Superannuation (Former Eligible Employees) Regulations (Amendment) (Cth)
19 |
acting with the advice of the Federal Executive Council, make the
following Regulations under the
Dated | 1994. 11 February |
BILL HAYDEN
Governor-General (
By His Excellency's Command,
Kim C. BEAZLEY
Minister for Finance
1.1 The Superannuation (Former Eligible Employees) Regulations
are amended as set out in these Regulations.
2 |
2.1 After regulation 15, insert:
"15A. (1) In this regulation:
applies in accordance with subregulation (2);
known at the commencement of this regulation as the Repatriation
General Hospital, Hollywood;
(a) | the purchaser or transferee from the Commonwealth of the Hospital; and |
(b) | any successor to that purchaser or transferee as owner or operator of the Hospital; |
transfer of the Hospital by the Commonwealth has effect.
"(2) This regulation applies to a person if:
(a) | immediately before the sale day, the person was an eligible employee performing duties at the Hospital; and |
(b) | section 126A of the Act applies to the person because the person: |
(i) has ceased to be an eligible employee in circumstances connected with the sale or transfer of the Hospital; and
(ii) becomes a member of a superannuation scheme (other than the superannuation scheme constituted by the Act) provided by, or on behalf of, the purchaser to its employees; and
(c) section 155B of the Act applies to the person; and
(d) | not later than 21 days after ceasing to be an eligible employee, the person either: |
(i) made an election under section 137 of the Act |
that Division 3 of Part IX of the Act apply to the
person; or
(ii) made an election for the purposes of this subregulation, by notice in writing to the Commissioner, that Division 3A of Part IX of the Act (as modified in accordance with Schedule 11 of these Regulations) apply to the person.
"(3) The Act is modified in accordance with Schedule 11 in relation to each person to whom this subregulation applies, that is, a Hollywood employee who made an election mentioned in subparagraph (2) (d) (ii).
"(4) The Act is modified in accordance with Schedule 11A in relation to each person to whom this subregulation applies, that is, a Hollywood employee who:
(a) | is retrenched by the purchaser within 3 years of the sale day and before attaining the age of 60 years; and |
(b) | was continuously employed by the purchaser throughout the period beginning on the sale day and ending on the person's retrenchment; and |
(c) not later than 21 days after the person's retrenchment:
(i) provides to the Commissioner documentary evidence of the retrenchment; and
(ii) makes an election for the purposes of this subregulation, by notice in writing to the Commissioner, that benefits under Division 2 of Part V of the Act (as modified in accordance with Schedule 11A of these Regulations) become payable to or in relation to the person in place of the benefits otherwise payable under Division 3 of Part IX of the Act, or under Division 3A of Part IX of the Act (as modified in accordance with Schedule 11 of these Regulations), to or in relation to the person.".
4 |
3.1 Heading:
Omit:
EMPLOYEES OF SERVICES ETC. SOLD, PRIVATISED, ETC
DELAYED UPDATED PENSION MODIFICATIONS",
substitute:
MODIFICATIONS—EMPLOYEES AFFECTED BY
PRIVATISATION, ETC. (DELAYED UPDATED PENSION)".
3.2 Inserted subsection 144A (1):
After "Regulations", insert ", or the election under paragraph
15A (2) (d) of those Regulations".
4.1 After Schedule 11, insert:
MODIFICATIONS—FORMER EMPLOYEES OF THE
REPATRIATION GENERAL HOSPITAL, HOLLYWOOD,
RETRENCHED WITHIN 3 YEARS OF SALE DAY
After subsection 58 (3A), insert:
"(3B) A person to whom subregulation 15A (4) of the Superannuation (Former Eligible Employees) Regulations applies (in
this Division called a
the purposes of this Act, to have retired involuntarily.".
After subsection 60 (1), insert:
"(2) | In relation to a subregulation 15 A (4) person, a reference |
in this section to the person's last day of service is taken to be a
reference to the day of the person's retrenchment.".
Omit subsection (4), substitute:
"(4) In this section:
means the day of the person's retrenchment;
person, means the final rate of salary ascertained in accordance with
section 61A A.
"61A A. (1) | For the purposes of subsection 61 (4), the final rate |
of salary of a regulation 15 A (4) person is the amount calculated in
accordance with the formula:
S x CPI
2 /CPI1
where:
employee; and
before the person ceased to be an eligible employee; and
is: (a) the number calculated in accordance with the formula: |
6 |
where:
' a ' is the CPI published in respect of the latest complete quarter that precedes the person ' s retrenchment; and
'b' is the amount of the difference between the number represented by 'a ' and the CPI published in respect of the quarter that immediately preceded the quarter referred to in the definition of 'a '; and' d
1 ' is the number of days in the period that begins on the first day of the quarter that immediately follows the quarter referred to in the definition of 'a ' and ends on the day of the person's retrenchment; and' d
2 ' is the number of days in the quarter that immediately follows the quarter referred to in the definition of 'a '; or
(b) | if, under paragraph (a), the value of 'a' is less than the value of 'b'—the CPI represented by 'a '. |
"(2) Subject to subsection (3), if at any time after a benefit becomes payable under this Division, the Australian Statistician has published or publishes in respect of a particular quarter a CPI in substitution for a CPI previously published in respect of that quarter, the publication of the later CPI is to be disregarded for the purposes of this section.
"(3) If, at any time, the Australian Statistician has changed or changes the reference base for the Consumer Price Index, then, for the purposes of the application of this section after the change took or takes place, regard is to be had only to index numbers published in terms of the new reference base.
"(4) In this section:
' C P I ' means the all groups consumer price index number for the weighted average of the 8 capital cities published by the Australian Statistician;
'quar te r ' means a period of 3 months ending on 31 March, 30 June,
30 September or 31 December.". |
After subsection 62 (1), insert:
"(1A) | A subregulation 15 A (4) person may, not later than 3 |
months after the day of the person's retrenchment, elect, by notice in writing to the Commissioner, that, in lieu of pension and lump sum benefit being payable under section 55 or 59, benefit be paid under this section.".
Add at the end:
'(iv) has attained the age of 55 years and is taken, under subsection 58 (3B) to have retired involuntarily; or".
Omit the paragraph.
NOTES
2. Statutory Rules 1986 No. 266 as amended by 1987 No. 307; 1989 Nos. 16 and 306; 1990 Nos. 141, 177 and 451; 1991 Nos. 161 and 445 (as amended by 1992 No. 212); 1992 Nos. 94, 170, 212 and 271; 1993 No. 262.
0
0
0