Commonwealth Consolidated Acts

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SUPERANNUATION ACT 2005 - SECT 3

Simplified outline

                   The following is a simplified outline of this Act:

•       This Act provides for a superannuation scheme, to be known as the Public Sector Superannuation Accumulation Plan (PSSAP).

•       Generally, a person is eligible to become a member of PSSAP if he or she is a public sector employee who starts work on or after 1 July 2005.

•       Generally, if a person is eligible to become a member of PSSAP, he or she becomes a member if:

               (a)     he or she chooses to become a member; or

              (b)     PSSAP is his or her mandated fund.

•       A person's membership of PSSAP continues until the occasion, or the last of the occasions, on which a benefit is paid to or in respect of the member.

•       Employers must pay contributions to PSSAP for the benefit of ordinary employer-sponsored members of PSSAP.

•       CSC is responsible for PSSAP.



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