19Actuarial investigation of the Scheme

19 Actuarial investigation of the Scheme S. 19(1)–(6) repealed by No. 31/1994 s. 4(Sch. 2 item 28). (7) The Board must arrange for an actuarial investigation into the financial position of the Scheme as at 30 June 1988 and at the end of each following period of three years to be made by an actuary appointed by the Board. (8) The Board must submit the actuary's report of the investigation to the Minister within six months after the end of each period of three years. S. 19(9) inserted by No. 82/1996 s. 9. (9) The Minister must cause each actuary's report submitted to him or her to be laid before the Legislative Council and the Legislative Assembly before the expiration of the seventh sitting day of the Legislative Council or the Legislative Assembly, as the case may be, after the actuary's report has been received by the Minister. Pt 3AA (Heading) inserted by No. 94/2005 s. 16. Part 3AA—Contributions and benefits S. 20 amended by No. 110/1993 s. 142(a). 20 Scheme may be supplemented by Consolidated Fund (1) If the amount to the credit of the Scheme is at any time insufficient to meet the benefits authorized to be paid out of the Scheme for— S. 20(1)(a) substituted by No. 37/2014 s. 10(Sch. item 54.3). (a) police officers; or S. 20(1)(ab) inserted by No. 94/2005 s. 17, amended by No. 20/2019 s. 169. (ab) officers or employees appointed by Fire Rescue Victoria under the **Fire Rescue Victoria Act 1958**; or S. 20(1)(ac) inserted by No. 94/2005 s. 17. (ac) officers or employees appointed by the Country Fire Authority under the **Country Fire Authority Act 1958** or members of the Country Fire Authority under that Act; or S. 20(1)(ad) inserted by No. 94/2005 s. 17. (ad) employees appointed by Ambulance Service—Victoria under the **Ambulance Services Act 1986** or employees appointed by any other ambulance service specified by the Minister; or S. 20(1)(ae) inserted by No. 38/2009 s. 7. (ae) protective services officers other than eligible protective services officers; or S. 20(1)(af) inserted by No. 38/2009 s. 7. (af) eligible protective services officers to whom section 4(7A) applies; or S. 20(1)(b) amended by No. 46/1998 s. 7(Sch. 1). (b) any other group of contributors which is specified by the Minister— money may from time to time be issued and applied out of the Consolidated Fund (which is hereby to the necessary extent appropriated accordingly) to meet the insufficiency. S. 20(2) inserted by No. 110/1993 s. 142(b). (2) This section does not apply in respect of the ESSPLAN Scheme. S. 20A inserted by No. 64/1991 s. 6, amended by No. 53/1993 s. 3(a)–(c), repealed by No. 110/1993 s. 143, new s. 20A inserted by No. 82/1996 s. 10. 20A Contributions S. 20A(1) amended by No. 67/2013 s. 649(Sch. 9 item 15(1)). (1) Subject to subsection (2), a contributor must make contributions to the Scheme on each date for payment of salary or, except when the contributor has become entitled to a benefit under section 20D, 20F, 20J or 20K, periodic payments under the **Accident Compensation Act 1985** or the **Workplace Injury Rehabilitation and Compensation Act 2013**. (2) Subject to subsections (5), (6), (7) and (8), a contributor may elect to make no contributions or to make contributions at a rate of 3%, 5%, 6%, 7% or 8% of salary. S. 20A(2AA) inserted by No. 36/2019 s. 4(1). (2AA) Subject to subsection (7A), from 1 July 2019 a contributor may also elect to make contributions at a rate of 9% or 10% of salary. S. 20A(2A) inserted by No. 94/2005 s. 18, amended by No. 36/2019 s. 4(2). (2A) An eligible salary sacrifice contributor may by notice in writing to his or her employer elect to make his or her member contributions by way of salary sacrifice at the rate calculated to the nearest highest 0⋅1% in accordance with the following formula— **M** is the applicable member contribution rate in accordance with subsection (2) or (2AA) without salary sacrifice; **R** is the tax rate for the financial year on taxable contributions to the Scheme under the Income Tax Assessment Act 1936 of the Commonwealth. S. 20A(2B) inserted by No. 94/2005 s. 18. (2B) An election under subsection (2A)— (a) can only be made if there is in force an agreement between the employer and the contributor under which the employer can make the member contributions required by this Act by way of salary sacrifice; (b) is subject to the terms and conditions specified in the agreement referred to in paragraph (a); (c) can only be made in respect of the whole of the member contributions; S. 20A(2B)(d) amended by No. 36/2019 s. 4(2). (d) can not be made in respect of any contributions made by a contributor in addition to the member contributions required under subsection (2) or (2AA). S. 20A(2C) inserted by No. 94/2005 s. 18. (2C) Member contributions made in accordance with the rate determined under subsection (2A) are for the purposes of this Act (other than sections 25B to 25C) to be taken to be— (a) the member contributions required to be paid under this Act; and (b) the member contributions that would have been payable if an election had not been made under subsection (2A). Note to s. 20A(2C)(b) inserted by No. 37/2007 s. 6. **Note** The effect of paragraph (b) is that, for the purpose of calculating benefit entitlements, the member contributions are taken to be the member contributions that would have been payable if no election had been made. S. 20A(2D) inserted by No. 94/2005 s. 18. (2D) An election under subsection (2A) does not affect the amount that would otherwise constitute the salary of the contributor for the purposes of this Act. (3) The contributions payable by a part-time contributor are that proportion of the contributions otherwise determined in accordance with this section that the service of the part-time contributor (at the time the contributions fall due) bears to the service of a person in similar employment on a full-time basis. S. 20A(3A) inserted by No. 43/2008 s. 7. (3A) For the purposes of subsection (3), the Board may review the contributions payable by a part-time contributor. S. 20A(3B) inserted by No. 43/2008 s. 7. (3B) If after a review under subsection (3A), the Board considers that the contributions paid by the part-time contributor during the period reviewed do not bear the same proportion to the contributions otherwise determined in accordance with this section that the service of the part-time contributor bears to the service of a person in similar employment on a full-time basis, the Board may require the part-time contributor to make additional contributions as determined by the Board. S. 20A(4) substituted by No. 32/2025 s. 10. (4) A contributor may vary the rate of contribution in accordance with the policy determined by the Board, which must allow a contributor to vary the rate of contribution at least once each calendar year. (5) A contributor who is not an operational staff member is permitted to contribute at a rate of 6% of salary only if the contributor is a transferred officer. (6) A contributor who is not an operational staff member is permitted to contribute at a rate of 7% of salary only if the contributor is a transferred officer. (7) A contributor is permitted to contribute at a rate of 8% of salary only if at the time of the first election under this section or at any subsequent date on which contributions may be varied— (a) the contributor is a transferred officer and has contributed to the Fund established under the **Superannuation Act 1958** and the Scheme for a total period of not less than 5 years; or (b) the contributor is a transferred officer and has contributed to the Fund established under the **Metropolitan Fire Brigades Superannuation Act 1976** and the Scheme for a total period of not less than 15 years; or (c) the contributor is a transferred officer and has contributed to the Fund established under the **Hospitals Superannuation Act 1965** and the Scheme for a total period of not less than 10 years; or (d) the contributor is an operational staff member whose average contribution rate is less than 7% of his or her salary for each year of his or her membership. S. 20A(7A) inserted by No. 36/2019 s. 4(3). (7A) A contributor is permitted to contribute at a rate of 9% or 10% of salary only if at the time of the first election under this section or at any subsequent date on which contributions may be varied, the contributor is an operational staff member whose average contribution rate is less than 7% of their salary over the whole of their period of membership as at the time of the election. S. 20A(8) amended by No. 36/2019 s. 4(4). (8) Contributions must cease when the accrued benefit of the member equals the maximum specified in section 20C or if the contributor has elected to take a transition to retirement pension under section 20T, the reduced maximum under section 20T(4). (9) The Board may at its discretion accept on behalf of a contributor a transfer of money or other assets from an approved superannuation arrangement. (10) Contributors must make elections under this section in the form specified by the Board. (11) Employers must deduct contributions from the salaries of contributors and pay them without deduction to the Board. (12) On and from 1 January 1994 a contributor who had been a contributor at the rate of 9% of salary prior to 1 January 1994 is to be deemed to have elected to contribute at a rate of 8% of salary with effect from the first full pay day in January 1994. S. 20A(13) inserted by No. 36/2019 s. 4(5). (13) Subject to subsection (16), for the purposes of making contributions, the salary upon which the contributor is to make contributions is to be fixed as at 1 July each year. S. 20A(14) inserted by No. 36/2019 s. 4(5). (14) The employer must within the period of 2 months after 1 July each year notify the Board of any change in the salary of the contributor for the purpose of making contributions. S. 20A(15) inserted by No. 36/2019 s. 4(5). (15) The salary as notified in accordance with subsection (14), or if there is no notification in accordance with subsection (14), the last salary notified, is the salary for the purposes of making contributions for the period commencing on 1 September each year and ending on 31 August in the following year. S. 20A(16) inserted by No. 36/2019 s. 4(5). (16) If the contribution that a member is liable to make changes because of— (a) an election by the member under this section, the contributions are to be adjusted from the date on which the Board accepts the election; (b) a change in the time fraction basis of their employment, the contributions are to be adjusted from the date on which the change to the time fraction basis of their employment took effect. S. 20AA inserted by No. 36/2019 s. 5. 20AA Additional contributions (1) If the accrued benefit of a contributor has reached— (a) the maximum specified in section 20C(2); or (b) if the contributor has elected to take a transition to retirement pension under section 20T, the multiple of the salary of the contributor that applies under section 20T(4)— the employer of the contributor must pay additional contributions in respect of the contributor based on the contributor's actual current salary in accordance with the Table in subsection (2). (2) The Table referred to in subsection (1) is— | **Year** | **Rate as a percentage of salary** | | 2019-2020 | 3 | | 2020-2021 | 3 | | 2021-2022 | 6 | | 2022-2023 | 6 | | 2023-2024 | 8 | | 2024-2025 | 9 | | 2025-2026 | 11 | | 2026-2027 | 12 | S. 20B inserted by No. 82/1996 s. 10.