Government Superannuation Act 1999

facilitate the transfer of the Victorian Superannuation Fund to Commonwealth supervision;

repeal the Public Sector Superannuation (Administration) Act 1993 and consequentially amend the Borrowing and Investment Powers Act 1987, the State Employees Retirement Benefits Act 1979, the State Superannuation Act 1988, the Superannuation (Portability) Act 1989, the Transport Superannuation Act 1988 and the Victorian Funds Management Corporation Act 1994.

This Act (other than sections 30 and 48) comes into operation on 1 July 1999.

Sections 30 and 48 come into operation on the day on which this Act receives the Royal Assent.

In this Act—

the State Superannuation Fund; and

the MTA Superannuation Fund; and

a public sector superannuation scheme which is declared under section 34 to be an administered scheme;

by or under an Act; or

by a public authority, statutory body, body corporate or other body constituted by or under an Act;

A reference in this Act to the administration of a public sector superannuation scheme includes a reference to the management and control of the policies of that scheme.

If there is any inconsistency between this Act and any other Act or the governing instrument of any public sector superannuation scheme, the provisions of this Act prevail.

If there is any inconsistency between a provision which by virtue of this Act is deemed to form part of or is to be read and construed as forming part of a governing instrument and any other provision of the governing instrument, the first-mentioned provision prevails.

In this section, contributor means a contributor transferred to the Victorian Superannuation Fund under section 34 of the Superannuation Acts (General Amendment) Act 1995.

Despite the transfer of a contributor and the repeal of the Superannuation Acts (General Amendment) Act 1995—

the contributor is entitled to receive the same benefits that he or she would have been entitled to receive had he or she not been so transferred; and

the contributor is entitled to have his or her rights and obligations in existence at the date of the transfer determined in accordance with the provisions of the State Casual Employees Superannuation Act 1989 as in force immediately before that transfer.

Despite the repeal of the State Casual Employees Superannuation Act 1989 and Superannuation Acts (General Amendment) Act 1995, the Minister must continue to pay into the Victorian Superannuation Fund such amounts as would have been payable from time to time under sections 26(3), 27(2) and 31 of the State Casual Employees Superannuation Act 1989 into the State Casual Employees Superannuation Fund if the State Casual Employees Superannuation Act 1989 had not been repealed.

Section 42A of the Public Sector Superannuation (Administration) Act 1993 applies to the early release of part or all of a contributor's benefits as if that Act had not been repealed.

The Local Authorities Superannuation Fund as constituted under and governed by the Local Authorities Superannuation Act 1988 immediately before 1 July 1998 continues, on and after 1 July 1998, as the Local Authorities Superannuation Fund continued in force and governed by the Trust Deed made before 1 July 1998 by Local Authorities Super Pty Ltd, Trustee of the Local Authorities Superannuation Fund.

All assets and liabilities of the Local Authorities Superannuation Fund immediately before 1 July 1998 are transferred on 1 July 1998 to Local Authorities Super Pty Ltd, as Trustee of the Local Authorities Superannuation Fund under the Trust Deed.

Except as in the Trust Deed expressly or by necessary implication provided, all persons, things and circumstances appointed or created by or under the Local Authorities Superannuation Act 1988 or existing or continuing under that Act immediately before 1 July 1998 (including benefit accruals and benefit entitlements) shall under and subject to the Trust Deed continue to have the same status, operation and effect as they respectively would have had if that Act had not been repealed.

No stamp duty or other tax is payable under any Act in respect of anything done under this section.

The Hospitals Superannuation Fund as constituted under and governed by the Hospitals Superannuation Act 1988 immediately before 1 January 1999 continues, on and after 1 January 1999, as the Hospitals Superannuation Fund continued in force and governed by the Trust Deed made before 1 January 1999 by Health Super Pty Ltd as Trustee of the Hospitals Superannuation Fund from 1 January 1999.

All assets and liabilities of the Hospitals Superannuation Fund immediately before 1 January 1999 are transferred on 1 January 1999 to Health Super Pty Ltd as Trustee of the Hospitals Superannuation Fund under the Trust Deed.

Except as in the Trust Deed expressly or by necessary implication provided, all persons, things and circumstances appointed or created by or under the Hospitals Superannuation Act 1988 or existing or continuing under that Act immediately before 1 January 1999 (including benefit accruals and benefit entitlements) shall under and subject to the Trust Deed continue to have the same status, operation and effect as they respectively would have had if that Act had not been repealed.

Without limiting the operation of the Trust Deed, any entity which immediately before 1 January 1999 was making, or was liable to make, contributions to the Hospitals Superannuation Fund—

is on 1 January 1999 deemed to be a participating employer in the Hospitals Superannuation Fund as governed by the Trust Deed; and

must not later than 30 June 1999 provide or execute such documents as Health Super Pty Ltd may require for the purposes of administering the Hospitals Superannuation Fund.

All persons appointed under section 14(1) of the Hospitals Superannuation Act 1988 who are employees of the Hospitals Superannuation Board immediately before 1 January 1999 are deemed as from 1 January 1999 to be employees of Health Super Pty Ltd.

A person to whom subsection (5) applies is entitled to a salary and terms and conditions of employment no less favourable than those which he or she received or was entitled to receive immediately before 1 January 1999 and to all his or her accrued benefits arising from his or her prior employment.

A person to whom subsection (5) applies is not entitled to receive any payment or other benefit by reason only of having ceased to be an employee of the Hospitals Superannuation Board because of this section.

No stamp duty or other tax is payable under any Act in respect of anything done under this section.

The Victorian Superannuation Fund as constituted under and governed by the Public Sector Superannuation (Administration) Act 1993 immediately before 1 July 1999 continues, on and after 1 July 1999, as the Victorian Superannuation Fund continued in force and governed by the Trust Deed made before 1 July 1999 by VicSuper Pty Ltd as Trustee of the Victorian Superannuation Fund from 1 July 1999.

All assets and liabilities of the Victorian Superannuation Fund immediately before 1 July 1999 are transferred on 1 July 1999 to VicSuper Pty Ltd as Trustee of the Victorian Superannuation Fund under the Trust Deed.

Except as in the Trust Deed expressly or by necessary implication provided, all persons, things and circumstances appointed or created by or under the Public Sector Superannuation (Administration) Act 1993 or existing or continuing under that Act immediately before 1 July 1999 (including benefit accruals and benefit entitlements) shall under and subject to the Trust Deed continue to have the same status, operation and effect as they respectively would have had if that Act had not been repealed.

Without limiting the operation of the Trust Deed, any entity which immediately before 1 July 1999 was making, or was liable to make, contributions to the Victorian Superannuation Fund—

is on 1 July 1999 deemed to be a participating employer in the Victorian Superannuation Fund as governed by the Trust Deed; and

must not later than 31 December 1999 provide or execute such documents as VicSuper Pty Ltd may require for the purposes of administering the Victorian Superannuation Fund.

A designated employee who has accepted an offer of employment under section 30 is as from 1 July 1999 an employee of VicSuper Pty Ltd and is entitled to a salary and terms and conditions of employment no less favourable than those which he or she received or was entitled to receive immediately before 1 July 1999 and to all his or her accrued benefits arising from his or her prior employment.

No stamp duty or other tax is payable under any Act in respect of anything done under this section.

This section applies to the Order in Council cited as Specified Standards for the Preservation of Superannuation Benefits which was—

made on 16 June 1999; and

published in the Government Gazette on 20 July 2000.

Notwithstanding anything to the contrary in any Act under which the Order in Council was made or the failure to publish the Order in Council on or before 1 July 1999, the Order in Council is deemed—

to have come into operation on 1 July 1999 as specified in the Order in Council; and

to have full force and effect from 1 July 1999.