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9. Financial
E. Superannuation
i. Legislation
Commonwealth:
Made under the Retirement Savings Accounts Act 1997 (Cth):
Made under the Parliamentary Contributory Superannuation Act 1948 (Cth):
Made under the Retirement Savings Accounts Act 1997 (Cth):
Made under the Superannuation Industry (Supervision) Act 1993 (Cth):
Made under the Superannuation Guarantee (Administration) Act 1992 (Cth):
Victoria:
Made under the Emergency Services Superannuation Act 1986 (Vic), Parliamentary Salaries, Allowances and Superannuation Act 1968 (Vic), State Employees Retirement Benefits Act 1979 (Vic), State Superannuation Act 1988 (Vic) and Transport Superannuation Act 1988 (Vic):
ii. Case law
This is an area of substantive law that is very likely to result in case law. As of the last update, we are not aware of any relevant decision of a superior court in this area.
E. Superannuation
i. Legislation
Commonwealth:
Made under the Retirement Savings Accounts Act 1997 (Cth):
- Retirement Savings Accounts Regulations 1997 amended by the Coronavirus Economic Response Package Omnibus Act 2020 (Cth)
Made under the Parliamentary Contributory Superannuation Act 1948 (Cth):
- Parliamentary Contributory Superannuation (Early Release Payments) Regulations 2020: allows early access to superannuation by deferred members in the Parliamentary Contributory Superannuation Scheme (PCSS) due to severe financial hardship and compassionate grounds.
Made under the Retirement Savings Accounts Act 1997 (Cth):
- Retirement Savings Accounts Regulations 1997, amended by:
- Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 2) 2020: amends the above instrument to change the criteria for early release of superannuation that applies for certain skilled temporary visa holders.
Made under the Superannuation Industry (Supervision) Act 1993 (Cth):
- Superannuation Industry (Supervision) Regulations 1994, amended by:
- Coronavirus Economic Response Package Omnibus Act 2020 (Cth); and
- Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 2) 2020: amends the above instrument to change the criteria for early release of superannuation that applies for certain skilled temporary visa holders.
Made under the Superannuation Guarantee (Administration) Act 1992 (Cth):
- Superannuation Guarantee (Administration) Regulations 2018, amended by:
- Superannuation Guarantee (Administration) Amendment (Jobkeeper Payment) Regulations 2020: forms part of the JobKeeper scheme framework and ensures employers are not subject to additional superannuation guarantee obligations as a result of their participation in the JobKeeper scheme.
- Superannuation Guarantee (Administration) Amendment (Jobkeeper Payment) Regulations 2020: forms part of the JobKeeper scheme framework and ensures employers are not subject to additional superannuation guarantee obligations as a result of their participation in the JobKeeper scheme.
Victoria:
Made under the Emergency Services Superannuation Act 1986 (Vic), Parliamentary Salaries, Allowances and Superannuation Act 1968 (Vic), State Employees Retirement Benefits Act 1979 (Vic), State Superannuation Act 1988 (Vic) and Transport Superannuation Act 1988 (Vic):
- Specified Standards for the Early Release of Superannuation Benefits 2020: to specify the standards to be applied to any application for early release of superannuation benefits.
ii. Case law
This is an area of substantive law that is very likely to result in case law. As of the last update, we are not aware of any relevant decision of a superior court in this area.
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