SUPERANNUATION (PSS) MEMBERSHIP INCLUSION DECLARATION NO. 14 1994 NO. 269

SUPERANNUATION (PSS) MEMBERSHIP INCLUSION DECLARATION NO. 14 1994 NO. 269

STATUTORY RULES 1994 No. 269

Issued by the authority of the Minister for Finance

Superannuation Act 1990

Declaration under paragraph 6(1)(j)

The Superannuation Act 1990 (the Act) makes provision for and in relation to an occupational superannuation scheme, known as the Public Sector Superannuation (PSS) scheme, for Commonwealth employees and certain other persons.

Section 6 of the Act specifies the persons who may be members of the PSS scheme. In accordance with paragraph 6(1)(j) of the Act, a person declared by the Minister for Finance to be a person to whom section 6 applies is a member of the PSS scheme. Declarations made under paragraph 6(1)(j) have been cited as Superannuation (PSS) Membership Inclusion Declarations.

Membership arrangements applying to the PSS generally exclude a person from membership if the person is a member of another superannuation scheme to which the employer has agreed to make employer contributions,

Some PSS scheme members are employed on flexible remuneration arrangements which enable them to receive part of their remuneration as non-cash benefits. Under such arrangements some members may sacrifice a portion of their cash salary in favour of employer superannuation contributions to an alternative superannuation scheme in addition to contributions already being made to the PSS scheme. It is intended that where a PSS member is entitled to such arrangements as part of his or her remuneration package, selection of this option should not exclude the person from membership of the PSS scheme.

The Declaration contained in the Statutory Rules and cited as "Superannuation (PSS) Membership Inclusion Declaration No. 14" amends earlier Superannuation (PSS) Membership Inclusion Declarations to give effect to this intention. The details of the Declaration are set out in the attachment.

Section 45 of the Act provides that such a declaration is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903.

The Declaration commences on gazettal.