EXPLANATORY STATEMENT
STATUTORY RULES 1984 NO: 264
ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE
SUPERANNUATION ACT 1976 - SUPERANNUATION (RETIRING AGE) REGULATIONS (AMENDMENT)
Section 168 of the Superannuation Act 1976 (the Act) provides that the Governor-General may make regulations, not inconsistent with the Act, prescribing all matters which the Act requires or permits to be prescribed or which are necessary or convenient to be prescribed for carrying out or giving effect to the Act.
Sub-section 3(1) of the Act defines “minimum retiring age” as 60 years or such lesser age as, under regulations made under the Act, is the minimum retiring age applicable to a person or class of persons.
A contributor with more than one year’s contributory service who retires voluntarily on or after attaining age 60, is entitled to be paid an age retirement pension in accordance with Division 1 and, if appropriate, a lump sum in accordance with Division 3 of Part V of the Act. A contributor who, under his terms and conditions of employment, is able to retire voluntarily after attaining an age less than 60 is entitled upon such voluntary retirement to be paid an early retirement pension in accordance with Division 2 and, if appropriate, a lump sum in accordance with Division 3 of Part V, provided that lesser age has been prescribed in the Superannuation (Retiring Age) Regulations as the minimum retiring age in respect of the class of persons within which the contributor falls.
Regulation 5 of the Superannuation (Retiring Age) Regulations already specifies age 55 as the “minimum retiring age” for the purposes of the Act in relation to certain persons and classes of persons.
Officers equivalent to former officers of the Second Division of the Public Service (to be known from 1 October 1984 as the Senior Executive Service) are entitled to receive early retirement superannuation pensions if retirement occurs at ages 55 to 59 through the prescription in the Superannuation (Retiring Age) Regulations of a minimum retiring age of 55 years for persons who, in accordance with the provisions of the Commonwealth Employees (Redeployment and Retirement) Act 1979 (the CE(RR) Act), have a minimum retiring age of 55 years. However, provisions of the Public Service Reform Act 1984 (Act No. 63 assented to 25 June 1984) which operate from 1 October 1984 amend the CE(RR) Act with effect from that date by removing
officers of the Senior Executive Service from the scope of that Act. Those provisions also amend the Public Service Act 1922 with effect from 1 October 1984 to include a new Division 8B in Part 111 of the Act which provides a minimum retiring age of 55 years for officers of the Senior Executive Service other than those appointed on a fixed term basis.
The Regulations amend the Superannuation (Retiring Age) Regulations to prescribe a minimum retiring age for the purposes of the Act of 55 years for officers of the Senior Executive Service other than those appointed on a fixed term basis. This continues the entitlement that existed prior to 1 October 1984 for such persons to receive early retirement pensions where they take advantage of the early retirement provisions of their conditions of service by retiring voluntarily at ages 55 to 59.
The Regulations operate from 1 October 1984.