Summary
Amends the
Superannuation Act 1976
,
Superannuation Act 1990
and
Superannuation Act 2005
to: provide for the application to the Commonwealth Superannuation Scheme (CSS) Board of the new fitness and propriety operating standard under the
Superannuation Industry (Supervision) Act 1993
; reduce the reliance on acting members of the CSS Board, and for the use of proxies at Board meetings; allow the CSS and Public Sector Superannuation Scheme (PSS) Boards to delegate certain functions to their staff; and broaden the type of information that can be provided to members via their employers; and
Superannuation Act 1976
to: allow negative crediting rates to be applied to CSS member accounts; validate the payment of incorrect benefits to certain members of the CSS; and allow for debt recovery by set-off against benefits payable.