Commonwealth legislation

Superannuation (Productivity Benefit) Act 1988 - Declaration under subsection 4B(1) (June 1990)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This is a short ministerial declaration made in June 1990 by Ralph Willis, the then Minister for Finance.

What it does It formally names the Australian Government Employees Superannuation Trust as the "nominated fund" (the officially chosen superannuation account) under the Superannuation (Productivity Benefit) Act 1988.

Why this matters In the late 1980s and early 1990s, Commonwealth employees received "productivity benefits"—essentially extra superannuation contributions paid by the government when the public service met certain productivity targets. This declaration simply designates which superannuation fund would hold and manage those specific contributions. By naming this particular trust, the Minister determined where the government's productivity-related payments would be deposited on behalf of employees.

In plain terms Think of this as the government saying: "When we pay productivity bonus super contributions to our employees, we will put that money into the Australian Government Employees Superannuation Trust."

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Current sections

Direct links to the current provisions in Superannuation (Productivity Benefit) Act 1988 - Declaration under subsection 4B(1) (June 1990).

Superannuation (Productivity Benefit) Act 1988 - Declaration under subsection 4B(1) (June 1990)

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COMMONWEALTH OF AUSTRALIA

SUPERANNUATION (PRODUCTIVITY BENEFIT) ACT 1988

DECLARATION UNDER SUBSECTION 4B(1)

I, RALPH WILLIS, Minister of State for Finance, under subsection 4B(1) of the Superannuation (Productivity Benefit) Act 1988, declare that the superannuation fund known as the Australian Government Employees Superannuation Trust is to be the nominated fund for the purposes of that Act.

Dated 27 June 1990.

RALPH WILLIS

Minister of State for Finance

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.