New South Wales Consolidated Acts

STATE AUTHORITIES NON-CONTRIBUTORY SUPERANNUATION ACT 1987 - SECT 23

23 When benefits are payable

(1) The basic benefit (and any preserved basic benefit) and any Commonwealth co-contribution benefit (and any preserved Commonwealth co-contribution benefit) in respect of a person is payable by STC to or in respect of a person:

(a) if the person dies, or

(b) if the person ceases to be employed in the circumstances in which a benefit is payable for the purpose of complying with the requirements of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth for a regulated superannuation fund, or

(c) in any other circumstances in which a benefit is payable to comply with any such requirements or may be paid in respect of a member of such a fund under any such requirements,

and is so payable in accordance with subsection (3).

(2) The whole or part of a benefit may be paid under subsection (1), if such a payment is permitted under the Superannuation Industry (Supervision) Act 1993 of the Commonwealth in the same circumstances in respect of a regulated superannuation fund.

(2A) The whole or part of a benefit must be paid by STC under this section if it is required to be paid under the Superannuation Industry (Supervision) Act 1993 of the Commonwealth in the same circumstances in respect of a regulated superannuation fund.

(3) The basic benefit and any Commonwealth co-contribution benefit in respect of a former employee is payable:

(a) unless the former employee has died-to the former employee, or

(b) if the former employee has died and is survived by a spouse or de facto partner-to the surviving spouse or de facto partner, or

(c) if the former employee has died and is not survived by a spouse or de facto partner-to the personal representatives of the former employee or, if appropriate, in accordance with section 31 (Payment without grant of probate etc).

(4) For the purposes of the payment under subsection (1) (c) of a benefit on compassionate grounds, STC may exercise any function that the Regulator (within the meaning of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth) may exercise for the purpose of determining whether a benefit is payable.

(5) An amount of benefit released under subsection (1) (c) on the grounds of severe financial hardship or on compassionate grounds is not to exceed the amount of any accrued or preserved benefit under this Act that would be payable to the person if the person were eligible to be paid such a benefit.

(6) An amount of benefit released under subsection (1) (c) on the grounds of severe financial hardship or on compassionate grounds may not be paid unless any applicable requirements of any regulations made under section 23B have been complied with.