Government Superannuation Fund Act 1956

Reprint as at 8 September 2018

Coat of Arms of New Zealand

Government Superannuation Fund Act 1956

Public Act
 
1956 No 47
Date of assent
 
25 October 1956
Commencement
 
see section 1(2)

Act name: replaced, on 1 November 1976, pursuant to section 3(1) of the Government Superannuation Fund Amendment Act 1976 (1976 No 30).

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Treasury.

Contents

Title
1Short Title and commencement
2Interpretation
2AApplication to certain employees of State enterprises
2BApplication to certain employees of Crown Research Institutes
2CSuperannuation rights of certain former employees of Tokelau Public Service
3Government Superannuation Appeals Board
3AMembership [Repealed]
3BNomination of appointed members [Repealed]
3CTerm of office of appointed members [Repealed]
4Function of Appeals Board
5Appointment of members of Appeals Board
6Term of office
7Appeals to Appeals Board
8Way in which appeals to be made
9Right of appellant to receive evidence
10Right of appellant to be heard
11Determination of appeals
12Matters to be taken into account on appeal
12AAppeals Board to give notice of decision, etc
12BDecision on appeal to be final
12CStating case for High Court
12DFurther provisions relating to Appeals Board
13Government Superannuation Fund
13AProperty of Fund
14Money payable into Fund
15Money payable out of Fund
15AEstablishment of Government Superannuation Fund Authority
15BInvestment
15CBorrowing
15DFunctions
15EFunding of administrative expenses of Authority
15FAuditor-General to be auditor of Authority [Repealed]
15GRole of board of Authority [Repealed]
15HMembership of board [Repealed]
15IFurther provisions applying to board
15JInvestment of Fund
15KNo controlling interests
15LEstablishment of investment policies, standards, and procedures
15MContents of statements of investment policies, standards, and procedures
15NForecast financial statements
15OMinisterial directions relating to investment of Fund
16Reporting by Authority on Fund
16AInterest on money held in error [Repealed]
17Property to be held for paying benefits
18Interest on money held in error
19Administration and investment management and other service providers
19ACustodianship of Fund
19BPerformance reviews
19CPayment of administration expenses, etc [Repealed]
19DPowers in relation to Fund and schemes [Repealed]
19EDiscretionary powers of Authority
19FStatement of policies and exercise of discretionary powers
19GDelegation of Superintendent’s functions or powers [Repealed]
19HApplication of Part 4 of Financial Markets Conduct Act 2013
19IRights to information
20This Part not to apply to certain persons
21Contributors to the Fund
22Election by employee to become a contributor
22ACompulsory contribution requirements [Repealed]
22BLocally engaged staff of New Zealand High Commission in United Kingdom [Repealed]
22BALocally engaged staff of New Zealand High Commission in United Kingdom may elect to become contributors under Part 2A [Repealed]
23Contributor may elect to contribute in respect of any prior part of service
23AElection to contribute in respect of notional service
24Election to contribute in respect of previous contributory service
25Election to contribute in respect of previous service as contributing employee under a National Provident Fund scheme
26General provisions as to elections to become contributors
27Continuity of service
28Right to cease to be contributor under Part 2
29Contributions to be deducted from salary
30Variable percentage scheme
31Other contributions [Repealed]
32Contributions while salary temporarily stopped
33Election to contribute on higher salary in case of reduction
34Application of Fund [Repealed]
35Retiring allowance
36Retiring allowance when contributor medically unfit for further duty
37Increasing allowance for contributor retiring in consequence of injuries
38Computation of retiring allowances on average salary for last 5 years of service
39Proportionate reduction in contributory service if full contributions not paid [Repealed]
40Election of variable retiring allowance to secure a level income
41Election to receive refund of contributions instead of retiring allowance
42Refund of contributions on retiring before entitled to retiring allowance
43Election to continue contributory service after retirement
44Re-employment of contributor after retiring on allowance
45Benefits where contributor under this Part dies and leaves spouse or partner
46Refund of contributions where contributor under this Part dies without leaving spouse or partner
47Children’s allowance
48Annual allowances to surviving spouses, partners, or approved dependants in consideration of election to accept reduced retiring allowances
49Payments to personal representatives
50Provisions as to permanent officers becoming contributors [Expired]
50AMembers of Cook Islands Public Service may elect to become contributors under Part 2A
50BMembers of Niue Public Service and Tokelau Public Service may elect to become contributors under Part 2A
51Computation of contributory service
51AComputation of refunds for redundant employees of Niue Public Service
52Contributors entitled to pensions from university
52AUniversity contributors entering approved external employment
52BContributors to Federated Superannuation Scheme for Universities
53Teachers in endowed colleges or schools
54Teachers and education administrators serving in Pacific area
55Employees of service organisations
56Allowances may be declared to be salary [Repealed]
57Refund of contributions on allowances no longer included in salary [Repealed]
58Value of benefits for house, board, or lodging may be added to salary
59Computation of salaries of overseas representatives and their officers
60Contributions to Fund may be applied in restitution of public money misappropriated by contributor
60AReactivation of contributory service
61Power to postpone superannuation rights of members of Parliament
61AElection to become contributor under this Part
61AASpecial provisions in relation to elections made after 30 June 1992
61BRate of contribution
61CContributor may elect to contribute in respect of prior service
61DContinuity of service for the purposes of this Part
61EContributors under Part 2 may become contributors under this Part
61FRate of contributions by former contributors under Part 2
61GContribution rates where contributor under Part 2 was also contributing in respect of previous service [Repealed]
61HEffect of contributions in respect of period before person becomes contributor [Repealed]
61IEntitlement to retiring allowance
61JRetiring allowance of contributor who has been contributing since before 1946
61KRetiring allowance where contributor medically unfit
61LComputation of retiring allowance
61MBenefits where contributor under this Part dies before becoming entitled to retiring allowance and leaves spouse or partner
61NBenefits where contributor under this Part dies after becoming entitled to retiring allowance and leaves spouse or partner
61OBenefit where contributor under this Part dies without leaving spouse or partner
61PReduction of allowance or annuity where contributor was a contributor under section 30
61QChildren’s allowance
61RRight to cease to be contributor
61SRights and benefits where contributor ceases Government service
61TSections to apply to contributors and contributions under this Part
62Interpretation
62AApplication of Part 3
63Application of Part 2 to permanent members of regular forces and regular servicemen
63ARates of contribution to Fund of permanent members of regular forces and regular servicemen
63BFlat rate contributions
64Provisions as to permanent members and regular servicemen becoming contributors
65Election to contribute in respect of previous service in Her Majesty’s forces
66Provisions as to previous contributory service otherwise than in Her Majesty’s forces
66AContributions under special armed forces scheme by member with previous contributory service otherwise than in Armed Forces
66BFlying Qualification Pay and Surveying Pay
67General provisions as to elections
68Retiring allowance of permanent members or regular servicemen compulsorily retired
69Retiring allowance when contributing member medically unfit for further duty
70Contributors entering Government service after retirement from regular forces
70AContributor to special armed forces scheme entering Government service
71Effect of loss of pay through punishment
71AInterpretation
71BApplication
71CMembers of regular forces to become and remain contributors to Fund under this Part
71DContributors under Part 3 to become contributors under this Part
71EExisting members of regular forces may elect to become contributors under this Part
71FRate of contributions
71GEntitlement to retiring allowance
71HEntitlement to retiring allowance where retirement on grounds of disability
71IContributions and contributory service where contributor disciplined or service otherwise interrupted
71JBenefits where member of regular forces dies while deserter or dies or is discharged while absent without leave
71JARight to cease to be contributor under Part 3A
71KBenefits where contributor leaves regular forces and is not entitled to retiring allowance
71LBenefits on death of contributor
71MElection to surrender proportion of retiring allowance and receive cash payment
71NRight to defer retiring allowance to age 55 or 60 in return for lump sum at retirement
71OContributions in respect of previous service in armed forces
71POption where contributor on leave of absence without salary
71QElection to contribute in respect of previous Government service
71RElection to contribute at former rate where salary reduced
71SSections to apply to contributors and contributions under this Part
72Interpretation
73Application of this Part to Solicitor-General
74Application of this Part
74AApplication of this Part to Judges to whom Parts 4 and 5 applied
74BApplication of this Part to Judge of or over age of 63 years on appointment
74CContributions
74DService as a temporary Judge
74EEntitlement of Judge to retiring allowance
74FMinimum retiring allowance for certain Judges who retire at 68 years of age or over
74GMinimum retiring allowance for Judge who resigns on grounds of incapacity
74HPower to elect to receive refund of contributions instead of retiring allowance
74IEntitlement to refund where no entitlement to retiring allowance
74IARights and benefits where judicial service ceases other than on death
74JBenefits payable on death of Judge
[Repealed]
74KElection to surrender proportion of retiring allowance or annuity and receive cash payment [Repealed]
74LCertain Judges or surviving spouses or partners to be entitled to minimum payments
74MJudges Superannuation Account
[Repealed]
74NInterpretation [Repealed]
74OMasters may elect to contribute under Part 4 [Repealed]
74PJudges appointed as Masters may elect to continue to contribute under Part 4 [Repealed]
74QPart-time Masters [Repealed]
74RMasters may elect to continue to contribute under Parts 2, 2A, 3, or 3A [Repealed]
74SMaster deemed to have retired on expiration of term of appointment [Repealed]
74TTransitional provision [Repealed]
[Repealed]
75Interpretation [Repealed]
75AApplication of this Part [Repealed]
76Retiring allowances of Judges [Repealed]
77Election to contribute for widow’s annuity [Repealed]
78Contributions [Repealed]
79Annuity to widow or refund of contributions on death of contributor [Repealed]
79AElection by Judge or surviving spouse to surrender proportion of retiring allowance or annuity and receive cash payment [Repealed]
80Refund of contributions where Judge unmarried after retirement [Repealed]
81Judges’ Superannuation Account [Repealed]
81AInterpretation
81BApplication of this Part to Judges
81CApplication of this Part to persons to whom Part 4 applies
81DApplication of this Part to Judge of or over age of 63 years on appointment
81EApplication of this Part to Solicitor-General
81FContributions
81GService as temporary Judge
81HEntitlement of Judge to retiring allowance
81IComputation of retiring allowance
81JMinimum retiring allowance for Judge who resigns on grounds of incapacity [Repealed]
81KMinimum annuity payable to eligible spouse or partner of deceased Judge
81LBenefits where Judge dies while in office and leaves spouse or partner
81MBenefits where Judge dies after becoming entitled to retiring allowance and leaves spouse or partner
81NBenefit where Judge dies without leaving spouse or partner
81OChildren’s allowance
81OARight to cease to be contributor under Part 5A
81PRights and benefits where Judge ceases judicial service
81QBenefits where Judge who has made election under section 81P(1)(c) dies before becoming entitled to retiring allowance
81RBenefits where Judge dies before making election under section 81P(1)
81SCalculation of transfer value
81TCalculation of retiring allowance payable to Judge who has made election under section 81P(1)(c)
81UDetermination of amount of refund
81UAElection by Solicitor-General to continue to contribute to Judges Superannuation Account after retirement from office
[Repealed]
81VCertain Judges or surviving spouses to be entitled to minimum payments [Repealed]
81WProvision for payments
81XInterpretation
81XAApplication
81YAssociate Judges may elect to contribute under Part 5A
81ZJudges appointed as Associate Judges may elect to continue to contribute under Part 5A
81ZAPart-time Associate Judges
81ZBAssociate Judges may elect to continue to contribute under Parts 2, 2A, 3, or 3A
81ZCAssociate Judge deemed to have retired on expiration of term of appointment
82Interpretation
82AApplication
83Contributions by members
83ATaxation exemption in respect of contributions [Repealed]
83BElection to contribute in respect of notional service
83CInterest payments not to count as contributions
84Retiring allowance of members
84AElection to surrender portion of retiring allowance and receive cash payment
84AASpecial right of person who has not attained 50 years to elect to surrender proportion of retiring allowance and receive cash payment
84BRight to defer retiring allowance to age 55 years or 60 years in return for lump sum on retirement
84CElection of variable retiring allowance to secure level income
85Elections to receive cash benefits, etc
85ABenefit where retired member who is not entitled to retiring allowance dies before receiving cash benefit
85BRe-election as member before receiving any payment [Repealed]
85CRe-election as member after receiving cash benefit [Repealed]
85DRe-election as member before attaining age at which retiring allowance is payable [Repealed]
86Re-election as member after retiring
86ABenefits where member dies and leaves spouse or partner
86BBenefits where retired member dies before becoming entitled to retiring allowance and leaves spouse or partner
86CBenefits where retired member dies after becoming entitled to retiring allowance and leaves spouse or partner
86DBenefit where member or retired member dies without leaving spouse or partner
86EChildren’s allowance
86FElection to surrender proportion of annuity and receive cash payment
86FARight to cease to be contributor under Part 6
[Repealed]
87Exclusion of provision for annual adjustment [Repealed]
87AAnnual adjustments [Repealed]
87BElection to surrender proportion of retiring allowance or annuity and receive cash payment [Repealed]
88Provision for payments
88AApplication
88BMembers of Police to become and remain contributors to Fund under this Part
88CRate of contributions
88DCalculation of contributory service of contributors who become members of Police after 1 May 1985 and existing members who retire or die before attaining the age of 55 years
88ECalculation of contributory service of certain contributors who became members of Police before 1 May 1985 and who retire or die after attaining the age of 55 years
88FComputation of retiring allowance
88GIncreases to benefits where contributor leaves Police under certain provisions due to lack of fitness
88HBenefits where contributor leaves Police other than on death, retirement, or due to lack of fitness
88HARight to cease to be contributor under Part 6A
88IBenefits on death of contributor
88JOption where contributor on leave of absence without salary
88KContributor may elect to contribute in respect of prior service or notional service
88LService in Cook Islands, Niue, and Tokelau
88MSections to apply to contributors and contributions under this Part
88NApplication
88NAApplication to certain members of prisons service appointed on contract
88OMembers of prisons service who may contribute to Fund under Part 6B
88PRight of contributors under Part 2 of Government Superannuation Fund Amendment Act 1962 to cease to pay contributions after 32 years’ contributory service
88PARight to cease to contribute under Part 6B
88QRate of contributions
88RCalculation of contributory service
88SEntitlement to retiring allowance
88TCalculation of retiring allowance
88UBenefits where contributor leaves prisons service other than on death or retirement
88VBenefits on death of contributor
88WOption where contributor on leave of absence without salary
88XContributor may elect to contribute in respect of prior service or notional service
88YService in Cook Islands, Niue, and Tokelau
88ZSections to apply to contributors and contributions under this Part
88ZAApplication of this Part
89Payment of retiring allowances and annuities
89ATreatment of contributory service under one Part of the Act as contributory service under another Part
89BOther contributions
89CRefund of contributions on allowances no longer included in salary [Repealed]
89DInterest payments by contributor not to count as contributions
89EOptions where contributions not fully paid
90Recovery of money paid without lawful authority
90AConflicting claims of spouses or partners
91Election to surrender proportion of retiring allowance and receive cash payment
91AElection to surrender proportion of annuity and receive cash payment
91BSurrender of part of retiring allowance for allowance to another person
92Retiring allowances not alienable
92AContributor may grant charge over contributions
92BContributor and chargeholder or potential chargeholder entitled to certain information
92CProcedure where charge notified
92DPayment of charge
92ERights of chargeholder
92FProcedure for payment of charge
92GEffect on contributor of payment to chargeholder
92HEffect on annuities, allowances, and other payments of payment to chargeholder
92IGiving of notices
92JAuthority may apply to court for directions
92KPerson not to become a contributor while a contributing employee under National Provident Fund Act 1950
93Financial statements
93AAudit
93BAnnual report
94Actuarial examinations of Fund
95Annual subsidies from Government and from funds or accounts out of which contributors’ salaries are paid
95AAAuthority to incur certain expenses
95ATiming of transfer of employee contributions to Fund
95BInterest payable on overdue amounts
95CRecovery of debts
95DInformation to be provided by controlling authorities
96Offences
97Regulations
98Reciprocal arrangements with other Commonwealth Governments or other bodies
99Repeals and savings
Reprint notes

An Act to consolidate and amend the law relating to superannuation