Superannuation (Resolution of Complaints) Regulations

Statutory Rules 1994 No. 56 as amended

made under the

Superannuation (Resolution of Complaints) Act 1993

Consolidated as in force on 5 May 1999

(includes amendments up to SR 1998 No. 84)

Prepared by the Office of Legislative Drafting,
Attorney-General’s Department, Canberra

Superannuation (Resolution of Complaints) Regulations

Statutory Rules 1994 No. 56 as amended

Contents

Page

 1 Citation [see Note 1] 

 2 Commencement [see Note 1] 

 3 Interpretation 

 4A Exempt public sector superannuation schemes taken to be regulated super funds (Act, s 4A)             

 5 Payment of death benefits — period for objections and complaints             

 5A Statement of amount or amounts in respect of person’s contributed amounts — period to make complaint             

 6 Complaint-handling bodies 

 7 Method of calculation of interest 

Schedule 1 Exempt Public Sector Superannuation Schemes taken to be regulated superannuation funds

Schedule 2 Complaint-handling bodies

Notes

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1 Citation [see Note 1]

  These regulations may be cited as the Superannuation (Resolution of Complaints) Regulations.

2 Commencement [see Note 1]

  These regulations commence on the commencement of the Superannuation (Resolution of Complaints) Act 1993.

3 Interpretation

  In these regulations:

the Act means the Superannuation (Resolution of Complaints) Act 1993.

4A Exempt public sector superannuation schemes taken to be regulated super funds (Act, s 4A)

  An exempt public sector superannuation scheme specified in Schedule 1 is taken to be a regulated superannuation fund for the purposes of the Act.

5 Payment of death benefits — period for objections and complaints

  For the purposes of paragraph 14 (3) (b), subparagraph 15 (2) (a) (ii), paragraph 15B (2) (b), subparagraph 15C (2) (a) (ii), paragraph 15F (2) (b), subparagraph 15G (2) (a) (ii), paragraph 15J (2) (b) and subparagraph 15K (2) (a) (ii) of the Act, the prescribed period is 28 days.

5A Statement of amount or amounts in respect of person’s contributed amounts — period to make complaint

  For the purposes of subsection 15CA (2) of the Act, the prescribed period is 12 months.

6 Complaint-handling bodies

  For the purposes of subsection 22A (1) of the Act, a body specified in Schedule 2 is prescribed.

7 Method of calculation of interest

  For the purposes of subparagraph 37A (3) (a) (iii), paragraph 37A (4) (c) and subparagraphs 37B (2) (a) (iii), 37D (3) (a) (iv), 37D (5) (a) (iv), 37F (3) (a) (iv) and 37F (5) (a) (iv) of the Act, interest on any:

 (a) money received under a life policy; or

 (b) money received in relation to a life policy fund; or

 (c) money received under an annuity policy; or

 (d) money received under an RSA; or

 (e) money received under a contract of insurance, the premiums for which are paid from an RSA;

  that is required by the Tribunal to be repaid is to be worked out in accordance with the formula:

  where:

p is the amount of money received in a particular calendar month.

n is the number of whole calendar months since the end of that calendar month to the date of the repayment; and

i is worked out to 5 decimal places.

Schedule 1 Exempt Public Sector Superannuation Schemes taken to be regulated superannuation funds

(regulation 4A)

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1. QUEENSLAND

1.1 Parliamentary Contributory Superannuation Fund

1.2 State Public Sector Superannuation Scheme (Q Super)

2. WESTERN AUSTRALIA

2.1 Schemes established by or under:

(a) the Superannuation and Family Benefits Act 1938

(b) the Government Employees Superannuation Act 1987

Schedule 2 Complaint-handling bodies

(regulation 6)

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Notes to the Superannuation (Resolution of Complaints) Regulations

Note 1

The Superannuation (Resolution of Complaints) Regulations (in force under the Superannuation (Resolution of Complaints) Act 1993) as shown in this reprint comprise Statutory Rules 1994 No. 56 amended as indicated in the Tables below.

Table of Statutory Rules

(a) Regulation 4 of Statutory Rules 1994 No. 56 was disallowed by the Senate on 29 August 1994.

Table of Amendments