{"id":"F2010L00613","name":"Superannuation (CSS) Assets Transfer (PSS Fund) Determination No. 10","slug":"superannuation-css-assets-transfer-pss-fund-determination-no-10","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":123682,"registerId":"commonwealth-F2010L00613-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (CSS) Assets Transfer (PSS Fund) Determination No. 10","content":"COMMONWEALTH OF AUSTRALIA\n\nSuperannuation Act 1976\n\nSuperannuation (CSS) Assets Transfer\n\n(PSS Fund) Determination No. 10\n\nI, Lochiel Crafter, Chief Executive Officer, delegate of the Australian Reward Investment Alliance, make this Determination under subsection 248(1) of the Superannuation Act 1976, in accordance with a resolution of Australian Reward Investment Alliance dated 19 February 2010.\n\nDated: 3 March 2010\n\nLochiel Crafter\n\nDelegate of Australian Reward Investment Alliance\n\nCitation\n\n1.  This Determination may be cited as Superannuation (CSS) Assets Transfer (PSS Fund) Determination No. 10.\n\nInterpretation\n\n2. In this Determination:\n\n“exit day”, in relation to a transferee, means the day before the transferee became a member of the Public Sector Superannuation Scheme established under the Superannuation Act 1990;\n\n“relevant date” means the last day of the financial year before the election was made;\n\n“second relevant date” means the last day of the financial year after the election was made;\n\n“the Act” means the Superannuation Act 1976;\n\n“the PSS” means the superannuation scheme established under the Superannuation Act 1990 and known as the Public Sector Superannuation Scheme;\n\n“the transfer day” means 31 January 2010; and\n\n“the transferee” means a person referred to in section 245 of the Act who became a member of the PSS in the period from 1 July 2004 to 30 June 2007.\n\nTransfer of assets\n\n3. For the purposes of paragraph 248(1)(a) of the Act, CSS Fund assets at the end of the transfer day fairly and equitably represent as nearly as is practicable the sum of the transfer amounts calculated in accordance with the formula in clause 4 that are to be transferred on the transfer day to the PSS Fund.  \n\n4. The formula for calculation of a transfer amount in respect of transferees is:  \n\n((A+B+C) x D)\n\nWhere:\n\n“A” is calculated by the formula\n\nF x (1+r)\n\nin which, for each Schedule:\n\n“F” is the share of CSS Fund assets as at the end of the relevant day that represented, after deduction of all known liabilities, the amounts specified in Column 5 of the Schedule, attributable to the number of transferees specified in Column 2 of the Schedule who became members of the PSS on the day following the exit day specified in Column 1 of the Schedule.\n\n“r” is the rate of return of the CSS Fund for the period beginning on the day after the relevant day and ending on the second relevant day;\n\n“B” is the amount specified in Column 6 of the Schedule;\n\n“C” is the interest applicable to the amounts in Column 6 of the Schedule by applying the rate of return of the CSS Fund for the period beginning on the day after the relevant day and ending on the second relevant date;\n\n“D” is calculated by the formula\n\n1 +r\\*\n\nin which “r\\*” is the rate of return of the CSS Fund for the period beginning on the day following the second relevant day specified in Column 4 of the Schedule and ending on the transfer day.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\n  \nSchedule 1\n\n| Column 1Exit Day | Column 2Number of transferees | Column 3 Relevant Date | Column 4Second Relevant Date | Column 5Value of accumulated contributions and employer contributions and earnings as at relevant date$ | Column 6Value of contributions and employer contributions in the election year$ | Column 7Total value of contributions |\n| ---------------- | ----------------------------- | ---------------------- | ---------------------------- | ------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------- | ------------------------------------ |\n| 01/11/2004       | 1                             | 30/6/2006              | 30/06/2007                   | 130,989                                                                                                 | 723                                                                             | 134,712                              |\n| 09/05/2005       | 1                             | 30/6/2006              | 30/06/2007                   | 87,734                                                                                                  | 2,756                                                                           | 90,490                               |\n| 03/05/2006       | 1                             | 30/6/2006              | 30/06/2007                   | 66,777                                                                                                  | 647                                                                             | 67,424                               |","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"The Determination specifies how CSS Fund assets are to be allocated and transferred to the PSS Fund for a defined class of transferees (those who became PSS members between 1 July 2004 and 30 June 2007). It does not expand or narrow the class beyond the persons referenced in section 245 of the Act; rather it sets the mechanical method and dates for calculating and effecting the transfers under subsection 248(1)."},"complexity_factors":["Mathematical formula with multiple components (clause 4): A, B, C and multiplier D must be computed and combined.","Multiple date definitions and rolling periods (clause 2 and clause 4): 'relevant date', 'second relevant date', 'transfer day' and 'exit day' create overlapping interest periods.","Use of fund rates of return for distinct periods (clause 4): 'r' and 'r*' require historical return calculation for different windows.","Schedule-specific data (Schedule 1): per-transferee values, exit days and contribution amounts must be matched precisely.","Requirement that assets 'fairly and equitably represent' transfer amounts (clause 3): implies actuarial or administrative judgment in allocating fund assets.","Requirement to deduct 'all known liabilities' when calculating F (clause 4): introduces valuation and timing issues for liabilities.","Fixed transfer day and delegated authority (preamble and clause 2): a single transfer date (31/01/2010) concentrates operational execution.","Cross-reference to Superannuation Act 1976 (s.248(1) and s.245): the Determination operates within statutory delegation and affects persons defined by the Act.","Administrative burden: need for historical data, matching members to schedule entries, and precise interest/return computations."],"plain_english_summary":"This Determination directs that specified amounts of CSS Fund assets be transferred to the PSS Fund on 31 January 2010 to represent members who moved from the CSS to the PSS between 1 July 2004 and 30 June 2007. It prescribes a numeric formula that uses historic CSS asset shares, schedule amounts, and CSS Fund rates of return to calculate each transferee’s transfer amount. Practically, the CSS Fund provides the assets and administrators must compute multi-period returns, deduct liabilities and apply the schedule to determine who pays what."},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This determination remains tightly scoped to its original purpose: calculating asset transfers for a specific cohort of CSS-to-PSS transferees. It does not expand beyond the statutory authority in section 248(1) of the Superannuation Act 1976."},"complexity_factors":["Nested mathematical formulas with multiple variables (A, B, C, D, F, r, r*) that reference each other","7 defined terms in the interpretation section, several of which are date-dependent and interlocking ('exit day', 'relevant date', 'second relevant date', 'transfer day')","Cross-references to external legislation (Superannuation Act 1976, Superannuation Act 1990) and specific sections (245, 248)","Tabular data structure (Schedule) with 7 columns of financial data that the formulas depend on","Temporal complexity: calculations span multiple financial years (2004-2010) with different rates of return applied to different periods","Conditional logic embedded in definitions ('day before', 'day following', 'period from...to')","Technical financial terminology requiring actuarial knowledge to fully verify (rates of return, accumulated contributions, employer contributions)"],"plain_english_summary":"This instrument directs a one-off transfer of retirement savings from the Commonwealth Superannuation Scheme (CSS) to the Public Sector Superannuation Scheme (PSS) for three public servants who moved schemes between 2004–2007. It prescribes the accounting calculation used on 31 January 2010 so each transferee’s accumulated balance plus investment earnings and final-year contributions move with them — a technical step totalling about $292,626 to protect those members’ entitlements."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-css-assets-transfer-pss-fund-determination-no-10","history":"/api/acts/superannuation-css-assets-transfer-pss-fund-determination-no-10/history","analysis":"/api/acts/superannuation-css-assets-transfer-pss-fund-determination-no-10/analysis","conflicts":"/api/acts/superannuation-css-assets-transfer-pss-fund-determination-no-10/conflicts","importantCases":"/api/acts/superannuation-css-assets-transfer-pss-fund-determination-no-10/important-cases","documents":"/api/acts/superannuation-css-assets-transfer-pss-fund-determination-no-10/documents"}}