Jennifer Jovic v SAS Trustee Corporation [2007] NSWIRComm 102

Industrial Court of New South Wales

CITATION: Jennifer Jovic v SAS Trustee Corporation [2007] NSWIRComm 102

APPLICANT: Jennifer Jovic PARTIES: RESPONDENT: SAS Trustee Corporation

FILE NUMBER(S): 2359 of 2006

CORAM: Marks J

Superannuation appeal - claim by respondent for interest to be paid on accelerated payments to provide pension on retirement at age 55 - requirement for applicant to show election to contribute to age 55 - applicant's submissions based on equitable grounds - regard to totality of functions, duties and responsibilities of respondent as trustee - no evidence re applicant's election to contribute on the basis of retirement at age 55 - evidence re annual statements since 1991 - applicant contributed lump sum of additional contributions over relevant period - respondent established policy to deal with change in contributor status from retirement age 60 years to 55 years in 1998 CATCHWORDS: Held: Difficulty in proving what occurred many years ago - objective approach - entitlement to a pension payable upon retirement at age 55 is a financial advantage to the appellant - policy formulated by trustee is appropriate - appellant was accorded opportunity to gain entitlement to benefits of early retirement therefore fund should be revenue neutral - respondent acted in conformity with fiduciary and other obligations - appeal dismissed - no order as to costs

LEGISLATION CITED: Superannuation Administration Act 1996 Superannuation Act 1916

McMurtrie v Commonwealth of Australia [2006] NSWCA 148 CASES CITED: Leckie v Crockett and ors (No 2) [2007] NSWIRComm 42 Jo Gedeon v First State Super Trustee Corporation [2005] NSWIRComm 62