Superannuation Administration Act 1996

The Minister may approve the preparation of a trust deed providing for a superannuation scheme (a trust deed scheme) for the benefit of any one or more of the following—

State public sector employees,

a class or classes of State public sector employees (including employees of a local council or a public authority),

employees, or a class or classes of employees, or former employees, of employers or former employers under STC schemes,

other employees, or a class or classes of other employees, approved by the Minister,

local government councillors or a class or classes of local government councillors,

spouses or de facto partners of persons referred to in paragraphs (a)–(e), or a class or classes of such spouses or de facto partners.

The Minister may approve the extension of the application of a trust deed scheme to additional persons or classes of persons, being persons or a class or classes of persons of a kind referred to in subsection (1).

The trust deed may reflect the provisions of any other superannuation schemes, whether established by or under an Act, and may apply different provisions and benefits to different persons, according to the entitlements of the persons under existing State public sector superannuation schemes.

Further arrangements may be made for the incorporation of a body to be the trustee of the proposed trust deed scheme.

The trust deed must include provisions to ensure that a right that a contributor to, or a member of, the scheme it establishes has immediately before the deed takes effect is not removed or restricted. The rules included in the deed may, however, confer additional rights on a contributor or member.

The trust deed must be consistent with the requirements of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth for a regulated fund within the meaning of that Act and any trustee must satisfy the requirements of that Act for a trustee.

Before approving the preparation of a trust deed under this section, the Minister must consult with Unions NSW.

A trust deed approved under this section having effect immediately before the commencement of Part 4 of Schedule 3 to the Rural Fires Act 1997 and that relates to employees associated with or involved in local government activities is taken, subject to the regulations, to extend to any such employee who is a transferred officer within the meaning of that Part.

In this section—