Div 2ASuperannuation benefits for PSS 3 members

Division 2A—Superannuation benefits for PSS 3 members 21AB—Application of Division This Division applies in relation to PSS 3 members. 21AC—Interpretation In this Division— co-contribution component in relation to a member means the amount standing to the credit of the member's co‑contribution account; Government-funded component in relation to a member (other than a member who is a PSS 3 member by virtue only of section 7F) means the amount standing to the credit of the member's Government contribution account; member-funded component in relation to a member (other than a member who is a PSS 3 member by virtue of section 7F or 7G) means the amount standing to the credit of the member's contribution account; rollover component in relation to a member means the amount standing to the credit of the member's rollover account. 21ACA—Early access to superannuation benefits in case of severe financial hardship or on compassionate grounds (1) A PSS 3 member may apply to the Board for the early release of an amount of the member's benefit— (a) if the member is in severe financial hardship; or (b) on a compassionate ground. (2) The Board may require that an application under subsection (1) be made in such manner, comply with such requirements and be on such terms and conditions as the Board thinks fit. (3) The Board must, on receipt of an application under subsection (1), determine whether, in the Board's opinion, if the SIS regulations applied, the member would be taken for the purposes of those regulations— (a) to be in severe financial hardship; or (b) to satisfy a condition of release on a compassionate ground. (4) If the Board makes a determination that subsection (3)(a) or (b) applies to the member, the Board must— (a) determine the maximum amount that the SIS regulations would permit to be paid to the member in those circumstances; and (b) if the Board considers it appropriate to do so in all the circumstances, pay to the member— (i) the amount applied for by the member; or (ii) the amount determined by the Board under paragraph (a); or (iii) the combined balance of the member‑funded component, the Government‑funded component, the rollover component (if any) and the co‑contribution component (if any) (subject to any minimum account balance required by the Board), whichever is the lesser. (5) If the Board makes a payment to a PSS 3 member under subsection (4)(b), the Board must debit the amount of the payment against the member's employee contribution account or, if the credit balance of the member's contribution account is not sufficient to make the payment, the member's Government contribution account, rollover account or co‑contribution account. (6) A member making an application under subsection (1) must furnish the Board with any information that it requires for the purposes of making a determination under this section. compassionate ground and condition of release have the same respective meanings as in Part 6 of the SIS regulations; severe financial hardship has the same meaning as in Part 6 of the SIS regulations; SIS regulations means the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth. 21AD—Retirement at or above age 55 (1) A PSS 3 member who— (a) has retired (either voluntarily or involuntarily); and (b) has reached the age of 55 years, is entitled to payment of the member-funded component and the Government-funded component and to payment of the rollover component (if any) to the extent that that payment can be made in accordance with the SIS Act. (2) Subject to subsection (3), a PSS 3 member who does not apply to the Board in writing for the payment of an entitlement under subsection (1) within 3 months after retirement will be taken to have preserved the relevant components and section 21AF will apply to and in relation to them. (3) A PSS 3 member who has retired and reached the age of 70 years must immediately be paid any entitlement under subsection (1). (4) However, a rollover component, or part of a rollover component, that cannot be paid in accordance with the SIS Act must be preserved and section 21AF will apply to and in relation to it. (5) This section does not apply to or in relation to a case involving the death of a PSS 3 member (see section 21AH) and does not derogate from the ability of a member to apply for a benefit under section 21AG (rather than taking a benefit under this section). 21AE—Cessation of membership before age 55 (1) Subject to this section, a PSS 3 member who retires (either voluntarily or involuntarily) before reaching the age of 55 years may— (a) elect— (i) to take immediately the member-funded component; or (ii) to preserve the member-funded component; or (iii) to carry the member-funded component over to another superannuation fund or scheme that is a complying superannuation fund (as a preserved employee component); and (b) elect— (i) to preserve the Government-funded component; or (ii) to carry the Government-funded component over to another superannuation fund or scheme that is a complying superannuation fund (as a preserved employer component); and (c) elect— (i) to take immediately the rollover component (if any) to the extent that payment of that component can be made in accordance with the SIS Act; or (ii) to preserve the rollover component; or (iii) to carry the rollover component over to another superannuation fund or scheme that is a complying superannuation fund. (2) A PSS 3 member who does not inform the Board in writing of his or her election under subsection (1) within 3 months after ceasing to be a member will be taken to have elected to preserve the relevant components and section 21AF will apply to and in relation to them. (3) If the Board is of the opinion that the limitation period referred to in subsection (2) would unfairly prejudice a member, the Board may extend the period that applies to the member. (4) A PSS 3 member who has elected, or has been taken to have elected, to preserve his or her member-funded component, Government-funded component or rollover component and to whom the component has not been paid under section 21AF, may elect to withdraw the election and to elect to carry the component over to a complying superannuation fund. (5) If 2 or 3 components have been preserved, a member cannot make an election under subsection (4) to carry 1 or 2 but not both or all of them over. (6) If a member elects to carry over a component to a complying superannuation fund, the following provisions apply: (a) the member must satisfy the Board by such evidence as it may require that he or she has been admitted to membership of the fund; and (b) on being so satisfied the Board will authorise payment of the component on behalf of the member to the fund. (7) If a PSS 3 member has ceased to be a member of the Parliament of the State and has elected to preserve the member-funded, Government-funded or rollover component but has subsequently again become a member of the Parliament, the Board may maintain separate member's contribution accounts or Government contribution accounts or rollover accounts or a combined member's contribution account or Government contribution account or rollover account in the name of the member. (8) This section does not apply to or in relation to a case involving— (a) a cessation of membership on the ground of invalidity (in circumstances entitling the member to a benefit under section 21AG); or (b) the death of a PSS 3 member (see section 21AH). 21AF—Preservation of components (1) If a superannuation component has been preserved under section 21AD(2) or (4) or 21AE, then the following provisions will apply (subject to subsection (2)): (a) the Board must in relation to a component preserved under section 21AE, not less than 6 months before the relevant member's 55th birthday (unless that period has already been reached), notify the relevant member in writing of his or her entitlement to require the Board to make a payment under paragraph (b); (b) the relevant member may at any time after reaching 55 years of age require the Board to authorise payment of the component and, if no such requirement has been made on or before the date on which the member reaches 70 years of age, the Board will authorise payment of the component to the member; (c) if the relevant member has become incapacitated and satisfies the Board that his or her incapacity for all kinds of work is 60 per cent or more of total incapacity and is likely to be permanent, the Board will authorise payment of the component to the member; (d) if the relevant member dies, the component will be paid— (i) if the member has a legal personal representative—to the representative; and (ii) if the member does not have a legal personal representative but is survived by a spouse—to the spouse; and (iii) if the member does not have a legal personal representative and is not survived by a spouse—to the member's estate, (and a payment under any of the above paragraphs excludes further rights so that a claim cannot be subsequently made under some other paragraph). (2) Subsection (1) applies to a rollover component subject to restrictions imposed by the SIS Act. 21AG—Cessation of membership on ground of invalidity (1) If— (a) a PSS 3 member ceases to be a member of the Parliament of the State before reaching the age of 70 years; and (b) a judge is satisfied that the cessation is due to ill health that prevents the member from being able to carry out the duties of office to a reasonable degree, then the member is entitled to benefits made up of the following components: (c) the member-funded component; and (d) the Government-funded component; and (e) the rollover component (if any); and (f) subject to this section, the invalidity insurance benefit (if any) for PSS 3 members (see section 21AI). (2) The invalidity insurance benefits are not payable unless the Board is satisfied that the member's incapacity for all kinds of work is 60 per cent or more of total incapacity and is likely to be permanent. (3) The invalidity insurance benefit is not payable to a member within 1 year after becoming a PSS 3 member unless the Board is satisfied (by the production of such evidence as the Board thinks fit) that— (a) the invalidity is attributable to a medical condition arising after the member became a PSS 3 member and is not attributable (or is not attributable in any material degree) to a medical condition existing before the member became a PSS 3 member; or (b) the invalidity is attributable to a medical condition existing before the member became a PSS 3 member in a situation where, at the time of becoming a PSS 3 member, there was no reason for the member to believe that such a condition existed; or (c) the invalidity was caused by accidental injury. (4) A member who claims to be entitled to benefits under this section (or a person acting on his or her behalf) must make the claim (being a claim for benefits that have not otherwise been paid) to the Board within 3 months after ceasing to be a member of the Parliament of the State. 21AH—Death of PSS 3 member (1) Subject to this section, a payment will be made as follows on the death of a PSS 3 member: (a) if the deceased member has a legal personal representative—a payment will be made to the representative; and (b) if the deceased member does not have a legal personal representative but is survived by a spouse—a payment will be made to the spouse; and (c) if the deceased member does not have a legal personal representative and is not survived by a spouse—a payment will be made to the member's estate. (2) A payment under subsection (1)(a), (b) or (c) is to be made up of the following components: (a) the member-funded component; and (b) the Government-funded component; and (c) the rollover component (if any); and (d) subject to this section, the death insurance benefit (if any). (2a) Subsection (2)(d) does not apply in relation to a PSS 3 member— (a) who ceased to be a member of the Parliament of this State before the commencement of this subsection; or (b) who is over the age of 70 years at the time of their death; or (c) whose insurance has been cancelled on application by the member under section 21AHA(4). (3) A surviving spouse will not be entitled to a benefit under this section if section 23J applies to the spouse. (4) The death insurance benefit is not payable in respect of a member who dies within 1 year after becoming a PSS 3 member unless the Board is satisfied (by the production of such evidence as the Board thinks fit) that— (a) the death is attributable to a medical condition arising after the member became a PSS 3 member and is not attributable (or is not attributable in any material degree) to a medical condition existing before the member became a PSS 3 member; or (b) the death is attributable to a medical condition existing before the member became a PSS 3 member in a situation where, at the time of becoming a PSS 3 member, there was no reason for the member to believe that such a condition existed; or (c) death was caused by accidental injury. (5) If a benefit is payable to the legal personal representative or estate of a deceased PSS 3 member and probate or letters of administration in relation to the deceased's estate have not been granted to any person, the Board may use the amount payable under this section, or such part of it as is required, to pay the funeral expenses of the deceased member or to reimburse a person who has paid those expenses. 21AHA—Premiums for death insurance after PSS 3 member ceases to be member of Parliament (1) Subject to this section, a PSS 3 member who has ceased to be a member of the Parliament of the State and is under the age of 70 years is liable for premiums in respect of death insurance cover to which the member is entitled following that cessation. (2) The amount of premiums payable in respect of death insurance cover is to be fixed by the Board. (3) The amount of any premium payable by a member under this section will be charged against the member's Government contribution account at a time determined by the Board. (4) A PSS 3 member who has ceased to be a member of the Parliament of the State may apply to the Board, in the approved form, to cancel death insurance to which the member is entitled following that cessation, and, in that case, premiums for that insurance will cease to be payable from a day determined by the Board. (5) Death insurance to which a PSS 3 member is entitled after they have ceased to be a member of the Parliament of the State will cease if— (a) there are insufficient funds in the member's Government contribution account to enable the debiting of a premium; or (b) the member has reached the age of 70 years; or (c) the insurance has been cancelled on application by the member under subsection (4); or (d) the member is no longer a member of PSS 3. 21AI—Determination of invalidity/death insurance (1) For the purposes of this Division, a PSS 3 member is entitled to the following level of invalidity/death insurance by virtue of his or her membership of PSS 3: