New South Wales Consolidated Acts

SUPERANNUATION ACT 1916 - SECT 23BA

23BA Retrospective salary increases

(1) Notwithstanding subsection (2) of section 23B, where a contributor retires or dies or where a pensioner dies and an amount in respect of an increase in the contributor’s or pensioner’s salary that took effect from a day earlier than the day of the contributor’s or pensioner’s retirement or death and payable up to the day of the contributor’s or pensioner’s retirement or death has been paid to the contributor or pensioner, or is payable to the contributor’s or pensioner’s estate, the contributor or pensioner, or in the case of the contributor’s or pensioner’s death, the contributor’s or pensioner’s spouse or de facto partner may make an election to take up any or all of the additional units to which such increase would have entitled the contributor or pensioner had the contributor or pensioner continued to be a contributor.

(2) Pension in respect of the additional units in respect of which an election is made under this section shall be payable from the day following the date of retirement or death of the contributor or pensioner, as the case may be.

(2A) The contributions payable consequent on an election under this section in respect of a unit of pension shall be the contributions that would have been payable had the unit been a unit in respect of which the contributor was required by section 10R (1) to contribute to the Fund.

(2B) Nothing in this section authorises a person to elect to take up abandoned units.

(3) An election under this section shall:

(a) in the case of a person who retired or died before the commencement of the Superannuation (Amendment) Act 1971 be made within three months after such commencement,

(b) in the case of a person who retires after such commencement be made by the contributor or pensioner within three months after the increase is actually paid to the contributor or pensioner and in the event of the person’s death before the expiration of the said three months and the person’s not having made such election be made by the person’s spouse or de facto partner within three months after the person’s death,

(c) in the case of a person who retires after such commencement and dies before the increase is paid be made by the person’s spouse or de facto partner within three months after the increase is paid,

(d) in the case of a contributor who dies before the increase is paid be made by the person’s spouse or de facto partner within three months after the increase is paid:

Provided that STC may in special circumstances allow an election to be made under this section after the expiration of the periods above prescribed.