State Superannuation Amendment Act 2024 (WA)
Western Australia
Western Australia
Western Australia
State Superannuation Amendment Act 2024[
The Parliament of Western Australia enacts as follows:
This is the
This Act comes into operation as follows —
(a) sections 1 and 2 — on the day on which this Act receives the Royal Assent;
(b) the rest of the Act — on a day fixed by proclamation, and different days may be fixed for different provisions.
This Act amends the
In section 3(1) insert in alphabetical order:
(1) In section 4A(1) delete the definition of
SGA Act .(2) In section 4A(1) insert in alphabetical order:
(3) In section 4A(1) in the definition of
exempt employee delete “section 30(1) or (2),” and insert:
section 30(1),
After section 4A insert:
(1) For the purposes of this Part, the
stapled fund for an employee is the fund identified in the most recent stapled fund notification relating to the employee as the stapled fund for the employee.(2) For the purposes of this Part, there is
no stapled fund for an employee if the most recent stapled fund notification relating to the employee does not identify a stapled fund for the employee.
Delete section 4B(2) and (3).
At the end of Part 2A insert:
(1) An Employer must make any superannuation contribution it is required to make under section 4B or 4C in accordance with this section.
(2) If there is a chosen fund for the employee at the time the contribution is made, the superannuation contribution must be made to a fund that is a chosen fund for the employee.
(3) If there is no chosen fund for the employee at the time the contribution is made, the superannuation contribution must be made to the stapled fund for the employee.
(4) If there is no chosen fund and no stapled fund for the employee at the time the contribution is made, the superannuation contribution must be made to the default fund for the employee.
(5) Subsections (3) and (4) do not apply in respect of an employee who commenced employment before the commencement of this section.
(6) If subsections (3) and (4) do not apply in respect of the employee and there is no chosen fund for the employee at the time the contribution is made, the superannuation contribution must be made to the default fund for the employee.
(7) Except as prescribed by the regulations, an Employer must comply with the requirements of the SGA Act Part 3A Division 6, even if it is not required by that Act to do so.
Before section 6(1)(ba) insert:
(a) assist the Treasurer in the administration of this Act;
After section 18(3) insert:
(4) Any procurement of services by the Board that is made in connection with the performance of its functions under this section is excluded from the application of the
Procurement Act 2020 .
Note: The heading to amended section 18 is to read:
In section 23(1) delete the passage that begins with “appoint —” and continues to the end of the subsection and insert:
appoint an employee of the Board or any other person as an investment manager on terms determined by the Board.
Note: The heading to amended section 23 is to read:
In section 24(3) in the definition of
Delete section 27.
(1) In section 28(2) delete “A scheme, other than a scheme continued by section 29(1)(b), (c) or (d),” and insert:
Subject to subsection (2A), a scheme
(2) After section 28(2) insert:
(2A) A scheme continued by section 29(1)(b), (c) or (d) may only provide for the matters referred to in subsection (2) by regulations made in accordance with section 38(5A)(a).
(1) Delete section 30(2) and (3A).
(2) Delete section 30(3)(b).
(1) In section 33(4A) delete the passage that begins with “is to —” and continues to the end of the subsection and insert:
must publish the guidelines on a website maintained by the Department.
(2) In section 33(4B) in the definition of
Department delete “this Act.” and insert:
the
After section 36 insert:
(1) In this section —
(2) The Board may, with the written approval of the Treasurer —
(a) provide a service of receiving superannuation contributions that are made by non‑government contributors; and
(b) credit the superannuation contributions to the Fund.
(3) The Treasurer’s approval may be of a general nature or limited to a particular non‑government contributor or class of non‑government contributors.
(4) The Board may accept a superannuation contribution made by a non‑government contributor only if the contribution is made for the benefit of an employee of the non‑government contributor who is a member of a scheme.
(5) The Board must not credit a superannuation contribution made by a non‑government contributor to an account that is kept for a scheme continued by section 29.
(1) After section 38(2)(c) insert:
(ca) contributions by non‑government contributors; and
(2) In section 38(4):
(a) in paragraph (a) after “would be” insert:
required or
(b) in paragraph (a) delete “the SIS Act to be made to the governing rules of that fund; or” and insert:
Commonwealth legislation; or
(c) in paragraph (b) delete “them; or” and insert:
them.
(d) delete paragraphs (c) and (d).
(3) Delete section 38(5A)(a) and insert:
(a) the Treasurer has certified that the Treasurer is satisfied that the change to be made by the regulations is a change that, if each scheme affected by the regulations were a regulated superannuation fund, would be required or permitted under Commonwealth legislation; or
(4) Delete section 38(5C), (5E) and (6A).
(5) In section 38(6) delete “the
Gazette .” and insert:
accordance with the
(6) Delete section 38(9).
After section 40 insert:
(1) If, immediately before the day on which the
State Superannuation Amendment Act 2024 section 15(1) comes into operation, superannuation contributions were being made by an Employer in relation to an employee to a superannuation fund or scheme in accordance with the approval of the Treasurer under section 30(2) —(a) the employee continues to be an exempt employee, for the purposes of Part 2A, in relation to that Employer; and
(b) the fund or scheme to which the contributions were being made continues to be the default fund in relation to that exempt employee for the purposes of Part 2A.
(2) Subsection (1) ceases to apply if the Treasurer revokes approval of the fund as the default fund for the employee.
(1) A term of office of a chairperson of the Board or an Employer director that commenced before the day on which the
State Superannuation Amendment Act 2024 section 21(2) comes into operation does not count towards the maximum period of service of the chairperson or Employer director.(2) A term of office of an elected director that commenced before the day on which the
State Superannuation Amendment Act 2024 section 22 comes into operation does not count towards the maximum period of service of the elected director.
The amendment of section 38 by the
At the beginning of Schedule 1 insert:
In this Schedule —
(1) In Schedule 1 clause 4(1) delete “chairman or is appointed under section 8(1)(b) to be a director” and insert:
chairperson or is appointed as an Employer director
(2) Delete Schedule 1 clause 4(2) and (3) and insert:
(2) A person appointed as chairperson or an Employer director is eligible (if otherwise qualified) for re‑appointment.
(3) The maximum period for which a person is eligible to serve as chairperson or an Employer director is 10 years.
(4) However, the Treasurer may appoint a person as chairperson or an Employer director for 1 term of office that exceeds the maximum period.
Note: The heading to amended Schedule 1 clause 4 is to read:
After Schedule 1 clause 4 insert:
(1) The term of office for which a Member director is elected is 3 years.
(2) A person elected as a Member director is eligible (if otherwise qualified) for re‑election.
(3) The maximum period for which a person is eligible to serve as a Member director is 3 terms.
(4) However, a person is eligible to serve a 4
th term as a Member director if the Treasurer permits the person to serve a 4th term under subsection (5).(5) The Treasurer may, by instrument in writing made at the request of the Board, permit a specified person to serve a 4
th term of office as a Member director.(6) The Treasurer must consult with unions or associations of unions that appear to the Treasurer to be broadly representative of persons who work for Employers before permitting a person to serve a 4
th term as a Member director.
(1) In Schedule 1 clause 6(3) delete “director elected under section 8(1)(c), the Treasurer may appoint a Member” and insert:
Member director, the Treasurer may appoint a person
(2) After Schedule 1 clause 6(4) insert:
(5) The term of office for which a Member director is appointed under subclause (3) to fill a casual vacancy does not count towards the maximum period for which the person is eligible to serve as a Member director.
After Schedule 1 clause 6 insert:
(1) The Treasurer may appoint a person to act in the office of an Employer director or Member director during any period, in the director’s term of office, in which the director is absent because of illness or on leave granted by the Board.
(2) Before appointing a person to act in the office of a Member director, the Treasurer must consult with unions or associations of unions that appear to the Treasurer to be broadly representative of persons who work for Employers.
(3) A person who is appointed to act in the office of an Employer director or Member director has all the functions of the director and is taken to be a director.
(4) An act or omission of a person appointed to act in the office of a director cannot be questioned on the grounds that the occasion for the appointment had not arisen or had ceased.
(5) A period in which a person acts in the office of an Employer director or Member director does not count towards the maximum period for which the person is eligible to serve as an Employer director or Member director.
In Schedule 1 clause 7 after “allowances” insert:
(if any)
In Schedule 2 clause 9(2):
(a) in paragraph (b) delete “Employer; or” and insert:
Employer or a non‑government contributor; or
(b) in paragraph (c) after “Employer” insert:
or a non‑government contributor
(c) in paragraph (c) delete “Employer; or” and insert:
Employer or a non‑government contributor; or
Note: The heading to amended Schedule 2 clause 9 is to read:
In the provisions listed in the Table:
(a) delete “chairman” and insert:
chairperson
(b) delete “chairman” (each occurrence) and insert:
chairperson
s. 8(1)(a) | Sch. 1 cl. 1(2) |
Sch. 1 cl. 2(1), (2), (3) and (4) | Sch. 2 cl. 3(a), (b) and (c) |
Notes: The heading to amended section 8 is to read:
The heading to amended Schedule 1 clause 1 is to read:
The heading to amended Schedule 1 clause 2 is to read:
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