New South Wales Consolidated Acts

POLICE REGULATION (SUPERANNUATION) ACT 1906 - SECT 5C

5C Conversion notice

(1) A conversion notice is a notification by the Treasurer to a contributor notifying the contributor of the right to make a conversion election under this Part.

(2) The Treasurer must send to each contributor a conversion notice.

(3) A conversion notice must be in writing in the form determined by the Treasurer and may consist of one or more documents.

(4) A conversion notice is to be sent in the manner determined by the Treasurer.

(5) Without limiting any other matters that may be included, a conversion notice must set out the following matters:

(a) a statement to the effect that on taking effect a conversion election will terminate the contributor’s membership of the Fund and of the Fund under the State Authorities Non-contributory Superannuation Act 1987 and terminate any right of the contributor to any benefit (other than a conversion benefit) from those Funds,

(b) the estimated benefits payable in respect of the contributor under this Part on making a conversion election and the estimated amount of benefits payable if the contributor does not make the election,

(c) details of any benefits forgone by the contributor, whether under this Act or the State Authorities Non-contributory Superannuation Act 1987 , on a conversion election taking effect,

(d) the date on which a conversion election is to take effect (in this Part referred to as the "conversion date") and the last date for making an election,

(e) a statement to the effect that on and from the conversion date a contributor who makes the conversion election is required to become a member of the First State Superannuation Fund,

(f) a statement to the effect that independent financial advice should be obtained before making a conversion election and particulars of persons who are available to provide that advice,

(g) a statement of the manner in which a conversion election is to be made,

(h) a statement of the manner in which a conversion election may be amended or revoked and the last date on which it may be amended or revoked.