State Superannuation Regulations 2001

The Board is to debit to a GESB Super (Retirement Access) Member’s retirement access account —

any amounts paid as benefits to, or in respect of, the Member; and

any amounts transferred to other schemes or to other superannuation funds in satisfaction of a Member’s entitlement to a benefit from the GESB Super (Retirement Access) Scheme; and

any amount paid to the Commonwealth Commissioner of Taxation in respect of the member under regulation 219AB, 219AC or 219ADA; and

the amount of any benefit of the member included in a payment made under regulation 219AD.

The Board may debit to a GESB Super (Retirement Access) Member’s retirement access account —

administrative costs to the extent that they have not been taken into account in the determination of earning rates under regulation 216; and

any tax or other amounts required by a written law or a law of the Commonwealth to be paid by the Board in respect of the Member; and

the amount of any fees payable by the Member for, or in relation to, any product or service provided to the Member in accordance with section 6(1)(e) of the Act.

The Board may only debit an amount to a retirement access account —

under subregulation (2)(a), if an actuary has advised that it is appropriate for that amount to be debited to that account; or

under subregulation (2)(c), if the Member has given the Board written consent to the debiting of that amount to the account.

If the Board debits an amount to a retirement access account under subregulation (2)(c) in respect of a fee payable to a person other than the Board, the Board must pay the amount deducted to that other person.