34Superannuation Legislation Amendment Act 2025—definition of *salary*

34 Superannuation Legislation Amendment Act 2025—definition of *salary* (1) Subject to this section, the definition of ***salary***, as in force immediately before the commencement day, continues to apply for the purposes of this Act to a contributor who, on the commencement day, is engaged under a contract of employment that was entered into before the commencement day. (2) The definition of ***salary***, as in force from the commencement day, is taken to apply for the purposes of this Act to a contributor if— (a) the contributor made an informal election on or after 2 June 2022 and before the commencement day; or (b) the contributor makes an election to that effect on or after the commencement day and no later than 6 months after the commencement day. (3) If a contributor has made an informal election or an election under subsection (2)(b) and as a result of that election, the Board considers that the contributions paid by the contributor during the contributor's pre-election employment period do not bear the same proportion to the required contributions otherwise determined in accordance with section 20A, the Board may require the contributor to contribute the amount of the shortfall by— (a) making additional contributions or a lump sum payment in a manner determined by the Board; or (b) deducting the shortfall amount from the contributor's final benefit. (4) In this section— ***commencement day*** means the date of commencement of section 3 of the **Superannuation Legislation Amendment Act 2025**; ***informal election*** means an election by a contributor engaged under a contract of employment to have the contributions of the contributor under this Act determined on the basis of 90 per cent of the remuneration specified in the contributor's contract of employment; ***pre-election employment period***, for a contributor, means the date of commencement of the contributor's contract of employment and ending on the date on which the contributor— (a) made an informal election; or (b) makes an election under subsection (2)(b). New s. 35 inserted by No. 32/2025 s. 13.