Parliamentary Superannuation Determination 2003 Amendment Determination 2015

2015/317

Coat of Arms of New Zealand

Parliamentary Superannuation Determination 2003 Amendment Determination 2015

Pursuant to section 12(1)(ba) of the Remuneration Authority Act 1977, the Remuneration Authority makes the following determination (to which is appended an explanatory memorandum).

Determination

1 Title

This determination is the Parliamentary Superannuation Determination 2003 Amendment Determination 2015.

2 Commencement

This determination comes into force on the day after the date of its notification in the Gazette.

3 Principal determination

This determination amends the Parliamentary Superannuation Determination 2003 (the principal determination).

4 Clause 3 amended (Interpretation)

In clause 3, revoke the definition of registered superannuation scheme.

5 Clause 4 amended (Entitlement to superannuation subsidy)

In clause 4, replace “registered superannuation scheme” with “retirement scheme”.

6 Clause 6 amended (Ratio of subsidy to member’s contribution)

In clause 6, replace “registered superannuation scheme” with “retirement scheme”.

Dated at Wellington this 1st day of December 2015.

Angela Foulkes,
Member.

Diane Morcom,
Member.

Explanatory memorandum

This memorandum is not part of the determination, but is intended to indicate its general effect.

This determination, which comes into force on the day after the date of its notification in the Gazette, amends the Parliamentary Superannuation Determination 2003. The amendments replace references to registered superannuation schemes with references to retirement schemes, to align the terminology with that used in the Financial Markets Conduct Act 2013, and do not in any way affect existing entitlements.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 10 December 2015.