State Authorities Superannuation (Closed Local Government Schemes Transfer) (Savings and Transitional) Regulation 1990 (1990-213) (NSW)

State Authorities Superannuation (Closed Local Government Schemes Transfer) (Savings and Transitional) Regulation 1990

Part 1 Preliminary

1 Name of Regulation This Regulation may be cited as the State Authorities Superannuation (Closed Local Government Schemes Transfer) (Savings and Transitional) Regulation 1990.

2 Commencement This Regulation commences on 12 April 1990.

3 Definitions (1) In this Regulation: Additional Benefit Reserve Fund means the Additional Benefit Reserve Fund established under section 13 of the current Act. Benefits Fund means the Superannuation Benefits Fund established under section 15S of the earlier Act. Board means the SAS Trustee Corporation established under the Superannuation Administration Act 1996. contributor, in relation to the Provident Fund or the Benefits Fund, means a person by or in respect of whom contributions are made to the Provident Fund or the Benefits Fund. current Act means the State Authorities Superannuation Act 1987. current insurance policy, in relation to a person, means an insurance policy in force in respect of that person that: (a) was effected by or in respect of that person or accepted by the Local Government Superannuation Board or its successor under Part 2 of the earlier Act, and (b) is kept in force by the payment of the premiums under section 6 of that Act. earlier Act means the Local Government and Other Authorities (Superannuation) Act 1927. employer reserve means an employer reserve established and maintained under section 14 of the current Act. final average salary and final salary have the same meanings as they have in section 36 of the current Act. former fixed rate Provident Fund contributor means a person who was, immediately before becoming a transferred contributor, a contributor to the Provident Fund but who did not contribute to that Fund as a result of having made a request under section 7C (1) or (3) of the earlier Act. former variable rate Provident Fund contributor means a person who was, immediately before becoming a transferred contributor, a contributor to the Provident Fund by virtue of having contributed to the Fund as a result of having made a request under section 7C (1) or (3) of the earlier Act. Provident Fund means the Local Government Provident Fund established under section 8 of the earlier Act. SAS Fund means the State Authorities Superannuation Fund established by the Board under section 11 of the current Act. transfer day means 1 May 1990. transferred contributor means a person who becomes a contributor to the SAS Fund by virtue of clause 4 (1), 5 (1) or 6 (1). (2) In relation to a transferred contributor, the definition of accrued benefit points in section 36 of the current Act is to be construed as if the reference in that definition to contributed points figures included a reference to the number of transferred benefit points for the contributor calculated in accordance with Part 3 or 4, as the case requires. (3) For the purpose of applying the definition of prospective benefit points in section 36 of the current Act to a transferred contributor, the reference in that definition to applicable contribution periods is to be construed in such a way as to exclude from calculation any of the contributor's service that occurred before the transfer day. (4) For the purposes of the current Act and this Regulation, a contributor's entry date is to be taken to be the date on which the transferred contributor last became subject to the provisions of the earlier Act. (5) In this Regulation, a reference to a transferred contributor who is a former contributor to the Provident Fund or former contributor to the Benefits Fund is a reference to a person who was a contributor to the Provident Fund or the Benefits Fund immediately before the transfer day.