June 2002 Volume 83 Number 6 "serving the protectors"
Police Super Update www.policesuper.sa.gov.au
By Micheal Hogg

Superannuation changes for divorcing couples

The Commonwealth has introduced new legislation, the Family Law Legislation Amendment (Superannuation) Act 2001, which provides for the division of superannuation benefits accrued by members of superannuation funds, in the event of divorce. It is expected that this legislation will come into operation by the end of 2002.

The new Commonwealth legislation will provide that, upon divorce, a non-member spouse will be entitled to receive a share of the member spouse’s accrued superannuation benefit.

Under the legislation, divorcing couples will be required to divide their accrued superannuation benefits held with a particular superannuation fund, in the same way as other assets are divided. The division of their superannuation can be made by:

• mutual agreement; or
• court order.

The procedures for valuing and dividing accrued superannuation benefits are set down in the Family Law (Superannuation) Regulations (No. 303), and these regulations will come into operation on the commencement of the Family Law Legislation Amendment (Superannuation) Act 2001. Lump sum and pension superannuation benefits will be subject to different methods of valuation.

Superannuation agreements in place before the introduction of the new legislation will still be legally binding and the Police Superannuation Board will be required by law to honour all agreements made prior to the new legislation taking affect.

The legislation governing the Police Pension and Lump Sum schemes, the Police Superannuation Act, 1990, will require amendments, which will include Commonwealth-approved methods of determining the entitlement of the spouse of the member of the police scheme.

The new Commonwealth legislation doesn’t deal with the breakdown in a de facto relationship, as the Commonwealth has no jurisdiction in this area.

To view the new legislation and regulation, see http://law.gov.au/c_legislation.html

Member Information

For information on superannuation contact either the Police Superannuation Office or refer to the website listed above. Access to the website is now available on the SAPOL Intranet under Services, Business Service, FMSB. Group information sessions can be arranged upon request.

 
Police Superannuation office:
Ground floor, 30 Flinders St, Adelaide, 5000.
Postal Address: GPO Box 1539, Adelaide, 5001.
Internal postcode: 128.
Phone: 8204 2964 or 8204 2965.
Fax: 8204 2303.
E-mail: admin@policesuper.sa.gov.au
SAPOL Intranet: Police Superannuation,
Services, Business Service, FMSB.

PASAweb   Index & Search   Top of Page   Comments   Email to Editor

The Police Journal Online is an official publication of the Police Association of South Australia and is published monthly. Editors of kindred publications can seek permission from the Editor to re-publish any Police Journal Online article. Copyright 2001  The Police Association of South Australia sustance