This regulation moves specified employees, members and pensions from several NSW public-sector superannuation schemes into the Electricity Superannuation Scheme, transfers corresponding assets and liabilities, and sets short-term contracts for administration and investment management. It also creates a procedure for eligible members to transfer between the electricity scheme and certain State schemes, and designates the electricity trustee to determine related disputes. It affects transferred employers, trustees, members and beneficiaries by shifting who pays, who administers benefits, and who must meet actuarial and reporting obligations.
This Regulation (Superannuation Administration (Electricity Superannuation Scheme Transitional Provisions) Regulation 1997) establishes a timed, rule‑based transfer framework that moves specified employees, contributors, preserved beneficiaries and related assets and liabilities from a set of identified pre‑existing public sector superannuation arrangements into the electricity superannuation scheme (operated by Energy Industries Superannuation Scheme Pty Ltd, the trustee). The transfer framework operates in several linked layers:
identification and timing of transfers: the Regulation defines a transfer day (generally 1 July 1997, with specified exceptions, cl 3) and describes the classes of persons who are to be treated as transferred members (Pt 2, especially cll 5-11). Clause 5(1) operates as the primary mechanical vehicle effecting transfer on and from the transfer day.
partition by division: persons transferred are mapped to particular Divisions (A-E) of the electricity superannuation scheme, depending on the source scheme and category (cl 5(2) and the individual clauses 6-10).
asset and liability movement: FTC and STC (trustee bodies for source schemes) are required to transfer assets equivalent to calculated amounts to the electricity scheme trustee under clause 15, and clause 15A transfers liabilities that were due and payable in respect of former members or contributors to the trustee of the electricity scheme.
administration and investment arrangements: the trustee of the electricity scheme must enter short‑term administration contracts with the SAA until a specified date (cl 16) and must enter an investment management contract with AFML (Axiom Funds Management Limited) for Divisions B, C and D for a fixed period ending on a Minister‑determined date not later than 30 June 2002 (cl 17). Ministerial approval is required for early termination of the AFML contract (cl 17(3)).
Current sections
Direct links to the current provisions in Superannuation Administration (Electricity Superannuation Scheme Transitional Provisions) Regulation 1997.
electricity superannuation scheme means the superannuation scheme established under a trust deed entered into by the Treasurer and Energy Industries Superannuation Scheme Pty Ltd, as trustee, in accordance with section 127 of the Act.
(c) in relation to an employee of Pacific Power, 5 December 1997.
transferred employer means an employer listed in Schedule 1 who is bound by the terms of the trust deed establishing the electricity superannuation scheme.
transferred member means a person transferred to the electricity superannuation scheme under clause 5 or a person to whom a pension referred to in clause 11 (1) (a), (b) or (c) is payable.
cl 3: Am 1.7.1997; 28.11.1997; 13.12.2002; 2005 No 91, Sch 3.14 [1].
4
Notes
4 Notes
4 Notes
The explanatory note, table of contents and notes in the text of this Regulation do not form part of this Regulation.
Part 2
Transfer of employees and other beneficiaries
Part 2 Transfer of employees and other beneficiaries
Part 2 Transfer of employees and other beneficiaries
5
Transfer of employees
5 Transfer of employees
5 Transfer of employees
(1) On and from the transfer day, the persons described in clauses 6, 7, 8, 9 and 10 are transferred from the superannuation schemes referred to in those clauses to the electricity superannuation scheme.
(2) The persons so transferred are to be members of the following Divisions of the electricity superannuation scheme, to the extent that they are described in the clause concerned:
(a) a person described in clause 6 is to be a member of Division A,
(b) a person described in clause 7 is to be a member of Division B,
(c) a person described in clause 8 is to be a member of Division C,
(d) a person described in clause 9 is to be a member of Division D,
(e) a person described in clause 10 is to be a member of Division E.
(3) A person who is a person described in more than one of clauses 6, 7, 8, 9 or 10 may be a member of one or more Divisions of the electricity superannuation scheme.
5A
Transfer of certain employees only of Pacific Power
5A Transfer of certain employees only of Pacific Power
5A Transfer of certain employees only of Pacific Power
(1) Despite clause 5 (1), a person who is an employee of Pacific Power is transferred from a superannuation scheme referred to in clause 6, 7, 8, 9 or 10 to the electricity superannuation scheme by operation of that clause only if:
(a) the person is an employee who was, immediately before 5 December 1997, seconded to the Snowy Mountains Hydro-electric Authority or working on the Snowy Mountains Hydro-electric Scheme or employed in connection with the trading of electricity generated by the Scheme, and
(b) the person is approved by the Minister for the purposes of this clause, or is a member of a class of persons approved by the Minister for the purposes of this clause.
(1) For the purposes of clause 5, this clause describes the following persons:
(a) a person who was, at any time within the period of 6 months immediately preceding the transfer day, a full member of the First State Superannuation Scheme who was employed solely by a transferred employer,
(b) a person who was, at any time within the period of 6 months immediately preceding the transfer day, a full member of the First State Superannuation Scheme who was employed by a transferred employer and who was also employed by one or more other employers under the First State Superannuation Act 1992,
(c) an optional member of the First State Superannuation Scheme who is also a person referred to in clause 7 or 9.
(2) Despite subclause (1), this clause does not describe members of the First State Superannuation Scheme whose accounts consist of amounts contributed in respect of employment with a transferred employer and other employers if, at the transfer day:
(a) the total amount in the member’s account relating to employment with transferred employers is less than $500 and the total amount relating to employment with other employers is $500 or more, or
(b) the total amount in the member’s account relating to employment with transferred employers is less than the total amount relating to employment with other employers and each such total amount is less than $500.
(3) On and from the transfer day, the entitlement of a person referred to in subclause (1) (b) to preserved amounts related to previous employment by one or more other employers under the First State Superannuation Act 1992 is to be paid from the electricity superannuation scheme if, at the transfer day:
(a) the total amount in the member’s account relating to employment with transferred employers is $500 or more and the total preserved amount relating to employment with other employers is less than $500, or
(b) the total amount in the member’s account relating to employment with transferred employers is more than the total preserved amount relating to employment with other employers and each such total amount is less than $500.
(4) Despite subclause (1), this clause does not describe a member of the First State Superannuation Scheme if the member has ceased to be employed by a transferred employer before the transfer day and notice has been received of the cessation by FTC before the transfer day.
(5) Except as provided by subclause (3) in respect of preserved amounts, this Regulation does not transfer a person from the First State Superannuation Scheme in respect of contributions that are or have been made by or on behalf of the person in respect of the person’s employment by an employer that is not a transferred employer.
(6) In this clause:
transferred employer includes a predecessor of a transferred employer.
7
Contributors to State Authorities Superannuation Scheme
7 Contributors to State Authorities Superannuation Scheme
7 Contributors to State Authorities Superannuation Scheme
For the purposes of clause 5, this clause describes the following persons:
(a) a person who, immediately before the transfer day, was a contributor to the State Authorities Superannuation Scheme who was employed by a transferred employer,
(b) a person who, immediately before the transfer day, had a preserved benefit under the State Authorities Superannuation Act 1987, the Public Authorities Superannuation Act 1985 or the State Public Service Superannuation Act 1986 and who, immediately before the benefit was preserved, was employed by a transferred employer or a predecessor of a transferred employer.
8
Employees under State Authorities Non-contributory Superannuation Scheme
8 Employees under State Authorities Non-contributory Superannuation Scheme
8 Employees under State Authorities Non-contributory Superannuation Scheme
For the purposes of clause 5, this clause describes the following persons:
(a) a person who, immediately before the transfer day, was a contributing employee, under the State Authorities Non-contributory Superannuation Scheme, within the meaning of section 26C of the State Authorities Non-contributory Superannuation Act 1987 and who is a person described in clause 7 or 9,
(b) a person who, immediately before the transfer day, had a preserved benefit in the State Authorities Non-contributory Superannuation Scheme and who is a person described in clause 7 or 9.
9
Contributors to State Superannuation Scheme
9 Contributors to State Superannuation Scheme
9 Contributors to State Superannuation Scheme
For the purposes of clause 5, this clause describes the following persons:
(a) a person who, immediately before the transfer day, was a contributor to the State Superannuation Scheme who was employed by a transferred employer,
(b) a person who, immediately before the transfer day, had a preserved or deferred benefit under Division 3A or 3B of Part 4 of the Superannuation Act 1916 and who, immediately before the benefit was preserved or deferred, was employed by a transferred employer or a predecessor of a transferred employer.
10
Members of Public Sector Executives Superannuation Scheme
10 Members of Public Sector Executives Superannuation Scheme
10 Members of Public Sector Executives Superannuation Scheme
For the purposes of clause 5, this clause describes a person who was, immediately before the transfer day:
(a) employed by a transferred employer, and
(b) a member of the Public Sector Executives Superannuation Scheme.
11
Transfer of payment of certain pensions
11 Transfer of payment of certain pensions
11 Transfer of payment of certain pensions
(1) On and from the transfer day, the following pensions are payable under the electricity superannuation scheme:
(a) a pension payable to a person who, immediately before the transfer day, received a pension under any of the following Acts or regulation:
and who was employed by a transferred employer, or a predecessor of such an employer, immediately before becoming entitled to the pension, or a pension payable (before or after the transfer day) to the spouse or a child of such a person,
(b) a pension payable to a person who, immediately before the transfer day, received a pension under the Superannuation Act 1916 and who was employed by a transferred employer, or a predecessor of such an employer, immediately before becoming entitled to the pension, or a pension payable (before or after the transfer day) to the spouse or a child of such a person,
(2) For the purposes of the electricity superannuation scheme:
(a) a person to whom a pension referred to in subclause (1) (a) or (c) is payable is taken to be a member of Division B of that scheme, and
(b) a person to whom a pension referred to in subclause (1) (b) is payable is taken to be a member of Division D of that scheme.
12
Effect of transfers
12 Effect of transfers
12 Effect of transfers
(1) On transfer under this Part, a transferred member (except as provided by clause 13) ceases to have any entitlements, rights and obligations under the scheme from which the member was transferred to the extent to which the member is transferred.
(2) A right of appeal available to a transferred member before the transfer of the member under this Part in respect of a matter involving a dispute with the trustee of the member’s previous superannuation scheme, and not finally dealt with before the transfer day, is to be dealt with in accordance with procedures under the electricity superannuation scheme as if the dispute were with Energy Industries Superannuation Scheme Pty Ltd.
(3) A right of appeal available to a former member of or contributor to a FTC scheme or STC scheme in respect of a matter involving a dispute with the trustee of that scheme, and not finally dealt with before the transfer of assets and liabilities of the scheme in respect of the former member or contributor under clause 15 or 15A, is to be dealt with in accordance with procedures under the electricity superannuation scheme as if the dispute were with Energy Industries Superannuation Scheme Pty Ltd.
cl 12: Am 1.10.1999; 2004 No 10, Sch 2.1 [1].
13
Adjustment of transfers
13 Adjustment of transfers
13 Adjustment of transfers
(1) Despite any other provision of this regulation, a person who has been mistakenly identified as a transferred member within the meaning of this regulation and transferred to or dealt with under the electricity superannuation scheme may be transferred back to or dealt with under the scheme from which the person was originally transferred.
(2) Any person referred to in subclause (1) is taken to have always been a member of or to have been dealt with under the original superannuation scheme and FTC and STC must make any necessary adjustments to contributions, accounts and benefits accordingly.
(3) Despite any other provision of this regulation, a person who has been mistakenly not identified as a transferred member within the meaning of this regulation and has not been transferred to or dealt with under the electricity superannuation scheme may be transferred to or dealt with under the electricity superannuation scheme.
(4) Any person referred to in subclause (3) is taken to have been a member of or to have been dealt with under the electricity superannuation scheme on and from the transfer day for the person and Energy Industries Superannuation Scheme Pty Ltd must make any necessary adjustments to contributions, accounts and benefits accordingly.
(5) Despite any other provision of this Regulation, a person described in clause 6 may, if so permitted by Energy Industries Superannuation Scheme Pty Ltd, elect to transfer back to the First State Superannuation Fund and subclause (2) applies to any such person in the same way it applies to a person mistakenly transferred.
(6) For the purposes of clause 14 (1), a person who makes an election referred to in subclause (5) is not a transferred member.
cl 13: Am 2005 No 91, Sch 3.14 [2].
14
Status of employers
14 Status of employers
14 Status of employers
(1) A transferred employer is taken not to be an employer in respect of a transferred member for the purposes of an Act establishing an STC scheme or FTC scheme.
(2) This clause applies only to a transferred employer who is an “Employer” within the meaning of the trust deed establishing the electricity superannuation scheme and who is bound by the terms of the trust deed.
Part 3
Transfer of assets and liabilities
Part 3 Transfer of assets and liabilities
Part 3 Transfer of assets and liabilities
pt 3, hdg: Subst 10.7.1998.
15
Transfer of assets to EISS
15 Transfer of assets to EISS
15 Transfer of assets to EISS
(1) FTC and STC must transfer to Energy Industries Superannuation Scheme Pty Ltd, as the trustee of the electricity superannuation scheme, assets equivalent to an amount calculated in accordance with this clause in respect of the assets of the FTC or STC scheme or fund attributable in respect of the transferred members and the transferred employers covered by the electricity superannuation scheme and transferred under Part 2.
(2) The assets are to be transferred and calculated in accordance with the transfer agreements entered into between FTC and STC with Energy Industries Superannuation Scheme Pty Ltd, in connection with the transfer of transferred members under this Regulation.
(3) Every asset of FTC and STC in the nature of a right, entitlement, privilege, claim or chose in action against a person who is:
(a) a transferred member, or
(b) a former member of or contributor to a scheme referred to in Part 2, or
(c) a claimant against FTC or STC through any such member, former member or contributor,
that arises by virtue of the employment of the member, former member or contributor by a transferred employer is by this subclause transferred to Energy Industries Superannuation Scheme Pty Ltd as the trustee of the electricity superannuation scheme.
(4) Every asset of FTC and STC in the nature of a right, entitlement, privilege, claim or chose in action against a transferred employer is by this subclause transferred to Energy Industries Superannuation Scheme Pty Ltd as the trustee of the electricity superannuation scheme.
(5) In this clause, transferred employer includes a predecessor of a transferred employer.
(6) Nothing in this clause transfers a right, entitlement, privilege, claim or chose in action for the enforcement of which any proceedings were instituted before the commencement of this subclause.
cl 15: Am 10.7.1998; 1.10.1999.
15A
Transfer of liabilities
15A Transfer of liabilities
15A Transfer of liabilities
(1) A liability of a superannuation scheme referred to in Part 2 to pay any amount that is due and payable under the scheme to a former member of or contributor to the scheme by virtue of his or her employment by a transferred employer is by this subclause transferred to Energy Industries Superannuation Scheme Pty Ltd.
(2) Assets transferred under clause 15, and assets derived from the investment of such assets, may be applied to meet any liability transferred by this clause.
(3) In this clause, transferred employer includes a predecessor of a transferred employer.
cl 15A: Ins 10.7.1998.
Part 4
Administration and investment services
Part 4 Administration and investment services
Part 4 Administration and investment services
16
Provision of superannuation scheme administration services
16 Provision of superannuation scheme administration services
16 Provision of superannuation scheme administration services
(1) Energy Industries Superannuation Scheme Pty Ltd, as the trustee of the electricity superannuation scheme, must enter into a contract or arrangement with the SAA for the provision by the SAA of superannuation scheme administration services for the electricity superannuation scheme.
(2) The contract or arrangement is to cover a period commencing on or before the transfer day and ending on 31 December 1997.
(3) The superannuation scheme administration services that may be provided under the contract or arrangement include (but are not limited to) the following:
(a) collecting contributions to superannuation schemes,
(b) keeping and maintaining member records,
(c) providing information and advice to members,
(d) preparing financial statements on behalf of the trustee,
(e) processing of claims and payment of benefits.
(4) On or after the end of the contract or arrangement referred to in subclause (1), Energy Industries Superannuation Scheme Pty Ltd is not required to enter into a further contract or arrangement with the SAA but may enter into a contract or arrangement with the SAA (or its successors) or any other person for the provision of superannuation scheme administration services.
17
Provision of superannuation investment management services
17 Provision of superannuation investment management services
17 Provision of superannuation investment management services
(1) Energy Industries Superannuation Scheme Pty Ltd, as the trustee of the electricity superannuation scheme, must enter into a contract or an arrangement with AFML (or its successors) for the provision by AFML of superannuation investment management services for Divisions B, C and D of the electricity superannuation scheme.
(2) The contract or arrangement is to cover a period commencing on or before the transfer day and ending on a date determined by the Minister (not being a date later than 30 June 2002) for the purposes of this clause.
(3) Any such contract or arrangement may provide for the circumstances in which it may be ended before that period expires. Any such termination of the contract has no effect unless it is approved in writing by the Minister.
(4) On or after the end of the contract or arrangement referred to in subclause (1), Energy Industries Superannuation Scheme Pty Ltd is not required to enter into a further contract or arrangement with AFML but may enter into a contract or arrangement with AFML (or its successors) or any other person for the provision of superannuation investment management services.
(5) For the purposes of this clause:
AFML means Axiom Funds Management Limited.
superannuation investment management services include (but are not limited to) the following:
(a) acting as investment manager for any superannuation fund or funds concerned or part of any such fund,
(b) advising on investments and investment strategies and other related strategies for any superannuation fund or funds concerned or part of any such fund.
Part 5
Mobility between schemes
Part 5 Mobility between schemes
Part 5 Mobility between schemes
pt 5: Ins 1.10.1999.
Division 1
Preliminary
Division 1 Preliminary
Division 1 Preliminary
pt 5, div 1: Ins 1.10.1999.
18
Definitions
18 Definitions
18 Definitions
In this Regulation:
appointed day means 1 October 1999.
election means an election under Division 4 to exercise a transfer option referred to in section 128A of the Act.
STC employer means an employer responsible for making contributions under a superannuation scheme of which STC is trustee.
transferee scheme means the superannuation scheme to which a person elects to transfer in accordance with this Part.
transferor scheme means the superannuation scheme from which a person elects to transfer in accordance with this Part.
cl 18: Ins 1.10.1999.
18A
Application of Part
18A Application of Part
18A Application of Part
This Part extends to apply in respect of an employee whose transfer of employment took place at any time after 1 July 1997.
cl 18A: Ins 7.11.2003.
Division 2
Eligibility to exercise transfer option
Division 2 Eligibility to exercise transfer option
Division 2 Eligibility to exercise transfer option
(b) that is responsible for making contributions under an STC scheme of which the employee concerned was previously a member or to which the employee concerned previously contributed.
Note—
Subsections (2) and (3) of section 128A of the Act limit the transfer option available under that section to a class of employees who are employed by a “prescribed public sector employer”.
cl 19: Ins 1.10.1999.
20
Eligible employees and contributors
20 Eligible employees and contributors
20 Eligible employees and contributors
The following persons are eligible to exercise a transfer option:
(a) a Category 1 elector—that is, a person who, on the appointed day, was (or, after the appointed day, became) a contributor to the State Superannuation Scheme or to the State Authorities Superannuation Scheme and who, in accordance with clause 22, is taken to have transferred employment,
(b) a Category 2 elector—a person who, on the appointed day, was (or, after the appointed day, became) a contributor to Division B or D of the electricity superannuation scheme and who, in accordance with clause 23, is taken to have transferred employment,
(c) a Category 3 elector—a person who, on or after the appointed day, held deferred benefits in both the State Superannuation Scheme and the State Authorities Non-contributory Superannuation Scheme in relation to the same period of employment and who, in accordance with clause 24, is taken to have transferred employment,
(d) a Category 4 elector—a person who, on or after the appointed day, held deferred benefits in both the State Authorities Superannuation Scheme and the State Authorities Non-contributory Superannuation Scheme in relation to the same period of employment and who, in accordance with clause 25, is taken to have transferred employment,
(e) a Category 5 elector—a person who, on or after the appointed day, held deferred benefits in each of Divisions B and C of the electricity superannuation scheme in relation to the same period of employment and who, in accordance with clause 26, is taken to have transferred employment,
(f) a Category 6 elector—a person who, on or after the appointed day, held deferred benefits in each of Divisions C and D of the electricity superannuation scheme in relation to the same period of employment and who, in accordance with clause 27, is taken to have transferred employment,
(g) a Category 7 elector—a person who, on or after 1 July 1997, was a contributor to the Police Superannuation Scheme and who, in accordance with clause 27A, is taken to have transferred employment.
Note—
This clause allows (subject to the employment continuity restrictions imposed by Division 3):
(a) transfers from STC schemes to the electricity superannuation scheme by a member of an STC scheme who leaves a public sector employer prescribed for the purposes of the relevant STC scheme to take up employment with an electricity employer, and
(b) transfers from the electricity superannuation scheme to STC schemes by a member of the electricity superannuation scheme who was previously a member of an STC scheme and who leaves an electricity employer to take up employment with a public sector employer prescribed for the purposes of the relevant STC scheme.
cl 20: Ins 1.10.1999. Am 13.12.2002; 7.11.2003.
Division 3
Transfer of employment
Division 3 Transfer of employment
Division 3 Transfer of employment
pt 5, div 3: Ins 1.10.1999.
21
Application of Division
21 Application of Division
21 Application of Division
The provisions of this Division define, for the purposes of section 128A (2) (b) and (3) (b) of the Act, the circumstances in which a transfer of employment is taken to have occurred.
cll 21–27: Ins 1.10.1999.
22
Contributors to SSS or SASS
22 Contributors to SSS or SASS
22 Contributors to SSS or SASS
A person who is a Category 1 elector is taken to have transferred employment if:
(a) the person has ceased, on or after the appointed day, to be a contributor to the State Superannuation Scheme or to the State Authorities Superannuation Scheme, and
(b) within 3 months after ceasing to be a contributor to that scheme, the person has become an employee of an employer under the electricity superannuation scheme.
cll 21–27: Ins 1.10.1999.
23
Contributors to the electricity superannuation scheme
23 Contributors to the electricity superannuation scheme
23 Contributors to the electricity superannuation scheme
A person who is a Category 2 elector is taken to have transferred employment if:
(a) the person has ceased, on or after the appointed day, to be a contributor to Division B or D of the electricity superannuation scheme, and
(b) within 3 months after ceasing to be such a contributor, the person has become an employee of an STC employer.
cll 21–27: Ins 1.10.1999.
24
Holders of deferred benefits in SSS and SANCSS
24 Holders of deferred benefits in SSS and SANCSS
24 Holders of deferred benefits in SSS and SANCSS
(1) A person who is a Category 3 elector is taken to have transferred employment if:
(a) within the prescribed time after the person’s benefits in the State Superannuation Scheme and the State Authorities Non-contributory Superannuation Scheme were deferred, the person has become an employee of an employer under the electricity superannuation scheme, and
(b) the person has thereafter remained an employee of that employer, or been employed by a succession of employers under the electricity superannuation scheme or STC employers (or any combination of both), with no break in service longer than the prescribed time.
(2) In this clause, the prescribed time means the time allowed for the purposes of section 38C (2) of the Superannuation Act 1916.
cll 21–27: Ins 1.10.1999.
25
Holders of deferred benefits in SASS and SANCSS
25 Holders of deferred benefits in SASS and SANCSS
25 Holders of deferred benefits in SASS and SANCSS
(1) A person who is a Category 4 elector is taken to have transferred employment if:
(a) within the prescribed time after the person’s benefits in the State Authorities Superannuation Scheme and the State Authorities Non-contributory Superannuation Scheme were deferred, the person has become an employee of an employer under the electricity superannuation scheme, and
(b) the person has thereafter remained an employee of that employer, or been employed by a succession of employers under the electricity superannuation scheme or STC employers (or any combination of both), with no break in service longer than the prescribed time.
Holders of deferred benefits in Divisions B and C of electricity superannuation scheme
26 Holders of deferred benefits in Divisions B and C of electricity superannuation scheme
26 Holders of deferred benefits in Divisions B and C of electricity superannuation scheme
(1) A person who is a Category 5 elector is taken to have transferred employment if:
(a) within the prescribed time after the person’s benefits in Divisions B and C of the electricity superannuation scheme were deferred, the person has become an employee of an STC employer, and
(b) the person has thereafter remained an employee of that employer, or been employed by a succession of STC employers or employers under the electricity superannuation scheme (or any combination of both), with no break in service longer than the prescribed time.
Holders of deferred benefits in Divisions C and D of electricity superannuation scheme
27 Holders of deferred benefits in Divisions C and D of electricity superannuation scheme
27 Holders of deferred benefits in Divisions C and D of electricity superannuation scheme
(1) A person who is a Category 6 elector is taken to have transferred employment if:
(a) within the prescribed time after the person’s benefits in Divisions C and D of the electricity superannuation scheme were deferred, the person has become an employee of an STC employer, and
(b) the person has thereafter remained an employee of that employer, or been employed by a succession of STC employers or employers under the electricity superannuation scheme (or any combination of both), with no break in service longer than the prescribed time.
(2) In this clause, the prescribed time means the time allowed for the purposes of section 38C (2) of the Superannuation Act 1916.
cll 21–27: Ins 1.10.1999.
27A
Contributors to Police Superannuation Scheme
27A Contributors to Police Superannuation Scheme
27A Contributors to Police Superannuation Scheme
A person who is a Category 7 elector is taken to have transferred employment if:
(a) the person ceased, on or after 1 July 1997, to be a contributor to the Police Superannuation Scheme, and
(b) within 3 months after ceasing to be a contributor to that scheme, the person became an employee of an employer under the electricity superannuation scheme.
cl 27A: Ins 13.12.2002.
Division 4
Exercise of transfer option
Division 4 Exercise of transfer option
Division 4 Exercise of transfer option
pt 5, div 4: Ins 1.10.1999.
28
Manner and form of exercising option
28 Manner and form of exercising option
28 Manner and form of exercising option
An election to exercise a transfer option is to be given in writing to the trustee of the transferee scheme, using a form approved by that trustee.
cll 28: Ins 1.10.1999.
29
Provision of information
29 Provision of information
29 Provision of information
(1) An elector must provide such information as may be required to complete the election form, being information that the trustees of the transferor or transferee schemes may reasonably require to give effect to the election.
(2) Either trustee is entitled to require the other to provide information (including members’ files) reasonably necessary to give effect to the election.
(3) Either trustee is entitled to require an employer, under a scheme for which it is trustee, to provide such information as may be reasonably necessary to the trustee in order to give effect to the election.
cll 29: Ins 1.10.1999.
30
Time within which option may be exercised
30 Time within which option may be exercised
30 Time within which option may be exercised
(1) An election by a Category 1, 2 or 7 elector who, in accordance with clause 22, 23 or 27A, is taken to have transferred employment must be made within 3 months after the transfer of employment.
(2) An election by a Category 3, 4, 5 or 6 elector who, in accordance with clause 24, 25, 26 or 27, is taken to have transferred employment before the appointed day must be made within 12 months after that day.
(3) An election by a Category 3, 4, 5 or 6 elector who, in accordance with clause 24, 25, 26 or 27, is taken to have transferred employment on or after the appointed day must be made within 12 months after the transfer of employment.
(4) An election takes effect when the election form, duly completed, is received by the trustee of the transferee scheme.
(5) However, an election does not take effect if an elector has applied for a payment of a benefit (including a deferred benefit) under the transferor scheme before the election is received by the trustee of the transferee scheme.
(6) Despite any other provision of this clause, the trustee of the transferee scheme may allow an elector an additional period in which to make an election if the trustee thinks it appropriate in the circumstances.
(7) The additional period that may be allowed under subclause (6) must not exceed:
(a) if the elector is a Category 7 elector, such period as is determined by the trustee, or
(b) in any other case, 12 months after the expiration of the original period within which the election should have been made.
cl 30: Ins 1.10.1999. Am 13.12.2002.
Division 5
Transfer of assets on exercise of transfer option
Division 5 Transfer of assets on exercise of transfer option
Division 5 Transfer of assets on exercise of transfer option
pt 5, div 5: Ins 1.10.1999.
31
Amounts transferable on exercise of option
31 Amounts transferable on exercise of option
31 Amounts transferable on exercise of option
(1) On the exercise by a person of a transfer option, there is payable by the trustee of the transferor scheme to the trustee of the transferee scheme:
(a) an eligible termination payment calculated in accordance with clause 32, and
(b) the difference between:
(i) the sum of the primary and supplementary amounts calculated in accordance with clauses 33 and 34, and
(ii) the eligible termination payment referred to in paragraph (a).
(2) It is the duty of scheme trustees to ensure that the payments prescribed by this clause are duly made and credited to the appropriate accounts for the employee concerned in the transferee scheme.
cl 31: Ins 1.10.1999.
32
Eligible termination payment
32 Eligible termination payment
32 Eligible termination payment
(1) For a Category 1, 2 or 7 elector, the eligible termination payment is the amount that would have been immediately payable to the person, in accordance with the rules of the transferor scheme, on the person’s resignation from his or her employment.
(2) For a Category 3 elector, the eligible termination payment is the sum of:
(a) the amount that would have been payable if, on the date the election takes effect, the person had elected to take the benefit payable under section 52I of the Superannuation Act 1916, and
(3) For a Category 4 elector, the eligible termination payment is the sum of:
(a) the amount that would have been payable if, on the date the election takes effect, the person had elected to take the benefit payable under section 43 (7) of the State Authorities Superannuation Act 1987, and
(4) For a Category 5 elector, the eligible termination payment is the sum of:
(a) the amount of benefit to which the elector would have been entitled under subrule 5.10.10 of Schedule 2 to the trust deed governing the electricity superannuation scheme if the elector had resigned from employment and had, on the date the election takes effect, made any necessary election under that Schedule, and
(b) the amount of benefit to which the person was entitled on that date under Schedule 3 to the trust deed governing the electricity superannuation scheme.
(5) For a Category 6 elector, the eligible termination payment is the sum of:
(a) the amount of cash termination benefit to which the elector would have been entitled under subrule 16.11 of Schedule 4 to the trust deed governing the electricity superannuation scheme if the elector had resigned from employment and had, on the date the election takes effect, made any necessary election under that Schedule, and
(b) the amount of benefit to which the person was entitled on that date under Schedule 3 to the trust deed governing the electricity superannuation scheme.
cll 32–34: Ins 1.10.1999. Am 13.12.2002.
33
Primary amount
33 Primary amount
33 Primary amount
(1) For a Category 1, 3 or 4 elector, the primary amount is the amount determined by STC on actuarial advice to be the value of the person’s accrued benefit in the State Superannuation Scheme or the State Authorities Superannuation Scheme at the time of the election.
(2) For a Category 2, 5 or 6 elector, the primary amount is the amount determined by the trustee of the transferor scheme on actuarial advice to be the value of the person’s accrued benefit in Division B or D of the electricity superannuation scheme, as the case may be, at the time of the election.
(3) For a Category 7 elector, the primary amount is the amount determined by STC on actuarial advice to be the value of the person’s accrued benefit in the Police Superannuation Scheme at the time of the election.
(2) For a Category 2, 5 or 6 elector, the supplementary amount is the amount of benefit to which the person was entitled under Schedule 3 to the trust deed governing the electricity superannuation scheme on the date the election takes effect.
cll 32–34: Ins 1.10.1999. Am 13.12.2002.
Division 6
Rights of persons exercising transfer option
Division 6 Rights of persons exercising transfer option
Division 6 Rights of persons exercising transfer option
pt 5, div 6: Ins 1.10.1999.
35
Duty of trustees to electors
35 Duty of trustees to electors
35 Duty of trustees to electors
(1) It is the duty of the trustee of the transferee scheme under an election made by an eligible person to establish the person as a member of or contributor to the scheme.
(2) An elector transferring from Divisions B and C in the electricity superannuation scheme is to be established in the State Authorities Superannuation Scheme and in the State Authorities Non-contributory Superannuation Scheme.
(3) An elector transferring from Divisions C and D in the electricity superannuation scheme is to be established in the State Superannuation Scheme and in the State Authorities Non-contributory Superannuation Scheme.
(4) An elector transferring from the State Authorities Superannuation Scheme and the State Authorities Non-contributory Superannuation Scheme is to be established in Divisions B and C of the electricity superannuation scheme.
(5) An elector transferring from the State Superannuation Scheme and the State Authorities Non-contributory Superannuation Scheme is to be established in Divisions C and D of the electricity superannuation scheme.
(6) An elector transferring from the Police Superannuation Scheme and the State Authorities Non-contributory Superannuation Scheme is to be established in Divisions B and C of the electricity superannuation scheme.
cl 35: Ins 1.10.1999. Am 13.12.2002.
36
Trustees to determine rights of electors
36 Trustees to determine rights of electors
36 Trustees to determine rights of electors
(1) The trustee of the transferee scheme is to determine, with actuarial advice, the rights of the elector in the scheme.
(2) Regard must also be had to any rights the elector had in the transferor scheme and the rights established in the transferee scheme must be as near as possible to them.
(3) In particular, the trustee is to take into account the following:
(a) the elector’s accrued benefits in the transferor scheme, as certified by the trustee of that scheme,
(b) the benefits that the elector could have accrued by normal retirement age in the transferor scheme,
(c) the elector’s employment status (including salary and whether full-time or part-time) in the transferee scheme, on commencement or recommencement of membership of the scheme,
(d) the amounts being transferred under Division 5.
(4) In the case of a Category 3, 4, 5 or 6 elector, the trustee must also take into account:
(a) the period of employment, with any employer responsible for making contributions under either the transferor or transferee scheme, in the period between the date the benefit was deferred and the date that the elector again becomes a member of the transferee scheme, and
(b) any employer contributions made by any such employer to any complying superannuation fund within the meaning of the Income Tax Assessment Act 1997 of the Commonwealth in respect of the elector during that period.
cl 36: Ins 1.10.1999.
37
Automatic accrual of certain rights
37 Automatic accrual of certain rights
37 Automatic accrual of certain rights
(1) A person who by election rejoins the State Superannuation Scheme is taken to have met the medical requirements of Part 2A of the Superannuation Act 1916.
(2) A person who by election joins or rejoins Division D of the electricity superannuation scheme is taken to have met the medical requirements of clause 3 of Schedule 4 of the trust deed governing the electricity superannuation scheme.
(3) A person who was covered for additional benefits in Division B of the electricity superannuation scheme and who by election rejoins the State Authorities Superannuation Scheme is taken to have submitted an application for additional benefit cover under section 20 (1) of the State Authorities Superannuation Act 1987, and STC is taken to have approved that application.
(4) A person who was covered for additional benefits in the State Authorities Superannuation Scheme and who by election joins or rejoins Division B of the electricity superannuation scheme is taken to have submitted an application for additional benefit cover under subrule 3.2.1 of Schedule 2 to the trust deed governing that scheme, and the trustee of that scheme is taken to have approved that application.
(4A) A person who was a contributor to the Police Superannuation Scheme on or after 1 July 1997 and who by election joins Division B of the electricity superannuation scheme is taken to have submitted an application for additional benefit cover under subrule 3.2.1 of Schedule 2 to the trust deed governing that scheme, and the trustee of that scheme is taken to have approved that application.
(5) Additional benefit cover imputed by subclause (3), (4) or (4A) may be revoked in accordance with the rules of the relevant transferee scheme.
cl 37: Ins 1.10.1999. Am 13.12.2002.
38
Effect of transfers
38 Effect of transfers
38 Effect of transfers
On an election taking effect under this Part, and subject to any appeal rights referred to in this Part, the elector ceases to have any entitlements, rights and obligations under the scheme from which the person transferred to the extent to which the member is transferred.
cll 38: Ins 1.10.1999.
39
Appeal rights
39 Appeal rights
39 Appeal rights
(1) The rights of appeal available to an elector before a transfer option takes effect continue to apply in respect of:
(a) matters or disputes arising before that option takes effect, and
(b) any matters or disputes arising from determinations by the trustee of the transferor scheme under this Part or in relation to any payment from the transferor scheme.
(2) An elector who transfers to a transferee scheme has, in respect of any determination by the trustee of the transferee scheme as to the elector’s rights in that scheme on transfer to the scheme, the same rights of appeal as in respect of a determination by a trustee under the superannuation scheme concerned.
cll 39: Ins 1.10.1999.
Part 6
Determination of disputes
Part 6 Determination of disputes
Part 6 Determination of disputes
pt 6 (previously Part 5): Ins 5.3.1999. Renumbered 2001 No 112, Sch 2.34 [1].
40
Disputes concerning entitlements or obligations of transferred or former members or associated beneficiaries under FTC schemes
40 Disputes concerning entitlements or obligations of transferred or former members or associated beneficiaries under FTC schemes
40 Disputes concerning entitlements or obligations of transferred or former members or associated beneficiaries under FTC schemes
A dispute concerning the entitlements or obligations of a transferred member, former member of a FTC scheme or beneficiary arising in respect of service by the transferred member or former member, before the transfer day, with a transferred employer who was responsible for the payment of benefits under an FTC scheme in respect of that service are to be determined, not by FTC, but by the trustee of the electricity superannuation scheme.
cl 40 (previously cl 18): Ins 5.3.1999. Renumbered 2001 No 112, Sch 2.34 [2]. Am 2004 No 10, Sch 2.1 [2] [3].
41
Disputes concerning entitlements or obligations of transferred or former members or associated beneficiaries under STC schemes
41 Disputes concerning entitlements or obligations of transferred or former members or associated beneficiaries under STC schemes
41 Disputes concerning entitlements or obligations of transferred or former members or associated beneficiaries under STC schemes
A dispute concerning the entitlements or obligations of a transferred member, former member of a STC scheme or beneficiary arising in respect of service by the transferred member or former member, before the transfer day, with a transferred employer who was responsible for the payment of benefits under an STC scheme in respect of that service are to be determined, not by STC, but by the trustee of the electricity superannuation scheme.
cl 41 (previously cl 19): Ins 5.3.1999. Renumbered 2001 No 112, Sch 2.34 [2]. Am 2004 No 10, Sch 2.1 [4] [5].
Schedule 1
Transferred employers
Schedule 1 Transferred employers
Schedule 1 Transferred employers
(Clause 3)
TransGrid
Advance Energy
Australian Inland Energy
Energy Australia
Great Southern Energy
Integral Energy Australia
NorthPower
Electrical Trades Union of Australia (New South Wales Branch)
Electricity Association of New South Wales
Pacific Power
sch 1: Am 1.7.1997; 28.11.1997; 1998 No 68, Sch 2.19.
Source text: opening excerpt
Sourced from legislation.nsw.gov.au, CC BY 4.0.
Part 1 Preliminary
Part 1 Preliminary
Part 1 Preliminary
1 Name of Regulation
1 Name of Regulation
1 Name of Regulation
This Regulation is the Superannuation Administration (Electricity Superannuation Scheme Transitional Provisions) Regulation 1997.
2 Commencement
2 Commencement
2 Commencement
This Regulation commences on 1 July 1997.
3 Definitions
3 Definitions
3 Definitions
In this Regulation:
electricity superannuation scheme means the superannuation scheme established under a trust deed entered into by the Treasurer and Energy Industries Superannuation Scheme Pty Ltd, as trustee, in accordance with section 127 of the Act.
First State Superannuation Fund has the same meaning as Fund under the First State Superannuation Act 1992.
Police Superannuation Scheme means the superannuation scheme established under the Police Regulation (Superannuation) Act 1906.
Public Sector Executives Superannuation Scheme means the superannuation scheme established under the Public Sector Executives Superannuation Act 1989.
State Authorities Non-contributory Superannuation Scheme means the superannuation scheme established under the State Authorities Non-contributory Superannuation Act 1987.
State Authorities Superannuation Scheme means the superannuation scheme established under the State Authorities Superannuation Act 1987.
State Superannuation Scheme means the superannuation scheme established under the Superannuation Act 1916.
the Act means the Superannuation Administration Act 1996.
transfer day means:
(a) except as provided by paragraph (b) or (c), 1 July 1997, or
(b) in relation to a person who becomes a transferred member as a result of amendments made to this Regulation by the Superannuation Administration (Electricity Superannuation Scheme Transitional Provisions) Amendment Regulation 1997, 1 July 1997 or the day on which that Regulation commences, whichever is the later, or
Superannuation Administration (Electricity Superannuation Scheme Transitional Provisions) Regulation 1997 (New South Wales) | Zoe
post‑transfer mobility: Part 5 (ins 1.10.1999) creates a regulated transfer option for certain categories of members to move between the electricity scheme and State scheme(s), sets eligibility categories (cl 20), defines when a transfer of employment is taken to have occurred (cll 21-27A), prescribes time limits and form for elections (cll 28, 30) and specifies the accounting mechanics for calculating amounts to be transferred on exercise of an option (cll 31-34). Trustees must determine elector rights with actuarial advice (cl 36) and give effect according to rules in cll 35 and 37.
dispute allocation: Part 6 reallocates determination responsibility for certain disputes arising from service before the transfer day to the electricity scheme trustee (cll 40-41).
Mechanically, the instrument compels trustees and certain employers to act: FTC and STC must transfer assets per clause 15 and liabilities per clause 15A; Energy Industries Superannuation Scheme Pty Ltd must contract for administration and investment services (cll 16-17); trustees must accept elections on approved forms, calculate and pay transfer amounts (cll 28, 31, 36). The Regulation sets procedural detail for how values are to be determined (actuarial advice, primary and supplementary amounts, eligible termination payment calculations, cll 31-34).
The Regulation includes definitions and exceptions that materially change who is captured (for example, the Pacific Power exception for transfer day in cl 3, and the $500 account thresholds in cl 6). It also creates time‑limited contractual obligations (the SAA contract to 31 December 1997; AFML contract to a Minister‑determined date not later than 30 June 2002, cll 16-17). The instrument therefore effects a one‑off structural reallocation of members, assets and liabilities together with a regulated mobility regime and administrative contracting obligations for the electricity scheme trustee.
Main concepts
This Regulation organises transfer and mobility around a small set of legal concepts. These are defined, cross‑referenced and used to allocate rights and obligations:
transferred member / transferred employer / transfer day: cl 3 sets the key labels. A transferred member is a natural person moved to the electricity superannuation scheme under the detailed rules in Part 2 (cll 5-11). A transferred employer is any employer listed in Schedule 1 who is bound by the trust deed of the electricity scheme (cl 3, sch 1). The transfer day is generally 1 July 1997, with an explicit exception for certain Pacific Power employees (cl 3).
divisions of the electricity scheme: cl 5(2) maps source scheme categories to Divisions A-E of the electricity scheme; subsequent mobility rules (Part 5) assume persons are associated with Divisions B, C or D when defining rights and transfer mechanics (see cll 20, 23, 33).
asset and liability equivalence: clause 15 requires FTC and STC to transfer assets “equivalent to an amount calculated in accordance with this clause” attributable to transferred members and employers; clause 15(2) ties calculation to transfer agreements between FTC/STC and the electricity trustee. Clause 15A transfers liabilities that were due and payable under a source scheme to the new trustee and permits application of transferred assets to meet those liabilities (cl 15A(1)-(2)).
eligible termination payment, primary amount, supplementary amount: Part 5 Div 5 defines the accounting triad used when an eligible person exercises a transfer option. Clause 32 defines the eligible termination payment differently by category of elector (Categories 1-7 in cl 20); clauses 33-34 define primary and supplementary amounts, each to be determined on actuarial advice (cll 33-34).
elector categories and the appointed day: cl 20 creates seven elector categories (Category 1-7) based on prior membership or deferred benefits in specified schemes. The appointed day (cl 18) for Part 5 is 1 October 1999; eligibility and time windows for elections depend on whether transfer of employment occurred before or after that date (see cll 20, 30).
trustee duties and ministerial control: trustees are assigned direct obligations,e.g. the electricity trustee must enter specified contracts (cll 16-17), trustees must accept elections on approved forms and provide information (cll 28-29), and trustees must determine rights on actuarial advice (cl 36). The Minister has a direct approval role for early termination of the AFML investment contract (cl 17(3)) and approval functions in relation to class approvals for some Pacific Power employees (cl 5A).
dispute allocation and appeals: transfers extinguish previous entitlements to the extent of transfer (cl 12(1), cl 38) but preserve appeal rights for matters not finally dealt with before transfer (cll 12(2)-(3), cl 39). Part 6 shifts determination responsibility for certain pre‑transfer disputes to the electricity trustee (cll 40-41).
These concepts produce concrete administrative and financial mechanics: trustees must calculate and effect asset movements (cll 15, 31-34), enter and manage short‑term contracts for administration and investment (cll 16-17), and handle elections with prescribed forms and evidence obligations (cll 28-30). The Regulation uses actuarial valuation as the valuation standard (cll 33-36) to translate accrued rights into transferable monetary equivalents. It imposes time limits and continuity rules for mobility (cll 22-27, 30).
Who it affects
This Regulation affects identifiable groups and institutional actors; responsibilities and costs are partitioned across trustees, employers, members (employees and beneficiaries), and the Minister.
Members and beneficiaries: persons who, immediately before the transfer day, were contributors, members or beneficiaries under the listed source schemes (First State Fund, State Superannuation Scheme, State Authorities Superannuation Scheme, State Authorities Non‑contributory Superannuation Scheme, Public Sector Executives Scheme, Police Superannuation Scheme) are the direct subjects of transfer rules (cll 3, 6-10, 11). The Regulation also captures preserved, deferred and pension beneficiaries (see cll 6(3), 9(b), 11(1)). Category classifications in cl 20 create further subgroups with different election mechanics.
Employers: employers listed in Schedule 1 (TransGrid; Advance Energy; Australian Inland Energy; Energy Australia; Great Southern Energy; Integral Energy Australia; NorthPower; Electrical Trades Union of Australia (NSW Branch); Electricity Association of NSW; Pacific Power) are treated as transferred employers (cll 3, sch 1). Transferred employers are taken not to be employers in respect of transferred members for the purposes of the Acts establishing FTC and STC schemes, where they are bound by the electricity trust deed (cl 14).
Trustees and administering bodies:
Energy Industries Superannuation Scheme Pty Ltd (the electricity scheme trustee) is the primary decision‑maker post‑transfer: it must accept transferred members into relevant Divisions (cl 5), enter contracts for administration (cl 16) and investment management (cl 17), receive transferred assets (cl 15), and calculate and give effect to transfer option elections (cll 31-36). It is also the forum for dispute resolution for specified pre‑transfer service disputes (cll 40-41).
FTC and STC are required to transfer assets and liabilities attributable to transferred members and employers to the electricity trustee per clauses 15 and 15A.
The SAA (state administrative agency referenced in cl 16) and AFML (Axiom Funds Management Limited) are named service providers who must be contracted by the electricity trustee for specified periods (cll 16-17).
The Minister: the Minister has limited but specific decision power. The Minister may approve classes of Pacific Power employees for transfer under the special clause 5A, and must approve any early termination of the AFML investment contract (cll 5A(1)(b), 17(3)). The Minister also determines the AFML contract end date subject to an outer limit (cl 17(2)).
Persons with preserved/deferred benefits who later become subject to mobility rules: Part 5 reaches back to cover employees whose transfer of employment took place after 1 July 1997 (cl 18A) and sets continuity and “no break longer than the prescribed time” requirements for certain categories (cll 24-27).
Who pays and who bears costs: the Regulation does not prescribe explicit fee schedules. However, mechanics imply costs borne by trustees and schemes: FTC/STC must effect transfers (cl 15), the electricity trustee must procure administration and investment services (cll 16-17), and trustees must fund payments and adjustments on elections (cll 31-34). Employers are obliged to provide information to trustees upon request to enable elections (cl 29(3)). Members face procedural burdens to make elections in writing on approved forms and within strict time limits (cll 28, 30).
Key duties and rights
The Regulation allocates specific procedural and substantive duties to trustees, employers and participants, and defines rights of members and beneficiaries.
Principal duties
FTC and STC: transfer assets attributable to transferred members and employers to Energy Industries Superannuation Scheme Pty Ltd in amounts calculated in accordance with clause 15 and transfer agreements (cl 15(1)-(2)). They must also transfer liabilities to the electricity trustee where amounts were due and payable (cl 15A(1)). Clause 15(3)-(4) explicitly transfers rights, entitlements, privileges, claims or choses in action that arise by virtue of employment with transferred employers.
Electricity scheme trustee (Energy Industries Superannuation Scheme Pty Ltd): accept transferred members into specified Divisions (cl 5); enter into a contract or arrangement with the SAA for administration services covering to 31 December 1997 (cl 16(1)-(2)); enter into a contract or arrangement with AFML for investment management services for Divisions B, C and D over the Minister‑determined period (cl 17(1)-(2)); determine rights of electors with actuarial advice and take account of specified factors (cl 36); give effect to elections (cll 28, 31, 35).
Trustees of transferor and transferee schemes: cooperate in providing information and members’ files reasonably necessary to give effect to elections (cl 29(2)); the trustee of the transferee scheme must accept an election on the approved form and establish the elector as a member (cl 28, 35(1), 30(4)).
Employers: an employer is required to provide information reasonably necessary to a trustee to give effect to an election when requested (cl 29(3)). For transferred employers, clause 14(1) affects their status under prior statutes.
Key rights
Members: transferred members cease to have entitlements under their prior scheme to the extent of the transfer (cl 12(1), cl 38) but retain rights of appeal for unresolved disputes before transfer (cl 12(2)-(3), cl 39(1)(a)-(b)). Electors (as defined in cl 20) may exercise a transfer option under Division 4 subject to the procedural requirements (cll 28-30). Electors transferring under Part 5 have the right to have the transferee trustee determine their rights on actuarial advice and to have those rights made “as near as possible” to the rights previously held (cl 36(1)-(3)).
Appeal and dispute rights: appeals that existed before an election still apply (cl 39(1)). After transfer, electors have the same rights of appeal against determinations by the transferee trustee as they have in respect of determinations by trustees under the scheme (cl 39(2)). Disputes about entitlements or obligations arising from service before the transfer day and related to FTC or STC schemes are to be determined by the electricity trustee (cll 40-41), shifting the decision forum rather than extinguishing rights.
Automatic imputed rights: certain medical or additional benefit approvals are taken to have been satisfied or submitted on an elector’s re‑entry under specified rules (cl 37(1)-(5)), creating presumptive rights that trustees may later revoke in accordance with scheme rules (cl 37(5)).
Procedural obligations and constraints
Elections must be in writing, on a trustee‑approved form (cl 28). Electors must provide information reasonably required by trustees (cl 29(1)). Time limits for making elections are prescribed by category (cl 30(1)-(3)), with limited extensions allowed by the transferee trustee (cl 30(6)-(7)).
Valuation standards: trustees must determine primary amounts and other transferable values on actuarial advice (cll 33-34, 36(1)). Trustees must consider a specified list of factors (cl 36(3)-(4)).
Adjustment and corrections: clause 13 permits correction of mistaken identifications, transfers back to original schemes, and elective transfers back to First State where permitted by the electricity trustee (cl 13(1)-(6)).
The Regulation deliberately creates duties in trustees to carry fiduciary‑type operational tasks (valuation, payments, records) and rights for members to appeal, to receive actuarially determined equivalents and to have certain eligibility presumptions imputed upon transfer. The Minister retains limited oversight via approval powers attached to contract termination (cl 17(3)) and class approvals for Pacific Power employees (cl 5A(1)(b)).
Penalties and enforcement
The Regulation does not create express criminal penalties, fines, or administrative pecuniary sanctions within its text. Instead, enforcement is achieved through the allocation of duties, appeals and dispute‑determination mechanisms, and the legal effect of transfer on entitlements and proceedings. The operative enforcement vehicles and their practical implications are:
statutory duties on trustees and other bodies: the Regulation imposes specific mandatory duties,FTC and STC must transfer assets and liabilities (cll 15 and 15A), the electricity trustee must contract for administration and investment management services (cll 16-17), and trustees must accept elections and make specified payments on transfer (cll 28, 31). Non‑performance of these duties would, in ordinary legal practice, give rise to civil remedies (injunction, specific performance, damages) under general law or under the governing trust deed, though the Regulation itself does not articulate a penalty schedule.
appeals and dispute mechanisms: clauses 12 and 39 preserve and allocate appeal rights. Part 6 (cll 40-41) directs that certain disputes be determined by the electricity trustee rather than FTC or STC. Those appeal and dispute channels operationally enforce compliance and provide a remedy route for members and beneficiaries contesting determinations.
contractual controls and ministerial approval: clause 17 requires ministerial written approval for any early termination of the AFML investment management contract. This creates a governance enforcement point: the trustee cannot unilaterally end that contract without the Minister’s consent. Where such approval is required and withheld, the trustee remains bound by the contract terms.
procedural constraints as self‑enforcement: time limits for elections (cl 30), mandatory information provision requirements (cl 29), and the requirement to use approved forms (cl 28) give legal force to the orderly exercise of transfer options. Failure to comply with procedural obligations will typically invalidate or delay an election (cl 30(4)-(5)).
vesting of claims and exceptions: clause 15(6) preserves rights of action where proceedings were already instituted before that subclause commenced, denying the clause the effect of transferring such enforceable claims. This carve out maintains active enforcement rights for litigants who commenced proceedings before the transfer of assets.
Practical enforcement implications from the text
civil enforcement and trust remedies: because the Regulation uses transfer and duty‑imposition rather than criminal provisions, remedial enforcement will generally proceed through civil law (trust claims, mandamus or injunctive relief) and appeals under scheme rules. The instrument itself relies on trustees and courts or tribunals administering scheme rules and resolving disputes, rather than administrative fines.
ministerial oversight and contractual leverage: ministerial approval power over AFML contract termination creates a discrete check against trustee discretion in investment contract termination (cl 17(3)). The ability to approve classes of Pacific Power employees for transfer (cl 5A(1)(b)) also places a gatekeeping role in the Minister’s hands.
administrative enforcement via scheme governance: trustees are required to act on actuarial advice in valuation and to make transfers and payments; their obligations are likely enforced through internal governance mechanisms, scheme trust deed provisions and external suits for breach should those duties not be performed.
In short, the Regulation enforces compliance primarily through duties and administrative/legal remedies rather than express statutory penalties. Parties seeking redress for non‑compliance must rely on scheme rules, the trustees’ statutory duties as framed here, and general civil remedies; the text itself does not create or list penalty provisions.
How it interacts with other laws
The Regulation is integrative by reference. It operates in a lattice of named Acts, trust deeds and external instruments. Key interactions identifiable in the text are:
Superannuation Administration Act 1996 (the Act): the Regulation is a subordinate instrument to the Act (cl 3 defines “the Act” as the Superannuation Administration Act 1996). Part 5 implements transfer option mechanics authorised by section 128A of the Act (see note to cl 19; cl 21 says the Division defines for purposes of s 128A). The Regulation therefore fleshes out statutory transfer option entitlement and eligibility under the parent Act.
Source superannuation statutes: the Regulation moves members, preserved and deferred benefits from multiple named statutory schemes into the electricity scheme and back in specified circumstances. It expressly references and interacts with:
First State Superannuation Act 1992 (First State Superannuation Fund) (cl 3, cl 6).
State Superannuation Act 1916 (State Superannuation Scheme) (cl 3, cl 9 and many references for deferred benefit timings).
State Authorities Superannuation Act 1987 and State Authorities Non‑contributory Superannuation Act 1987 (cl 3, cll 7-8, cll 24-26).
Other named Acts cited in cl 11 for pensions (e.g. NSW Retirement Benefits Act 1972, Local Government and Other Authorities (Superannuation) Act 1927).
These references mean the Regulation must be read alongside those Acts to determine preserved/deferred benefit entitlements, the meaning of contributory statuses, prescribed times for deferred benefits and special eligibility windows (e.g. prescribed times in cll 24-27 cross‑reference time limits in the State Superannuation Act 1916 and the State Authorities Superannuation Act 1987).
Trust deeds: the electricity superannuation scheme is a trust arrangement created under a trust deed (cl 3 defines “electricity superannuation scheme”); the Regulation repeatedly defers to the scheme’s trust deed for particular calculation rules (see cll 31-34, which reference specific schedule subrules in the trust deed,subrule numbers in Schedules 2-4). Clause 14(2) conditions application of cl 14 on the employer being an “Employer” under the trust deed and bound by it.
Income Tax Assessment Act 1997 (Commonwealth): the Regulation asks trustees to take into account employer contributions to complying superannuation funds “within the meaning of the Income Tax Assessment Act 1997” when determining rights on transfer for certain categories (cl 36(4)(b)). This ties valuation and benefit determination to Commonwealth tax law definitions that govern complying fund status.
Contract law and administrative law: the Regulation mandates trustees to enter into contracts with named parties (SAA, AFML) and permits ministerial approval requirements (cll 16-17). These contractual obligations will sit within ordinary contract law, and ministerial decisions will attract administrative law scrutiny if challenged, though the Regulation does not itself prescribe administrative review standards.
Preservation of proceedings: clause 15(6) specifically preserves rights of action for the enforcement of rights where proceedings were instituted before that subclause commenced; this creates a direct interaction with procedural law,litigation in progress remains with the initiating forum rather than being mechanically transferred away.
Local Commonwealth or other state legislation: clause 5A references the Snowy Mountains Hydro‑electric Authority as referred to in the Snowy Mountains Hydro‑electric Power Act 1949 of the Commonwealth, indicating the Regulation acknowledges cross‑jurisdictional employment arrangements and requires ministerial approval for certain seconded employees to be included.
Operationally, reading the Regulation requires simultaneous consideration of multiple instruments: scheme trust deeds (for precise schedule cross‑references and subrule calculations), the enabling and referenced Acts (for definitions like “prescribed time” in deferred benefit rules), and relevant Commonwealth tax law for what counts as employer contributions to complying funds. Practitioners must therefore treat the Regulation as part of a regulatory and statutory chain rather than as a stand‑alone code.
Amendment history
The Regulation text includes inline amendment notes at several clauses and the schedule. Extracted from the instrument’s marginal notes and clause annotations, the principal amendments and insertions visible in the text are:
Original commencement: the Regulation commenced on 1 July 1997 (cl 2).
Early amendments and insertions:
Clause 3 shows multiple amendment timestamps: Am 1.7.1997; 28.11.1997; 13.12.2002; 2005 No 91, Sch 3.14. This indicates cl 3 was amended or reworded on those dates and later at Schedule 3.14 of the 2005 instrument.
Schedule 1 (Transferred employers) is annotated: Am 1.7.1997; 28.11.1997; 1998 No 68, Sch 2.19, indicating employer list changes occurred early post‑commencement and again in 1998.
Insertions later in 1997 and 1998:
Clause 5A (Transfer of certain employees only of Pacific Power) is marked "Ins 28.11.1997", meaning it was inserted on 28 November 1997, creating a specific exception for Pacific Power employees seconded to (or working on) the Snowy Mountains Scheme and requiring Ministerial approval for their inclusion.
Clause 15 was amended on 10.7.1998 and 1.10.1999 (cl 15: Am 10.7.1998; 1.10.1999), and clause 15A was inserted on 10.7.1998 (cl 15A: Ins 10.7.1998).
Part 3 heading replacement: “pt 3, hdg: Subst 10.7.1998” indicates Part 3’s heading was substituted 10 July 1998.
Part 5 (Mobility between schemes) additions and subsequent amendments:
Many provisions in Part 5 are marked "Ins 1.10.1999", showing the mobility scheme was inserted on 1 October 1999 (divisions and clauses 18-39).
Clause 18A (Application of Part) shows insertion on 7.11.2003 (Ins 7.11.2003).
Specific amendments on 13.12.2002 are noted for several clauses in Part 5 (e.g. cl 20 Am 13.12.2002; cll 32-34 Am 13.12.2002; cl 35 Am 13.12.2002; cl 37 Am 13.12.2002). These appear to alter definitions and mechanics for certain elector categories (including Category 7 for Police Superannuation contributors, added as cl 20(g) with later insertion of cl 27A Ins 13.12.2002).
Part renumbering and other insertions:
Part 6 (previously Part 5) has an insertion date of 5.3.1999 and later renumbering on 2001 No 112, Sch 2.34; clauses 40-41 show these insertion and renumbering entries.
Contractual end dates and ministerially bounded durations: clause 16(2) fixed the SAA contract covering a period commencing on or before the transfer day and ending on 31 December 1997; clause 17(2) requires the AFML contract to end on a Minister‑determined date not later than 30 June 2002.
The amendment annotations in the Regulation demonstrate a staged implementation: initial transfers in mid‑1997, early corrections and employer list updates in late 1997 and 1998, insertion of the mobility regime in 1999, and subsequent category and definitional tweaks into the early 2000s. The instrument’s marginal notes are the only direct amendment record within the text; they show the Regulation evolved over several years to add mobility options, correct transfer mechanics, insert liability transfer rules (cl 15A), and expand category coverage (e.g. Police contributors).
For precise drafting history, dates cited in clause annotations should be cross‑checked against the Government Gazette or the consolidated statutory instrument repository. The Regulation itself records amendment events but does not include the full text of the amending instruments within its own body.
Litigation history
The Regulation text does not record or name any litigation or judicial decisions. There are no case names or references to adjudicated disputes within the instrument. Clauses 15(6), 12(2)-(3) and 39 preserve rights and procedures for disputes and appeals, and Part 6 reallocates responsibility for determining certain disputes (cll 40-41), but the instrument does not include any adjudicative history or mention of matters that have been litigated under its provisions.
Practically, parties should note:
the Regulation preserves proceedings instituted before certain transfer subclauses took effect (cl 15(6)); such preservation implies that litigation could (or did) exist at the time of transfer, but the Regulation does not identify those proceedings.
appeal and dispute rights are expressly preserved and redirected in the instrument (cll 12, 39, 40-41). Any judicial interpretation of those clauses or trustees’ performance under them would appear in case law external to this instrument.
Because the instrument contains no litigation references, practitioners requiring case law or judicial interpretation must search tribunal and court databases for disputes concerning transfers effected by this Regulation, trustees’ obligations under clauses 15/15A/31/36, and the exercise of transfer options under Part 5. The Regulation itself provides the statutory mechanics and dispute allocation but not adjudicative summaries.
Gotchas
The Regulation contains multiple provisions that can produce practical risks, traps and compliance pitfalls. These are concrete mechanics that advisers should watch for because small procedural or factual failures can produce loss or litigation risk.
transfer day exceptions and multiple effective dates: the transfer day is primarily 1 July 1997 (cl 3). However, cl 3(c) sets 5 December 1997 for Pacific Power employees. Additionally, cl 5A (ins 28.11.1997) adds a ministerial approval gate for certain Pacific Power employees who were seconded to the Snowy Mountains Authority. Misreading or applying the wrong transfer date for a particular person will change which scheme applies and could affect preservation, accrual and election windows.
$500 thresholds in First State transfers: clause 6(2) excludes members whose First State accounts are composed of both transferred employer contributions and other employer contributions where certain $500 thresholds are not met. These numeric thresholds mean small account balances can determine whether a person is transferred and which scheme pays preserved amounts (see cl 6(2)-(3)). Practitioners must reconcile ledgered employer‑specific sub‑accounts; clerical aggregation errors can change transfer status.
mistaken identifications and retroactive adjustments: clause 13 allows correction of mistaken transfers and retroactive adjustments to contributions, accounts and benefits. While corrective, this mechanism can generate operational complexity for trustees and employers because it treats persons as though they always had a different membership history for accounting and contribution purposes (cl 13(2)-(4)). Trustees must therefore maintain detailed records and be prepared to unwind and restate entitlements.
contractual constraints on trustee discretion: the electricity trustee must contract with AFML for investment management for Divisions B, C and D for a specified period, and any early termination requires Ministerial written approval (cl 17(1)-(3)). This limits the trustee’s unilateral ability to replace or terminate an investment manager quickly if market or governance concerns arise.
actuarial valuation dependency: primary and supplementary amounts and the reconciliation calculations on elections depend on actuarial advice (cll 33-34, 36(1)). Different actuarial assumptions or misapplication of actuarial methods can produce material differences in transferred amounts. Trustees must ensure transparency and defensibility of the actuarial basis.
time limits and election interaction with benefit payments: clause 30(5) states that an election does not take effect if an elector has applied for a payment of a benefit under the transferor scheme before the election is received by the transferee trustee. Members who apply for payments prematurely may inadvertently forfeit the ability to elect. Also, strict time windows for elections (e.g. within 3 months for some categories, 12 months for others, cl 30) and limited discretionary extensions (cl 30(6)-(7)) create tight deadlines.
information dependence: trustees are entitled to require other trustees and employers to provide member files and information reasonably necessary to give effect to elections (cl 29). If employers or transferor trustees do not respond promptly or records are incomplete, elections and valuations may be delayed or contested.
preservation of ongoing proceedings: clause 15(6) preserves proceedings already instituted; a practitioner should check whether litigation in progress is affected by a transfer and how the allocation of responsibility to the electricity trustee interacts with court orders or interim relief.
status change of employers under source statutes: clause 14(1) takes a transferred employer not to be an employer for the purposes of the Act establishing an STC or FTC scheme. This can affect employer obligations and participant rights under those Acts in ways that require reconciliation with trust deeds and employer superannuation obligations.
“as near as possible” standard for rights determination: clause 36(2) instructs trustees to establish rights in the transferee scheme “as near as possible” to the transferor scheme. That imprecise standard can generate disputes over what adjustments are reasonable, particularly where scheme rules differ materially (accrual rates, retirement age, additional benefits). Trustees must document how they translated rights and the actuarial basis.
list of transferred employers: Schedule 1 lists specific entities; changes to corporate structure, successors, or employer nomenclature may create ambiguity about who is a “predecessor” and whether a given employer is within the transferred employer definition. Clause 15(5) and clause 6(6) treat a transferred employer as including a predecessor, but proof of succession or binding under a trust deed may still be contested.
These are concrete operational risks embedded in the Regulation’s mechanics. Addressing them requires rigorous record keeping, clear audit trails of actuarial assumptions and valuations, proactive information exchange protocols between trustees and employers, and careful management of ministerial approvals and contractual obligations.
How to comply
Compliance is distributed across trustees (electricity trustee, FTC, STC), employers, and members. The Regulation sets discrete actionable obligations; below is a practical, clause‑by‑clause oriented checklist and approach benchmarked to the instrument.
For FTC and STC (transferor trustees)
identify transferred members and employers: apply definitions in cl 3, and the membership descriptions in cll 6-10 to determine who is a transferred member. Pay careful attention to $500 thresholds in cl 6(2) and to exclusions in cl 6(4).
calculate and transfer assets: comply with cl 15 by calculating assets attributable to transferred members and employers in accordance with transfer agreements (cl 15(1)-(2)). Ensure transfer agreements are documented and include the actuarial basis and calculation methodology.
preserve pre‑existing proceedings: ensure that any proceedings instituted before clause 15(6) took effect are identified and not inadvertently extinguished by a transfer; maintain records to demonstrate which claims were active pre‑transfer.
cooperate on elections and information: respond promptly to requests for member files and information from transferee trustees as required by cl 29(2).
For Energy Industries Superannuation Scheme Pty Ltd (electricity trustee)
accept and register transferred members: on and from the transfer day, establish transferred persons in the correct Divisions as allocated by cl 5(2) and the particular clauses (cll 6-10).
enter required contracts: enter an administration contract with the SAA covering to 31 December 1997 (cl 16(1)-(2)); enter an investment management contract with AFML or successor covering Divisions B, C and D to the Minister‑determined date not later than 30 June 2002 (cl 17(1)-(2)). Ensure any early termination clause requires Ministerial written approval (cl 17(3)). Document contract scope to include the listed services (cll 16(3), 17(5)).
manage actuarial valuations: obtain actuarial advice and document assumptions and methodology used to calculate primary and supplementary amounts (cll 33-34, 36(1)). The trustee must consider specified factors when determining rights (cl 36(3)-(4)).
accept elections and implement transfers: provide approved forms for elections, accept elections in writing as per cl 28, and effect payments required under cl 31 (eligible termination payment and the reconciliation difference). Track time limits in cl 30 and properly administer discretionary extensions only within cl 30(6)-(7).
cooperate with transferor trustees and employers on information: request and obtain member files and employer information as needed under cl 29(2)-(3). Keep records of all communications and data transfers.
process corrections promptly: use cl 13 to correct mistaken transfers or omissions and make any necessary contribution and benefit adjustments, documenting the accounting restatements (cl 13(1)-(4)).
For employers (transferred and STC employers)
provide requested information: upon reasonable request from a trustee, provide information necessary to give effect to an election (cl 29(3)). Ensure HR and payroll systems can segregate employer‑specific contribution records so trustees can apply cl 6(2) thresholds and calculate accrued entitlements accurately.
understand status change (cl 14): where an employer is a transferred employer and is bound to the trust deed, note that for the purposes of Acts establishing STC or FTC schemes the transferred employer is taken not to be an employer in respect of a transferred member (cl 14(1)). Coordinate with legal counsel to determine practical impacts on employer obligations.
For members and electors
check category and time windows: determine whether you are a Category 1-7 elector under cl 20 and whether you are taken to have transferred employment under cll 22-27A. Note that the appointed day is 1 October 1999 for Part 5 (cl 18) and cl 18A extends Part 5 to transfers after 1 July 1997.
use approved forms and respect deadlines: file any election in writing to the transferee trustee on a form approved by that trustee (cl 28). Observe the specific election deadlines in cl 30 (3 months for some categories, 12 months for others) and understand the consequence in cl 30(5) that an election does not take effect if a benefit payment application is lodged earlier with the transferor scheme.
provide complete information: respond to requests under cl 29(1) for information required to complete election forms. Keep copies of all forms and communications.
consider medical and additional benefit imputation: cl 37 contains provisions treating electors as having met certain medical or additional benefit application requirements on joining or re‑joining a scheme; electors should obtain written confirmation from trustees about the imputed approvals and bear in mind that the entitlement may later be revoked in accordance with scheme rules (cl 37(5)).
Governance and record keeping (for trustees and employers)
maintain auditable records: keep member files, contribution histories and actuarial models to support transfer calculations (cll 15, 33-36). Errors can trigger corrective transfers under cl 13.
document agreements and ministerial approvals: retain copies of transfer agreements (cl 15(2)), SAA and AFML contracts (cll 16-17) and any Ministerial written approvals relating to early termination of AFML or class approvals under cl 5A.
plan for dispute handling: be prepared to handle appeals and determinations as prescribed (cll 12, 39, 40-41), and ensure appropriate internal procedures are aligned with trust deed dispute resolution provisions.
Practical implementation steps
map member base to clauses 6-11 to produce a transfer register, noting the transfer day applicable to each person and any $500 thresholds relevant to First State accounts (cl 6).
instruct actuaries to produce transfer valuations consistent with cll 33-34 and record the actuarial advice and assumptions (cl 36).
prepare transfer agreements and schedule asset movements between FTC/STC and EISS, documenting the calculation methodology and implementing entries (cl 15).
establish approved election forms, communications plans for eligible electors, and internal workflows to process elections within cl 30 time limits (cll 28-30).
ensure IT and payroll systems can segregate employer contributions and produce member history on demand for trustee enquiries (cl 29(3)).
document the SAA and AFML contracts and ensure Ministerial approvals are procured for any early terminations (cll 16-17).
Compliance under this Regulation is procedural and record‑intensive. Trustees and employers should treat the requirements as trust governance obligations tied to actuarial valuation standards and be ready to support transfers or correct them under clause 13.
(c) in relation to an employee of Pacific Power, 5 December 1997.
transferred employer means an employer listed in Schedule 1 who is bound by the terms of the trust deed establishing the electricity superannuation scheme.
transferred member means a person transferred to the electricity superannuation scheme under clause 5 or a person to whom a pension referred to in clause 11 (1) (a), (b) or (c) is payable.
cl 3: Am 1.7.1997; 28.11.1997; 13.12.2002; 2005 No 91, Sch 3.14 [1].
4 Notes
4 Notes
4 Notes
The explanatory note, table of contents and notes in the text of this Regulation do not form part of this Regulation.
Part 2 Transfer of employees and other beneficiaries
Part 2 Transfer of employees and other beneficiaries
Part 2 Transfer of employees and other beneficiaries
5 Transfer of employees
5 Transfer of employees
5 Transfer of employees
(1) On and from the transfer day, the persons described in clauses 6, 7, 8, 9 and 10 are transferred from the superannuation schemes referred to in those clauses to the electricity superannuation scheme.
(2) The persons so transferred are to be members of the following Divisions of the electricity superannuation scheme, to the extent that they are described in the clause concerned:
(a) a person described in clause 6 is to be a member of Division A,
(b) a person described in clause 7 is to be a member of Division B,
(c) a person described in clause 8 is to be a member of Division C,
(d) a person described in clause 9 is to be a member of Division D,
(e) a person described in clause 10 is to be a member of Division E.
(3) A person who is a person described in more than one of clauses 6, 7, 8, 9 or 10 may be a member of one or more Divisions of the electricity superannuation scheme.
5A Transfer of certain employees only of Pacific Power
5A Transfer of certain employees only of Pacific Power
5A Transfer of certain employees only of Pacific Power
(1) Despite clause 5 (1), a person who is an employee of Pacific Power is transferred from a superannuation scheme referred to in clause 6, 7, 8, 9 or 10 to the electricity superannuation scheme by operation of that clause only if:
(a) the person is an employee who was, immediately before 5 December 1997, seconded to the Snowy Mountains Hydro-electric Authority or working on the Snowy Mountains Hydro-electric Scheme or employed in connection with the trading of electricity generated by the Scheme, and
(b) the person is approved by the Minister for the purposes of this clause, or is a member of a class of persons approved by the Minister for the purposes of this clause.
(1) For the purposes of clause 5, this clause describes the following persons:
(a) a person who was, at any time within the period of 6 months immediately preceding the transfer day, a full member of the First State Superannuation Scheme who was employed solely by a transferred employer,
(b) a person who was, at any time within the period of 6 months immediately preceding the transfer day, a full member of the First State Superannuation Scheme who was employed by a transferred employer and who was also employed by one or more other employers under the First State Superannuation Act 1992,
(c) an optional member of the First State Superannuation Scheme who is also a person referred to in clause 7 or 9.
(2) Despite subclause (1), this clause does not describe members of the First State Superannuation Scheme whose accounts consist of amounts contributed in respect of employment with a transferred employer and other employers if, at the transfer day:
(a) the total amount in the member’s account relating to employment with transferred employers is less than $500 and the total amount relating to employment with other employers is $500 or more, or
(b) the total amount in the member’s account relating to employment with transferred employers is less than the total amount relating to employment with other employers and each such total amount is less than $500.
(3) On and from the transfer day, the entitlement of a person referred to in subclause (1) (b) to preserved amounts related to previous employment by one or more other employers under the First State Superannuation Act 1992 is to be paid from the electricity superannuation scheme if, at the transfer day:
(a) the total amount in the member’s account relating to employment with transferred employers is $500 or more and the total preserved amount relating to employment with other employers is less than $500, or
(b) the total amount in the member’s account relating to employment with transferred employers is more than the total preserved amount relating to employment with other employers and each such total amount is less than $500.
(4) Despite subclause (1), this clause does not describe a member of the First State Superannuation Scheme if the member has ceased to be employed by a transferred employer before the transfer day and notice has been received of the cessation by FTC before the transfer day.
(5) Except as provided by subclause (3) in respect of preserved amounts, this Regulation does not transfer a person from the First State Superannuation Scheme in respect of contributions that are or have been made by or on behalf of the person in respect of the person’s employment by an employer that is not a transferred employer.
(6) In this clause:
transferred employer includes a predecessor of a transferred employer.
7 Contributors to State Authorities Superannuation Scheme
7 Contributors to State Authorities Superannuation Scheme
7 Contributors to State Authorities Superannuation Scheme
For the purposes of clause 5, this clause describes the following persons:
(a) a person who, immediately before the transfer day, was a contributor to the State Authorities Superannuation Scheme who was employed by a transferred employer,
(b) a person who, immediately before the transfer day, had a preserved benefit under the State Authorities Superannuation Act 1987, the Public Authorities Superannuation Act 1985 or the State Public Service Superannuation Act 1986 and who, immediately before the benefit was preserved, was employed by a transferred employer or a predecessor of a transferred employer.
8 Employees under State Authorities Non-contributory Superannuation Scheme
8 Employees under State Authorities Non-contributory Superannuation Scheme
8 Employees under State Authorities Non-contributory Superannuation Scheme
For the purposes of clause 5, this clause describes the following persons:
(a) a person who, immediately before the transfer day, was a contributing employee, under the State Authorities Non-contributory Superannuation Scheme, within the meaning of section 26C of the State Authorities Non-contributory Superannuation Act 1987 and who is a person described in clause 7 or 9,
(b) a person who, immediately before the transfer day, had a preserved benefit in the State Authorities Non-contributory Superannuation Scheme and who is a person described in clause 7 or 9.
9 Contributors to State Superannuation Scheme
9 Contributors to State Superannuation Scheme
9 Contributors to State Superannuation Scheme
For the purposes of clause 5, this clause describes the following persons:
(a) a person who, immediately before the transfer day, was a contributor to the State Superannuation Scheme who was employed by a transferred employer,
(b) a person who, immediately before the transfer day, had a preserved or deferred benefit under Division 3A or 3B of Part 4 of the Superannuation Act 1916 and who, immediately before the benefit was preserved or deferred, was employed by a transferred employer or a predecessor of a transferred employer.
10 Members of Public Sector Executives Superannuation Scheme
10 Members of Public Sector Executives Superannuation Scheme
10 Members of Public Sector Executives Superannuation Scheme
For the purposes of clause 5, this clause describes a person who was, immediately before the transfer day:
(a) employed by a transferred employer, and
(b) a member of the Public Sector Executives Superannuation Scheme.
11 Transfer of payment of certain pensions
11 Transfer of payment of certain pensions
11 Transfer of payment of certain pensions
(1) On and from the transfer day, the following pensions are payable under the electricity superannuation scheme:
(a) a pension payable to a person who, immediately before the transfer day, received a pension under any of the following Acts or regulation:
(i) New South Wales Retirement Benefits Act 1972,
(ii) Local Government and Other Authorities (Superannuation) Act 1927,
(iii) Public Authorities Superannuation Act 1985,
(iv) Transport Employees Retirement Benefits Act 1967,
(v) Part 2, 3 or 6 of the State Authorities Superannuation (Transitional Provisions) Regulation 1988,
and who was employed by a transferred employer, or a predecessor of such an employer, immediately before becoming entitled to the pension, or a pension payable (before or after the transfer day) to the spouse or a child of such a person,
(b) a pension payable to a person who, immediately before the transfer day, received a pension under the Superannuation Act 1916 and who was employed by a transferred employer, or a predecessor of such an employer, immediately before becoming entitled to the pension, or a pension payable (before or after the transfer day) to the spouse or a child of such a person,
(c) a pension payable (before or after the transfer day) under section 15BV (14) of the Local Government and Other Authorities (Superannuation) Act 1927.
(2) For the purposes of the electricity superannuation scheme:
(a) a person to whom a pension referred to in subclause (1) (a) or (c) is payable is taken to be a member of Division B of that scheme, and
(b) a person to whom a pension referred to in subclause (1) (b) is payable is taken to be a member of Division D of that scheme.
12 Effect of transfers
12 Effect of transfers
12 Effect of transfers
(1) On transfer under this Part, a transferred member (except as provided by clause 13) ceases to have any entitlements, rights and obligations under the scheme from which the member was transferred to the extent to which the member is transferred.
(2) A right of appeal available to a transferred member before the transfer of the member under this Part in respect of a matter involving a dispute with the trustee of the member’s previous superannuation scheme, and not finally dealt with before the transfer day, is to be dealt with in accordance with procedures under the electricity superannuation scheme as if the dispute were with Energy Industries Superannuation Scheme Pty Ltd.
(3) A right of appeal available to a former member of or contributor to a FTC scheme or STC scheme in respect of a matter involving a dispute with the trustee of that scheme, and not finally dealt with before the transfer of assets and liabilities of the scheme in respect of the former member or contributor under clause 15 or 15A, is to be dealt with in accordance with procedures under the electricity superannuation scheme as if the dispute were with Energy Industries Superannuation Scheme Pty Ltd.
cl 12: Am 1.10.1999; 2004 No 10, Sch 2.1 [1].
13 Adjustment of transfers
13 Adjustment of transfers
13 Adjustment of transfers
(1) Despite any other provision of this regulation, a person who has been mistakenly identified as a transferred member within the meaning of this regulation and transferred to or dealt with under the electricity superannuation scheme may be transferred back to or dealt with under the scheme from which the person was originally transferred.
(2) Any person referred to in subclause (1) is taken to have always been a member of or to have been dealt with under the original superannuation scheme and FTC and STC must make any necessary adjustments to contributions, accounts and benefits accordingly.
(3) Despite any other provision of this regulation, a person who has been mistakenly not identified as a transferred member within the meaning of this
This is an opening excerpt, not the complete document.