Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) An employee appointed or engaged on or after the transfer day is a member of the accumulation scheme unless he or she elects, after commencing employment, to become a member of an RSA or another complying superannuation scheme.
(2) Notwithstanding subsection (1), an employee appointed or engaged on or after the transfer day may elect, before commencing employment, to become a member of an RSA or another complying superannuation scheme.
(3) If an employee has become a member of an RSA or a complying superannuation scheme, other than the accumulation scheme, that employee may at any time elect to become a member of the accumulation scheme.
(4) An election under this section is to be made in writing to the Agency in which the employee is to commence employment or is employed.
(5) Where an employee elects to become a member of a complying superannuation scheme other than the accumulation scheme, the Agency manager on behalf of the Agency must, on being satisfied after making reasonable inquiries that the nominated scheme is a complying superannuation scheme, make employer superannuation contributions –
(a) in accordance with subsection (7); and
(b) in the manner required by the rules of that scheme and the requirements of the law of the Commonwealth.
(5A) Notwithstanding subsection (5), where an election is made under this section, employer contributions are to be calculated by reference to the employee's salary as defined by the Trust Deed and in accordance with the rate of those contributions specified in that Deed.
(5B) An employee appointed or engaged on or after the commencement of this subsection who elects to join an RSA or a complying superannuation scheme other than the accumulation scheme must pay contributions at the rate of 5 per cent of salary, unless he or she elects at any time to contribute at another rate that is a multiple of one per cent of salary or to make no contributions.
(6) Where an employee elects to become a member of the accumulation scheme or another complying superannuation scheme, the Agency manager on behalf of the Agency must make employer superannuation contributions as provided by subsection (7) and in the manner required by the rules of that scheme.
(6A) Where an employee elects to become a member of an RSA, the Agency manager on behalf of the Agency must make employer superannuation contributions to that RSA as provided by subsection (7).
(7) The rate of employer superannuation contributions is to be the relevant rate specified in the following table:
Period | Rate as percentage of salary or wages |
From the transfer day to 30 June 2000 | 7% |
From 1 July 2000 to 30 June 2002 | 8% |
From 1 July 2002 onwards | 9% |
(8) The Retirement Benefits Act 1993 and the Principal Regulations, other than Part 5, apply in respect of an employee who becomes a member of the accumulation scheme, except to the extent of any inconsistency with the Trust Deed and this Act.