RSA means a retirement savings account within the meaning of the Commonwealth Retirement Savings Accounts Act 1997; specified period means the period which is specified to be the specified period in the specified standards; splitting order means an order mentioned in section 90MT of the Commonwealth Family Law Act 1975; S. 3(4) def. of spouse inserted by No. 38/2009 s. 35(2)(a). spouse, in sections 9AA to 9AD, has the meaning given by section 90MD of the Commonwealth Family Law Act 1975; s. 3 S. 3(4) def. of agreement amended by No. 38/2009 s. 35(2)(b). superannuation agreement has the meaning given by section 90MD of the Commonwealth Family Law Act 1975; superannuation fund has the same meaning as in the Commonwealth Superannuation Industry (Supervision) Act 1993; superannuation interest means an interest that a person has in the statutory superannuation fund, but does not include a reversionary interest; unsplittable interest has the meaning given by section 90MD of the Commonwealth Family Law Act 1975; value at a particular time of the non-member spouse's entitlement in respect of the superannuation interest means the value as determined in accordance with regulation
14G(8) of the Commonwealth Family Law (Superannuation) Regulations 2001; value of the member spouse's interest in the statutory superannuation fund means the value as determined in accordance with Part 5 of the Commonwealth Family Law (Superannuation) Regulations 2001. S. 3(5) inserted by No. 70/2003 s. 33. (5) A reference to the transfer of an amount is to be construed as including a reference to the rollover of an amount. S. 3(4) inserted by No. 27/2001 s. 5(Sch. 3 item 6.2), substituted as s. 3(6) by No. 12/2008 s. 73(1)(Sch. 1 item 59.2). (6) For the purposes of the definition of domestic partner in subsection (1)— s. 3 S. 3(6)(a) amended by No. 4/2009 s. 37(Sch. 1 item 24.2(a)). (a) registered domestic relationship has the same meaning as in the Relationships Act 2008; and S. 3(6)(b) amended by No. 4/2009 s. 37(Sch. 1 item 24.2(b)). (b) in determining whether persons who are not or were not in a registered domestic relationship are or were domestic partners of each other, all the circumstances of their relationship are to be taken into account, including any one or more of the matters referred to in section 35(2) of the Relationships Act 2008 as may be relevant in a particular case. S. 3(7) inserted by No. 40/2010 s. 97(2). (7) The definition of partner as substituted by section 97(1) of the Superannuation Legislation Amendment Act 2010 applies in respect of the determination by the Board of an entitlement arising under this or any other Superannuation Act
in the governing instrument of the member's statutory superannuation scheme at any age other than 60 years, the amount of the deferred retirement pension is the amount calculated under section 6 multiplied by . S. 7(7) inserted by No. 72/1990 s. 16, amended by No. 40/2004 s. 40(2). (7) If a person who would be entitled to a deferred retirement benefit by the operation of section 5 is subject to the termination of his or her employment prior to attaining the minimum retirement age fixed in the governing instrument of the member's statutory superannuation scheme on a ground other than disability or death, he or she may elect to receive— (a) a cash benefit equal to a refund of the contributions paid by him or her and interest at the prescribed rate; and S. 7(7)(b) amended by No. 46/1998 s. 7(Sch. 1). (b) a deferred retirement benefit reduced by such amount as is determined by the Minister on the advice of an actuary. S. 7(7A) inserted by No. 95/2000 s. 18(2). (7A) A person who is entitled under subsection (7) to a deferred retirement benefit by the operation of section 5 may elect in writing to the administrators to— (a) convert the entitlement to a present lump sum; and S. 7(7A)(b) substituted by Nos 40/2004 s. 39(2), 37/2007 s. 45. (b) have the lump sum rolled over or transferred within the superannuation system as nominated by the person. S. 7(7B) inserted by No. 95/2000 s. 18(2). (7B) The method of calculating the conversion under subsection (7A) is to be determined by the Minister on the advice of an actuary appointed by the administrators. S. 7(8) inserted by No. 110/1993 s. 149. (8) Subsection (7) applies in respect of any deferred retirement benefit to which a person may be entitled as a result of a previous transfer to a
different category of membership or scheme in the same Fund or to another Fund established by or under an Act if the deferred retirement benefit and the benefit preserved under this Act relate to a period of continuous employment. S. 7A inserted by No. 13/1999 s. 16. 7A Payment of benefits subject to specified standards and other provisions s. 7A Notwithstanding anything to the contrary in this Act or the governing instrument of the member's statutory superannuation scheme, the payment of any benefit under this Act is subject to— (a) any relevant specified standards; and (b) any provisions relating to the early release of benefits— which apply to the member's statutory superannuation scheme. 8 Medical classification A person who elects to take a deferred retirement benefit is entitled to a medical classification under a statutory superannuation scheme of which he or she becomes a member which is no less favourable than the medical classification made under the statutory superannuation scheme from which the deferred retirement benefit was granted. S. 9 repealed by No. 64/1989 s. 36(5), new s. 9 inserted by No. 4/1996 s. 122. 9 Option relating to certain members (1) In this section— approved employer means an employer declared under section 5(1)(c) to be an approved employer in respect of the employment of persons who are officers; officer means a member of a statutory superannuation scheme;
S. 10(4) amended by No. 120/1994 s. 66(2), repealed by No. 4/1996 s. 123, new s. 10(4) inserted by No. 52/1998 s. 311(Sch. 1 item 87). (4) An application for review must be made within 28 days after the later of— (a) the day on which the decision is made; (b) if, under the Victorian Civil and Administrative Tribunal Act 1998, the person requests a statement of reasons for the decision, the day on which the statement of reasons is given to the person or the person is informed under section 46(5) of that Act that a statement of reasons will not be given. 11 Regulations s. 11 (1) The Governor in Council may make regulations for or with respect to any matter or thing required or permitted by this Act to be prescribed or necessary to be prescribed to give effect to this Act. (2) The regulations— (a) may be of general or limited application; and (b) may differ according to differences in time, place or circumstances. 12 Repeal (1) The Superannuation Benefits Act 1977 is repealed. (2) Unless the context otherwise requires, any reference to the Superannuation Benefits Act 1977 in any Act, regulation, subordinate instrument or other document is to be construed as a reference to the Superannuation (Portability) Act 1989. s. 12
Assent Date: 30.6.09 Commencement Date: Ss 35, 36 on 1.7.09: s. 2(1) : This information relates only to the provision/s amending the Superannuation (Portability) Act 1989 Superannuation Legislation Amendment Act 2010, No. 40/2010 Assent Date: 30.6.10 Commencement Date: S. 97 on 1.7.10: Government Gazette 1.7.10 p. 1359 : This information relates only to the provision/s amending the Superannuation (Portability) Act 1989 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Explanatory Details Endnotes No entries at date of publication.