Superannuation Act 1916

Any person who immediately before the person becomes an employee within the meaning of this Act was a participant in a Public Service Superannuation Fund may, within 2 months after the date the person becomes an employee, elect to take the benefit of this section. Any employee who so elects shall pay to STC an amount equivalent to such part of the sum received by the employee by virtue of ceasing to be a participant in the Public Service Superannuation Fund as STC calculates to be necessary to purchase fully paid up units (but excluding a fraction of a unit) and such person shall be deemed to be a contributor for that number of units but shall not be required to make further contribution in respect of those units.

The amount payable to STC pursuant to subsection (1) shall not include any amount received by the person in respect of payments made by the person as a participant in the Public Service Superannuation Fund on account of reserve units of pension.

An amount paid to STC under this section shall be paid into and form part of the Fund, and shall for the purpose of this Act be deemed to be contributions made by the employee to the Fund.

(Repealed)

Where a person who has exercised the right of election conferred by this section dies, or where the person retires under subsection (1B) of section 21 before the person reaches the age of sixty years, or where the person is retired under section 22 before the person reaches that age, or where, being a woman contributing for retirement at the age of fifty-five years she is retired under section 22 before reaching that age, STC may, except where the amount paid under subsection (1) is refunded pursuant to section 32A or 32B, determine that a specified amount, being part of the amount so paid, be refunded to that person or, where the person is dead, to the person’s personal representatives, and may act in accordance with its determination.