Federal Register of Legislation - Australian Government

Primary content

Determinations/Superannuation as made
In this instrument, the Attorney-General provides for the valuation information which the trustee of the Parliamentary Contributory Superannuation Scheme (the Scheme) must provide, when requested to do so, under the family law and superannuation reforms, by separated or divorcing spouses, in property settlements under the Family Law Act 1975. The information provided to such spouses will enable them to value an interest, held by one of them, in the Scheme in accordance with alternative methods and factors approved, in May 2004, in the Family Law (Superannuation)(Methods and Factors for Valuing Particular Superannuation Interests) Approval Amendment 2004 (No. 4), for that purpose.
Administered by: Attorney-General's
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Made 30 Mar 2005
Registered 04 Apr 2005
Tabled HR 10 May 2005
Tabled Senate 10 May 2005

I, PHILIP MAXWELL RUDDOCK, Attorney-General, make this Determination under subregulations 64 (7) and (7B) of the Family Law (Superannuation) Regulations 2001.

Dated 30 March 2005

PHILLIP RUDDOCK


Contents

                        1     Name of Determination                                                                         2

                        2     Commencement                                                                                  2

                        3     Definitions                                                                                           2

                        4     Application of Determination                                                                 3

                        5     Provision of information by trustee — growth phase interests                   3

                        6     Provision of information by trustee — payment phase interests                4

 


  

  

1              Name of Determination

                This Determination is the Family Law (Superannuation) (Provision of Information — Parliamentary Contributory Superannuation Scheme) Determination 2005.

2              Commencement

                This Determination commences on the day after it is registered.

3              Definitions

         (1)   In this Determination:

annuity has the meaning given by subsection 4 (1) of the PCS Act.

associate deferred annuity has the meaning given by section 22CA of the PCS Act.

growth phase table means the table in clause 2 of Part 5 of Schedule 1 to the Methods and Factors Approval.

member has the meaning given by subsection 4 (1) of the PCS Act.

Methods and Factors Approval means the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003.

payment phase table means the table in clause 3 of Part 5 of Schedule 1 to the Methods and Factors Approval.

PCS Act means the Parliamentary Contributory Superannuation Act 1948.

PCS Scheme means the retirement scheme constituted by the PCS Act.

period of service has the meaning given by subsection 4 (1) of the PCS Act.

Regulations means the Family Law (Superannuation) Regulations 2001.

retiring allowance has the meaning given by subsection 4 (1) of the PCS Act.

Secretary has the meaning given by section 22CA of the PCS Act.

splitting agreement has the meaning given by section 22CA of the PCS Act.

transfer amount has the meaning given by section 22CA of the PCS Act.

         (2)   For this Determination, a reference to ‘the relevant date’ in the definition of a factor in the Methods and Factors Approval mentioned in column 4 of an item of the table in section 5 or 6 is to be read as if it were a reference to ‘the appropriate date’.

4              Application of Determination

                This Determination applies to a superannuation interest in the PCS Scheme for which a method and factors have been approved under Part 5 of Schedule 1 to the Methods and Factors Approval.

5              Provision of information by trustee — growth phase interests

                In relation to a superannuation interest mentioned in an item in the following table:

                (a)    for paragraph 64 (7) (a) of the Regulations, the trustee of the PCS Scheme is not required to provide the information about the interest mentioned in column 3 of the item; and

               (b)    for paragraph 64 (7) (b) of the Regulations, the trustee of the PCS Scheme must provide the information about the interest mentioned in column 4 of the item.

 

Item

Superannuation Interest

Information not required to be provided

Information that must be provided

1

An interest mentioned in item 1 of the growth phase table

The information mentioned in paragraphs 64 (4) (a) and (b) and (d) to (i) of the Regulations

The information mentioned in the definition of the following factors in item 1 of the growth phase table:

   (a)  ABP;

   (b)  AARA;

   (c)  PC;

   (d)  LS

The following information in relation to the person who has the interest:

   (a)  the person’s date of birth;

   (b)  the number of complete years in the person’s period of service at the date of the last House of Representatives election before the appropriate date;

   (c)  whether the person became a member (by election or otherwise) at or after the general election on 10 November 2001;

   (d)  for a member of the Senate — whether he or she last became a member of the Senate (by election or otherwise) before the last election for the House of Representatives before the appropriate date

2

An interest mentioned in item 2 of the growth phase table

The information mentioned in paragraphs 64 (4A) (a) to (c) of the Regulations

The information mentioned in the definition of the following factors in item 2 of the growth phase table:

   (a)  ABP;

   (b)  Parl. A;

   (c)  AARA;

   (d)  PC

The date of birth of the person who has the interest

3

An interest mentioned in item 3 of the growth phase table

The information mentioned in paragraphs 64 (4) (a) to (i) of the Regulations

The following information in relation to the person who has the interest:

   (a)  the value of the person’s transfer amount;

   (b)  the operative time of each splitting order and splitting agreement received by the Secretary in respect of the person’s interest;

   (c)  for each splitting order or splitting agreement mentioned in paragraph (b) — the amount of the reduction that would apply under section 22CI of the PCS Act if the person’s associate deferred annuity had become payable

6              Provision of information by trustee — payment phase interests

                In relation to a superannuation interest mentioned in an item in the following table:

                (a)    for paragraph 64 (7B) (a) of the Regulations, the trustee of the PCS Scheme is not required to provide the information about the interest mentioned in column 3 of the item; and

               (b)    for paragraph 64 (7B) (b) of the Regulations, the trustee of the PCS Scheme must provide the information about the interest mentioned in column 4 of the item.

 

Item

Superannuation Interest

Information not required to be provided

Information that must be provided

1

An interest mentioned in item 1 of the payment phase table

The information mentioned in subparagraphs 64 (3) (b) (ii), (iii), (iv) and (v) of the Regulations

The following information in relation to the person who has the interest:

   (a)  the person’s date of birth;

   (b)  the type of retiring allowance or annuity to which the person is entitled

2

An interest mentioned in item 2 of the payment phase table

The information mentioned in subparagraphs 64 (3) (b) (ii), (iii), (iv) and (v) of the Regulations

The date of birth of the person who has the interest

3

An interest mentioned in item 3 of the payment phase table

The information mentioned in subparagraphs 64 (3) (b) (ii), (iii), (iv) and (v) of the Regulations

The following information in relation to the person who has the interest:

   (a)  the person’s date of birth;

   (b)  the type of associate deferred annuity payable to the person