Superannuation (Further Amendment) Act 1974 (NSW)
SUPERANNUATION (FURTHER AMENDMENT)
ACT.
jaetrj ^outf) OTalesi
ANNO VICESIMO TERTIO
ELIZABETHS II BEGINS
Act No. 104, 1974.
An Act to provide for the automatic adjustment of certain pensions payable under the Superannuation Act, 1916; for these and other purposes to amend that Act; to validate certain matters; and for purposes connected therewith. [Assented to, 13th December, 1974.]
Superannuation (^Further Amendment).
No. 104,1974 T5E it enacted by the Queen’s Most Excellent Majesty, by
-D and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows:—
| Short title. | 1. | This Act may be cited as the “Superannuation (Further |
Amendment) Act, 1974”.
| Commence- | 2 . | (1) | This section and section 1 shall commence on the |
date of assent to this Act.
| (2) | Section 3 shall be deemed to have commenced |
on 27th September, 1974.
| Amendment | 3. | The Superannuation Act, 1916, is amended— |
| of Act No. 28, 1916. |
| Sec. 2. | (a) by inserting in section 2 after the matter relating to |
| (Division |
| of Act.) | Division 5 of Part IV the following matter :— |
D iv is io n 6 .— Automatic adjustment of pensions
| — | ss. 61b-6 1 k . |
| Sec. 17b. | (b) by inserting at the end of section 17b the following |
| payment by |
| (Additional | subsection :— |
| employers | |
| in respect |
| of increase | (10) The liability of employers to make |
| in pension |
| unit value.) | payments to the fund pursuant to this section shall be calculated as if Division 6 of Part IV had not been enacted. |
(c)
Superannuation (Further Amendment).
| (c) | by inserting at the end of section 17c the following No. 104,1974 | |
|
(Additional
| ( 7 ) | The liabihty of employers to make payments payment by |
to the fund pursuant to this section shall be f™res ĉ?
| calculated as if Division 6 of Part IV had not been persons | becoming |
| enacted. | contributors after 1.7.63.) |
| ( d ) | by inserting after section 2 1 a | ( 1 a ) | the following Sec. 2u . |
| subsection :--- | (Commuting of pension.) |
| (1 b ) Notwithstanding anything in subsection (1 ), this section does not authorise the commutation of the amount of any increase of pension payable under Division 6 of Part IV. |
| (e) | by inserting after section 51 (2) the following Sec. 51. | |
|
health may be recalled
| (3) | Notwithstanding anything in this Act— | to service.) |
| (a) | where a person is retired under section 22 within five years of again becoming a contributor following a previous retirement under that section, then, as on and from the date (being not earlier than the commence ment of this subsection) on which pension thereafter first becomes payable to him, the rate at which it is payable shall be that at which it would have been payable to him had he continued in his last retirement (disregarding any retirement of that person to which subsection (2) (b) applied) |
instead
Superannuation {Further Amendment).
| No. 104,1974 | instead of again becoming a contributor and had the provisions referred to in the definition of “suspended part of a pension” in section 61b (1) not been enacted; and |
| (b) | where a contributor dies within five years of having again become a contributor following a previous retirement imder section 22, then, as on and from the date (being not earlier than the commencement of this subsection) on which pension there after first becomes payable to his widow, the rate at which it is payable shall be that at which it would have been payable to her had her late husband— |
(i) where he has been retired under section 22 once only— continued in that retirement instead of his again becoming a contributor; or
(ii) where he has been so retired more than once— continued in his last retirement (disregarding any retire ment of his to which subsection (2) (b) applied) instead of again becoming a contributor,
and had the provisions referred to in the definition of “suspended part of a pension” in section 61b (1) not been enacted.
| (4 ) | Without | affecting | the | operation | of |
subsection (3 ), Part II of the Superannuation (Amendment) Act, 1974, does not apply to a pension referred to in subsection (3 ).
Superannuation {Further Amendment).
| ( f ) | by inserting after Division 5 of Part IV the following No. 104,1974 | |
|
| D iv is io n | 6 .— Automatic adjustment of pensions. |
| 6 1 b . | ( 1 ) | In this Division, except in so far as the interpreta- |
| context or | subject-matter otherwise indicates |
| requires— |
“adjustment date”, in relation to a year, means the first day of the pension pay period that ends on the first pension pay day in the October that next follows that year;
“adjustment percentage”, in relation to a year, means (subject to section 61c (2 ) ) the percentage for that year, calculated in accordance with section 6 1 c ;
“Index number”, in relation to a June quarter, means the number for that Time quarter appearing in the Consumer Price Index (AH Groups Index) for Sydney published by the Commonwealth Statistician under the Census and Statistics Act 1905-1966 of the Parliament of the Commonwealth or that Act as amended from time to time or any Act of that Parliament passed in substitution therefor;
“June quarter”, in relation to a year, means the period commencing on and including 1st April in that year and ending on and including 30th June in that year;
“pension”—
(a) subject to paragraph (b), means—
| (i) | pension payable under this Act; and |
(ii) pension wholly paid or recouped from the Con solidated Revenue Ftmd or the funds of an employer; and
(b)
Superannuation {Further Amendment).
| No.104,1974 | (b) does not include— |
(i) pension that has been com muted under section 21a or 21b ; or
(ii) pension payable in respect of a child or a student;
“quarter”, in relation to a year, means—
| (a) | the period commencing on and including 1st July in that year and ending on and including 30th September in that year; |
| (b) | the period commencing on and including 1st October in that year and ending on and including 31st December in that year; |
| (c) | the period commencing on and including 1st January in that year and ending on and including 31st March in that year; or |
| (d) | the period commencing on and including 1st April in that year and ending on and including 30th June in that year; |
“suspended part of a pension”, in relation to an adjustment date, means, where any part of an increase in pension was not payable at that adjustment date by reason only of the operation of section 2 (5) of the Super annuation (Amendment) Act, 1971, section 7 of the Superannuation (Amendment) Act, 1974, or section 61i of this Act, die unpaid part of that increase;
‘suspended
Superannuation {Further Amendment).
“suspended pension”, in relation to an adjustment No.104,1974
date, means—
| (a) | a pension that was not payable under section 30 or 31 at that adjustment date by reason only of the marriage of a person; or |
| (b) | a pension that was not payable at that adjustment date by reason only of the operation of section 94; |
“year” means—
| (a) | the period commencing on and including 1st July, 1973, and ending on and including 30th June, 1974; |
| (b) | a subsequent period commencing on and including 1st July and ending on and including 30th June. |
| (2) | Where a pension is to be adjusted |
under this Division by reference to the adjustment percentage for a year, a reference (however expressed) in this Division to adjusting the pension is a reference to—
| (a) | where the adjustment percentage is calculated in accordance with the formula set out in section 61c (1) (a )— increasing the pension; or |
| (b) | where the adjustment percentage is calculated in accordance with the formula set out in section 61c (1) (b )— reducing the pension. |
61c.
Superannuation (Further Amendment).
| No.104,1974 | 61c. (1) For the purposes of the definition of |
| Calculation | “adjustment percentage” in section 61b (1 ), the |
| of adjust | percentage for a year shall be calculated— |
| ment percentage. |
| (a) | if the Index number for the June quarter in that year is greater than the Index number for the immediately preceding June quarter — in accordance with the following formula :— |
100 (C — L)
| (b) | if the Index number for the June quarter in that year is less than the Index number for the immediately preceding June quarter— în accordance with the following formula :— |
100 (L — C)
where—
P is the percentage to be obtained;
C is the Index number for the June quarter in
that year; and
L is the Index number for the immediately
preceding June quarter.
(2) Where—
| (a) | the percentage calculated for a year in accordance with this section is less than 1.0 per centum; or |
(b)
Superannuation {Further Amendment).
| (b) |
the Index number for the June quarter inN o .i0 4 ,i9 7 4 for the immediately preceding June quarter,
there shall be deemed to be no adjustment
percentage for that year.
| (3) | Where there is deemed to be no adjust |
ment percentage for a year, then, for the purposes of calculating the percentage for the next year—
| (a) | the Index number for the June quarter in the firstmentioned year shall be deemed not to have been published; and |
| (b) | the Index number for that quarter shall be deemed to be the same as the Index number for the June quarter in the last year for which there was an adjustment percentage. |
(4) If at any time, whether before or after the commencement of this Division, the Common wealth Statistician has published in respect of a particular June quarter an Index number in substitution for an Index number previously published by him in respect of that quarter—
| (a) | except as provided in paragraph (b)—the publication of the later Index number shall be disregarded; or |
| (b) | if the Minister so directs—r̂egard shall, after the direction is given, be had to the later and not to the earlier Index number, |
for the purposes of this Division,
Superannuation {Further Amendment).
| No.104,1974 | (5) | Notwithstanding subsection (4) , if at |
any time after the commencement of this Division the Commonwealth Statistician changes the reference base for the Consumer Price Index (All Groups Index) for Sydney, then, for the purposes of the application of this Division after the change takes place, regard shall be had only to Index numbers pubhshed in terms of the new reference base.
| Adjustment | 6 I d . | ( 1 ) | Subject to this Division, where there is |
| of pensions: |
| general | an adjustment percentage for a year (in this section referred to as “the particular year”), the pension payable on the adjustment date for that year to a person to whom this section applies is hereby adjusted, on and from that adjustment date, by that percentage. |
(2 ) This section apphes to—
| (a) | a person who last became a pensioner before 1st July in the particular year; |
| (b) | a person who is the widow of a pensioner, where that pensioner last became a pensioner before 1st July in the particular year and died before the adjustment date for that year; and |
| (c) | a person who is the widow of a contributor, being a contributor who died, on or after 1st July in the particular year but before the adjustment date for that year, within five years of having again become a contributor following a retirement under section 22 before 1st July in that year. |
(3 )
Superannuation {Further Amendment).
| (3) | A reference in subsection | (1) | to aN o .i0 4 ,i9 7 4 |
pension payable to a person includes a reference to the pension that would have been payable to him had the provisions referred to in the definition of “suspended part of a pension” in section 61b (1) not been enacted.
61E. (1) Subject to this Division, where there is Adjustment
an adjustment percentage for a year (in this section
referred to as “the particular year”), the pension adjustment,
payable on the adjustment date for that year to a
person to whom this section applies is hereby
adjusted, on and from that adjustment date, by the
percentage calculated in accordance with the
formula set out in subsection (3).
(2) This section applies to—
| (a) | a person who last became a pensioner on or after 1st July in the particular year but on or before 31st March in that year, other than a person referred to in paragraph ( c ) ; |
| (b) | a person who is the widow of a pensioner, where that pensioner last became a pensioner on or after 1st July in the particular year but on or before 31st March in that year and died before the adjustment date for that year; and |
| (c) | a person who is the widow of a contributor, being a contributor who died, on or after 1st July in the particular year but before the adjustment date for that year, within five years of having again become a contributor following a retirement under section 22 on or after 1st July in that year but on or before 31st March in that year, |
but does not apply to a person to whom section
6 Id applies.
(3)
Superannuation {Further Amendment).
| No.104,1974 | (3) The formula referred to in subsection |
( 1 )
Q
P X —
4
where—
A is the percentage by which the pension is to be
adjusted;
P is the adjustment percentage for the particular
year; and
Q is the number of whole quarters of the
particular year, being whole quarters after—
| (a) | in the case of a person referred to in subsection (2) (a )— the person last became a pensioner; |
| (b) | in the case of a person referred to in subsection (2) (b )— her late pensioner husband last became a pensioner; or |
| (c) | in the case of a person referred to in subsection (2) (c )— |
(i) where her late husband had been retired under section 22 once only— her late husband was so retired; or
(ii) where her late husband had been so retired more than once— ĥer late husband was last so retired, disregarding any retirement of her late husband to which section 51 (2) (b) applied.
6 1 f .
Superannuation {Further Amendment).
| 6 I f . | ( 1 ) | In determining when a pensioner last No. 104,1974 |
| became a pensioner for the purposes of section 6 1 d . | , | , | „ | , | , | . | • | Application |
or 6 1 e , regard shaU not be had to any retirement of secs,
| to which section 51 ( 2 ) (b) applied. | tobre^^^^ down pen sions and suspended |
| ( 2 ) | Section 6 1 d or 6 1 e , as the case m ay^“*‘°“*' |
require, applies to and in respect of a suspended pension in the same way as it applies to and in respect of a pension referred to therein, and so applies as if—
| (a) | the marriage by reason of which the pension is a suspended pension had not taken place; |
(b) section 94 had not been enacted,
as the case may require, but nothing in this subsec tion operates so as to authorise or require the payment at any time of that suspended pension or any part thereof.
6 1 g . ( 1 ) Where an increase in pension is Certain
payable to a pensioner under the Superannuation
(Amendment) Act, 1970, then, as on and from the Super
date (being not earlier than the commencement
this Division) on which the increase is payable, the mem) Act,
rate at which it is payable shall be that at which it
would be payable to him had he been in receipt
of the increase at the commencement of Part II of
the Superannuation (Amendment) Act, 1974.
(2 )
Superannuation {Further Amendment).
| N o .l0 4 ,m 4 | (2) Without affecting the operation of subsection (1) , Part II of the Superannuation (Amendment) Act, 1974, does not apply to an increase in pension referred to in subsection (1) . |
| Minimum | 6 l H . Notwithstanding anything in this Division— |
| amount to which pensions | |
| reduced. | |
| may be | (a) a pension (other than a pension payable to a person by virtue of her being a widow of a pensioner) shall not be reduced below the fortnightly amount that would, if this Division had not been enacted, have been payable; and |
a pension payable to a person by virtue of her being a widow of a pensioner shall not be reduced below the fortnightly amount that would have been payable to her by reference to the pension that would, if this Division had not been enacted, have been payable to her late husband.
| Suspension | 611. (1) Where the operation of the provisions |
| of increase |
| in pension | of this Division would increase the pension payable |
| in certain | to a person, or a widow’s pension would be |
| circum | |
| stances. | increased by reason of the operation of those provisions in relation to her late husband, and that person or widow would, in the opinion of the Board, thereby be prejudicially affected in respect of any benefits otherwise receivable by that person or widow, the amount of the increase shall be such lesser amount than that provided for under this |
Division
Superannuation {Further Amendment).
Division as the Board from time to time determines, No.104,1974
and the amount of the increase so determined shall
be payable in respect of such periods or at such
times by way of lump siun or otherwise as the Board
from time to time determines.
(2) An increase or part of an increase that is not paid because of the operation of subsection (1) shall, in calculating a pension payable imder section 30 or 31, be taken into account as if it had been payable.
6 1 j . ( 1 ) Where, by virtue of there being an Additional
adjustment percentage for a year, an increased payment by pension is payable to a pensioner or to the widow ’ of a deceased pensioner or contributor, the
employer in whose service the pensioner or deceased pensioner was employed at the date of his retire ment or retrenchment, or in whose service the con tributor was employed at the date of his death, shall pay to the Fund at such intervals as may be determined by the Board and on the requisition of the Board, an amount equal to the difference between the amount of the pension payable under this Division and the amount of pension that would have been payable had there been no adjustment percentage for that year.
(2) An amount payable by an employer under this section is additional to any contribution or other payment that the employer is required to make under any other provision of this Act,
61 k .
Superannuation (Further Amendment).
| No.104,1974 | 6lK. Where a percentage that is to be calculated |
| Calculation | under this Division is or includes a fraction of |
| of | one-tenth of one per centum— |
| percentages. |
| (a) | if that fraction is less than one-half of one- tenth— that fraction shall be disregarded; and |
| (b) | if that fraction is not less than one-half of one-tenth— t̂hat fraction shall be treated as one-tenth. |
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