Member contribution rate, selection of
33 Member contribution rate, selection of
A Gold State Super Member is to select a rate to be the Member’s member contribution rate and give notice of that selection to the Board.
Subject to this regulation a Gold State Super Member may select a member contribution rate of 3%, 4%, 5%, 6% or 7%.
A Member’s selection takes effect from the beginning of the next contribution period after the Board receives the notice of the selection.
[(4) deleted]
A Gold State Super Member whose average contribution rate is 5% may not select a contribution rate of 6% or 7%.
If a Gold State Super Member has selected a contribution rate of 6% or 7% and his or her average contribution rate becomes 5%, the Member’s member contribution rate is reduced to 5% with effect from the next contribution period.
If the Treasurer has given a direction under regulation 14 that is conditional on the Member contributing at a rate set out in the notice —
during the period set out in the direction, the Member’s member contribution rate is the rate set out in the direction; and
subregulation (6) does not apply while the Member is contributing in accordance with that direction.
[Regulation 33 amended: Gazette 26 May 2006 p. 1926.]
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.