Document ID: chunk:federal_register_of_legislation:F2021C00237:reg:7:p10
Version: federal_register_of_legislation:F2021C00237
Segment Type: reg
Provision Reference: reg 7 (pt 10/46)
Character Range: 64242–66994

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
               (ii) as otherwise permitted by the SIS Act;
           (g) a MySuper product held by a PSSAP member or non‑member spouse cannot be replaced with a beneficial interest in another superannuation entity unless:
               (i) the replacement is permitted, or is required, under a law of the Commonwealth; or
               (ii) the PSSAP member or non‑member spouse has consented in writing to the replacement no more than 30 days before it occurs;
           (h) a pension is not paid from MySuper assets unless it is permitted by the SIS Act;
           (i) a PSSAP member or non‑member spouse who holds a MySuper product is not precluded from holding an interest in another class in PSSAP only because they hold a MySuper product;
           (j) a PSSAP member or non‑member spouse is not precluded from holding a MySuper product because they hold another interest of another class in PSSAP.
 2.1A.2 CSC may, for the purposes of Rule 2.1A.1, choose to adopt a single diversified investment strategy that allows gains and losses from different classes of assets of the PSSAP Fund to be streamed to different subclasses of the members of the fund who hold a MySuper product, in respect of their MySuper product, on the basis of the age of those members or some other basis which is permitted as a lifecycle exception within the meaning of the SIS Act.
 MySuper product – fees
 2.1A.3 CSC must ensure that any fees deducted from a personal accumulation account or a non‑member spouse interest account in respect of a MySuper product comply with requirements under the SIS Act for the provision of a MySuper product.
 MySuper product – insurance
 2.1A.4 If required by the SIS Act, CSC must provide death and invalidity cover, in accordance with Division 1 of Part 4, to all PSSAP members and non‑member spouses who hold a MySuper product, in respect of their MySuper product.
 2.1A.5 CSC must ensure that the death and invalidity cover provided in respect of a MySuper product under Division 1 of Part 4 of the Rules complies with requirements under the SIS Act for the provision of a MySuper product.
Division 2  Contributions by employers

   Basic contributions by designated employers

 2.2.1 Subject to Rules 2.2.1AA and 2.2.1B, each pay day the designated employer of a person who is an ordinary employer-sponsored member under subsection 18(2), 18(3) or 18(5) of the Act must pay as contributions to CSC an amount equal to 15.4% of the superannuation salary of the member.
 2.2.1AA