Whole Act
34 provisions in continuous reading order
Loading the complete Act…
This Act may be cited as the Superannuation Act 2005.
Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information | ||
|---|---|---|
Column 1 | Column 2 | Column 3 |
Provision(s) | Commencement | Date/Details |
1. Sections 1 and 2 and anything in this Act not elsewhere covered by this table | The day on which this Act receives the Royal Assent. | 29 June 2005 |
2. Sections 3 to 46 | The later of: (a) the day on which this Act receives the Royal Assent; and (b) the day on which the Superannuation (Consequential Amendments) Act 2005 receives the Royal Assent. However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur. | 29 June 2005 (paragraph (a) applies) |
This table relates only to the provisions of this Act as originally passed by the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
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:
he or she chooses to become a member; or
PSSAP is his or her mandated fund.
• 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.
In this Act:
approved authority has the meaning given by section 8.
Australian government superannuation scheme member means a person who is:
a member of the PSS; or
an eligible employee (within the meaning of the Superannuation Act 1976);
so long as the Minister has made a declaration that such a person is an Australian government superannuation scheme member.
See also subsections (2) and (3).
basic employer contribution has the same meaning as in the Rules.
Board has the same meaning as in the Superannuation Act 1990.
CSC (short for Commonwealth Superannuation Corporation) has the same meaning as in the Governance of Australian Government Superannuation Schemes Act 2011.
designated employer has the meaning given by section 19.
eligible CSS/PSS member or former member means a person who is an ordinary employer‑sponsored member of PSSAP under subsection 18(8A).
eligible PSSAP member means a person who is an ordinary employer‑sponsored member of PSSAP under subsection 18(7).
employed has a meaning affected by section 6.
exempt overseas employee has the meaning given by subsection 5(2).
former Australian government superannuation scheme member means:
a person who is a former member of the PSS in respect of whom a preserved benefit under PSS has not yet been paid; or
a person in respect of whom deferred benefits are applicable under the Superannuation Act 1976;
so long as the Minister has made a declaration that such a person is a former Australian government superannuation scheme member.
See also subsections (2) and (3).
invalidity, in relation to a person, means the person’s inability, because of any mental or physical condition, to perform the duties of his or her employment or office.
ordinary employer‑sponsored member of PSSAP has the meaning given by section 18.
Parliamentary Department means a Department of the Parliament established under the Parliamentary Service Act 1999.
PSS means the Public Sector Superannuation Scheme within the meaning of the Superannuation Act 1990.
PSSAP: see Public Sector Superannuation Accumulation Plan.
PSSAP Fund means the fund established, and vested in the Board, by the Trust Deed.
From 1 July 2011, the fund is vested in CSC.
PSS Fund has the same meaning as in the Superannuation Act 1990.
public sector employee has the meaning given by section 5.
Public Sector Superannuation Accumulation Plan or PSSAP means the superannuation scheme established by the Trust Deed.
Rules means the Rules for the administration of PSSAP set out in the Schedule to the Trust Deed.
statutory office has the meaning given by section 7.
Trust Deed means:
the deed referred to in section 10; or
if the deed is amended—the deed as so amended.
A declaration under:
the definition of Australian government superannuation scheme member; or
the definition of former Australian government superannuation scheme member;
is a legislative instrument.
Despite anything in regulations made for the purposes of paragraph 44(2)(b) of the Legislation Act 2003, section 42 (disallowance) of that Act applies to a declaration under:
the definition of Australian government superannuation scheme member; or
the definition of former Australian government superannuation scheme member.
For the purposes of this Act, a person is a public sector employee if, and only if, the person is:
either:
employed by the Commonwealth or an approved authority; or
the holder of a statutory office; and
not an exempt overseas employee.
To avoid doubt, a person who is a member of the Defence Force is not a public sector employee by reason only of being a member of the Defence Force.
For the purposes of this Act, a person is an exempt overseas employee if the person is:
engaged or appointed for employment outside Australia only; and
not specified in a written declaration made by the Minister under this paragraph.
For specification by class, see subsection 13(3) of the Legislation Act 2003.
Declarations
A declaration under paragraph (2)(b) is a legislative instrument.
Despite anything in regulations made for the purposes of paragraph 44(2)(b) of the Legislation Act 2003, section 42 (disallowance) of that Act applies to a declaration under paragraph (2)(b) of this section.
A declaration under paragraph (2)(b) may be expressed to commence on a day not earlier than 12 months before the making of the declaration.
If:
a declaration is made under paragraph (2)(b); and
before the start of the 12‑month period ending immediately before the making of the declaration, basic employer contributions were accepted or purportedly accepted in respect of a person to whom the declaration relates;
the declaration may be expressed to commence on a day not earlier than the earliest day on which those contributions were accepted or purportedly accepted.
Directors of companies and other bodies corporate
For the purposes of this Act, if:
a person is a full‑time director of a company or other body corporate; and
the company or other body is an approved authority; and
the company or other body is incorporated under a law of the Commonwealth or of a State or Territory; and
the person is not specified in a written declaration made by the Minister under this paragraph;
the person is employed by the company or other body.
For specification by class, see subsection 13(3) of the Legislation Act 2003.
The Minister may, by writing, declare that, for the purposes of this Act, a specified person is employed by a company or other body corporate, so long as:
the person is a director of the company or other body; and
the person is not a full‑time director of the company or other body; and
the company or other body is an approved authority; and
the company or other body is incorporated under a law of the Commonwealth or of a State or Territory.
For specification by class, see subsection 13(3) of the Legislation Act 2003.
Declarations
A declaration under paragraph (1)(d) or subsection (2) is a legislative instrument.
Despite anything in regulations made for the purposes of paragraph 44(2)(b) of the Legislation Act 2003, section 42 (disallowance) of that Act applies to a declaration under paragraph (1)(d) or subsection (2) of this section.
For the purposes of this Act, a statutory office is:
an office established by or under:
an Act; or
regulations made under an Act; or
a law of a Territory; or
an office specified in a written declaration made by the Minister under this paragraph.
For specification by class, see subsection 13(3) of the Legislation Act 2003.
Declarations
A declaration under paragraph (1)(b) is a legislative instrument.
Despite anything in regulations made for the purposes of paragraph 44(2)(b) of the Legislation Act 2003, section 42 (disallowance) of that Act applies to a declaration under paragraph (1)(b) of this section.
A declaration under paragraph (1)(b) may be expressed to commence on a day not earlier than 12 months before the making of the declaration.
If:
a declaration is made under paragraph (1)(b); and
before the start of the 12‑month period ending immediately before the making of the declaration, basic employer contributions were accepted or purportedly accepted in respect of a holder of the office to whom the declaration relates;
the declaration may be expressed to commence on a day not earlier than the earliest day on which those contributions were accepted or purportedly accepted.
This section sets out the 2 situations in which an authority or body is an approved authority for the purposes of this Act.
Approved authorities under the Superannuation Act 1990
An authority or body is an approved authority if:
the authority or body was, at the end of 30 June 2005, an approved authority for the purposes of the Superannuation Act 1990; and
the authority or body is not specified in a written declaration made by the Minister under this paragraph.
For specification by class, see subsection 13(3) of the Legislation Act 2003.
Ministerial declarations
The Minister may, by writing, declare that an authority or body is an approved authority for the purposes of this Act, so long as the authority or body is:
a body corporate incorporated for a public purpose by:
an Act; or
regulations made under an Act; or
a law of a Territory; or
an authority or body (other than a body corporate) established for a public purpose by or under:
an Act; or
regulations made under an Act; or
a law of a Territory; or
a company or other body corporate:
that is incorporated under an Act or a law of a State or Territory; and
in which the Commonwealth has a controlling interest; or
an authority or body that is wholly or substantially financed (whether directly or indirectly) by money provided by the Commonwealth; or
a company or other body corporate incorporated under an Act or a law of a State or Territory, where:
an authority or body covered by paragraph (a), (b), (c) or (d), or that is an approved authority because of subsection (2), has a controlling interest in the company or body; or
the Commonwealth and one, or more than one, such authority or body together have a controlling interest in the company or body; or
2 or more such authorities or bodies together have a controlling interest in the company or body.
The Minister must not declare an authority or body to be an approved authority under subsection (3) if the authority or body is an approved authority because of subsection (2).
Declarations
A declaration under paragraph (2)(b) or subsection (3) is a legislative instrument.
Despite anything in regulations made for the purposes of paragraph 44(2)(b) of the Legislation Act 2003, section 42 (disallowance) of that Act applies to a declaration under paragraph (2)(b) or subsection (3) of this section.
A declaration under subsection (3) may be expressed to commence on a day not earlier than 12 months before the making of the declaration.
This Act applies both within and outside Australia.
Before 1 July 2005, the Minister must, for and on behalf of the Commonwealth, by deed:
establish a superannuation scheme that:
is to be known as the Public Sector Superannuation Accumulation Plan; and
may also be known as PSSAP; and
is for the benefit of persons who will be members of PSSAP; and
establish, and vest in the Board, a fund for the purposes of PSSAP; and
set out the functions and powers of the Board in relation to PSSAP and the PSSAP Fund.
The deed under subsection (1) is a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to the deed.
The Minister may, by writing, amend the Trust Deed.
If compliance with a provision of the Trust Deed as amended under subsection (1) would have the effect that PSSAP:
would not be a regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993; or
would not comply with that Act;
that provision is invalid.
An instrument under subsection (1) is a legislative instrument.
Despite anything in regulations made for the purposes of paragraph 44(2)(b) of the Legislation Act 2003, section 42 (disallowance) of that Act applies to an instrument under subsection (1) of this section.
Without limiting section 10 or 11, the Rules:
may provide that, when a splitting agreement or splitting order is received by CSC in respect of a superannuation interest under this Act:
the non‑member spouse is entitled to benefits determined in accordance with the Rules; and
the benefits of the member spouse are reduced in accordance with the Rules; and
may include any other provision that is related to, or consequential on, provisions referred to in paragraph (a).
In this section:
member spouse means a member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
non‑member spouse means a non‑member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
splitting agreement means:
a superannuation agreement (within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975); or
a flag lifting agreement (within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975) that provides for a payment split (within the meaning of that Part).
splitting order means a splitting order within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
superannuation interest means a superannuation interest within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.