Superannuation (Amendment) Act 1948 (NSW)
SUPERANNUATION (AMENDMENT) ACT.
Act No. 9, 1948.
An Act to increase the amount payable by way of pension to employees under the Superannuation Act, 1916, as amended by subsequent Acts; to extend the scale of pension units in respect of which contributions may be made; to make certain provisions in relation to the State Superannuation Fund; for these and other purposes to amend the said Act, as so amended, the Superannuation (Amendment) Act, 1930, and certain other Acts; to validate certain matters; and for purposes connected therewith. [Assented to, 30th April, 1948.]
BE it enacted by the King's Most Excellent Majesty, lative Council and Legislative Assembly of New South b y and with the advice and consent of the Legis Wales in Par l iament assembled, and by the au thor i ty of the same, as follows :— one thousand nine hundred and forty-eight.
1 . (1) This Act may be cited as the " S u p e r a n n u a t i o n (Amendment ) Act, 1948."
(2) This Act shall be read and construed with the Superannua t ion Act, 1916, as amended by subsequent Acts , in this Act re fer red to as the Pr inc ipa l Act.
(3) The Pr inc ipa l Act, as amended by this Act,
may be cited as the Superannua t ion Act, 1916-1948.
(4) This Act shall, except where otherwise ex
press ly provided, commence upon the first day of July,2. (1) The Pr inc ipa l Act is amended—
(a)
by omitting the scale set out in section twelve a n d by inser t ing in lieu thereof the following scale:—
Where the salary of the The employee shall contribute the
employee is equivalent amount necessary to provide to the annual rate of— units of pension as under—
£ £ £ s. d.
From 1 to 130 inclusive Two units, or 65 0 0
„ 131 to 208 Three units, or 97 10 0 „ 209 to 260 Four units, or 130 0 0
„ 261 to 312 „ Five units, or 162 10 0 „ 313 to 364 Six units, or 195 0 0 „ 365 to 416 Seven units, or 227 10 0 „ 417 to 468 Eight units, or 260 0 0 „ 469 to 520 Nine units, or 292 10 0 „ 521 to 572 Ten units, or 325 0 0 „ 573 to 624 Eleven units, or 357 10 0 „ 625 and over Twelve units, or 390 0 0
(b) by inserting next after section 17A the following new section:— 17B. (1) W h e r e any pension is payable under this Act to a pensioner or to the widow of a deceased pensioner or contr ibutor the employer in whose service such pensioner or deceased pensioner was employed a t the da te of his re t i rement or re t renchment or in whose service such contr ibutor was employed a t the date of his death, shall pay to the fund a t monthly or such other intervals as m a y be determined by the Boa rd and on the requisi t ion of the Board
one-fifth of the amount of such pension.
This subsection shall not apply in respect of of section th i r ty or p a r a g r a p h (b) of section thir ty-one or section th i r ty- three of this Act in respect of the children of a deceased pensioner or contr ibutor or of the children of the widow or deceased wife of a deceased pensioner or contr ibutor nor to any pension wholly payable out of the Consolidated Revenue F u n d or the funds of the employer nor to any pension wholly
a
pension payable p u r s u a n t to p a r a g r a p h (b)
payable
payable out of the fund and in respect of which paymen t s are repaid to the fund from the Con solidated Revenue F u n d or by the employer.
(2) Any amount payable under this
section shall be in addi t ion to any contr ibut ion or other payment which the employer may be required to make to the fund under this Act or unde r the Superannua t ion (Amendment ) Act , 1930, as amended by subsequent Acts .
(c) by omitting from subsection one of section
twenty-six the words " twen ty - s ix p o u n d s " and
by inser t ing in lieu thereof the words " t h i r t y -
two pounds ten sh i l l i ngs " ; (d)
by omitting the scale set out in subsection one of section twenty-seven and by inser t ing in lieu thereof the following scale:—
Where the contributor at retire His pension shall be at the
ment was contributing for— annual rate of—
£ s. d.
Two units 05 0 0 Two and a half units 81 5 0 Three units 97 10 0 Four units 130 0 0 Five units 1G2 10 0 Six units 195 0 0 Seven units 227 10 0 Eight units 200 0 0 Nine units 292 10 0 Ten units 325 0 0 Eleven units 357 10 0 Twelve units 390 0 0
(e) by omit t ing from section 28A the ma t t e r appea r ing under the headings " A g e las t b i r t h d a y " and " V a l u e of Uni t of P e n s i o n " and by inser t ing in lieu thereof the following
m a t t e r : — s. d £
55 19 7 6
56 21 0 0
57 23 2 6
58 25 15 0
59 28 17 6
60 32 10 0
(f)
(f) by omit t ing from p a r a g r a p h (a) of section th i r ty-one the words " twen ty - s ix p o u n d s " and
by inser t ing in lieu thereof the words " t h i r t y -
two pounds ten s h i l l i n g s " ;
(g) by omitting from section thirty-four the words " o n e hundred and f o u r " wherever occurr ing and by inser t ing in lieu thereof the words " o n e
hundred and t h i r t y " ; (h) by omitting from subsection one of section 34A the words " o n e hundred and f o u r " and by inser t ing in lieu thereof the words " o n e hundred
and t h i r t y " ; (i) by omitting from section thirty-five the words " o n e hundred and f o u r " wherever occurring and by inser t ing in lieu thereof the words " o n e
hundred and t h i r t y " ; (J) (i) by omit t ing from Schedule I the word "Half-
c o s t " wherever occurr ing and by inser t ing in lieu thereof the words "Two-fif ths c o s t " ; (ii) by omitting from the same Schedule the symbol and figures " £ 5 2 " wherever occurr ing and by inser t ing in lieu thereof
the symbol and figures " £ 6 5 " ; (iii) by omitting from the same Schedule the symbol and figures " £ 2 6 " wherever occurr ing and by inser t ing in lieu thereof the symbols and figures "£32 1 0 s . " ;
(k) (i) by omit t ing from Schedule I V the symbol
by inser t ing in lieu thereof the symbol and and figures " £ 5 2 " wherever occurr ing and
figures " £ 6 5 " ; (ii) by omitting from the same Schedule the symbol and figures " £ 2 6 " wherever occurr ing and by inser t ing in lieu thereof
the symbols and figures " £ 3 2 1 0 s . "
(2) The Superannua t ion (Amendment) Act, 1930, a s amended by subsequent Acts, is amended—
(a) by omit t ing from s u b p a r a g r a p h (i) of
p a r a g r a p h (a) of subsection one of section two
the word " o n e - h a l f " and by inser t ing in lieu thereof the word " two- f i f t h s " ; (b)
(b) by omit t ing from s u b p a r a g r a p h (iii) of the same p a r a g r a p h the words " T h i s r a t i o " and by inser t ing in lieu thereof the words ' ' Four-fifths
of this r a t i o " ;
(c) (i) by inser t ing in s u b p a r a g r a p h (iv) of the
same p a r a g r a p h af ter the words " i s less
t h a n " the words "four-fif ths of" ;
(ii) by inser t ing in the same s u b p a r a g r a p h af ter
the words " u p t o " the words "four-fif ths o f" ;
(d) by inser t ing next af ter the same p a r a g r a p h the following new p a r a g r a p h : —
(aa) I n respect of any chi ld 's pension (to the extent of th i r teen pounds pe r
annum)
payable p u r s u a n t to p a r a g r a p h (b) of section
t h i r t y or p a r a g r a p h (b) of section thir ty-one or section th i r ty- three of the Pr inc ipa l Act, the employer shall pay , and shall be deemed always to have been liable to pay, to the fund the same fraction of such pension as would have been applicable in the case of a pension payable to the fa ther or s tepfa ther of such child had the amendments made by p a r a g r a p h s ( a ) , (b) and (c) of subsection two of section two of the Superannua t ion (Amendment) Act, 1948, to
p a r a g r a p h (a) of this subsection not been enacted.
(3) W h e r e any pension, other than a pension pay able in respect of a child or a pension increased by the operat ion of the amendments made by subsection one of this section, is a t the commencement of this section,
payable to, or af ter such commencement becomes payable to, any person under the P r inc ipa l Act such pension shall, as from such commencement or as from the da te upon which such pe r son becomes enti t led to such pension, as the case may be, be increased by one-quar ter and any reference in the Pr inc ipa l Act to any such pen sion shall be read and construed as a reference to such pension as so increased.
(4) (a) This section shall be deemed to have com menced upon the first day of Apr i l , one thousand nine hundred and forty-eight.
(b)
(b) The amendments made by subsection one of this section shall apply to and in respect of pensions which a re payable a t the commencement of this section as well as to and in respect of pensions which become payable af ter such commencement ; but, in the case of pensions which a re payable a t such commencement, the increased r a t e s shall app ly only as from such commencement.
| 3 . The P r inc ipa l Act is fur ther | amended— |
(a) (i) by omit t ing from the scale set out in section twelve, as amended by p a r a g r a p h (a) of subsection one of section two of this Act, the words , figures and symbols " „ 625 and over . . . Twelve uni ts , or 390 0 0 " and by inser t ing in lieu thereof the following- words , figures and symbols :—
„ 625 to 676 „ Twelve units, or . . 390 0 0
„ 677 to 728 „ Thirteen units, or . . 422 10 0 „ 729 to 780 „ Fourteen units, or . . 455 0 0 „ 781 to 832 „
Fifteen units, or . . 4S7 10 0 „ 833 to 884 „
Sixteen units, or . . 520 0 0 „ 885 to 936 „ Seventeen units, or . . 552 10 0 „ 937 to 988 „ Eighteen units, or . . 585 0 0
„ 989 to 1,040 „ Nineteen units, or . . 617 10 0 „ 1,041 to 1,144 „ Twenty units, or . . 650 0 0
„ 1,145 to 1,248 „ Twenty-one units, or 682 10 0 „ 1,249 to 1,352 „ Twenty-two units, or 715 0 0 „ 1,353 to 1,456 „ Twenty-three units, or 747 10 0 „ 1,457 to 1,560 „ Twenty-four units, or 780 0 0 „ 1,561 to 1,664 „ Twenty-five units, or 812 10 0 „ 1,665 and over Twenty-six units, or 845 0 0 (ii) by inserting in subparagraph (i) of para g r a p h (b) of the proviso to the same section af ter the words " s u c h s c a l e " the words " o r in the case of an employee under the age of for ty years contr ibut ing in respect of twelve uni ts of pension immediately before the commencement of the Super annuat ion (Amendment) Act, 1948, his sa la ry is, on or af ter such commencement,
so i n c r e a s e d " ; (i i i)
(iii) by inser t ing in the same s u b p a r a g r a p h
af ter the words " i n c r e a s e of s a l a r y " the words—
" W h e r e a t the da te of commencement of the Supe rannua t ion (Amendment) Act, 1948, the actual sa la ry of a n employee is in excess of the annual ra te of six hundred and seventy-six pounds his sa la ry shall, for the pu r poses of this subpa rag raph , be deemed to have been increased on tha t da te from tha t r a t e to t ha t actual sa la ry and tha t actual sa la ry shall, for the purposes of s u b p a r a g r a p h (iii) of this p a r a g r a p h and of p a r a g r a p h (h) of this proviso, be deemed to have been
actually paid on t ha t d a t e . "
(b)
by inserting at the end of the scale in sub section one of section twenty-seven, as amended by p a r a g r a p h (d) of subsection one of section two of this Act, the following words a n d f igures:—
Thi r teen uni ts 422 10 0 Four t een uni t s 455 0 0 Fif teen uni ts 487 10 0 Sixteen uni t s 520 0 0 Seventeen uni ts 552 10 0
E ighteen uni t s 585 0 0 Nineteen uni t s 617 10 0
Twenty uni t s 650 0 0
Twenty-one uni ts . . 682 10 0 Twenty-two uni ts . . 715 0 0
Twenty- three uni ts . . 747 10 0
Twenty-four uni ts . . 780 0 0
Twenty-five uni ts . . 812 10 0 Twenty-six uni t s 845 0 0
4 . (1) The Pr inc ipa l Act is fur ther amended—
(a ) by inser t ing next af ter p a r a g r a p h (b) of
section five the following new p a r a g r a p h : — (b l ) in the manner author ised by section
5A of this Ac t ;
(b) by inserting next after section five the following
new sect ion:— 5A. (1) The fund or any p a r t thereof, whether a t the t ime in a s ta te of investment or not. may be invested by the Board in—
(a) the debentures or debenture stock or the preference stock or shares of any company incorporated under the law of a n y Sta te of the Commonwealth, being a company which has pa id dividends upon its o rd ina ry capi tal at the r a t e of a t least three per centum per annum for a t least the five yea r s next before the t ime of investment (of which fact a le t ter p u r p o r t i n g to be signed by the secre tary of the company or by the manager of a bank shall be sufficient
evidence) ; or (b) the ordinary or other stock or shares of any company incorpora ted as aforesaid, being a company which has paid dividends upon its o rd ina ry
capi ta l at the r a t e of a t least four pe r centum per annum for a t least the ten years next before the t ime of investment (of which fact such a le t ter as aforesaid shall be sufficient ev idence) :
Prov ided tha t the power conferred by this
subsection shall not extend to any stocks, shareso r securit ies subject to any l iabil i ty for calls or
o the r p a y m e n t s : Provided fur ther tha t the Boa rd shall not a t
any t ime make any investment pu r suan t to thissubsection where the total amount of the moneys
B p roposed proposed to be invested and of other moneys a t such t ime invested by the B o a r d p u r s u a n t t o this subsection would exceed one qua r t e r of the total amount of the fund a t such t ime.
(2) The word " c o m p a n y " in subsection
one of this section shall not include a n y company hav ing a paid up capi ta l of less t h a n five hundred thousand pounds .
(3) The provis ions of subsections three , four, five, six, seven, ten and eleven of section fourteen and of sections twenty-one, twenty-two, twenty-four and twenty-five of the Trus tee Act 1925, as amended by subsequent Acts, shall , subject to this section, apply, muta t i s mutand is , to the B o a r d in the exercise of the powers conferred by this section and to any inves tment made by the Board pu r suan t to this section.
(c) by inserting at the end of section nine the following new subsection :— (2) The B oa r d may, for the purpose of obtaining t empora ry financial accommodation, borrow by way of overdraf t from any bank :
P rov ided that the to ta l amount borrowed by way of overdraf t shall not at any t ime exceed two hundred and fifty thousand pounds .
(d)
by inser t ing next af ter section nine t h e following new section:—
9A. (1) Where , in relat ion to any financial
year , the amount ascer ta ined in accordance wi th
the formula—
1 . 0 1 7 5 I is certified by the Board to be less t h a n the amount ascer ta ined in accordance with the formula—
.0175 (A + B) the employers shall pay to the fund in the manner here inaf ter provided an amount equal to the difference between those amounts (which amount is here inaf ter re fe r red to a s the " d i f f e r e n c e " ) .
(2)
(2) Of such difference each employer shall p a y to the fund on the requisi t ion of the B o a r d the sum which bears to the difference the same propor t ion as the total gross contr ibut ions of employees of tha t employer to the fund dur ing the financial year in question bears to the to ta l g ross contr ibut ions of the employees of all employers to the fund dur ing tha t financial year , with in teres t a t the r a t e of three pounds ten shillings per centum per annum from the date of the close of the financial yea r to the date of payment .
(3) (a) I n th is section—
" F i n a n c i a l y e a r " means a per iod of twelve months ending on the th i r t ie th day of
June ." I " means the to ta l amount of interest , dividends and rents credited to the fund dur ing the financial yea r together with any profit der ived from the real isat ion or apprecia t ion of assets , less the amount of any interes t charges agains t the fund (including in teres t charges upon the vo lun ta ry saving account, the reserve uni ts of pension account or upon any other moneys held by the Board on which the fund pays in teres t ) and the amount of any depreciat ion or loss on the real isat ion of assets .
" A " means the amount of the fund a t the beginning of the financial yea r reduced by the amount of the vo luntary saving account, the reserve uni ts of pension account and such other moneys held by the Board on which the fund pays interest . " B " means the amount of the fund a t the end of the financial yea r reduced by the amount of the vo lun ta ry saving account, the reserve uni ts of pension account and such other moneys held by the Board on which the fund p a y s
interest . (b) (b) I n de termining the amount of I, A and B respectively, accrued in teres t no t received shall be taken into account.
(e) by omitting from subsection one of section eleven all words following the words " f o r t h e purpose of the d i f ference" and by inser t ing in lieu thereof the following p rov i so :—
Prov ided fur ther tha t the Board may, on applicat ion as hereinaf ter provided, exempt from contr ibut ing to the fund-—
(a) any person of or above the age of forty years who, after the commencement of the Superannua t ion (Amendment) Act 1948— (i) enters the service of an employer as an employee, or
(ii) becomes a contributor by reason of the addit ion of his employer to Schedule I I I to this A c t ;
(b)
any person of or above the age of forty yea r s who entered the service of a n employer within the per iod of t h r ee months immediately before t h e commencement of the Superannua t ion (Amendment) Act, 1948;
(c)
any person of or above the age of fifty yea r s who entered the service of a n employer more than three m o n t h s
before the commencement of the
Superannua t ion (Amendment) Act,
had been duly made in accordance wi th exempted from contr ibut ing to the fund 1948, and whose applicat ion to be the law in force immediately p r io r t o such commencement, but had not been deal t with a t the da te of such commencement. I n the case of a person refer red to in p a r a g r a p h (a) of this proviso the appl icat ion shall be made within th ree months after the da te on which such person enters the service of a n employer or becomes a contr ibutor as a foresa id .
I n
I n the ease of a pe r son refer red to in p a r a g r a p h (b) of th is proviso the application shall be made within th ree months after the commencement of the Superannua t ion (Amendment ) Act, 1948.
W h e r e a person is so exempted nei ther he no r any other person claiming th rough him shall be entit led to any benefit under this Act, but the contr ibut ions (if any) paid by or in respect of the person so exempted shall be refunded.
(f) (i) by omit t ing from p a r a g r a p h (e) of the proviso to section twelve the words " t h e pass ing of the Superannua t ion (Amend ment) Act, 1919, and within six m o n t h s " and by inser t ing in lieu thereof the words " t h e commencement of the Superannua t ion (Amendment ) Act, 1948, and within twelve m o n t h s " ;
(ii) by omit t ing from the same p a r a g r a p h the
word " p r e p a r a t o r y " and by inser t ing in
lieu thereof the word " p r i o r " ; (iii) by inserting at the end of the same section the following new subsect ions:—
(2) W h e r e an employee makes the election re fer red to in p a r a g r a p h (e) of the proviso to subsection one of this section, contr ibut ions in respect of the addi t ional uni t shall take effect from the first day of the month or of the four-weekly contribu
the election is made. tion period, as the case may be, in which (3) (a) An election under the said pa ra g r a p h (e) made af ter the expira t ion of one yea r from the commencement of the Super annuat ion (Amendment ) Act, 1948, shall be effective only when the same has been approved by the Boa r d unless such election is made— (i) within ten years after the date
(whether before or af ter such
commencement) on which the employee
employee first became a contr ibutor
to the fund; or
(ii) where a male contr ibutor m a r r i e s af ter the expirat ion of the said per iod of ten years , within one yea r af ter such male con t r ibu to r ' s m a r r i a g e :
P rov ided tha t in any such case contribu t ions shall take effect as provided in subsection two of th is section.
(b) The Boa rd may require any employee who makes such election to furnish evidence as to the s ta te of h is heal th and m a y refuse i ts approva l if evidence is not so furnished or if, from the evidence furnished, the Board is satisfied tha t the employee is not in good health.
W h e r e the B oa r d refuses to approve any
such election the contr ibut ions (if any) pa id by or in respect of the employee
p u r s u a n t there to shall be refunded. (4) (a) W h e r e any contr ibutor who has made the election re fer red to in p a r a g r a p h (e) of the proviso to subsection one of this section is, immediately before the com mencement of the Superannua t ion (Amend ment) Act, 1948, in receipt of a sa la ry of not less t han the equivalent of the annual r a t e of six hundred and twenty-five pounds ,
or effect. such election shall cease to have any force (b) Subject to the provisions of the said p a r a g r a p h and subject to the provi sions of subsection three of this section, any such contr ibutor as aforesaid m a y
aga in elect once unde r the said p a r a g r a p h .
(5) Save as provided in p a r a g r a p h (b)
of subsection four of this section, an elec tion under p a r a g r a p h (e) of the proviso to subsection one of this section may be made once only.
(g)
(g)
by inserting next after section thirteen the following new section:—
13A. Notwi ths tanding anyth ing contained in section th i r teen of this Act where the sa lary of a contr ibutor is reduced otherwise than on account of misconduct, the B oa r d may, upon the appl icat ion of such contr ibutor , approve of his continuing to contr ibute for the number of uni t s for which he contr ibuted p r io r to such reduction.
Any such applicat ion shall be in wr i t ing and shall be forwarded to the B oa r d within a period of th ree months after the date upon which salary a t the reduced ra t e is actually paid, or within such fur ther per iod as the Board may, in special circumstances, allow.
(h)
by inserting next after section fifteen the follow ing subheading and new sect ion:—
Reserve Units of Pension.
15A. (1) There shall be a reserve uni ts of pension account (in this section re fer red to as the " r e s e r v e a c c o u n t " ) which shall form p a r t of the fund and into which shall be pa id all contr ibut ions made by contr ibutors under this section. Such contr ibutions shall accumulate a t such r a t e of interest , compounded annually, as may from time to t ime be determined by the Governor on the recommendat ion of the Board as the resul t of the quinquennial invest igat ion and, unti l such determinat ion has been made ,
a t the r a t e of three and one-half pe r centum interes t , compounded annually.
(2) A contr ibutor who is contr ibut ing
for not less than the number of uni ts of pension corresponding to the sa la ry-group within which his sa lary falls may, from time to t ime, by notice in wr i t ing to the Board in the form prescr ibed, elect to contr ibute for reserve uni ts of pension (hereinaf ter re fe r red to as " r e s e r v e u n i t s " ) in accordance with the provis ions of this section.
(3) The number of reserve uni ts for
which a contr ibutor shall be entit led to con
t r ibute shall not exceed two. (4)
(4) Contr ibut ions in respect of a reserve
uni t—
(a) shall be in accordance with the tables
of contr ibut ions prescr ibed ; (b)
shall take effect from the first day of the month or of the four-weekly con t r ibut ion period, as the case may be, in which the election is made .
(5) (a) W h e r e a contr ibutor who has
contr ibuted for a t least one year for any reserve uni ts becomes eligible to or is required to contr ibute for one or more addi t ional uni ts of pension in pursuance of the provisions of this Act, he may elect by notice in wr i t ing to the Board in the form prescr ibed to app ropr i a t e to the contr ibution account the contr ibutions pa id by him to the reserve account together with the in teres t thereon as aforesaid in respect of a number of reserve uni t s not exceeding the number of those addi t ional uni t s of pension.
(b) W h e r e a contr ibutor so elects,
no fur ther contr ibut ions shall be paid into the reserve account in respect of the reserve uni t s to which the election applies and the contribu tions payable by the contr ibutor in respect of so many of the addi t ional uni ts of pension as is equal to the number of those reserve uni ts shall, subject to the provis ions of section fifteen of this Act, be at the same ra t e as the contribu t ions pa id into the reserve account in respect
of those reserve uni ts .
(6) ( a ) A contr ibutor contr ibut ing for
any reserve uni ts may elect by notice in wr i t ing to the Board in the form prescr ibed to discon t inue his contr ibut ions in respect of one or both of those uni ts and thereupon he shall be paid from the reserve account the amount of the contr ibut ions a l ready made by him in respect of such reserve uni t or uni ts , as the case m a y be, toge ther wi th in te res t on those contr ibut ions
compounded annual ly a t the specified r a t e f rom the respective dates of payment . (b)
(b) W h e r e a contr ibutor contr ibut
ing for any reserve uni ts ceases to be an employee, there shall, subject to the provisions of section 88A of this Act, be pa id to him or to his personal representa t ives from the reserve account the amount of his contr ibut ions to such account together with compound in teres t on those contr ibut ions a t the specified ra te from the respective dates of payment .
(c) I n this subsection " t h e specified r a t e " means , in relat ion to any period, such ra te as may be determined by the Governor on the recommendat ion of the Board in respect of tha t per iod and unt i l such ra te is so determined means three pounds per centum per annum.
(7) A contr ibutor who has made an election under subsection five or subsection six of this section in respect of any reserve unit or uni ts shall not again be eligible to elect to contr ibute for any reserve unit or uni ts .
(8) (a) An employer shall not be
requi red to contr ibute to the fund in accordance wi th the provisions of section sixteen of this Act or otherwise in respect of any reserve units .
(b) W h e r e any contr ibutor makes
the election re fer red to in subsection five of this section, the employer shall, in respect of any addi t ional un i t of pension taken up by the employee to which such employee has
a p p r o p r i a t e d reserve uni t contr ibut ions,
provis ions of section sixteen of this Act a t the contr ibute to the fund in accordance with the r a t e a t which he would have been required so to contr ibute if the employee had taken u p such addi t ional uni t without making the said election. (i) by inserting next after section twenty-one the following new sect ion:—
21A. (1) (a) W h e r e any employee or
pensioner being a mar r i ed male person aged not less than sixty-four and one-half years or being a mar r i ed female person aged not less than fifty- nine and one-half yea r s has contr ibuted in
respect
respect of a number of uni ts of pension in excess of four (or where any other number of uni ts is prescribed, in excess of such prescr ibed number) such employee or pensioner may, by notice in wr i t ing to the Board in the form prescribed, elect to commute such excess uni ts .
(b) Where any employee or
pensioner being a bachelor or widower aged not less than sixty-four and one-half years or being a spinster , divorced female person or widow aged not less than fifty-nine and one-half years has contr ibuted in respect of a number of uni ts of pension in excess of two (or where any other number of uni ts is prescribed, in excess of such prescr ibed number) such employee or pensioner may, by notice in wr i t ing to the Board in the form prescribed, elect to commute such excess uni ts .
(c) A widow aged not less t han fifty-nine and one-half yea r s in receipt of a pension under section th i r ty or section th i r ty- one of this Act may, by notice in wr i t ing to the Board in the form prescribed, elect to commute all uni ts of pension in excess of four (or where any other number of uni ts is prescribed, in excess of such prescr ibed number) for which her deceased husband contributed.
(2) Any such election shall take effect
upon the expirat ion of six months from thereceipt of the same a t the office of the Board .
W h e r e the person making the election dies before such election takes effect, the election shall be deemed to be revoked.
(3) Upon any election taking effect as
aforesa id—
(a)
there shall be paid to the person making such election a lump sum equal to the contr ibut ions paid by such person or by the deceased husband of the widow making such election, as the case may be, in respect of such excess uni ts less all pension pa id to any person in respect
of such excess un i t s ; (b)
(b) no fur ther pension or payment
• whatsoever shall be paid or made to the person making such election or to any other person whomsoever in respect of such excess uni ts .
(4) F o r the purpose of calculat ing the lump sum refer red to in subsection th ree of this section, the uni t or uni t s the subject of the election shall be deemed to be the uni t or uni ts most recently contr ibuted for by the contr ibutor concerned.
(5) The r ights conferred by subsection one of this section upon any male employee or pensioner aged not less than sixty-four and one- half years may be exercised by any male Mem ber of the Forces within the meaning of the Aus t r a l i an So ld ie r s ' Repa t r i a t ion Act 1920- 1947, of the Pa r l i amen t of the Commonwealth of Aust ra l ia , who is a pensioner under this Act and is aged not less than sixty years , in like manner as if such Member of the Forces were aged sixty-four and one-half years .
(J) (i) by omit t ing from section 28A the words
" con t r i bu to r con t r i bu t ed" and by inser t ing in lieu thereof the words " c o n t r i b u t o r had contr ibuted for not less than three y e a r s " ;
(ii) by inserting at the end of the same section the following new subsect ions:—
(2) Where a contr ibutor to whom
contributed for one or more uni ts of subsection one of this section applies has pension for less than three years , there shall be pa id to such contr ibutor on his re t i rement as aforesaid a lump sum equal to the contr ibut ions paid by him in respect of such uni t or uni ts .
(3) Pens ion payable p u r s u a n t to the provisions of this section shall, notwith s tanding anyth ing contained in this or any other Act, commence and be payable as from the date following tha t upon which all leave of absence (whether recreat ion leave,
extended
extended leave or any other form of leave whatsoever ) , if taken, would have te rmina ted .
(k) by inserting at the end of section twenty-nine the following new subsection:— (3) Pens ion payable on re t i rement as afore said shall, no twi ths tanding anyth ing contained in this or any other Act, commence and be payable as from the da te following tha t upon which all leave of absence (whether recreat ion leave, extended leave or any other form of leave wha tsoever ) , if taken, would have terminated.
(1) by omit t ing from subsection one of section 32A the words " sub j ec t to a deduction therefrom of such sum as the Board shall determine as the value as a t the date of his death of all pensions payable under this Act to children of himself or
of his wife on his d e a t h " ;
(m) by omitting from section thirty-nine the words
"pol ice o r " wherever occurr ing; (n) by inserting next after section forty-seven the following new section:— 47A. Any pension under this Act becoming payable after the commencement of the Super annuat ion (Amendment) Act, 1948, to the widow or child of an employee or pensioner shall not, for the purposes of section forty-seven
of the W o r k e r s ' Compensat ion Act, 1926-1947,
be deemed to be a benefit under any other Act. (o) by omitting from subsection one of section fifty-one the words " h i s d u t i e s " and by inser t ing in lieu thereof the words " d u t i e s which, hav ing rega rd to the duties per formed by h im immediately p r io r to his re t i rement , a re in the opinion of the Boa rd suitable to be per formed
by such p e n s i o n e r " ; (p) by inserting next after section sixty-one the following new section:— 61A. (1) Any employee whose life is insured
unde r a policy which is unencumbered and upon
which all p remiums due have been paid may
reques t
request the Board to accept a t rans fe r of such policy in accordance with the provisions of this section.
(2) The Board may in such cases as it deems proper , and subject to such conditions, including conditions as to dura t ion of policies a n d minimum ra t io of su r render value to face value of policies, as m a y be prescribed, accept a t r ans fe r of any such policy.
(3) Upon such acceptance by the Board—
(a) the employee shall assign the benefit of
such policy to the B o a r d ; (b) the Board shall cause all premiums under such policy to be duly paid from the fund.
(4) Where , before the ma tu r i ty of any such policy, the person whose life is insured t he r eunde r requests the B oa r d in wr i t ing in the form prescr ibed to release the same to him and p a y s to the B oa r d the amount of the premiums pa id by it with compound interes t thereon at the prescr ibed ra te per centum per annum from the respect ive dates of payment , the Board shall re lease such policy to such person.
(5) On the m a t u r i t y of such policy (such
policy not having been released p u r s u a n t to the provis ions of subsection four of this section) the Boa rd shall hand over to the person whose life is insured thereunder or to his personal representa t ives to be adminis tered as p a r t of
bis es ta te all moneys received under such policy
less the amount of the p remiums paid by it with
compound in teres t thereon at the prescr ibed r a t e pe r centum per annum from the respective
da t e s of payment . (6) F o r the purposes of this section " t h e
prescr ibed ra te per c e n t u m " means three and
one-half pe r centum or such other ra te as m a y
he p resc r ibed : P rov ided tha t any such other r a t e shall have
effect only as and from the da te the same is
prescr ibed or such la te r da te as may be fixed
b y the regulat ion prescr ib ing the same. (q)
(q)
by inserting next after section eighty-eight the following new section—
88A. (1) W h e r e —
(a)
any person dies leaving money to an amount not exceeding two hundred pounds payable to him from the fund at the date of his dea th ; and
(b)
probate of his will or letters of admin is t ra t ion of his es ta te have not been produced to the Boa rd and notice in wr i t ing of the existence of a will and of intent ion to prove it or to take out le t ters of adminis t ra t ion of such es ta te is not given to the B oa r d within three months of the death of such person,
the Board may, in i ts discretion, apply such
money—(i) in payment of the funeral expenses of
the deceased or in re imburs ing any
person who has pa id such e x p e n s e s , and
(ii) in payment of the same or of the balance thereof to the widower, widow or some relat ion of the deceased or t o such other person as the Boa rd in the circumstances thinks fit.
(2) No person shall have any claim
agains t the Boa r d in respect of anyth ing done
in pursuance of this section, but noth ing in th is section shall relieve the person receiving money in pursuance of this section from any liability to account for or app ly the same in accordance
wi th law. ( r ) (i) by omit t ing from section ninety-four t h e words " i n excess of three months in any
y e a r , ' ' ;(ii) by inserting in the same section after the words " o f this A c t " the words " o r where the per iod of employment in any y e a r i s
less than three m o n t h s " ;
( i i i )
(iii) by inserting at the end of the same section
the following new subsect ions:—
(2) W h e r e any such person as aforesaid is employed in the service of the Sta te , his employer shall so inform the B o a r d forth with.
(3) I n this section " y e a r " means any period of twelve consecutive months ending on any date .
( s ) (i) by omit t ing from the m a t t e r re la t ing to P a r t I V in section two the figures " 6 1 " wherever occurring and by inser t ing in lieu
thereof the figures and le t ter " 6 1 A " ;
(ii) by omit t ing from the same m a t t e r the figures " 4 7 " and by inser t ing in lieu
thereof the figures and le t ter " 4 7 A " ;
( t ) (i) by omit t ing from Table A of Schedule I
the symbol and figures " £ 1 3 " whereveroccurr ing and by inser t ing in lieu thereof
the symbols and figures " £ 2 6 f " ;
(ii) by inserting at the end of the same Table
the following footnote:—
"+ Of this amount of £26, £13 is payable by the employer unde r section 17A , and the contr ibut ion includes half-cost of the ba l ance . "
( u ) (i) by omit t ing from Table A of Schedule I V
the symbol and figures " £ 1 3 " whereveroccurring and by inser t ing in lieu thereof
the symbols and figures " £ 2 6 f " ; (ii) by inserting at the end of the same Table
the following footnote:—
"+ Of this amount of £26, £13 is payable by the employer under section 17A, and the contr ibution includes half-cost of the ba lance . "
(2) The amendments made by p a r a g r a p h (j) of
subsection one of this section shall be deemed to have commenced upon the fifteenth day of Apr i l , one thousand n ine hundred and forty-eight.
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