New South Wales Consolidated Regulations

PUBLIC AUTHORITIES SUPERANNUATION (TRANSITIONAL PROVISIONS) REGULATION 1985 - REG 14

14 Adjustment of benefits where broken service recognised under Act No 70, 1972

(1) This clause applies to a transferred contributor referred to in clause 3 of Schedule 7 to the Act in respect of whom an order has been in force under Part II of the 1983 Regulation at any time in relation to one or more periods of employment occurring before 1 July 1985.

(2) If a transferred contributor to whom this clause applies has received an allowance in relation to a period of employment in respect of which an order under Part II of the 1983 Regulation has been in force, the employer-financed benefit payable under the Act to or in respect of the transferred contributor shall be reduced by the following amount in respect of each such period:

"J" represents the amount by which the employer-financed benefit is to be reduced,
"S" represents the amount of the contributor's salary, as used in the calculation of the benefit payable to or in respect of the transferred contributor under the Act,
"A" represents the amount of the allowance received by the transferred contributor, and
"W" represents the annual wages of the transferred contributor, as determined by the Board, immediately before the allowance became payable to the transferred contributor.

(3) In this clause:
"allowance", in relation to a transferred contributor, means such part of the amount of a benefit that has been paid to the transferred contributor from a superannuation scheme as, in the opinion of the Board, represents the employer-financed component of the benefit.
"the 1983 Regulation" means the New South Wales Retirement Benefits Regulation 1983 .
"the earlier Act" means the New South Wales Retirement Benefits Act 1972 .