AGY-1084 | State Public Service Superannuation Board

Full description

The State Superannuation Fund was closed to new members on 1 July 1985. (1) The State Public Service Superannuation Board was constituted with effect from 30 April 1985 in order that the State Public Service Fund could be opened effectively from 1 July 1985. (2) The Board consisted on a President and Vice President, an Actuarial Member, and two elected members, one full-time and one part-time. (3) The functions of the Board were to: * Receive contributions
* Pay benefits
* Invest the Fund
* Manage Fund Assets
* Maintain an effective recruitment program and provide information and services to fund members in regard to the membership of the scheme (4) The State Public Service Superannuation Board ceased to exist from 1 April 1988, following amendments to the Superannuation Act, 1916. From that date the administration of the Fund was transferred to the State Authorities Superannuation Board which was constituted under the provisions of the Superannuation Administration Act, 1987 (Act No. 210 1987). FOOTNOTES:
(1) State Superannuation Board annual report for the year ended 30 June 1986 page 5.
(2) New South Wales State Public Service Superannuation Board Annual Report for the year ended 30 June 1986 page 63 published in a joint volume also containing the Annual Report of the State Superannuation Board for the year ended 30 June 1986.
(3) State Public Service Superannuation Board Act, 1985 s. 36(2)
(4) Annual report for the year ended 30 June, 1986 Op. Cit p. 63