34;Accumulations Fund" means the employer-funded Accumulations Superannuation Fund of Queensland Electricity Supply Industry established under the Act. The provisions of section 10 also apply to any voluntary contributions made to the scheme after the commencement date. The personal declaration of the employee and the medical report to be prepared by the designated doctor shall be in Form 2. b) The employer shall, immediately after the medical examination of the eligible employee, forward the completed Form 2 to the Pension Board.
5 ARTICLES ON QUEENSLAND ELECTRICITY SUPPLY A. The Pensions Board shall admit the employee as a member and contributor to the scheme and shall award the employee a Class A medical classification. 6 BY-LAWS OF THE QUEENSLAND ELECTRICITY SUPPLY A. 1) Member contributions deducted from wages.-Unless the Pension Board otherwise directs, the contributions payable by a member shall be deducted by the employer in each payment of or on account of his wages, and immediately, credited the pension board in accordance with Article 8, subsection The employer must pay the member's and the employer's contribution to the pension board, and the employer must make an agreement with the member about repayment of the member's contribution when he resumes service.
The Additional Contributions will be the product of (i) and (ii) hereof, where-. i) the applicable rate shall be in accordance with Appendix 2 to these Articles in respect of the Member's nearest birthday on the Commencement Date and his Membership Period prior to the Commencement Date; And. ii) is his salary from time to time. There will be a staff account managed as part of the scheme. The SEAQ Accumulation Fund account will be credited with contributions made in respect of the named SEAQ Accumulation Fund members and debited with benefits and charges determined by the Pension Board and attributable to the named SEAQ Accumulation Fund members.
The interest rate in respect of these other Members will be determined by the Superannuation Board taking into account the actual interest earnings on the assets in the Staff Retirement Provident Fund Account excluding those assets from the Provident Fund Account and the SEAQ Accumulation Fund Account.
PART III-BENEFITS AND PAYMENTS
34;Former member" means a person who is no longer a member of the scheme, but who is still entitled to the payment of a benefit, which is preserved in accordance with Article 11, paragraph 9, herein. 34;Member benefit multiple" means with respect to a member, unless otherwise stipulated in Article 17 A-. i) Nineteen and one-half percent (19112%) for each full year of his Membership Period after the Commencement Date and before he attains the age of sixty (60), and pro rata for each additional full month of said Membership Period; and. ii) Twelve and a half percent (12112%) for each full year of his membership period after commencement. Date and after he attains the age of sixty (60) years and before he attains the age of sixty-five (65) years and pro rata for each additional full month thereof.
In relation to a member who has been a member of any SEAQ, NEAQ and REB-. i) Nineteen and a half centums (19112%) for each full year of his membership period prior to the commencement date in which he has paid contributions at the rate of at least five and one quarter centums (51/4%). salary and before reaching sixty (60) years of age, and proportionally for each additional full month of the mentioned membership period; plus. ii) If the member pays additional contributions to the scheme, nineteen and a half percent (19112%) for every other full year of his membership period before the commencement date and before he attains the age of sixty (60). , and pro rata for each additional full month of said membership period; or (iii). In relation to a member who was a member of the BCC Fund, in the event that he makes additional contributions to the scheme-. i) Nineteen and a half centum (191fz%) for each full year of his Membership Period prior to the Commencement Date and before he attains the age of sixty (60), and pro rata for each additional full month of said Membership Period; and. ii) Twelve and a half centum (121fz%) for each full year of his membership period before the date of commencement and after he attains the age of sixty (60) years and before he attains the age of sixty-five (65) years and pro rata for each additional full month of said membership period ; or e). In relation to a member who was a member of the BCC Fund and to whom paragraph (d) does not apply - (i) Fifteen percent (15%) for each full year thereof.
In relation to a member who was a member of the BCC Provident Fund, nine and a half percent (91fz%) in favor. 26 A.ll ARTICLES OF THE QUEENSLAND ELECTRICITY SUPPLY A.ll EMPLOYEE REGULATIONS IN THE INDUSTRY. each full year of its Membership Period prior to the Commencement Date and pro rata for each additional full month of said Membership Period; G). The benefit is equal to the amount of the lump sum benefit that would have been paid to the member if he had retired on the date on which he reached the age of sixty-five (65) years, plus an annuity determined by the Pension Board from the date on which he reaches the age of sixty-five (65) until the date on which he ceases to be an employee. 5) Pension due to total and permanent disability. The Pension Board will pay a lump sum benefit to a member if he ceases to be an employee and member before the age of sixty-five (65) on account of his total and permanent disability.
If the Disability Pensioner resumes employment in the electricity supply industry, his Disability Pension will cease. The Superannuation Board can also determine an interim interest rate where a benefit must be paid before the annual interest rate is determined. 34;SR" is the Salary on the Termination Date applicable to the classification of the Member on the date of reduction; and.
Provided that the total amount of the disability pension may not exceed eighty (80) percent of the member's expected final average salary. Provided further that if a member who has made an election under Article 17A becomes entitled to an additional benefit under this Article, the amount of the additional benefit shall be determined by the Pension Board after actuarial advice. The Pensions Board can forward benefits to the postal address most recently notified in accordance with section 12, subsection
38 A.13 QUEENSLAND ELECTRICITY SUPPLY ARTICLES A.13 INDUSTRIAL EMPLOYEE SCHEME. ii) submit in writing to the Pensions Board within the time specified in the notice all information required by the notice in relation to any employment (whether as an employee or on his own account) in which the person is employed during the period specified in the notification. 1) (a) Transfers to the scheme. – The Board may, with the approval of the Governor in Council, with an employer in Queensland or elsewhere who has established a. The costs of the medical examination referred to in paragraph (a) are covered by the member.
Additional contributions in respect of members of the BCC Fund The rates of additional contributions referred to in paragraph (i) of clause 9 (3) (b) of the Articles are set out in the table below.
