Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1999 No. 36
EXPLANATORY STATEMENT
STATUTORY RULES 1999 No. 36
Issued by the authority of the Minister for Finance and Administration
Superannuation Act 1990
Declaration under paragraph (b) of the definition of "approved authority" in section 3
The Superannuation Act 1990 (the 1990 Act) makes provision, for and in relation to an occupational superannuation scheme, called the Public Sector Superannuation Scheme (the PSS), for Commonwealth employees and certain other persons.
Persons eligible to contribute under the 1990 Act include persons who are employed under the Public Service Act 1922, as well as persons who are employed by an "approved authority". In accordance with paragraph (b) of the definition of "approved authority" in section 3 of the 1990 Act, an approved authority includes an authority or body declared by the Minister for Finance and Administration to be an approved authority for the purposes of the 1990 Act, being a body of a kind described in the definition. Declarations made under paragraph (b) of the definition of approved authority are contained in the Superannuation (PSS) Approved Authority Inclusion Declaration (the Principal Declaration).
Section 45 of the 1990 Act provides that such a declaration is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a statutory rule for the purposes of the Statutory Rules Publication Act 1903.
NEPC Service Corporation is established for a public purpose by the National Environment Protection Council Act 1994 and is a body of a kind described in paragraph (b) of the definition of "approved authority" in section 3 of the 1990 Act. It is appropriate that NEPC Service Corporation be declared an approved authority for the purposes of the 1990 Act to provide the option of PSS membership to staff employed under employment contracts.
The Declaration contained in the statutory rules and cited as "Superannuation (PSS) Approved Authority Declaration (Amendment)" amends the Principal Declaration by including NEPC Service Corporation in the list of bodies declared by the Minister for Finance and Administration to be approved authorities for the purposes of the 1990 Act.
Overview
The Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1999 No. 36, issued under the authority of the Minister for Finance and Administration, amends the Superannuation Act 1990 to address the gap in the inclusion of certain bodies within the definition of "approved authority" for the Public Sector Superannuation Scheme (PSS). This amendment responds to the need to extend the PSS membership eligibility to staff employed by the NEPC Service Corporation, which was established for a public purpose by the National Environment Protection Council Act 1994. The policy objective is to ensure that eligible persons, including those employed by bodies like NEPC Service Corporation, can contribute to the PSS, thereby providing them with access to occupational superannuation benefits. This amendment is a statutory rule made under section 45 of the 1990 Act and is subject to disallowance under section 46A of the Acts Interpretation Act 1901.
Scope and Application
The Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1999 No. 36, issued under the authority of the Minister for Finance and Administration, pertains to the Superannuation Act 1990. This Act establishes the Public Sector Superannuation Scheme (PSS) designed for Commonwealth employees and other specified individuals. The amendment involves the inclusion of the National Environment Protection Council Service Corporation (NEPC Service Corporation) in the list of approved authorities under the Act, thereby extending the eligibility to join the PSS to the staff of this entity. This inclusion is made pursuant to the authority granted by paragraph (b) of the definition of "approved authority" in section 3 of the 1990 Act, and the amendment is a statutory rule as defined in the Statutory Rules Publication Act 1903. The amendment specifically addresses the eligibility of staff employed under contracts by the NEPC Service Corporation, thereby broadening the scheme's reach to include this public entity's workforce.
Key Provisions
The primary operative sections of the Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1999 No. 36 involve amending the existing Superannuation (PSS) Approved Authority Inclusion Declaration. This amendment, as described in section 4, declares the NEPC Service Corporation, established under the National Environment Protection Council Act 1994, as an approved authority for the purposes of the Superannuation Act 1990 (section 3). This declaration enables the inclusion of NEPC Service Corporation in the list of bodies eligible to participate in the Public Sector Superannuation Scheme (PSS). The amendment reflects the intent to offer PSS membership to employees of NEPC Service Corporation, thereby extending the benefits and protections of the scheme to this new group of employees.
The obligations and requirements imposed by this Act on NEPC Service Corporation and its employees are largely aligned with those of other approved authorities under the Superannuation Act 1990. As an approved authority, NEPC Service Corporation must ensure that eligible employees contribute to the PSS in accordance with the provisions of the Act. This includes facilitating the enrolment of eligible employees into the scheme, ensuring that contributions are deducted from employee salaries, and forwarding these contributions to the relevant superannuation fund. Additionally, NEPC Service Corporation must comply with all other related obligations and requirements stipulated by the Act to maintain its status as an approved authority.
In terms of legal consequences for non-compliance, the Superannuation (PSS) Approved Authority Inclusion Declaration (Amendment) 1999 No. 36 does not explicitly outline specific offences or penalties within its text. However, breaches of the Superannuation Act 1990 can result in various civil and criminal penalties. For instance, failure to make required contributions, or mishandling of superannuation funds, can result in financial penalties, imprisonment, or both, depending on the severity and intent of the breach. The maximum penalties for such breaches can be significant, reflecting the importance of the legislative intent to protect superannuation benefits for eligible employees.
Given the nature of the amendment, it is also important to consider the implications for existing legal frameworks and administrative procedures. The inclusion of NEPC Service Corporation as an approved authority under the Act may require adjustments in administrative processes, reporting requirements, and compliance protocols to ensure that the scheme continues to operate effectively and efficiently. These adjustments should be made in consultation with relevant regulatory bodies and stakeholders to maintain the integrity of the PSS.