Thirtieth Amending Deed to the Trust Deed to Establish an Occupational Superannuation Scheme for Australian Government Employees and Certain Other Persons (the Public Sector Superannuation Scheme) (Cth)

THIRTIETH AMENDMENT

of the

PUBLIC SECTOR SUPERANNUATION SCHEME TRUST DEED

THIS DEED is made on 19^th December 2007        by THE COMMONWEALTH OF AUSTRALIA.

WHEREAS section 4 of the Superannuation Act 1990 (the Act) provides for the Minister to establish an occupational superannuation scheme to be administered by the Board established under section 20 of the Act (the Board);

AND WHEREAS the Public Sector Superannuation Scheme (the PSS) was established by a Trust Deed dated 21 June 1990 (the Trust Deed)[1];

[1] Section 3 of the Act defines “Trust Deed” to include that deed as subsequently amended. A note listing particulars of the Trust Deed and the amending deeds is set out at the end of this Deed.

AND WHEREAS the Schedule to the Trust Deed contains Rules for the administration of the PSS (the Rules);

AND WHEREAS the Trust Deed and the Rules have been amended from time to time by various Deeds;

AND WHEREAS section 5 of the Act provides for the Minister, by instrument in writing, to amend the Trust Deed, and requires the consent of the Board to amendments in certain circumstances;

AND WHEREAS the Board has consented to the amendments provided for in this Deed.

NOW THIS DEED WITNESSES as follows:

1.         Commencement of amendments

The amendments in this Deed take effect immediately after the commencement of clause 6 of the Twenty-ninth Amending Deed.

2.         Interpretation

Unless a contrary intention appears, a word or phrase in this Deed has the same meaning that it has in the Trust Deed and the Rules.

In this Deed Twenty-ninth Amending Deed means the deed registered on the Federal Register of Legislative Instruments on 31 August 2007 (Legislative Instrument number F2007L03519).

Clause 3 – Technical amendments concerning early release of benefits

3.         The Rules are amended as follows:

3.1       Rule 16.1.2 is amended by replacing the definition of additional accumulation amount with the following definition:

“additional accumulation           in relation to a member spouse who is, or has been at any

amount   time, a member, is the amount, if any, that would become payable if the accumulated transfer amount became payable as a lump sum at the operative time, less any part of that amount that would relate to the early release deduction amount.”

3.2       Rule 16.1.2 is amended by replacing the definition of member contributions amount with the following definition:

“member contributions              in relation to a member spouse who is, or has been at any

amount   time, a member, is the amount that would become payable if the accumulated member contributions became payable as a lump sum at the operative time, less any part of that amount that would relate to the early release deduction amount.”

3.3       Rule 16.1.2 is amended by replacing the definition of productivity contributions amount with the following definition:

“productivity contributions       in relation to a member spouse who is, or has been at any

amount   time, a member, is the amount that would become payable if the accumulated productivity contributions became payable as a lump sum at the operative time, less any part of that amount that would relate to the early release deduction amount.”

3.4       Rule 16.8.1 is amended by replacing the first-mentioned formula with the following formula:

“ABM × AS × ABF_y+m,s + AMC × (1 - MCF_y+m,s) + APC × (1 - PCF_y+m,s) + ATA - ERDA”

3.5       Rule 16.8.2 is amended by:

(a)        replacing the first-mentioned formula with the following formula:

“UDB × UDBF_y+m + FDB × FDBF_y+m + ATA - ERDA”

(b)        inserting the following definition after the definition of ATA:

“ERDA (see Rule 16.1.2)”

3.6       Rule 16.8.3 is amended by replacing the first-mentioned formula with the following formula:

“UDB × UDBF_y+m + FDB + ATA - ERDA”

IN WITNESS WHEREOF this Deed has been executed the day and year first hereinbefore written.

SIGNED, SEALED AND DELIVERED   )

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by the Honourable LINDSAY TANNER                     )           …Lindsay Tanner……………………..

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Minister for Finance and Deregulation               )

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for and on behalf of   )

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THE COMMONWEALTH OF   )

)

AUSTRALIA, in the presence of:   )

)

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(name)   )           …Ray Thomas……………………..

)

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            (address)   )           …106 Clauscen Street North Fitzroy..

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(description)   )           …State Government Advisor………..

)

Note to the Deed:  TABLE LISTING TRUST DEED AND AMENDING DEEDS

Before 1 January 2005, section 45 of the Superannuation Act 1990 provided, in part, that instruments under subsection 5(1) of that Act amending the Trust Deed were disallowable instruments for the purposes of section 46A of the Acts Interpretation Act 1901. The effect of these provisions was that amending instruments were required to be notified in the Gazette and take effect from the date of gazettal (unless the instrument provided otherwise).

From 1 January 2005, paragraph 6(d) of the Legislative Instruments Act 2003 declared disallowable instruments (such as the instruments amending the Trust Deed) to be legislative instruments. Legislative instruments are registered on the Federal Register of Legislative Instruments instead of being notified in the Gazette.

Date of making	Number	Gazette details / Registration details
21 June 1990	Trust Deed	GN 25, 27 June 1990, p1728
21 June 1990	First	GN 25, 27 June 1990, p1728
1 July 1991	Second	S 180, 1 July 1991
30 June 1992	Third	S 181, 1 July 1991
21 December 1992	Fourth	GN 1, 13 January 1993, p110
16 June 1993	Fifth	S 181, 18 June 1993
24 January 1994	Sixth	GN 4, 2 February 1993, p366
7 March 1994	Seventh	S 89, 15 March 1994
28 June 1993	Eighth	S 246, 29 June 1994
22 June 1995	Ninth	GN 25, 28 June 1995, p2285
29 January 1996	Tenth	S 41, 1 February 1996
10 December 1996	Eleventh	GN 50, 18 December 1996
25 March 1998	Twelfth	GN 13, 1 April 1998, p901
5 December 1999	Thirteenth	S 590, 6 December 1999
20 August 2001	Fourteenth	S 342, 22 August 2001
25 September 2001	Fifteenth	GN 39, 3 October 2001, p2972
26 June 2002	Sixteenth	S 225, 27 June 2002
3 April 2003	Seventeenth	GN 17, 30 April 2004, p 1398
Date of making	Number	Gazette details / Registration details
27 June 2003	Eighteenth	S 245, 27 June 2003
26 November 2003	Nineteenth	S 446, 1 December 2003
23 March 2004	Twentieth	S 89, 24 March 2004
9 May 2004	Twenty-first	S 146, 11 May 2004
5 July 2004	Twenty-second	S 277, 9 July 2004
9 August 2004	Twenty-third	S 330, 12 August 2004
8 June 2005	Twenty-fourth	F2005L01613, 27 June 2005
24 June 2005	Twenty-fifth	F2005L01860, 29 June 2005
22 August 2005	Twenty-sixth	F2005L02372, 25 August 2005
20 June 2006	Twenty-seventh	F2006L01969, 26 June 2006
21 June 2007	Twenty-eighth	F2007L01943, 28 June 2007
28 August 2007	Twenty-ninth	F2007L03519, 31 August 2007