Superannuation Act 1957 (Cth)

SUPERANNUATION.

No. 94 of 1957.

An Act to amend the Superannuation Act 1922-1956, and for other purposes.

[Assented to 12th December, 1957.]

BE it enacted by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation. 1.—(1.) This Act may be cited as the Superannuation Act 1957. (2.) The Superannuation Act 1922-1956 is in this Act referred to as the Principal Act. (3.) The Principal Act, as amended by this Act, may be cited as the Superannuation Act 1922-1957.

Commencement. 2. This Act shall come into operation on the day on which it receives the Royal Assent.

Payments by Commonwealth where contributions are at rate for age. 3. Section eighteen of the Principal Act is amended by omitting sub-section (4.) and inserting in its stead the following sub-section:— "(4.) The Commonwealth shall, in respect of each payment of pension made in respect of a child, where the pensioner or

contributor contributed to the Fund on the basis referred to in sub-section (1.) of this section, pay to the Fund a sum equal to three-eighths of the payment so made, excluding so much of the payment as is, by virtue of sub-section (3.) of section thirty-one, sub-section (3.) of section thirty-two, sub-section (2.) of section thirty-three or sub-section (6.) of section fifty-three of this Act, payable without contribution by the Commonwealth.".

Payments by Commonwealth where contributions are not at rate for age. 4. Section nineteen of the Principal Act is amended by omitting Sub-section (2b.) and inserting in its stead the following sub-section:— "(2b.) The Commonwealth shall, in respect of each payment of pension made in respect of a child, where the pensioner or contributor contributed to the Fund on the basis referred to in sub-section (1.) of this section, pay to the Fund a sum which bears to the payment (excluding so much of the payment as is, by virtue of sub-section (3.) of section thirty-one, sub-section (3.) of section thirty-two, sub-section (2.) of section thirty-three or sub-section (6.) of section fifty-three of this Act, payable without contribution by the Commonwealth) the same proportion as the difference between the rate of contribution actually payable by him and four times the rate of contribution prescribed for his age at the date upon which he commenced to pay the contribution bears to eight times the rate so prescribed.".