Statutes Amendment and Repeal (Superannuation) Act 2012 (SA)
South Australia
An Act to amend the
This Act may be cited as the
Statutes Amendment and Repeal (Superannuation) Act 2012 .
This Act will come into operation on a day to be fixed by proclamation.
In this Act, a provision under a heading referring to the amendment of a specified Act amends the Act so specified.
4 Amendment of section 5 – Certain pensions not payable
Section 5(2)—delete subsection (2) and substitute:
(2) If, immediately before his or her appointment as a Judge, a Judge, to or in respect of whom a pension is not payable by virtue of subsection (1), was a contributor within the meaning of the
Superannuation Act 1988 , then despite anything in that Act, that Act applies to, and has effect in relation to, the Judge as if—
(a) he or she were an employee within the meaning of that Act; and
(b) his or her judicial service were service as such an employee; and
(c) he or she contributed, during the period of his or her judicial service, at the standard contribution rate within the meaning of that Act.
Section 16—delete the section
Section 17C, definition of
Southern State Superannuation Fund —delete "established under theSouthern State Superannuation Act 1994 " and substitute:continued in existence under the
Southern State Superannuation Act 2009
Section 17D—delete the section
Section 17G(2)(a)—delete "by applying that percentage split to the member spouse's interest under this Act based on the relevant accrued benefit multiple and by applying any relevant method or factor that applies under section 17E" and substitute:
in accordance with the Commonwealth regulations
Section 5(1)—after the definition of
additional salary insert:
approved form means a form approved by the Board;
Section 23C—delete the section
Section 23F(2)(a)—delete "by applying that percentage split to the member spouse's superannuation interest based on the relevant accrued benefit multiple and by applying any relevant method or factor that applies under section 23D" and substitute:
in accordance with the Commonwealth regulations
After section 45A insert:
45B—Unclaimed superannuation benefits
(1) If an amount of the Fund is attributable to an unclaimed superannuation benefit of a contributor, the Treasurer may, in accordance with the
Superannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth, pay an amount equal to the unpaid superannuation benefit, or any amount required to be paid under that Act on account of the unclaimed superannuation benefit, from the Consolidated Account to the Commissioner of Taxation.(2) The Treasurer must reimburse the Consolidated Account by charging the Fund with an amount equal to—
(a) the balance of the contributor's contribution account; and
(b) the balance (if any) of the contributor's co‑contribution account; and
(c) the balance (if any) of the contributor's rollover account.
(3) The Board must then close all accounts maintained by the Board in the name of the contributor, after which—
(a) he or she will cease to be a contributor; and
(b) his or her rights in relation to superannuation under this Act will be taken to have been exhausted and no derivative rights will exist in relation to him or her under this Act.
(4) In this section—
unclaimed superannuation benefit means an amount of money that is taken by Part 3 of theSuperannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth to be unclaimed money.
(1) Section 3(1), definition of
salary —delete "member other than" and substitute:member except
(2) Section 3(1), definition of
salary , (b)—delete paragraph (b) and substitute:
(b) an amount paid in lieu of—
(i) recreation leave; or
(ii) long service leave; or
(iii) any other kind of leave,
on the termination of the member's employment; or
(ba) an amount paid in respect of parental leave; or
(3) Section 3(1), definition of
salary —after paragraph (c) insert:or
(d) remuneration of a prescribed kind;
(1) Section 21—after subsection (3) insert:
(3a) Subsections (1) and (2) do not apply in relation to a person who is a member of a prescribed scheme (irrespective of whether the person is also a member of the Triple S scheme).
(3b) If an employer is not required to pay an amount in relation to a person under this section because the person is a member of a prescribed scheme, any payment the employer is required to make on behalf of the person under the Commonwealth Act must be made to the prescribed scheme.
(2) Section 21(5)—after the definition of
employer insert:
prescribed scheme means a superannuation fund or scheme prescribed by regulation for the purposes of this definition.
After section 23 insert:
23A—Unclaimed superannuation benefits
(1) If an amount of the Fund is attributable to an unclaimed superannuation benefit of a member or spouse member, the Treasurer may, in accordance with any relevant law of the Commonwealth, pay an amount equal to the unpaid superannuation benefit from the Consolidated Account to the Commissioner of Taxation.
(2) The Treasurer must reimburse the Consolidated Account by charging the Fund with the amount of the unclaimed superannuation benefit.
(3) The Board must then close all accounts maintained by the Board in the name of the member or spouse member, after which—
(a) he or she will cease to be a member or spouse member; and
(b) his or her rights in relation to superannuation under this Act will be taken to have been exhausted and no derivative rights will exist in relation to him or her under this Act.
(4) In this section—
unclaimed superannuation benefit means an amount of money that is taken by Part 3 of theSuperannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth to be unclaimed money.
(1) Section 30(7) and (8)—delete subsections (7) and (8)
(2) Section 30(12)—delete subsection (12)
Schedule 1—after clause 16 insert:
16A—Definition of salary If a member is on parental leave when paragraph (ba) of the definition of
salary in section 3(1) of this Act, inserted by theStatutes Amendment and Repeal (Superannuation) Act 2012 , comes into operation, an amount received by the member in respect of that period of leave pursuant to an enterprise agreement will, despite that paragraph, be taken to be salary for the purposes of this Act.
Part 6—Amendment of Subordinate Legislation Act 1978
18—Amendment of section 16A—Regulations to which this Part applies
(1) Section 16A(ab)—delete paragraph (ab) and substitute:
(ab) by‑laws made under the
Local Government Act 1934 ; and(2) Section 16A—after paragraph (eb) insert:
(ec) regulations under Schedule 1A clause 1(1) of the
Superannuation Act 1988 (including regulations in force when this paragraph comes into operation); and
(1) Section 4(1)—after the definition of
age of retirement insert:
approved form means a form approved by the Board;(2) Section 4(1)—after the definition of
the Scheme insert:
SIS Act means theSuperannuation Industry (Supervision) Act 1993 of the Commonwealth;(3) Section 4(1)—after the definition of
Triple S scheme insert:
unclaimed superannuation benefit means an amount of money that is taken by Part 3 of theSuperannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth to be unclaimed money.(4) Section 4(3)—delete "subsection (4)" and substitute:
this section
(5) Section 4(4)(a) and (b)—delete paragraphs (a) and (b) and substitute:
(a) before the commencement of subsection (4a)—
(i) there was a reduction in a contributor’s rate of salary (not being a reduction resulting from disciplinary action against the contributor or a reduction in the contributor's hours of employment); and
(ii) the contributor elected under this subsection to contribute as if the reduction had not occurred; and
(b) after the commencement of subsection (4a), the contributor elects, in a manner approved by the Board, to have his or her contributions determined under this subsection,
(6) Section 4—after subsection (4) insert:
(4a) If (whether before or after the commencement of this subsection) there has been a reduction in a contributor’s rate of salary (not being a reduction resulting from disciplinary action against the contributor or a reduction in the contributor's hours of employment) and—
(a) the contributor—
(i) elected, before the commencement of this subsection, to contribute as if the reduction had not occurred; and
(ii) has not made an election under subsection (4)(b); or
(b) the contributor elects, in a manner approved by the Board, to contribute as if the reduction had not occurred,
then the following provisions apply:
(c) the contributor's contributions will be based on his or her notional contribution salary;
(d) the contributor’s actual or attributed salary as at a particular date will be determined as if his or her notional contribution salary on that date were the contributor’s actual salary.
(4b) For the purposes of subsection (4a), a contributor's
notional contribution salary is—
(a) the salary of the position or office held by the contributor immediately before the reduction occurred; or
(b) if that position or office ceases to exist or the classification of the position or office is changed—the salary of that position or office immediately before it ceased to exist or its classification was changed (adjusted if any increase occurs in the rate of salary payable in respect of the contributor's position or office by a percentage equal to the percentage that the increase bears to that salary).
(4c) The fixing of a contributor's contributions in relation to a financial year under section 23(4)(a) following a reduction in a contributor’s rate of salary will be based on the contributor's notional contribution salary pursuant to an election under subsection (4a) only if the contributor made the election under that subsection on or before the 31 March last preceding the commencement of the financial year.
(1) Section 8(1)(b)—delete paragraph (b) and substitute:
(b) 2 members elected by—
(i) the contributors; and
(ii) the members and spouse members of the Triple S scheme; and
(iii) persons provided with investment services or other products or services pursuant to regulations under section 30(2)(g) of the
Southern State Superannuation Act 2009 ; and(2) Section 8(2)—delete ", the
Superannuation (Benefit Scheme) Act 1992 or theSouthern State Superannuation Act 1994 " and substitute:or the
Southern State Superannuation Act 2009
Section 9—after subsection (4a) insert:
(4b) A proposed resolution of the Board becomes a valid decision of the Board despite the fact that it is not voted on at a meeting of the Board if—
(a) notice of the proposed resolution is given to all members in accordance with procedures determined by the Board; and
(b) a majority of the members express concurrence in the proposed resolution by letter, telegram, telex, fax, email or other written communication setting out the terms of the resolution.
Section 43AC, definition of
SIS Act —delete the definition
After section 50 insert:
50A—Unclaimed superannuation benefits
(1) If an amount of the Fund is attributable to an unclaimed superannuation benefit of a contributor, the Treasurer may, in accordance with the
Superannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth, pay an amount equal to the unpaid superannuation benefit, or any amount required to be paid under that Act on account of the unclaimed superannuation benefit, from the Consolidated Account to the Commissioner of Taxation.(2) The Treasurer must reimburse the Consolidated Account by charging the Fund with an amount equal to—
(a) the balance of the contributor's contribution account; and
(b) the balance (if any) of the contributor's co‑contribution account; and
(c) the balance (if any) of the contributor's rollover account.
(3) The Board must then close all accounts maintained by the Board in the name of the contributor, after which—
(a) he or she will cease to be a contributor; and
(b) his or her rights in relation to superannuation under this Act will be taken to have been exhausted and no derivative rights will exist in relation to him or her under this Act.
Section 59(1a)—before paragraph (a) insert:
(aa) set out the procedures for the election of a member of the Board (including procedures that determine eligibility to vote in the election);
(1) Schedule 3, clause 4(1)—delete "clause 2" and substitute:
clause 2(1)(c)
(2) Schedule 3, clause 4(2)—delete "established for the purposes of the administered scheme"
(3) Schedule 3, clause 5—delete clause 5 and substitute:
5—Management and establishment of funds
(1) If a declaration is made under clause 2(1)(c), the Superannuation Funds Management Corporation of South Australia may, depending on arrangements determined or approved by the Minister and the other requirements of this Schedule—
(a) assume the management of an existing fund (and make investments accordingly); or
(b) establish a fund for the purposes of the administered scheme (and invest assets of the relevant scheme transferred to or held by the Corporation for the purposes of management by the Corporation).
(2) The assets of an administered scheme that is subject to a declaration under clause 2(1)(c) will be invested, managed and held for the benefit of that scheme and will not belong to the Crown.
(3) Subject to the following subclauses, the Corporation may enter into transactions affecting any assets held in a fund under subclause (1)(a) or (b)—
(a) for the purposes of investment; or
(b) for purposes incidental, ancillary or otherwise related to investment.
(4) The Corporation must consult with the trustee of the relevant superannuation scheme to determine the risk/return objectives and strategic asset allocation policies to be adopted with respect to the management and investment of the fund.
(5) Subject to subclause (6), the trustee of the scheme will be ultimately responsible for setting the risk/return objectives and the Corporation will be ultimately responsible for determining the strategic asset allocation policies.
(6) If a disagreement arises between the trustee and the Corporation with respect to the investment of the fund, the matter must be referred to the Treasurer and a decision of the Treasurer will determine the matter (and will have effect according to its terms).
(7) If the assets of a superannuation scheme are being managed under this Schedule, then, subject to any other arrangements under the rules of the scheme or approved by the trustee of the scheme—
(a) Super SA must pay to the credit of the fund maintained for the purposes of the scheme all contributions received by Super SA for the purposes of the scheme; and
(b) all interest and accretions arising from the investment of the assets of the scheme must be paid into a fund managed or established under this Schedule for the benefit of the scheme; and
(c) all benefits under the scheme will be paid from a fund managed or established under this Schedule for the benefit of the scheme.
(8) The Corporation may pay from a fund managed by the Corporation under this Schedule—
(a) administrative costs and other expenses related to the management and investment activities of the Corporation in connection with the fund; and
(b) if relevant, administrative charges payable under clause 11; and
(c) any other amount payable in connection with the management or operation of the relevant superannuation scheme determined to be payable from the fund pursuant to the rules of the scheme or a determination of the trustee of the scheme.
(9) The Corporation must determine the value of a fund managed under this clause as at the end of each financial year.
(4) Schedule 3, clause 6(1)(a)—delete "established" and substitute:
managed by the Corporation
(5) Schedule 3, clause 10(2)(b)—delete "in existence" and substitute:
managed
(6) Schedule 3—after clause 12 insert:
12A—Unclaimed superannuation benefits If an amount of a superannuation fund of an administered scheme is attributable to an unclaimed superannuation benefit, the trustees of the scheme may, in accordance with the
Superannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth, pay an amount equal to the unpaid superannuation benefit, or any amount required to be paid under that Act on account of the unclaimed superannuation benefit, from the fund to the Commissioner of Taxation.
Part 8—Amendment of Superannuation Funds Management Corporation of South Australia Act 1995
(1) Section 3(1), definition of
contributor , (b)—after "member" insert:or spouse member
(2) Section 3(1), definition of
contributor —after paragraph (b) insert:or
(c) a person provided with investment services or other products or services pursuant to regulations under section 30(2)(g) of the
Southern State Superannuation Act 2009 ;
27—Amendment of section 10—Conditions of membership Section 10(5)—delete "South Australian Institute of Teachers" and substitute:
Australian Education Union (S.A. Branch)
28—Amendment of section 20B—Other performance plans Section 20B(1)—delete "established" and substitute:
managed
Section 39(2)(b)—after "board" insert:
(including procedures that determine eligibility to vote in the election)
Part 9—Repeal of Unclaimed Superannuation Benefits Act 1997
The
Unclaimed Superannuation Benefits Act 1997 is repealed.
1—Superannuation Act and Superannuation Funds Management Corporation of South Australia Act
(1) Regulations made under the
Superannuation Act 1988 or theSuperannuation Funds Management Corporation of South Australia Act 1995 before the commencement of this clause are to be read as if the amendments to the regulation making powers under those Acts effected by this Act had been in force when the regulations were made.(2) The person holding the office of elected member of the South Australian Superannuation Board pursuant to section 8(1)(b) of the
Superannuation Act 1988 (theprincipal Act ) immediately before the commencement of section 20 of this Act will, despite the amendments effected by that section, continue to hold office for the balance of his or her term of election (subject to any provision of the principal Act relating to the conditions of his or her office).(3) The person holding the office of elected member of the board of directors of the Superannuation Funds Management Corporation of South Australia pursuant to section 9(2)(a) of the
Superannuation Funds Management Corporation of South Australia Act 1995 (theprincipal Act ) immediately before the commencement of section 26 of this Act will, despite the amendments effected by that section, continue to hold office for the balance of his or her term of election (subject to any provision of the principal Act relating to the conditions of his or her office).
(1) If—
(a) an unclaimed superannuation benefit has been paid to the Treasurer by the superannuation provider of a fund under the
Unclaimed Superannuation Benefits Act 1997 (therepealed Act ); and(b) an amount equal to the amount of that unclaimed superannuation benefit (less any amount refunded to the superannuation provider under section 7 of the repealed Act) has not, before the repeal of the repealed Act by this Act, been paid to any person,
the Treasurer must, within 1 month of the commencement of this clause—
(c) pay an amount equal to the amount of the unclaimed superannuation benefit to the Commissioner of Taxation; and
(d) provide the Commissioner of Taxation with all information relating to the unclaimed superannuation benefit kept in the register of unclaimed superannuation benefits under section 8 of the repealed Act.
(2) The Consolidated Account is appropriated to the extent necessary for the purposes of this clause.
(3) In this clause—
superannuation provider has the same meaning as in theSuperannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth;
unclaimed superannuation benefit means an amount of money that is taken by Part 3 of theSuperannuation (Unclaimed Money and Lost Members) Act 1999 of the Commonwealth to be unclaimed money.
Schedule 2—Statute law revision amendment of Superannuation Act 1988
Section 4(1),
definition of | Delete "the Institute" and substitute:
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Section 4(1),
definition of | Delete "where" wherever occurring and substitute in each case:
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Section 4(1),
definition of | Delete "the" from the defined term |
Section 4(1),
definition of | Delete "the" from the defined term |
Section 4(1),
definition of | Delete "the" from the defined term |
Section 4(1),
definition of | Delete
"
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Section 4(1),
definition of | Delete "TransAdelaide" and substitute:
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Section 4(1),
definition of | Delete "— the South Australian Health Commission" |
Section 4(1),
definition of | Delete "Chief Executive Officer" and substitute:
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Section 4(1),
definition of | Delete "the" from the defined term |
Section 4(1),
definition of | Delete "SIS Act" and substitute:
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Section 4(1),
definition of | Delete "upon" and substitute:
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Section 4(1),
definition of | Delete "the" from the defined term |
Section 4(1),
definition of | Delete "to" from the defined term and second occurring in the definition |
Section 4(1),
definition of | Delete "the" from the defined term |
Section 4(1),
definition of | Delete
"established under the
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Section 4(1),
definition of | Delete "the" from each defined term |
Section 4(1),
definition of | Delete
"established by the
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Section 4(2) | Delete "Where" and substitute:
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Section 4(3)(a) | Delete "where" and substitute:
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Section 4(5) | Delete "Where" first occurring and substitute:
Delete ", if" and substitute:
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Section 4(6)(b) | Delete "where" and substitute:
After "expires" insert:
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Section 4A(1)(b) | Delete "where" and substitute:
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Section 5(2a) | Delete "Where" and substitute:
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Section 6(3) | Delete "any" |
Section 6(4) | Delete "Where" and substitute:
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Section 8(7) | Delete "South Australian Institute of Teachers" and substitute:
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Section 9(2) | Delete "notwithstanding" and substitute:
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Section 17(7)(c) | Delete "in pursuance of" and substitute:
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Section 20A(2) | Delete "in pursuance of" and substitute:
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Section 20A(5) | Delete "Where, in pursuance of" and substitute:
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Section 20A(6) | Delete "Where" and substitute:
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Section 20ABA(d)(ii) | Delete
"section 14 of the
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Section 20B(1) | Delete "Any" and substitute:
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Section 20B(2) | Delete "in pursuance of" and substitute:
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Section 22(5) | Delete "any such condition prevails to the extent of any inconsistency with any provision of this Act" and substitute:
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Section 22(13)(a) | Delete "Southern State Superannuation Scheme established by the Southern State Superannuation Act 1994" and substitute:
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Section 22(13)(b) | Delete "Southern State Superannuation Scheme" and substitute:
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Section 23(3a) | Delete "Where" and substitute:
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Section 23(6a) | Delete "Where" and substitute:
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Section 24(3) | Delete "where" and substitute:
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Section 28(1c), (2) and (5) | Delete "Where" wherever occurring and substitute in each case:
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Section 28(4),
definition of | Delete "where" and substitute:
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Section 28B(4) | Delete "Where" and substitute:
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Section 28C(4) and (5) | Delete "Where" wherever occurring and substitute in each case:
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Section 29(1), (4) and (5) | Delete "Where" wherever occurring and substitute in each case:
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Section 30A(1) | Delete "Where" and substitute:
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Section 31(2),
definition of | Delete "where" wherever occurring and substitute in each case:
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Section 31(4) | Delete "Notwithstanding" and substitute:
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Section 32(1) | Delete "Where" and substitute:
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Section 32(2)(b)(ii),
definitions of | Delete "where" wherever occurring and substitute in each case:
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Section 32(3)(a) and (b) | Delete "where" wherever occurring and substitute in each case:
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Section 32(3a)(a) | Delete "where" wherever occurring and substitute in each case:
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Section 32(3a)(b),
definition of | Delete "where" and substitute:
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Section 32A(2), (3), (7) and (8) | Delete "Where" wherever occurring and substitute in each case:
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Section 35(1) and (4) | Delete "Where" wherever occurring and substitute in each case:
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Section 36A(1) | Delete "Where" and substitute:
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Section 37(5) | Delete "Notwithstanding" and substitute:
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Section 38(1) | Delete "Where a contributor dies—" and substitute:
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Section 38(2)(a) and (b) | Delete "where" wherever occurring and substitute in each case:
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Section 38(4) | Delete "where" wherever occurring and substitute in each case:
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Section 38(6)(a) | Delete "where" and substitute:
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Section 38(7) | Delete "Where" and substitute:
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Section 39(1c), (2), (5), and (8) | Delete "Where" wherever occurring and substitute in each case:
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Section 39(7a),
definition of | Delete "the" from the defined term |
Section 39B(4) and (5) | Delete "Where" wherever occurring and substitute in each case:
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Section 39C(4) and (7) | Delete "Where" wherever occurring and substitute in each case:
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Section 40A(3) | Delete "Where" and substitute:
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Section 43 | Delete "Where" and substitute:
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Section 43AN(2) | Delete "where" wherever occurring and substitute in each case:
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Section 43B(1) | Delete
"
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Section 43B(2) | Delete
"
Delete "that date" and substitute:
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Section 45(1), (2), (3), (4), (5) and (6) | Delete "Where" wherever occurring and substitute in each case:
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Section 46(2) and (5) | Delete "Where" wherever occurring and substitute in each case:
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Section 47(1) | Delete "Where" and substitute:
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Section 48(1), (2) and (3) | Delete "Where" wherever occurring and substitute in each case:
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Section 49(1) and (2) | Delete "Where" wherever occurring and substitute in each case:
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Section 54(5) | Delete "Where" and substitute:
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Section 57 | Delete the section |
Section 58(1) | Delete "Where" and substitute:
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Section 59(1a)(b) | Delete "where" and substitute:
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Section 59(2) | Delete "Any such" and substitute:
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Schedule 1A, clause 1 | Insert the following heading to the clause:
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Schedule 1A, clause 1(1)(c) | Delete "upon" and substitute:
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Schedule 1A, clause 2 | Insert the following heading to the clause:
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Schedule 1A, clause 2(1) | Delete "Where" and substitute:
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Schedule 1A, clause 3 | Insert the following heading to the clause:
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Schedule 1B, clause 1, defined terms | Delete "the" from the defined terms wherever occurring |
Schedule 1B, clause 2(3)(e) and (f) | Delete "where" wherever occurring and substitute in each case:
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Schedule 1B, clause 2(4) | Delete "Where" and substitute:
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Schedule 1B, clause 3(3) | Delete "in pursuance of" and substitute:
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Schedule 1B, clause 3(5)(e) and (f) | Delete "where" wherever occurring and substitute in each case:
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Schedule 1B, clause 3(6) | Delete "Where" and substitute:
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Schedule 1B, clause 4(7) | Delete "Where" and substitute:
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Schedule 1B, clause 4(7)(b) | Delete "where" wherever occurring and substitute in each case:
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Schedule 1B, clause 4(9) | Delete "where" and substitute:
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Schedule 3, clause 4(1) | Delete "Where" and substitute:
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