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Superannuation Act 1990 - PSS (Productivity Contribution Rates) Determination No. 1

Authoritative Version
Determinations/Superannuation as made
This Determination amends the productivity contribution rates to reflect changes in general salary levels of members.
Administered by: Finance
General Comments: This Determination was made under clause 4.3.3 of the PSS Rules, as replaced on 1 July 1995. The PSS Rules are a Schedule to the Trust Deed issued under section 4 of the Superannuation Act 1990. The Rules were replaced with effect from 1 July 1995 by the Ninth Amending Trust Deed (FRLI reference: Legislative Instrument F2005B01225). The current version of the PSS Rules as at 06 November 2008 is Legislative Instrument F2008C00441.
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42
Registered 05 Sep 2008
Date of repeal 01 Jul 2005
Repealed by revoked by Superannuation (PSS) Productivity Contributions (2005-2006) Determination 2005

                                            COMMONWEALTH OF AUSTRALIA

 

                                                  SUPERANNUATION ACT 1990

 

                                                            DETERMINATION

 

 

The PSS Board, pursuant to clause 4.3.3 of the Rules, DETERMINES as follows:

 

Citation

 

1.    This determination may be cited as the "PSS Productivity Contribution Rates Determination No. 1".

 

Commencement

 

2.    This determination shall take effect from and including 1 July 1996.     

 

Purpose

 

3.    The purpose of this determination is to amend productivity contribution rates to reflect changes in general salary levels of members.   

 

Interpretation

 

4.(1)    In this determination:

 

"Act" means the Superannuation Act 1990;

 

"Rules" mean the Rules for the Administration of the Superannuation Scheme established by deed under section 4 of the Act, as amended from time to time.

 

(2)    Words and expressions defined in the Rules have the same meaning in this determination.

 

Amendment of Rules

 

5.    The Table entitled "Table - Productivity Contribution Rates" in Rule 4.3.2 is amended by replacing the dollar amounts it contains with the dollar amounts set out in the Table in the Schedule to this determination. 

 

 

 

                  [PSS (Productivity Contribution Rates) Determination No. 1 (continued)]

 

 

 

 

 

 

 

R. L. Brown                                                                                                         John. A. Flitcroft

 

.............................................                                                               ………………………….....

R.L. Brown                                                                                                                      J.A. Flitcroft

(Chairperson)                                                                                                          (Trustee)  

 

 

 

K. A. Searson                                                                                                              D. C. Leaver

 

.............................................                                                                 .............................................

K.A. Searson                                                                                                                   D.C. Leaver

(Trustee)                                                                                                                               (Trustee)

                                                                                                                                                            

 

 

 

 

                                     

 

 

The Common Seal of the PSS Board was hereunto affixed by authority of the Board

 

 

 

 

 

 

Dated this               sixth                    day of                  June                                                    1996

 

SCHEDULE

 

 

REPLACEMENT DOLLAR AMOUNTS FOR THE PURPOSES OF THE TABLE IN PSS RULE 4.3.2

 

 

EFFECTIVE FROM 1 JULY 1996

 

 

 

 

 

 

 

Table - Productivity Contribution Rates

 

 

Relevant Fortnightly

Rates of Salary

 

Fortnightly Amounts

 

Less than $1,014.67

 

$30.44

 

$1,014.67 or more but

less than $1,634.67

 

The amount that is 3% of the member's salary per fortnight

 

$1,634.67 or more but

less than $2,452.00

 

$49.04

 

$2,452.00 or more

 

The amount that is 2% of the member's salary per fortnight