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Superannuation Amendment (PSSAP Membership) Act 2020

Authoritative Version
  • - C2020A00086
  • In force - Latest Version
Act No. 86 of 2020 as made
An Act to amend the law relating to superannuation, and for related purposes
Administered by: Finance
Originating Bill: Superannuation Amendment (PSSAP Membership) Bill 2020
Registered 10 Sep 2020
Date of Assent 07 Sep 2020
Table of contents.

Commonwealth Coat of Arms of Australia

 

 

 

 

 

 

Superannuation Amendment (PSSAP Membership) Act 2020

 

No. 86, 2020

 

 

 

 

 

An Act to amend the law relating to superannuation, and for related purposes

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedules............................................................................................ 2

Schedule 1—Amendments                                                                                                3

Superannuation Act 2005                                                                                          3

Schedule 2—Application and transitional provisions                                      7

 


Commonwealth Coat of Arms of Australia

 

 

Superannuation Amendment (PSSAP Membership) Act 2020

No. 86, 2020

 

 

 

An Act to amend the law relating to superannuation, and for related purposes

[Assented to 7 September 2020]

The Parliament of Australia enacts:

1  Short title

                   This Act is the Superannuation Amendment (PSSAP Membership) Act 2020.

2  Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this Act

A single day to be fixed by Proclamation.

However, if the provisions do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3  Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1Amendments

  

Superannuation Act 2005

1  Section 3 (paragraph beginning “A former public sector employee”)

Omit “continue to”.

2  Subsection 4(1)

Insert:

eligible CSS/PSS member or former member means a person who is an ordinary employer‑sponsored member of PSSAP under subsection 18(8A).

eligible PSSAP member means a person who is an ordinary employer‑sponsored member of PSSAP under subsection 18(7).

3  Subsection 4(1) (definition of former Commonwealth ordinary employer‑sponsored member)

Repeal the definition.

4  After paragraph 13(1)(c)

Insert:

               ; or (d)  the person was a member of the PSS or an eligible employee (within the meaning of the Superannuation Act 1976) at a time after the commencement of the Superannuation Amendment (PSSAP Membership) Act 2020 but is no longer such a member or eligible employee.

5  Paragraph 17(1)(a)

Omit “(except a former Commonwealth ordinary employer‑sponsored member)”, substitute “within the meaning of subsection 18(2), (3) or (5)”.

6  Subsection 17(2) (note 2)

Omit “a former Commonwealth ordinary employer‑sponsored member”, substitute “an eligible PSSAP member or an eligible CSS/PSS member or former member”.

7  Subsection 18(1)

Omit “4”, substitute “5”.

8  Subsections 18(7) and (8)

Repeal the subsections, substitute:

Eligible PSSAP member

             (7)  Subject to subsections (8) and (9), if:

                     (a)  at a particular time, a person is a member of PSSAP; and

                     (b)  the person is, or previously was, an ordinary employer‑sponsored member of PSSAP under one or more of subsections (2), (3) and (5); and

                     (c)  the person is, or previously would have been eligible to become, a member of PSSAP because of particular employment or holding one or more particular offices, where the periods of any such employment, and the periods of holding any such office, taken together constitute or constituted a continuous period of at least 12 months;

the person is an ordinary employer‑sponsored member of PSSAP.

Note:          A person who is an ordinary employer‑sponsored member of PSSAP under this subsection is known as an eligible PSSAP member.

             (8)  If:

                     (a)  subsection (2), (3) or (5) applies to a person in respect of any employment of the person or any holding of an office by the person; or

                     (b)  a person is, or would be able to become, a member of the PSS or an eligible employee (within the meaning of the Superannuation Act 1976) in respect of any employment of the person or any holding of an office by the person;

the person is not an ordinary employer‑sponsored member of PSSAP under subsection (7) in respect of that employment or the holding of that office.

Eligible CSS/PSS member or former member

          (8A)  Subject to subsections (8B) and (9), if:

                     (a)  at a particular time, a person is a member of PSSAP; and

                     (b)  the person is, or previously would have been able to become, a member of the PSS or an eligible employee (within the meaning of the Superannuation Act 1976) because of particular employment or holding one or more particular offices, where the periods of any such employment, and the periods of holding any such office, taken together constitute or constituted a continuous period of at least 12 months; and

                     (c)  either:

                              (i)  the person was a former Australian government superannuation scheme member at the time the Superannuation Amendment (PSSAP Membership) Act 2020 commences; or

                             (ii)  the person is a member of the PSS or an eligible employee (within the meaning of the Superannuation Act 1976) at any time on or after the day the Superannuation Amendment (PSSAP Membership) Act 2020 commences;

the person is an ordinary employer‑sponsored member of PSSAP.

Note:          A person who is an ordinary employer‑sponsored member of PSSAP under this subsection is known as an eligible CSS/PSS member or former member.

          (8B)  If:

                     (a)  subsection (2), (3) or (5) applies to a person in respect of any employment of the person or any holding of an office by the person; or

                     (b)  a person is, or would be able to become, a member of the PSS or an eligible employee (within the meaning of the Superannuation Act 1976) in respect of any employment of the person or any holding of an office by the person; or

                     (c)  paragraph 6(2)(ba) of the Superannuation Act 1990 applies to a person in respect of any employment of the person or any holding of an office by the person;

the person is not an ordinary employer‑sponsored member of PSSAP under subsection (8A) in respect of that employment or the holding of that office.

9  Before subsection 18(9)

Insert:

Minister may determine class of excluded persons

10  Subsection 18(9)

After “subsection (7)”, insert “or (8A)”.

11  Paragraph 19(1)(a)

Omit “in respect of particular employment or the holding of a particular office”.

12  Subsection 19(2) (table item 5A)

Repeal the item, substitute:

5A

the person is:

(a) an eligible PSSAP member; or

(b) an eligible CSS/PSS member or former member

if the person has an employer—the employer.

13  Paragraph 42(1)(a)

Omit “(except a former Commonwealth ordinary employer‑sponsored member)”, substitute “within the meaning of subsection 18(2), (3) or (5)”.

14  Paragraph 43(1)(b)

Omit “(except a former Commonwealth ordinary employer‑sponsored member)”, substitute “within the meaning of subsection 18(2), (3) or (5)”.

Schedule 2Application and transitional provisions

  

1  Eligible PSSAP member

A person who is an ordinary employer‑sponsored member of PSSAP under subsection 18(7) of the Superannuation Act 2005 as in force immediately before the commencement of this item continues to be an ordinary employer‑sponsored member of PSSAP under subsection 18(7) of the Superannuation Act 2005 as amended by this Act.

 

 

 

 

[Minister’s second reading speech made in—

House of Representatives on 13 February 2020

Senate on 25 August 2020]

 

(10/20)