of no effect if it is dated more than 21 days before the date of the relevant application to the Board.

(11)  In each 12-month period, beginning on the date of the first payment, the Board may, under this regulation, pay by way of early release of an RBF member’s benefit entitlement a single lump sum payment that is to be –

(a) in respect of an amount released under subregulation (4)(a)(ii) , not more than the total of the amounts referred to in subregulation (8) ; or

(b) in respect of an RBF member who is in severe financial hardship as mentioned in subregulation (9)(a) , an amount not less than $1 000 and not more than $10 000 or, if the amount of the RBF member’s benefit entitlement is less than $1 000, the amount of that benefit entitlement; or

(c) in respect of an RBF member who is in severe financial hardship as mentioned in subregulation (9)(b) , an amount not more than the amount of his or her benefit entitlement; or

(d) in respect of any other amount released under subregulation (4) , such amount as the Board considers appropriate after consideration of the relevant application and accompanying evidence.

(12)  An amount released under this regulation may be paid to any person that the Board determines.

(13)  Where the Board has paid an amount by way of early release under this regulation, the Board must reduce the balance of the relevant RBF member’s account or accounts under regulation 62 or 67 accordingly.

(14)  If the Board is not satisfied that an applicant has established grounds for the early release of the whole or a part of his or her benefit, the Board may decline to proceed with consideration of the application until the applicant has produced such relevant information as the Board may require.

73.   Payment where beneficiary incapable

Subject to Parts 8 and 9 but notwithstanding any other provision of these regulations, where a person entitled to receive a benefit or other payment under these regulations is unable to make reasonable judgments as to the management of his or her affairs, the Board may withhold payment of the benefit or other amount due for a period of up to 30 days or for such longer period as may be directed by the Guardianship and Administration Board.

74.   Payment where beneficiary bankrupt

If a person to whom a benefit under these regulations is payable is an undischarged bankrupt or a person whose property is subject to an order or arrangement under the law relating to bankruptcy, the Board may pay the whole or part of that benefit to the administrator of the bankrupt estate.

75.   Unclaimed benefits

(1)  Where –

(a) the Board has, in writing and in accordance with the law of the Commonwealth, advised the person entitled to a benefit that has become payable under these regulations of his or her entitlement; and

(b) a period of 6 months has elapsed without response from that person –

the benefit entitlement is taken to be unclaimed money.

(2)  The Board must complete and forward a statement of unclaimed money, together with payment, in accordance with the Unclaimed Moneys Act 1918 , as follows:

(a) in respect of a 6 month period ending on 30 June, on or before the following 31 October;

(b) in respect of a 6 month period ending on 31 December, on or before the following 30 April;

(c) for such other period as is allowed by the Unclaimed Moneys Act 1918 .

Division 4 - Overdue contributions and overpayment of pensions

76.   Recovery of overdue contributions and payments

(1)  If any contributions or other payments that are required under these regulations, or were required under the former regulations, to be made by a contributor are, for any reason, in arrears, the amount in arrears may be deducted from his or her salary in any instalments that the Board determines, and the Agency by which the contributor is employed must cause the amount to be deducted accordingly and paid to the Board.

(2)  The Board may recover in a court of competent jurisdiction amounts payable to it by any person, or may deduct them from any money payable under these regulations to, or in respect of, that person.

77.   Overpayment of pensions or benefits

[Regulation 77 Amended by S.R. 2006, No. 155, Applied:27 Dec 2006] If a person has received a payment of a pension or other benefit under these regulations or the former regulations and it is subsequently discovered that the payment was in excess of the amount properly payable –

(a) the Board may require repayment to be made on any terms that the Board thinks just; or

(b) [Regulation 77 Amended by S.R. 2006, No. 155, Applied:27 Dec 2006] the Board may write off the whole or any part of the excess amount so paid if it is satisfied that –

(i) forcing that person to repay the excess amount would impose on him or her undue financial hardship or would be inequitable; and

(ii) the payment of the excess amount was not due to the fault of the person.

Division 5 - Invalidity of contributors

78.   Question of invalidity to be determined by Board

(1)  If any question arises as to whether a contributor is unable, by reason of bodily infirmity, physical incapacity or mental incapacity, to perform his or her duties, the Board is to determine the question under regulation 118 .

(2)  If any question arises as to whether an RBF member to whom regulation 66 applies is unable, by reason of bodily infirmity, physical incapacity or mental incapacity, to perform his or her duties, the question is to be determined in accordance with the terms and conditions referred to in regulation 66 .

PART 7 - Pensions

79.   Conversion of lump sum benefits to pensions

(1)  Except as provided in subregulation (15) , a person who is entitled to receive a lump sum benefit under –

(a) Part 5 or Part 6 ; or

(b) the accumulation scheme and complies with the requirements of Schedule 2 of the Trust Deed –

may, subject to subregulation (2) , elect to convert the whole or a part of the lump sum into a pension, as provided by this regulation.

(2)  Where a contributor retires on the grounds of total and permanent incapacity and his or her lump sum benefit under regulation 50 or 51 is greater than $50 000, the Board must convert his or her benefit entitlement to a pension as provided in this regulation.

(3)  A contributor to whom subregulation (2) applies may before his or her pension commences under that subregulation elect, in writing to the Board, to commute any part of his or her pension under subregulation (2) to –

(a) a lump sum benefit not exceeding $50 000; and

(b) if the Board approves, an additional lump sum benefit not exceeding $30 000.

(4)  A payment under subregulation (3) is not payable and interest does not accrue before the date of the Board's final decision determined in accordance with regulation 126 .

(5)  The Minister may, by notice published in the Gazette, amend the amounts specified in subregulation (2) and (3) by substituting another amount for an amount specified in that subregulation with effect from a date specified in the notice.

(6)  The Board may determine that subregulation (2) does not apply if at least 2 medical practitioners appointed or employed by the Board certify that the contributor has a terminal illness from which death is likely to occur within a period of 12 months.

(7)  A person who is entitled to receive more than one lump sum benefit under these regulations is to make an election with respect to each benefit separately.

(8)  An election under subregulation (1) is to be made in writing to the Board –

(a) with respect to a contributor, on or before the event on which the lump sum benefit becomes payable or within a period of 3 months after that event or any extended period that the Board allows; or

(b) [Regulation 79 Subregulation (8) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] with respect to the surviving partner of a contributor, within a period of 6 months immediately following the Board's determination under regulation 129A that he or she is the surviving partner of the contributor.

(9)  Where a contributor or surviving partner of a contributor fails to make an election as mentioned in subregulation (8) , the benefit entitlement is to be transferred to an account in his or her name in the accumulation scheme.

(10)  Where an election is made under subregulation (1) , the person entitled is to be paid out of the Fund a pension equal to the amount of the relevant lump sum entitlement foregone divided by the conversion factor that is applicable under regulation 80 to that person on the date on which the election becomes effective.

(11)  In the case of a surviving partner of a contributor, the effective date for the purposes of subregulation (10) is the day immediately following the day on which the election is received by the Board.

(12)  Where the election has been made under subregulation (1) by a person for the conversion of the whole or part of his or her lump sum entitlement into a pension, the lump sum entitlement is to be reduced by the Board in accordance with the election and any remaining balance is to be transferred to an account in his or her name in the accumulation scheme.

(13)  Notwithstanding subregulation (1) , an existing contributor or an amalgamated contributor may, on ceasing to be a contributor, or on attaining the age of 55 years having ceased to be a contributor as a result of a prescribed arrangement, elect in writing to the Board to substitute the benefit payable under Part 5 with the benefit payable as appropriate under Schedule 3 .

(14)  An election by a contributor under subregulation (13) with respect to a lump sum benefit determined under regulation 50 is to be an election to convert the whole of that lump sum into a pension.

(15)  [Regulation 79 Subregulation (15) substituted by S.R. 2007, No. 37, Applied:01 Jul 2007] A benefit payable under regulation 130(1)(b) or (c) or regulation 130(2) is not to be converted to a pension.

80.   Pension conversion factors

(1)  For the purposes of regulation 79 , the Board must –

(a) determine pension conversion factors from time to time, on the advice of the Actuary; and

(b) publish those factors by notice in the Gazette; and

(c) cause the factors to be reviewed by the Actuary at least once a year and at such other times as the Board determines.

(2)  Different factors may be determined depending on the age and gender of the person entitled to a benefit and whether there is a reversionary right to his or her surviving partner.

(3)  Where –

(a) an existing contributor or an amalgamated contributor is entitled to a benefit under regulation 47 , 48 , 49 , 50 or 53 ; or

(b) a person who, immediately before the commencement day, was referred to in regulation 17 of the Retirement Benefits (Transitional) Regulations 1994 ceases employment after attaining the preservation age; or

(c) a person who –

(i) was an existing contributor who has had his or her benefit entitlement calculated under regulation 37 or 37A of the Retirement Benefits Regulations 1994 ; and

(ii) has preserved his or her benefit in the Fund under regulation 43(4)(a) and (b) or regulation 43(5)(b) of those regulations –

ceases employment after attaining the preservation age; or

(d) a person who –

(i) was an existing contributor who has had his or her benefit entitlement calculated under regulation 48 or 49 of these regulations; and

(ii) has preserved his or her benefit in the Fund under regulation 54(3)(a) and (b) or regulation 54(4)(b) of these regulations –

ceases employment after attaining the preservation age –

the conversion factor with respect to an election made by that person or by his or her surviving partner, in respect of the benefit entitlement under the contributory scheme, is 12 or the factor last determined by the Board, whichever factor provides the higher pension.

(4)  Subregulation (3) does not apply to –

(a) a person who was an amalgamated contributor and who, under regulation 4 or 5 of the Retirement Benefits (Transitional) Regulations 1994 , had elected to contribute to the Fund otherwise than as an amalgamated contributor; or

(b) an existing contributor who receives a benefit under regulation 54(9) or (10) ; or

(c) a person who was an existing contributor and whose benefit has been preserved as mentioned in regulation 43(4)(a) and (b) or regulation 43(5)(b) of the Retirement Benefits Regulations 1994 and has made an election under regulation 60(4) of those regulations; or

(d) [Regulation 80 Subregulation (4) amended by S.R. 2005, No. 147, Applied:27 Jul 2005] a person who was an existing contributor whose benefit is preserved as mentioned in paragraphs (a) and (b) of regulation 54(3) or regulation 54(4)(b) of these regulations and who made an election under regulation 62(5)(a) or (b) of these regulations; or

(e) any amount to which a person became entitled under Part 9 as a result of becoming a non-member spouse within the meaning of section 90MD of the Family Law Act 1975 of the Commonwealth; or

(f) any amounts under regulation 79(1)(b) transferred from the accumulation scheme.

(5)  If, within the period specified in regulation 79(8) , an existing contributor or the surviving partner of an existing contributor elects to commute a lump sum on 2 or more occasions under regulation 79 , the conversion factor –

(a) in respect of the first election, is to be 12; and

(b) in respect of each subsequent election, is to be the appropriate pension conversion factor determined under subregulation (1)(a) .

81.   Pensions payable to surviving partners

(1)  The surviving partner of a pensioner is entitled to a pension calculated at the rate specified in subregulation (2) if the pensioner, at the date of his or her death, was in receipt of a pension –

(a) as mentioned in clause 1(2) of Part 4 of Schedule 5 ; or

(b) calculated on the basis of the reversion of the pension to his or her surviving partner under regulation 79 ; or

(c) calculated by reference to a factor of 12 as specified in regulation 80(3) ; or

(d) calculated under Schedule 3 .

(2)  The pension payable to a surviving partner under subregulation (1) is payable at the rate of two-thirds of the pension that the pensioner –

(a) was receiving; or

(b) was eligible to receive if that pension had not been suspended or reduced by the Board under regulation 85(1)  –

immediately before the death of the pensioner.

(3)  A pension being paid to a surviving partner arising from the death of an existing contributor or a pensioner ceases to be paid with effect from the date of death of that surviving partner.

(4)  A pension that has been calculated on the basis that there is to be no reversion of that pension to a surviving partner on the death of a pensioner ceases to be paid with effect from the date of death of that pensioner.

(5)  A pension is payable under this regulation to the surviving partner of a pensioner notwithstanding that the marriage took place, or the significant relationship within the meaning of the Relationships Act 2003 commenced, after the retirement of the pensioner.

82.   Half-yearly adjustments to pensions

(1)  A pension under these regulations, other than an allocated pension or an interim pension payable under regulation 58 , is to be increased by the Board in each half-year in accordance with this regulation.

(2)  The Government Statistician, as soon as practicable after the end of the first quarter in each half-year, is to give the Board a notice specifying the percentage by which the Consumer Price Index for that quarter is greater or less than the Consumer Price Index for the preceding half-year.

(3)  On receipt of a notice under subregulation (2) , the Board is to declare the percentage by which pensions are to be increased in respect of the half-year following the relevant date mentioned in that subregulation.

(4)  A percentage declared under subregulation (3) in respect of a half-year is to be the same as the percentage specified in the notice given to the Board under subregulation (2) .

(5)  Notwithstanding subregulation (4) , where the percentage specified in the notice given to the Board under subregulation (2) is a negative, the percentage declared under subregulation (3) is to be zero.

(6)  An increase in a pension in respect of any half-year made under this regulation is to be made –

(a) by increasing the rate at which, immediately before the making of the adjustment, the pension was payable by the percentage declared in respect of that half-year under subregulation (3) ; and

(b) so as to operate from and including the first pay-day in that half-year.

(7)  The following provisions apply to the first increase of a pension that first becomes payable under this regulation:

(a) in the case of a pension that comes into force during the second quarter of any half-year, the first increase to that pension is to be made so as to operate from the first pay-day after the end of the half-year next following that half-year;

(b) in the case of a pension that comes into force during the first quarter of any half-year, the first increase to that pension is to be made so as to operate from the first pay-day after the end of that half-year;

(c) the amount by which a pension is to be increased is to be calculated in accordance with the formula set out in subregulation (8) .

(8)  For the purposes of subregulation (7)(c) , the formula is as follows:

where –

P is the amount by which the pension is to be increased;

A is the annual amount by which the pension would have been increased in accordance with subregulation (6) ;

B is the number of days falling within the period beginning with the day on which the pension came into force and ending –

(a) if that day falls within the second quarter of any half-year, at the end of the first quarter of the half-year next following; or

(b) if that day falls within the first quarter of any half-year, at the end of that quarter.

(9)  If a pension is payable to a surviving partner or a child, subregulations (7) and (8) have effect as if that pension came into force when the pension payable to that pensioner came into force.

83.   Duration of pensions

(1)  A benefit converted to a pension under regulation 79 is payable during the life of the pensioner and, except as otherwise provided by these regulations, is payable from –

(a) in the case of a benefit payable under Part 5 , regulation 124 or Schedule 3  –

(i) the day after the date of retirement or death of the contributor; or

(ii) the day after the date of the Board's final decision under regulation 126 ; or

(b) in any other case, the date when an election to convert that benefit to a pension takes effect –

whichever is the later.

(2)  Subregulation (1) does not apply to an interim pension payable under regulation 57 or 58 , an allocated pension or a child's pension.

(3)  A child's pension commences on the date of the event by virtue of which it becomes payable and ceases to be payable on –

(a) the child attaining the age of 18 years unless subregulation (4) applies to the child; or

(b) the death of the child; or

(c) the cessation of the circumstances in respect of which it is payable –

whichever happens first.

(4)  In the case of a child who is receiving full-time education at a school, college or university, the child's pension ceases to be payable –

(a) when the child attains age 25 years; or

(b) when the child ceases to receive full-time education at a school, college or university –

whichever happens first.

84.   Time and manner of payment of pensions

(1)  A pension payable under these regulations, other than an allocated pension, is to be paid in fortnightly instalments.

(2)  In order to ascertain the amount of a fortnightly pension, the annual amount of the pension is to be divided by 26.

(3)  A pension or other benefit payable under these regulations –

(a) in the case of a child's pension, is to be paid to a parent or guardian of the child in any manner the Board determines, having regard to any wishes of that parent or guardian with respect to the payment; or

(b) in the case of any other pension or benefit, is to be paid to the person entitled to it in any manner the Board determines, having regard to any wishes of that person with respect to the payment.

85.   Reduction or suspension of invalidity pensions in certain cases

(1)  If an invalidity pensioner –

(a) is engaged in any business or occupation on his or her own account; or

(b) is undertaking gainful employment; or

(c) has recovered from his or her bodily infirmity, physical incapacity or mental incapacity so as to be able to undertake gainful employment in an occupation for which he or she is reasonably qualified by education, training or experience; or

(d) is in receipt of regular workers compensation payments under the Workers Rehabilitation and Compensation Act 1988 and the combined payments of the invalidity pension and workers compensation payments exceed the salary received, or taken by the Board to have been received, in the previous 12 months –

the Board may –

(e) suspend the pension payable to that invalidity pensioner for such period, or until the happening of such an event, as the Board determines; or

(f) reduce the amount of that pension to an amount that, in the Board's opinion, the circumstances of the case warrant for such period, or until the happening of such an event, as the Board determines.

(2)  An invalidity pensioner must provide the Board with such evidence of his or her invalidity or financial circumstances as the Board may from time to time require, and in default of doing so, the Board may suspend payment of his or her invalidity pension during the continuance of the default.

(3)  Where –

(a) payment of an invalidity pension has been suspended under subregulation (2) ; and

(b) the invalidity pensioner subsequently provides the Board with the required evidence –

the Board may reinstate payment of his or her invalidity pension inclusive of any part of the period of that suspension.

(4)  If –

(a) the Board suspends or reduces the total and permanent incapacity pension or partial and permanent incapacity pension of an invalidity pensioner under subregulation (1) ; and

(b) he or she is again determined by the Board to be suffering from such bodily infirmity, physical incapacity or mental incapacity as to be retired –

the Board is to restore the invalidity pension to the rate that would have been payable to that invalidity pensioner if the pension had not been suspended or reduced.

(5)  Notwithstanding any other provision of these regulations, if a person who is in receipt of a total and permanent incapacity pension or a partial and permanent incapacity pension is reappointed as a permanent full-time or permanent part-time employee, he or she is obliged to contribute to the contributory scheme and –

(a) if he or she again retires due to age or invalidity, he or she is entitled to a pension calculated at the same rate as the rate at which the total and permanent incapacity pension or the partial and permanent incapacity pension that he or she was receiving immediately before his or her reappointment would have been payable if he or she had not been reappointed; or

(b) if he or she subsequently retires, he or she is entitled to a pension benefit calculated in accordance with any applicable provisions of Parts 5 and 7 but in any event the annual amount of that pension is not to be less than the annual amount of the invalidity pension that would have been payable if he or she had not been reappointed.

86.   Right of certain pensioners to commute pensions to lump sum

(1)  A pensioner who –

(a) immediately before the commencement day, was in receipt of a widow's pension or widower's pension which first became payable under the Retirement Benefits Act 1970 or the Superannuation Act 1938 ; and

(b) has not attained the age of 60 years –

may, within 3 months after attaining that age, elect to commute the whole or part of that pension into a lump sum payment as provided in this regulation.

(2)  A pensioner who –

(a) is in receipt of an invalidity pension that first became payable under the Retirement Benefits Act 1982 ; or

(b) immediately before the commencement day, was in receipt of a total and permanent incapacity pension or a partial and permanent incapacity pension calculated under clause 7 of Schedule 3 to the Retirement Benefits Regulations 1994 ; or

(c) becomes entitled to a total and permanent incapacity pension or partial and permanent incapacity pension under clause 7 of Schedule 3 of these regulations –

may elect to commute the whole or part of that pension to a lump sum payment.

(3)  An election under subregulation (2) is to be made within 6 months after the person attains the age of 60 years, 63 years or 65 years and may be made on one occasion only.

(4)  [Regulation 86 Subregulation (4) amended by S.R. 2006, No. 155, Applied:27 Dec 2006] A surviving partner who becomes entitled to a pension under regulation 81(1) may, within a period of 3 months immediately following the Board's determination under regulation 129A that he or she is a surviving partner, elect to commute the whole or part of that pension into a lump sum payment as provided in this regulation.

(5)  A person who makes an election under this regulation is entitled to a lump sum benefit equal to the amount of the pension forgone by him or her multiplied by the commutation factor that is applicable to that person on the date on which his or her election becomes effective.

(6)  The lump sum benefit entitlement under subregulation (5) may be paid out of the Fund to that person or transferred by that person to an account in the accumulation scheme in his or her name.

(7)  When an election is made under this regulation, the pension is to be reduced with effect from the day following receipt of the election by the Board by the percentage of the pension specified in the election.

(8)  For the purposes of subregulation (2) , the commutation factor for determining a lump sum payment under subregulation (5) for each $1 of pension commuted by a person in receipt of either a total and permanent incapacity pension or a partial and permanent incapacity pension is as follows:

Age of pensioner on date on which election becomes effective	Commutation factor
65	6.5
63	6.5
60	7.5

(9)  For the purposes of subregulations (1) and (4) , the commutation factor for determining a lump sum payment under subregulation (5) for each $1 commuted by a pensioner is as follows:

Age of pensioner on date on which election becomes effective	Commutation factor
Over 90 years	Factor to be determined by Actuary
90 years	2.5
89 years and under 90 years	2.7
88 years and under 89 years	2.9
87 years and under 88 years	3.1
86 years and under 87 years	3.3
85 years and under 86 years	3.5
84 years and under 85 years	3.7
83 years and under 84 years	3.9
82 years and under 83 years	4.1
81 years and under 82 years	4.3
80 years and under 81 years	4.5
79 years and under 80 years	4.9
78 years and under 79 years	5.3
77 years and under 78 years	5.7
76 years and under 77 years	6.1
75 years and under 76 years	6.5
74 years and under 75 years	6.7
73 years and under 74 years	6.9
72 years and under 73 years	7.1
71 years and under 72 years	7.3
70 years and under 71 years	7.5
69 years and under 70 years	7.7
68 years and under 69 years	7.9
67 years and under 68 years	8.1
66 years and under 67 years	8.3
65 years and under 66 years	8.5
64 years and under 65 years	8.7
63 years and under 64 years	8.9
62 years and under 63 years	9.1
61 years and under 62 years	9.3
60 years and under 61 years	9.5
59 years and under 60 years	9.7
58 years and under 59 years	9.9
57 years and under 58 years	10.1
56 years and under 57 years	10.3
55 years and under 56 years	10.5
54 years and under 55 years	10.6
53 years and under 54 years	10.7
52 years and under 53 years	10.8
51 years and under 52 years	10.9
50 years and under 51 years	11.0
49 years and under 50 years	11.1
48 years and under 49 years	11.2
47 years and under 48 years	11.3
46 years and under 47 years	11.4
45 years and under 46 years	11.5
44 years and under 45 years	11.6
43 years and under 44 years	11.7
42 years and under 43 years	11.8
41 years and under 42 years	11.9
under 41 years	12.0

(10)  This regulation applies to an applicant for an invalidity pension as if he or she were an invalidity pensioner.

87.   Amounts of pensions to be rounded off

If an amount of pension or allocated pension that is calculated under these regulations leaves a fraction of a cent, and the fraction –

(a) is 0.5 cent or more, that amount is to be increased to the next highest whole number of cents; or

(b) is less than 0.5 cent, that amount is to be reduced to the next lowest whole number of cents.

PART 8 - Taxation, Preservation and Payment of Lump Sum and Pension Benefit Entitlements

88.   Calculation of notional contributions surcharge amounts

For the purposes of this Part, the Board must calculate for each contributor a notional contributions surcharge amount having regard to his or her salary and the notional surchargeable contributions factor provided to the Board by the Actuary as required by the law of the Commonwealth and these regulations.

88A.   Calculation of notional taxed contributions

[Regulation 88A Inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] For the purposes of this Part, the Board must calculate for each contributor the notional taxed contributions for a financial year having regard to Subdivision 292-D of the Income Tax Assessment Act 1997 of the Commonwealth.

89.   Provision of information

(1)  The Board must provide the Actuary with such information in respect of contributors or pensioners as may be necessary for the purposes of this Part.

(2)  The Board must provide the Taxation Commissioner with such information in respect of contributors or pensioners as may be required under the law of the Commonwealth.

90.   When benefit entitlements become payable

(1)  For the purposes of this Part, a person's benefit under these regulations that –

(a) includes a payment by the Minister or a prescribed authority; and

(b) is not an interim invalidity pension under regulation 57 or an interim pension payable under regulation 58  –

is taken to be payable at the time the person is paid the benefit.

(2)  Where no payment is payable by the Minister or a prescribed authority because the benefit is payable from an investment account, the benefit becomes payable when the person entitled, or in the event of the person's death a person referred to in regulation 130 , makes a claim for payment of the benefit.

91.   Contributions and benefit entitlements subject to taxation

[Regulation 91 Substituted by S.R. 2007, No. 37, Applied:01 Jul 2007]

(1)  For the purpose of taxation of superannuation contributions under the law of the Commonwealth, the Board is to treat –

(a) salary sacrifice contributions and additional employer contributions as concessional contributions; and

(b) member contributions that have been included in the assessable income of the Fund as concessional contributions; and

(c) member contributions that have not been included in the assessable income of the Fund as non-concessional contributions; and

(d) voluntary contributions that have not been included in the assessable income of the Fund as non-concessional contributions; and

(e) spouse contributions that have not been included in the assessable income of the Fund as non-concessional contributions; and

(f) the element untaxed in the fund of a roll-over superannuation benefit as assessable income of the Fund; and

(g) the element untaxed in the fund of a benefit transferred under regulation 67(5) as assessable income of the Fund.

(2)  The Board, having regard to the law of the Commonwealth, must –

(a) establish and maintain policies and administrative procedures with respect to the taxation of –

(i) superannuation contributions; and

(ii) superannuation benefits; and

(b) determine, from time to time –

(i) the proportion of a superannuation benefit that is to be treated by the Board as an element untaxed in the fund for the purposes of the Income Tax Assessment Act 1997 of the Commonwealth; and

(ii) the proportion of a superannuation benefit that is to be treated by the Board as an element taxed in the fund for the purposes of that Act; and

(iii) the proportion of a superannuation benefit that is to be treated by the Board as a tax free component for the purposes of that Act.

(3)  The Board, in accordance with the law of the Commonwealth, must –

(a) deduct from the following all amounts required to be paid as taxation under the law of the Commonwealth:

(i) superannuation contributions;

(ii) roll-over superannuation benefits;

(iii) benefits transferred under regulation 67(5) ;

(iv) superannuation benefits; and

(b) remit those amounts to the Taxation Commissioner.

92.   Provision of certain information by Board

(1)  The Board must provide the Taxation Commissioner, as required by the law of the Commonwealth, with particulars of the notional contributions surcharge amount in respect of each contributor or pensioner.

(2)  An amount under subregulation (1) is to take into account separately the amount payable to each contributor or pensioner with respect to benefit entitlements accruing under Part 5 , 6 or 7 , regulation 124 or Schedule 3 .

(3)  Where a contributor or pensioner so requests, the Board is to give to that person a copy of the particulars given to the Taxation Commissioner under subregulation (1) relating to that person together with details of how the amount was calculated.

(4)  If a contributor or pensioner believes that the amount referred to in subregulation (1) is incorrect owing to either a miscalculation of matters ascertained by the Actuary or a mistake of fact, the contributor or pensioner may, by notice in writing to the Board –

(a) request that the calculation of the amount be reviewed; and

(b) request the Board to consider any evidence which he or she may submit to it.

93.   Establishment of surchargeable contributions debt account

(1)  On receipt of the first assessment notice from the Taxation Commissioner in respect of a contributor or pensioner, the Board must establish a surchargeable contributions debt account in respect of him or her.

(2)  The Board must debit the surchargeable contributions debt account with the amount of any surcharge liability specified in the assessment notice relating to the contributor or pensioner.

(3)  If the surchargeable contributions debt account is in debit at the end of a financial year, the Board must, in accordance with the law of the Commonwealth, debit the account with interest.

(4)  Where a lump sum or a pension benefit entitlement becomes payable by the Board to a contributor or pensioner whose surchargeable contributions debt account is in debit, the Board must pay to the Taxation Commissioner, within one month after the day on which the lump sum or the first instalment of pension becomes payable, the amount by which the account is in debit in respect of that benefit entitlement.

(5)  The Board, at least annually, must inform each contributor or pensioner of the balance of his or her surchargeable contributions debt account and of any debits or credits, including interest, to that account.

94.   Right of members to pay into surchargeable contributions debt accounts

(1)  A contributor or pensioner may make payments to his or her surchargeable contributions debt account to reduce in full or in part the balance of that account.

(2)  A payment made under subregulation (1) by a contributor or pensioner is taken not to be a contribution for the purposes of these regulations.

(3)  A payment made under subregulation (1) by an Agency on behalf of a contributor or pensioner as part of his or her remuneration is taken to be a contribution by that Agency for the purposes of these regulations.

(4)  On receipt of a payment under this regulation, the Board must –

(a) credit the surchargeable contributions debt account of the relevant contributor or pensioner with that amount; and

(b) take any other action required under the law of the Commonwealth relating to the surcharge liability.

95.   Reduction of benefit entitlements

(1)  A benefit or benefit entitlement payable under these regulations is to be reduced at the time of payment by the Board to the extent of the balance of the surchargeable contributions debt account.

(2)  For the purposes of subregulation (1)  –

(a) where a benefit entitlement payable under these regulations or substituted under regulation 124 is taken wholly as a lump sum, the lump sum benefit entitlement is to be reduced by an amount representing any part of the surchargeable contributions debt account attributable to that benefit entitlement; and

(b) where a person elects to commute part of his or her lump sum benefit entitlement payable under these regulations to a pension –

(i) calculated under regulations 79 and 80 ; or

(ii) calculated in accordance with Schedule 3 ; or

(iii) substituted under regulation 124  –

the part of the benefit remaining as a lump sum is to be sufficient to discharge the balance of his or her surchargeable contributions debt account and an amount representing any part of that account attributable to that benefit entitlement is to be deducted from the lump sum remaining; and

(c) where a person elects to commute all of his or her lump sum benefit entitlement payable under these regulations to a pension calculated under regulations 79 and 80 , part of the benefit must be taken as a lump sum sufficient to discharge the balance of his or her surchargeable contributions debt account and an amount representing any part of that account attributable to that benefit entitlement is to be deducted from the benefit entitlement before the commutation to a pension; and

(d) where a person elects to commute all of a benefit entitlement payable under the contributory scheme to a pension substituted under regulation 124 or a pension in accordance with Schedule 3 , the amount by which the annual pension is to be reduced is determined in accordance with the following formula:

where –

PR is the amount by which the annual pension payable to a pensioner is to be reduced;

SCDA is the balance of the surchargeable contributions debt account attributable to the benefit entitlement at the time when the surcharge liability is payable;

CF is the appropriate age, marital and gender factor specified for a pension determined by the Board in accordance with regulation 80(1) or (2) .

(3)  A person who receives an assessment notice in respect of a pension payable under these regulations may elect in writing to the Board to commute sufficient of his or her pension to a lump sum to discharge the balance of his or her surchargeable contributions debt account.

(4)  On receipt of an election under subregulation (3) , the Board must –

(a) reduce the pension as provided by subregulation (2) ; and

(b) pay the lump sum to that person to enable that person to discharge the balance of his or her surchargeable contributions debt account.

PART 9 - Family Law (Splitting of Superannuation Interests)

96.   Interpretation of Part 9

In this Part –

Family Law Act means the Family Law Act 1975 of the Commonwealth;

flag lifting agreement has the meaning given by section 90MN of the Family Law Act;

flagging order means an order mentioned in section 90MU(1) of the Family Law Act;

member has the meaning given by section 90MD of the Family Law Act;

member spouse has the meaning given by section 90MD of the Family Law Act;

non-member spouse has the meaning given by section 90MD of the Family Law Act;

operative time has the meaning given by section 90MD of the Family Law Act;

splittable payment has a meaning in accordance with section 90ME of the Family Law Act;

splitting instrument means a superannuation agreement, a flagging order, a flag lifting agreement or a splitting order;

splitting order means an order mentioned in section 90MT(1) of the Family Law Act;

spouse has the meaning given by section 90MD of the Family Law Act;

superannuation agreement has the meaning given by section 90MH of the Family Law Act;

superannuation interest has the meaning given by section 90MD of the Family Law Act.

97.   Application of Part 9

This Part applies to –

(a) any splitting instrument that has an operative time on or after 28 December 2002; and

(b) any benefit under these regulations that is a superannuation interest.

98.   Objects of Part 9

(1)  The objects of this Part are to carry into effect the provisions of the Family Law Act relating to the splitting of superannuation interests.

(2)  If a provision of this Part is inconsistent with a provision of the Family Law Act, the latter provision prevails to the extent of the inconsistency.

99.   Duty of Board to give effect to splitting instruments under Family Law Act

(1)  Where a splitting instrument affects an entitlement to a benefit of a member spouse under these regulations, the Board must give effect to that instrument in paying or determining that benefit.

(2)  For the purposes of subregulation (1) , the Board is to reduce the benefit payable to the member spouse in accordance with the splitting instrument.

(3)  Except as provided by subregulation (4) , the Board is not to make a payment to a non-member spouse under this Part before a splittable payment is payable to, or in respect of, the relevant member spouse.

(4)  Where the Board has established a separate account for a non-member spouse under regulation 100 , the Board may make a payment to that non-member spouse in respect of that account as may be required to give effect to the splitting instrument.

100.   Accounts for non-member spouse

(1)  This regulation applies in respect of a member spouse who has an investment account or a compulsory preservation account.

(2)  For the purposes of giving effect to a splitting instrument, the Board, having regard to the advice of the Actuary, may adjust the balance of an investment account or compulsory preservation account of a member spouse to give effect to the division of the superannuation interest of the member spouse in accordance with that instrument.

(3)  For the purposes of this Part, the Board may establish and maintain one or more separate accounts for a non-member spouse as it considers expedient.

(4)  For the purposes of giving effect to a splitting instrument, the Board, having regard to the advice of the Actuary, is to credit an appropriate amount to an account of a non-member spouse as may be required to give effect to that instrument.

101.   Commutation of pension on death of non-member spouses

(1)  Where a share of a pension is payable to a non-member spouse under this Part, the Board is to commute that share to a lump sum if that non-member spouse predeceases the member spouse in respect of whom the pension is being paid.

(2)  For the purposes of subregulation (1) , the commutation factors are to be determined by the Board on the advice of the Actuary.

(3)  A share of a pension paid or payable to a non-member spouse under this Part does not revert to the widow or widower of that non-member spouse on the death of that non-member spouse.

(4)  A lump sum payment calculated under subregulation (1) is to be paid to the legal personal representative of the non-member spouse and is to be made in accordance with Part VIIIB of the Family Law Act.

(5)  A share of a pension payable to a non-member spouse under this Part ceases –

(a) on the death of the relevant member spouse; or

(b) where a reversionary pension is payable in respect of a member spouse, on the cessation of that reversionary pension.

102.   Effect of benefit under splitting instruments

If a member spouse dies and is survived by a non-member spouse who has received, is receiving or is entitled to receive a benefit under a splitting instrument in respect of the superannuation interest of the member spouse, that non-member spouse is not entitled to a benefit under these regulations in respect of the deceased member spouse except in accordance with that instrument.

103.   Fees for administration of Part 9

For the purposes of administering this Part, the Board may charge reasonable fees in accordance with the Family Law Act.

104.   Provision of information by Board

Where an eligible person, within the meaning of section 90MZB of the Family Law Act, has applied to the Board for information in accordance with that section about the superannuation interest of a member, the Board must comply with the requirements of that Act.

PART 10 - Financial

105.   Cost of administration

The expenses incurred in the administration of these regulations are to be paid out of the Fund.

106.   Determination of employer component of benefits

(1)  For the purposes of these regulations, the employer component of a benefit to be paid by the Minister or a prescribed authority is, subject to subregulation (2) , five-sevenths.

(2)  The Minister may, on advice from the Actuary and by notice published in the Gazette, determine that the employer component of a benefit to be paid by the Minister or a prescribed authority is to be such proportion as is specified in the notice.

(3)  A notice under this regulation –

(a) may have effect in respect of a class of benefits specified in the notice; and

(b) may have effect as from a date specified in the notice; and

(c) is not a statutory rule for the purposes of the Rules Publication Act 1953 .

107.   Payments to Fund by Minister and prescribed authorities

(1)  Where a benefit is payable under these regulations, the Minister or a prescribed authority is to pay such proportion of that benefit as is provided by this regulation.

(2)  The payment in the case of a person who receives –

(a) a lump sum benefit from the Fund under regulation 47 , 50 , 51 , 53 or 101 or, if such a benefit is converted to a pension under regulation 79 , that pension; or

(b) an interim invalidity pension payable under regulation 57 ; or

(c) an interim pension payable under regulation 58  –

is to be an amount in respect of each pension or lump sum payment equal to the proportion determined under regulation 106(2) of the lump sum or pension that would have been payable if the person had always contributed at the basic contribution rate.

(3)  The payment in the case of a person who is paid a lump sum benefit from the Fund under regulation 54 is to be an amount equal to –

(a) if the person is a contributor to whom regulation 48 refers who –

(i) [Regulation 107 Subregulation (3) amended by S.R. 2005, No. 147, Applied:27 Jul 2005] becomes entitled to an amount under regulation 54 ; and

(ii) ceases to be a contributor otherwise than by reason of a prescribed arrangement –

the whole of the amount, less the sum payable from the Fund under regulation 54(4)(a) ; or

(b) if the person ceases to be a contributor as a result of a prescribed arrangement and is entitled to both a benefit under regulation 48 and an amount under regulation 54(9)(a) , the total benefit payable under regulation 48 less the amount payable from the Fund under regulation 54(4)(a) ; or

(c) if the person ceases to be a contributor as a result of a prescribed arrangement and is entitled to a benefit under regulation 49 and an amount under regulation 54(13) , the total benefit payable under regulation 49 that exceeds the balance of his or her account under regulation 42 ; or

(d) if the person ceases to be a contributor in accordance with regulation 52 and becomes entitled to a benefit payable under regulation 54(11) , the whole of the benefit that is in excess of the balance standing to the credit of the contributor's account under regulation 42 .

(4)  The payment in the case of a person entitled to a lump sum benefit which becomes payable under regulation 67 is to be an amount equal to the whole of that lump sum benefit.

(5)  The payment in the case of a person entitled to a pension continued or payable under Schedule 5 is to be an amount calculated as a percentage of the pension, which is to be the same percentage that the Minister or prescribed authority was contributing towards that pension or benefit immediately before the commencement day.

(6)  The payment in the case of a person who receives a pension payable under regulation 81 is to be an amount calculated as a percentage which is to be the same percentage that the Minister or prescribed authority was contributing immediately before the date of death of the relevant pensioner.

(7)  The payment in the case of a person who receives a lump sum payment from the Fund under regulation 86 is to be an amount calculated as a percentage of the lump sum which is the same percentage that the Minister or prescribed authority was contributing towards the pension payable immediately before the election to commute all or part of that pension to a lump sum payment.

(8)  The payment in the case of a person who receives a lump sum or pension payment from the Fund under regulation 124 is to be an amount determined by the Board on the advice of the Actuary.

(9)  References in this regulation to pensions are taken to be references to pensions as increased each half-year under regulation 82 .

(10)  The amount payable by the University of Tasmania in respect of a former employee of the Tasmanian College of Advanced Education who was transferred in employment to the University of Tasmania is to be calculated in accordance with Schedule 4.

(11)  An amount that, but for this subregulation, would have been payable by the Minister under this regulation in respect of a person for whom money is deposited in the Fund under regulation 109 is to be paid from the money so deposited and any accretions to that money.

(12)  If the total of the money deposited in the Fund under regulation 109 and all accretions to that money is insufficient to meet an amount payable under this regulation, the Minister must pay to the Fund or the separate accounts referred to in regulation 109 an amount sufficient to enable the first-mentioned amount to be so paid.

108.   Payments to Fund in respect of benefits reduced under Part 8

(1)  This regulation applies to a benefit which has been reduced under Part 8 .

(2)  Notwithstanding regulation 107 , the Minister or a prescribed authority is to pay to the Fund, in respect of a benefit which has been reduced under regulation 95(2) , an amount equal to the proportion of the lump sum benefit determined under regulation 106(2) before the reduction of the relevant surchargeable contributions debt account.

109.   Provision for certain State authorities

(1)  The Board must maintain separate accounts for money paid to it under –

(a) section 29D of the Retirement Benefits Act 1982 ; or

(b) section 29E of the Retirement Benefits Act 1982 ; or

(c) where appropriate, a prescribed arrangement.

(2)  The Board must credit to the separate accounts as may be appropriate –

(a) all such money paid; and

(b) interest at a rate determined in accordance with regulation 112 in respect of the amounts from time to time standing to the credit of those accounts.

(3)  The Board may debit the separate accounts with any of the following amounts:

(a) an amount relating to the taxation liability and to the expenses incurred in the administration of the accounts;

(b) an amount authorised by these regulations;

(c) an amount approved by an instrument in writing made by the Minister for the purposes of these regulations.

110.   Provision for payments by the State

(1)  An amount that is required by these regulations to be paid to the Fund by the Minister is to be paid by the Minister out of the Public Account.

(2)  An amount that is required by these regulations to be paid to the Fund by a prescribed authority is to be paid within 7 days after a claim is issued by the Board and, on failure to make that payment in full, the Board may impose interest on the arrears of that amount at a rate determined by the Board.

(3)  Where the Board requires a payment under these regulations by the Minister or a prescribed authority, the claim issued by the Board is to be in a form determined by the Board.

111.   Apportionment of employer liability

(1)  In this regulation –

apportionment transfer means a transfer where a contributor is appointed, transferred or promoted from –

(a) a prescribed authority to another prescribed authority; or

(b) a prescribed authority to a non-funding Agency; or

(c) a non-funding Agency to a prescribed authority;

current Agency means the prescribed authority or non-funding Agency in which the contributor is currently employed;

former Agency means the prescribed authority or non-funding Agency in which the contributor was formerly employed immediately before he or she was subject to an apportionment transfer;

non-funding Agency means an Agency where the employer component of the superannuation benefits payable to a contributor are paid by the Minister.

(2)  Where a contributor is subject to an apportionment transfer on or after the commencement day, the current Agency may request the Board, within 60 days after the date of the apportionment transfer, to apportion the employer liability in accordance with this regulation.

(3)  On a request being made by the current Agency under subregulation (2) , the former Agency must pay to the current Agency an amount determined by the Board in accordance with the following formula:

where –

P is the amount to be paid by the former Agency to the current Agency;

ABMF is the contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the contributor's length of service expressed in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

FAS(1) is the salary paid or payable to the contributor in respect of the 12 months immediately preceding the cessation of his or her employment in the former Agency;

AF is an actuarial factor determined by the Board on the advice of the Actuary having regard to the age of the contributor;

ES is the employer component of the benefit determined under regulation 106 .

(4)  For the purposes of the definition of "ABMF" in subregulation (3) , a contributor's length of service is taken to end on the day when he or she ceased employment in the former Agency.

(5)  A determination under subregulation (3) is to be made by the Board and provided to the former Agency within 60 days after a request is made by the current Agency under subregulation (2) .

(6)  An amount payable under subregulation (5) is to be made by the former Agency to the current Agency within 30 days after the date of receipt of the Board’s determination.

(7)  A payment made by the former Agency to the current Agency in accordance with this regulation extinguishes any superannuation liability of the former Agency in respect of the contributor.

(8)  The Board is not to apportion the employer liability of any benefit arising from an appointment, promotion or transfer of a contributor to a current Agency that occurred before the commencement day.

112.   Fixing of interest rates

(1)  For the purposes of Part 5 and regulation 109 , the interest rate is to be calculated as at 30 June of each financial year.

(2)  The interest rate –

(a) is to be determined by the Board, on the advice of the Actuary; and

(b) is to include as income any unrealised capital gains and losses referred to in regulation 26(4) .

(3)  In determining the interest rate for a financial year, the Board is to take into account the administration, taxation and other expenses that –

(a) were paid or payable by the Board in respect of that financial year; and

(b) are likely to be incurred by the Board in the financial year immediately following that financial year.

(4)  The Board may determine an interim interest rate.

(5)  For the purposes of Part 5 , interest commences to accrue, in respect of a contributor's contributions that are to be credited to his or her account, on the day those contributions or other payments made by, or on behalf of, the contributor are received by the Board and ceases to accrue on the day on which that contributor ceases to be a contributor.

(6)  For the purpose of regulation 109 , interest commences to accrue on the day on which the money is received by the Board.

113.   Income distributions for investment options

(1)  This regulation applies to subfunds established for the purpose of investment accounts and allocated pension accounts.

(2)  The Board is to calculate and determine interest rates, at least annually, in respect of each investment option, having regard to –

(a) the earning rate of the investment option; and

(b) the Board's investment strategies and policies; and

(c) any allowances for unrealised capital gains or losses; and

(d) the administration, investment management, taxation and other expenses that the Board has paid or is likely to pay as provided by regulation 105 ; and

(e) the advice of the Actuary.

(3)  The Board must credit interest, at least annually, to investment accounts and allocated pension accounts having regard to –

(a) the Board's income distribution policy; and

(b) the investment option or options elected by the holder of the relevant account, or where no such election has been made, as otherwise determined by the Board.

(4)  The Board must, at least annually, advise a person holding an investment account or an allocated pension account of the Board's income distribution policy and any changes to that policy.

PART 11 - Discretionary Powers of Board

Division 1 - Reduction in salary

114.   Interpretation of Division 1

In this Division –

relevant period means the period commencing on the day on which a reduction in a contributor's salary took effect and ending on –

(a) the day on which, by reason of a subsequent increase or increases of salary, his or her salary becomes equal to, or greater than, the salary payable immediately before the reduction took effect; or

(b) the day on which he or she ceased to be a contributor –

whichever happens first.

115.   Reduction in salary of certain contributors

(1)  If there is a reduction in the salary of a contributor who is not excluded from the application of this regulation under subregulation (2) , he or she may, in accordance with this regulation, continue to pay the same contributions to the Fund in respect of the relevant period as he or she was paying immediately before the reduction in salary took effect.

(2)  This regulation does not apply to –

(a) an amalgamated contributor; or

(b) a contributor whose salary is reduced by reason –

(i) of his or her participation in an accumulated leave scheme; or

(ii) of becoming a part-time employee, whether permanent, fixed-term or temporary; or

(iii) that, as a part-time employee, whether permanent, fixed-term or temporary, his or her designated hours of employment have been reduced by his or her Agency; or

(c) a member of a board who, under section 29B of the Act, has no entitlement to contribute to the contributory scheme in respect of his or her membership of that board; or

(d) a member of the contributory scheme to whom section 29C of the Act applies.

(3)  A contributor to whom this regulation applies may, not later than one year after the reduction in his or her salary, apply in writing to the Board for its approval to pay contributions in accordance with this regulation.

(4)  The Board may approve the application if satisfied that it is just and equitable to do so, having regard to the duration of the period when the contributor's salary was higher than his or her salary at the time when the application was made and, if the Board so approves, the Board must accordingly determine –

(a) an amount to be regarded as the contributor's salary for the purposes of this regulation; and

(b) the rate at which contributions should be paid; and

(c) any arrears of contributions and interest required to be paid by the contributor.

(5)  For the purposes of subregulation (4)(a) , the amount determined by the Board must not exceed the contributor's salary payable immediately before the reduction took effect.

(6)  Where an approval is given under subregulation (4) and the contributor has paid –

(a) contributions in accordance with the Board's determination; and

(b) any arrears of contributions and interest as determined by the Board –

his or her entitlement to a pension or lump sum benefit is to be calculated as if his or her salary had remained as determined by the Board during the relevant period.

116.   Reduction in salary of amalgamated contributors

If the salary of an amalgamated contributor is reduced –

(a) the contributor must continue to pay the same contributions to the Fund as he or she was paying immediately before the reduction in salary took place; and

(b) the contributor's pension or lump sum benefit is to be calculated as if the salary had remained unaltered.

Division 2 - Miscellaneous powers of Board

117.   Determination of questions arising under regulations

(1)  If a question arises as to –

(a) whether any amount periodically paid or payable to or on behalf of a contributor is to be regarded as part of that contributor's salary for the purposes of these regulations; or

(b) the rate of a contributor's salary at any particular time; or

(c) whether any amount received by a contributor is to be regarded as the amount of an allowance; or

(d) the nature or length of a contributor's service –

the question is to be determined by the Board.

(2)  In making a determination for the purposes of subregulation (1)(d) , the Board is to have regard to the contributor's terms of employment.

118.   Power of Board to determine invalidity

(1)  In this regulation –

interim invalidity means incapacity or infirmity of such a kind, that the Board is satisfied that a contributor –

(a) is unfit to perform the duties of his or her office or position; and

(b) is likely to recover sufficiently so as to enable him or her to perform the duties of his or her position, or the duties of some other office or position for which he or she is reasonably qualified by education, training or experience; and

(c) should not be retired on the grounds of total and permanent incapacity or partial and permanent incapacity;

partial and permanent incapacity, in respect of an existing contributor or amalgamated contributor, means infirmity or incapacity suffered by the contributor of such a kind that the Board –

(a) is satisfied, by reason of his or her suffering from that infirmity or incapacity, the contributor is unfit to continue to perform the duties of his or her office or position or the duties of some other office or position for which he or she may be suited by training, experience and aptitude, or any of them; and

(b) is not satisfied that, by reason of his or her so suffering, the contributor is, and until the age of 65 years will continue to be, unfit to continue to perform the duties of his or her office or position or the duties of some other office or position referred to in paragraph (a) ;

total and permanent incapacity means ill-health, whether physical or mental, where the Board is reasonably satisfied that a person is unlikely, owing to ill-health, ever again to engage in gainful employment for which the person is reasonably qualified by education, training or experience.

(2)  An application by a contributor for an invalidity benefit is to be made to the Board in a form approved by the Board.

(3)  Where the Board has received an application for an invalidity benefit from a contributor, the Board must determine whether that contributor is suffering from –

(a) total and permanent incapacity; or

(b) in the case of an existing contributor or an amalgamated contributor, partial and permanent incapacity; or

(c) interim invalidity.

(4)  Where an application has been received from a contributor for an invalidity benefit, the Board may, subject to regulation 123 , make a determination in respect of that contributor's eligibility for an invalidity benefit only while that contributor remains in the employment of an Agency.

(5)  The Board must periodically determine whether an invalidity pensioner under the age of 65 years is eligible to continue to receive the whole or part of his or her invalidity pension.

(6)  When making a determination under subregulation (5) as to whether an interim invalidity pensioner is eligible to continue to receive the whole or part of his or her interim invalidity pension, the Board must also determine whether that contributor is suffering from –

(a) total and permanent incapacity; or

(b) partial and permanent incapacity, in the case of an existing contributor or an amalgamated contributor.

(7)  If the Board has received an application for the early release of a preserved benefit on the ground of total and permanent incapacity from a person who has a preserved benefit under these regulations, the Board is to determine whether that person is suffering from total and permanent incapacity.

(8)  In making a determination under this regulation, the Board is to have regard to –

(a) any medical or other evidence obtained by the Board, which must include a medical report in respect of the relevant person, prepared during the preceding period of 6 months, by a legally qualified medical practitioner appointed or employed by the Board; and

(b) any medical or other evidence provided by, or on behalf of, the relevant person.

(9)  Where the Board has made a final decision in accordance with regulation 126 , in respect of an application for an invalidity benefit, the Board must notify its decision in writing to the Head of the Agency in which the contributor is employed.

(10)  A contributor who was in receipt of an interim invalidity pension which has expired, may be entitled to a further interim invalidity pension at such time, and in such circumstances, as the Board may determine.

119.   Broken service

[Regulation 119 Substituted by No. 65 of 2005, Sched. 1, Applied:15 Dec 2005]

(1)  Where the service of a contributor is broken for a period not exceeding –

(a) 6 weeks as the result of the resignation of that person from employment in an Agency; or

(b) 3 months as the result of the resignation of that person from employment in an Agency on becoming a candidate for election as a member of a House of Parliament; or

(c) 3 months for any other reason –

and that person requests in writing to the Board within 3 months after again becoming a permanent employee or being employed under a prescribed contract of employment, the Board may determine that the break does not affect the continuity of that person’s service.

(2)  If the Board determines, under subregulation (1) , that the break does not affect the continuity of that person's service, that person may purchase the period of service which, but for subregulation (1) , would have constituted a break in his or her service as if it were leave without pay under regulation 39(3) or (4) .

(3)  This regulation has effect notwithstanding any other provision of these regulations.

120.   Medical examinations for entitlement to full benefits

(1)  A contributor is entitled to be treated as a full benefits contributor only as provided by this regulation.

(2)  A contributor who is not so entitled to be treated as a full benefits contributor is taken to be a limited benefits contributor.

(3)  A contributor becomes a full benefits contributor if –

(a) a legally-qualified medical practitioner employed or approved by the Board has examined the contributor and has signed a certificate stating that, in his or her opinion, the contributor is not affected by any physical or mental defect likely to render him or her incapable, before attaining the age of 60 years, of performing his or her duties; and

(b) after considering the certificate of the medical practitioner, the Board accepts the contributor as a full benefits contributor.

(4)  A contributor who –

(a) does not undergo a medical examination referred to in subregulation (3) ; or

(b) having undergone such a medical examination, is not accepted by the Board as a full benefits contributor –

is taken to be a limited benefits contributor and to remain such a contributor until he or she –

(c) undergoes a medical examination referred to in subregulation (3) and is accepted by the Board as a full benefits contributor; or

(d) [Regulation 120 Subregulation (4) amended by S.R. 2005, No. 147, Applied:27 Jul 2005] has, while being continuously employed, made contributions to the contributory scheme for a total period of 10 years, in which case he or she is taken to be a full benefits contributor.

(5)  [Regulation 120 Subregulation (5) inserted by S.R. 2005, No. 147, Applied:27 Jul 2005] For the purpose of subregulation (4)(d) , the total period of 10 years is not taken to include –

(a) any periods purchased under regulation 31 ; or

(b) any service while on sick leave without pay after the commencement day.

121.   Medical examinations for invalidity pensioners

(1)  An invalidity pensioner must submit for a medical examination as and when required by the Board and, if he or she fails to do so, the Board may suspend payment of his or her pension until he or she submits for the medical examination.

(2)  If the Board suspends payment of a pension under subregulation (1) , the pension ceases to be payable for the period of the suspension.

(3)  This regulation applies to an applicant for an invalidity pension as if he or she were an invalidity pensioner.

122.   False and misleading information

(1)  A person must not –

(a) in a certificate, return, declaration or other document given or sent to, or lodged with, the Board by or on behalf of that person for the purposes of these regulations, knowingly furnish information that is false or misleading or knowingly withhold any relevant information; or

(b) for the purposes of a medical examination required to be undergone under these regulations, knowingly furnish the medical practitioner by whom the examination is made with information as to the state of his or her health or his or her medical history that is false or misleading or knowingly withhold any relevant information.

Penalty:  Fine not exceeding 50 penalty units.

(2)  If a person is convicted of an offence under subregulation (1) , the Board may –

(a) in the case of a contributor, determine –

(i) that the person immediately ceases to be a contributor and is not eligible, either permanently or for any period that the Board determines, to contribute to the Fund; or

(ii) if contributions have not commenced, that the person is not eligible to commence to contribute to the Fund either permanently or for any period that the Board determines; or

(b) in the case of a pensioner, determine that his or her pension is cancelled immediately; or

(c) in the case of a person other than a contributor or pensioner, determine that the person is not eligible to commence to contribute to the Fund, either permanently or for any period that the Board determines.

(3)  Where the Board has determined, under subregulation (2) , that a contributor who has been convicted of an offence under subregulation (1) should cease to be a member of the contributory scheme –

(a) the Board must, as soon as practicable, transfer to an account in his or her name in the accumulation scheme the balance of that person's account established under regulation 42 ; and

(b) that person is to be placed in the same position as if he or she had always been a member of the non-contributory scheme or the accumulation scheme, as the case may require.

(4)  For the purposes of subregulation (3)(b)  –

(a) the Board is to credit interest on employer superannuation contributions made in respect of that person for the relevant period at the rate or rates credited to members of the accumulation scheme in the absence of an election for investment choice under the Trust Deed; and

(b) any employer superannuation contributions payable are to be paid by the relevant Agency.

123.   Power of Board to reinstate lost rights

(1)  If the Board is satisfied, after such inquiry as it thinks fit, that –

(a) a person has, otherwise than through his or her own fault, lost or ceased to be entitled to a right, privilege or benefit under –

(i) these regulations; or

(ii) the Retirement Benefits Act 1982 ; or

(iii) the former regulations –

to which he or she was otherwise entitled or might have obtained; and

(b) it is equitable that he or she should be allowed to have the enjoyment of that right, privilege or benefit –

the Board, with the approval of the Minister, may permit that person to exercise the right or grant to him or her the privilege or benefit, notwithstanding that the time prescribed for doing any act in respect of the entitlement may have expired.

(2)  The Board must not exercise its powers under subregulation (1)  –

(a) so as to allow a person who, at the time when the Board makes a determination under that subregulation, is not an employee to become a contributor; or

(b) so as to allow a person who is no longer a contributor to effect a change in the date on which he or she became a contributor; or

(c) so as to allow a person to utilise a percentage calculated, or factor determined, by the Actuary which is not the relevant percentage or factor in force at the time of the Minister's approval.

(3)  The Board, in the exercise of its powers under subregulation (1) , may impose any conditions and requirements that it considers just and the Minister approves.

124.   Power of Board to grant pensions or lump sums not in accordance with regulations

(1)  Where an existing contributor or amalgamated contributor elects in writing to the Board to receive a benefit to which he or she would have been entitled under the Retirement Benefits Act 1982 , the Board is to substitute the benefit payable under these regulations with the benefit payable under that Act on any terms and conditions that the Board considers to be fair and equitable.

(2)  For the purposes of subregulation (1) , a reference to an existing contributor includes that contributor's surviving partner or, in the absence of a surviving partner, that contributor's legal personal representative.

(3)  For the purpose of subregulation (1) , the Board is to calculate the benefit entitlement under the SAF Agreement by taking the balance standing to the credit of the contributor's account under the SAF Agreement, as at 30 June 1994, and indexing that balance at a rate declared by the Board, for each period of 6 months, as being equal to whichever is the greater of –

(a) movements in AWOTE; or

(b) movements in the Consumer Price Index.

(4)  For the purpose of subregulation (3) , movements in AWOTE or Consumer Price Index figures are to be calculated using the most recently published figures before the indexation under subregulation (3) is applied.

(5)  Notwithstanding subregulation (1) , the Board may make payments of interest in respect of any benefit entitlement or further payments of interest in respect of any refunds of contributions or other payments in any circumstances it considers appropriate.

(6)  For the purpose of determining a benefit to be substituted under subregulation (1) , the Board is to calculate that benefit by reference to the balance of that contributor's account established under regulation 42 .

PART 12 - Review of Board's Decisions

125.   Board not subject to direction

(1)  Except as provided in this Part, a person is not to give a direction to the Board, vary a decision of the Board or substitute a decision for a decision of the Board if compliance with the direction, the variation or the substituted decision would be contrary to law or to these regulations.

(2)  Subregulation (1) does not apply to –

(a) a direction given by a court; or

(b) a direction given by a beneficiary that relates to the method of payment of the benefit entitlement payable to that beneficiary; or

(c) a direction given by a beneficiary that relates to a member investment option available under these regulations to that beneficiary's benefit entitlement.

126.   Statutory hearing

(1)  In respect of any application, request or question arising under regulation 85 , regulation 92 or Part 11 , the Board must –

(a) make a preliminary decision on the matter; and

(b) notify the applicant or person making the request in writing of the preliminary decision; and

(c) advise the applicant or person making the request that, if he or she does not take any action under this regulation, the preliminary decision will become final.

(2)  An applicant or person making the request may, within 21 days after the date of a notification under subregulation (1) , elect by notice in writing to the Board –

(a) to appear and be heard before the Board; and

(b) to submit any additional medical report or other evidence.

(3)  Before making a final decision on the application, request or question, the Board may do one or more of the following, as it considers appropriate:

(a) require the applicant to undergo a further medical examination by a legally-qualified medical practitioner or practitioners approved by the Board;

(b) seek further information from the applicant's Head of Agency or former Head of Agency;

(c) seek further information concerning the applicant's capacity and prospects for employment;

(d) require the applicant or person making the request to submit further evidence as the Board may consider appropriate.

(4)  The Board, in the exercise of its powers under subregulation (3) , may impose any terms or conditions that the Board considers fair and equitable.

(5)  If an election under subregulation (2) is not made within the required time, the preliminary decision is taken to be the final decision of the Board.

(6)  The Board may reduce or extend the period referred to in subregulation (2) on the written application of the applicant within the period of 21 days referred to in that subregulation.

127.   Right to apply to Supreme Court for declaration as to validity

(1)  If the Board has made a final decision under regulation 126 adversely to an applicant, he or she may, within 6 months after notification of the final decision, require the Board to apply to the Supreme Court for a declaration in respect of that final decision.

(2)  Subject to subregulation (3) , the Supreme Court may, on an application under subregulation (1) , make a declaration, having regard to facts existing and events that had occurred at the time when the Board's final decision was made, as to the validity or otherwise of that final decision.

(3)  The Supreme Court must not make a declaration under subregulation (2) in respect of a final decision of the Board the validity of which cannot be decided at the time when the Court is asked to make the declaration.

(4)  For the purpose of reviewing a final decision by the Board, the Supreme Court has all the powers and discretions that are conferred on the Board by law or under the Act.

(5)  The Supreme Court may make a declaration –

(a) affirming the Board's final decision; or

(b) remitting the matter to which the Board's final decision relates to the Board for reconsideration in accordance with the directions of the Court; or

(c) varying the Board's final decision; or

(d) setting aside the Board's final decision and substituting another decision for that final decision of the Board.

(6)  Except as provided in subregulations (7) and (8) , the cost of making the application to the Supreme Court is to be met by the Board from the Fund.

(7)  If an applicant requires the Board to apply to the Supreme Court for a declaration, he or she must pay to the Board at the time of making that request an application fee of 200 fee units.

(8)  If the Supreme Court considers that the request made by the applicant is frivolous or not in good faith, the Court may award costs in full or part against that applicant.

(9)  The application of this regulation extends to an application made by the Board to the Supreme Court before the commencement of the Retirement Benefits (Miscellaneous Amendments) Act 2001 which had not been determined before that commencement.

128.   Appeal against decisions, determinations or orders of Board

(1)  Notwithstanding regulation 127 , a person may appeal to a judge against any decision, determination or order of the Board.

(2)  An appeal under this regulation is to be by way of rehearing and instituted, heard and determined in accordance with the Supreme Court Rules 2000 relating to appeals from statutory tribunals other than courts.

PART 13 - Miscellaneous and Supplemental

129.   Pensions and benefits not assignable

(1)  Except as provided by regulation 130(4) , an entitlement under these regulations –

(a) is not available as security for a loan and is not otherwise subject to any assignment, mortgage, charge, encumbrance or lien; and

(b) on the death of the person so entitled, is not, in the absence of a surviving partner, available as an asset in his or her estate for the payment of his or her debts or liabilities.

(2)  A pension or other benefit payable under these regulations is not capable of being assigned, charged, taken in execution or passed under any law to any person other than the pensioner to or for whose benefit it is payable.

(3)  Subregulation (2) does not prevent a pensioner or other person entitled to a benefit from assigning to, or charging in favour of, the Board any pension or other benefit so far as may be necessary for securing the payment of money payable to the Board.

(4)  This regulation does not disturb the effect of Part 9 .

129A.   Determination of surviving partner

[Regulation 129A Inserted by S.R. 2006, No. 155, Applied:27 Dec 2006]

(1)  If the Board is satisfied that, at the time of an RBF member's death –

(a) a person –

(i) was the spouse of the RBF member who was living with the RBF member on a genuine domestic basis; and

(ii) was receiving significant financial support from the RBF member; or

(b) if there is no person referred to in paragraph (a) , a person was the spouse of the RBF member and was living with the RBF member on a genuine domestic basis; or

(c) if there is no person referred to in paragraph (a) or (b) , a person was the spouse of the RBF member who was not living with the RBF member on a genuine domestic basis but was receiving significant financial support from the RBF member –

the Board must determine that person to be the surviving partner of the RBF member.

(2)  The Board must not determine more than one person to be the surviving partner of an RBF member.

(3)  In determining whether a person is the surviving partner of an RBF member, the Board may have regard to such matters as it considers relevant.

130.   Payment of benefits on death of RBF member

(1)  Except as provided in subregulations (2) and (3) , where a benefit is payable under these regulations on the death of an RBF member, that benefit is to be paid to –

(a) the surviving partner of that RBF member; or

(b) if there is no surviving partner, the person with whom the RBF member was in a caring relationship which was the subject of a deed of relationship registered under Part 2 of the Relationships Act 2003 , which deed was revoked by the death of that RBF member; or

(c) if there is no person referred to in paragraph (a) or (b) , the estate of that RBF member, subject to the production of grant of probate or letters of administration.

(2)  An RBF member may, by notice in writing to the Board –

(a) elect that in the event of his or her death all or part of the benefit payable on his or her death is to be paid to his or her estate; or

(b) revoke any such election –

and, where the election is in force, subregulation (1) does not apply to any part of the benefit that is subject to the election.

(3)  Subregulation (1) does not apply where an RBF member has elected in writing to the Board before the commencement of the Relationships Act 2003 to have all or part of a death benefit paid to his or her estate.

(4)  If a benefit that does not exceed $50 000 becomes payable under these regulations following the death of an RBF member and within 3 months after the death the Board has not received –

(a) a certified copy of the probate of the will, or the letters of administration of the estate, of the deceased RBF member; or

(b) a notice of intention to apply for a grant of probate of the will, or letters of administration of the estate, of the deceased RBF member –

the Board may make a payment of the benefit to a person or persons who appear to be entitled to the benefit in the testate or intestate administration of the estate of the RBF member, as the case may require.

(5)  Where the Board, after making reasonable enquiries, is unable to determine a person entitled to that benefit in the testate or intestate administration of the estate of the RBF member, the Board may pay that benefit to any person the Board considers appropriate.

131.   Duties of responsible officers and Board to provide information

(1)  In this regulation –

relationship status means the status of being married or in a significant relationship, within the meaning of the Relationships Act 2003 , or in a caring relationship which is the subject of a deed of relationship registered under Part 2 of that Act.

(2)  A responsible officer must –

(a) where an employee becomes a contributor, immediately notify the Board in a form approved by the Board of the following particulars relating to the contributor:

(i) his or her surname and given names;

(ii) his or her date of birth;

(iii) his or her sex and relationship status;

(iv) his or her postal address;

(v) his or her private address;

(vi) his or her employment status and percentage of full-time equivalent hours;

(vii) the date of commencement of his or her service;

(viii) his or her rate of salary;

(ix) [Regulation 131 Subregulation (2) amended by S.R. 2007, No. 37, Applied:01 Jul 2007] his or her tax file number; and

(b) on being notified of any changes in the information referred to in paragraph (a)(i) , (ii) , (iii) , (iv) , (v) or (ix) , notify the Board of those changes; and

(c) notify the Board of any changes in the information referred to in paragraph (a)(vi) , (vii) or (viii) ; and

(d) on resignation, death or retirement of a contributor, furnish the Board with any documents completed by that contributor, his or her surviving partner or his or her legal personal representative and the responsible officer that may be necessary to support the payment of benefits accruing under these regulations.

(2A)  [Regulation 131 Subregulation (2A) inserted by S.R. 2007, No. 37, Applied:01 Jul 2007] On request from the Board, the responsible officer of an Agency must provide the Board with the tax file number of a contributor who is employed in that Agency.

(3)  On receipt of information referred to in subregulation (2) , the Board must deliver or forward to the contributor –

(a) any relevant forms, notice of election and brochures required to be provided to the contributor by these regulations; and

(b) information and notices required to be provided to the contributor under any law of the Commonwealth for the purposes of these regulations.

(4)  The Board is to maintain a record in respect of each contributor including in particular a copy of all notifications issued or received under this regulation.

(5)  In any proceedings against the Board –

(a) where a document purporting to be a copy of a notification under this regulation is in the record relating to a contributor, that document is evidence that the notification has been issued to and received by the contributor; and

(b) where a document purporting to be a copy of any information given by the Board to a person relating to his or her benefit entitlement under these regulations is in the record relating to that person, that document is evidence that that information was given to that person.

132.   Contributors seconded to Commonwealth, another State, a Territory or private sector

(1)  If a contributor was transferred to the Public Service of the Commonwealth or of another State or of a Territory otherwise than in a permanent capacity before 1 July 1994, any salary paid by the Commonwealth, that State or that Territory in respect of service in that Public Service is taken to be salary within the meaning of these regulations and his or her rights and obligations under these regulations are to be adjusted accordingly.

(2)  Notwithstanding subregulation (1) , a contributor who is seconded –

(a) to the public service of the Commonwealth; or

(b) to the public service of another State or a Territory; or

(c) to employment in the private sector –

continues to be a contributor and the period during which he or she is so seconded is taken to be service for the purposes of these regulations.

(3)  The employer to which the contributor is seconded must pay to the Minister or a prescribed authority an amount of employer superannuation contributions at a rate equivalent to the rate applicable to a contributor who is employed in the Agency from which the contributor has been seconded.

(4)  Notwithstanding any other provision of these regulations but subject to subregulation (5)  –

(a) the contributor must continue to pay contributions based on the current substantive salary of the position held immediately before the secondment; and

(b) during the period of the secondment his or her salary is taken, for the purposes of these regulations, to be the current substantive salary of the position held immediately before the secondment.

(5)  In the case of a secondment that is approved by the Minister for the purposes of this regulation –

(a) the contributor must pay contributions to the contributory scheme based on the salary received during the period of the secondment; and

(b) the employer to which the contributor is seconded must pay to the Agency from which the contributor has been seconded an amount of employer superannuation contributions based on that salary and at a rate equivalent to the rate applicable to a contributor who is employed in the Agency from which the contributor has been seconded; and

(c) any benefit under these regulations payable to the contributor is to be determined by reference to that salary.

(6)  Notwithstanding subregulations (3) and (5) , where an employer to which a contributor is seconded has made payments to the Minister in respect of a seconded employee before the commencement day, the employer must continue to make those payments to the Minister unless otherwise agreed with the Agency from which the contributor has been seconded.

133.   Pensions and benefits not office of profit under Crown

A person in receipt of a pension under these regulations or who is entitled to a preserved benefit under regulation 67 does not, for the purposes of any Act, hold an office or place of profit under the Crown arising from that receipt or entitlement.

134.   Proof of service of notices and documents

A correctly addressed copy of a notice or document kept by the Board, including a copy kept in electronic form, is evidence that the notice or document has been served by the Board on the addressee.

135.   Applications for pensions and lump sum payments

(1)  An application for a pension or lump sum benefit is to be in a form approved by the Board.

(2)  An application for a pension or lump sum benefit is to be supported by such evidence as the Board may require for the purpose of establishing an entitlement to the pension or lump sum benefit.

136.   Power of Board to seek further information

(1)  The Board may require a person making an application for the payment of a benefit under these regulations –

(a) to provide the Board with any reports, certificates, documents or information required for the purpose of establishing an entitlement to the benefit; or

(b) to provide the Board with authority to obtain from another person any such reports, certificates, documents or information.

(2)  A requirement may be made only in respect of reports, certificates, documents or information that are relevant to the assessment of an application for the payment of a pension or a benefit.

(3)  If a person fails to comply with subregulation (1) , the Board may take any action in respect of the benefit which, in the opinion of the Board, would place the person as nearly as possible in the same position as if that subregulation had been complied with.

137.   Power of Board to withhold payment of benefits

The Board may withhold payment of benefits payable under these regulations if, after such investigation as it thinks fit, the Board has a reasonable doubt as to whether or not the claimant is entitled to receive the benefit.

138.   Savings and transitional provisions

The savings and transitional provisions specified in Schedule 5 have effect.

139.   Statutory Rules rescinded

The Statutory Rules specified in Schedule 6 are rescinded.

SCHEDULE 1 - Election of Members of Board

Regulation 9(4)

1.   Interpretation

In this Schedule –

appointed day means the day appointed for holding an election under clause 3 ;

election means an election of a member of the Board referred to in regulation 9(2)(b)(i) or (ii) ;

returning officer means a person appointed by the Board under clause 2 .

2.   Appointment and functions of returning officer

(1) The Board must appoint a person as the returning officer for the purposes of an election of a member of the Board.

(2) The returning officer, if he or she is otherwise qualified to vote at the relevant election, is entitled to vote in the same manner as if he or she had not been appointed as the returning officer for that election.

(3) The returning officer, subject to these regulations, is to determine all questions of detail relating to the relevant election and the validity or otherwise of any ballot paper.

3.   Notice of holding election

(1) The Board, by notice in the Gazette, is to appoint a day for the holding of an election.

(2) A notice under subclause (1) is to specify –

(a) the place at which it is proposed to hold the election to which the notice relates; and

(b) the day, which is not less than 21 days before the appointed day, and the hour of that day on or before which nominations are to be received by the returning officer.

4.   Nominations

(1) A nomination of a person as a candidate for an election –

(a) is to be in accordance with a form approved by the Board; and

(b) [Schedule 1 Amended by S.R. 2006, No. 155, Applied:27 Dec 2006] is to be signed by –

(i) in the case of the nomination of a person to be a member of the Board under regulation 9(2)(b)(i) , 2 persons, each of whom is –

(A) a contributor; or

(B) a Member of Parliament to whom the Retirement Benefits (Parliamentary Superannuation) Regulations 2002 apply; or

(C) a member of the continued State Fire Commission superannuation scheme; or

(D) a member of the continued Tasmanian Ambulance Service superannuation scheme; or

(ii) in the case of the nomination of a person to be a member of the Board under regulation 9(2)(b)(ii) , 2 persons, each of whom is –

(A) a member of the accumulation scheme; or

(B) a member whose entitlements under these regulations arise only from an account established under regulation 62 or 68 ; and

(c) is to state the full name of the person nominated; and

(d) subject to subclause (2) , is to contain the written consent of the person nominated; and

(e) is to be forwarded to, or lodged at, the office of the returning officer at or before the hour specified in a notice under clause 3 .

(2) A person who is nominated as a candidate for an election –

(a) in the case of a person who is not absent from Tasmania at the time of his or her nomination, may signify consent to the returning officer by facsimile; or

(b) in the case of a person who is so absent, may signify consent to the returning officer –

(i) by facsimile; or

(ii) by letter sent by post or affixed to the nomination form –

if the facsimile or letter is received by the returning officer before the hour specified in a notice under clause 3 .

(3) Where a person nominates to be a member of the Board under both subparagraphs (i) and (ii) of regulation 9(2)(b) , he or she must notify the returning officer in writing, at the time of so nominating, which position he or she will accept in the event that he or she is successful in both elections.

(4) The returning officer must not disclose to any person a notification under subclause (3) until he or she has complied with clause 11 and it is necessary to do so.

Penalty:  For breach of this subclause, fine not exceeding 5 penalty units.

5.   Persons declared elected without election

If only one person is nominated as a candidate for an election, the returning officer must –

(a) immediately declare that person elected; and

(b) report to the Board and the Minister accordingly.

6.   Where election must take place

(1) If more than one person is nominated as a candidate for an election, the returning officer must –

(a) cause to be printed a sufficient number of ballot papers in accordance with a form approved by the Board; and

(b) not less than 14 days before the appointed day, deliver or send by post to every person who is entitled to vote at the election –

(i) a ballot paper bearing the returning officer's signature or initials written or stamped on the back; and

(ii) an envelope addressed to the returning officer to contain the ballot paper when returned and having endorsed on its flap a certificate by the returning officer that the person to whom it has been delivered or sent is entitled to vote at the election.

(2) At least 14 days before the appointed day, the Board is to provide to the returning officer a list of all persons who are entitled to vote under clause 7(1) stating the last known postal address of each such person.

7.   Persons who are entitled to vote

(1) A person is entitled to one vote at an election if –

(a) [Schedule 1 Amended by S.R. 2006, No. 155, Applied:27 Dec 2006] in the case of the election of a person to be a member of the Board under regulation 9(2)(b)(i) , he or she is –

(i) a contributor; or

(ii) a Member of Parliament to whom the Retirement Benefits (Parliamentary Superannuation) Regulations 2002 apply; or

(iii) a member of the continued State Fire Commission superannuation scheme; or

(iv) a member of the continued Tasmanian Ambulance Service superannuation scheme; or

(b) in the case of the election of a person to be a member of the Board under regulation 9(2)(b)(ii) , he or she is a member of the accumulation scheme or a person whose entitlement under these regulations arises only from an account established under regulation 62 or 68 .

(2) A person who is eligible to vote for a member of the Board under regulation 9(2)(b)(i) and (ii) may vote only for a member of the Board under regulation 9(2)(b)(i) .

(3) A person who holds more than one account in the Fund is eligible for only one vote in an election for a member of the Board.

8.   Persons who vote

A person who votes at an election must –

(a) mark the ballot paper in the manner provided by the Electoral Act 2004 in respect of an election of one member for an electoral division under that Act; and

(b) sign his or her name on the certificate on the envelope sent by the returning officer; and

(c) fold up the ballot paper so that the vote cannot be seen and deliver or send it by prepaid post, enclosed in the envelope sent by the returning officer, so that the ballot paper reaches the returning officer not later than the time for the close of business on the appointed day.

9.   Scrutineers

(1) The returning officer may appoint 2 scrutineers for an election, and a candidate, by writing addressed to the returning officer, may appoint one scrutineer for an election.

(2) A scrutineer appointed under subclause (1) may be present when the counting of votes takes place at the election.

10.   Scrutiny of votes

(1) All ballot papers received by the returning officer not later than the time prescribed by clause 8(c) are to be dealt with at the scrutiny which must take place as soon as practicable after that time.

(2) The returning officer, immediately before the scrutiny and in the presence of any scrutineers present, must –

(a) open every envelope containing a ballot paper; and

(b) without inspecting or unfolding the ballot paper contained in the envelope, deposit the ballot paper in a locked ballot box.

(3) The returning officer, in the presence of any scrutineers present, must –

(a) open the ballot box and take out the ballot papers deposited in it; and

(b) count the votes recorded on the ballot papers in accordance with the Electoral Act 2004 ; and

(c) reject every ballot paper that is informal.

(4) For the purposes of subclause (3) , a ballot paper is informal if –

(a) it does not bear the signature or the initials of the returning officer; or

(b) it bears a mark by which the voter can be identified; or

(c) it does not reach the returning officer in a closed envelope at or before the time prescribed by clause 8(c) .

(5) If there is an equal number of votes for 2 or more candidates, the returning officer, in accordance with the Electoral Act 2004 , must decide which of those candidates is to be elected or discarded.

(6) The returning officer must preserve the ballot papers, envelopes in which the ballot papers were received and other papers connected with the election for a period of not less than 3 months after the election.

11.   Result of election

After counting the votes, the returning officer must –

(a) declare elected the candidate who first receives an absolute majority of the votes cast at the election; and

(b) report to the Board and the Minister accordingly.

SCHEDULE 2 - Appointment and Terms and Conditions of Employment of Officers of Board

Regulation 11(4)

1.   Application of Schedule

Except for clause 7 , this Schedule does not apply to the CEO.

2.   Officers to perform functions determined by Board

An officer of the Board must perform –

(a) any functions specified in the instrument of appointment; and

(b) any functions the Board determines.

3.   Certain terms and conditions of employment of officers to be determined by Board

(1) The terms and conditions of employment, including remuneration, allowances and entitlements of officers of the Board, subject to this Schedule and any Act, and to any award, enterprise agreement or industrial agreement relating to persons engaged in the work for which they are appointed, are to be determined by the Board.

(2) An officer of the Board may be dismissed if the officer –

(a) is unfit to discharge, or incapable of discharging, the functions of his or her office efficiently; or

(b) is not discharging the functions of his or her office efficiently, satisfactorily, with due care or in the best interests of the Board; or

(c) is not qualified, either temperamentally or otherwise, for the efficient and satisfactory performance of the functions of his or her office.

4.   Superannuation and long service leave

An officer of the Board –

(a) is entitled to benefits under these regulations or under the Trust Deed; and

(b) is an employee for the purposes of the Long Service Leave (State Employees) Act 1994 .

5.   Officers of Board subject to awards under Industrial Relations Act 1984

An officer of the Board is entitled to any salary and allowances determined by an award, industrial agreement or enterprise agreement under the Industrial Relations Act 1984 .

6.   Candidature for election as Member of Parliament

For the purposes of regulation 11 , a person becomes a candidate for election as a member of a House of Parliament when the person is nominated for that election in accordance with the law regulating the election.

7.   Reappointment of former officers

(1) If a person who –

(a) was an officer of the Board; and

(b) ceased to be such an officer on becoming a candidate for election as a member of a House of Parliament as provided by clause 6 ; and

(c) was a candidate at that election; and

(d) failed to be elected; and

(e) applies, within 3 months after the declaration of the result of that election, for his or her former office of the Board –

the Board may reappoint that person to that former office without the fulfilment of any conditions otherwise required for making the appointment.

(2) If a person is reappointed, the person, subject to subclause (3) , holds that office in all respects as if he or she had been absent on leave without pay from that office for the period from the day on which he or she ceased to be an officer to the day before the day on which he or she was reappointed.

(3) For the purpose of the application of the Long Service Leave (State Employees) Act 1994 , if a person reappointed had become entitled, by reason of ceasing to be an officer under regulation 11 , to an allowance under that Act, the person, for the purpose of subclause (2) , must be treated in respect of the period in respect of which the amount of the allowance is calculated, or so much of that period as had expired before the reappointment took effect, as if absent, not on leave without pay, but on long service leave under that Act.

(4) If a person's reappointment takes effect before the expiration of the period mentioned in subclause (3) , the whole period, for the purposes of subclause (2) , is taken to have expired on the day before the reappointment took effect.

(5) If the rights of a person reappointed have been changed on ceasing to be an officer under regulation 11 , in respect of pension, pay in lieu of leave or otherwise, all necessary payments, repayments and entries are to be made to place the person in the same position as if he or she had been absent on leave without pay.

SCHEDULE 3 - Calculation of Certain Pensions for Existing Contributors and Amalgamated Contributors

Regulations 56(1) , (2) and (3) , 86(2) , 91(1) , 92(1) and 95(2)

1.   Interpretation

(1) In this Schedule –

average annual salary means the average annual salary that an existing contributor received in respect of the 12 months before he or she ceased to be an existing contributor.

(2) For the purposes of this Schedule, if at any time during the period of 12 months immediately before retirement or death, a contributor has been absent on leave without pay or on less than full pay, the contributor's average annual salary is to be calculated as if he or she had continued to be employed in the same capacity on full pay during the whole of that period.

2.   Determination of prospective service for purposes of pension payable on total and permanent incapacity or partial and permanent incapacity

(1) If the Board determines under regulation 118 that an existing contributor is suffering from total and permanent incapacity, his or her prospective service for the purpose of clause 7 is taken to commence on the day immediately following the date of cessation of employment and end on the day on which he or she attains, or would have attained –

(a) the age of 65 years, in the case of an existing contributor who was contributing to the contributory scheme immediately before 1 April 1987 and who has continued at all times to be such a contributor; or

(b) the age of 60 years, in the case of a police officer who is an existing contributor who was contributing to the contributory scheme immediately before 1 April 1987 and who has continued at all times to be such a contributor; or

(c) the age of 60 years, in the case of a woman who was a contributor within the meaning of the Retirement Benefits Act 1970 or the Superannuation Act 1938 ; or

(d) the age of 55 years, in the case of any other existing contributor.

(2) If the Board determines under regulation 118 that an existing contributor is suffering from partial and permanent incapacity, his or her prospective service for the purposes of clause 7 is taken to commence on the day immediately following the date of cessation of employment and end on the day on which he or she attains, or would have attained –

(a) the age of 60 years, in the case of an employee who is an existing contributor and who was contributing to the contributory scheme immediately before 1 April 1987 and who has continued at all times to be such a contributor; or

(b) the age of 55 years, in any other case.

(3) [Schedule 3 Amended by S.R. 2006, No. 155, Applied:27 Dec 2006] If –

(a) the Board determines under regulation 118 that an existing contributor is suffering from total and permanent incapacity or partial and permanent incapacity; and

(b) the existing contributor was, on the last day of his or her employment, employed otherwise than on a full-time basis –

the prospective service for the existing contributor is to be calculated in accordance with the following formula:

where –

PS is the existing contributor’s prospective service expressed in years;

A is the period expressed in years commencing on the day immediately following the date of cessation of employment of the existing contributor and ending on the day on which he or she attained, or would have attained, the relevant age specified in subclause (1) or (2) , as appropriate;

B is the full-time equivalent of the existing contributor’s length of service expressed in years as at the date of cessation of employment;

C is the existing contributor’s length of service expressed in years as at the date of cessation of employment.

(4) For the purposes of subclause (3) , a reference to being employed otherwise than on a full-time basis is taken to include employment on a part-time basis or participating in an accumulated leave scheme or any similar arrangement.

(5) Notwithstanding subclauses (3) and (4) , if, after such inquiry as it thinks fit, the Board is satisfied that the hours of employment of an existing contributor were reduced by his or her Agency for medical reasons which subsequently led to his or her retirement on the grounds of total and permanent incapacity or partial and permanent incapacity, the Board may, for the purposes of this clause, calculate the existing contributor’s prospective service as if the reduction in hours had not occurred.

3.   Determination of service for existing contributor employed otherwise than full-time

For the purposes of calculating the pension to be paid to an existing contributor who has at any time been employed otherwise than on a full-time basis, his or her length of service is to be adjusted to full-time equivalent service.

4.   Determination of salary for existing contributor employed otherwise than full-time

For the purpose of calculating the pension to be paid to an existing contributor who has at any time been employed otherwise than on a full-time basis, his or her salary is taken to be the average of the annual salary that he or she would have received if he or she had been employed as a full-time employee in that office or position.

5.   Pension payable to existing contributor on retirement due to age

The pension payable to an existing contributor to whom regulation 47 applies is an annual sum calculated in accordance with the following formula:

where –

P is the annual amount of pension;

FAS(1) is the average annual salary paid or payable to the existing contributor in respect of the year preceding retirement;

ABMF is the existing contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the existing contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the existing contributor's length of service expressed in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PP is the percentage of the lump sum benefit payable under regulation 47 that the existing contributor has elected, under regulation 79 , to be converted to a pension;

ERP is the early retirement penalty calculated in accordance with clause 9 .

6.   Pension payable to existing contributor on redundancy or compulsory retirement

The pension payable to an existing contributor to whom regulation 48 or 49 applies and who is aged 55 years or over is an annual sum calculated in accordance with the following formula:

where –

P is the annual amount of pension;

FAS(1) is the average annual salary paid or payable to an existing contributor in respect of the year preceding redundancy or retirement;

ABMF is the existing contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the existing contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the existing contributor's length of service in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PP is the percentage of the lump sum benefit payable under regulation 48 or 49 that the existing contributor has elected, under regulation 79 , to be converted to a pension;

ERP is the early retirement penalty calculated in accordance with clause 9 .

7.   Pension payable to existing contributor who is also full benefits contributor on retirement due to total and permanent incapacity or partial and permanent incapacity

(1) If –

(a) [Schedule 3 Amended by S.R. 2005, No. 147, Applied:27 Jul 2005] the Board has determined under regulation 118 that an existing contributor who is also a full benefits contributor is suffering from partial and permanent incapacity or total and permanent incapacity; and

(b) he or she retires on the grounds of ill-health within 6 months after the Board's determination –

the annual pension payable is to be calculated in accordance with the following formula:

where –

P is the annual amount of pension;

FAS(1) is the average annual salary paid or payable to the existing contributor in respect of the year preceding retirement;

ABMF is the existing contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the existing contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the existing contributor's length of service expressed in years at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PBMF is the existing contributor's prospective benefit multiple factor, calculated by taking the basic contribution rate applicable to the existing contributor and multiplying the benefit multiple factor prescribed for that rate of contribution under regulation 44 by the existing contributor's length of service in years commencing on and from the date of his or her retirement and concluding –

(a) if he or she has retired due to total and permanent incapacity, on the date when he or she attains the relevant age provided in clause 2(1) ; or

(b) if he or she has retired due to partial and permanent incapacity, on the date when he or she attains the relevant age provided in clause 2(2) .

(2) Where the Board, under regulation 118 , has determined that a pension is payable to an amalgamated contributor, his or her pension on retirement is to be an annual sum calculated in accordance with the following formula:

where –

P is the annual amount of pension payable;

SB is the pension value of the amalgamated contributor's superannuation units as at 30 June 1982;

DS is the differential salary of the amalgamated contributor, which is to be the FAS(1) of the amalgamated contributor less the annual salary payable in respect of him or her as at 30 June 1982;

FAS(1), in the definition of "DS", is the salary paid or payable to the amalgamated contributor in respect of the 12 months immediately preceding the cessation of his or her service or, in the case of a contributor whose length of service at the time of his or her cessation of employment is less than 12 months, the average annual salary paid or payable in respect of the actual period of service.

8.   Pension payable to existing contributor who retires after attaining 65 years

The pension payable to an existing contributor to whom regulation 53 applies is an annual sum calculated in accordance with the following formula:

where –

P is the annual amount of pension;

[Schedule 3 Amended by S.R. 2005, No. 147, Applied:27 Jul 2005] FAS(1) is the average annual salary paid or payable to the existing contributor in respect of the year preceding retirement;

ABMF is the existing contributor's adjusted benefit multiple factor, calculated by taking the rate or rates of contribution made by the existing contributor and multiplying the benefit multiple factor prescribed for that rate or those rates of contribution under regulation 44 by the existing contributor's length of service expressed in years to the date when he or she ceased paying contributions under regulation 34(3)(e) or regulation 34(5) at that rate or for each of those rates of contribution and accumulating each result obtained from those multiplications;

PP is the percentage of the lump sum benefit payable under regulation 53 that the existing contributor has elected, under regulation 79 , to be converted to a pension;

[Schedule 3 Amended by S.R. 2005, No. 147, Applied:27 Jul 2005]

[Schedule 3 Amended by S.R. 2005, No. 147, Applied:27 Jul 2005] PBMF is the existing contributor's post cessation of contributions benefit multiple factor, calculated by taking the basic contribution rate applicable to the existing contributor and multiplying the benefit multiple factor prescribed for that rate of contribution under regulation 44 by the existing contributor's length of service in years (commencing on and from the date on which he or she ceased paying contributions under regulation 34(3)(e) or regulation 34(5) and ending on the date of the existing contributor's actual retirement or at the age of 70 years, whichever is the earlier).

9.   Early retirement penalty

(1) On the retirement of an existing contributor to whom regulation 47 , 48 or 49 applies, other than –

(a) a police officer; or

(b) a woman who was appointed as a full-time employee before 1 July 1982 and has been continuously employed in an Agency since that time –

the amount of pension to which he or she is entitled is, subject to subclause (2) , to be reduced by 1% for each 3 months or part of 3 months by which he or she retires before attaining the age of 60 years.

(2) A reduction is not to be made under subclause (1) to the amount of pension payable to an existing contributor if, at the time when he or she becomes entitled to the pension, the pension before an election under regulation 79 is made is greater than or equal to two-thirds of his or her average annual salary in the year immediately preceding retirement.

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 .

SCHEDULE 5 - Savings and Transitional Provisions

Regulation 138

PART 1 - Preliminary

1.   Interpretation

In this Schedule –

child means a person who –

(a) has not attained the age of 18 years; or

(b) not having attained the age of 25 years, is receiving full-time education at a college, school or university;

former Printing Office employee means a person who –

(a) on the day on which the Printing Authority of Tasmania Act 1994 commenced, was a contributor under the Retirement Benefits Act 1982 ; and

(b) was, under clause 3 of Schedule 5 to the Printing Authority of Tasmania Act 1994 as in force on that day, taken to have resigned as an employee but has not ceased to be employed by the Printing Authority of Tasmania;

former SAF employee means a person who, at any time during the period commenced on 1 July 1993 and ended on 30 June 1994, became eligible for a benefit under the SAF Agreement;

former TGIO employee means a person who has ceased to be an employee as mentioned in section 19 of the Tasmanian Government Insurance Office (Sale) Act 1993 ;

former TT-Line employee means a person who –

(a) on the day on which a company was formed and incorporated under section 5 of the TT-Line Arrangements Act 1993 , was a contributor under the Retirement Benefits Act 1982 ; and

(b) was, by reason of clause 4 of Schedule 3 to the TT-Line Arrangements Act 1993 , taken to have resigned as an employee but has not ceased to be employed by that company;

Fund includes the Superannuation Fund and the Retirement Benefits Fund as established or continued under the former superannuation legislation;

prescribed period means the period commenced on 1 January 1975 and ended on 30 June 1982;

transferred contributor means an existing contributor who, under the Retirement Benefits Act 1970 or the Retirement Benefits Act 1982 , elected to transfer from the Fund to the contributory scheme on the transfer basis.

2.   Application of this Schedule

This Schedule has effect notwithstanding the rescissions effected by regulation 139 and does not limit the application of section 16 of the Acts Interpretation Act 1931 .

PART 2 - Transfer to Contributory Scheme

1.   Service of certain former employees

On the death or retirement of a person who, immediately before 1 July 1994, was –

(a) a former TGIO employee; or

(b) a former Printing Office employee; or

(c) a former TT-Line employee; or

(d) a person who has ceased to be an employee, by reason of being retired compulsorily or being made redundant voluntarily under an employment redundancy program or as a result of a transfer arrangement, and who has elected to leave his or her contributions in the Fund –

his or her service is taken to be the continuous period for which he or she contributed to the Fund, commencing on the day on which he or she became an employee within the meaning of the Retirement Benefits Act 1982 and ceasing on the day when he or she died or retired.

PART 3 - Calculation of Service

1.   Calculation of service

If a person –

(a) has received a refund of contributions from the Fund under the former superannuation legislation; and

(b) has subsequently recommenced contributing to the contributory scheme, or to the Fund –

his or her employment before the day on which he or she so recommenced contributing does not comprise part of his or her service unless that person has elected, under regulation 31 , to purchase recognition of that service in full or in part.

2.   Reduction of service in certain cases

(1) If an existing contributor who is a transferred contributor had contributed to the Fund for less than his or her maximum unit entitlement, this clause has effect with respect to his or her length of service as a contributor.

(2) For the purposes of subclause (1) , the contributor's length of service is to be determined in accordance with the following formula:

where –

A is the transferred contributor's length of service expressed in years;

B is the period of the transferred contributor's actual length of service expressed in years as at –

(a) in the case of a transferred contributor within the meaning of the Retirement Benefits Act 1982 , 1 January 1975; or

(b) in the case of a transferred contributor within the meaning of the Retirement Benefits Act 1970 , 1 July 1971;

C is the product obtained by multiplying the number of the units or additional units for which the transferred contributor made contributions at any one time by a number equal to the period expressed in years during which he or she contributed for each such number of units or additional units;

D is the product obtained by multiplying the number of the units or additional units for which the transferred contributor could have contributed at any one time by a number equal to the period expressed in years during which he or she could have contributed for each such number of units or additional units.

(3) For the purposes of the formula in subclause (2) , the maximum value of the following fraction is to be 1:

3.   Election to contribute to Fund on transfer basis under Retirement Benefits Act 1982

(1) If a transferred contributor has not paid the contributions required by section 61(3) of the Retirement Benefits Act 1982 , this clause has effect with respect to his or her length of service as a contributor.

(2) The length of service of a transferred contributor to whom subclause (1) refers, for the prescribed period, is to be determined in accordance with the following formula:

where –

P is the transferred contributor's length of service expressed in years;

S is the prescribed period;

T is the contributions actually paid to the Fund by the transferred contributor during the prescribed period;

U is the contributions that would have been paid to the Fund by the transferred contributor during the prescribed period if he or she had elected to become a transferred contributor under the Retirement Benefits Act 1970 .

(3) For the purposes of the formula in subclause (2) , the maximum value of the following fraction is to be 1:

4.   Interest on benefit adjustment

A lump sum or pension benefit that is authorised or required by this Schedule to be made out of the contributory scheme to, or in respect of, a former SAF employee is to be paid without the addition of any interest to that payment.

PART 4 - Transitional and Savings Provisions arising from Former Regulations

1.   Savings for appointments, decisions, determinations, delegations, pensions, &c.

(1) Unless provision is made to the contrary in these regulations, the rescissions effected by regulation 139 do not disturb the effect of –

(a) any appointment made by the Governor or the Minister; or

(b) any decision, determination, resolution, delegation, certificate, suspension or authorisation made or granted by the Board –

under the former regulations, or of any condition attached to any such appointment, decision, determination, resolution, delegation, certificate, suspension or authorisation.

(2) Except as provided in these regulations, a pension of any kind that was payable under the former regulations immediately before the commencement day is, on and after that day, payable as a pension of that kind under these regulations.

(3) The Board must continue to pay every fortnight in accordance with these regulations an instalment of a pension to which subclause (2) refers that is due on or after the commencement day.

2.   Members of Board immediately before commencement day

A person holding office as a member of the Board under the former regulations immediately before the commencement day, including the President and Deputy President of the Board, continues, unless he or she is removed from office or vacates that office under these regulations, to hold that office for the remainder of the period specified in his or her instrument of appointment.

3.   Questions and appeals under former regulations

(1) Any question notified in writing to the Board under the former regulations that had commenced and not been finally determined by the Board before the commencement day may, on and after that day, be finally determined by the Board as if these regulations had not been made.

(2) An appeal under the former regulations that had commenced and not been finally disposed of before the commencement day may, on and after that day, be finally disposed of as if these regulations had not been made.

4.   Effect of rescissions on rights of action

The rescissions effected by these regulations do not revive any right of action that was not existing immediately before the commencement day.

5.   Continuation of contribution rates

(1) Subject to this clause, a person who was a contributor immediately before the commencement day must, except as provided in these regulations, continue to contribute to the Fund at the same rate as was applicable to him or her immediately before that day.

(2) In respect of a person to whom subclause (1) applies, contributions are to be deducted from each periodical pay in accordance with these regulations and paid to the Fund.

(3) Where a person was, immediately before the commencement day, making voluntary contributions in accordance with the former regulations, that person is, on and after that day, taken to have made an election to continue to make those voluntary contributions.

(4) Where, immediately before the commencement day, an arrangement with an Agency for the payment of additional employer contributions was in force, that arrangement continues in force subject to these regulations.

6.   Saving for elections

(1) Unless provision is made to the contrary in these regulations, the rescissions effected by regulation 139 do not disturb the effect of any election made under the former regulations or of any condition attached to any such election.

(2) A person who was eligible to make an election under the former regulations within a period which had not expired before the commencement day continues to be so eligible.

7.   Orders relating to adjustment of pensions

An order made by the Board in respect of the half-year that last commenced before the commencement day remains in force in respect of that half-year in respect of pensions under these regulations.

8.   Persons not obliged to contribute to the Fund

A person who, immediately before the commencement day, was not obliged to contribute to the Fund under the former regulations continues, on and after that day, not to be obliged to contribute to the Fund under these regulations.

9.   Saving for death and disability premium rates

The premium rates for death and disability benefits established by the Board under regulation 32 of the Retirement Benefits Regulations 1994 and in force immediately before the commencement day continue to have effect as if made under these regulations until they are replaced by premium rates established under regulation 43(2) of these regulations.

10.   Saving for pension conversion factors

The pension conversion factors determined by the Board under regulation 78(1)(a) of the Retirement Benefits Regulations 1994 and in force immediately before the commencement day continue to have effect as if made under these regulations until they are replaced by a determination by the Board under regulation 80(1) of these regulations.

11.   Saving for notional contributions surcharge amounts and notional surchargeable contributions factor

For the purposes of these regulations –

(a) the notional contributions surcharge amounts calculated by the Board under regulation 88A of the Retirement Benefits Regulations 1994 and in force immediately before the commencement day; and

(b) the notional surchargeable contributions factor provided by the Actuary under that regulation relevant to each of the amounts referred to in paragraph (a)  –

continue to have effect as if calculated or provided under regulation 88 of these regulations until they are replaced by notional contributions surcharge amounts or a notional surchargeable contributions factor so calculated or provided.

12.   Saving for determinations for proportion of contributions

Any determination made by the Minister under regulation 90(1)(a) of the Retirement Benefits Regulations 1994 and in force immediately before the commencement day continues to have effect as if it were a determination made by the Minister under regulation 106(2) of these regulations until it is replaced by a determination so made.

PART 5 - Miscellaneous

1.   Child's pension

(1) If –

(a) a child's pension continues to be payable under this Schedule; or

(b) a child's pension becomes payable under regulation 124  –

the rate of that child's pension is to be adjusted as provided in this clause.

(2) If the rate of a child's pension –

(a) was required to be determined under the former regulations at a rate of 5% of any pension; or

(b) is so determined under regulation 124 of these regulations –

and that rate as so determined would be less than $3 000 a year, that rate is to be increased to $3 000 a year on the commencement day.

(3) If the rate of a child's pension –

(a) was required to be determined under the former regulations at a rate of 20% of any pension; or

(b) is so determined under regulation 124 of these regulations –

and that rate as so determined would be less than $6 000 a year, that rate is to be increased to $6 000 a year on the commencement day.

SCHEDULE 6 - Statutory Rules rescinded

Regulation 139

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 1 July 2005

These regulations are administered in the Department of Treasury and Finance.