Western Australian Consolidated Regulations Western Australian Consolidated Regulations (1) Subject to
subregulation (6), each employer shall contribute to the Fund in respect
of each category A member in service with that employer the amount or at the
rate recommended by the actuary under subregulation (5), or such other
amount or rate as is agreed between the Board, the actuary and the employers.
(2) An employer shall
pay the contributions payable under subregulation (1) in instalments as
at each salary day.
(3) Each employer
shall contribute to the Fund in respect of each category B member and each
category C member in service with that employer the amount (if any) agreed
between the employer and the member.
(4) An employer may
contribute such further amount in respect of a member as is agreed between the
employer and the member.
(5) In each report on
an actuarial review conducted under section 23(1) of the Act, the actuary
shall advise the Board of the amounts or rates of contributions required from
each employer in order to ensure the stability of the Fund and secure the
rights of members.
(6) The amount or rate
of contributions to be made by an employer under subregulation (1) shall
not be —
(a) less
than 7%; nor
(b) more
than 10%,
of the benchmark
amount multiplied by the number of category A members in service with that
employer.
(7) If the rate of
contributions recommended by the actuary under subregulation (5) is
greater than the maximum rate permitted by
subregulation (6) —
(a) the
Board shall obtain from the actuary a report as to the extent (if any) to
which benefits should be reduced having regard to the level of employer
contributions and the capacity of the Fund to pay benefits; and
(b)
these regulations may be amended to reduce benefits in accordance with that
report.
(8)
Regulation 53(1), (2) and (3) does not apply to an amendment made under
subregulation (7)(b).
[Regulation 15 inserted in Gazette
14 May 1996 p. 2029-30; amended in Gazette 8 Sep 1998
p. 4909; 23 May 2003 p. 1825.]