OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)

PART II - SUPERANNUATION FUNDS  

Division 1 - General  

REGULATION 8   VESTING STANDARDS - CERTAIN CONTRIBUTIONS TO FUNDS  

8(1)   [ Prescribed standard ]  

For the purposes of subsection 7(1) of the Act, a standard specified in this regulation is prescribed in relation to the vesting in members of superannuation funds of benefits arising directly or indirectly from amounts contributed to the funds.

8(1A)   [ Vesting of benefits ]  

Any benefits, other than death or disability benefits, vest in the member on the day on which the benefits accrue, if the benefits arise directly or indirectly from contributions made in respect of a member of a superannuation fund:

(a) by an employer in amounts that do not exceed the minimum amounts required by the Guarantee Act so that superannuation guarantee charge is not payable by the employer; or

(b) as payment of the shortfall component in relation to the member; or

(c) in accordance with a prescribed agreement or award.

8(2)   [ Public sector funds ]  

In the case of a public sector fund, paragraph (1A)(c) applies only in respect of benefits referred to in that subregulation accruing on or after 1 July 1990 or the date of the prescribed agreement, whichever is the later.