Commonwealth Consolidated Acts Commonwealth Consolidated Acts1 Section 12
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"default fund employee" : see subsection 149A(2).
2 Section 12
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"defined benefit member" has the meaning given by the Superannuation Guarantee (Administration) Act 1992 .
3 Section 12
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"exempt public sector superannuation scheme" has the meaning given by the Superannuation Industry (Supervision) Act 1993 .
4 Section 12
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"MySuper product" has the meaning given by the Superannuation Industry (Supervision) Act 1993 .
5 At the end of Subdivision C of Division 3 of Part 2 - 3
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149A Superannuation contributions for defined benefit members
(1) A modern award must include a term that permits an employer covered by the award to make contributions to a superannuation fund or scheme in relation to a default fund employee who is:
(a) covered by the award; and
(b) a defined benefit member of the fund or scheme.
Note: An employer may make contributions under this term even if the superannuation fund or scheme to which the contributions are made is not specified in the modern award because of section 155A.
(2) An employee is a default fund employee if the employee has no chosen fund within the meaning of the Superannuation Guarantee (Administration) Act 1992 .
6 At the end of Division 3 of Part 2 - 3
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155A Terms dealing with superannuation
(1) A modern award must not include a term that has the effect of requiring or permitting contributions, for the benefit of an employee covered by the award who is a default fund employee, to be made to a superannuation fund or scheme specified in the modern award, unless one of the following is satisfied in relation to the fund or scheme:
(a) it is a fund that offers a MySuper product;
(b) it is an exempt public sector superannuation scheme.
Note: Contributions may be made to a superannuation fund or scheme for its defined benefit members under section 149A even though the fund or scheme is not specified in a modern award because of this section.
(2 ) Subsection ( 3 ) applies if the Australian Prudential Regulation Authority ( APRA ) gives FWA notice under subsection 29U(4) of the Superannuation Industry (Supervision) Act 1993 that a regulated superannuation fund no longer offers any MySuper product.
(3 ) FWA must:
(a) ensure that the text of a modern award as published by FWA does not include a term that has the effect of requiring or permitting contributions, for the benefit of an employee covered by the award who is a default fund employee, to be made to the fund; and
(b) do so as soon as is reasonably practicable after receiving the notice.
(4 ) Subsection ( 5 ) applies if APRA gives FWA notice under section 29XC of the Superannuation Industry (Supervision) Act 1993 that a scheme has ceased to be an exempt public sector superannuation scheme and does not offer a MySuper product.
( 5 ) FWA must:
(a) ensure that the text of a modern award as published by FWA does not include a term that has the effect of requiring or permitting contributions, for the benefit of an employee covered by the award who is a default fund employee, to be made to the scheme; and
(b) do so as soon as is reasonably practicable after receiving the notice.
7 At the end of section 194
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; or (h) a term that has the effect of requiring or permitting contributions, for the benefit of an employee (the relevant employee ) covered by the agreement who is a default fund employee, to be made to a superannuation fund or scheme that is specified in the agreement but does not satisfy one of the following:
(i) it is a fund that offers a MySuper product;
(ii) it is a fund or scheme of which the relevant employee, and each other default fund employee in relation to whom contributions are made to the fund or scheme by the same employer as the relevant employee, is a defined benefit member;
(iii) it is an exempt public sector superannuation scheme.
8 At the end of Schedule 1 to the Act
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Part 2 -- Amendments made by the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012
In this Part:
"amended Act" means this Act as amended by the Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 .
9 Application of sections 149A and 155A of amended Act
Sections 149A and 155A of the amended Act apply in relation to a modern award that is in operation on or after 1 January 2014 , whether or not the award was made before that day.
10 FWA to vary certain modern awards
(1) This clause applies in relation to a modern award if the award:
(a) is made before 1 January 2014 ; and
(b) is in operation on that day; and
(c) immediately before that day, does not include a term (the relevant term ) of the kind mentioned in section 149A of the amended Act.
(2) FWA must, by 31 December 2013 , make a determination varying the modern award to include the relevant term.
(3) A determination made under subclause ( 2) comes into operation on (and takes effect from) 1 January 2014 .
(4) Section 168 applies to a determination made under subclause ( 2) as if it were a determination made under Part 2 - 3.
11 FWA to update text of certain modern awards
(1) This clause applies in relation to a modern award if the award:
(a) is made before 1 January 2014 ; and
(b) is in operation on that day; and
(c) immediately before that day, includes a term (the relevant term ) of the kind mentioned in section 155A of the amended Act that specifies a fund or scheme (a non - complying fund or scheme ) that does not satisfy paragraph ( 1)(a) or (b) of that section.
(2) FWA must ensure that the text of the modern award as published by FWA does not include a non - complying fund or scheme in the relevant term.
(3) FWA must do so by 1 January 2014 ( despite section 155A of the amended Act ) .
12 Application of paragraph 194(h) of amended Act
Paragraph 194(h) of the amended Act applies in relation to an enterprise agreement that is approved by FWA on or after 1 January 2014 .
Superannuation Guarantee (Administration) Act 1992
9 At the end of subsection 12A(1)
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; (j) State reference transitional award or common rule .
10 At the end of subsection 32C(6)
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; or (i) an award mentioned in paragraph 2(2)(a) of Schedule 3 to the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 ; or
(j) a State reference transitional award or common rule.
Superannuation Industry (Supervision) Act 1993
11 At the end of section 29U
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(4) If :
(a) APRA cancels an authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product ; and
(b) as a result of the cancellation, the fund no longer offers any MySuper product;
APRA must also notify Fair Work Australia in writing of that fact.
12 At the end of Division 8 of Part 2C
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29XC Public sector superannuation scheme ceases to be exempt
If APRA becomes aware that:
(a) a public sector superannuation scheme has ceased to be an exempt public sector superannuation scheme; and
(b) the scheme is not a regulated superannuation fund that offers a MySuper product;
APRA must notify Fair Work Australia of that fact.
13 Section 29WA of SIS Act not apply to contributions made under certain enterprise agreements
(1) This item applies if:
(a) an enterprise agreement is approved by the FWC before 1 January 2014 ; and
(b) at the time the agreement is approved by the FWC , the agreement includes a term that has the effect of requiring or permitting contributions, for the benefit of an employee (the relevant employee ) covered by the agreement who is a default fund employee, to be made to a superannuation fund or scheme that is specified in the agreement but does not satisfy one of the following:
(i) it is a fund that offers a MySuper product;
(ii) it is a fund or scheme of which the relevant employee, and each other default fund employee in relation to whom contributions are made to the fund or scheme by the same employer as the relevant employee, is a defined benefit member;
(iii) it is an exempt public sector superannuation scheme; and
(c) on or after 1 January 2014 , one or more contributions (the relevant contributions ) are made to the fund or scheme under, or in accordance with, the agreement.
(2) Section 29WA of the SIS Act does not apply to the relevant contributions.
(3) In this item:
default fund employee has the same meaning as in the Fair Work Act 2009 .
defined benefit member has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 .
enterprise agreement has the same meaning as in the Fair Work Act 2009 .
exempt public sector superannuation scheme has the same meaning as in the SIS Act.
FWC has the same meaning as in the Fair Work Act 2009 .
MySuper product has the same meaning as in the SIS Act.
SIS Act means the Superannuation Industry (Supervision) Act 1993 .