Superannuation Administration (Electricity Superannuation Scheme Transitional Provisions) Regulation 1997
6Members of First State Superannuation Scheme
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6 Members of First State Superannuation Scheme
6 Members of First State Superannuation Scheme
(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.