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This is a Bill, not an Act. For current law, see the Acts databases.
1998-1999-2000-2001
The
Parliament of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Parliamentary
(Choice of Superannuation) Bill 2001
No.
, 2001
(Mr Andren)
A
Bill for an Act to amend the law relating to superannuation for
parliamentarians, and for related purposes
ISBN: 0642
466548
Contents
A Bill for an Act to amend the law relating to
superannuation for parliamentarians, and for related
purposes
The Parliament of Australia enacts:
This Act may be cited as the Parliamentary (Choice of Superannuation)
Act 2001.
(1) Subject
to subsection (2), this Act commences on a day to be fixed by
Proclamation.
(2) A Proclamation for the purposes of subsection (1) must not be made
unless the Parliament has appropriated funds for the purposes of this
Act.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
Repeal the definition, substitute:
member means a member of either House who makes contributions
to the Trust.
Insert:
non Trust contributor means a member of either House who has
never made or has ceased to make contributions to the Trust as a result of a
choice made under section 4F.
Repeal the paragraph, substitute:
(aa) a member or a non Trust contributor is taken to be employed by the
Commonwealth;
Insert:
(1) This section applies to a member of either House who is or becomes a
member of another complying superannuation fund or the holder of an
RSA.
(2) On or after 1 July 2001, a member of either House may, by written
notice given to the Trust choose
(a) to cease to make contributions to the Trust at the end of a day (not
earlier than the day on which the notice is given) stated in the notice,
or
(b) never to make contributions to the Trust, where the person choosing is
a new member of either House.
(3) The person may make this choice on first becoming entitled to
parliamentary allowance or at any time he or she is a member.
(4) The person must have effective membership of a complying
superannuation fund or be the holder of an RSA for the whole of the period or
periods he or she is a member of either House.
(5) A non Trust contributor may not revoke his or her choice after the day
stated in the written notice given to the Trust.
(6) In this section:
complying superannuation fund has the meaning given by
section 45 of the Superannuation Industry (Supervision) Act 1993.
RSA has the same meaning as in the Retirement Savings
Accounts Act 1997.
The Commonwealth must make contributions to a non Trust
contributor’s chosen fund or RSA for that person’s benefit. The
contributions must be made with effect from the day stated in the written notice
to the Trust, and in accordance with the Superannuation Guarantee
(Administration) Act 1992.
Repeal the subsection, substitute:
(9) In this section:
Minister of State means a Minister of State who is entitled
to a parliamentary allowance and who makes contributions to the Trust.
month means one of the 12 months of the year.
office holder means a person who:
(a) is entitled to a parliamentary allowance;
(b) holds an office in, or in relation to, the Parliament or either House,
being an office in respect of which he or she is entitled to an allowance by way
of salary; and
(c) makes contributions to the Trust;
but does not include a Minister of State.
person means a person who makes contributions to the
Trust.
Insert:
(1) A member who ceases to make contributions to the Trust as a result of
a choice made under section 4F, shall be entitled to a benefit equal to the
superannuation guarantee safety-net amount.
(2) Except as provided by this section, this benefit is in substitution
for any benefits that would otherwise apply under this Act in respect of the
person.
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