Victorian Numbered Acts

SUPERANNUATION LEGISLATION AMENDMENT ACT 2019 (NO. 36 OF 2019) - SECT 4

    (1)     After section 20A(2) of the Emergency Services Superannuation Act 1986 insert —

    "(2AA)     Subject to subsection (7A), from 1 July 2019 a contributor may also elect to make contributions at a rate of 9% or 10% of salary.".

    (2)     In section 20A(2A) and (2B) of the Emergency Services Superannuation Act 1986 , after "subsection (2)" insert "or (2AA)".

    (3)     After section 20A(7) of the Emergency Services Superannuation Act 1986 insert —

    "(7A)     A contributor is permitted to contribute at a rate of 9% or 10% of salary only if at the time of the first election under this section or at any subsequent date on which contributions may be varied, the contributor is an operational staff member whose average contribution rate is less than 7% of their salary over the whole of their period of membership as at the time of the election.".

    (4)     In section 20A(8) of the Emergency Services Superannuation Act 1986 , after "section 20C" insert "or if the contributor has elected to take a transition to retirement pension under section 20T, the reduced maximum under section 20T(4)".

    (5)     After section 20A(12) of the Emergency Services Superannuation Act 1986 insert —

    "(13)     Subject to subsection (16), for the purposes of making contributions, the salary upon which the contributor is to make contributions is to be fixed as at
1 July each year.

    (14)     The employer must within the period of 2 months after 1 July each year notify the Board of any change in the salary of the contributor for the purpose of making contributions.

    (15)     The salary as notified in accordance with subsection (14), or if there is no notification in accordance with subsection (14), the last salary notified, is the salary for the purposes of making contributions for the period commencing on 1 September each year and ending on 31 August in the following year.

    (16)     If the contribution that a member is liable to make changes because of—

        (a)     an election by the member under this section, the contributions are to be adjusted from the date on which the Board accepts the election;

        (b)     a change in the time fraction basis of their employment, the contributions are to be adjusted from the date on which the change to the time fraction basis of their employment took effect.".