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Financial Markets Authority Act 2011

Financial Markets Authority - Miscellaneous matters

21: Provisions relating to Government Superannuation Fund

You could also call this:

“Rules for FMA workers using the Government Superannuation Fund”

If you are working for the Financial Markets Authority (FMA) and were contributing to the Government Superannuation Fund before joining the FMA, you can keep contributing to the fund. The Government Superannuation Fund Act 1956 will treat your work at the FMA as if you were still working for the government.

You can continue to be part of the Government Superannuation Fund for as long as you work for the FMA. However, if you stop contributing to the fund, you can’t start contributing again later. This rule follows what the Government Superannuation Fund Act 1956 says.

When dealing with the Government Superannuation Fund for FMA members or employees, the FMA is considered the “controlling authority”. This means the FMA is in charge of handling matters related to the fund for its staff who are contributors.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231084.

Topics:
Money and consumer rights > Savings and retirement Government and voting > Government departments
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Part 2 Financial Markets Authority
Miscellaneous matters

21Provisions relating to Government Superannuation Fund

  1. Despite anything in this Act, any person who, immediately before becoming a member or an employee of the FMA, is a contributor to the Government Superannuation Fund under Part 2 of the Government Superannuation Fund Act 1956 must be treated, for the purposes of that Act, as being employed in the Government service so long as he or she continues to be a member or an employee of the FMA.

  2. The Government Superannuation Fund Act 1956 applies to a person referred to in subsection (1) in all respects as if his or her service as a member or an employee of the FMA were Government service.

  3. Nothing in this section entitles any person referred to in subsection (1) to become a contributor to the Government Superannuation Fund after he or she has once ceased to be a contributor.

  4. Subsection (3) is subject to the Government Superannuation Fund Act 1956.

  5. For the purposes of applying the Government Superannuation Fund Act 1956, in accordance with this section, to a person who is in the service of the FMA (whether as a member or an employee) and who is a contributor to the Government Superannuation Fund, controlling authority, in relation to the person, means the FMA.

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