Mobility between public sector schemes and successor funds
128 Mobility between public sector schemes and successor funds
An employee has a right to transfer from an STC scheme to a successor fund if the employee—
is a member of or contributor to an STC scheme because of employment with a public sector employer prescribed by the regulations, and
subsequently transfers employment to an employer that is responsible for the payment of benefits in respect of a successor fund, and
meets the eligibility requirements prescribed by the regulations.
An employee has a right to transfer from a successor fund (the current successor fund) to an STC scheme if—
the employee was previously a member of or contributed to the STC scheme, and
the employee has transferred—
directly from the STC scheme to the current successor fund, or
from the STC scheme to the current successor fund by way of other successor funds or relevant schemes, and
each transfer was—
in accordance with regulations made under this Part or Part 6, or
by the exercise of an option under this Act or another Act establishing an STC scheme, and
the employee subsequently transfers employment from an employer that is responsible for the payment of benefits in respect of the current successor fund to a public sector employer prescribed by the regulations, and
the employee meets the eligibility requirements prescribed by the regulations.
In this section—
relevant scheme means—
the electricity industry superannuation scheme, or
the local government superannuation scheme
This provision refers to the regulations (prescribed by the regulations
). Made under this Act:
- Superannuation Administration (Cbus Transitional Provisions) Regulation 2022
- Superannuation Administration (Electricity Superannuation Scheme Transitional Provisions) Regulation 1997
- Superannuation Administration (Local Government Superannuation Scheme Transitional Provisions) Regulation 1997
1 more instrument made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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