Commonwealth Numbered Acts Commonwealth Numbered Acts
1 Paragraph 6(4)(b)
After "Public Sector Superannuation Scheme", insert "(other than as a result of an election under section 6B)".
2 Subparagraph 6(5)(d)(i)
After "Public Sector Superannuation Scheme", insert "(other than as a result of an election under section 6B)".
3 After section 6A
Insert:
6B Election by certain people to leave the Public Sector Superannuation Scheme
(1) A member of the Public Sector Superannuation Scheme, who is making member contributions (within the meaning of the Rules), may elect to cease to be a member of the Scheme if:
(a) the member is not precluded by or under the Superannuation Act 2005 from being a member of PSSAP (other than by paragraph 13(2)(a) of that Act); or
(b) if paragraph (a) of this subsection does not apply--both of the following apply:
(i) the member wants a fund to be a chosen fund for the member (within the meaning of Part 3A of the Superannuation Guarantee (Administration) Act 1992 );
(ii) the member's employer has not refused to accept the chosen fund; or
(c) if neither paragraph (a) nor (b) applies--the member's employer has agreed to make employer contributions to:
(i) a complying superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993 ); or
(ii) a retirement savings account (within the meaning of the Retirement Savings Accounts Act 1997 ).
(2) The election must be given to the Board in writing.
(3) After making an election, the member ceases to be a member of the Public Sector Superannuation Scheme:
(a) if paragraph (1)(a) applies--at the time when the member becomes a member of PSSAP; or
(b) if paragraph (1)(b) applies--at the time when the fund becomes a chosen fund for the member; or
(c) if paragraph (1)(c) applies--the later of the following times:
(i) when the member becomes a member of the complying superannuation fund, or begins to hold a retirement savings account, (as the case requires);
(ii) when the election is given to the Board.
(4) If the member is a member of the Public Sector Superannuation Scheme as a result of holding more than one office or position of employment, or as a result of holding an office or position of employment during more than one period:
(a) the member is required to satisfy subsection (1) in respect of each membership in the Scheme; and
(b) the member must make an election to cease to be a member of the Scheme in respect of membership in the Scheme; and
(c) the member does not cease to be a member of the Scheme until the member has ceased to be a member under subsection (3) in respect of each membership of the Scheme.
(5) For the purposes of section 32FA of the Superannuation Guarantee (Administration) Act 1992 (employer's refusal to accept chosen fund), a member does not choose another fund merely because (as mentioned in subsection (3) of this section):
(a) the member becomes a member of PSSAP; or
(b) a fund becomes a chosen fund for the member; or
(c) the member becomes a member of a complying superannuation fund or begins to hold a retirement savings account.
4 Paragraph 13(2)(a)
After "PSS", insert "(other than a member of the PSS who has made an election under section 6B of the Superannuation Act 1990 )".
5 Subsection 14(4) (note)
Omit "Note", substitute "Note 1".
6 At the end of subsection 14(4)
Add:
Note 2: If a person makes an election under section 6B of the Superannuation Act 1990 to cease to be a member of the PSS, and the PSSAP is the person's mandated fund, the person is taken to become a member of the PSSAP in accordance with this subsection at the time that the election is given to the Board.