Commonwealth of Australia Bills Commonwealth of Australia Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
2016
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Superannuation Amendment (PSSAP
Membership) Bill 2016
No. , 2016
(Finance)
A Bill for an Act to amend the Superannuation Act
2005, and for related purposes
No. , 2016
Superannuation Amendment (PSSAP Membership) Bill 2016
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
Superannuation Act 2005
3
No. , 2016
Superannuation Amendment (PSSAP Membership) Bill 2016
1
A Bill for an Act to amend the Superannuation Act
1
2005, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act is the Superannuation Amendment (PSSAP Membership)
5
Act 2016.
6
2 Commencement
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2
Superannuation Amendment (PSSAP Membership) Bill 2016
No. , 2016
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
A single day to be fixed by Proclamation.
However, if the provisions do not commence
within the period of 6 months beginning on
the day this Act receives the Royal Assent,
they commence on the day after the end of
that period.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedules
7
Legislation that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
Amendments Schedule 1
No. , 2016
Superannuation Amendment (PSSAP Membership) Bill 2016
3
Schedule 1--Amendments
1
2
Superannuation Act 2005
3
1 Section 3
4
Omit:
5
•
Employers must pay contributions to PSSAP for the benefit of
6
ordinary employer-sponsored members of PSSAP.
7
substitute:
8
•
Employers must pay contributions to PSSAP for the benefit of
9
most ordinary employer-sponsored members of PSSAP.
10
•
A former public sector employee may be able to continue to
11
be an ordinary employer-sponsored member of PSSAP.
12
Employers are not required by this Act or the Trust Deed to
13
make contributions to PSSAP for the benefit of such a
14
member. However, employers can make contributions to
15
PSSAP for the benefit of such a member if PSSAP is the
16
member's chosen fund under the Superannuation Guarantee
17
(Administration) Act 1992.
18
2 Subsection 4(1)
19
Insert:
20
former Commonwealth ordinary employer-sponsored member
21
means a person who is an ordinary employer-sponsored member of
22
PSSAP under subsection 18(7).
23
3 Paragraph 17(1)(a)
24
After "PSSAP", insert "(except a former Commonwealth ordinary
25
employer-sponsored member)".
26
4 Subsection 17(2) (note)
27
Omit "Note", substitute "Note 1".
28
Schedule 1 Amendments
4
Superannuation Amendment (PSSAP Membership) Bill 2016
No. , 2016
5 At the end of subsection 17(2)
1
Add:
2
Note 2:
The designated employer of a former Commonwealth ordinary
3
employer-sponsored member is not required by this Act or the Trust
4
Deed to make contributions to PSSAP for the benefit of the member.
5
However, the designated employer can make contributions to PSSAP
6
for the benefit of the member if PSSAP is the member's chosen fund
7
under the Superannuation Guarantee (Administration) Act 1992.
8
6 Subsection 18(1)
9
Omit "3", substitute "4".
10
7 At the end of section 18
11
Add:
12
Former Commonwealth ordinary employer-sponsored member
13
(7) Subject to subsections (8) and (9), if:
14
(a) at a particular time (the relevant time), a person is a member
15
of PSSAP; and
16
(b) the person was previously an ordinary employer-sponsored
17
member of PSSAP under one or more of subsections (2), (3)
18
and (5); and
19
(c) the person previously would have been eligible to become a
20
member of PSSAP because of particular employment or
21
holding one or more particular offices, where the periods of
22
any such employment, and the periods of holding any such
23
office, taken together constituted a continuous period of at
24
least 12 months; and
25
(d) at the relevant time, none of subsections (2), (3) and (5) apply
26
to the person in respect of any employment of the person or
27
any holding of an office by the person; and
28
(e) at the relevant time, the person is in particular employment or
29
holds a particular office; and
30
(f) at the relevant time, assuming that the person's employer
31
(within the meaning of the Superannuation Guarantee
32
(Administration) Act 1992) were to make a basic employer
33
contribution to PSSAP for the benefit of the person, the
34
employer would rely on subsection 32C(1) of that Act to
35
satisfy the choice of fund requirements in relation to the
36
contribution; and
37
Amendments Schedule 1
No. , 2016
Superannuation Amendment (PSSAP Membership) Bill 2016
5
(g) at the relevant time, the person's salary or wages (within the
1
meaning of the Superannuation Guarantee (Administration)
2
Act 1992) would be taken into account for the purpose of
3
making a calculation under section 19 of that Act; and
4
(h) the person has elected, in a form approved by the CSC and
5
given to the CSC, for this subsection to apply in respect of
6
the employment or the holding of the office referred to in
7
paragraph (e);
8
the person is an ordinary employer-sponsored member of PSSAP
9
in respect of the employment or the holding of the office referred
10
to in paragraph (e).
11
Note:
A person who is an ordinary employer-sponsored member of PSSAP
12
under this subsection is known as a former Commonwealth ordinary
13
employer-sponsored member.
14
(8) To avoid doubt, paragraph (7)(e) does not apply to a person who is
15
a member of the Defence Force by reason only of the person being
16
a member of the Defence Force.
17
(9) A person cannot be an ordinary employer-sponsored member of
18
PSSAP under subsection (7) if the person is included in a class of
19
persons determined in an instrument under subsection (10).
20
(10) The Minister may, by legislative instrument, determine a class of
21
persons for the purposes of subsection (9).
22
(11) Despite anything in regulations made for the purposes of
23
paragraph 44(2)(b) of the Legislation Act 2003, section 42
24
(disallowance) of that Act applies to an instrument under
25
subsection (10) of this section.
26
8 Subsection 19(2) (after table item 5)
27
Insert:
28
5A
the person is a former
Commonwealth ordinary
employer-sponsored member
the person's employer mentioned in
paragraph 18(7)(f).
9 Paragraph 42(1)(a)
29
After "PSSAP", insert "(except a former Commonwealth ordinary
30
employer-sponsored member)".
31
Schedule 1 Amendments
6
Superannuation Amendment (PSSAP Membership) Bill 2016
No. , 2016
10 Paragraph 43(1)(b)
1
After "PSSAP", insert "(except a former Commonwealth ordinary
2
employer-sponsored member)".
3
11 Subsection 44(3)
4
Omit "An", substitute "A person,".
5
12 Subsection 44(3)
6
After "in relation to the", insert "person,".
7
[Index] [Search] [Download] [Related Items] [Help]