Document ID: chunk:federal_register_of_legislation:F2021C00237:reg:7:p9
Version: federal_register_of_legislation:F2021C00237
Segment Type: reg
Provision Reference: reg 7 (pt 9/46)
Character Range: 61594–64487

concurrent employments.
 2.1.5 Where a current government scheme member, who is employed by two or more designated employers at the same time, ceases to be an employee of one or more but not all of those designated employers, the person will not cease to be a current government scheme member. Also, where a current government scheme member ceases to be employed by one designated employer but immediately afterwards becomes an employee of another designated employer, the person does not cease to be a current government scheme member.
 2.1.6 Where a person is a current government scheme member in respect of two or more concurrent employments, CSC may maintain one personal accumulation account for the member.
Note:  CSC must keep a personal accumulation account (and/or pension account) for each PSSAP member. (See Rule 5.1.1.)

   Concurrent memberships – ordinary employer‑sponsored and government scheme member

 2.1.7 A person may have concurrent PSSAP memberships as an ordinary employer‑sponsored member and as a government scheme member.
 2.1.8 Where a person is concurrently an ordinary employer‑sponsored member and a government scheme member, CSC may maintain one personal accumulation account for the member.
Note:  CSC must keep a personal accumulation account (and/or pension account) for each PSSAP member. (See Rule 5.1.1.)

Division 1A  MySuper product

 MySuper product

Note:   A MySuper product is defined in Rule 1.2.1 as having the same meaning as in the SIS Act.

 MySuper product – general characteristics

 2.1A.1 CSC must ensure that:
           (a) amounts held as a MySuper product, in respect of PSSAP members and non‑member spouses, are invested in accordance with a single diversified investment strategy; and
           (b) all PSSAP members and non‑member spouses who hold a MySuper product are entitled access to the same options, benefits and facilities in relation to their MySuper product; and
           (c) amounts credited to the personal accumulation account or non‑member spouse interest account in respect of a MySuper product under Division 2 of Part 5, or Division 3 of Part 7 of the Rules must not stream gains or losses to only some of those members, except to the extent permitted under Rule 2.1A.2; and
           (d) the process used to credit and debit amounts to a personal accumulation account or a non‑member spouse interest account in respect of a MySuper product must be the same for each member; and
           (e) the only limitation imposed on the source of contributions are those referred to in paragraph 29TC(1)(f) of the SIS Act;
           (f) a MySuper product held by a PSSAP member or non‑member spouse cannot be replaced with another class of interest in PSSAP unless:
               (i) the PSSAP member or non‑member spouse has consented in writing to the replacement no more than 30 days before it occurs; or