Document ID: chunk:federal_register_of_legislation:F2024C00321:reg:3:p1
Version: federal_register_of_legislation:F2024C00321
Segment Type: reg
Provision Reference: reg 3 (pt 1/3)
Character Range: 6274–9248

3  Functions and Powers of CSC

     3.1 The functions of CSC in relation to the Public Sector Superannuation Scheme and the PSS Fund are to administer the scheme and to manage and invest the PSS Fund in accordance with the provisions of the Act and this Deed including, without limiting the generality of the foregoing the following functions:
         (a) to pay benefits to or in respect of members, preserved benefit members and associates, and to make payments to and receive payments from the Commonwealth as provided for in the Act;
         (b) to provide information about benefits or potential benefits, and available options, to:
                (i) members;
                (ii) preserved benefit members;
                (iii) associates; and
                (iv) potential members;
         (c) to provide advice to the Minister on proposed changes to the Act and the Deed; and
         (d) to determine interest rates for the purposes of the Public Sector Superannuation Scheme.
     3.2 CSC has power in Australia and elsewhere to do all things necessary or convenient to be done for, or in connection with, the performance of its functions and, in particular, may:
         (a) give guarantees;
         (b) underwrite or sub‑underwrite any form of investment including the underwriting or sub‑underwriting of the issue of shares, debentures or units in a unit trust;
         (c) borrow moneys and give security over the whole or any part of the assets of the PSS Fund;
         (d) appoint agents and attorneys;
         (e) act as agent for other persons;
         (f) engage consultants and investment managers;
         (g) engage a panel of persons to assist it in determining whether a person is to be retired on grounds of invalidity;
         (h) establish a Reconsideration Advisory Committee or Committees to examine and report on decisions of CSC and its delegates under the Rules relating to entitlements to benefits of members, preserved benefit members and associates;
         (i) effect policies with insurers in CSC's name to provide additional death and invalidity cover for members as provided for in the Rules;
         (j) take action to control or manage, or to enhance or protect, the value of, any investment made out of the PSS Fund, or to enhance or protect, the return on any such investment; and
         (l) establish a trust for the purpose of investing the PSS Fund; and
         (m) charge fees, costs and expenses in relation to the PSS Fund, including arrangements connected with members, former members and non‑member spouses choosing particular investment strategies and arrangements connected with splitting of superannuation interests under the Family Law Act 1975, as provided for in the Rules.
     3.2A In exercising its functions and powers CSC shall comply with the requirements of the Superannuation Industry (Supervision) Act 1993 and Regulations made under that Act, and have regard to the interests of members