128Mobility between public sector schemes and successor funds

128 Mobility between public sector schemes and successor funds

128 Mobility between public sector schemes and successor funds

(1) An employee has a right to transfer from an STC scheme to a successor fund if the employee—

(a) is a member of or contributor to an STC scheme because of employment with a public sector employer prescribed by the regulations, and

(b) subsequently transfers employment to an employer that is responsible for the payment of benefits in respect of a successor fund, and

(c) meets the eligibility requirements prescribed by the regulations.

(2) An employee has a right to transfer from a successor fund (the current successor fund) to an STC scheme if—

(a) the employee was previously a member of or contributed to the STC scheme, and

(b) the employee has transferred—

(i) directly from the STC scheme to the current successor fund, or

(ii) from the STC scheme to the current successor fund by way of other successor funds or relevant schemes, and

(c) each transfer was—

(i) in accordance with regulations made under this Part or Part 6, or

(ii) by the exercise of an option under this Act or another Act establishing an STC scheme, and

(d) the employee subsequently transfers employment from an employer that is responsible for the payment of benefits in respect of the current successor fund to a public sector employer prescribed by the regulations, and

(e) the employee meets the eligibility requirements prescribed by the regulations.

(3) In this section—

relevant scheme means—

(a) the electricity industry superannuation scheme, or

(b) the local government superannuation scheme

s 128: Ins 2022 No 63, Sch 3.1[13].