Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to this Act, the amount of contribution to be paid by an employee is an amount ascertained in accordance with the tables of contributions set out in the Third Schedule reduced by an amount, if any, ascertained in accordance with the tables of reductions of contributions set out in the Sixth Schedule.
(2) In the case of a male employee whose obligation to contribute to the Fund comes into existence on or after 1 July 1962, the rate of contribution in respect of two of his initial units of pension is the rate appropriate to his age next birthday set out in Table XIV or Table XVII in the Third Schedule, as the case may be, increased by 5 cents in respect of each of those two units.
(3) The amount of contribution to be paid by an employee who has elected that section 26 shall not apply to him is:
(a) in respect of:
(i) units of pension in respect of which the obligation to contribute came into existence on or after 14 December 1959 and before 1 July 1962; or
(ii) reserve units of pension for which he commenced to contribute on or after 14 December 1959, and before 1 July 1962;
an amount ascertained in accordance with the rates of contribution specified in Table I in the Fourth Schedule reduced by an amount ascertained in accordance with the reductions in contributions specified in Table XVII in the Sixth Schedule; and
(b) in respect of:
(i) units of pension in respect of which the obligation to contribute comes into existence on or after 1 July 1962; or
(ii) reserve units of pension for which he commences to contribute on or after that date;
an amount ascertained in accordance with the rates of contribution specified in Table II in the Fourth Schedule to this Act.