City of Perth Scheme for Superannuation (Amendments Authorisation) Act 1946 (WA)

CITY OF PERTH SCHEME FOR

SUPERANNUATION (AMENDMENTS

AUTHORISATION).

10° and 11° GEO. VI., No. XXX.

No. 30 of 1946.

AN ACT to authorise certain amendments of a Scheme for Superannuation established by the City of Perth under the City of Perth Superannuation Fund Act, 1934.

[Assented to 24th January, 1947.]

BE it therefore enacted by the King's Most Excellent" Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly, in this present Parliament assembled, and by the authority of the same, as follows:

Short title. 1. This Act may be cited as the City of Perth Scheme for Superannuation (Amendments Authorisation) Act,

1946.] City of Perth Scheme for Superannua- [No. 30.

tion (Amendments Authorisation).

2.    In this Act "The Scheme for Superannuation" 'nit'.

means the scheme for superannuation established by the City of Perth under the City of Perth Superannuation Fund Act, 1934, as amended on the 23rd day of February, 1942, pursuant to the powers conferred on the City of Perth by the City of Perth Scheme for Superannuation (Amendments Authorisation) Act, 1941, and as set forth in the Second Schedule of the last mentioned Act.

3.    The Scheme for superannuation may be amended =-

(ion to be

in the following manner :— amended.

1. Delete subparagraph (d) of paragraph 2 (1) and insert the following subparagraph in lieu thereof :—

(d) A contribution by the Electricity and Gas Department of the council of an annual sum not exceeding one thousand six hundred pounds and a contribution by the other departments of the council of an annual sum not exceeding one thousand four hundred pounds for a period of twenty-two years from the first day of July, 1946, and such respective annual sums, to be assessed by an actuary as soon as possible after the first day of July, 1946, and from time to time there- after, as may be necessary in the opinion of the actuary.

2. Add the following subparagraphs after sub-

paragraph (c) of paragraph 5 :—

(cc) Every officer who being a contributor to the superannuation fund left the service of the Council in order that he might serve in the Armed Forces of the Common- wealth of Australia during the war and has resumed service with the Council shall have the right to contribute to the superannuation fund a sum equal to the amount which he would have contributed to the said fund in accordance with the by-laws had he remained in the service of the Council and contributed to the said

No. 30.] City of Perth Scheme for Superannua- [1946.

tion (Amendments Authorisation).

fund without interruption and such con- tribution may be made in equal annual instalments extended over a period of ten years.

The amount of the contribution shall be calculated on the amount of the offi- cer's salary at the time he left the service of the Council.

Every officer who desires to avail him- self of the provisions of this clause shall notify the Council of such his desire with- in one month from the date this amend- ment comes into operation.

(ccc) In every case in which an officer of the coun- cil avails himself of the provisions of the preceding clause the Council shall forth- with contribute to the said fund :—

(1) A sum equal to the amount of the

officer's contribution.

(ii)    A sum equal to the contribution which both the officer and the Council would have made based on any increase of salary to which the officer would have been entitled if his service with the Council had not been inter- rupted.

(iii)    A sum equal to the amount of interest which would have been earned on the respective amounts of the Council's contribution and the officer's contribution had same been regularly made during the period of the officer's war service such interest to be calcu- lated at M IA% per annum.

(iv)    A sum equal to the amount of interest calculated at £31/2 % per annum which would have been earned if the officer's contribu- tion under paragraph (cc) had been paid in cash instead of being spread over a period of ten years.

1946.] City of Perth Scheme for Superannua- [No. 30.

tion (Amendments Authorisation).

3. Delete the words "one-one hundred and twentieth" in line 4 of subparagraph (a) of para- graph 8 (1) and insert the following words in lieu thereof, "one sixtieth."

4. Add the following subparagraph after sub-

paragraph (c) of paragraph 8 (1) :—

(d) If an officer who is contributing to the superannuation fund under clause 5 (cc) and who or whose widow shall become entitled to a superannuation allowance under clause 7 before such officer has completed the payments under clause 5 (cc) then and in such case each year in which a full annual payment is made by such officer under that clause shall be treated as a year of contributing service.

Any partial annual payment shall be refunded to the officer or his personal representatives as the case may be with- out interest.

4. The Scheme for superannuation as amended in the Wahr taecheme

manner authorised by this Act shall only be brought into obproerugotninto

operation if and when the provisions of sections five to eight inclusive of the City of Perth Superannuation Fund Act, 1934, shall have been complied with as if such amended scheme were a proposition for a scheme within the meaning of section five of the said Act.