Superannuation (State Public Sector) Amendment of Deed Regulation (No. 1) 2001 (Qld)

Queensland Subordinate Legislation 2001 No. 255 Superannuation (State Public Sector) Act 1990 SUPERANNUATION (STATE PUBLIC SECTOR) AMENDMENT OF DEED REGULATION (No. 1) 2001 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Approval of amendments of deed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 SCHEDULE . . . . . . . . . . . . . . . . . . . . . . . . 3 AMENDMENTS OF SUPERANNUATION (STATE PUBLIC SECTOR) DEED 1990 1 Amendment of s 22 (Membership categories) . . . . . . . . . . . . . . . . . . . . . . . 3 2 Amendment of s 23C (Accumulation categories) . . . . . . . . . . . . . . . . . . . . . 3 3 Amendment of s 67 (Application). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Amendment of s 71A (Compulsory contributions by members in comprehensive accumulation category) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Amendment of s 71B (Deduction of compulsory contributions from salary) ........................................... 4 6 Amendment of s 72 (Payment of contributions) . . . . . . . . . . . . . . . . . . . . . . 5 7 Insertion of new ch 3, pt 4B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 PART 4B—QAS ACCUMULATION CATEGORY 89KA Payments from provident fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

s1 2 s3 Superannuation (State Public Sector) Amendment of No. 255, 2001 Deed Regulation (No. 1) 2001 1 Short title This regulation may be cited as the Superannuation (State Public Sector) Amendment of Deed Regulation (No. 1) 2001 . 2 Commencement This regulation commences on 1 January 2002. 3 Approval of amendments of deed This regulation approves the amendments of the Superannuation (State Public Sector) Deed 1990 stated in the schedule.

3 Superannuation (State Public Sector) Amendment of No. 255, 2001 Deed Regulation (No. 1) 2001 SCHEDULE AMENDMENTS OF SUPERANNUATION (STATE PUBLIC SECTOR) DEED 1990 section 3 1 Amendment of s 22 (Membership categories) (1) Section 22, heading— omit, insert— ‘22 Membership categories’. (2) Section 22(1) and (2)— omit, insert— ‘ (1) Each member belongs to 1 or more of the following categories— • comprehensive accumulation category • basic accumulation category • QAS accumulation category • standard defined benefit category • State 58 category • State 72 category • police 68 category • police 74 category • fire category. ‘ (2) The comprehensive accumulation, basic accumulation and QAS accumulation categories are “accumulation categories” .’. 2 Amendment of s 23C (Accumulation categories) Section 23C— insert—

4 Superannuation (State Public Sector) Amendment of No. 255, 2001 Deed Regulation (No. 1) 2001 SCHEDULE (continued) ‘ (2A) The following applies to a member who transfers from the QAS accumulation category to another category— (a) any amount in the member’s accumulation account is not affected by the transfer; (b) the member stops being a member in the QAS accumulation category; (c) if the transfer is to the standard defined benefit category and the member has an amount in the member’s accumulation account, the member becomes a member in the basic accumulation category as well as the standard defined benefit category.’. 3 Amendment of s 67 (Application) Section 67, ‘or basic accumulation category’— omit, insert— ‘, basic accumulation category or QAS accumulation category’. 4 Amendment of s 71A (Compulsory contributions by members in comprehensive accumulation category) (1) Section 71A, heading, after ‘ accumulation ’— insert— ‘ or QAS accumulation ’. (2) Section 71A(1) and (3), after ‘accumulation’— insert— ‘or QAS accumulation’. 5 Amendment of s 71B (Deduction of compulsory contributions from salary) Section 71B(1), after ‘accumulation’— insert— ‘or QAS accumulation’.

5 Superannuation (State Public Sector) Amendment of No. 255, 2001 Deed Regulation (No. 1) 2001 SCHEDULE (continued) 6 Amendment of s 72 (Payment of contributions) (1) Section 72(4), definition “employee contribution rate”, after ‘accumulation’— insert— ‘or QAS accumulation’. (2) Section 72(4), definition “prescribed percentage”, paragraph (d), ‘for a member’— omit, insert— ‘for a member in the QAS accumulation category or a member’. 7 Insertion of new ch 3, pt 4B After section 89K— insert— ‘PART 4B—QAS ACCUMULATION CATEGORY ‘89KA Payments from provident fund ‘ (1) The board may credit the accumulation account of a member in the QAS accumulation category with an amount transferred from the provident fund. ‘ (2) The amount is to be calculated by the board on the advice of the actuary. ‘ (3) In calculating the amount under subsection (2), the board must also have regard to any agreement about the transfer of amounts from the provident fund entered into between the board and the trustees of the eligible scheme known as the Queensland Ambulance Service Superannuation Scheme. ‘ (4) In this section— “provident fund” means the provident fund under the Queensland Ambulance Service Superannuation Scheme and transferred to the scheme established under the Act.’.

6 Superannuation (State Public Sector) Amendment of No. 255, 2001 Deed Regulation (No. 1) 2001 ENDNOTES 1. Approved by the Governor in Council on 13 December 2001. 2. The amendments approved by this regulation were made by the Board of Trustees of the State Public Sector Superannuation Scheme on 3 December 2001. 3. Notified in the gazette on 14 December 2001. 4. Laid before the Legislative Assembly on . . . 5. The administering agency is the Treasury Department. © State of Queensland 2001