New South Wales Consolidated Acts

STATE PUBLIC SERVICE SUPERANNUATION ACT 1985 - SECT 16

16 Amount of contributions

(1) Until varied as provided by this section, the contribution payable to the Fund by a contributor in respect of a superannuation period is the amount calculated in accordance with the formula:

"C" represents the amount to be ascertained,
"R" represents the rate per cent of salary at which the contributor elected under section 12 to contribute to the Fund,
"E" represents the contributor’s attributed salary specified in the certificate given under section 12 (2) (d) in relation to the contributor, and
"S" represents the contributor’s salary ratio as at the contributor’s entry date calculated on the basis of the information in the certificate provided under section 12 (2) (d) in relation to the contributor.

(2) A contributor may, within the prescribed time after a review date (other than a review date that occurs less than 3 months after the contributor’s first contribution date), lodge with the Board an election to vary the rate per cent of the contributor’s salary to be paid to the Fund.

(3) An election under subsection (2):

(a) shall be in a form approved by the Board for the purposes of this section,

(b) shall specify the varied rate per cent (being 2, 3, 4, 5, 6, 7, 8 or 9 per cent) of the contributor’s salary to be paid to the Fund, and

(c) takes effect on the adjustment date that next succeeds that review date.

(4) The contribution payable to the Fund by a contributor on and from each adjustment date commencing with the adjustment date that next succeeds the first review date that is not less than 3 months later than the contributor’s first contribution date is the amount calculated in accordance with the formula:

"C" represents the amount to be ascertained,
"R" represents the rate per cent of salary at which the contributor has for the time being elected to contribute to the Fund,
"A" represents the contributor’s attributed salary as at the review date that last preceded the adjustment date in relation to which the calculation is made, and
"S" represents the contributor’s salary ratio as at that adjustment date.

(5) Where the nature of the employment of a contributor changes from full-time to part-time or from part-time to full-time, or the amount of time worked part-time by a contributor changes, the amount of the contributor’s contribution to the Fund in respect of the first complete superannuation period during which the change operates, and each succeeding superannuation period until varied in accordance with this Act, is the amount calculated by multiplying by the contributor’s salary ratio at the commencement of the superannuation period the amount of the contribution that would be payable on the basis of the contributor’s attributed salary last applicable for the purpose of calculating contributions to the Fund.

(6) Except as provided by subsection (5) or to the extent that the Board upon the application of a contributor otherwise directs, a reduction in the salary of the contributor below that upon which his or her contributions are based does not, until the adjustment date next after the review date that next succeeds the reduction, affect the amount of the contribution that the contributor is required to pay to the Fund.

(7) Except in the case of a contributor who applies for a direction of the Board under subsection (6), where a contributor’s attributed salary is reduced as a consequence of the contributor’s ill-health or in circumstances that are considered by the contributor to justify the application of this subsection and are approved by the Board, the contributor may apply to the Board in a form that:

(a) is approved by the Board for the purposes of this subsection, and

(b) is accompanied by such evidence of the cause of the reduction in salary as the Board requires,

for the application of subsection (8) to the contributor.

(8) Where the Board approves an application by a contributor under subsection (7), the attributed salary of the contributor shall, for the purposes of this Act and notwithstanding any intervening review date, be deemed to be the same as the contributor’s attributed salary immediately before the reduction until:

(a) the contributor’s attributed salary is equal to or greater than his or her attributed salary immediately before the reduction, or

(b) the Board’s approval is revoked on the application of the contributor,

whichever first occurs.

(9) The result of a calculation of the amount of a contribution to be made under this section shall, where a number of cents included in the result is not an even number of whole cents, be rounded to the nearest higher number that is an even whole number of cents.