Contributions by or on behalf of employees
19A Contributions by or on behalf of employees
Contributions may be made to the Fund for crediting to a contributor’s account—
by the contributor (employee contributions), and
by the contributor’s employer in accordance with an agreement between the contributor and the employer under which the contributor is to forgo remuneration yet to be earned and the remuneration foregone is to be applied by the employer to contributions on behalf of the contributor (salary sacrifice contributions).
In this Act and the regulations, a reference (however expressed) to a contribution by an employee or a contributor or a contributor-financed portion of a benefit is taken to include a reference to a salary sacrifice contribution or any part of a benefit financed by a salary sacrifice contribution.
In this Act and the regulations, a reference (however expressed) to an employer contribution or an employer-financed portion of a benefit does not include a reference to a salary sacrifice contribution or any part of a benefit financed by a salary sacrifice contribution.
This provision refers to the regulations (the regulations
). Made under this Act:
- State Authorities Superannuation (Closed Local Government Schemes Transfer) (Savings and Transitional) Regulation 1990
- State Authorities Superannuation (Ex-Snowy Mountains Hydro-Electric Authority Superannuation Fund Transfer) Regulation 2003
- State Authorities Superannuation (Government Railways Superannuation Scheme Transfer) (Savings and Transitional) Regulation 1990
8 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandum
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