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Superannuation Legislation (Commonwealth Employment) Repeal and Amendment (Consequential Amendments) Bill 1998
Schedule 4 Amendment of the Judges’ Pensions Act 1968

   

1  After section 12

Insert:

12A   Benefit payable where Judge ceases to hold office or dies on or after 1 July 199 9

             (1)  This section applies if:

                     (a)  a person who is a Judge ceases otherwise than by death to be a Judge on or after 1 July 1999 and no pension is payable to the person or to a spouse or child of the person; or

                     (b)  a person who is, or has previously been, a Judge dies on or after 1 July 1999 without leaving a spouse or eligible child; or

                     (c)  a person who is, or has previously been, a Judge has died leaving a spouse or spouses or an eligible child or eligible children and:

                              (i)  the pension or pensions payable to the spouse or spouses or the child or children have ceased to be payable; and

                             (ii)  the last such pension that ceased to be payable so ceased on or after 1 July 1999.

             (2)  Subject to subsection (3), there is payable to the person or, if the person has died, to the personal representative of the person an amount of benefit equal to the sum of the following amounts:

                     (a)  the total of the minimum amounts that the Commonwealth would have had to contribute to a complying superannuation fund or scheme for the benefit of the person in order to avoid having any individual superannuation guarantee shortfalls in respect of the person if it were assumed that:

                              (i)  the person was an employee of the Commonwealth (within the meaning of the Superannuation Guarantee (Administration) Act 1992 ) in his or her capacity as a Judge and had never been an employee of the Commonwealth (within the meaning of that Act) in any other capacity; and

                             (ii)  this Act had not been enacted; and

                            (iii)  those contributions were made on a monthly basis;

                     (b)  the interest that would have accrued on the contributions covered by paragraph (a) if it were assumed that:

                              (i)  the contributions had been member contributions made under the superannuation scheme established by deed under the Superannuation Act 1990 ; and

                             (ii)  interest on those contributions had accrued in accordance with determinations by the Commonwealth Superannuation Board under that scheme as to rates of interest and the method of allocating interest.

             (3)  If an amount of benefit is payable to the personal representative of the person under subsection (2), that amount is to be reduced by the sum of the amounts of the pensions (if any) that were paid to the person or any spouse or eligible child of the person under this Act.

             (4)  If an amount of benefit is payable under subsection (2) to the personal representative of a person and no personal representative can be found, the amount is to be paid to any individual or individuals that the Commonwealth Superannuation Board determines.

             (5)  In this section:

Commonwealth Superannuation Board means the Commonwealth Superannuation Board established by the Commonwealth Superannuation Board Act 1998 .

complying superannuation fund or scheme has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 .

individual superannuation guarantee shortfall has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 .