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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
Superannuation Legislation Amendment Bill 2008
TABLE OF PROVISIONS
Clause Page
PART 1--PRELIMINARY 1
1 Purpose 1
2 Commencement 2
PART 2--EMERGENCY SERVICES SUPERANNUATION
ACT 1986 3
3 Amendment of section 3--Definitions 3
4 Amendment of section 4--Application of Act 3
5 Amendment of section 6--Objectives and duties of the Board 4
6 Amendment of section 6A--Functions and powers of the Board 4
7 Amendment of section 20A--Contributions 4
8 New section 20PA inserted--Entitlements in respect of returning
members who are operational staff members 5
20PA Entitlements in respect of returning members who are
operational staff members 5
9 Amendment of section 21--Definitions 5
10 Amendment of section 21A--ESSPLAN Scheme 6
11 Amendment of section 21B--Membership of ESSPLAN 7
12 Amendment of section 21E--Amount and payment of benefits
under ESSPLAN 7
13 Amendment of section 21F--Disability and death cover under
ESSPLAN 8
14 New section 21FA inserted--Optional additional disability and
death cover under ESSPLAN 8
21FA Optional additional disability and death cover under
ESSPLAN 8
15 Amendment of section 21G--Disability and death insurance
under ESSPLAN 9
16 Amendment of section 21H--Amount and payment of disability
or death benefit 9
17 Amendment of section 21I--Member's accounts for ESSPLAN 10
18 Amendment of section 21J--Beneficiaries Accounts 10
19 Amendment of section 21JA--Spouse Accounts 11
20 Amendment of section 29A--Specified standards 12
561169B.I-10/6/2008 i BILL LA INTRODUCTION 10/6/2008
Clause Page
PART 3--AMENDMENTS TO OTHER ACTS 13
21 Amendment of State Superannuation Act 1988 13
22 Amendment of Transport Superannuation Act 1988 13
23 Amendment of Victorian Managed Insurance Authority
Act 1996 13
PART 4--REPEAL OF AMENDING ACT 14
24 Repeal of amending Act 14
ENDNOTES 15
561169B.I-10/6/2008 ii BILL LA INTRODUCTION 10/6/2008
PARLIAMENT OF VICTORIA
Introduced in the Assembly
Superannuation Legislation
Amendment Bill 2008
A Bill for an Act to amend the Emergency Services Superannuation
Act 1986, the State Superannuation Act 1988, the Transport
Superannuation Act 1988 and the Victorian Managed Insurance
Authority Act 1996 and for other purposes.
The Parliament of Victoria enacts:
PART 1--PRELIMINARY
1 Purpose
The purpose of this Act is to--
(a) amend the Emergency Services
5 Superannuation Act 1986 to enable greater
access to superannuation products and
services;
561169B.I-10/6/2008 1 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 1--Preliminary
s. 2
(b) consequentially amend the State
Superannuation Act 1988 and the
Transport Superannuation Act 1988;
(c) amend section 25A of the Victorian
5 Managed Insurance Authority Act 1996 to
extend from 1 year to 5 years the maximum
period that may be specified by the Minister
in a direction in respect of the period for
which insurance or an indemnity is to be
10 provided by the Victorian Managed
Insurance Authority.
2 Commencement
This Act comes into operation on the day after the
day on which it receives the Royal Assent.
__________________
561169B.I-10/6/2008 2 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 3
PART 2--EMERGENCY SERVICES SUPERANNUATION
ACT 1986
3 Amendment of section 3--Definitions
In section 3(1) of the Emergency Services See:
Act No.
5 Superannuation Act 1986 insert the following 94/1986.
definitions-- Reprint No. 6
as at
1 December
"eligible beneficiary means a person who is 2005
entitled to a benefit under a Superannuation and
amending
Act (other than this Act) or an administered Act Nos
10 scheme; 97/2005,
41/2006,
returning member means a person who-- 37/2007 and
12/2008.
(a) was as an officer or other member of LawToday:
www.
the police force of Victoria under the legislation.
Police Regulation Act 1958; and vic.gov.au
15 (b) is re-appointed under a fixed term
agreement as an officer or other
member of the police force of Victoria
under the Police Regulation Act
1958;".
20 4 Amendment of section 4--Application of Act
After section 4(7) of the Emergency Services
Superannuation Act 1986 insert--
"(8) A returning member who is an operational
staff member cannot become a contributor.
25 (9) Despite anything to the contrary in this
section, an eligible beneficiary--
(a) may become a member of the
ESSPLAN Scheme in accordance with
section 21B(1)(c);
30 (b) who becomes a member of the
ESSPLAN Scheme in accordance with
section 21B(1)(c) is not a contributor to
the Scheme.".
561169B.I-10/6/2008 3 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 5
5 Amendment of section 6--Objectives and duties of
the Board
After section 6(2)(f) of the Emergency Services
Superannuation Act 1986 insert--
5 "(fa) have regard to the interests of contributing
employers under the Scheme, a
Superannuation Act or an administered
scheme; and".
6 Amendment of section 6A--Functions and powers
10 of the Board
After section 6A(3)(a)(iii) of the Emergency
Services Superannuation Act 1986 insert--
"(iv) to provide superannuation advice and
financial planning services for beneficiaries,
15 contributors, members and eligible
spouses;".
7 Amendment of section 20A--Contributions
After section 20A(3) of the Emergency Services
Superannuation Act 1986 insert--
20 "(3A) For the purposes of subsection (3), the Board
may review the contributions payable by a
part-time contributor.
(3B) If after a review under subsection (3A), the
Board considers that the contributions paid
25 by the part-time contributor during the
period reviewed do not bear the same
proportion to the contributions otherwise
determined in accordance with this section
that the service of the part-time contributor
30 bears to the service of a person in similar
employment on a full-time basis, the Board
may require the part-time contributor to
make additional contributions as determined
by the Board.".
561169B.I-10/6/2008 4 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 8
8 New section 20PA inserted--Entitlements in respect
of returning members who are operational staff
members
After section 20P of the Emergency Services
5 Superannuation Act 1986 insert--
"20PA Entitlements in respect of returning
members who are operational staff
members
(1) If the circumstances specified in section 20E,
10 20F, 20G, 20H or 20O apply--
(a) a returning member who is an
operational staff member; or
(b) in the event of the death of a returning
member who is an operational staff
15 member, a dependant or nominee of the
returning member--
is entitled to a benefit under the relevant
section calculated and payable in accordance
with this Part as if the returning member who
20 is an operational staff member were a
contributor.
(2) For the purposes of this section--
(a) membership means the period of
service under the fixed term agreement;
25 and
(b) the accrual rate specified in section
20C(1)(a) is to be taken to apply for
each year of the fixed term agreement.".
9 Amendment of section 21--Definitions
30 In section 21 of the Emergency Services
Superannuation Act 1986--
(a) in the definition of beneficiary for "or
former contributor" substitute ", former
contributor or eligible beneficiary";
561169B.I-10/6/2008 5 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 10
(b) for the definition of eligible spouse
substitute--
"eligible spouse, in relation to a member,
contributor or former contributor, has
5 the same meaning as spouse has in
section 10 of the Superannuation
Industry (Supervision) Act 1993 of the
Commonwealth;";
(c) for the definition of member substitute--
10 "member means a person who is--
(a) a member of the ESSPLAN
Scheme under section 4(7)
or 4(8); or
(b) a contributor who becomes a
15 member of the ESSPLAN Scheme
in accordance with section
21B(1)(b); or
(c) an eligible beneficiary who
becomes a member of the
20 ESSPLAN Scheme in accordance
with section 21B(1)(c);".
10 Amendment of section 21A--ESSPLAN Scheme
After section 21A(2)(a) of the Emergency
Services Superannuation Act 1986 insert--
25 "(ab) subject to any specified standards, any other
contributions made by, or in respect of, a
member or eligible spouse;
(ac) subject to any specified standards, any
amount rolled over, transferred or allotted
30 from within the superannuation system;".
561169B.I-10/6/2008 6 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 11
11 Amendment of section 21B--Membership of
ESSPLAN
(1) In section 21B(1)(b) of the Emergency Services
Superannuation Act 1986 for "the participating
5 employer." substitute "the participating
employer; or".
(2) After section 21B(1)(b) of the Emergency
Services Superannuation Act 1986 insert--
"(c) if the person is an eligible beneficiary and
10 applies in writing to the Board to become a
member, if and when the Board accepts the
application; or
(d) if the person is a returning member who is an
operational staff member, on the
15 commencement of the fixed term
agreement.".
(3) Sections 21B(2), 21B(3), 21B(4) and 21B(5) of
the Emergency Services Superannuation Act
1986 are repealed.
20 12 Amendment of section 21E--Amount and payment
of benefits under ESSPLAN
For sections 21E(3) and 21E(4) of the Emergency
Services Superannuation Act 1986 substitute--
"(3) Subject to subsection (2), the benefit is
25 payable unless--
(a) a member applies in a form approved
by the Board to defer payment of
benefits or to pay the benefits to an
investment fund maintained for that
30 purpose by the Board; and
(b) the application is approved by the
Board.".
561169B.I-10/6/2008 7 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 13
13 Amendment of section 21F--Disability and death
cover under ESSPLAN
(1) In section 21F(1) of the Emergency Services
Superannuation Act 1986--
5 (a) after "member who" insert "is not an eligible
beneficiary and who";
(b) for "Part 3" substitute "Part 3AA".
(2) For section 21F(4) of the Emergency Services
Superannuation Act 1986 substitute--
10 "(4) Unless the Board otherwise determines, a
member's disability and death benefits cover
in force under this section ceases 30 days
after section 21B(10) applies to that
member.".
15 (3) In section 21F(5) of the Emergency Services
Superannuation Act 1986 for "Part 3" substitute
"Part 3AA".
(4) Section 21F(12) of the Emergency Services
Superannuation Act 1986 is repealed.
20 14 New section 21FA inserted--Optional additional
disability and death cover under ESSPLAN
After section 21F of the Emergency Services
Superannuation Act 1986 insert--
"21FA Optional additional disability and death
25 cover under ESSPLAN
(1) The Board may in accordance with this
section offer optional additional disability
and death cover to members whom the Board
determines are eligible.
30 (2) The Board may determine the level of
optional additional disability and death cover
and the basis on which and the terms and
conditions that are to apply.
561169B.I-10/6/2008 8 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 15
(3) An application for optional additional
disability and death cover--
(a) must be in the form approved by the
Board; and
5 (b) must be accompanied by any
information required by the Board.
(4) For the purposes of this section, the Board
may require a member to submit to any
medical examination that the Board
10 considers appropriate.
(5) The Board may obtain any evaluation of any
medical examination or other information
provided as the Board considers
appropriate.".
15 15 Amendment of section 21G--Disability and death
insurance under ESSPLAN
In section 21G(1) of the Emergency Services
Superannuation Act 1986 for "section 21F"
substitute "sections 21F and 21FA".
20 16 Amendment of section 21H--Amount and payment
of disability or death benefit
(1) In section 21H(1)(b) of the Emergency Services
Superannuation Act 1986 after "21F" insert
"or 21FA".
25 (2) In section 21H(3) of the Emergency Services
Superannuation Act 1986 for "A" substitute
"Unless subsection (4) applies, a".
561169B.I-10/6/2008 9 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 17
(3) After section 21H(3) of the Emergency Services
Superannuation Act 1986 insert--
"(4) Subject to any specified standards, if the
member has given the Board a notice in a
5 form approved by the Board, the Board must
pay the death benefit in respect of the
member that is payable under this Part in
accordance with the notice.".
17 Amendment of section 21I--Member's accounts for
10 ESSPLAN
In section 21I(2)(d) of the Emergency Services
Superannuation Act 1986 before "any other"
insert "subject to any specified standards,".
18 Amendment of section 21J--Beneficiaries Accounts
15 (1) After section 21J(2A) of the Emergency Services
Superannuation Act 1986 insert--
"(2B) Subject to any specified standards, any
amount rolled over, transferred or allotted
from within the superannuation system for
20 the beneficiary may be paid or transferred to
a beneficiary account.".
(2) In section 21J(3)(b) of the Emergency Services
Superannuation Act 1986 before "in the" insert
"unless subsection (3A) applies,".
25 (3) After section 21J(3) of the Emergency Services
Superannuation Act 1986 insert--
"(3A) Subject to any specified standards, if the
beneficiary has given the Board a notice in a
form approved by the Board, the Board must
30 on the death of the beneficiary pay the
balance of the beneficiary account
established under subsection (1) in
accordance with the notice.".
561169B.I-10/6/2008 10 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 19
(4) After section 21J(8) of the Emergency Services
Superannuation Act 1986 insert--
"(9) The Board must debit to a beneficiary
account any other amount payable by the
5 beneficiary.".
19 Amendment of section 21JA--Spouse Accounts
(1) After section 21JA(1) of the Emergency Services
Superannuation Act 1986 insert--
"(1A) Without limiting subsection (1), a person
10 who--
(a) is an eligible spouse; and
(b) within the period of 3 months after the
death of the member spouse applies in
writing to the Board to become a
15 member--
may, if the Board accepts the application to
become a member, make a request under
subsection (1).".
(2) In section 21JA(2) of the Emergency Services
20 Superannuation Act 1986 omit "in accordance
with section 159TC of the Commonwealth
Income Tax Assessment Act 1936".
(3) In section 21JA(3) of the Emergency Services
Superannuation Act 1986--
25 (a) after paragraph (b) insert--
"(ba) subject to any specified standards, any
other contributions made by, or in
respect of, the eligible spouse; and";
(b) in paragraph (d) before "any other" insert
30 "subject to any specified standards,"
(4) Section 21JA(5) of the Emergency Services
Superannuation Act 1986 is repealed.
561169B.I-10/6/2008 11 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 2--Emergency Services Superannuation Act 1986
s. 20
(5) In section 21JA(7)(b) of the Emergency Services
Superannuation Act 1986 before "in the" insert
"unless subsection (7A) applies,".
(6) After section 21JA(7) of the Emergency Services
5 Superannuation Act 1986 insert--
"(7A) Subject to any specified standards, if the
eligible spouse has given the Board a notice
in the form approved by the Board, the
Board must on the death of the eligible
10 spouse pay the balance of the spouse account
in accordance with the notice.".
(7) For section 21JA(8) of the Emergency Services
Superannuation Act 1986 substitute--
"(8) The spouse may elect to--
15 (a) maintain the account in an investment
fund in accordance with section 21K; or
(b) roll over, transfer or allot the account
balance within the superannuation
system.".
20 20 Amendment of section 29A--Specified standards
After section 29A(1)(b) of the Emergency
Services Superannuation Act 1986 insert--
"(ba) specify standards (including conditions) in
respect of the acceptance by the Board of--
25 (i) contributions made by, or in respect of,
a member, eligible spouse or
beneficiary; or
(ii) any amount rolled over, transferred or
allotted from within the superannuation
30 system; and".
__________________
561169B.I-10/6/2008 12 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 3--Amendments to Other Acts
s. 21
PART 3--AMENDMENTS TO OTHER ACTS
21 Amendment of State Superannuation Act 1988 See:
Act No.
50/1988.
(1) In section 4(1) of the State Superannuation Act Reprint No. 6
1988 for "This" substitute "Subject to subsection as at
1 December
5 (1A), this". 2005
and
(2) After section 4(1) of the State Superannuation amending
Act 1988 insert-- Act Nos
97/2005,
"(1A) Subsection (1) does not apply if the officer is 24/2006,
37/2007 and
a member of the ESSPLAN Scheme in 12/2008.
10 accordance with section 21B(1)(c) of the LawToday:
www.
Emergency Services Superannuation Act legislation.
1986.". vic.gov.au
22 Amendment of Transport Superannuation Act 1988 See:
Act No.
33/1988.
(1) In section 4(5) of the Transport Superannuation Reprint No. 5
15 Act 1988 for "This" substitute "Subject to as at
1 December
subsection (5A), this". 2005
and
(2) After section 4(5) of the Transport amending
Superannuation Act 1988 insert-- Act Nos
97/2005,
"(5A) Subsection (5) does not apply if the 37/2007 and
12/2008.
20 employee is a member of the ESSPLAN LawToday:
Scheme in accordance with section www.
legislation.
21B(1)(c) of the Emergency Services vic.gov.au
Superannuation Act 1986.".
23 Amendment of Victorian Managed Insurance See:
Act No.
25 Authority Act 1996 11/1996.
Reprint No. 3
In section 25A(3)(c) of the Victorian Managed as at
1 July 2006
Insurance Authority Act 1996 for "one year" and
substitute "5 years". amending
Act No.
80/2006.
LawToday:
www.
legislation.
vic.gov.au
__________________
561169B.I-10/6/2008 13 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Part 4--Repeal of Amending Act
s. 24
PART 4--REPEAL OF AMENDING ACT
24 Repeal of amending Act
This Act is repealed on the first anniversary of its
commencement.
5 Note
The repeal of this Act does not affect the continuing operation of
the amendments made by it (see section 15(1) of the
Interpretation of Legislation Act 1984).
561169B.I-10/6/2008 14 BILL LA INTRODUCTION 10/6/2008
Superannuation Legislation Amendment Bill 2008
Endnotes
ENDNOTES
By Authority. Government Printer for the State of Victoria.
561169B.I-10/6/2008 15 BILL LA INTRODUCTION 10/6/2008
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