Superannuation (Amendment) Act 1930 (NSW)
SUPERANNUATION
(AMENDMENT) ACT.
Act No. 31, 1930.
| George V. | An Act to provide for the payment of certain sums |
| ■ | _L_ ■ | of money to the State Superannuation Fund by certain employers in lieu of the contributions required to be paid by them under the Superannuation Acts, .1916-1928; for this and other purposes to amend the said A cts; and for purposes connected therewith, [Assented to, 23rd June, 1930.] |
BE
| Superannuation (Amendment) Act. | 4 j7 |
T ) E it enacted by tlie K in g ’s M ost Excellent M ajesty , _ U by and w ith th e advice and consent of th e L egis lative Council and Legislative A ssem bly of N ew South W ales in P arliam en t assembled, and by the au th o rity of th e same, as follows :—
| 1 . (1) This Act may ho cited as the | Superannua- short, title |
| tin<l | c ita tion . |
tion (Amendment) Act, 1930.”
(2) This Act shall be read with tlie Superannua tion Acts, 1916-1928, in this Act referred to as the Principal Act.
(3) The Principal Act, as amended by this Act,
may be cited as the Superannuation Act, 1916-1930.
2 . (1) Tne following provisions shall have effectlA'i'ientsto
where the Government of New South Wales, or the.!)!",aj'7
Sydney Ilarbour Trust Commissioners, or the Water empioyeis.
| Conservation and Irrigation Commission is the employer | , |
| within the meaning of the Principal A c t:— |
(a) (i) In respect of each unit or portion of a unit of pension paid from the fund on the basis of a contribution corresponding to the rate prescribed for the age of the employee at the date upon which he commenced to pay the contribution, a sum equal to one-half of the payment so made from the fund shall be paid by the employer to the fund.
(ii) In respect of each unit or portion of a unit of pension paid from the fund on the basis of a contribution corresponding to the rate prescribed for an age younger than that of the employee at the date upon which he commenced to pay the contribution, a sum ascertained in the manner provided in this paragraph shall be paid by the employer to the fund.
^iii) To determine the sum payable in eaeh case by the employer under this paragraph, the rate of contribution actually payable by tlie employee shall be subtracted from twice the rate prescribed for the age of the em ployee at the date upon which he com menced to pay the contribution, and the ratio of this dilference to twice the rate so prescribed shall be computed. This ratio,
shall
453 Superannuation (Amendment) Act.
| No. 31, 1930. |
sliall represent tlie fraction of the pension payment so made from the fund to be paid by the employer to the fund.
(iv) Where a pension calculated in accordance ■with this Act is less than the prescribed minimum, and where the Act prescribes that tlie prescribed minimum shall be paid, the amount necessary to bring the pension up to the minimum shall he paid by the employer to the fund in addition to the sums payable by the employerunder sub paragraphs (i),(ii), (iii) of this paragraph,
| (b) | Where on retrenchment a contributor chooses a lump sum payment as described in paragraph (a) of section thirty-seven of the Principal Act, the employer shall pav to the fund a sum equal to the amount by wiiich the contributor’s con tributions to the fund exceed the contributions actually paid to the fund by the employer in respect of such contributor. |
| (2) | In the application of subsection one of section |
thirty-seven of the Principal Act to an employee of the Government of New South Wales or the Sydney Harbour Trust Commissioners or the Water Conservation and Irrigation Commission, the said subsection shall be read as if paragraph (b) wore omitted, and the following paragraph inserted in lieu thereof :—
| (b) | a pension which shall he the actuarial equiva lent of the contributions paid by him, and the contributions which would have been paid in respect of him if the Superannuation (Amend ment) Act, 1930, had not been enacted. |
(3) Any payment required to be made to the fund under this section shall, where the employer is the Government of New South Wales ^or the AV̂ atcr Conservation and Irrigation Commission, be paid from Consolidated Hevenue, and where the employer is the Sydney Harbour Trust Commissioners, be paid from the Sydney Harbour Trust Fund.
(4) No contribution or other sum shall be payable to the fund in pursuance of section sixteen or section seventeen of the Principal Act by any employer re ferred to in subsection one of this section.
(5)
| Superannuation (Amendment) Act. | 459 |
. No. 31, 1930.
(5) The provisions of the Principal Act and of the agreement entered into on the fifteenth day of December, one thousand nine hundred and tiventy-five, between the Government of New South AVales and the State Superannuation Board shall, to the extent to which they arc inconsistent with the provisions of this section, cease to have effect.
(6) This section shall be deemed to have com menced on the first day of July, one thousand nine hundred and twenty-nine.
| 3 . The Principal Act is amended— | Aintn.i.mui..f |
| (a) | by inscrtmg at the end oi subsection one | |
|
Provided further that if a person of or above J'™"'
the age of fifty years becomes a contributor byemtah/''
reason of the provisions of the Superannuation
(Amendment) Act, 1928, or after the com
mencement of that x\ct enters the service of an
employer as an employee, the Board may, on
his application, exempt him from contributing
to the fund.
In the case of a person who is a contributor at the date upon which His Majesty’s Assent to the Superannuation (Amendment) Act, 1930, is signified, the application shall be made within three months after such date; and if the exemption is granted, the applicant shall be entitled to a refund of an amount equal to the contributions (if any) paid by him to the fund.
In the case of a person who at any time after the date upon Avhich Ilis Alajesty’s Assent to the Superannuation (Amendment Act, 1930, is signified, becomes a contributor by reason of the provisions of the Superannuation (Amend ment) Act, 19'i8, or enters the service of an einployer as an employee, the application shall he made within three months after the date upon Avhich ho so becomes a contributor or enters such service, as the case may be.
AVhere a person is so exempted neither ho nor any other person claiming through him shall he entitled to any benefit under this Act, other than the refund, if any, referred to in this
| subsection. | (b) |
460 Superannuation (Amendment) Act.
| No. 31, 1930. |
(b) by inserting next after section thirty-four the
| New s. 34a. | following new section ;— |
| Certain |
| employees | 34a. (1) An employee of the Government |
| over sixty. | of New South Wales who, at the date upon wliicb Ilis Majesty’s Assent is signified to the Superannualion (Amendment) Act, 1930,— |
(a) is over tlie age of sixty years ;
| (b) | has served in a department or depart ments for periods aggregating in all twenty years at the least; and |
| (c) | is not entitled to any pension under the Civil Service Acts or this Act, |
shall be entitled on retirement to a pension under this Act in accordance with salary as set out in section twelve, but not exceeding four units or one hundred and four pounds
| ' | per annum, without paying any contribution to the fund. |
| (2; Every such pension shall carry widows’ and children’s benefits as elsewhere in this Act provided. |
| (■̂ ) | Where | an | employee | becomes |
eligible under subsection one of this section to receive a pension upon retirement, but dies prior to his retirement, his widow and children shall become entitled to the widows’ and children’s benefits as elsewhere in this Act proAuded, as if the employee had retired upon a pension under this Act or upon account of his age, on the day immediately preceding the day of his death.
| (4) | Any pensions or benefits under |
this section shall be paid from the Consolidated Kevenue Fund, but no ])cnsion or benefit shall be payable in lespect of any period prior to the date upon which His Majesty’s Assent is signified to the Superannuation (Amend ment) Act, 1930.
SYDNEY
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