State Authorities Superannuation (Transport Officers’ Gratuity Scheme Transfer) (Savings and Transitional) Regulation 1989
6Contribution rates
Start here
Get a plain-English read of 6
Turn the raw legal text into a practical explanation grounded in State Authorities Superannuation (Transport Officers’ Gratuity Scheme Transfer) (Savings and Transitional) Regulation 1989.
6 Contribution rates
6 Contribution rates
(1) On and after 1 April 1989, a transferred transport officer is entitled to elect to pay no contributions to the Fund, despite being entitled to receive points in accordance with clause 5 (2).
(2) A transferred transport officer may elect to contribute to the Fund in accordance with section 19 of the Act (Election to contribute to the Fund) (subsection (2) (b) excepted).
(3) A transferred transport officer making an election under section 19 (1) of the Act must specify one of the rates referred to in subclause (4) as the rate at which he or she will contribute to the Fund.
(4) For the purposes of subclause (3), the rates are 1, 2, 3, 4, 5, 6 and 6.7 per cent of the salary of the officer concerned.
(5) An initial election under subclause (2) may be lodged with the Board during the period beginning with 1 April 1989 and ending with 31 October in that year.
(6) An election under subclause (2) takes effect on a date not later than 1 January 1990 to be determined by the Board.
(7) The Board is required to nominate a period in each year during which a transferred transport officer is entitled to make an election varying his or her existing contribution rate.
(8) During the period nominated under subclause (7), a transferred transport officer may vary his or her existing contribution rate to another of the rates specified in subclause (4).
(9) A transferred transport officer who elects to contribute to the Fund under subclause (2) may decide to make no contributions to the Fund only as provided by section 28 of the Act (Variations of contribution rate : hardship).