New South Wales Consolidated Acts

STATE AUTHORITIES NON-CONTRIBUTORY SUPERANNUATION ACT 1987 - SECT 26G

26G Increase in benefit for non-contributing employees who cease employment before start of FSS Scheme

(1) This section applies to a person who ceases to be an employee before the commencement of the First State Superannuation Act 1992 and who was a non-contributing employee at the time he or she ceased to be an employee.

(2) STC must, after obtaining actuarial advice, determine what the minimum basic benefit provided for the person would have to be to ensure that there is no superannuation guarantee shortfall.

(3) The basic benefit provided by this Act for the person is, despite any other provision of this Act, not to be less than the minimum basic benefit determined under subsection (2). The basic benefit provided for the person is to be increased to the extent necessary for the purpose of complying with this section.

(4) Subsection (3) applies to a benefit even if it has already been paid or preserved.

(5) In this section:
"superannuation guarantee shortfall" has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 of the Commonwealth.