Sch 1Transitional provisions

Schedule 1—Transitional provisions 1—Continuity of contributor status (1) All employees who were, immediately before the commencement of this Act, contributors to the Scheme under the repealed Act continue as contributors under this Act. (2) All employees who were, immediately before the commencement of this Act, contributors to the Provident Account under the repealed Act— (a) become, on the commencement of this Act, contributors to the Scheme; and (b) will be classified for the purposes of this Act as old scheme contributors; and (c) will, subject to clause 6, be treated in the same way as other old scheme contributors. (2a) A person who, immediately before the commencement of this Act, was an employee of the Australian National Railways Commission and was also a contributor to the Fund or the Provident Account will be taken to be an employee for the purposes of this Act until he or she ceases to be an employee of the Australian National Railways Commission. (3) A new scheme contributor who was accepted as a contributor before the commencement of this Act may, within three months after the commencement of this Act, elect to resign from membership of the Fund and in that event— (a) the balance standing to the credit of the contributor's contribution account will be refunded; and (b) he or she will cease to be a contributor. 2—Contributions by old scheme and certain new scheme contributors (1) This clause applies to— (a) old scheme contributors; and (b) new scheme contributors who were accepted as contributors before the commencement of this Act. (2) For the purposes of this Act, the standard contribution rate for a contributor to which this clause applies is the percentage which— (a) in the case of a higher benefit contributor (as defined in the repealed Act)—constituted the contributor's standard percentage of contribution for the purposes of the repealed Act; (b) in the case of a lower benefit contributor (as defined in the repealed Act)—is equal to twice the percentage that constituted the contributor's standard percentage of contribution for the purposes of the repealed Act, (but this subclause applies to new scheme contributors only until the date fixed by the Board under subclause (3) when the standard contribution rate for such a contributor will become 6% of salary). (3) The amount contributed by a contributor to which this clause applies will continue to be governed by the repealed Act until a date fixed by the Board. 3—Starting balance of contribution account of old scheme contributors (1) The Board will establish a contribution account in the name of every old scheme contributor— (a) who continues as a contributor under this Act; or (b) to, or in relation to, whom a pension is being paid at the commencement of this Act. (2) The balance of the account, as at the commencement of this Act, of a contributor who was still in employment at the commencement of this Act will be an amount calculated in accordance with section 79 of the repealed Act as if the contributor had become entitled to a payment under that section on the commencement of this Act. (3) The balance of the account, as at the commencement of this Act, of a contributor whose employment had ceased before the commencement of this Act will be an amount calculated in accordance with section 81 of the repealed Act as if an entitlement to a payment under that section had arisen at the commencement of this Act. 3A—Starting balance for certain new scheme contributors (1) The contribution account of a new scheme contributor who was accepted as a contributor before the commencement of this Act will be credited with the following amounts: (a) the aggregate amount of contributions made by the contributor before the commencement of this Act; and (b) an amount determined by the Board to be the return attributable to the investment of those contributions before the commencement of this Act; and (c) where the amount referred to in paragraph (b) was not credited to the contributor's contribution account on 1 July, 1988, an amount determined by the Board to be the return that would have been attributable to the investment of that amount if it had been credited to the account on 1 July, 1988. (2) The amount to be credited to a contribution account under subclause (1)(b) and (c) must be debited against the unallocated portion of the old scheme division of the Fund. 4—Special provision as to contribution period of certain contributors The contribution period of an old scheme contributor who was accepted as a contributor— (a) after reaching the age of 30 years; but (b) before the commencement of the repealed Act, will be taken to have commenced when the contributor reached the age of 30 years. 5—Superannuation points carried over by old scheme contributors (1) To calculate the number of superannuation points of an old scheme contributor as at the commencement of this Act, proceed as follows: (a) calculate the pension (ignoring any neglected unit reduction, fund share reduction or excess unit addition) to which the contributor would be, or would have been, entitled under the repealed Act on retirement at the age of retirement assuming that the contributor had retired, or were to retire, at that age and, in the case of a contributor under that age at the commencement of this Act— (i) that the repealed Act remained in force; and (ii) that the contributor's rate of contribution remained constant until the contributor attained that age; and (iii) that the contributor's contribution salary (as defined in the repealed Act) were the contributor's actual salary and remained constant until the contributor retired at the age of retirement; (b) express this pension as a proportion of the theoretical maximum pension; (c) convert this proportion to the fraction with a denominator of 360; (d) the number of points is then given by the following formula: P is the number of points x is the numerator of the fraction arrived at under paragraph (c) n is— (a) in relation to a person who was accepted as a contributor under the repealed Act before the age of 30 years—the number of months from the date of acceptance to the age of 30 years or the commencement of this Act whichever is the earlier (and, if the period is not exactly divisible into whole months, any remainder will be treated as a whole month); (b) in any other case—0 p is the number of months (if any) by which the contributor's age, as at the commencement of this Act, falls short of the age of retirement or 360 (whichever is the lesser) m is— (a) in relation to a contributor contributing for higher benefits under the repealed Act—1; (b) in relation to a contributor contributing for lower benefits under the repealed Act—½ y is— (a) in relation to a person who became a higher benefit contributor by virtue of an election under section 57B of the repealed Act— (b) in any other case—0 q is the number of months (if any) by which the contributor's age, as at the commencement of this Act, exceeds the age of retirement. (2) In this clause— theoretical maximum pension in relation to a contributor means the pension that would be payable to the contributor on retirement at the age of retirement assuming— (a) that the repealed Act remained in force; and (b) that the contributor were employed throughout any future period of his or her employment at the contributor's contribution salary as it was immediately before the commencement of this Act; and (c) that the contributor were a new contributor (as defined in the repealed Act) and had elected for higher benefits; and (d) that the contributor attained 360 contribution months on or before attaining the age of retirement. 6—Special provisions for contributors to the Provident Account (1) Where— (a) a contributor was a contributor to the Provident Account under the repealed Act; (b) the contributor's employment is terminated by death or on account of invalidity before the contributor reaches the age of retirement; (c) the death or invalidity arises in circumstances or under conditions determined by the Board in relation to the contributor, the Board may determine not to pay, or to discontinue payment of, a pension or pensions under this Act to or in relation to the contributor and to pay instead a lump sum calculated as follows to the contributor or the contributor's estate: LS is the amount of the lump sum (b) the numerical value obtained by dividing the number of the contributor's accrued superannuation points by— (i) in the case of a contributor who was accepted as a contributor under the repealed Act before reaching the age of 30 years—the number of months between the contributor's age as at the date of acceptance and the age of retirement; FS is the contributor's actual or attributed salary immediately before termination of employment (expressed as an annual amount) Z is— (a) in relation to a contributor who is 55 years of age or less—11.5; (b) in relation to a contributor who is over the age of 55 years—11.5 less 0.0167 for every month by which the contributor's age exceeds 55 years (a) in the case of a contributor who was in full-time employment during that part of the contribution period occurring after 31 December 1987—1; (b) in any other case—the numerical value arrived at by expressing the contributor's employment while an active contributor during that part of the contribution period as a proportion of full-time employment during that part of the contribution period (2) A determination for the purposes of subclause (1)(c) must be made within three months after the commencement of this Act. 7—Limited benefit contributors (1) Subject to subclause (2), a contributor who was immediately before the commencement of this Act affected by conditions imposed under section 65 of the repealed Act remains subject to those conditions after the commencement of this Act. (2) The Board will relax or revoke any such condition if satisfied by evidence provided by the contributor that there is proper cause to do so. (3) Where a contributor is entitled to the payment of a lump sum but is not entitled to a pension under this Act by virtue of conditions referred to in subclause (1), the lump sum will be the aggregate of three and one-half times the balance standing to the credit of the contributor's contribution account and an amount calculated as follows: (a) in the case of a contributor who was in full-time employment during that part of the contribution period occurring after 31 December 1987—1; (b) in any other case—the numerical value arrived at by expressing the contributor's employment while an active contributor during that part of the contribution period as a proportion of full-time employment during that part of the contribution period FS is the contributor's actual or attributed salary (expressed as an annual amount) immediately before termination of employment 8—Preservation of excess unit addition (a) a pension becomes payable to or in relation to an old scheme contributor after the commencement of this Act; (b) the pension would if the repealed Act had continued in operation be increased by an excess unit addition, there will be a corresponding increase of the pension payable under this Act. 9—Neglected unit and fund share reduction (1) Subject to this Act, where a pension to, or in relation to, an old scheme contributor would, if granted under the repealed Act, have been subject to a neglected unit reduction or a fund share reduction, the corresponding pension under this Act will be subject to a corresponding reduction. (1a) Where— (a) an old scheme contributor resigns from employment and elects to preserve his or her accrued superannuation benefits; and (b) the contributor was, before resignation, making pension maintenance payments or neglected unit maintenance payments, or purchasing contribution months by fortnightly contributions, a pension that subsequently becomes payable to or in relation to the contributor will be reduced to an extent determined by the Board. (2) A contributor may reduce or eliminate a reduction of pension under this clause by payment to the Treasurer of a lump sum determined by the Board. (3) A contributor who desires to reduce or eliminate a reduction of pension under this clause must, within one month after first becoming entitled to receive the pension inform the Board in writing of his or her intention to do so, and must pay the appropriate lump sum within one month after receiving notification from the Board of the relevant amount. 10—Pensions that commenced under previous enactments (1) A pension that commenced under the repealed Act, or under a corresponding previous enactment, is, subject to this Act, payable as if this Act had been in force when the pension commenced. (2) This Act, apart from provisions relating to indexation, commutation and reduction or suspension of pensions, does not affect the amount of any such pension. 11—Abolition of Provident Account, and Retirement Benefit Account (1) The Provident Account and the Retirement Benefit Account established under section 99 of the repealed Act are abolished. (2) Any contributions to the Provident Account will be treated as contributions made in accordance with the Scheme. (3) The balance standing to the credit of any person in the Retirement Benefit Account will be returned to that person. 12—Continuation of superannuation arrangements (1) Any arrangements in force under section 11 of the repealed Act immediately before the commencement of this Act will continue in force as if they had been made under section 5 of this Act. (2) Money paid by an employer pursuant to an arrangement referred to in subclause (1) and held by the Superannuation Funds Management Corporation of South Australia does not form part of the Fund and must be applied by the Superannuation Funds Management Corporation of South Australia in accordance with the arrangement. 13—Continuation of membership of elected members of the Board (1) Any members elected to the Board before the commencement of this Act continue in office subject to this Act as if it had been in force when they were elected and they had then been elected under it. (2) The offices of the other members of the Board become vacant on the commencement of this Act. 14—Retrospective operation of preservation rights The rights conferred by section 39 extend to a contributor who resigned before the commencement of this Act but on or after 1 January, 1988. 15—Benefits under Parts 4 and 5 (1) Subject to clause 15A, Parts 4 and 5 as in force immediately before the commencement of the Superannuation (Scheme Revision) Amendment Act 1992 continue to apply to and in relation to the following contributors: (a) a contributor who was a contributor immediately before 1 July 1992 and in relation to whom benefits did not accrue under the Public Sector Employees Superannuation Scheme; (b) a contributor who has received or is entitled to receive benefits under the Public Sector Employees Superannuation Scheme or in relation to whom such benefits have been paid or are payable; (c) a contributor who would receive a higher benefit, or in relation to whom a higher benefit would be payable, under those provisions immediately before amendment by the Superannuation (Scheme Revision) Amendment Act 1992. (2) A contributor whose employment terminates or is terminated on or after 1 July 1992 and who is entitled to a benefit under the Public Sector Employees Superannuation Scheme or a person who is entitled to such a benefit in relation to a contributor whose employment was terminated by death on or after 1 July 1992 may renounce the entitlement by instrument in writing to the Board within three months after becoming entitled or within three months after the Governor assents to the Superannuation (Scheme Revision) Amendment Act 1992, whichever is later and upon renunciation the contributor or other person will be taken for the purposes of subclause (1)(b) never to have been entitled. (3) Where benefits under the Public Sector Employees Superannuation Scheme have been credited to an account maintained by the Board in the name of a contributor under section 28 of the Superannuation (Benefit Scheme) Act 1992, the contributor will be taken, for the purposes of subclause (1)(b), to have received those benefits. 15A—Early retirement benefit for certain contributors (1) A contributor— (a) who resigned from employment before 1 July 1992 after a contribution period of 120 months or more and preserved his or her accrued superannuation benefits under section 39; and (b) who, on or before reaching the age of retirement, requires the Board to commence paying a retirement pension, is entitled to the following benefits: (c) if the contributor was accepted as a contributor before the age of 30 years and before commencement of the repealed Act, the contributor is entitled to a pension in accordance with section 39(7) and (8) as in force immediately before the Superannuation (Miscellaneous) Amendment Act 1994 came into operation; (d) in any other case the contributor is entitled to a pension calculated as follows: AFS is the contributor's actual or attributed salary (expressed as an amount per fortnight) immediately before resignation adjusted to reflect changes in the Consumer Price Index between the date of resignation and the date on which the pension first became payable (i) in the case of a contributor who was accepted as a contributor under the repealed Act before reaching the age of 30 years—the number of months between the date of acceptance and the date on which the pension first became payable; n2 is the number of months between the day on which the contributor reached the age of 55 years and the day on which the pension first became payable. (2) For the purpose of applying section 39(7) as required by subclause (1)(c), the factor "NP" in the formula in section 39(7) is the amount of pension that would have been payable to the contributor if it were calculated under subclause (1)(d). (3) A contributor referred to in clause 15(1) who is an old scheme contributor and who retires on or after reaching the age of 55 years but before the age of retirement is entitled to a pension calculated as follows: (i) in the case of a contributor who was accepted as a contributor under the repealed Act before reaching the age of 30 years—the number of months between the date of acceptance and the date on which the pension first became payable; n2 is the number of months between the day on which the contributor reached the age of 55 years and the day on which the pension first became payable. 16—Transference from old scheme to new scheme (1) Subject to subclause (8), an old scheme contributor may, by notice in writing given to the Board on or before 31 December 1993, elect to become a contributor to the new scheme. (2) A contributor who makes an election under subclause (1) will be taken to have become a new scheme contributor on 1 July 1992. (3) Where conditions limiting the payment of benefits applied in relation to the contributor under the old scheme the same conditions will, if they can be applied without modification, apply in relation to the contributor under the new scheme, but if not the Board will apply conditions that are, in its opinion, appropriate limiting the payment of benefits to or in relation to, the contributor under the new scheme. (4) For the purpose of determining the benefits payable to, or in relation to, the contributor under the old scheme and the time at which they are payable, the contributor will be taken to have resigned from employment on 30 June 1992 and to have elected to preserve his or her accrued superannuation benefits under section 39. (5) Benefits that are preserved by virtue of subclause (4) are not payable to the contributor while the contributor is employed in employment to which this Act applies. (6) For the purpose of calculating the contributor's benefits under the new scheme— (a) contribution points accrued before 1 July 1992 and contribution months occurring before that date will be disregarded; and (b) the Board will establish a new account in the name of the contributor as at 1 July 1992. (7) The standard contribution rate that applied in relation to the contributor before 1 July 1992 will continue to apply in relation to the contributor from 1 July 1992 until 30 June following the election made by the contributor under subclause (1). (8) This clause does not apply for the benefit of— (a) an employee of the Australian National Railways Commission; (b) a contributor who has reached the age of retirement. (9) In this clause— the new scheme means the scheme of superannuation established by Part 4 of this Act; the old scheme means the scheme of superannuation established by Part 5 of this Act. 17—Payment of contributions while on leave without pay Section 4(8) does not apply to a contributor who is on leave without pay when the Superannuation (Miscellaneous) Amendment Act 1994 comes into operation in respect of that period of leave. 18—Repeal of contribution rate (1) A contributor who was contributing at the rate of 1.5% at the commencement of the Superannuation (Miscellaneous) Amendment Act 1998 is entitled to continue contributing at that rate until 1 July 1998. (2) A contributor referred to in subclause (1) who fails to elect some other rate of contribution under section 23 in respect of the 1998/1999 financial year will be taken to have elected to cease contributing in respect of that year. 19—Operation of sections 28(1f) and 39(1db) Section 28(1f) and 39(1db) substituted by the Superannuation (Miscellaneous) Amendment Act 1998 operate in relation to the 1997/1998 and subsequent financial years and the provisions they replace operate in relation to the 1996/1997 and previous financial years. 20—Election on retrenchment under section 29 A new scheme contributor who— (a) was retrenched one year or less before the commencement of the Superannuation (Miscellaneous) Amendment Act 1998; and (b) had not reached the age of 55 years at that time; and (c) had not made an election under section 29(1) at that time, is entitled to make the election within three months after the commencement of that Act. 21—Operation of amendments made by Statutes Amendment (Equal Superannuation Entitlements for Same Sex Couples) Act 2003 An amendment made by the Statutes Amendment (Equal Superannuation Entitlements for Same Sex Couples) Act 2003 to a provision of this Act that provides for, or relates to, the payment of a pension, lump sum or other benefit to a person on the death of a contributor applies only if the death occurs on or after 3 July 2003.