Commonwealth: Superannuation Amendment Act 1976 (Cth)

SUPERANNUATION AMENDMENT ACT 1976 No. 32 of 1976 An Act to amend the Superannuation Act 1922-1974, and for related purposes. BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:— Short title and citation. 1. (1) This Act may be cited as the Superannuation Amendment Act 1976. (2) The Superannuation Act 1922-1974 is in this Act referred to as the Principal Act. (3) The Principal Act, as amended by this Act, may be cited as the Superannuation Act 1922-1976. Commencement. 2. (1) Sections 1, 2, 89 and 90 shall come into operation on the day on which this Act receives the Royal Assent. (2) Paragraph 7(b), section 11, sub-sections 29(1) and 52(1) and sections 62, 65, 66, 71 and 72 shall be deemed to have come into operation on 29 June 1974. (3) Paragraphs 3(b) and (f) shall be deemed to have come into operation on 1 April 1975. (4) Paragraph 3(a) shall be deemed to have come into operation on 1 July 1975. (5) Section 8, paragraph 10(b) and section 48 shall be deemed to have come into operation on 5 February 1976. (6) Paragraph 9(c) and sections 12 and 46 shall be deemed to have come into operation on 13 February 1976. (7) The remaining provisions of this Act shall come into operation on 1 July 1976. Interpretation. 3. Section 4 of the Principal Act is amended— (a) by omitting from the definition of "approved authority" in sub-section (1) the words "the Canberra Hospital Management Board" and substituting the words "the Capital Territory Health Commission"; (b) by inserting in the definition of "approved authority" in sub-section (1), after the words "Australian National University", the words ", Aboriginal Hostels Limited"; (c) by inserting in sub-section (1), after the definition of "The Board", the following definition:— "'The Commissioner for Superannuation' means the Commissioner for Superannuation under the Superannuation Act 1976;"; (d) by inserting in sub-section (1), after the definition of "The maximum age for retirement", the following definition:— "'The new Superannuation Fund' means the Superannuation Fund established by the Superannuation Act 1976;"; (e) by adding at the end of sub-section (1) the following definition:— "'The Superannuation Fund Investment Trust' means the Superannuation Fund Investment Trust established by the Superannuation Act 1976"; and (f) by adding at the end thereof the following sub-section:— "(9) For the purposes of sub-section (6) in its application in relation to Aboriginal Hostels Limited, that body shall be deemed to be constituted under an Act administered by the Minister for Aboriginal Affairs. Superannuation provision for certain persons by way of life assurance. 4. Section 7 of the Principal Act is amended by inserting after sub-section (1) the following sub-section:— "(1a) An arrangement shall not be made under sub-section (1) of this section on or after 1 July 1976. Repeal of Part II. 5. (1) Part II of the Principal Act is repealed. (2) Notwithstanding the repeal effected by sub-section (1), section 15 of the Principal Act continues to apply to and in relation to the accounts relating to the Superannuation Fund to the extent that those accounts had not, before the commencement of this section, been audited by the Auditor-General. Contributions not payable on or after 1 July 1976. 6. After section 19 of the Principal Act the following section is inserted: — "19a. Contributions shall not be made under this Act on or after 1 July 1976 except— (a) contributions the obligation for the payment of which came into existence before that date; or (b) contributions payable by virtue of an election made under sub-section (3) of section 19 of this Act, whether made before or after that date.". Units of pension. 7. Section 20 of the Principal Act is amended— (a) by adding at the end of sub-section (6) the words but a person is not entitled to make an election under this sub-section after 30 June 1976"; and (b) by inserting after sub-paragraph (i) of paragraph (b) of sub-section (10) the following sub-paragraphs:— "(ia) in the case of an employee who is a contributor to the Fund in accordance with Part VIa and was, immediately before he became an employee, a member of a superannuation scheme within the meaning of that Part—the period during which he was a member of that scheme; "(ib) in the case of an employee who is contributing to the Fund in accordance with Part VIIa and was, immediately before he became an employee, a contributor to a State Fund within the meaning of that Part—the period during which he was a contributor to that fund;". 8. After section 20 of the Principal Act the following sections are inserted:— Obligation to make additional contributions after 4 February 1976. "20aa. (1) Subject to sub-section (2) of this section, a contributor is not eligible, and shall not be required, to contribute for an additional unit of pension by reason of— (a) an increase in his salary that takes effect after 4 February 1976; or (b) an increase in the prescribed amount that takes effect after that date. "(2) Where— (a) a contributor ceases to be an employee after 4 February 1976 and before 1 July 1976, otherwise than by reason of death, and— (i) pension is payable to him; (ii) he makes an election under section 119u of this Act; or (iii) he is entitled to benefit under section 50 of this Act; or (b) a contributor dies after 4 February 1976 and before 1 July 1976 and pension is payable in respect of him, sub-section (1) of this section does not apply, and shall be deemed not to have applied, to or in relation to him. "(3) For the purposes of sub-section (1) of this section, an increase in the salary of an employee shall be deemed to take effect as from the date upon which his salary is increased, or as from the date as from which his salary is increased, whichever is the later. Elections consequential upon operation of section 20aa. "20ab. (1) In this section— 'election to which this section applies' means an election under sub-section (1) or (2) of section 20a, under sub-section (1) of section 22a, under sub-section (1) or (2) of section 25, or under sub-section (1) of section 31, of this Act; 'person in respect of whom this section applies' means a person who has ceased to be an employee and to whom sub-section (1) of section 20aa would apply but for the operation of sub-section (2) of that section. "(2) A person in respect of whom this section applies is not disqualified from making an election to which this section applies by reason that he has ceased to be an employee if the election is made within a period of 3 months after he ceased to be an employee, or within such further period as the Board (or, on and after 1 July 1976, the Commissioner for Superannuation), in special circumstances, allows and, if he makes such an election within that period, this Act has effect, and shall be deemed to have had effect, as if the election had been made before he ceased to be an employee. "(3) Where a person in respect of whom this section applies— (a) ceases to be an employee by reason of his death; or (b) dies after he has ceased to be an employee but before the expiration of the period referred to in sub-section (2) of this section, the person (if any) who, by virtue of sub-section (4) of this section, is eligible to make an election under this sub-section may, within a period of 3 months after the death of the deceased person or within such further period as the Board (or, on and after 1 July 1976, the Commissioner for Superannuation), in special circumstances, allows, make any election to which this section applies that could have been made by the deceased person but which was not made by him and, if the person so eligible makes such an election, this Act has effect, and shall be deemed to have had effect, as if the election had been made by the deceased person before he ceased to be an employee. "(4) For the purposes of sub-section (3) of this section, the person who is eligible to make an election under that sub-section is— (a) if the deceased person left a widow or widower—the widow or widower; or (b) in any other case—such person (if any) as the Board (or, on and after 1 July 1976, the Commissioner for Superannuation) determines. "(5) Where an election is made under sub-section (1) of section 22a of this Act by virtue of sub-section (2) or (3) of this section by or in respect of a person in respect of whom this section applies, the election shall specify the date as from which the election is to have effect, being a date not earlier than 5 February 1976 and not later than the date on which the person ceased to be an employee, and, for the purposes of sub-section (2) of section 22a of this Act, the date so specified shall be deemed to be the date of the election. Rights of employees over 40 years of age. 9. Section 20a of the Principal Act is amended— (a) by adding at the end of sub-section (1) the words ", but, subject to section 20ab of this Act, a person is not entitled to make an election under this sub-section after 30 June 1976". (b) by adding at the end of sub-section (2) the words ", but, subject to section 20ab of this Act, a person is not entitled to make an election under this sub-section after 30 June 1976"; and (c) by adding at the end of sub-section (3) the words ", but a person is not entitled to make an election under this sub-section after 12 February 1976". Election to take up rejected units as noncontributory units. 10. Section 22a of the Principal Act is amended— (a) by adding at the end of sub-section (1) the words ", but, subject to section 20ab of this Act, a person is not entitled to make an election under this sub-section after 30 June 1976"; and (b) by adding at the end thereof the following sub-section:— "(3) Where an election is made by an employee under sub-section (1) of this section after 4 February 1976 and before 1 July 1976, not being an election made by virtue of section 20ab of this Act, his salary as at the date of the election shall, for the purposes of sub-section (2) of this section, be deemed to be the salary that was his salary as at 4 February 1976.". Election ineffective if number of contributory units is, or falls below, number of initial units. 11. Section 22d of the Principal Act is amended by omitting sub-section (4) and substituting the following sub-section:— "(4) A reference in the preceding sub-sections of this section to the initial unit entitlement of an employee or pensioner— (a) shall, subject to paragraph (b) of this sub-section, be read as a reference to the full unit entitlement of the employee or pensioner as at the time when he became a contributor to the Fund, or, if he became a contributor to the Fund after having previously ceased to be a contributor to the Fund, when he last became a contributor to the Fund; and (b) shall, in relation to an employee who is contributing to the Fund in accordance with Part VIa or VIIa or a pensioner who was, immediately before becoming a pensioner, so contributing to the Fund, be read as a reference to the number of units of pension for which, but for Parts VIa and Xa or Parts VIIa and Xa, as the case may be, he would have been liable to contribute to the Fund by virtue of section 20 of this Act at the time when he became an employee or, if he became an employee after having previously ceased to be an employee, when he last became an employee.". Election to contribute for full pension at 60 years of age. 12. Section 24 of the Principal Act is amended by inserting after sub-section (1) the following sub-sections:— "(2) Subject to sub-section (2a), a person is not entitled to make an election under this section after 12 February 1976. "(2a) Where, on or after 13 February 1976 but before 30 April 1976, a person who is a contributor makes an election under this section and the election arises out of or is otherwise related to a communication made to the Board by the person before 13 February 1976, the Board (or, on or after 1 July 1976, the Commissioner for Superannuation) may direct in writing that the election shall be treated, for the purposes of sub-section (2) of this section, as having been made before 13 February 1976, and the direction has effect accordingly.". Election to contribute for additional units at 65 years of age. 13. Section 25 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(5) A person is not entitled to make an election under this section after 30 June 1976". Contributions for reserve units of pension. 14. Section 30 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(4) A person is not entitled to make an election under this section after 30 June 1976, and a person shall not make contributions to the Fund for a reserve unit of pension on or after 1 July 1976 except contributions the obligation for the payment of which came into existence before 1 July 1976". Transfer of contributions to Superannuation Fund. 15. Section 31 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(5) A person is not entitled to make an election under this section after 30 June 1976". Discontinuance of contributions for reserve units. 16. Section 32 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(5) A person is not entitled to make an election under this section after 30 June 1976". Payments out of Consolidated Revenue Fund. 17. Section 33 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(8) The preceding provisions of this section do not have effect on and after 1 July 1976 and any instalment of pension, or any other benefit, that has become payable, but has not been paid, before 1 July 1976, or becomes payable on or after 1 July 1976, shall be paid out of the Consolidated Revenue Fund, which is appropriated accordingly. Deferment of contributions of contributors under Defence Force Retirement and Death Benefits Act. 18. Section 35a of the Principal Act is amended by adding at the end thereof the words "or, if he so ceases to be liable or so ceases to be an employee on or after 1 July 1976, the amount of the deferred contributions in respect of which he has become liable to contribute before that date shall be paid to the Commissioner for Superannuation and shall be paid by the Commissioner into the new Superannuation Fund.". Age of compulsory retirement. 19. Section 37 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) This section does not apply to a contributor who retires on or after 1 July 1976". Breakdown retirement. 20. Section 38 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(3) This section does not apply to a contributor who is retired on or after 1 July 1976". Compulsory termination of service of certain contributors for whom no retiring age is fixed by law. 21. Section 41 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(4) On and after 1 July 1976, the reference in sub-section (2) of this section to the Board shall be read as including a reference to the Commissioner for Superannuation" Amount of pension on retirement in respect of units other than noncontributory units. 22. Section 43 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) This section does not apply to a contributor who retires on or after 1 July 1976". Additional pension in respect of noncontributory units. 23. Section 43a of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) This section does not apply to a contributor who retires on or after 1 July 1976". Retirement through invalidity—amount of pension. 24. Section 45 of the Principal Act is amended by adding at the end thereof the following sub-section: — "(4) This section does not apply to a contributor who is retired on or after 1 July 1976". Pension to spouse and children on death of contributor 25. Section 46 of the Principal Act is amended— (a) by omitting from sub-section (1) the words "until she or he dies or remarries"; and (b) by adding at the end of the section the following sub-section: — "(7) This section does not apply in respect of a contributor who, on or after 1 July 1976, dies before retirement". Pension to spouse and children on death of pensioner 26. Section 47 of the Principal Act is amended by omitting from sub-section (1) the words "until she or he dies or remarries". Pension to orphans on death of contributor or pensioner 27. Section 48 of the Principal Act is amended by adding at the end thereof the following sub-section: — "(5) This section does not apply in respect of a contributor who dies on or after 1 July 1976". Restoration of widow's or widower's pension previously cancelled on remarriage. 28. (1) After section 48 of the Principal Act the following sections are inserted: — "48aa. (1) Where— (a) a widow's or widower's entitlement to pension under sub-section (1) of section 46, or sub-section (1) of section 47, of this Act has ceased, before 1 July 1976, upon her or his remarriage; and (b) the widow or widower makes application to the Commissioner for Superannuation for the restoration of the pension and the Commissioner is satisfied that the widow or widower is in necessitous circumstances or that the restoration of the pension is otherwise warranted, the Commissioner may direct that the widow's or widower's entitlement to pension be restored with effect from such date as the Commissioner specifies and, upon such a direction being given, the widow or widower again becomes entitled to pension from that date at a rate determined by the Commissioner (being a rate that does not exceed the rate at which the pension would have been payable if the entitlement had not ceased). "(2) The date specified by the Commissioner under sub-section (1) of this section in relation to the restoring of a widow's or widower's entitlement to pension shall not, unless the Commissioner is satisfied that special circumstances exist that justify an earlier date being so specified, be a date earlier than the date of the direction, and shall not, in any event, be a date earlier than 1 July 1976. "(3) A direction by the Commissioner under this section shall be in writing. Special grants of pension. "48ab. (1) If, at any time after the commencement of the Superannuation Act 1976, a pension is not payable under section 47 or 48 of this Act to or in respect of a person to or in respect of whom pension would be payable at that time under Part VI of the Superannuation Act 1976 if a deceased pensioner (including a pensioner who died before the commencement of the Superannuation Act 1976) would have been in receipt of a pension at the time of his death under section 55 or 66 of that Act if that Act had come into force before he ceased to be an employee, the Commissioner may grant, from such date as the Commissioner specifies, a pension to or in respect of the person under section 47 or 48 of this Act at such rate and on such conditions as the Commissioner determines. "(2) Where, at any time before the commencement of the Superannuation Act 1976, pension has been payable under sub-section (1) of section 47 of this Act to the widow or widower of a deceased pensioner, the Commissioner for Superannuation shall not, by virtue of sub-section (1) of this section, grant a pension under sub-section (1) of section 47 of this Act to any other person. "(3) The Commissioner shall not grant a pension under sub-section (1) of this section to a person who, if the Superannuation Act 1976 had come into force before the deceased pensioner referred to in sub-section (1) had died, would, at the time of the deceased pensioner's death, have been a spouse of the deceased pensioner for the purposes of that Act, unless the Commissioner is satisfied that the person is in necessitous circumstances or that the granting of the pension is otherwise warranted. "(4) The grant by the Commissioner, by virtue of sub-section (1) of this section, of a pension to or in respect of a person does not affect the entitlement of any other person to a pension under this Act that is payable otherwise than by virtue of grant of pension by virtue of sub-section (1) of this section, or the rate of such a pension. "(5) In sub-section (1), 'deceased pensioner' means a person who at the time of his death was in receipt of a pension under section 43 or 45 of this Act or would have been in receipt of such a pension but for its suspension under section 64a or 65 of this Act. Minimum pension rates payable in respect of children. "48ac. (1) In this section— 'child's pension' means pension payable in respect of an eligible child under sub-section (3) or (4) of section 46, sub-section (3) or (4) of section 47, or sub-section (1) of section 48, of this Act; 'relevant percentage', in relation to a child's pension payable in respect of an eligible child at any time means— (a) if the pension is payable under sub-section (3) of section 46, or sub-section (3) of section 47, of this Act— (i) in a case where the eligible child is, at that time, the only eligible child, or is one of 2 eligible children, of the deceased contributor or pensioner—11 per centum; or (ii) in a case where the eligible child is, at that time, one of 3 or more eligible children of the deceased contributor or pensioner—33 per centum divided by the number of those eligible children; or (b) if the pension is payable under sub-section (4) of section 46, sub-section (4) of section 47 or sub-section (1) of section 48, of this Act— (i) in a case where the eligible child is, at that time, the only eligible child of the deceased contributor or pensioner—45 per centum; (ii) in a case where the eligible child is, at that time, one of 2 eligible children of the deceased contributor or pensioner—40 per centum; (iii) in a case where the eligible child is, at that time, one of 3 eligible children of the deceased contributor or pensioner—30 per centum; or (iv) in a case where the eligible child is, at that time, one of 4 or more eligible children of the deceased contributor or pensioner—100 per centum divided by the number of those eligible children. "(2) Where, but for this section, the rate of a child's pension would at any time be less than the rate ascertained in accordance with sub-section (3) of this section, pension shall be payable at that time at the rate so ascertained. "(3) The rate applicable to a child's pension payable in respect of an eligible child at any time is— (a) where the pension is payable under sub-section (3) or (4) of section 46 of this Act—the relevant percentage of the rate of pension that would have been payable under section 45 of this Act to the deceased contributor at that time if he had not died but had, on the day of his death, retired on the ground of invalidity; (b) where the pension is payable under sub-section (3) or (4) of section 47 of this Act—the relevant percentage of the rate of pension that would have been payable under section 43, 43a, 44 or 45 of this Act to the deceased pensioner at that time if he had not died; or (c) where the pension is payable under sub-section (1) of section 48 of this Act—the relevant percentage of— (i) in a case where the eligible child is the child of a deceased contributor—the rate of pension that would have been payable under section 45 of this Act to the deceased contributor at that time if he had not died but had, on the day of his death, retired on the ground of invalidity; or (ii) in a case where the eligible child is the child of a deceased pensioner—the rate of pension that would have been payable under section 43, 43a, 44 or 45 of this Act to the deceased pensioner at that time if he had not died. Application of section 47 on and after 1 July 1976. "48ad. In the application of section 47 of this Act in respect of a pensioner who dies on or after 1 July 1976 leaving a widow or widower— (a) the reference in sub-section (1) to the fraction of five-eighths shall be read as a reference to 67 per centum; and (b) the reference in that sub-section to the fraction of one-half shall be read as a reference to 54 per centum.". (2) Where, on the pension pay-day occurring on 1 July 1976, the rate of a child's pension is, by virtue of sub-section 48ac(2) of the Principal Act as amended by this Act, higher than the rate at which it would otherwise have been payable on that day, the instalment of pension payable on that day shall be such amount as would have been payable if the higher rate had been applicable on that day and on each of the preceding 13 days. Pension not payable in certain circumstances. 29. (1) Section 48b of the Principal Act is amended by adding at the end thereof the following sub-section: — "(2) Where a contributor is a prescribed employee within the meaning of Part VIIa, sub-section (1) of this section applies to and in relation to the contributor as if— (a) the reference in paragraph (a) of sub-section (1) of this section to the period of 3 years after the obligation of a contributor to contribute to the Fund under Part III came into existence were a reference to a period of 3 years after the employee's obligation to contribute to a State Fund within the meaning of Part VIIa came or last came into existence; and (b) the references in paragraphs (b) and (c) of sub-section (1) of this section to the medical examination referred to in sub-section (1) or (2) of section 5 were references to the medical examination by virtue of the results of which the employee became or last became a contributor to the State Fund. ". (2) Section 48b of the Principal Act is further amended by adding at the end thereof the following sub-sections: — "(3) This section does not apply in respect of a contributor who dies or is retired on or after 1 July 1976. "(4) On and after 1 July 1976, the reference in sub-section (1) of this section to the Board shall be read as including a reference to the Commissioner for Superannuation". Refund of contributions on death of contributor without dependants. 30. Section 49 of the Principal Act is amended by adding at the end thereof the following sub-sections:— "(2) This section does not apply in respect of a contributor who, on or after 1 July 1976, dies before retirement. "(3) On and after 1 July 1976, the reference in sub-section (1) of this section to the Board shall be read as including a reference to the Commissioner for Superannuation". Choice of benefits for contributor who is retrenched 31. Section 50 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(4) This section does not apply in respect of the retrenchment of a contributor on or after 1 July 1976". Refund of contributions in event of resignation, dismissal or discharge. 32. Section 51 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) This section does not apply to a contributor who resigns, or is dismissed or discharged, on or after 1 July 1976". Rights of contributors who resign to contest elections 33. Section 52 of the Principal Act is amended— (a) by inserting in sub-section (1), after the word "employment", the words "before 1 July 1976"; (b) by inserting in sub-sections (4), (5), (6), (8) and (9), after the word "Board" (wherever occurring), the words "(or, on and after 1 July 1976, the Commissioner for Superannuation)"; (c) by omitting from sub-sections (8) and (9) the word "Fund" (wherever occurring) and substituting the words "Commissioner for Superannuation"; and (d) by omitting sub-section (10) and substituting the following sub-section: — "(10) The Commissioner for Superannuation shall pay amounts paid to him under sub-sections (8) and (9) of this section into the new Superannuation Fund, and, in the case of an amount or amounts paid to him under sub-section (9) in respect of payments of pension received by a person, that amount, or the sum of those amounts, so paid to him, and paid by him into the new Superannuation Fund, shall, to the extent that it exceeds the difference between the sum of those payments of pension and the sum of the amounts paid out of the Consolidated Revenue Fund in respect of those payments of pension, be paid from the new Superannuation Fund into the Consolidated Revenue Fund.". Desertion by pensioner of spouse or child 34. Section 54 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(4) On and after 1 July 1976, each reference in this section to the Board shall be read as including a reference to the Commissioner for Superannuation". Repeal of section 56. 35. Section 56 of the Principal Act is repealed. Payments to children 36. Section 58 of the Principal Act is amended— (a) by omitting from sub-section (2) the words "out of the Fund" and substituting the words "under this Act"; and (b) by omitting from sub-section (2) the word "Board" (wherever occurring) and substituting the words "Commissioner for Superannuation". Minimum pension 37. Section 61 of the Principal Act is amended by omitting sub-section (3). Payment to person other than the pensioner 38. Section 62 of the Principal Act is amended by omitting the word "Board" (wherever occurring) and substituting the words "Commissioner for Superannuation''. Repeal of Division 3 of Part IV 39. (1) Division 3 of Part IV of the Principal Act is repealed. (2) Where any suspension of a person's pension was in force immediately before 1 July 1976 under section 64a of the Principal Act by virtue of the person's having failed to comply with a notice requiring him to submit himself for medical examination or by virtue of the person's having failed to comply with a notice requiring him to furnish information to the Superannuation Board, section 74 of the Superannuation Act 1976, with such modifications (if any) as are prescribed under sub-section 180 (2) of that Act, applies in relation to the suspension as if the notice had been given, and the pension suspended, by the Commissioner for Superannuation under section 74 of that Act. (3) Where any suspension of a pension was in force immediately before 1 July 1976 under section 65 of the Principal Act, then, notwithstanding the repeal effected by sub-section (1) of this section, the provisions of sub-sections (7), (8) and (9) of section 65 of the Principal Act continue to have effect in relation to the suspended pension, but, in the application of those provisions on and after 1 July 1976 in relation to the suspended pension, any reference in those provisions to the Board shall be read as including a reference to the Commissioner for Superannuation. (4) Where a pension of a kind referred to in section 64a or section 65 of the Principal Act is suspended under section 74 of the Superannuation Act 1976 and the pensioner dies before the pension again becomes payable, he shall, for the purposes of the Principal Act as amended by this Act, be deemed to have been in receipt of the pension at the time of his death at the rate at which it would have been payable to him if it had not been suspended. (5) Where a pension of a kind referred to in section 64a or section 65 of the Principal Act is suspended under section 74 of the Superannuation Act 1976 and that pension again becomes payable to the pensioner, the pensioner shall, for the purposes of the application of Parts Xb and XI of the Principal Act as amended by this Act, be deemed to have been in receipt of the pension during the period of the suspension at the rate at which it would have been payable to him if it had not been suspended. Certain pensioners who become employees not to contribute except in respect of difference. 40. Section 67 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(5) Notwithstanding anything in the preceding provisions of this section, an employee is not entitled to make an election under sub-section (2) of this section after 31 July 1976, and any election made after the pay-day last preceding 1 July 1976 and on or before 31 July 1976 shall be deemed to have been made on that pay-day. ". Election to come under Act for difference. 41. Section 69 of the Principal Act is amended by adding at the end thereof the following sub-section: — "(5) Notwithstanding anything in the preceding provisions of this section, an employee is not entitled to make an election under sub-section (1) of this section after 31 July 1976, and any election made after the pay-day last preceding 1 July 1976 and on or before 31 July 1976 shall be deemed to have been made on that pay-day.". Exchange of pension rights for equivalent rights under this Act. 42. Section 71 of the Principal Act is amended by omitting sub-section (3) and substituting the following sub-section:— "(3) Notwithstanding anything in the preceding provisions of this section, an employee is not entitled to make an application under sub-section (1c) of this section after 31 July 1976 and— (a) any application made under that sub-section on or after 1 July 1976 and on or before 31 July 1976 shall be made to the Commissioner for Superannuation and this section shall have effect in relation to the application as if references in this section to the Board were references to the Commissioner for Superannuation; and (b) any application made under that sub-section after the pay-day last preceding 1 July 1976 and on or before 31 July 1976 shall be deemed to have been made on that pay-day.". Employee having right to refund or gratuity under other law may exchange his rights for equivalent rights under this Act. 43. Section 72 of the Principal Act is amended by omitting sub-section (2) and substituting the following sub-section:— "(2) Notwithstanding anything in the preceding provisions of this section, an employee is not entitled to make an application under sub-section (1c) of this section after 31 July 1976 and— (a) any application made under that sub-section on or after 1 July 1976 and on or before 31 July 1976 shall be made to the Commissioner for Superannuation and this section shall have effect in relation to the application as if references in this section to the Board were references to the Commissioner for Superannuation; and (b) any application made under that sub-section after the pay-day last preceding 1 July 1976 and on or before 31 July 1976 shall be deemed to have been made on that pay-day.". Transfer of policies to Board. 44. Section 74 of the Principal Act is amended— (a) by omitting from sub-section (4) the words "or such lower rate as the Board" and substituting the words "or such rate as the Superannuation Fund Investment Trust"; and (b) by adding at the end thereof the following sub-sections:— "(5) Sub-section (1) of this section ceases to have effect on and from 1 July 1976. "(6) Upon the commencement of the Superannuation Act 1976, a policy that has been transferred to the Board and has not been retransferred by the Board shall, by force of this sub-section, be transferred to the Superannuation Fund Investment Trust and, after the commencement of that Act, any reference in sub-sections (2) and (3) of this section to the Board shall, in the application of those sub-sections to the policy, be read as a reference to the Superannuation Fund Investment Trust". Repeal of sections 75 to 78 (inclusive). 45. Sections 75, 76, 77 and 78 of the Principal Act are repealed. Contributors to Provident Account 46. Section 79 of the Principal Act is amended by adding at the end thereof the following sub-sections:— "(4) The Board shall not exercise its powers under sub-section (2) of this section in relation to a person who is a contributor to the Provident Account except in pursuance of an application made by the person before 13 February 1976. "(5) Where, on or after 13 February 1976 but before 30 April 1976, a person who is a contributor to the Provident Account makes application to the Board for the Board to exercise its powers in relation to him under sub-section (2) of this section and the application arose out of or is otherwise related to a communication made to the Board by the person before 13 February 1976, the Board may, for the purposes of sub-section (4) of this section, treat the application as having been made before that last-mentioned date. "(6) Where an application made to the Board under sub-section (2) of this section has not been determined by the Board before 1 July 1976, the Commissioner for Superannuation may exercise the powers of the Board under this section in relation to the application. "(7) Where, after the pay-day last preceding 1 July 1976, the Board or the Commissioner for Superannuation decides, under sub-section (2) of this section, to allow a contributor to the Provident Account to contribute to the Fund under Part III of this Act, the decision shall be deemed to have been made on that pay-day.". 47. After section 79 of the Principal Act the following section is inserted:— Contributions not payable on or after 1 July 1976 "79a. Contributions shall not be made under this Part on or after 1 July 1976 except contributions the obligation for the payment of which came into existence before 1 July 1976". 48. After section 80 of the Principal Act the following section is inserted: — Obligation to make contributions where salary increased after 4 February 1976 "80a. (1) Where the salary of a contributor to the Provident Account is increased and the increased salary is payable from a date after 4 February 1976, then, subject to sub-section (2), the increase shall be disregarded for the purposes of sub-section (3) of section 80 of this Act. "(2) Where— (a) a contributor to the Provident Account ceases to be an employee after 4 February 1976 and before 1 July 1976 otherwise than by reason of death and— . (i) benefit is payable to him under section 82 of this Act; or (ii) he makes an election under section 119u of this Act; or (b) a contributor to the Provident Account dies after 4 February 1976 and before 1 July 1976 and benefit is payable in respect of him under section 83 of this Act, sub-section (1) does not apply, and shall be deemed not to have applied, to or in relation to him''. Election to contribute to Provident Account. 49. Section 81 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(3) A person is not entitled to make an election under this section after the pay-day last preceding 1 July 1976". Payments on retirement. 50. Section 82 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(6) This section does not apply to a contributor to the Provident Account who retires or is retired, or whose services are terminated, on or after 1 July 1976". Payment on death of contributor with dependants. 51. Section 83 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(4) This section does not apply in respect of a contributor to the Provident Account who, on or after 1 July 1976, dies before retirement". Payments on death or invalidity in certain circumstances. 52. (1) Section 83a of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) Where a contributor to the Provident Account is a prescribed employee within the meaning of Division 3 of Part VIIa, sub-section (1) of this section applies to and in relation to the contributor as if— (a) the reference in paragraph (a) of that sub-section to the period of 3 years after the contributor became such a contributor were a reference to the period of 3 years after the contributor's obligation to contribute to a State Fund within the meaning of Part VIIa came or last came into existence; and (b) the references in paragraphs (b) and (c) of that sub-section to the medical examination referred to in sub-section (1) or (2) of section 5 of this Act were references to the medical examination by virtue of the results of which the contributor became or last became a contributor to the State Fund". (2) Section 83a of the Principal Act is further amended by adding at the end thereof the following sub-sections:— "(3) This section does not apply in respect of a contributor to the Provident Account who dies or whose services are terminated on or after 1 July 1976. "(4) On and after 1 July 1976, the reference in sub-section (1) of this section to the Board shall be read as including a reference to the Commissioner for Superannuation''. Payment on death of contributor to Provident Account without dependants. 53. Section 84 of the Principal Act is amended by adding at the end thereof the following sub-sections:— "(2) This section does not apply in respect of a contributor to the Provident Account who dies on or after 1 July 1976. "(3) On and after 1 July 1976, the reference in sub-section (1) of this section to the Board shall be read as including a reference to the Commissioner for Superannuation". Payments on resignation or dismissal. 54. Section 85 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) This section does not apply to a contributor to the Provident Account who resigns, or is discharged or dismissed, on or after 1 July 1976". Compulsory termination of service of certain contributors to Provident Account for whom no retiring age is fixed by law. 55. Section 87b of the Principal Act is amended by adding at the end thereof the following sub-section:— "(4) On and after 1 July 1976, the reference in sub-section (2) of this section to the Board shall be read as including a reference to the Commissioner for Superannuation". Rights of contributors to Provident Account who resign to contest elections. 56. Section 88 of the Principal Act is amended— (a) by inserting in sub-section (1), after the word "service", the words "before 1 July 1976"; (b) by inserting in sub-sections (4), (5), (6) and (8), after the word "Board" (wherever occurring), the words "(or, on and after 1 July 1976, the Commissioner for Superannuation)"; (c) by omitting from sub-section (8) the words "Provident Account" (first occurring) and substituting the words "Commissioner for Superannuation"; and (d) by omitting sub-section (10) and substituting the following sub-section: — "(10) The Commissioner for Superannuation shall pay amounts paid to him under sub-section (8) of this section into the new Superannuation Fund, and an amount, or the sum of the amounts, paid to the Commissioner for Superannuation under that sub-section in respect of an amount paid to a person under section 82 of this Act and paid by the Commissioner into the new Superannuation Fund shall, to the extent that it exceeds the difference between the amount so paid to the person and the amount paid out of the Consolidated Revenue Fund in respect of the amount so paid to the person, be paid from the new Superannuation Fund into the Consolidated Revenue Fund.". Payment to other person. 57. Section 89 of the Principal Act is amended by omitting the word "Board" (wherever occurring) and substituting the words "Commissioner for Superannuation". Rate of interest. 58. Section 90 of the Principal Act is amended by adding at the end thereof the following sub-section: — "(5) Sub-section (4) of this section does not apply to the making of a regulation prescribing the rate of interest in respect of the financial year ending on 30 June 1976, but the Governor-General shall not make such a regulation unless the Superannuation Fund Investment Trust has furnished a report to the Treasurer specifying— (a) the average rate of interest that is determined by the Trust to have been earned by the Fund in that financial year; and (b) the rate of interest that, in the opinion of the Trust, should, having regard to the average rate of interest and to such other matters as the Trust thinks relevant, be prescribed in respect of that financial year.". Payments out of Consolidated Revenue Fund to Provident Account. 59. Section 92 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(3) This section does not have effect on and after 1 July 1976". Certain amounts to be paid out of Consolidated Revenue Fund to Superannuation Fund. 60. Section 98 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) This section does not have effect on and after 1 July 1976". Increased contributions out of Consolidated Revenue Fund. 61. Section 99 of the Principal Act is amended by adding at the end thereof the following sub-section:— "(2) This section does not have effect on and after 1 July 1976". 62. After Part VI of the Principal Act the following Part is inserted:— "PART VIa—SPECIAL PROVISIONS IN RELATION TO CERTAIN EMPLOYEES FORMERLY IN PRIVATE EMPLOYMENT "Division 1—Preliminary Interpretation. "100a. (1) In this Part, unless the contrary intention appears— 'member', in relation to a superannuation scheme applying in relation to any employment, means a person in respect of whom benefits are payable under the superannuation scheme that applies to him, by reason of his being employed in that employment, whether or not he is required to make contributions under the scheme; 'prescribed amount', in relation to a member, means the amount paid to the member from the superannuation scheme applying to his employment upon his ceasing to be employed in that employment, other than any amount so paid— (a) that was paid by him to the superannuation scheme as contributions to the scheme by way of voluntary savings; or (b) that is of a kind determined by the Board to be excluded from the prescribed amount; 'relevant date', in relation to a relevant employee, means the date on which he becomes employed by the Commonwealth or by an approved authority; 'relevant employee' means a person who— (a) becomes employed by the Commonwealth or by an approved authority before 1 July 1976 in circumstances specified by the Treasurer by determination in writing made for the purposes of this definition, whether before or after the person becomes so employed; and (b) was, immediately before the relevant date, a member of a superannuation scheme applying in relation to his employment; 'rules', in relation to a superannuation scheme, means the rules governing the operation of the scheme, whether contained in a law or in a trust deed or other instrument; 'superannuation scheme' means a superannuation or retirement scheme applying to persons by reason of their being employed in certain employment, other than a scheme established under the law of a State to provide superannuation or other similar benefits for persons employed in the Public Service, the Railway Service or any other service of that State. "(2) For the purposes of this Part, a benefit by way of a lump sum shall be deemed to have become payable in respect of a person under a superannuation scheme upon the termination of the person's employment if, upon the termination of that employment, the person has the legal title to a life policy, or is entitled to have the legal title to a life policy assigned to him, being a policy the premiums for which were, while he was employed in that employment, paid in whole or in part by his employer, and, where such a benefit is to be deemed to have become payable, the surrender value of the policy as at the date of the termination of his employment shall be taken to be the amount of that benefit by way of a lump sum. "(3) In determining, for the purposes of this Part, the number of units of pension (including, where necessary, a fraction of a unit) that will entitle a relevant employee to benefits equivalent to those related to the benefits to which he was entitled under a superannuation scheme, the Board shall disregard— (a) the provisions of Part Xb; (b) the provisions of this Act that authorize the payment, in any circumstances, of benefits to or in relation to the spouse or a dependant of a contributor to the Fund; and (c) the rules of the superannuation scheme that authorize the payment, in any circumstances, of benefits to or in relation to the spouse or a dependant of a member of the scheme. "(4) In the application of a Part of this Act other than this Part to or in relation to a relevant employee— (a) a reference in such a Part to an employee as defined by section 4 of this Act shall be read as including a reference to a relevant employee; and (a) a relevant employee shall be deemed to have become an employee for the purposes of this Act on the relevant date. "Division 2—The Superannuation Fund Definition. "100b. In this Division, unless the contrary intention appears, 'prescribed employee' means a relevant employee who has made an election, and a payment to the Board, in accordance with sub-section (2) of section 100c of this Act. Contributions for pension by relevant employee. "100c. (1) This Division applies to a relevant employee if the employee was, immediately before he became an employee for the purposes of this Act, a member of a superanuation scheme under which— (a) benefits by way of a pension or of a lump sum were payable to a member of the scheme upon the cessation of his employment by reason of his having attained a specified age, being a pension or lump sum the amount of which was related to the salary payable to him immediately before the cessation of his employment; (b) benefits by way of a pension or of a lump sum, being benefits that were related to the benefits referred to in paragraph (a) of this sub-section, were payable to a member of the scheme upon the cessation of his employment by reason of his invalidity; and (c) benefits by way of a pension or of a lump sum, being benefits related to the benefits referred to in paragraph (a) of this sub-section, were payable to the dependants of a member of the scheme upon the death of the member. "(2) A relevant employee to whom this section applies may elect, within 3 months after the relevant date or within such further period as the Board allows, to contribute to the Fund in accordance with this section, and may pay to the Board an amount equal to the prescribed amount within that period or within such further period as the Board allows, but any election made after the pay-day last preceding 1 July 1976 shall be deemed to have been made on that pay-day. "(3) Notwithstanding section 5 of this Act— (a) if the superannuation scheme of which a prescribed employee was a member immediately before the relevant date was a scheme under which members were required to make contributions in respect of the benefits to be provided under the scheme—the employee shall be liable to make, and, from and including the relevant date, shall be deemed to have been liable to make, contributions to the Fund for so many units of pension (including, where necessary, a fraction of a unit) as the Board determines will entitle him to benefits equivalent to those to which he would have been entitled if he had continued to contribute to that superannuation scheme at the rate at which he was contributing to that scheme immediately before the relevant date, and his contributions for those units of pension shall be at that rate; or (b) if the superannuation scheme of which a prescribed employee was a member immediately before the relevant date was a scheme under which members were not required to make contributions in respect of the benefits to be provided under the scheme—the employee shall be deemed to be a contributor to the Fund for so many units of pension (including, where necessary, a fraction of a unit) as the Board determines will entitle him to benefits equivalent to those to which he would have been entitled if he had continued to be a member of that superannuation scheme and had continued to be remunerated at the rate at which he was being remunerated immediately before the relevant date, and he is not required to make any contributions for those units of pension. "(4) Where the number of units of pension for which a prescribed employee is, upon becoming an employee for the purposes of this Act, liable to contribute to the Fund by virtue of section 20 of this Act exceeds the number of units of pension for which he is liable to contribute, or is to be deemed to be a contributor, to the Fund by virtue of sub-section (3) of this section that sub-section does not affect his liability to contribute for the excess (in this sub-section referred to as the additional units of pension), but, if he attained the age of 40 years before the relevant date, section 20a of this Act applies to and in relation to those additional units of pension as if they were units of pension for which he is required to contribute by reason of an increase in his salary since the attainment by him of the age of 40 years. "(5) Where, immediately before the relevant date, the benefits for which a prescribed employee was entitled to contribute to the superannuation scheme applicable to him exceeded the benefits for which he was contributing to that scheme— (a) sub-section (4) of this section applies in relation to him as if the reference to the number of units of pension for which he is liable to contribute or is to be deemed to be a contributor to the Fund by virtue of sub-section (3) of this section were a reference to the number of units of pension (including, where necessary, a fraction of a unit) determined by the Board to be the number of units that will entitle him to benefits equivalent to those first-mentioned benefits; and (b) subject to sub-section (6) of this section, he may, at any time while he is a contributor to the Fund, but not later than 12 February 1976, elect to contribute to the Fund for so many additional units of pension (including, where necessary, a fraction of a unit) as the Board determines to be the number of units that will entitle him to benefits equivalent to that excess. "(6) An election under paragraph (b) of sub-section (5) of this section does not have effect in relation to a prescribed employee unless, not later than 6 months after the date on which the election is made, he satisfies the Board that he is not suffering from any physical or mental defect (not being a defect that, in the opinion of the Board, is a result of the service of the employee as a member of the Forces as defined in sub-section (2) of section 147 of this Act) likely to render him incapable of performing his duties before he attains the maximum age for retirement. "(7) A prescribed employee to whom this section applies shall, for the purposes of this Act, be deemed to be a contributor— (a) in the case of an employee who was, immediately before the relevant date, a member of a superannuation scheme under the rules of which benefits were payable to him upon his retiring at the age of 60 years or at an earlier age—at rates based on a retiring age of 60 years; or (b) in any other case—at rates based on a retiring age of 65 years. "(8) Subject to sub-section (9) of this section, where at any time, the number of units of pension for which a prescribed employee is liable to contribute, or is to be deemed to be a contributor, to the Fund under sub-section (3) of this section exceeds the number of units of pension for which the employee would, apart from that sub-section, be required to contribute under section 20 of this Act, the employee is not entitled to contribute for any units, other than reserve units, in excess of the first- mentioned number of units. "(9) Notwithstanding sub-section (8) of this section, section 20b of this Act applies, subject to sub-section (10) of this section, to and in relation to a prescribed employee in respect of a reduction of his salary or of the prescribed amount referred to in section 20 of this Act. "(10) Nothing in this Act shall be taken to require or permit a reduction in the number of units of pension for which a prescribed employee is a contributor to a number that is less than the number of units of pension for which he is liable to contribute or for which he is to be deemed to be a contributor, under sub-section (3) of this section. "(11) For the purposes of this section, where a prescribed employee was contributing to a superannuation scheme amounts of a kind referred to in paragraph (a) or (b) of the definition of 'prescribed amount' in sub-section (1) of section 100a of this Act, the rate at which he was contributing to the scheme does not include the rate at which he was contributing those amounts. Payment of prescribed amount to Board. "100d. Upon the payment by a prescribed employee of an amount equal to the prescribed amount to the Board under sub-section (2) of section 100c of this Act— (a) if the superannuation scheme of which the employee was a member immediately before the relevant date was a scheme under which members were required to make contributions in respect of the benefits to be provided under the scheme— (i) an amount equal to so much of the prescribed amount as was based upon the contributions made by him to the superannuation scheme or on interest payable in respect of those contributions shall be paid by the Board to the Fund, or, on or after 1 July 1976, to the new Superannuation Fund, and, when so paid, shall be deemed, for the purposes of this Act, to be contributions made to the Fund by the prescribed employee; and (ii) an amount equal to so much (if any) of the prescribed amount as was not based upon contributions made by him to the superannuation scheme shall be paid by the Board to the Consolidated Revenue Fund; or (b) in any other case—the amount of the payment shall be paid by the Board to the Consolidated Revenue Fund. Refunds of contributions to prescribed employees. "100e. Where a prescribed employee ceases to be a contributor to the Fund and, by virtue of any provisions in this Act, there is payable to or in relation to him a refund of the contributions paid by him to the Fund— (a) there is payable out of the Fund to or in relation to that prescribed employee, in addition to that refund of contributions, an amount equal to the amount that was paid by the Board to the Consolidated Revenue Fund in accordance with subparagraph (ii) of paragraph (a) of section 100d of this Act or with paragraph (a) of that section, as the case requires; and (b) an amount equal to the amount payable out of the Fund in accordance with paragraph (a) of this section is payable to the Fund out of the Consolidated Revenue Fund. Preservation of other superannuation rights. "100f. In the application of Division 2 of Part Xa to and in relation to a prescribed employee, a reference in that Division to the number of units of pension for which he would, but for that Division, be required to contribute to the Fund shall be read as not including the number of units of pension for which he is contributing to the Fund by virtue of sub-section (3), or paragraph (b) of sub-section (5), of section 100c of this Act. Increased contributions by the Commonwealth. "100g. Where a pension becomes payable to or in relation to a prescribed employee, each payment that is required by section 33 of this Act to be made by the Commonwealth to the Fund in respect of that prescribed employee shall be increased by such amount (if any) as the Board determines to be necessary by reason of the prescribed employee— (a) having contributed to the Fund at rates less than those at which, but for this Part, he would have been required to contribute; or (b) being deemed to be a contributor to the Fund in respect of any units of pension by virtue of paragraph (b) of sub-section (3) of section 100c of this Act. Certain amounts to be paid by the Commonwealth to the Fund. Rights of certain relevant employees. "100h. Where, within 5 years after the relevant date, a prescribed employee is retired on the ground of invalidity or of physical or mental incapacity to perform his duties, or a prescribed employee dies and a pension is payable to or in relation to him, the pension shall be paid from the Fund and there is payable to the Fund out of the Consolidated Revenue Fund an amount equal to the amount by which the proportion of each payment of the pension equivalent to the contributions made by or in respect of the employee is less than the proportion of each payment of the pension that is payable otherwise than by the Commonwealth under section 33 of this Act. "100j. (1) This section applies to a relevant employee (other than a prescribed employee) who is, or would, but for this section, be, a contributor to the Fund. "(2) If at any time the number of units of pension for which a relevant employee to whom this section applies would, but for this section, be required by section 20 of this Act to contribute to the Fund does not exceed the number of units of pension (including, where necessary, a fraction of a unit) determined by the Board to be the number of units of pension that would entitle that employee to benefits equivalent to the benefits to which he would be entitled under the superannuation scheme applicable to him immediately before the relevant date if he had continued to be a member of that scheme, the employee shall not be required or permitted to contribute to the Fund at that time in respect of units of pension. "(3) If at any time the number of units of pension for which a relevant employee to whom this section applies would, but for this section, be required by section 20 of this Act to contribute to the Fund exceeds the number of units of pension determined by the Board for the purposes of sub-section (2) of this section, the employee shall not be required or permitted to contribute to the Fund at that time in respect of a number of units of pension greater than the excess. "(4) In the application of Division 2 of Part Xa to and in relation to a relevant employee to whom this section applies, a reference in that Division to the number of units of pension for which he would, but for that Division, be required to contribute to the Fund shall be read as a reference to the number of units of pension ascertained by subtracting from the number of units of pension for which he would, but for this section and for that Division, be required to contribute to the Fund, the number of units of pension determined by the Board for the purposes of sub-section (2) of this section. "Division 3—The Provident Account Definition. "100k. In this Division, 'prescribed employee' means a relevant employee who has made an election, and a payment to the Board, in accordance with section 100l of this Act. Contributions by certain relevant employees to Provident Account. "100l. (1) A relevant employee, other than a relevant employee to whom section 100b or 100j of this Act applies may elect, within 3 months after the relevant date or within such further period as the Board allows, to contribute to the Provident Account in accordance with this section, and may pay to the Board an amount equal to the prescribed amount within that period or within such further period as the Board allows, but any election made after the pay-day last preceding 1 July 1976 shall be deemed to have been made on that pay-day. "(2) Notwithstanding section 5 of this Act, a prescribed employee shall be liable to make, and, from and including the relevant date, shall be deemed to have been liable to make, contributions to the Provident Account in accordance with Part V. "(3) Upon the payment by a prescribed employee of an amount equal to the prescribed amount to the Board under sub-section (1) of this section— (a) if the superannuation scheme of which the employee was a member immediately before the relevant date was a scheme under which members were required to make contributions in respect of the benefits to be provided under the scheme— (i) an amount equal to so much of the prescribed amount as was based upon the contributions made by him to the superannuation scheme or on interest payable in respect of those contributions shall be paid by the Board to the Provident Account, or, on or after 1 J