Superannuation (Resolution of Complaints) Regulations (Amendment) 1997 No. 9
EXPLANATORY STATEMENT
STATUTORY RULES 1997 NO. 9
Issued by the authority of the Assistant Treasurer
superannuation (Resolution of Complaints) Act 1993
Superannuation (Resolution of Complaints) Regulations (Amendment)
The Superannuation (Resolution of Complaints) Act 1993 (the Act) establishes the Superannuation Complaints Tribunal, which commenced operations on 1 July 1994. The Tribunal has the objectives of providing a fair, economical, informal and quick mechanism for:
* the conciliation of complaints made by members of certain regulated superannuation funds and approved deposit funds; and
* if conciliation is not successful at resolving the complaint - the review of the fund trustee decision to which the complaint relates.
Section 68 of the Act provides that the Governor-General may make Regulations for the purposes of the Act.
Section 10 of the Superannuation Industry (Supervision) Act 1993 (SIS Act) provides that an exempt public sector superannuation scheme (EPSSS) means a public sector superannuation scheme (a scheme established by or under a Commonwealth, State or Territory Act of Parliament) that is specified in regulations made for the purposes of this definition.
Section 4A of the Act enables regulations to be made to provide that a specified EPSSS is taken to be a regulated superannuation fund for the purposes of this Act. This enables State and Territory Governments to opt to allow members of an EPSSS to access the Tribunal in preference to the existing appeal rights of the EPSSS, which may more expensive and time consuming, for example, taking legal action through the courts. It also ensures consistent treatment of members of EPSSSs and members of regulated superannuation funds in relation to access to external review for superannuation complaints.
The Queensland State Government has requested that the Government Officers' Superannuation Scheme (Gosuper), Police Superannuation Fund (Police Super), State Public Sector Superannuation Scheme (Q Super) and State Service Superannuation Fund (State Super) be specified under section 4A of the Act so that the members of these schemes, without previous access, now have access to the Tribunal.
As required by section 4A of the Act, the nominated schemes are EPSSSs under the SIS Act, SIS Regulation 1.04(4A), and comply with subsections 19(2) and (3) of the SIS Act, ie, that the schemes must have a trustee that is a constitutional corporation pursuant to a requirement contained in the governing rules (defined in section 10 of the SIS Act to include legislation governing the establishment and operation of the scheme). Regulation 4A provides that an EPSSS specified in Schedule 1 is taken to be a regulated superannuation fund for the purposes of the Act.
The Regulations omit Schedule 1 and insert a new Schedule 1 into the Superannuation (Resolution of Complaints) Regulations which specifies that the following Queensland EPSSSs, Government Officers' Superannuation Scheme (Gosuper), Police Superannuation Fund (Police Super), State Public Sector Superannuation Scheme (Q Super) and State Service Superannuation Fund (State Super), are taken to be regulated superannuation funds for the purposes of the Act.
The Regulations will commence on 14 February 1997.
Overview
The Superannuation (Resolution of Complaints) Regulations (Amendment) 1997 No. 9 were enacted to amend the existing Superannuation (Resolution of Complaints) Regulations under the Superannuation (Resolution of Complaints) Act 1993. This Act, which was introduced to provide a fair, economical, informal and quick mechanism for the conciliation and review of complaints related to certain regulated superannuation funds and approved deposit funds, established the Superannuation Complaints Tribunal. The problem or gap these regulations address is the need to allow members of certain exempt public sector superannuation schemes (EPSSS) to access the Tribunal for complaints resolution, a facility not previously available to them. The policy objective, as stated, is to provide consistent treatment of members of EPSSSs and regulated superannuation funds in relation to access to external review for superannuation complaints, thereby offering an alternative to more expensive and time-consuming legal avenues such as court action. The regulations were issued by the authority of the Assistant Treasurer and came into effect on 14 February 1997.
Scope and Application
The Superannuation (Resolution of Complaints) Regulations (Amendment) 1997 No. 9 pertains to the Superannuation (Resolution of Complaints) Act 1993, which established the Superannuation Complaints Tribunal to provide a fair, economical, informal, and quick mechanism for conciliating complaints made by members of certain regulated superannuation funds and approved deposit funds. The Act applies to members of specific regulated superannuation funds, including those who can seek conciliation or review of fund trustee decisions through the Tribunal. The Amendment Regulations specify that certain exempt public sector superannuation schemes (EPSSS) in Queensland are to be considered regulated superannuation funds under the Act, thereby extending the Tribunal's jurisdiction to these schemes. This amendment allows members of the specified Queensland schemes—Government Officers' Superannuation Scheme, Police Superannuation Fund, State Public Sector Superannuation Scheme, and State Service Superannuation Fund—to access the Tribunal's services, providing them with an alternative to potentially more expensive and time-consuming legal actions. The Regulations, which came into effect on 14 February 1997, are issued under the authority of the Assistant Treasurer and are intended to ensure consistent treatment of members of these schemes with other regulated superannuation funds.
Key Provisions
The Superannuation (Resolution of Complaints) Regulations (Amendment) 1997 No. 9 amends the existing regulations under the Superannuation (Resolution of Complaints) Act 1993 (the Act) to include certain public sector superannuation schemes as regulated superannuation funds. This allows members of these schemes to access the Superannuation Complaints Tribunal for complaints resolution rather than going through more formal and potentially costly processes. Specifically, under section 4A of the Act, the Government Officers' Superannuation Scheme (Gosuper), Police Superannuation Fund (Police Super), State Public Sector Superannuation Scheme (Q Super) and State Service Superannuation Fund (State Super) are now specified as regulated superannuation funds, as per the amendment (section 4A).
The amendment imposes specific obligations on the parties governed by the Act. It mandates that these specified public sector superannuation schemes must comply with the requirements of the Act, particularly with respect to the resolution of complaints by members. The amendment ensures that members of these schemes have access to the Tribunal, which operates to provide a fair, economical, informal, and quick mechanism for conciliation and review of complaints (section 68). The amendment also ensures that these schemes meet the necessary criteria, including having a trustee that is a constitutional corporation as required by the Superannuation Industry (Supervision) Act 1993 (section 19(2) and (3) of the SIS Act).
The Superannuation (Resolution of Complaints) Regulations (Amendment) 1997 No. 9 does not explicitly state any new offences, penalties, or consequences for breaches of the amended regulations. However, any failure to comply with the Act or its regulations could potentially lead to legal repercussions under the broader legislative framework. For example, under the Superannuation Industry (Supervision) Act 1993, breaches of the Act may result in civil or criminal penalties, including fines and imprisonment, depending on the nature and severity of the breach. It is also possible that the Tribunal itself could impose penalties or sanctions for non-compliance with its processes or decisions.