First State Superannuation Act 1992 - Regulation relating to additional contributions payable for transferees from the State Authorities Non-contributory Superannuation Scheme (1994-74) [GG No 42 of 4.3.1994] (NSW)

1994—No. 74

FIRST STATE SUPERANNUATION ACT 1992—REGULATION

(Relating to additional contributions payable for transferees from the State

Authorities Non-contributory Superannuation Scheme)

NEW SOUTH WALES

[Published in Gazette No. 42 of 4 March 1994]

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the First State Superannuation Act 1992, has been pleased to make the Regulation set forth hereunder.

KERRY CHIKAROVSKI, M.P.,

Minister for Industrial Relations and Employment.

Commencement

1. This Regulation is taken to have commenced on l July 1992.

Amendment

2. The First State Superannuation Transitional Regulation 1994 is

Y

amendedbyomitting from clause 4 (2) the matter “A= S x ”

365.25

and by inserting instead the following matter:

Y

A = S x 0.03 x

365.25

1994—No. 74

EXPLANATORY NOTE

The object of this Regulation is to correct a printing error in the formula used for the purpose of ensuring that certain former members of the State Authorities Non-contributory Superannuation Scheme who were transferred to the First State Superannuation Scheme in 1992 receive their full accrued entitlements from the State Authorities Non-contributory Superannuation Scheme forthe period 1 July-

31 December 1992.

Clause 2 of Schedule 3 to the First State Superannuation Act 1992 authorises the Regulation to have retrospective effect.