Local Government and Other Authorities (Superannuation) Amendment Act 1959 (NSW)
LOCAL GOVERNMENT AND OTHER AUTHORITIES
(SUPERANNUATION) AMENDMENT ACT.
Act No. 2, 1959.
An Act to make further provision with respect to the benefits and contributions payable under the Local Government and Other Authorities (Superannuation) Act, 1927-1954; for these and other purposes to amend the said Act; and for purposes connected therewith. [Assented to, 24th September, 1959.]
BE it enacted by the Queen's Most Excellent Majesty, by
and with the advice and consent of the Legislative
Council and Legislative Assembly of New South Wales in
Parliament assembled, and by the authority of the same, asfollows: — (1) This Act may be cited as the "Local Government
and Other Authorities (Superannuation) Amendment Act,
1959".
1.
(2) The Local Government (Superannuation) Act, 1927, as amended by subsequent Acts and by this Act, may be cited as the Local Government and Other Authorities (Superannuation) Act, 1927-1959.
(b)
2. (1) The Local Government and Other Authorities (Superannuation) Act, 1927-1954, is amended—
(a)
by inserting in subsection four of section one next after the matter relating to Part III the words and
symbols " P A R T III A.—VOLUNTARY SAVINGS—ss.
15B-15G";
| (b) | by inserting next after subsection one of section four the following new subsection : — |
(1A) In its application to permanent servants effecting endowment insurance policies as required by subsection one of this section after the com mencement of the Local Government and Other Authorities (Superannuation) Amendment Act, 1959, the said subsection one shall be read and con strued as if the words "the Schedule" were omitted therefrom and the word and letter "Schedule A " were substituted therefor.
| (c) |
|
Provided that a permanent servant of a council who has attained the age of fifty years shall not be entitled to effect more optional units of insurance—
(a)
unless he has completed five years service; or
(b) except for the purpose of increasing
his total of compulsory and optional cover to an amount not exceeding
one thousand pounds."
and by inserting in lieu thereof the following
paragraph: —A permanent servant of a council who has not attained the age of fifty-five years and—
(a)
who before the commencement of the Local Government and Other A u t h o r i t i e s (Superannuation) Amendment Act, 1959, has effected a
policy
policy of insurance under section four of this Act, may, if such policy is still subsisting, within six months after such commencement or thereafter at such times as may be prescribed; or
(b) who after the commencement of the Local Government and Other A u t h o r i t i e s (Superannuation) Amendment Act, 1959, effects a policy of insurance under section four of this Act may, upon effecting such policy or thereafter at such times as may be prescribed,
effect one or more optional cover units of insurance of one hundred pounds each, but so that the total of the compulsory and optional cover (including in a case to which paragraph (a) of this section applies any optional cover effected before such commencement) so effected shall not exceed six thousand pounds.
(ii) by inserting at the end of the same section the following new paragraph: —
The council's quota payable as hereinafter defined, in respect of such policy or policies, shall not in any such case be calculated on the premium or premiums actually payable on such policy or policies, but shall be calculated on the rate of premium which would have been
payable if a new policy were effected for the optional units of cover applied for at the then
age of such permanent servant.(d)
by omitting paragraph (d) of subsection one of section six and by inserting in lieu thereof the following paragraph: —
(d)
the board may in any particular case charge interest at a rate to be prescribed calculated on a daily basis on any premium not paid on the date or dates fixed by the board.
Such
Such interest shall be recoverable by the board in the same way in which premiums are recoverable.
Such interest shall not be chargeable by
the council against any permanent servant.
| (e) | by inserting in subsection one of section 7B after the word "years" the words "but is under the age of fifty-five years"; |
| (f) | by inserting next after section 7B the following new section : — |
7c. (1) A permanent servant who at the com mencement of the Local Government and Other Authorities (Superannuation) Amendment Act, 1959, has attained the age of fifty-five years and is insured under the provisions of section four of this Act or sections four and five of this Act or is a permanent servant in respect of whom contributions are made to the fund or is so insured and is a permanent servant in respect of whom contributions are made as aforesaid may, within six months after such commencement or thereafter at such times as may be prescribed, request, in the prescribed manner, that contributions or additional contribu tions be made annually to the fund on his behalf
of an amount which does not exceed— (a) the difference between—
(i) any premium payable in respect of any such insurance and annual contribution made to the fund in respect of him, and
(ii) forty pounds per centum of his salary for the time being; or
(b) four hundred and thirty pounds,
whichever is the lesser.
(2)
(2) A permanent servant who by virtue of the operation of paragraph (c) of subsection one of section seven of this Act is exempted from the obligation to effect insurance under section four of this Act may request, in the prescribed manner, that contributions be made to the fund on his behalf in respect of any number of units of or additional cover units of insurance of one hundred pounds each for which he would have been eligible if he had not been so exempted.
Any request under this subsection shall—
(a)
in the case of a permanent servant who is at the commencement of the Local Government and Other Authorities (Superannuation) Amendment Act, 1959, exempted from the obligation to effect insurance under section four of this Act, be made within six months after such commencement or thereafter at such times as may be prescribed;
(b)
in the case of a permanent servant who after such commencement becomes so exempted, be made within six months after the date upon which the provisions of this Act are applied to him or the date of his appointment, as the case may be, or thereafter at such times as may be prescribed.
(3) Any permanent servant—
(a)
to whom the provisions of this Act are applied, or who is appointed as such, after the commencement of the Local Govern ment and Other Authorities (Superannua tion) Amendment Act, 1959, and who is exempted from the obligation to effect insurance under section four of this Act by virtue of the operation of paragraph (a) of subsection one of section seven of this Act ; or
(b)
(b)
who is exempted from the obligation to effect insurance under section four of this Act by virtue of the operation of paragraph (b) of subsection one of section seven of this Act; or
(c)
who being a female to whom the provi sions of this Part apply by virtue of the operation of section 17F of this Act,
may request, in the prescribed manner, that addi tional annual contributions be made to the fund on his or her behalf of an amount which does not exceed—
(i) the difference between the annual contri bution to the fund payable otherwise than pursuant to this subsection in respect of such permanent servant and fifteen pounds per centum of such permanent servant's salary for the time being, or
(ii) four hundred and thirty pounds,
whichever is the lesser.
Paragraph (b) of this subsection shall not apply to and in respect of a permanent servant who may request that additional contributions be made annually to the fund on his behalf pursuant to sub section one of this section.
Any request by a permanent servant pursuant to paragraph (a) of this subsection shall be made within six months after the date upon which the provisions of this Act are applied to him or the date of his appointment, as the case may be, or thereafter at such times as may be prescribed. Any request by a permanent servant pursuant to paragraph (b) or (c) of this subsection shall: —
(i) if such permanent servant is exempted as referred to in the said paragraph (b) , or is a permanent servant to whom the pro visions of this Part apply as referred to in
the
the said paragraph (c) , at the commence ment of the Local Government and Other Authorities (Superannuation) Amendment Act, 1959, be made within six months after such commencement or thereafter at such times as may be prescribed, or
(ii) if such permanent servant becomes so exempted or a permanent servant to whom the provisions of this Part so apply after such commencement, be made within six months after the date upon which the provisions of this Act are applied to him or her or the date of his or her appoint ment, as the case may be, or thereafter at such times as may be prescribed.
(g) (i) by inserting in subsection one of section thirteen after the word, letter and symbol "section 7B" the word, letter and symbol "or
7 C " ;
(ii) by inserting next after the same subsection the following new subsection : —
(1A) The board may in any particular case charge interest at a rate to be prescribed cal culated on a daily basis on any contribution payable by a council which is not paid on the date or dates fixed by the board.
Such interest shall be recoverable by the
board in the same way in which contributions
are recoverable.Such interest shall not be chargeable by the council against any permanent servant. (iii) by inserting at the end of subsection (3B) of the same section the following new para graph : — The annual contributions to be made under this section in respect of a permanent servant who has made a request under and in accord ance with section 7c of this Act shall be an
amount
amount equivalent to the total of the amount specified in his request and the amount (if any) payable in respect of him under subsection three of this section.
(iv) by omitting from subsection four of the same section the words "ascertain the average rate of interest earned on the various investments of the fund, and each participating permanent servant's account shall be credited with such interest calculated at such ascertained rate per centum" and by inserting in lieu thereof the words "credit the account of each participat ing permanent servant with interest at a rate determined by the board";
(h) (i) by inserting at the end of subsection three of
section 1 3A the following new paragraph : —
(d) allocate out of such account such amount as it may deem desirable and transfer such amount to the Contin gent Account. (ii) by omitting subsection five of the same section
(i) by omitting from section 15A the words "one hun dred pounds" and by inserting in lieu thereof the words "five hundred pounds";
| (j) | by inserting next after section 15A the following new | |
|
P A R T I I I A . VOLUNTARY SAVINGS.
15B. (1) A permanent servant may authorise the council by which he is employed to pay to the board on his behalf any sum of money payable to him by the council.
(2) A permanent servant may pay directly to the board any sum of money.
15c.
15c. Any moneys paid to the board by or on the authorisation of a permanent servant under this Part shall be paid into the fund and shall, subject to the provisions of this Part, be deemed to be moneys payable into the fund under Part III of this Act and shall be dealt with by the board accordingly.
15D. Any moneys paid to the fund by, or by authorisation of, a permanent servant under this Part shall be credited to the permanent servant and shall accumulate at such rate of interest, com pounded annually, as may from time to time be determined by the board.
15E. A permanent servant may, at any time after the expiration of three months' notice, withdraw from the fund the whole amount standing to his credit therein under this Part (both principal and interest) or any portion thereof.
15F. The board may—
(a)
refuse to accept from any council any payment made by it on behalf of any per manent servant pursuant to subsection one of section 15B of this Act;
(b) refuse to accept from a permanent servant
any direct payment pursuant to subsection two of the same section. In any such case there shall be paid to the per manent servant concerned the whole amount standing to his credit in the fund under this Part (both principal and interest).
15G. Where a permanent servant of a council to whose credit there is standing any amount in the fund under this Part of this Act ceases to be employed by a council or dies such permanent servant or his personal representative (as the case
may
may be) shall be entitled to receive from and out of the fund the amount standing to the credit of such permanent servant as aforesaid.
| (k) | by omitting from paragraph (b) of subsection six of section sixteen the words "three consecutive meetings" and by inserting in lieu thereof the words "all meetings of the board held within a period of two months and"; |
(1 ) by omitting from subsection two of section 17P the words "The amounts which may be so set aside in any one year shall not exceed the difference between the amount of the income of the Local Government (Superannuation) Management Account for that year and the amount of the costs of management of the board, including the remuneration of the president and members for such year".
| (m) | by inserting next after the Schedule the following new Schedule : — |
S C H E D U L E A . SCALE OF COMPULSORY COVER.
Amount of compulsory cover if salary—
Age next
Age next birthday,
birthday,
permanent servant Over Over Over Over at time of taking permanent servant
at time of taking Up to £300 £350 £400 £460 out policy.
out policy. £300 up to up to up to up to £350 £400 £450 £500
£ £ £ £ £
25 or under 800 900 1,000 1,000 1,000 26 to 30 700 800 900 1,000 1,000 31 to 35 600 700 800 900 1,000 36 to 40 500 600 700 800 900 41 to 45 400 500 600 700 800 46 to 50 300 400 500 600 700 51 to 55 200 300 400 500 600 Age Amount of compulsory cover
if salary—
Ago next birthday,
Ago next birthday, Over Over Over permanent servant at time
permanent servant at time £500 £550 £600 Over of taking out policy.
of taking out policy. up to up to up to £650 £550 £600 £650
£ £ £ £
25 or under ... 1,000 1,000 1,000 1,000 26 to 30 1,000 1,000 1,000 1,000 31 to 35 1,000 1,000 1,000 1,000 36 to 40 1,000 1,000 1,000 1,000 41 to 45 900 1,000 1,000 1,000 46 to 50 800 900 1,000 1,000 51 to 55 700 800 900 1,000 NOTE:—In the application of the above scale any bonus accrued or
to accrue upon a policy shall bo disregarded.
(2) The amendment made by subparagraph (ii) of paragraph (c) of subsection one of this section shall be deemed to have commenced on the fifth day of April, one thousand nine hundred and thirty-five.
(3) Notwithstanding anything contained in the Local Government and Other Authorities (Superannuation) Act, 1927-1959, a permanent servant of a council who, at the commencement of this Act, has not—
(a)
attained the age of fifty-five years but attains that age within three months after such commencement, and
(b)
elected to insure under the Local Government and Other Authorities (Superannuation) Act, 1927-1959, or to make contributions to the Provident Fund under the said Act or to so insure and make such contributions to the maximum amount of six thousand pounds prescribed by the said Act,
may, within six months after such commencement, request in the prescribed manner that contributions or additional
contributions be made to the said Provident Fund on hisbehalf in respect of any number of additional cover units of insurance of one hundred pounds each for which he would have been eligible had he made such request under section 7B of the Local Government and Other Authorities (Superannua tion) Act, 1927-1959, before attaining the age of fifty-five years.
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