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Government Superannuation Act 1972

CONSOLIDATED ACTS OF SAMOA 2010

GOVERNMENT SUPERANNUATION ACT 1972

Arrangement of Provisions

TITLE

1. Short title
2. Provisions of National Provident Fund Act 1972 to apply to this Act
3. Interpretation and application
4-14. Repealed
15. Regulations
16. Closure to new contributors
17. Cessation of contributions
18. Contributor's transfer balance
19. Payment of benefits
20. Dissolution of separate funds
21. Transfer of members
22. Loan balances
Schedule

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THE GOVERNMENT SUPERANNUATION ACT 1972
1972 No.4

AN ACT to provide for the administration of the Government Superannuation Scheme by the Samoa National Provident Fund Board.

(17 July 1972)
(Commencement date: 17 July 1972)

1. Short title - This Act may be cited as the Government Superannuation Act 1972.

2. Provisions of National Provident Fund Act 1972 to apply to this Act - (1) Words and expressions used in this Act shall, unless the contrary intention appears, have the same meaning as in the National Provident Fund Act 1972 (hereinafter referred to as the principal Act), and the provisions of the principal Act, except as specified in subsection (2) or otherwise, so far as may be applicable, shall extend and apply to the cases provided for by this Act in as full and ample a manner as if this Act had been incorporated with and formed part of the principal Act.

(2) Sections 19, 40, 42(1) (b), (d), (e), (f), (i), and (j), 41(2), 43, 45, 46, 47 and 53 and the whole of Parts VI, X, and XI of the principal Act shall have no application to this Act.

3. Interpretation and application - (1) In this Act the expression "Government Superannuation Scheme" means the Samoa Superannuation Scheme which was formerly established within the New Zealand Government National Provident Fund to provide superannuation benefits for employees of the Government of Samoa, employees of the Samoa Trust Estates Corporation and the employees of the [Bank of Samoa] and includes the accounts within the New Zealand Government National Provident Fund to which the contributions of the employees, the subsidies of their respective employers and the income arising from the investment of such contributions and subsidies together with any reserve accounts as may have been created, whether from distributions of income, forfeiture of subsidies, or interest or otherwise howsoever.

(2) This Act shall come into force on a date to be specified by the Minister either in the Samoa Gazette or the Savali.

(3) Subject to the succeeding subsection hereof, this Act shall apply to such of those employees who are contributors to the Government Superannuation Scheme at the date of commencement of this Act and to those persons who subsequently become employees of the Government of Samoa or of such of its associated bodies or instrumentalities as may be agreed between the Board and any such body or instrumentality that this Act shall be applicable in its respect.

(4) This Act shall not apply to any employee (not being an employee who is a contributor to the Government Superannuation Scheme at the date of the commencement of this Act) if:

(a) The employee so elects on registration of the employee by his or her employer at the commencement of this Act or on the employee subsequently becoming eligible under the preceding subsection;

(b) The employee is engaged on a temporary or casual basis or as a labourer;

(c) Part XI of the Principal Act applies in respect of the employee;

(d) The employee has ceased to be employed by any employer to whom this Act applies:

PROVIDED THAT in respect of any employee of the [Bank of Samoa] who is a contributor to the Government Superannuation Scheme at the date of commencement of this Act the employee may within 24 months from and after the date of commencement of this Act elect to cease to be a member of the Government Superannuation Scheme.

4. – 14. - Repealed.

15. Regulations - The Head of State, acting on the advice of Cabinet, may from time to time make such regulations as shall be necessary or expedient for giving full effect to the provisions of this Act and for the due administration thereof.

16. Closure to new contributors - With effect from the 1st day of July 1993 the Board shall not admit any new contributor as a member under the provisions of this Act.

17. Cessation of contributions - With effect from the 1st day of July 1993 all contributions payable by or on behalf of an employee under the provisions of section 5 shall cease.

18. Contributor's transfer balance - (1) In respect of each contributor to whom this Act applies as at the 30th day of June 1993 the Board shall determine an amount calculated in accordance with the provisions of the Schedule and representing the value of the benefits accrued in respect of such contributor up to the 30th day of June 1993 under the provisions of this Act and, subject to subsection (2), the amount so determined shall be credited to an account in the name of the contributor in the National Provident Fund as at the 30th day of June 1993.

(2) With effect from the 1st day of July 1993 the liability of the Government Superannuation Fund in respect of such contributor shall cease.

19. Payment of benefits - With effect from the 1st day of July 1993; Any pension payable as at the 30th day of June 1993 under the provisions of this Act shall from the 1st day of July 1993 be payable from the Pension Reserve Account of the National Provident Fund under the provisions of section 27 of the principal Act and the liability of the Government Superannuation Fund in respect of such pension shall cease.

20. Dissolution of separate funds - (1) The separate funds held within the National Provident Fund under the provisions of section 7 of the principal Act in respect of the Government Superannuation Fund shall be dissolved from the 1st day of July 1993.

(2) The sum of the amounts determined under the provisions of section 18(1) in respect of all contributors shall with effect from the 30th day of June 1993 form part of the general funds of the National Provident Fund.

(3) An amount being the difference between:

(a) The sum of the Government Superannuation Fund Contribution Account and the Government Superannuation Fund Reserve Account determined as at the 30th day of June 1993; and

(b) The sum of the contributors' transfer balances determined in accordance with the provisions of subsection (2) -

shall form part of the Pension Reserve Account of the National Provident Fund as provided for in section 27(1) of the principal Act.

21. Transfer of members - With effect from the 1st day of July 1993 all contributors for whom an amount has been determined under the provisions of section 18 shall cease to be members of the Government Superannuation Fund and shall become subject to the full provisions of the principal Act.

22. Loan balances - Any amount outstanding under a loan granted under the provisions of section 21 as at the 30th day of June 1993 in respect of a contributor shall from the 1st day of July 1993 be repayable on such terms and conditions as the Board may determine for this purpose under the provisions of section 38(2) of the principal Act.

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SCHEDULE

Section 18 (1)

CALCULATION OF TRANSFER BALANCES

The basis for the calculation of contributors' transfer balances for the purpose of section 18(1) is as follows:

1. Contributors under age 55 on 30th June 1993
In respect of each contributor, the transfer balance will be the greater of:

(i) The amount calculated in accordance with the formula:

P x PV x $10.31 x YCM/YPM

where

$10.31 = the pension conversion factor, being the expected capitalised value of a pension of $1.00 per annum payable from age 55;

PV = the discount factor for the period from 30th June 1993 to the contributor's 55th birthday allowing for interest at 8% per annum;

P = the projected annual pension at age 55, being calculated in accordance with the formula:

(a) 2/105 x FAS x YPM less if, (a) is greater than $2,000 per annum.

(b) 0.25 x (a) - $500.

FAS = the projected final average annual salary at age 55 projecting future salary increases at the rate of 6% per annum; and

YCM = the years of membership that would have been completed at 30th June 1993, with parts of a year counting proportionately.

YPM = the potential years of membership that would have been completed on the contributor's 55th birthday, with parts of a year counting proportionately.

(ii) Twice the contributor's own contributions to the Fund.

2. Contributors aged 55 or more on 30th June 1993 - In respect of each contributor, the transfer balance will be calculated in accordance with the formula:

P x $10.31

where

P = The annual pension the contributor would have received if retirement took place on 30th June 1993; and

$10.31 = The pension conversion factor as given in paragraph 1 of this Schedule.

REVISION NOTES 1997

The Government Superannuation Act 1972 appearing in this reprint comprised that Act as it appears in the 1977 reprint together with the amendments shown below:

Sections 16, 17, 18, 19, 20, 21, and 22 were added by sections 3, 4, 5, 6, 7. 8 and 9 of the Government Superannuation Amendment Act 1993.

Sections 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 and 14 were repealed by section 10 of the Government Superannuation Amendment Act 1993.

A new Schedule replacing the previous Schedule as contained in the Schedule to the Government Superannuation Amendment Act 1993 has been incorporated.

REVISION NOTES 2008

This law has been generally edited as provided for by section 5 of the Revision and Publication of Laws Act 2008. The following general revisions have been made –

(a) References to Western Samoa have been amended to Samoa in accordance with an amendment to the Constitution of Samoa in 1997.

(b) The fines have been amended and are stated as penalty units as provided for by the Fines (Review and Amendment) Act 1998.

(c) All references to the male gender have been made gender neutral.

(d) Amendments have been made to conform to modern drafting styles and to use modern language as applied in the laws of Samoa.

(e) Amendments have been made to up-date references to offices, officers and statutes.

(f) Other minor editing has been done in accordance with the lawful powers of the Attorney General.

There were no amendments made to this law since the publication of the Western Samoa Statutes Reprint 1978-1996.

This law has been consolidated and revised by the Attorney General under the authority of the Revision and Publication of Laws Act 2008 and is an official version of this Act as at 31 December 2007. It is an offence to publish this Act without approval or to make any unauthorised change to an electronic version of this Act.

Revised and consolidated by Graham Bruce Powell
Under the supervision of Teleiai Lalotoa Sinaalamaimaleula Mulitalo (Parliamentary Counsel)

REVISION NOTES 2008 No. 2

The commencement date has been inserted after the date of assent.

This law has been consolidated and revised by the Attorney General under the authority of the Revision and Publication of Laws Act 2008 and is an official version of this Act as at 31 December 2008. It is an offence to publish this Act without approval or to make any unauthorised change to an electronic version of this Act.

Revised and consolidated by the Legislative Drafting Division under the supervision of Teleiai Lalotoa Sinaalamaimaleula Mulitalo (Parliamentary Counsel).

REVISION NOTES 2009

There were no amendments made to this law since the publication of the Consolidated and Revised Statutes of Samoa 2007.

This law has been consolidated and revised by the Attorney General under the authority of the Revision and Publication of Laws Act 2008 and is an official version of this Act as at 31 December 2009. It is an offence to publish this Act without approval or to make any unauthorised change to an electronic version of this Act.

Revised and consolidated by the Legislative Drafting Division under the supervision of Papalii Malietau Malietoa (Parliamentary Counsel).

REVISION NOTES 2010

There were no amendments made to this law since the publication of the Consolidated and Revised Statutes of Samoa 2007.

This law has been revised by the Attorney General under the authority of the Revision and Publication of Laws Act 2008 and is an official version of this Act as at 31 December 2010. It is an offence to publish this Act without approval or to make any unauthorised change to an electronic version of this Act.

Revised by the Legislative Drafting Division under the supervision of Papalii Malietau Malietoa (Parliamentary Counsel).

The Government Superannuation Act 1972 is administered by the Ministry of Finance