News Archive
Investment Update
Family Law Act Amendments
Changes to Member Investment Choice
Changes to Minimum Pension Drawdown
April 2009
An investment update has been prepared to provide information and address some of the questions fund members have asked during the recent volatility across investment markets. To download the newsletter click here. If you would like a printed copy sent to you, please contact the Superannuation Office on 8901 4200 or ntsuperannuation@nt.gov.au.
April 2009
The Family Law Amendment (De Facto Financial Matters and Other Measures) Act 2008 came into effect on 1 March 2009. The new legislation updates the Family Law Act 1975 to provide for opposite-sex and same-sex de facto couples to access the federal family law courts on property and maintenance matters. The changes also include recognition of financial agreements between de facto couples and superannuation splitting where determined by court proceedings. The was previously only available to legally married couples of the opposite-sex.
As a result of these amendments, each of the schemes administered by the Superannuation Office have now been reviewed to ensure they align with the new amendments. Two schemes requiring minor amendments were the Northern Territory Supplementary Superannuation Scheme (NTSSS) and the Northern Territory Police Supplementary Benefit Scheme (NTPSBS). Amending instruments have now been finalised to insert new definitions of spouse, de factor partner and de facto relationship in both the NTSSS Instrument and the NTPSBS Trust Deed that align with the equivalent definitions in the Family Law Act 1975.
Consolidated versions of the NTSSS Instrument and the NTPSBS Trust Deed
have now been updated to reflect these minor amendments. Copies of the
updated documents are available on this website under the legislation tab or available from the following link:
http://www.nt.gov.au/ntt/super/legislation.shtml.
Member Investment Choice
March 2009 - New Managed Cash Option
You can now choose a very low risk option, that invests in cash, deposits, bank bills and similar securities.
Investment Mixing
You can now mix your investment by choosing one option for your current account balance and a different option for future contributions.
To view the fact sheets and switch forms click on the following links:
| Member Investment Choice Fact Sheet |
| The Managed Cash Option Fact Sheet |
| Pension Investment Switch Form |
| Member Investment Choice Switch Form |
NTGPASS Pension Members
February 2009 - Commonwealth announces pension drawdown relief for retirees.
The Commonwealth Government has announced that recipients of allocated pensions can reduce their minimum payment amount for the remainder of this financial year.
To view the media release click here
For further information, contact our member services team at the Superannuation Office on 1800 631 630 or (08) 8901 4200.