Superannuation Regulations (Amendment)

Administered by Department of Finance

Legislation au F1997B02352 Regulations In force Legislative Instrument

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STATUTORY RULES

1965 No. 182

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REGULATIONS UNDER THE SUPERANNUATION ACT 1922-1965.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act 1922-1965.

Dated this tenth

day of December, 1965.

R. G. Casey

Governor-General.

By His Excellency’s Command,

Harold Holt

Treasurer.

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Amendments of the Superannuation Regulations

Manner of ascertaining salary for purposes of section 22.

1. Regulation 6 of the Superannuation Regulations is amended by omitting sub-regulation (1.) and inserting in its stead the following sub-regulation:—

“(1.) For the purposes of paragraph (a) of sub-section (1.) of section 22 of the Act, the salary of an employee who is paid salary at a rate other than an annual rate of salary shall be ascertained, for the purposes of Division 2 of Part III. of the Act, by multiplying the weekly rate of salary of the employee by 52.”.

Amount specified for purpose of section 20 (3a.).

2. Regulation 6a of the Superannuation Regulations is repealed.

3.—(1.) Regulation 7 of the Superannuation Regulations is repealed and the following regulation inserted in its stead:—

Prescribed time and condition for purposes of section 20a.

“7.—(1.) The time within which an employee to whom sub-section (1.) or sub-section (2.) of section 20a of the Act applies may elect to contribute for additional units of pension in accordance with sub-section (3.) of that section is the period of 12 months after—

(a) the date upon which his salary is increased or the date as from which his salary is increased, whichever is the later date; or

(b) the date upon which the prescribed amount is increased,

as the case requires.

“(2.) It is a condition upon which an employee may make an election under sub-section (3.) of section 20a of the Act that the employee, within the period of 6 months after the date on which he makes the election or within such further period as the Board allows, satisfies the Board that he is not suffering from any physical or mental defect (not being a defect that, in the opinion of the Board, is the result of service of the employee as a

 

* Notified in the Commonwealth Gazette on , 1965.

† Statutory Rules 1960, No.68, as amended by Statutory Rules 1962 No. 14; 1963, Nos. 51 and 118; 1964, No. 73; and 1965, No. 5.

15177/65.—Price 6d (53) 10/3.12.1965


member of the Forces as defined by sub-section (2.) of section 147 of the Act) likely to render him incapable of performing his duties before attaining the maximum age for retirement.”.

(2.) Notwithstanding the repeal of regulation 7 of the Superannuation Regulations by the last preceding sub-regulation, the repealed regulation continues to apply, after the commencement of these Regulations, to and in relation to an employee who, immediately before the commencement of the Superannuation Act 1965, was entitled under sub-section (8.) of section 20 of the Superannuation Act 1922-1963 to elect to contribute for additional units of pension.

4. Regulation 10 of the Superannuation Regulations is repealed and the following regulation inserted in its stead:—

Prescribed time for purposes of section 67 or 69.

“10. The prescribed time for the purposes of sub-section (2.) of section 67, or of sub-section (1.) of section 69, of the Act is—

(a) in the case of a person who is an employee within the meaning of section 4 of the Act—the period of 12 months after the date on which he becomes an employee; or

(b) in the case of a person who is to be deemed to be an employee within the meaning of section 4 of the Act by virtue of a direction under sub-section (4.), (5.) or (6.) of that section —the period of 12 months after the date as from which he is to be deemed to be such an employee.”.

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By Authority: A. J. Arthur, Commonwealth Government Printer, Canberra

Overview

The Superannuation Regulations 1965 were enacted to provide detailed provisions and amendments under the Superannuation Act 1922-1965. These regulations were introduced to address the need for more precise and updated guidelines concerning superannuation contributions and related matters. Enacted by the Governor-General in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, these regulations aim to streamline and clarify the administrative processes surrounding superannuation. The primary policy objective is to ensure that superannuation contributions are accurately calculated and managed in accordance with the provisions of the Superannuation Act, thereby protecting the interests of employees and ensuring the effective administration of superannuation funds.

Scope and Application

The Superannuation Regulations 1965, made under the Superannuation Act 1922-1965, apply to employees who are eligible for superannuation benefits under the Act. The regulations primarily concern the manner in which salary is ascertained for the purposes of calculating superannuation contributions, the timeframe within which an employee can elect to contribute for additional units of pension, and the prescribed period within which certain actions must be taken regarding superannuation. These regulations apply across the Commonwealth of Australia, ensuring a uniform approach to the administration of superannuation benefits. The regulations also include specific provisions for employees whose salary is not paid on an annual basis, mandating that their weekly salary be multiplied by 52 to determine their annual salary for superannuation purposes. While these regulations provide a comprehensive framework, certain aspects of their application may be further defined or extended through subordinate instruments issued under the authority of the Act.

Key Provisions

The Superannuation Regulations 1965, made under the Superannuation Act 1922-1965, amend the manner of ascertaining salary for pension purposes, the prescribed time and conditions for certain elections, and the prescribed time for making contributions. Firstly, Regulation 6 now specifies that the salary of an employee paid weekly is to be ascertained by multiplying the weekly salary rate by 52, replacing the previous method (Reg. 6(1)). Regulation 7 outlines that the period for an employee to elect to contribute for additional pension units is 12 months following a salary increase or the prescribed amount increase, provided they are not suffering from a physical or mental defect that would hinder their duties (Reg. 7(1) and (2)). Regulation 10 sets the prescribed time for making certain contributions at 12 months from the date of employment or the deemed employment date (Reg. 10). These regulations impose several obligations on both employers and employees. Employers must ensure that the salary ascertainment method aligns with the new regulation, particularly for those employees paid weekly. Employees, on the other hand, are required to elect to contribute for additional pension units within 12 months of a salary increase or the prescribed amount increase, subject to certain health conditions. The regulations also specify that employees have 12 months from their employment start date or deemed employment date to make certain contributions, as per Regulation 10. Failure to comply with these regulations can lead to various consequences. While the legislation does not explicitly detail penalties for non-compliance, breaches may result in civil or criminal consequences under the Superannuation Act 1922-1965. The penalties can vary depending on the severity and nature of the breach, but they may include fines or other legal actions to enforce compliance. It is essential for both employers and employees to adhere to these regulations to avoid any potential repercussions.

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