Document ID: chunk:federal_register_of_legislation:F2008L02863:body:0:p1
Version: federal_register_of_legislation:F2008L02863
Segment Type: other
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Character Range: 0–2822

THIRTY-FIRST AMENDMENT
of the
PUBLIC SECTOR SUPERANNUATION SCHEME TRUST DEED

THIS DEED is made on 29 July 2008 by THE COMMONWEALTH OF AUSTRALIA.

WHEREAS section 4 of the Superannuation Act 1990 (the Act) provides for the Minister to establish an occupational superannuation scheme to be administered by the Board established under section 20 of the Act (the Board);

AND WHEREAS the Public Sector Superannuation Scheme (the PSS) was established by a Trust Deed dated 21 June 1990 (the Trust Deed)[1];

AND WHEREAS the Schedule to the Trust Deed contains Rules for the administration of the PSS (the Rules);

AND WHEREAS the Trust Deed and the Rules have been amended from time to time by various Deeds;

AND WHEREAS section 5 of the Act provides for the Minister, by instrument in writing, to amend the Trust Deed, and requires the consent of the Board to amendments in certain circumstances;

AND WHEREAS the consent of the Board is not required to the amendments provided for in this Deed;

NOW THIS DEED WITNESSES as follows:

1. Commencement of amendments

The amendments in this Deed commence on the day after this Deed is registered on the Federal Register of Legislative Instruments.

2. Interpretation

Unless a contrary intention appears, a word or phrase in this Deed has the same meaning that it has in the Trust Deed and the Rules.

3. Application of Deed

If a person became entitled to payment of a benefit pursuant to the Rules between 1 July 2008 and the date on which this Deed commences, the amount of the benefit payable to that person is, following the commencement of this Deed, increased by an amount equivalent to the difference, if any, between the benefit that the person was actually entitled to receive and the benefit that the person would have been entitled to receive had the amendments made by this Deed commenced on 1 July 2008.

4. Amendments relating to the provision of a superannuation guarantee additional amount

4. The Rules are amended as follows:

    4.1 Rule 1.2.1 is amended by inserting the following new definition in alphabetic order:

     "superannuation guarantee means an amount for the purposes of ensuring that
                         additional amount  an employer of a person would not have an individual superannuation guarantee shortfall within the meaning of the Superannuation Guarantee (Administration) Act 1992 in respect of the person for any period in which the person was a member.  Such an amount will be determined by the Board having regard to:

                            (a) the charge percentage specified in subsection 19(2) of the Superannuation Guarantee (Administration) Act 1992 as it applied during the period in which the person was a member; and

                            (b) the advice of an actuary in relation to