ELECTRICITY INDUSTRY SUPERANNUATION SCHEME INDEX TO THE RULES. Rule No. Subject Page No. PART I PRELIMINARY. 1. Definitions 1 2.

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1 ELECTRICITY INDUSTRY SUPERANNUATION SCHEME INDEX TO THE RULES EXECUTION DIVISION 1 Rule No. Subject Page No. PART I PRELIMINARY 1. Definitions 1 2. Interpretation 10 PART II SUPERANNUATION BOARD POWERS 3. Powers of Superannuation Board Members 11 3A. Common Seal 13 3B. Circular Resolutions Protection and Indemnity of Superannuation Board Members Delegation by Superannuation Board 14 PART III DIVISIONS OF THE SCHEME AND THE SCHEME ASSETS 6. Divisions of the Scheme 15 6A Allocation of the Scheme Assets to the Divisions 15 6AB Admission of Associated Employers 16 6B Withdrawal of an Employer from the Scheme 16 6C Insolvency of an Employer 18 PART IV INVESTMENTS 7. Investment Powers 21 PART VII CONTRIBUTIONS 8. Payment of Contributions by Members 22 8A Member Contributions Paid by an Employer Member who Resigns to contest an Election 23 9A. Contributions by Private Sector Employers 23 9B. Contributions by Public Sector Employers 24 9C. Employer Contributions - General 24 9DA. Failure of an Employer to Pay its Contributions 24 9DB Government Co Contributions 25 H:\Documents\Trust Deed\PDF Rules\Index January 2018.doc

2 ii PART VIII EXPENSES 9E. Establishment of Surcharge Accounts 26 9F Surcharge Account Offset 26 9G Surcharge Account Contribution (Deleted) 27 PART IX TRANSFERS 10A. Transfer from one Employer to another Employer Transfers from Approved Benefit Arrangements Transfer of Benefit Entitlements to Approved Benefit 28 Arrangements 12A. Transfer to Division 5 of Members Employed by Certain 29 Employers and in Certain Divisions 12B Transfer to Division 5 for Account Based Pension 30 PART X WINDING UP THE SCHEME 13. Winding Up Requirements A. Application of Scheme Assets 32 13B. Securing Entitlements 33 PART XI ACCOUNT BALANCES AND BENEFITS 13C Contribution Account Interest Credited 35 14A. Interest on Delayed Benefit Payments 35 14B. Deduction of Surcharge Account 35 14C. Deduction and Remittance of Tax 36 14D. Family Law 36 14E. Early Release of Benefits 37 14F. Early Release Account 38 14G Splittable Contributions 39 14H Binding Nominations 40 14I Withdrawal of Unrestricted Non Preserved Benefits 42 14J Beneficiary Under Disability 43 PART XII REMUNERATION OF SUPERANNUATION BOARD MEMBERS 15. Remuneration of Superannuation Board Members 44

3 iii PART XIII ELECTION OF SUPERANNUATION BOARD MEMBERS 16. Election of Members 45 16A. Casual Vacancy Timetable for Election Members Eligible to Vote Nominations Election without Ballot Ballot Papers Electoral Material to be Provided with Ballot Papers Voting Duplication and Late Return of Ballot Papers Counting of Votes Scrutineers Declaration of Election 48 PART XIIIA APPOINTMENT OF SUPERANNUATION BOARD MEMBERS BY THE EMPLOYERS 27A. Interpretation 49 27B. Appointment Rules 49 27C Appointments 49 27D. Appointment Terms 49 27E. Replacement Appointed Members 50 27F Over-riding Requirements 50 PART XIV SUPERANNUATION GUARANTEE 28. SGC Benefit 52 PART XV ADJUSTMENTS FOR TAXATION 29. Taxation Reduction of Benefits Investment Return Untaxed Benefits Reduction in Death Benefits 55 Schedule 1A (Assumed Tax Rates) 57

4 iv DIVISION 2 - LUMP SUM SCHEME Rule No. Subject Page No. PART I - PRELIMINARY 1. Definitions 1 PART II - THE SCHEME ASSETS 2. Member Investment Election 10 PART III - CONTRIBUTORS, CONTRIBUTION AND CONTRIBUTION POINTS 3. Entry of Contributors Acceptance of Contributor without Medical 12 Examination 4A. Roll-Overs 13 4B. Second Employer Contributions Contribution Rates 14 5A. Additional Voluntary Contributions Contribution Points Additional Contribution Points and 17 Contribution Months PART IV - SUPERANNUATION BENEFITS 8. Retirement Resignation and Dismissal Retrenchment and Voluntary Separation Disability Pension Termination of employment on Invalidity Death of Contributor 29 13A. Transferred Account 34 13AA. Transferred Division 5 Entitlement 36 13B. Additional Benefit 36 13C. Preservation 38 13D. Terminal Medical Condition Benefit 39 PART V - TRANSFERRED CONTRIBUTORS 14. Application of Part V Definitions RG Scheme Contributors Later RG Scheme Contributors Scheme Contributors Dual Scheme Contributors 45

5 v PART VI - MISCELLANEOUS 20. Alternative Forms of Benefits Effect of workers compensation, etc., on 49 pensions 22. Division of benefit where deceased Contributor 50 is survived by lawful and putative spouses 23. Special provision for payment in case of 51 infancy or death 24. Pension not to be assignable Liabilities may be set off against benefits Power to obtain information Repayment of balance in Contribution Account Payment in case of a Beneficiary who is 52 incompetent 29. Notification to Superannuation Board on change in working 53 hours 29A. (deleted) 53

6 vi DIVISION 3 - PENSION SCHEME Rule No. Subject Page No. 1. (deleted) 1 2. Arrangement of Rules 1 PART I - PRELIMINARY 3. Definitions 1 4. (deleted) (deleted) (deleted) Apportionment of fortnightly pension (deleted) (deleted) 19 PART II 10. (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) 20 PART III - CONTRIBUTIONS Section I - New Contributors 27. Entry into Scheme Election to be Higher or Lower Benefit 21 Contributor 29. Contribution Months - Election to Purchase Contribution Months - Operative Date of 22 Election 31. Attribution of Contribution Months Amount of Contributions Cessation of Contributions 23 33A. Contribution Rate Options 23

7 vii Section II - Transferees from Wages to Salary 34. RG Moneys to be part of the Fund RG Members to be attributed Contribution 25 Months 36. Special percentage for RG Members 26 Section III - Other Contributors Regulations and Accepted Contributors 27 to be Pension Contributors 38. Election to be Higher or Lower Benefit 27 Contributors for 1960 Regulations and Accepted Contributors 39. (deleted) Amount of Contributions for 1960 Regulations 27 and Accepted Contributors 41. Cessation of Contributions for Regulations and Accepted Contributors 41A. Contribution Rate Options Election to make Maintenance Payments 30 Section IIIA - Contribution Points 42A. Contribution Points, Extrapolated Contribution 32 Points and Accrued Contribution Points Section IV - Reduction of Salary 43. Reduction of Salary 36 Section V - Payment of Contributions 44. (deleted) (deleted) 38 45A. Contributions assuming Standard Percentage 38 45B. Contribution Points exceeding Contribution Term (deleted) 38 PART IV - PENSIONS AND BENEFITS Section I - Pensions and Benefits for Pension Contributors 46AA. Contract Employment 39 46A. Transfer of Occupational Superannuation Entitlement to Pension Amount of Pension - Age Retirement New 40 Contributor 49. Amount of Pension - Age Retirement Other 41 Contributor 50. Amount of Pension - Invalidity Retirement - 42 New Contributor 51. Amount of Pension - Invalidity Retirement - 43

8 Other Contributor 52. Minimum Pension on second or subsequent 44 Retirement 53. Invalidity Pension - Continued Entitlement Temporary Invalidity Remunerative activity by invalidity pensioner Resignation or dismissal benefit 50 56A. Additional Benefit on Resignation or Dismissal Retrenchment and Voluntary Separation benefit Balance after all pensions and benefits 55 have been paid 59. Transfer from salaried staff to wages employment 56 viii Section IA - Early Retirement 59A Entitlement to pension 57 59B Amount of pension - early retirement - 57 New Contributor 59C Amount of pension - early retirement - 59 Other Contributor Section II - Pensions for Spouses 60. Amount of pension - Spouse of Contributor 61 Pensioner 61. Amount of pension - Spouse of Pension 62 Contributor 62. Pension on re-marriage 63 62A. Benefits where both lawful and putative spouses 63 Section III - Pension - Transitional 63. (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) (deleted) 65 Section IV - Supplementation of Pensions 71. Supplementation of pensions 66 Section V - Commutation of Pension 71A. Special Commutation Offers Commutation of pension 72 72A. Alternative commutation of pension for 75 Pension Contribut 72B. Commutation of pension for persons entitled to Invalidity Pension 77 72C. Alternative commutation of pension for Spouses 78 72D. Pension level after commutation 79

9 ix Section VI - Child Benefit 73. Commencement of Child Benefit Amount of Child Benefit - spouse entitled 80 to pension 75. Amount of Child Benefit - spouse not entitled 80 to pension 76. To whom Child Benefit belongs 82 Section VIA - Lump Sum on Death 76A. Benefit where there is no surviving spouse 83 76B. Beneficiaries of lump sum payable on death 84 Section VII - Pensions - General 77. Commencement of pension 86 77A. Offset for workers compensation 86 77B. Non-assignment of pension 87 PART V - PROVIDENT ACCOUNT Section I - Provident Account - General 78. Provident Account comprises three sections 88 78A. Beneficiaries of Benefits on Death 88 Section II - Provident Account Section A 79. Declaration as a Pension Contributor Section A benefit - Retirement, Retrenchment, 90 Voluntary Separation or death 81. Section A benefit - other cessation of 92 employment 81A. Election to be a Limited Benefit Contributor 94 81B. Election to be a Pension Contributor 94 81C. Transferred Account 94 81D. Additional Benefit 95 81E. Preservation or Transfer 96 81F. Contract Employment 97 Section III - Provident Account Section B 82. Additional Voluntary Contributions 98 82A. Roll-overs 99 82B. Second Employer Contributions Section B benefit 100

10 x Section IV - Provident Account Section C 84. Special Savings Account moneys to be part of the Scheme Special Savings Account contributor to be a Section C contributor Special Savings Account contributions and interest to be the allocated amount No further contributions to be made to the Special Savings Account or the Provident Account Section C Interest on allocated amount Allocated amount may be used as contributions Section C benefit 102 Section V - Provident Account Section D 91. (deleted) (deleted) (deleted) (deleted) A. (deleted) B. (deleted) C. (deleted) (deleted) (deleted) (deleted) 103 PART VI - CML SCHEME - MISCELLANEOUS 98. (deleted) (deleted) (deleted) (deleted) (deleted) 104 PART VII - OTHER TRANSITIONAL - SPECIAL ADMISSIONS 103. (deleted) (deleted) (deleted) Certain female contributors may 105 alter retiring age PART VIII 107. (deleted) 106

11 xi PART IX - MISCELLANEOUS 108. Interpretation by the Superannuation Board Recovery of amount owing Moneys payable to a person lacking capacity Failure to supply information or undergo 108 Medical 112. No compensation for alteration of benefits A. (deleted) 109 PART X - TRANSFER TO OTHER GOVERNMENT EMPLOYMENT 113. (deleted) (deleted) (deleted) 110 Schedule A STANDARD PERCENTAGE 111 Schedule B STANDARD PERCENTAGE 112 Schedule C NEGLECTED UNITS FACTOR 113

12 xii Rule No. Subject Page No. DIVISION 4 RG SCHEME PART I - GENERAL PROVISIONS 1. Definitions 1 1A. References to the "Scheme" 6 2. (deleted) 6 3. Membership 6 3A. Member Investment Election 6 4. (deleted) 7 PART II - CONTRIBUTIONS 5. Election to Contribute 8 6. Supplementary Contribution 8 7. Additional Voluntary Contributions 8 7A. Roll-overs 9 7B Second Employer Contributions 9 8. Cessation of Contributions 10 PART III - BENEFITS 9. Benefit Payable on Retirement, Invalidity, Death, 11 Retrenchment and Voluntary Separation 9A Benefit Payable on Death Benefit Payable for Terminal Medical Condition Benefit Payable on Resignation or Dismissal 13 11A. Preservation Option 14 11B. Transferred Account 16 11C. Additional Benefit 17 11D. Preservation 18 11E. Payment of Benefits on Voluntary Separation and Retrenchment Beneficiaries of Benefits on Death during Employment 19 12A. Contract Employment 20 12B. Transfer of Contract Employee Entitlement to Division 2 20 PART IV - MISCELLANEOUS 13. (deleted) Disclosure of Information Calculation of Interest Notices Persons under a Legal Disability (deleted) 23

13 xiii DIVISION 5 ACCUMULATION SCHEME Rule No. Subject Page No. PART I - GENERAL PROVISIONS 1. Definitions 1 PART II - MEMBERSHIP 2. Membership of Division 5 5 2A. Voluntary Contributions 6 2B. Rollovers 7 2C Second Employer Contributions 7 2D New Employer Contributions 8 PART III - SUPERANNUATION ACCOUNTS 3. Establishment & Maintenance 9 4. Annual Superannuation Benefit Occupational Superannuation Scheme Member Investment Election 11 PART IIIA VOLUNTARY CONTRIBUTION ACCOUNTS 6A. Establishment & Maintenance 12 6B. Member Investment Election 12 6C. Interest Credited 13 PART IIIB PENSION ACCOUNTS 6D Establishment & Maintenance 14 6E Member Investment Election 15 6F Interest Credited 15 PART IIIC RETAINED ACCOUNTS 6G Establishment & Maintenance 16 6H Member Investment Election 17 6I Interest Credited 18 PART IV - SUPERANNUATION BENEFITS 7. Retirement Resignation, Dismissal and Voluntary Separation Retrenchment 21 9A. Disability Income Benefit Termination of employment on Invalidity Death of Member 24 11A. Payment of Voluntary Contributions Account 25 11AA Additional Benefit 25 11B. Insurance Offset 26

14 11C. Self-Insurance of Benefits 27 11CA. Terminal Medical Condition Benefit 27 xiv PART IVA SPOUSE SUPERANNUATION 11D. Application 29 11E Spouse Membership 29 11F. Contributions and Roll-Overs 29 11G. Spouse Contribution Account 30 11H. Spouse Member Investment Election 30 11I. Interest Credited 31 11J Administration Expenses and Insurance Cost 31 11K. Payment of Spouse Contribution Account 31 11L. Additional Benefit on Death 33 PART IVB PENSIONS 11M Account Based Pension 34 11N Transition to Retirement Pension 35 PART IVC RETAINED BENEFITS 11O Retained Benefits 37 11OA Insurance 37 11P Payment of Retained benefits 40 11Q Temporary Incapacity Benefit 40 PART V - MISCELLANEOUS 12. Beneficiaries of Benefits on Death (deleted) Power to Obtain Information Payments in Foreign Currency Rounding off of Benefits Portability 43

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