Superannuation Act 2005

The following is a simplified outline of this Act:

• This Act provides for a superannuation scheme, to be known as the Public Sector Superannuation Accumulation Plan (PSSAP).

• Generally, a person is eligible to become a member of PSSAP if he or she is a public sector employee who starts work on or after 1 July 2005.

• Generally, if a person is eligible to become a member of PSSAP, he or she becomes a member if:

• A person’s membership of PSSAP continues until the occasion, or the last of the occasions, on which a benefit is paid to or in respect of the member.

• Employers must pay contributions to PSSAP for the benefit of most ordinary employer‑sponsored members of PSSAP.

• A former public sector employee may be able to be an ordinary employer‑sponsored member of PSSAP. Employers are not required by this Act or the Trust Deed to make contributions to PSSAP for the benefit of such a member. However, employers can make contributions to PSSAP for the benefit of such a member if PSSAP is the member’s chosen fund under the Superannuation Guarantee (Administration) Act 1992.

• CSC is responsible for PSSAP.