📜 State Superannuation Amendment Regulations 2024
RegulationsSL 2024/19518 September 2024
Principal Act
These regulations amend the State Superannuation Regulations 2001 to address inactive, low-balance superannuation accounts. They allow the Board to transfer these accounts to the Commonwealth under the Unclaimed Money Act and cancel risk benefits/insurance for inactive members, with prior notice.
Members with inactive, low-balance West State Super and GESB Super accounts may have their accounts transferred to the Commonwealth and lose risk benefits or insurance cover if they do not actively maintain their accounts. The Board has new notification and cancellation powers.
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