Table Of Contents

Parliamentary Contributory Superannuation (Savings and Transitional) Regulation 1999

His Excellency the Governor, with the advice of the Executive Council, has made the following Regulation under the Parliamentary Contributory Superannuation Act 1971.

JOHN DELLA BOSCA, M.L.C.,Special Minister of State
2   Definitions
In this Regulation:
the Act means the Parliamentary Contributory Superannuation Act 1971.
the amending Act means the Superannuation Legislation Further Amendment Act 1997.
3   Notes
The explanatory note and table of contents do not form part of this Regulation.
4   Payment of pension to certain existing members who reach age of 70
(1)  This clause applies to a member who:
(a)  attained the age of 65 years before the repeal of section 27B of the Act by the amending Act and attained or will attain the age of 70 years after that repeal, and
(b)  was a member immediately before that repeal, and
(c)  had ceased to contribute to the Fund before that repeal but has recommenced contributions to the Fund, and
(d)  has not received a benefit under the Act, and
(e)  was not, or will not be, entitled to salary in respect of an aggregate period of 7 years or more on attaining the age of 70 years.
(2)  Any such member is, on attaining the age of 70 years, taken for the purposes of section 22C (1) of the Act to be entitled to a pension under section 19 of the Act, subject to the qualification set out in subclause (3).
(3)  The amount of pension payable to the person is to be calculated as if “A” in the formula set out in section 19 (1) of the Act was calculated as follows:
A is an amount calculated at the rate equal to an aggregate percentage of current basic salary, where the percentage is obtained by multiplying 48.8 by the ratio of the number of the member’s completed months of service at age 70 to 84 months of service.