State Authorities Non-contributory Superannuation Amendment (Section 16A Employer Contributions) Regulation 2014 (NSW)

New South Wales

State Authorities Non-contributory

Superannuation Amendment (Section 16A

Employer Contributions) Regulation 2014

under the

State Authorities Non-contributory Superannuation Act 1987

His Excellency the Governor, on a certificate given under section 34 of the State Authorities Non-contributory Superannuation Act 1987, with the advice of the Executive Council, has made the following Regulation under the State Authorities Non-contributory Superannuation Act 1987.

DOMINIC PERROTTET, MP

Minister for Finance and Services

Explanatory note
The object of this Regulation is to increase the employee salary percentage on which the levels of additional employer contributions under section 16A of the State Authorities Non-contributory Superannuation Act 1987 (payable to certain NSW public sector employees) are based, from 0.25% to 0.5% for the financial year starting on 1 July 2014 through to the financial year starting on 1 July 2020. The increased percentage is in line with the increase in the superannuation guarantee charge percentage for those financial years, provided for in the Superannuation Guarantee (Administration) Act 1992 of the Commonwealth.

This Regulation is made under the State Authorities Non-contributory Superannuation Act 1987, including sections 16A (3) and 34 (the general regulation-making power).

State Authorities Non-contributory Superannuation Amendment (Section 16A Employer Contributions)

Regulation 2014 [NSW]

State Authorities Non-contributory Superannuation Amendment

(Section 16A Employer Contributions) Regulation 2014

under the

State Authorities Non-contributory Superannuation Act 1987

1      Name of Regulation

This Regulation is the State Authorities Non-contributory Superannuation
Amendment (Section 16A Employer Contributions) Regulation 2014.

2      Commencement

This Regulation commences on the day on which it is published on the NSW legislation website.

3 Amendment of State Authorities Non-contributory Superannuation Regulation 2010

Clause 20A

Insert after clause 20:

20A Section 16A employer contributions—salary percentage

For the purposes of section 16A (3) of the Act, 0.5% is the percentage prescribed to replace the percentage specified in section 16A (1) of the Act, for the financial year starting on 1 July 2014, and following financial years up to and including the financial year starting on 1 July 2020.