Retirement Benefits (Parliamentary Superannuation) Regulations 2012 (TAS)

Retirement Benefits (Parliamentary Superannuation) Regulations 2012

I, the Governor 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 .3 December 2012

PETER G. UNDERWOOD

Governor

By His Excellency’s Command,

S. BACON

Minister for Finance

PART 1Preliminary1Short titleThese regulations may be cited as the Retirement Benefits (Parliamentary Superannuation) Regulations 2012 . 2CommencementThese regulations take effect on 25 December 2012. 3InterpretationIn these regulations, unless the contrary intention appears – accumulation scheme has the same meaning as in the Public Sector Superannuation Reform Act 1999 ; additional salary, in respect of a member, has the same meaning as in the Parliamentary Salaries, Superannuation and Allowances Act 2012 ; 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; basic salary has the same meaning as in the Parliamentary Salaries, Superannuation and Allowances Act 2012 ; benefit means a benefit payable under Part 3 or Part 4 ; child, in respect of a member or former member, means a person who – (a) is less than 18 years of age; and (b) is the child of the member or former member and his or her surviving partner –and includes – (c) a person less than that age who has been legally adopted by the member or by the surviving partner of the member; and (d) a person of 18 or more years of age but less than 25 years of age who is receiving full-time education at a school, college, university or other educational or training institution; Committee means the Parliamentary Superannuation Committee established under regulation 5 ; complying superannuation plan has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; concessional contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; contributions means contributions and repayments to the Fund; death or invalidity benefit means a benefit payable under Subdivision 3 of Division 4 of Part 4 ; element taxed in the fund has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; element untaxed in the fund has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; former member means – (a) in the definition of "child" in this regulation and in Part 3 , a person who has been a member of Parliament and who, immediately before 27 November 2002, was entitled to a pension or other benefit under the 1973 Act; or (b) in Part 4 , a person who immediately before 27 November 2002 was entitled to a benefit under the 1985 Act; or (c) in Part 6 , a person to whom Part 3 or 4 applied who has ceased to be a member of either House; House means a House of the Parliament of this State; 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; member means a member of Parliament to whom Part 3 or 4 applies; non-concessional contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; non-concessional contributions cap has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; notional contributions surcharge amount means an amount calculated by the Board under regulation 33 or 69 ; notional surchargeable contributions factor means a factor applying to a member as determined by the Actuary for the purposes of Division 5 of Part 3 or Division 5 of Part 4 ; notional taxed contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; parliamentary salary means the basic salary that is payable to a member of Parliament and includes the additional salary, if any, that is payable to him or her; pension means a pension under Part 3 ; pensioner means a person who is receiving a pension under Part 3 ; PRB Fund means the Parliamentary Retiring Benefits Fund as continued under regulation 50 ; PRBF member means a member or former member of Parliament to whom Part 4 applies; preservation age means the preservation age defined in the SIS regulations as the preservation age; PS Fund means the Parliamentary Superannuation Fund as continued under regulation 10 ; PSF member means a member or former member of Parliament to whom Part 3 applies; PSRB Trust means the Parliamentary Superannuation and Retirement Benefits Trust as established under the 1973 Act immediately before 27 November 2002; regulated superannuation fund means a regulated superannuation fund within the meaning of the SIS Act; retiring benefit means a benefit payable under Subdivision 2 of Division 4 of Part 4 ; RSA means a retirement savings account within the meaning of the Retirement Savings Accounts Act 1997 of the Commonwealth; spouse includes the person with whom a PRBF member or PSF member is in a significant relationship, within the meaning of the Relationships Act 2003 ; subfund means a part of the Fund that is maintained by the Board as a subfund for the purposes of these regulations; superannuation benefit has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; surcharge liability means liability for a tax or interest under the law of the Commonwealth arising from an entitlement to a benefit under these regulations; surchargeable contributions debt account means an account established under regulation 39 or 74 ; surviving partner means a person who is determined by the Board – (a) under regulation 96 to be the surviving partner of a PRBF member; or (b) under regulation 97 to be the surviving partner of a PSF member; 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; tax free component has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth; termination benefit means a benefit payable under Subdivision 4 of Division 4 of Part 4 ; the SG Act means the Superannuation Guarantee (Administration) Act 1992 of the Commonwealth; the SIS Act means the Superannuation Industry (Supervision) Act 1993 of the Commonwealth; the SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth; the 1973 Act means the Parliamentary Superannuation Act 1973 ; the 1985 Act means the Parliamentary Retiring Benefits Act 1985 . 4Savings for pension entitlements under 1973 ActA person who immediately before the repeal of the 1973 Act is in receipt of, or entitled to receive, a pension under that Act, is taken to be a person in receipt of, or entitled to receive, an equivalent pension under these regulations. PART 2Parliamentary Superannuation Committee5Parliamentary Superannuation Committee (1)  For the purposes of determining the entitlements of a member to whom Part 3 or 4 applies arising from ill-health or physical or mental incapacity, there is to be a committee to be known as the Parliamentary Superannuation Committee. (2)  The Committee consists of – (a) the President of the Legislative Council; and (b) the Speaker of the House of Assembly; and (c) the Secretary of the responsible Department in relation to the Public Account Act 1986 or his or her nominee. (3)  If the President of the Legislative Council or the Speaker of the House of Assembly ceases to hold office by reason of the expiration of his or her term as a member of Parliament, he or she may continue to act as a member of the Committee until his or her successor in the office of President or Speaker is elected to that office. (4)  If a vacancy occurs in the office of a member of the Committee, the Governor may appoint a temporary member to hold office until the vacancy is filled by a person entitled by this regulation to hold that office. 6Meetings of Committee Schedule 1 has effect with respect to meetings of the Committee. 7Costs of medical reports, &c.The costs of – (a) obtaining medical reports and any associated inquiries for the purposes of these regulations; and (b) the administration of the Committee – are to be paid out of the appropriate subfund. PART 3Parliamentary Superannuation – 1973 SchemeDivision 1Preliminary8Interpretation of Part 3 (1)  In this Part – period of service, used in respect of a member or former member, means the period, or the sum of the periods (whether continuous or not and whether before or after 27 November 2002), during which that member or former member was, or is, entitled to a parliamentary salary. (2)  For the purposes of this Part, the period of service of a member to whom this Part applies or former member is to be determined in accordance with the following provisions: (a) where a member of the House of Assembly ceases to be a member of the House by reason of its dissolution or its expiry by effluxion of time, he or she is taken to remain a member until the day fixed for the taking of the poll next following the dissolution or expiry of that House; (b) subject to paragraph (a) , the actual period during which a person is a member is to be regarded as service for the purposes of this Part; (c) service before or after the commencement of these regulations of members holding office on 1 July 1973 or at any subsequent time is to be taken into account; (d) broken periods of a member’s service are to be aggregated and credited to the member. 9Application of Part 3 (1)  This Part applies only to a person who – (a) was first elected as a member of either House before 12 November 1985; and (b) was a member on 1 July 1999 – but only until he or she ceases to be a member of either House. (2)  Nothing in subregulation (1) limits the application of regulation 17 . Division 2Parliamentary Superannuation Fund10Continuation of Parliamentary Superannuation Fund (1)  For the purposes of this Part, the Parliamentary Superannuation Fund, as established under the 1973 Act immediately before 27 November 2002, continues as a subfund of the Fund. (2)  The PS Fund is to consist of – (a) the money and investments of which the former fund consisted immediately before 27 November 2002; and (b) contributions paid and repayments made by members to whom this Part applies and former members under this Part; and (c) moneys paid into the PS Fund by the Minister under this Part; and (d) income derived from the investment of moneys forming part of the PS Fund; and (e) any estate or interest in land and any money, investments or other property of the PSRB Trust arising from its administration of the 1973 Act. (3)  All pensions, lump sum payments and other benefits provided by this Part (including pensions that are payable out of the PS Fund under regulation 4 ) are to be paid from the PS Fund. 11Payments by Minister into PS Fund (1)  The Minister must pay to the PS Fund a contribution comprising an amount equal to – (a) in respect of a person who, immediately before 12 November 1985, was in receipt of, or entitled to receive, a pension under the 1973 Act, one-half, or such other proportion as the Actuary may recommend, of each payment by way of pension or other benefit made out of the PS Fund to that person after 1 August 1986; and (b) in respect of a person who, immediately before 12 November 1985, was in receipt of, or entitled to receive, a pension under the 1973 Act and who elected to commute that pension to a lump sum payment, one-half, or such other proportion as the Actuary may recommend, of the lump sum paid to that person; and (c) in respect of a person who, on or after 12 November 1985, became entitled to receive a pension under these regulations, five-sevenths, or such other proportion as the Actuary may recommend, of each payment by way of pension or other benefit made to that person; and (d) in respect of a person who, on or after 12 November 1985, became or becomes entitled to receive a pension under the 1973 Act or this Part and who elected or elects to commute that pension to a lump sum payment, five-sevenths, or such other proportion as the Actuary may recommend, of the lump sum payment to that person; and (e) in respect of a benefit paid under regulation 20(6) , the whole of the benefit. (2)  The Minister must pay into the PS Fund such additional amount as the Actuary may recommend from time to time, or such other amount as the Minister may from time to time determine, to enable the PS Fund to meet its liabilities under this Part. (3)  Payments required to be paid into the PS Fund by the Minister under this regulation must be paid within such period as the Minister and the Board may agree. Division 3Contributions12Contributions by members (1)  A member to whom this Part applies must contribute to the PS Fund as provided in this Division. (2)  A member’s contributions must comprise a sum calculated at the rate of 12% of the annual amount for the time being of his or her parliamentary salary. 13Member accounts for contributionsThe Board is to establish an account for every member to whom this Part applies and credit to that account the member’s contributions together with any interest payable under regulation 15 (which, accordingly, may be either positive or negative interest). 14Deduction of contributions from salaries of members (1)  The contributions of a member to whom this Part applies must be made by way of deduction from each instalment of parliamentary salary that becomes payable to him or her commencing with the first instalment paid after he or she becomes a member and ceasing, subject to subregulation (2) , when the member attains the age of 65 years or ceases to be a member, whichever is the earlier. (2)  A member may elect, by notice in writing given to the Board, that he or she will make contributions in respect of his or her service after the age of 65 years in accordance with regulation 12(2) . (3)  An election under subregulation (2) must be made within such period as the Board may allow. (4)  A member who has made an election under subregulation (2) may, at any time, revoke that election by notice in writing to the Board. (5)  The contributions in respect of a member who has made an election under subregulation (2) cease to be payable – (a) when the member attains the age of 70 years; or (b) when he or she ceases to be a member; or (c) when he or she revokes the election – whichever first occurs. (6)  A member who has ceased to make contributions as mentioned in subregulation (1) and has elected under subregulation (2) to make contributions must resume paying contributions from a date fixed by the Board. (7)  A member who has resumed paying contributions under subregulation (6) must make the contributions in respect of his or her service for which no contributions have been made within such period as the Board may allow together with interest at such rate as the Board may determine. (8)  So far as is practicable, the deductions made in respect of a member must be equal in amount. (9)  All deductions so made must be paid into the PS Fund. 15Interest on contributions (1)  A member to whom this Part applies who makes contributions to the PS Fund is entitled to the payment of interest on the amount of those contributions. (2)  For the purposes of subregulation (1) – (a) the interest on the amount of contributions must be at such rate and be subject to such conditions as the Board, on the advice of the Actuary, determines; and (b) the rate of interest so determined may be either a positive or negative rate of interest; and (c) the interest in respect of – (i) contributions paid before 1 July 1990 accrues on and after that day; and (ii) contributions paid on and after 1 July 1990 accrues on and after the day on which those contributions are paid. 16Contributions and interest vest in memberContributions made by a member to whom this Part applies, and any interest allocated to those contributions under regulation 15 , vest in the member. 17Member resigning to contest another seat (1)  A member to whom this Part applies who – (a) resigns from a seat in either House and within 7 days informs the Board in writing of his or her intention to contest an election for another seat in either House; and (b) is elected at that election within 3 months after so resigning – is taken, for the purposes of this Part, to have remained a member to whom this Part applies. (2)  Where the member is elected at that election – (a) the period between the date of resignation and election is not counted as contributory service for the purposes of this Part; and (b) no superannuation contributions are to be made to the PS Fund in respect of that member in respect of the period between resignation and the date of the election. (3)  If the member is not elected at that election, he or she is entitled to interest on his or her benefit under this Part, in accordance with regulation 15 , from the date of the resignation until payment of the benefit. Division 4Pensions and other benefitsSubdivision 1Members' pensions18Application of Division 4This Division is subject to Division 5 of this Part and to Part 5 . 19Persons to whom pensions, &c., are payablePensions, lump sum payments and other benefits under this Part are payable only to, or in respect of, members to whom this Part applies. 20Members' superannuation pensions (1)  Subject to this Part, a person – (a) who, having been a member to whom this Part applies, ceases – (i) to be a member; and (ii) to be entitled to a parliamentary salary; and (b) whose period of service as a member is not less than 8 years – is entitled to a pension calculated in accordance with the following provisions of this regulation. (2)  A pension is payable to a person to whom subregulation (1) relates if, but only if, that person’s period of service as a member is 15 years or more and he or she ceases, for any reason, to be a member. (3)  Where a person who – (a) at the date of retirement is aged 65 years or less; or (b) having attained the age of 65 years has continued to make contributions to the PS Fund and has not attained the age of 70 years – is entitled to a pension under this regulation, the pension is payable at a rate ascertained in accordance with the formula – where – A represents an amount calculated at a rate equal to the appropriate percentage of the amount of the basic salary; B represents the total amount paid to him or her by way of parliamentary salary in respect of his or her relevant periods of service as a member; C represents the total amount that would have been so payable to a member in respect of those periods if, throughout those periods, he or she had been a member who held no other office in respect of which a parliamentary salary was payable. (4)  Where a person who at the date of retirement has attained the age of 70 years and elected on attaining the age of 65 years to continue making contributions to the PS Fund after the age of 65 years, that person is entitled to a pension under this regulation payable at a rate determined in accordance with the following formula: where – P represents the pension payable under this subregulation; E represents a pension calculated in accordance with the formula in subregulation (3) ; F represents a pension calculated in accordance with the formula in subregulation (3) as if the person had retired on ceasing to pay contributions. (5)  Where a person – (a) has at the date of retirement attained the age of 65 years; and (b) has not made contributions in respect of service after that age – and is entitled to a pension under this regulation, the pension is payable at a rate determined in accordance with the following formula: where – P represents the pension payable under this subregulation; E represents a pension calculated in accordance with the formula in subregulation (3) ; F represents a pension calculated in accordance with the formula in subregulation (3) as if the person had retired on attaining the age of 65 years. (6)  Where – (a) a person is entitled to a pension under this regulation; and (b) his or her relevant periods of service as a member are 20 years or more –that person is entitled to be paid a further benefit by way of a lump sum payment as the Board may determine on the advice of the Actuary having regard to – (c) the pension attributable to any portion of his or her service in excess of 20 years; and (d) the minimum benefits prescribed under the SG Act. (7)  For the purposes of subregulation (3) , the appropriate percentage, in respect of a person to whom a pension is payable under this regulation, is the percentage specified in the second column of Schedule 2 opposite to such period of service specified in the first column of that Schedule as corresponds to that person’s period of service as a member, as at the day on which he or she ceases to be a member. (8)  Notwithstanding subregulation (7) , where a person to whom this regulation applies ceases to be a member, the appropriate percentage for the purposes of subregulation (3) is to be the appropriate percentage ascertained in accordance with subregulation (7) and Schedule 2 increased by one-twelfth of the difference between – (a) that percentage; and (b) the next percentage specified in Schedule 2 – for each complete month by which the period of service of that person exceeded the minimum period of service required to obtain the appropriate percentage ascertained in accordance with subregulation (7) and Schedule 2 . (9)  For the purposes of subregulation (3) , any period of service as a member since the commencement of the 1973 Act is a relevant period of service as a member. (10)  References in subregulation (3) to the parliamentary salary of a person are taken to include references to the remuneration paid to him or her under the Parliamentary Salary and Allowances Act 1962 or the Parliamentary Salaries, Superannuation and Allowances Act 1973 otherwise than by way of an electorate allowance, an entertainment allowance or a travelling allowance. 21Pension on retirement on ground of ill-healthWhere a member to whom this Part applies produces to the Committee such medical or other evidence as satisfies it that he or she has ceased to be a member because he or she has been rendered incapable of performing the duties of a member by reason of ill-health or physical incapacity or mental incapacity, and the Committee provides the Board with written notice to that effect, the member is entitled to a pension under this Part. 22Entitlements of personal representatives on death of memberWhere a person ceases to be a member to whom this Part applies by reason of his or her death and no pension is payable under regulation 24 , the personal representatives of that person are entitled to have paid to them an amount representing a lump sum calculated in accordance with regulation 29 as if 100% of the appropriate pension calculated in accordance with regulation 24 were commuted. 23Preservation of benefits (1)  Where a member to whom this Part applies is under the preservation age and elects to commute either one-half or the whole of his or her pension to a lump sum payment in accordance with regulation 29 , the amount of that lump sum payment which represents – (a) the superannuation guarantee contributions, including interest, that would have been made in respect of that member if he or she had been subject to the SG Act since his or her commencement as a member or 1 July 1994, whichever is the later, until 30 June 1999; and (b) the difference between the total benefit at the time when the member ceased to be a member and the total benefit that would have been payable if the member had ceased to be a member as at 30 June 1999 – is to be preserved until the member retires from the workforce after attaining the preservation age and elects, by notice in writing to the Board, to receive that lump sum payment. (2)  Subject to subregulation (3) , the amount to be preserved is to be transferred to an account in the member’s name in the accumulation scheme, to a complying superannuation plan or to an RSA nominated by the member. (3)  Notwithstanding subregulation (1) , a member who is under the preservation age is entitled to be paid by the Board the whole or a part of his or her benefit if a regulated superannuation fund would be permitted under the SIS Act to make such a payment in similar circumstances. Subdivision 2Surviving partners' pensions24Pension for surviving partner of deceased member or former member (1)  Subject to this regulation – (a) on the death of a former member who is, at the time of his or her death, receiving a pension, the surviving partner of that former member is entitled to an annual pension calculated as provided in subregulation (2) ; and (b) on the death of a member to whom this Part applies whose period of service as a member, at the time of his or her death, is at least 8 years, the surviving partner of that member is entitled to an annual pension calculated as provided in subregulation (3) . (2)  A pension to which the surviving partner of a deceased former member is entitled by virtue of subregulation (1)(a) is to be calculated at the rate of – (a) five-eighths of the pension that, in the absence of any commutation by the former member under regulation 29 , would have been payable to the former member but for his or her death; or (b) 40% of the annual amount of the basic salary – whichever of those rates of pension would have been the greater at the date of the former member’s death. (3)  A pension to which the surviving partner of a deceased member is entitled by virtue of subregulation (1)(b) is to be calculated at the rate of – (a) five-eighths of the pension that would have been payable from time to time to the deceased member but for his or her death if he or she had ceased to be a member on the date of his or her death and had then been entitled to a pension under regulation 20 ; or (b) 40% of the annual amount of the basic salary – whichever of those rates of pension would have been the greater on the date of his or her death. (4)  A person’s entitlement to a pension under this regulation continues until that person’s death. (5)  Where, but for this subregulation, a person who is entitled to a pension under this regulation by reason of being the surviving partner of a former member becomes entitled to a pension under regulation 20 or 21 in respect of service as a member, that person is, subject to this Part, entitled to receive only such one of those pensions as that person elects to receive by notice in writing served on the Board within 3 months after becoming entitled to a pension in respect of that person’s service as a member. Subdivision 3Children's pensions25Children's pensions (1)  Subject to this regulation, on the death of a member to whom this Part applies or on the death of a former member, a pension is payable in respect of each child who is dependent on the member or former member at the time of the death or would have been so dependent if the member or former member were alive. (2)  A pension under this regulation is payable – (a) in the case of a child of a person who was a member at the time of his or her death – (i) where there is a surviving partner, at the rate of 5% of the pension that would have been payable to the deceased if, immediately before the day of his or her death, he or she had become entitled to a pension under regulation 20 ; or (ii) where there is no surviving partner, at the rate of 20% of the pension that would have been payable to the deceased if immediately before the day of his or her death the deceased had become entitled to such a pension; or (b) in the case of a child of a deceased former member – (i) where there is a surviving partner, at the rate of 5% of the pension that was payable to the deceased on the day of his or her death; or (ii) where there is no surviving partner, at the rate of 20% of the pension that was so payable. (3)  Where a child’s pension is being paid at the rate specified in subregulation (2)(a)(i) or subregulation (2)(b)(i) , and the surviving partner of the person by reason of whose death the pension is payable dies while that pension is still payable, the rate of that pension is to be increased to the rate at which it would have been payable if that person’s surviving partner had not survived him or her. 26Commencement and cessation of children's pensions (1)  A child’s pension commences on the day of the death by virtue of which it becomes payable and ceases to be payable on – (a) the child attaining the age of 18 years, unless subregulation (2) applies; or (b) the death of the child – whichever first occurs. (2)  In the case of a child who is receiving full-time education at a school, college, university or other educational or training institution, the child’s pension ceases to be payable – (a) when the child attains the age of 25 years; or (b) when the child ceases to receive full-time education at a school, college, university or other educational or training institution – whichever first occurs. 27Persons to whom children's pensions are payable (1)  A child’s pension must be paid to the surviving partner, if any, of the deceased member or former member or, if there is no surviving partner, to the guardian of the child, unless the Board otherwise determines. (2)  The Board may at any time pay to the guardian of a child, or expend for a child’s benefit, any pension or sum of money payable in respect of that child under this Part. (3)  Where a pension is paid under this Division, the child in respect of whom the pension is paid is beneficially entitled to that pension. Subdivision 4Adjustment of pensions28Half-yearly adjustment of pensionsA pension under this Part is to be adjusted by the Board on 1 January and 1 July in each year in accordance with the Retirement Benefits Regulations 2005 . 29Commutation of existing members, &c., entitlements (1)  A person who becomes entitled to a pension referred to in Subdivision 1 or 2 may, within 3 months after becoming so entitled, elect by notice in writing to the Board to commute either 50% or 100% of that pension entitlement to a lump sum payment in accordance with this regulation. (2)  Where an election is made under subregulation (1) , the Board must, out of the PS Fund, pay to the person who made the election or the legal personal representative of that person, as the case may require, a lump sum equal to the amount of the annual pension forgone by that person multiplied by the conversion factor specified in Schedule 3 that is applicable to the person on the expiration of the period of 3 months referred to in subregulation (1) . (3)  Where a person elects to commute to a lump sum 50% or 100% of a pension entitlement in accordance with subregulation (1) , payment of that lump sum must be made within 14 days of the expiration of the period of 3 months referred to in subregulation (1) . (4)  Where a person is paid a lump sum under subregulation (2) , in respect of a pension entitlement referred to in Subdivision 1 or 2 , the pension to which that person or the surviving partner of that person is entitled is reduced by the percentage nominated in the election. (5)  Where a person elects, under subregulation (1) , to commute to a lump sum the whole of a pension entitlement referred to in Subdivision 1 , all entitlements under this Part in respect of that person and that person’s surviving partner and children, if any, cease on payment of that lump sum being made in accordance with subregulation (2) . (6)  Where a person elects, under subregulation (1) , to commute to a lump sum the whole of a pension entitlement referred to in Subdivision 2 , all entitlements under this Part in respect of that person cease on payment of that lump sum being made in accordance with subregulation (2) . (7)  In the application of this regulation for the purposes of regulation 22  – (a) the election required under subregulation (1) is taken to have had effect on the death of the deceased member; and (b) a conversion factor is to be applied for determining the lump sum; and (c) the conversion factor is to be as specified in Schedule 3 by reference to the appropriate age; and (d) the appropriate age is taken to be the age of the deceased member at the date of his or her death. 30Commutation of children's pensions (1)  An entitlement to a pension referred to in Subdivision 3 by a child who has not attained the age of 18 years at the date on which the entitlement arises may be commuted to a lump sum payment in accordance with this regulation. (2)  The surviving partner, if any, of the deceased member or former member or, if there is no surviving partner, the guardian of the child, may elect on behalf of the child to commute the pension entitlement to a lump sum payment. (3)  An election on behalf of a child under subregulation (2) must be made by giving a written notice of election to the Board within 3 months after the child becomes entitled to the pension. (4)  Where an election is made on behalf of a child under subregulation (2) , the Board must, out of the PS Fund, pay to the surviving partner of the deceased member or former member or, if there is no surviving partner, to the guardian of the child, a lump sum equal to the amount of the annual pension which, but for the election, the child would have been entitled to receive multiplied by the conversion factor specified in Schedule 4 that is applicable to the child on the expiration of the period referred to in subregulation (3) . (5)  Payment of the lump sum under subregulation (4) must be made within 14 days after the election has been made on behalf of the child, or the expiration of the period referred to in subregulation (3) , whichever is the later. (6)  Where, by reason of the death of a member or a former member, a child becomes entitled to a pension under regulation 25(2)(a)(i) or (b)(i) and a lump sum payment is made under this regulation, the election to receive that lump sum does not prevent a further election being made in respect of the pension payable under regulation 25(2)(a)(ii) or (b)(ii) if the surviving partner of the member or former member subsequently dies. (7)  A lump sum payment made in commutation of a pension entitlement payable under regulation 25(2)(a)(ii) or (b)(ii) must be calculated at the rate of 15% of the annual pension that would have been payable to the deceased member or former member multiplied by the conversion factor specified in Schedule 4 that is applicable to the child on the date that the lump sum payment is made in respect of the child under subregulation (5) . (8)  Where a lump sum payment is made in respect of a child under subregulation (5) , the child in respect of whom that lump sum is paid is beneficially entitled to that lump sum. Subdivision 5General provisions relating to pensions31Termination of pensions in certain cases (1)  If a person who is receiving or is entitled to receive a pension in respect of his or her service as a member to whom this Part applies again becomes a member of either House, his or her right to that pension is suspended while he or she continues to be such a member. (2)  Where a person who commuted the whole or part of a pension to which he or she was entitled under Subdivision 1 in respect of his or her service as a member again became a member of either House before 1 July 1999 and repaid into the PS Fund an amount equal to the lump sum received by him or her, that person’s rights and liabilities under these regulations are taken to be the same as if he or she had never received the lump sum payment. (3)  This regulation has effect notwithstanding regulation 9 . 32Suspension of pensions (1)  If a person who is receiving or is entitled to receive a pension – (a) becomes a member of the Parliament of the Commonwealth or a Territory or a State other than this State; or (b) is not a person to whom regulation 31 relates and again becomes a member of Parliament – the right of that person to receive a pension is suspended while that person continues to be a member of Parliament. (2)  Where a person to whom a pension would be payable but for this regulation has become entitled to payment of a pension by reason of having been a member or by reason of being the surviving partner of a member of the Parliament of the Commonwealth or of a Territory or a State other than this State, that person’s entitlement to payment of a pension under this Part is suspended while that person is so entitled. (3)  Notwithstanding subregulation (2) , where a person has received a pension or other benefit under an entitlement referred to in that subregulation, the Board may direct payment to that person of a pension of such amount as the Board thinks fit, but so that the aggregate of the amount of the pension so directed to be paid and the amount of the pension, or the pension equivalent of the other benefit, that he or she has received under that entitlement does not exceed the annual pension that would have been payable under this Division but for this regulation. Division 5Taxation and payment of pensions and other benefits33Calculation of notional contributions surcharge amountFor the purposes of this Division, the Board must calculate for each member to whom this Part applies a notional contributions surcharge amount having regard to his or her parliamentary salary and the notional surchargeable contributions factor advised by the Actuary as required by the law of the Commonwealth or this Part. 34Calculation of notional taxed contributionsFor the purposes of this Division, the Board must calculate for each member to whom this Part applies the notional taxed contributions for a financial year having regard to Subdivision 292-D of the Income Tax Assessment Act 1997 of the Commonwealth. 35Treatment of contributions for taxation purposesFor the purposes of taxation under the law of the Commonwealth, the Board is to treat contributions paid to the PS Fund under regulation 12 as non-concessional contributions. 36When pension or other benefit is taken to be payableFor the purposes of this Division, a pension or other benefit payable under this Part is taken to be payable – (a) in the case of a lump sum, at the time when the member to whom this Part applies is paid the lump sum; and (b) in the case of a pension, at the time when the member is paid the first instalment of the pension. 37Contributions and benefit entitlements subject to taxationThe Board, having regard to the law of the Commonwealth, must – (a) establish and maintain policies and administrative procedures with respect to the taxation of contributions and PS Fund superannuation benefits under these regulations; and (b) determine, from time to time – (i) the proportion of a PS Fund 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 PS Fund 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 PS Fund superannuation benefit that is to be treated by the Board as a tax free component for the purposes of that Act; and (c) deduct from contributions and PS Fund superannuation benefits all amounts required to be paid as taxation under the law of the Commonwealth and remit those amounts to the Taxation Commissioner. 38Provision of certain information by Board (1)  The Board must provide the Actuary with such information in respect of a member to whom this Part applies as may be necessary for the purposes of this Division. (2)  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 member. (3)  The Board must give each member a copy of the particulars provided to the Taxation Commissioner under subregulation (2) relating to that member together with details of how the amount was calculated. (4)  If a member believes that the amount referred to in subregulation (2) is incorrect, owing to either a miscalculation of matters ascertained by the Actuary or a mistake of fact, the member 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. 39Establishment of surchargeable contributions debt account (1)  On receipt of the first assessment notice from the Taxation Commissioner in respect of a member to whom this Part applies, the Board must establish a surchargeable contributions debt account in respect of that member. (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 member. (3)  If the surchargeable contributions debt account is in debit at the end of a financial year, the Board must debit the account with interest, in accordance with the law of the Commonwealth. (4)  Where a pension or other benefit becomes payable by the Board to a member whose 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 pension or other benefit. (5)  The Board, at least annually, must inform each member of the balance of his or her surchargeable contributions debt account and of any debits or credits, including interest, to that account. 40Right of members to pay into surchargeable contributions debt account (1)  A member to whom this Part applies 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 member is taken not to be a contribution for the purposes of the law of the Commonwealth. (3)  On receipt of a payment under this regulation, the Board must – (a) credit the surchargeable contributions debt account with that amount; and (b) take any other action required under the law of the Commonwealth. 41Reduction of pension or other benefit (1)  A pension or other benefit payable under this Part is to be reduced, at the time of payment by the Board, to the extent of the balance of the surchargeable contributions debt account of the relevant member but the pension or other benefit is not reduced for the purposes of regulation 11 . (2)  For the purposes of subregulation (1) , where a person elects to commute all or part of his or her pension entitlement to a lump sum under this Part, that entitlement is to be reduced in accordance with the following formula, before any commutation to a lump sum: where – PR is the amount by which the pension is to be reduced; SCDA is the balance of the surchargeable contributions debt account attributable to the pension at the time the surcharge liability is payable; CF is the appropriate age, marital and gender factor specified for a pension in force under the Retirement Benefits Regulations 2005 . (3)  A person who receives an assessment notice in respect of a pension payable under this Part 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 reduce the pension as provided by subregulation (2) and must pay the lump sum to that person to enable that person to discharge the balance of his or her surchargeable contributions debt account. 42Board may act on assessment noticeFor the purposes of adjusting the surchargeable contributions debt account of a member to whom this Part applies, the Board may act on any assessment notice relating to that member’s surcharge liability received from the Taxation Commissioner and make a debit or credit to that account, as the case may require. Division 6Miscellaneous43Payment of pensions (1)  A pension is payable in fortnightly instalments, and payments of fortnightly instalments of one twenty-sixth of an annual rate are taken, for the purposes of this Part, to be payments at that annual rate for the periods in respect of which those instalments are paid. (2)  Subject to subregulation (1) , the Apportionment Act 1871 applies to pensions. 44Pensions not assignable (1)  Pensions under this Part are inalienable, whether by way of, or in consequence of, sale, assignment, charge, execution, bankruptcy or otherwise. (2)  A pension under this Part – (a) is not available as security for a loan; and (b) on the death of the person entitled to the pension, is not available as an asset in his or her estate for the payment of his or her debts or liabilities. (3)  Notwithstanding anything in subregulation (1) or (2) , the Board may deduct from a pension or other benefit payable to a person under this Part any amount previously overpaid or paid in error to that person as pension or other benefit under this Part. 45Lump sum benefit may be taken as allocated pensionWhere a member to whom this Part applies or his or her surviving partner is in receipt of a lump sum benefit, he or she may elect to transfer all or part of that benefit to the accumulation scheme. 46Payment otherwise than to person entitledIf it appears to the Board that a person entitled to receive a benefit or other payment under this Part 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 30 days or for such longer period as may be directed by the Guardianship and Administration Board established under the Guardianship and Administration Act 1995 . 47Transitional provisionA pension that is payable under this Part by virtue of the amendment made to the 1973 Act by the Parliamentary Superannuation Amendment Act 1989 is not payable in respect of any period before the latter Act received the Royal Assent. PART 4Parliamentary Retiring Benefits – 1985 SchemeDivision 1Preliminary48Interpretation of Part 4 (1)  In this Part – period of service, used in respect of a member to whom this Part applies, means the period, or the sum of the periods, during which that member was or is entitled to a parliamentary salary. (2)  For the purposes of this Part, the period of service of a member is to be determined in accordance with the following provisions: (a) where a member of the House of Assembly ceases to be a member of the House by reason of its dissolution or its expiry by the effluxion of time, he or she is taken to remain a member until the day fixed for the taking of the poll next following the dissolution or expiry of that House; (b) subject to paragraph (a) , the actual period during which a person is a member is to be regarded as service for the purposes of this Part; (c) broken periods of a member’s service are to be aggregated and credited to the member. (3)  For the purposes of regulation 61(1) , regulation 63(1) and (2) and regulation 65(1) , in calculating the number of years of service as a member, a part of a year of service is to be regarded as a full year of service. 49Application of Part 4 (1)  This Part applies only to a person who – (a) was first elected as a member of either House on or after 12 November 1985 and before 1 July 1999; and (b) was such a member on 1 July 1999 – but only until he or she ceases to be a member of either House. (2)  Nothing in subregulation (1) limits the application of regulation 52 . Division 2Parliamentary Retiring Benefits Fund50Continuation of Parliamentary Retiring Benefits Fund (1)  For the purposes of this Part, the Parliamentary Retiring Benefits Fund established under the 1985 Act immediately before 27 November 2002 continues as a subfund of the Fund. (2)  The PRB Fund is to consist of – (a) contributions paid by members to whom this Part applies; and (b) money paid by the Minister under this Part; and (c) income derived from the investment of money forming part of the PRB Fund; and (d) any estate or interest in land and any money, investments or other property of the PSRB Trust arising from its administration of the 1985 Act. (3)  All benefits provided by this Part are to be paid from the PRB Fund. Division 3Contributions51Contributions by members (1)  Except as provided in regulation 52 , a member to whom this Part applies must contribute to the PRB Fund as provided in this regulation. (2)  A member’s contributions must comprise a sum calculated at the rate of – (a) in respect of his or her first 20 years’ service as a member, 9% of the annual amount for the time being of his or her parliamentary salary; and (b) in respect of any service after his or her first 20 years’ service as a member, 9% of the annual amount for the time being of any part of his or her parliamentary salary that exceeds his or her basic salary. 52Member resigning to contest another seat (1)  A member to whom this Part applies and who – (a) resigns from a seat in either House and within 7 days informs the Board in writing of his or her intention to contest an election for another seat in either House; and (b) is elected at that election within 3 months after so resigning – is taken, for the purposes of this Part, to have remained a member to whom this Part applies. (2)  Where a member is elected at that election – (a) the period between the date of resignation and election is not counted as contributory service for the purposes of this Part; and (b) no superannuation contributions are to be made to the PRB Fund in respect of that member in respect of the period between resignation and the date of the election. (3)  If the member is not elected at that election, he or she is entitled to interest on his or her benefit under this Part, in accordance with regulation 55 , from the date of the resignation until payment of the benefit. 53Member accounts for contributionsThe Board is to establish an account for every member to whom this Part applies and credit to that account the member’s contributions together with any interest payable under regulation 55 (which, accordingly, may be either positive or negative interest). 54Deductions of contributions from salaries of members (1)  The contributions of a member to whom this Part applies must be made by way of deduction from each instalment of parliamentary salary that becomes payable to him or her, commencing with the first instalment paid after he or she becomes a member and ceasing, subject to subregulation (2) , when the member attains the age of 65 years or ceases to be a member, whichever is the earlier. (2)  A member may elect, by notice in writing given to the Board, that he or she will make contributions in respect of his or her service after the age of 65 years in accordance with regulation 51(2) . (3)  An election under subregulation (2) must be made within such period as the Board may allow. (4)  A member who has made an election under subregulation (2) may, at any time, revoke that election by notice in writing to the Board. (5)  The contributions in respect of a member who has made an election under subregulation (2) cease to be payable – (a) when the member attains the age of 70 years; or (b) when he or she ceases to be a member; or (c) when he or she revokes the election – whichever first occurs. (6)  A member who has ceased to make contributions as mentioned in subregulation (1) and has elected under subregulation (2) to make contributions must resume paying contributions from a date fixed by the Board, unless he or she has attained the age of 70 years. (7)  A member who, on being re-elected as a member when over the age of 65 years, did not make contributions as mentioned in subregulation (1) and who makes an election under subregulation (2) must resume paying contributions from a date fixed by the Board, unless he or she has attained the age of 70 years. (8)  A member who has made an election under subregulation (2) must pay contributions, in respect of his or her service for which no contributions have been made, within such period as the Board may allow, together with interest at such rate as the Board may determine. (9)  So far as is practicable, the deductions made in respect of a member must be equal in amount. (10)  All deductions so made must be paid into the PRB Fund. 55Interest on contributions (1)  A member to whom this Part applies who makes contributions to the PRB Fund under regulation 51 is entitled to the payment of interest on the amount of those contributions. (2)  For the purposes of subregulation (1) – (a) the interest on the amount of contributions must be at such rate and be subject to such conditions as the Board, on the advice of the Actuary, determines; and (b) the rate of interest so determined may be either a positive or a negative rate of interest; and (c) the interest in respect of – (i) contributions paid before 1 July 1990 accrues on and after that day; and (ii) contributions paid on or after 1 July 1990 accrues on and after the day on which those contributions are paid; and (d) the interest ceases to accrue on the day that the Board advises the contributor of the amount of any lump sum to which the contributor is entitled under regulation 65 . 56Contributions and interest vest in memberContributions made by a member to whom this Part applies, and any interest allocated to those contributions under regulation 55 , vest in the member. 57Payments by Minister into PRB Fund (1)  The Minister must, in respect of each member to whom this Part applies, pay into the PRB Fund a contribution comprising an amount equal to the member’s contributions from time to time multiplied by the factor of 2.5 or such other factor as the Actuary may from time to time determine. (2)  Where a member has ceased to pay contributions after attaining the age of 65 years, the amount required to be paid by the Minister in respect of the member’s service is to be calculated as if the member had elected to continue to contribute. (3)  Contributions payable by the Minister under this regulation in respect of a member are to cease when the member attains the age of 70 years. (4)  The Minister must pay into the PRB Fund such additional amounts as the Actuary may recommend from time to time, or such other amount as the Minister may from time to time determine, to enable the PRB Fund to meet its liabilities under this Part. (5)  Payments required to be paid into the PRB Fund by the Minister under this regulation must be paid within such period as the Minister and the Board may agree. Division 4BenefitsSubdivision 1Preliminary58Application of Division 4This Division is subject to Division 5 of this Part and to Part 5 . 59Calculation of final salaryFor the purposes of this Part, the final salary of a member to whom this Part applies is to be determined in the following manner: (a) in the case of a member who has not, during any time in his or her period of service as a member, been in receipt of an additional salary, the basic salary payable to the member at the date when his or her service as a member ceased; (b) in the case of a member who has, at some time in his or her period of service as a member, been in receipt of an additional salary, an amount calculated in accordance with the following formula: where – FS is the final salary to be calculated; A is the basic salary payable to the member at the date when his or her service as a member ceased; B is the total parliamentary salary that would have been received by the member during his or her period of service as a member calculated at the rates applicable at the date when his or her service as a member ceased; C is the total basic salary that would have been received by the member during his or her period of service as a member calculated at the rate applicable at the date when his or her service as a member ceased. Subdivision 2Retiring benefits60Eligibility for retiring benefit (1)  A member to whom this Part applies is entitled to be paid a benefit under this Part if – (a) he or she has completed not less than 15 years’ service as a member and he or she ceases, for any reason, to be a member; or (b) he or she has completed not less than 8 years’ service as a member but has not completed 15 years’ service, and he or she ceases to be a member by reason of – (i) the expiration of his or her term of office as a member; or (ii) the Supreme Court making an order under section 215 of the Electoral Act 2004 that he or she was not duly elected; or (iii) in the case of a member of the House of Assembly, the dissolution or expiry of that House or his or her seat having become vacant by virtue of section 226 of the Electoral Act 2004  –and he or she – (iv) is not a candidate, at the next ensuing election for the electoral division that he or she represented immediately before ceasing to be a member, for election to represent that division or, if an election is held at the same time for any other electoral division for either House, for election to represent that other division and the Board certifies that it is satisfied that his or her failure to be a candidate was due to his or her failure to secure the support of a political party from which he or she reasonably sought support or to his or her expulsion from a political party; or (v) is a candidate at that election but is defeated at that election; or (vi) is not a candidate at that election for reasons that the Board certifies in writing to be reasons that appear to it to be good and sufficient; or (c) subject to subregulation (2) , he or she has completed 8 years’ service as a member but has not completed 15 years’ service and he or she ceases to be a member by reason of his or her resignation for the purpose of becoming a candidate at an election for an electoral division other than the electoral division that he or she represented immediately before ceasing to be a member and he or she is defeated at that election; or (d) he or she has completed not less than 8 years’ service as a member but has not completed 15 years’ service, and he or she ceases to be a member by reason of his or her resignation – (i) after he or she has attained the age of 60 years; or (ii) in any other circumstances that the Board considers, and certifies in writing, to be good and sufficient. (2)  A member is not entitled to be paid a retiring benefit under paragraph (c) of subregulation (1) unless the election referred to in that paragraph is held not later than 3 months after the date on which he or she ceased to be a member. 61Payment of retiring benefit (1)  The Board must, out of the PRB Fund, pay to a person who – (a) has not attained the age of 65 years; or (b) has attained the age of 65 years but not the age of 70 years and has made an election under regulation 54(2)  – and who in either case is entitled to a retiring benefit, a lump sum payment calculated in accordance with the following formula: where – P is the amount to be paid; n is the number of years of service of the member; FS is the final salary of the member determined in accordance with regulation 59 . (2)  In calculating the amount referred to in subregulation (1) , n must not exceed 20. (3)  The Board must, out of the PRB Fund, pay to a person who – (a) has attained the age of 65 years; and (b) has not made contributions in respect of his or her service as a member after that age – and who is entitled to a retiring benefit, a lump sum payment calculated in accordance with subregulation (1) less an amount calculated in accordance with the following formula: where – D is the amount to be deducted; K is the total years of service, not exceeding 20, of that person as a member; L is that person’s years of service, not exceeding 20, at the age of 65 years; FS is the final salary of that person determined in accordance with regulation 59 . (4)  The Board must, out of the PRB Fund, pay to a person who – (a) has attained the age of 70 years; and (b) has made an election under regulation 54(2) ; and (c) is entitled to a retiring benefit – a lump sum payment calculated in accordance with subregulation (1) less an amount calculated in accordance with the following formula: where – D is the amount to be deducted; K is the total years of service, not exceeding 20, of that person as a member; L is that person’s years of service, not exceeding 20, at the time of ceasing to pay contributions; FS is the final salary of that person determined in accordance with regulation 59 . (5)  The Board must, out of the PRB Fund, pay to a person who is entitled to a retiring benefit under this regulation, and who has had 20 or more years of service as a member, such further amount as it may determine on the advice of the Actuary having regard to – (a) the benefit which may be attributed to any portion of the service of the member in excess of 20 years; and (b) the minimum benefits prescribed under the SG Act. Subdivision 3Death or invalidity benefit62Eligibility for death or invalidity benefit (1)  A member to whom this Part applies is entitled to be paid an invalidity benefit if – (a) the Committee is satisfied, on the report of a medical practitioner appointed by the Committee, that the member has been rendered totally and permanently incapable of performing the duties of a member, by reason of ill-health or physical incapacity or mental incapacity; and (b) the member ceases to be a member. (2)  A member is not entitled to be paid an invalidity benefit unless he or she makes application, in writing to the Committee, for such a benefit while still a member and the Committee has made a determination while the applicant is still a member. (3)  On the death of a member, a death benefit is payable to – (a) the surviving partner of the member; or (b) if there is no surviving partner, the person with whom the 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 the member; or (c) if there is no person referred to in paragraph (a) or (b) , the legal personal representative of the member, subject to the production of grant of probate or letters of administration. 63Payment of death or invalidity benefit (1)  If – (a) a member to whom this Part applies dies, or the Committee is satisfied as to the matters referred to in regulation 62 and provides the Board with written notice that the Committee is so satisfied; and (b) the member ceases to be a member before he or she attains the age of 60 years – the Board must pay out of the PRB Fund, in respect of the member, a lump sum payment calculated in accordance with the following formula: where – P is the amount to be paid; n is the number of years of service the member would have served if he or she had attained the age of 60 and still been a member; FS is the final salary of the member determined in accordance with regulation 59 . (2)  If – (a) a member dies, or the Committee is satisfied as to the matters referred to in regulation 62 and provides the Board with written notice that the Committee is so satisfied; and (b) the member ceases to be a member on or after the date when the member attains the age of 60 years – the Board must pay out of the PRB Fund, in respect of the member, a lump sum payment calculated in accordance with the following formula: where – P and FS have the meanings assigned to those symbols in subregulation (1) ; n is the number of years served by the member on the date when he or she died or the date on which the medical practitioner referred to in paragraph (a) of regulation 62(1) certifies in his or her report the matters referred to in that paragraph. (3)  In calculating the amounts referred to in subregulations (1) and (2) , n must not exceed 20. (4)  The Board must, out of the PRB Fund, pay to a person who is entitled to a death or invalidity benefit under subregulation (1) , in respect of a member who served 20 or more years as a member, such further amount as it may determine on the advice of the Actuary having regard to – (a) the benefit which may be attributed to any portion of the service of the member in excess of 20 years; and (b) the minimum benefits prescribed under the SG Act. Subdivision 4Termination benefits64Eligibility for termination benefitA person who ceases to be a member to whom this Part applies and who is not entitled to a retiring benefit or a death or invalidity benefit is entitled to a termination benefit. 65Payment of termination benefit (1)  Subject to subregulation (2) , the Board must pay out of the PRB Fund to a person who is eligible for a termination payment a lump sum payment to be calculated in accordance with whichever of the following formulae provides the greater benefit: (a) where – P is the amount to be paid; n is the number of years of service of the member (not exceeding 10); C is the total of the member’s contributions made during the member’s period of service; (b) where – P is the amount to be paid; E is the total contributions and accrued interest as at the date when the member’s service is terminated; D is the total contributions and accrued interest as at 1 July 1992, together with interest on that amount as provided in regulation 55 , to the date when the member’s service is terminated. (2)  If the person eligible for a termination payment has first or again become a member after attaining the age of 65 years, the lump sum is to be calculated in accordance with the formula in subregulation (1)(b) as if that person had paid contributions for the whole of the period of his or her service. (3)  Where a termination benefit is payable to a person who has not paid contributions in respect of a period of service after attaining the age of 65 years, that benefit is to be reduced by an amount representing – (a) the sum of the contributions taken to have been paid under subregulation (2) ; and (b) the interest that would have been payable on those contributions. Subdivision 5Benefit payable to former member who again becomes a member66Benefit payable to former member who again becomes a member (1)  If a person who was a member before 1 July 1999 – (a) was paid a benefit under the 1985 Act; and (b) again became a member before that date – that person, on ceasing to be a member, is entitled to a benefit under this Part. (2)  For the purpose of calculating the benefit to which a person referred to in subregulation (1) is entitled – (a) any period served by that person before again becoming a member must be taken into account; and (b) the benefit which he or she would, but for this regulation, have been entitled to be paid under this Part must be reduced by the adjusted benefit. (3)  For the purposes of subregulation (2)(b)  – adjusted benefit means the benefit paid to a person in respect of his or her service as a member before again becoming a member multiplied by the ratio of the basic salary payable on his or her ceasing to be a member to the basic salary payable on the date on which the benefit in respect of his or her service as a member before again becoming a member was paid. Subdivision 6Allocated pensions67Lump sum benefit may be taken as allocated pensionWhere a member to whom this Part applies or his or her surviving partner is in receipt of a lump sum benefit, he or she may elect to transfer all or part of that benefit to the accumulation scheme. Subdivision 7Preservation of benefits68Preservation of benefits (1)  Where a member to whom this Part applies is under the preservation age and is entitled to a benefit other than a death or invalidity benefit, the amount of that benefit which represents – (a) the superannuation guarantee contributions, including interest, that would have been made in respect of that member if he or she had been subject to the SG Act since his or her commencement as a member or 1 July 1994, whichever is the later, until 30 June 1999; and (b) the difference between the total benefit at the time when the member ceases to be a member and the total benefit that would have been payable if the member had ceased to be a member as at 30 June 1999 – is to be preserved until the member retires from the workforce after attaining the preservation age and elects, by notice in writing to the Board, to receive the benefit. (2)  Subject to subregulation (3) , the amount to be preserved is to be transferred to an account in the member’s name in the accumulation scheme, to a complying superannuation plan or to an RSA nominated by the member. (3)  Notwithstanding subregulation (1) , a member who is under the preservation age is entitled to be paid by the Board the whole or a part of his or her benefit if a regulated superannuation fund would be permitted under the SIS Act to make such a payment in similar circumstances. Division 5Taxation and payment of benefits69Calculation of notional contributions surcharge amountFor the purposes of this Part, the Board must calculate for each member to whom this Part applies a notional contributions surcharge amount having regard to his or her parliamentary salary and the notional surchargeable contributions factor advised by the Actuary as required by the law of the Commonwealth or this Part. 70Calculation of notional taxed contributionsFor the purposes of this Division, the Board must calculate for each member to whom this Part applies the notional taxed contributions for a financial year having regard to Subdivision 292-D of the Income Tax Assessment Act 1997 of the Commonwealth. 71Treatment of contributions for taxation purposesFor the purposes of taxation under the law of the Commonwealth, the Board is to treat contributions paid to the PRB Fund – (a) under regulation 51 as non-concessional contributions; and (b) under regulation 57 as concessional contributions. 72Benefit entitlements subject to taxationThe Board must – (a) establish and maintain policies and administrative procedures with respect to the taxation of contributions and PRB Fund superannuation benefits under these regulations; and (b) determine, from time to time – (i) the proportion of a PRB Fund superannuation benefit that is to be treated by the Board as an element taxed in the fund for the purposes of the Income Tax Assessment Act 1997 of the Commonwealth; and (ii) the proportion of a PRB Fund superannuation benefit that is to be treated by the Board as a tax free component for the purposes of that Act; and (c) deduct from contributions and PRB Fund superannuation benefits all amounts required to be paid as taxation under the law of the Commonwealth and remit those amounts to the Taxation Commissioner. 73Provision of certain information by Board (1)  The Board must provide the Actuary with such information in respect of a member to whom this Part applies as may be necessary for the purposes of this Part. (2)  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 member. (3)  The Board is to give to each member a copy of the particulars provided to the Taxation Commissioner under subregulation (2) relating to that member together with details of how the amount was calculated. (4)  If a member believes that the amount referred to in subregulation (2) is incorrect owing to either a miscalculation of matters ascertained by the Actuary or a mistake of fact, the member 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. 74Establishment of surchargeable contributions debt account (1)  On receipt of the first assessment notice from the Taxation Commissioner in respect of a member to whom this Part applies, the Board must establish a surchargeable contributions debt account in respect of that member. (2)  The Board must, within one month after the day on which the assessment notice from the Taxation Commissioner is received, pay to the Taxation Commissioner the amount of the surcharge liability specified in the notice in respect of that member. (3)  The Board must debit the surchargeable contributions debt account with the amount of any surcharge liability specified in the assessment notice relating to the member. (4)  If the surchargeable contributions debt account is in debit at the end of a financial year, the Board must debit the account with interest at the rate determined under regulation 55 . (5)  The Board, at least annually, must inform each member of the balance of his or her surchargeable contributions debt account and of any debits or credits, including interest, to that account. 75Right of members to pay into surchargeable contributions debt account (1)  A member to whom this Part applies 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 member is taken not to be a contribution for the purposes of the law of the Commonwealth. (3)  On receipt of a payment under this regulation, the Board must – (a) credit the surchargeable contributions debt account with that amount; and (b) take any other action required under the law of the Commonwealth. 76Reduction of benefitA benefit payable under this Part is to be reduced, at the time of payment by the Board, to the extent of the balance of the surchargeable contributions debt account of the relevant member. 77Board to act on assessment noticeFor the purposes of adjusting the surchargeable contributions debt account of a member to whom this Part applies, the Board must act on any assessment notice relating to that member’s surcharge liability received from the Taxation Commissioner and make a debit or credit to that account, as the case may require. Division 6Miscellaneous78Periods within which benefits payableThe Board must pay any benefit payable under this Part – (a) in the case of a retiring benefit or a termination benefit, within 28 days after the member ceases to be a member; or (b) in the case of a death or invalidity benefit, within 28 days after the member dies or ceases to be a member, as the case may be. 79Power of Board to recover amounts overpaid or paid in errorAny amount overpaid or paid in error to a person as a benefit under this Part may be recovered from that person by the Board in a court of competent jurisdiction as a debt due to the Board. 80Payment otherwise than to person entitledIf it appears to the Board that a person entitled to receive a benefit or other payment under this Part 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 30 days or for such longer period as may be directed by the Guardianship and Administration Board established under the Guardianship and Administration Act 1995 . PART 5Family Law (Splitting of Superannuation Interests)81Interpretation of PartIn this Part – Family Law Act means the Family Law Act 1975 of the Commonwealth; flagging order means an order mentioned in section 90MU(1) of the Family Law Act; flag lifting agreement has the meaning given by section 90MN 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. 82Application of PartThis 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. 83Objects of Part (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 that Act, the latter provision prevails to the extent of the inconsistency. 84Duty 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)  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. 85Commutation of pension on death of non-member spouse (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. 86Effect of benefit under splitting instrumentIf 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.

87Fees for administration of this PartFor the purposes of administering this Part, the Board may charge reasonable fees in accordance with the Family Law Act. 88Provision of information by BoardWhere 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 person entitled to a benefit under Part 3 or 4 of these regulations, the Board must comply with the requirements of that Act. PART 6Miscellaneous and SupplementaryDivision 1Preliminary89Interpretation (1)  In this Part – relevant person means – (a) a member to whom Part 3 or 4 applies; or (b) a former member; or (c) a surviving partner of a member or former member; or (d) an executor or administrator of the estate of a former member; or (e) any other person who the Board considers may be affected by a decision of the Board. (2)  In this Part, a reference to the Board includes the Committee for any purpose relating to the ill-health or physical or mental incapacity of a member to whom Part 3 or 4 applies. Division 2Payments out of Fund90Application of DivisionThis Division applies only to – (a) a member to whom Part 3 or 4 applies; or (b) a person who ceased to be entitled to a pension or other benefit under the 1973 Act or the 1985 Act on or after 29 December 1999 and before 27 November 2002; or (c) a person who ceases to be entitled to a pension or other benefit under Part 3 or 4 on or after 27 November 2002. 91Payments out of FundA payment out of the PRB Fund or the PS Fund is to be made in any manner the Board determines. 92Information to be provided (1)  The Clerk of the Legislative Council and the Clerk of the House of Assembly are to provide the Board with the following information: (a) the date on which any person is elected as a member of Parliament; (b) the date on which a member to whom Part 3 or 4 applies ceases to be a member; (c) the date on which any such member commences to hold an office specified in Part 2 of Schedule 1 of the Parliamentary Salaries, Superannuation and Allowances Act 2012 ; (d) the date on which any such member ceases to hold such an office; (e) the basic and other salaries payable to a member referred to in paragraph (c) ; (f) the tax file number of each member to whom Part 3 or 4 applies. (2)  The Secretary of the responsible Department in relation to the Constitution Act 1934 is to provide the Board with the following information: (a) the date on which a member of Parliament commences to hold a ministerial office; (b) the date on which a member of Parliament ceases to hold a ministerial office. 93Application for benefit (1)  Subject to regulation 95 , an application for a benefit under these regulations is to be in any form that the Board determines. (2)  If a person making an application has a spouse, that person must provide the Board with any documentary evidence that the Board requires in support of the application. (3)  A person to whom, or in respect of whom, any pension or other benefit under these regulations is being paid is to notify the Board in writing of any change of circumstances that affects or may affect the entitlement of that person to a pension or other benefit under these regulations. 94Pensioner to provide informationA pensioner must, if required by the Board, provide the Board with any written information the Board requires to determine the pensioner’s eligibility to continue to receive the pension. 95Application by widow or widower of deceased member (1)  A person who claims to be entitled to a payment from the PS Fund or the PRB Fund as the surviving partner of a deceased member to whom Part 3 or 4 applied or deceased former member is to apply in writing to the Board for payment. (2)  An application under this regulation is to be accompanied by – (a) the following certificates under the Births, Deaths and Marriages Registration Act 1999 : (i) a certified copy of, or extract from, the certificate of birth of the applicant; (ii) a certified copy of, or extract from, the certificate of death of the member or former member; (iii) in the case of an application by a married person, a certified copy of, or extract from, the certificate of marriage of the applicant to the member or former member; and (b) any other documentary evidence that the Board requires in support of the application. 96Determination of surviving partner of PRBF member (1)  If the Board is satisfied that, at the time of a PRBF member’s death – (a) a person – (i) was the spouse of the PRBF member who was living with the PRBF member on a genuine domestic basis; and (ii) was receiving significant financial support from the PRBF member; or (b) if there is no person referred to in paragraph (a) , a person was the spouse of the PRBF member and was living with the PRBF 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 PRBF member who was not living with the PRBF member on a genuine domestic basis but was receiving significant financial support from the PRBF member – the Board must determine that person to be the surviving partner of the PRBF member. (2)  The Board must not determine more than one person to be the surviving partner of a PRBF member. (3)  In determining whether a person is the surviving partner of a PRBF member, the Board may have regard to such matters as it considers relevant. 97Determination of surviving partner of PSF member (1)  If the Board is satisfied that, at the time of a PSF member’s death – (a) a person – (i) was the spouse of the PSF member who was living with the PSF member on a genuine domestic basis; and (ii) was receiving significant financial support from the PSF member; or (b) if there is no person referred to in paragraph (a) , a person was the spouse of the PSF member and was living with the PSF 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 PSF member who was not living with the PSF member on a genuine domestic basis but was receiving significant financial support from the PSF member – the Board must determine that person to be the surviving partner of the PSF member. (2)  The Board must not determine more than one person to be the surviving partner of a PSF member. (3)  In determining whether a person is the surviving partner of a PSF member, the Board may have regard to such matters as it considers relevant. 98Election to another ParliamentIf a person to whom any pension under these regulations is being paid is elected to the Parliament of the Commonwealth or of another State or a Territory, he or she must notify the Board as soon as practicable of that election. Division 3Decisions made by Board99Board not subject to directionExcept as provided by the SIS Act, 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, variation or substituted decision would be contrary to any enactment. 100Statutory hearing (1)  In respect of any application from a relevant person or any related matter arising from the exercise of the Board’s powers under these regulations, the Board must – (a) make a preliminary decision on the matter; and (b) notify the relevant person, in writing, of that preliminary decision; and (c) advise that person that, if he or she does not take any action under this regulation within the required time, the preliminary decision will become final. (2)  A relevant person 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 relevant medical report or other evidence. (3)  Before making a final decision on the application, the Board may – (a) require the member to whom the application relates to undergo a medical examination by a practitioner or practitioners the Board considers appropriate; and (b) seek further information concerning that member’s capability and prospects for employment; and (c) require the relevant person to submit any further evidence that the Board considers appropriate. (4)  The Board, in exercising its powers under subregulation (3) , may impose any terms or conditions that it considers fair and equitable. (5)  If a relevant person does not make an election under subregulation (2) within the required time, the preliminary decision becomes the final decision of the Board. (6)  The Board – (a) may extend the period referred to in subregulation (2) on the written application of the relevant person within that period; and (b) is to, as soon as practicable after extending the period, notify that person of that extension. 101Application to Supreme Court for declaration (1)  If a relevant person is adversely affected by a final decision of the Board under regulation 100 , he or she may request the Board to apply to the Supreme Court for a declaration in respect of that decision. (2)  If so requested by a relevant person, the Board must apply to the Supreme Court for a declaration in respect of a final decision. (3)  Subject to subregulation (5) , the Supreme Court, on an application under this regulation, may make a declaration as to the validity or otherwise of the final decision in respect of which the application is made. (4)  The Supreme Court is to have regard to any relevant fact or event in making the declaration. (5)  The Supreme Court must not make a declaration in respect of a final decision, the validity of which cannot be decided at the time when the Court is asked to make the declaration. (6)  For the purpose of reviewing a final decision by the Board, the Supreme Court has all the powers and discretions conferred on the Board. (7)  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 Supreme Court; or (c) varying the Board’s final decision; or (d) setting aside the Board’s final decision and substituting a decision for the decision set aside. (8)  Except as provided in subregulations (9) and (10) , the cost of making an application to the Supreme Court is to be met by the Board from the PS Fund or the PRB Fund, as the case may require. (9)  On requesting the Board to apply to the Supreme Court for a declaration, a relevant person must pay to the Board an application fee of 200 fee units. (10)  If, in the opinion of the Supreme Court, the request is frivolous or not in good faith, the Court may award costs in full or part against the relevant person making the request. 102Appeal against decision, determination or order of Board (1)  Notwithstanding regulation 101 , 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 provisions of the Supreme Court Rules 2000 relating to appeals from statutory tribunals other than courts. 103Contributions to accumulation scheme (1)  A member to whom Part 3 or 4 applies may elect, in writing to the Board, to pay concessional contributions, or non-concessional contributions, to the accumulation scheme. (2)  A member may not elect to pay contributions to the accumulation scheme under subregulation (1) if the payment of those contributions would cause the member to exceed his or her non-concessional contributions cap. Schedule 1Meetings of Committee

Regulation 6

1.   Convening meetings (1)Meetings of the Committee must be convened by the chairperson or by any 2 members of the Committee if a member referred to in regulation 9 or 49 applies for an invalidity benefit. (2)The chief executive officer of the Board is to give each member of the Committee notice of each meeting of the Committee. 2.   Procedure at meetings (1)Two members of the Committee form a quorum at any duly convened meeting of the Committee. (2)A duly convened meeting of the Committee at which a quorum is present is competent to transact any business of the Committee. (3)Questions arising at a meeting of the Committee are to be determined by a majority of votes of the members present and voting. (4)In the event of an equality of votes at a meeting of the Committee, the chairperson or other member presiding has a casting vote as well as a deliberative vote. 3.   Chairperson to preside (1)The chairperson is to preside at all meetings of the Committee at which he or she is present. (2)If the chairperson is not present at a meeting of the Committee, a member elected by the members present is to preside at that meeting. 4.   Disclosure of interest (1)A member who has a direct or indirect pecuniary interest in a matter being considered by the Committee must, as soon as practicable after the relevant facts come to the knowledge of the member, disclose the nature of that interest at a meeting of the Committee. (2)A disclosure under subclause (1) is to be recorded in the minutes and the member must not, unless the Committee determines otherwise – (a) be present during any deliberations of the Committee in respect of the matter; or (b) take part in any decision of the Committee in respect of that matter. 5.   Record of decisions The chairperson of the Committee is to cause to be made and kept a record of every decision made at a meeting of the Committee. 6.   General procedure (1)Subject to these regulations, the procedure for meetings of the Committee and the conduct of its business is to be as determined by the Committee. (2)The Committee may allow a person to attend a meeting for the purpose of advising or informing it on any matter. Schedule 2Appropriate percentage for purposes of regulation 20

Regulation 20

PART 1

FIRST COLUMN

Member’s period of service

SECOND COLUMN

Appropriate percentage

%

15 years or more but less than 16 years

62·50

16 years or more but less than 17 years

64·00

17 years or more but less than 18 years

65·50

18 years or more but less than 19 years

67·00

19 years or more but less than 20 years

68·50

20 years or more

70·00

PART 2Schedule 3Conversion factors for purposes of regulation 29

Regulation 29

PART 1

Age of person on expiration of period of 3 months referred to in regulation 29	Conversion factor
65 or less	10
66	9·8
67	9·6
68	9·4
69	9·2
70	9
71	8·6
72	8·2
73	7·8
74	7·4
75	7
76	6·6
77	6·2
78	5·8
79	5·4
80	5
81	4·6
82	4·2
83	3·8
84	3·4
85	3
86	2·9
87	2·8
88	2·7
89	2·6
90	2·5
91	2·4
92	2·3
93	2·2
94	2·1
95	2
96	1·9
97	1·8
98	1·7
99	1·6
100 or over	1·5

PART 2Schedule 4Conversion Factors for purposes of regulation 30

Regulation 30

PART 1

Age of child on expiration of period of 3 months referred to in regulation 30	Conversion factor
0	11·15
1	10·79
2	10·41
3	10
4	9·57
5	9·12
6	8·63
7	8·12
8	7·58
9	7
10	6·39
11	5·75
12	5·06
13	4·34
14	3·57
15	2·75
16	1·89
17	0·97
18	0

PART 2

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 12 December 2012

These regulations are administered in the Department of Treasury and Finance.

EXPLANATORY NOTE

(This note is not part of the regulation) These regulations –

(a) provide for the continuation of the Parliamentary Superannuation Fund established under the Parliamentary Superannuation Act 1973 and the Parliamentary Retiring Benefits Fund established under the Parliamentary Retiring Benefits Act 1985; and (b) provide for the preservation of entitlements to pensions and other benefits under those Acts; and (c) are made consequentially on the repeal of the Retirement Benefits (Parliamentary Superannuation) Regulations 2002 under section 11 of the Subordinate Legislation Act 1992 .