What it does
The Governance of Australian Government Superannuation Schemes Act 2011 establishes and governs the Commonwealth Superannuation Corporation (CSC) as the single body responsible for administering all major Australian Government superannuation schemes. Before CSC was created, multiple separate bodies administered different Commonwealth superannuation schemes. This Act consolidated governance into a single trustee corporation.
The Act has two core purposes stated in s 3: to provide for administration of certain Australian Government superannuation schemes, including military schemes, by a single body; and to ensure that when CSC performs functions under military schemes, it has regard to the unique nature of military service.
The Act establishes CSC, its Board, its governance framework, its financial obligations, and its accountability to the Parliament. It does not create the superannuation schemes themselves: each scheme has its own enabling legislation (listed in the definition of "Act administered by CSC" in s 4). CSC's function under each scheme is to administer that scheme under and subject to the relevant Act.