Superannuation (PSS) Productivity Contribution (2013-2014) Determination 2013 – Explanatory Statement
1 Name of Determination
This determination is the Superannuation (PSS) Productivity Contribution (2013-2014) Determination 2013.
2 Commencement
This determination takes effect on 1 July 2013.
3 Purpose
The purpose of this determination is to set new productivity contribution rates for the Public Sector Superannuation (PSS) scheme to apply for the financial year beginning on 1 July 2013.
4 Background
Establishment of the PSS Scheme
The PSS scheme is established by the Superannuation Act 1990, a Trust Deed and Rules.
The PSS Rules were renumbered with effect from 1 July 1995, as a result of amendments made by the Ninth Amending Trust Deed.
The PSS Rules were further amended by the Twenty-Eighth Amending Trust Deed executed in 2007 by the deletion of a “B” before each rule with effect from 29 June 2007.
Productivity Contribution Rates
PSS Rule 4.3.2 sets out a Table of Productivity Contributions Rates to apply from 1 July 1995 until amended.
PSS Rule 4.3.3 provides for the productivity contribution rates set out in
the Table in rule 4.3.2 to be amended by the Commonwealth Superannuation Corporation (CSC) with effect from 1 July each year, to reflect changes in the general salary levels of members. The increase in the amounts in the Table of Productivity Contribution Rates maintains the real value of the productivity contributions in relation to the overall salaries of PSS members.
Delegation
CSC has delegated its power under rule 4.3.3 to relevant officers in Commonwealth Superannuation Administration.
Productivity Contribution Rates in the Period 1 July 1996-30 July 2005
In the period from 1 July 1996 to 30 July 2005, the amounts set out in the table in rule 4.3.2 were replaced on 1 July each year, pursuant to the PSS (Productivity Contribution Rates) Determination No. 1, which was amended each year in consecutively-numbered determinations. That Determination was revoked on 1 July 2005 by the Superannuation (PSS) Productivity Contribution (2006-2007) Determination 2006, which set out the productivity contribution rates for the financial year commencing on 1 July 2005.
Productivity Contribution Rates in the Period from 1 July 2005
Productivity contribution rates in the period from 1 July 2005 are set out in annual determinations that apply for the financial year commencing on 1 July each year.
5 New Productivity Contribution Rates
The new productivity contribution rates that apply with effect from
1 July 2013 are set out in the determination.
6 References to CSC
Section 5 of the Governance of Australian Government Superannuation Schemes Act 2011 provides that “the board established by section 20 of the Superannuation Act 1990 as the Australian Reward Investment Alliance continues in existence by force of that section as a body corporate, under and subject to the provisions of this Act, under the name Commonwealth Superannuation Corporation (CSC)”.
In accordance with section 25B of the Acts Interpretation Act 1901, any reference to Australian Reward Investment Alliance (ARIA) in an instrument made prior to 1 July 2011 shall be construed as a reference to CSC.
7 Consultation
As the instrument is for internal machinery of Government purposes only, no consultation was considered necessary with other persons (see sections 17 and 18 of the Legislative Instruments Act 2003).
Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
This Legislative Instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Human rights implications
This Legislative Instrument does not engage any of the applicable rights or freedoms.
Conclusion
This Legislative Instrument is compatible with human rights as it does not raise any human rights issues.