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Title

PARLIAMENTARY SUPERANNUATION BILL 2004

PARLIAMENTARY SUPERANNUATION AND OTHER ENTITLEMENTS LEGISLATION AMENDMENT BILL 2004

In Committee

Database

Senate Hansard

Date

16-06-2004

Source

Senate

Parl No.

40

Electorate

Queensland

Interjector

 

Page

23987

Party

AD

Presenter

 

Status

Final

Question No.

 

Questioner

 

Responder

 

Speaker

Cherry, Sen John

Stage

In Committee

Type

 

Context

Bills

System Id

chamber/hansards/2004-06-16/0189


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Wednesday, 16 June 2004
Page: 23987


Senator CHERRY (6:49 PM) —I move Democrat amendment (7) on sheet 4252, which I have spoken to previously:

(7) Schedule 1, item 4, page 12 (after line 21), at the end of the item, add:

20 Members may opt not to continue in scheme

(1) For the purposes of this Act, if a person:

(a) was entitled to parliamentary allowance immediately before and after the date determined in subsection 5(1) of the Parliamentary Superannuation Act 2004, and

(b) the person notifies the trustees of the Parliamentary Contributory Super-annuation Scheme of his or her desire to close off their entitlement under that scheme and have future service determined under the new scheme; and

(c) the person has less than 18 years service under the old scheme;

then the new scheme entry time shall be the date the trustees accept the notification.

(2) Where a person chooses to leave the scheme under clause, the person is entitled, after the end of the first scheme contribution period, to a retiring allowance (the preserved initial allowance) under this clause at the preserved initial percentage (see subclause (5)) of the rate of parliamentary allowance for the time being payable to a member.

(3) For the purposes of the reference in subclause (2) to the rate of parliamentary allowance for the time being payable to a member, any reductions of a particular member's entitlement to parliamentary allowance under Division 2 of Part 1 of Schedule 3 to the Remuneration and Allowances Act 1990 as a result of salary sacrifice are to be disregarded.

(4) The person's entitlement to the preserved initial allowance is suspended for the duration of any later new scheme contribution period of the person.

(5) The preserved initial percentage is, from the end of the new scheme contribution period of the person to the start of the next (if any) new scheme contribution period of the person, the percentage that would have been applied to the rate of parliamentary allowance in order to calculate the rate of retiring allowance (other than additional retiring allowance) payable to the person under section 18, or under this clause, if the person had retired involuntarily, immediately before the start of the firstmentioned new scheme contribution period.

(6) If the person has served as a Minister of State or an office holder, the person is entitled, after the end of the first scheme contribution period, and in respect of each relevant office, to a retiring allowance (the preserved additional initial allowance) under this clause at the preserved additional initial percentage (see subclause (8)) of the rate, for the time being, of:

(a) for an office as a Minister of State—the salary payable to a Minister of State; or

(b) for an office as an office holder, the allowance by way of salary payable to an office holder in respect of that office.

(7) The person's entitlement to the preserved initial additional allowance is suspended for the duration of any later new scheme contribution period of the person.

(8) The preserved additional initial percentage for a relevant office is, from the end of the new scheme contribution period of the person to the start of the next (if any) new scheme contribution period of the person, the percentage that was applied to:

(a) for an office referred to in paragraph (1)(a)—the salary payable to a Minister of State; or

(b) for an office referred to in paragraph (1)(b)—the allowance by way of salary payable to an office holder in respect of that office;

in order to calculate the rate of additional initial retiring allowance that would have been payable to the person under section 18(9) or under this clause , if the person had retired involuntarily, immediately before the start of the firstmentioned new scheme contribution period.

(9) If, immediately before the start of a new scheme contribution period of the person, the person would not have been entitled to have been paid an additional retiring allowance, or would have been paid a reduced rate of additional retiring allowance, because of all or any of the following provisions:

(a) Part VA;

(b) subsection 18(10B) or subclause (6) of this clause;

(c) subsection 20(3A);

(d) section 21;

(e) section 21B;

this clause applies to the person as if the person were, at that time, entitled to be paid the additional initial retiring allowance he or she would have been paid if those provisions had not applied.

(10) Nothing in this clause entitles the person to additional initial retiring allowance at a rate that exceeds:

(a) if the person is entitled to additional retiring allowance in respect of one relevant office only—75% of the rate, for the time being, at which salary or allowance by way of salary, as the case may be, is payable in respect of that office; or

(b) if a person is entitled to additional retiring allowance in respect of 2 or more relevant offices—75% of the rate that is the highest rate, for the time being, at which salary or allowance by way of salary, as the case may be, is payable in respect of either or any of those offices.

Question put:

That the amendment (Senator Cherry's) be agreed to.