Staff Superannuation Statute 2007
38Rates of contribution by members
Start here
Get a plain-English read of 38
Turn the raw legal text into a practical explanation grounded in Staff Superannuation Statute 2007.
38 Rates of contribution by members
38.1 In addition to any other payments that the member is required to make under this Statute, a member must contribute to the Fund such percentage of his or her annual salary as is specified in the second column of the following table opposite to the age set out in the first column of that table that is the age, as determined in accordance with this section, of the member.
| Age of member in years | Member’s contribution as a percentage of his or her annual salary % |
|---|---|
| Not more than 29 | 0.50 |
| 30-34 | 0.75 |
| 35-39 | 1.00 |
| 40-44 | 1.25 |
| 45-49 | 1.50 |
| Not less than 50 |
38.2 If the member was a member at the commencing date, the age of the member for the purposes of the application of this section is to be determined as follows:
(a) if the member has, by writing under his or her hand, notified the Vice-Chancellor or his or her nominee before the date of commencement of the Amendment Statute that the member will not elect not to contribute to the Fund—the age that the member attained or will attain on the anniversary of his or her birthday next following:
(i) the commencing date; or
(ii) the date of the notice referred to in this paragraph,
whichever date the member chooses; and
(b) if the member, by writing under his or her hand, notifies the Vice-Chancellor or his or her nominee after the date of commencement of the Amendment Statute but before the expiration of the period of 6 months after that date, that the member will not elect not to contribute to the Fund—the age that the member will attain on the anniversary of his or her birthday next following the date of that notice; and
(c) in any other case—the age that the member will attain on the anniversary of his or her birthday next following the expiration of the period of 6 months after the date of commencement of the Amendment Statute.
38.3 If a member was not a member at the commencing date but became a member before the date of commencement of the Amendment Statute, the age of the member for the purposes of the application of this section is to be determined as follows:
(a) if the member has, by writing under his or her hand, notified the Vice-Chancellor or his or her nominee before the date of commencement of the Amendment Statute that the member will not elect not to contribute to the Fund—the age that the member attained, or will attain, on the anniversary of his or her birthday next following: