New South Wales Consolidated Acts

PARLIAMENTARY CONTRIBUTORY SUPERANNUATION ACT 1971 - SECT 26B

26B Payment of benefit to Fund by former federal members

(1) This section applies to a member:

(a) who is entitled to, or has received, a retiring allowance or other benefit under a superannuation scheme applicable to federal members, and

(b) who became a member on or after 1 January 1996.

(2) A member may elect, not later than 3 months after the date of becoming a member, or within such further period as the trustees may determine in respect of the member, to pay to the Fund an amount of lump sum benefit received by the member as a federal member under a superannuation scheme applicable to federal members. The amount must be paid within the period of 3 months or the further period determined by the trustees.

(3) A member who was a member on the commencement of this section may elect, not later than 3 months after that commencement, or within such further period as the trustees may determine in respect of the member, to pay to the Fund an amount of lump sum benefit received by the member as a federal member under a superannuation scheme applicable to federal members. The amount must be paid within the period of 3 months or the further period determined by the trustees.

(4) The election must be in writing and given to the trustees.