Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025

Administered by Department of the Treasury

Legislation au F2025L00865 Regulations Not in force Legislative Instrument

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EXPLANATORY STATEMENT

Issued by authority of the Assistant Treasurer and Minister for Financial Services

Superannuation (Unclaimed Money and Lost Members) Act 1999

Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025

Section 50 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 (the Act) provides that the Governor‑General may make regulations prescribing matters required or permitted by the Act to be prescribed, or necessary or convenient to be prescribed for carrying out or giving effect to the Act.

The purpose of the Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025 is to prescribe additional public sector superannuation schemes in the relevant list under the Superannuation (Unclaimed Money and Lost Members) Regulations 2019.

The Act requires superannuation providers to report and pay certain amounts to the Commissioner of Taxation. Amounts received by the Commissioner of Taxation can then be paid to the persons entitled to them or paid into funds in which the member is active. The payment provisions in the Act generally do not apply to public sector superannuation schemes unless they are prescribed for that purpose. Part 7 of the Superannuation (Unclaimed Money and Lost Members) Regulations 2019 lists prescribed public sector superannuation schemes to enable superannuation providers to pay unclaimed money, unclaimed superannuation of former temporary residents, inactive low-balance accounts, and lost member accounts to the Commissioner of Taxation.

A number of Western Australian public sector superannuation schemes have already been prescribed in Part 7. The additional Western Australian public sector superannuation schemes are being prescribed by the proposed Regulations at the request of the Western Australian Government. As these proposed Regulations implement that request, and they are minor or machinery in nature, consultation was not undertaken.

The Act does not specify any conditions that need to be satisfied before the power to make the Regulations may be exercised.

The Regulations are a legislative instrument for the purposes of the Legislation Act 2003 and are subject to disallowance and sunsetting.

The Regulations commenced on the day after registration.

Details of the Regulations are set out in Attachment A.

A Statement of Compatibility with Human Rights is at Attachment B.

The regulations are exempt from a Statement of Compatibility with Objectives under paragraph 7(3)(b) of the Superannuation (Objective) Act 2024, as the although the Regulations relate to superannuation, they are of a minor or technical nature.

ATTACHMENT A

Details of the Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025

Section 1 – Name

This section provides that the name of the regulations is the Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025 (the Regulations).

Section 2 – Commencement

Schedule 1 to the Regulations commenced on the day after the instrument is registered on the Federal Register of Legislation.

Section 3 – Authority

The Regulations are made under the Superannuation (Unclaimed Money and Lost Members) Act 1999 (the Act).

Section 4 – Schedule

This section provides that each instrument that is specified in the Schedules to this instrument are amended or repealed as set out in the applicable items in the Schedules, and any other item in the Schedules to this instrument has effect according to its terms.

Schedule 1 – Amendments

Item 1 – section 17A

The table in section 17A of the Superannuation (Unclaimed Money and Lost Members) Regulations 2019 lists prescribed public sector superannuation schemes eligible to pay voluntary amounts to the Commissioner of Taxation where such amounts do not satisfy the criteria of the other transfer regimes and where it is in a member’s best interests to do so, for the purposes of section 22D of the Act.

Item 1 updates this list by adding the Government Employee Superannuation Board (GESB) Super (Retirement Access) Scheme, GESB Super Scheme, Gold State Super Scheme and the West State Super Scheme (all established by the State Superannuation Act 2000 (WA)), to the table. These schemes were prescribed at the request of the Western Australian Government.


ATTACHMENT B

 

Statement of Compatibility with Human Rights

Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011

Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025

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.

Overview of the Legislative Instrument

The purpose of the Regulations is to prescribe additional public sector superannuation schemes in the relevant lists under the Superannuation (Unclaimed Money and Lost Members) Regulations 2019, at the request of the Western Australian Government.

Part 7 of the Superannuation (Unclaimed Money and Lost Members) Regulations 2019 lists prescribed public sector superannuation schemes. Part 7 of the Regulations prescribes certain public sector superannuation schemes to enable them to pay unclaimed money, unclaimed superannuation of former temporary residents, inactive low-balance accounts, and lost member accounts.

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.

Overview

The Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025 were enacted to address the need for updating the list of prescribed public sector superannuation schemes eligible to transfer certain amounts to the Commissioner of Taxation. This amendment responds to a request from the Western Australian Government to include additional Western Australian schemes in the existing regulatory framework. The regulations aim to ensure these schemes can comply with the Act's requirements for reporting and transferring unclaimed money and related superannuation amounts. The Regulations were made under the authority of the Superannuation (Unclaimed Money and Lost Members) Act 1999 and commenced on the day after their registration. Notably, the Regulations are minor and technical in nature, thereby exempting them from certain scrutiny processes, including the requirement for a Statement of Compatibility with Objectives under the Superannuation (Objective) Act 2024.

Scope and Application

The Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025 applies to superannuation providers and certain public sector superannuation schemes in Western Australia. The regulations are designed to enhance the existing framework by prescribing additional public sector superannuation schemes that are eligible to pay voluntary amounts to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999. These prescribed schemes include the Government Employee Superannuation Board (GESB) Super (Retirement Access) Scheme, GESB Super Scheme, Gold State Super Scheme, and the West State Super Scheme, which were requested to be included by the Western Australian Government. The purpose of these regulations is to ensure that unclaimed money, unclaimed superannuation of former temporary residents, inactive low-balance accounts, and lost member accounts can be managed effectively and paid to the rightful beneficiaries. The regulations are minor and technical in nature, thus consultation was not undertaken. They are subject to disallowance and sunsetting and are exempt from a Statement of Compatibility with Objectives under the Superannuation (Objective) Act 2024.

Key Provisions

The Superannuation (Unclaimed Money and Lost Members) Amendment (2025 Measures No. 1) Regulations 2025 (Regulations) primarily concern the amendment of the existing Superannuation (Unclaimed Money and Lost Members) Regulations 2019. Specifically, they focus on updating the list of prescribed public sector superannuation schemes that can pay certain amounts to the Commissioner of Taxation (section 17A). These payments pertain to unclaimed money, unclaimed superannuation of former temporary residents, inactive low-balance accounts, and lost member accounts. The Regulations add four Western Australian public sector superannuation schemes to this list, namely the Government Employee Superannuation Board (GESB) Super (Retirement Access) Scheme, GESB Super Scheme, Gold State Super Scheme, and the West State Super Scheme, as established by the State Superannuation Act 2000 (WA) (Schedule 1, Item 1). This update is in response to a request from the Western Australian Government. The Regulations impose specific obligations on superannuation providers who manage the listed public sector superannuation schemes. These providers are required to report and remit certain amounts to the Commissioner of Taxation. This includes ensuring that amounts received by the Commissioner are paid to the entitled individuals or placed into active funds where the member is active. This is intended to ensure that unclaimed or inactive superannuation funds are managed appropriately and ultimately returned to those who are entitled to them (section 22D of the Superannuation (Unclaimed Money and Lost Members) Act 1999). There are no explicit offences, penalties, or civil/criminal consequences outlined in the Regulations for failing to comply with the reporting and payment obligations. However, the underlying Superannuation (Unclaimed Money and Lost Members) Act 1999 does contain provisions that could apply if a superannuation provider fails to comply with the requirements to report and pay unclaimed or inactive superannuation funds. These could include administrative penalties or actions taken by the Commissioner of Taxation. The Regulations, being minor and technical in nature, are subject to disallowance and sunsetting as per the Legislation Act 2003. The Regulations came into effect the day after their registration.

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Superannuation Law
Instrument
Regulation
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Definitions & Interpretation
Licensing & Registration
Reporting & Disclosure Obligations

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.