University of Melbourne Administrators of the Melbourne College of Advanced Education MCAE Staff Superannuation Scheme

Description

Agent TypeOrganisationHistoryPrevious Control Number: UA325 The Council of the Melbourne College of Advanced Education MCAE established a superannuation fund to provide superannuation benefits to its employees who become members of that scheme and their dependents.

The Administrators of the scheme were:
the Director of the College;
a member of the full time academic staff of the College who is a contributor to the Scheme, and who is appointed by the Council;
the Secretary to the Council for the time being or other person nominated by the Council as holding a similar office in the administration of the affairs of the Council;
a member of the Council appointed by the Council.

The Administrators were responsible for the management of the Scheme and the Staff Superannuation Fund. They were required to consult a qualified actuary before acting on any matter involving actuarial considerations.

The Administrators had to create and keep proper accounts and records of the Fund and prepare statements of the receipts and payments of the Fund and its assets and liabilities each calendar year. These statements had to be submitted for audit within three months of the date they were prepared.

The Administrators were required to invest the monies held under the Fund in securities authorised by law.

They had the power to make agreements with Universities or other education or research institutions for the setting up of joint machinery to facilitate the transfer of Members from a superannuation scheme controlled by one such body to a superannuation scheme controlled by another.

They also had to ensure that taxes were deducted and remitted on contributions to the Fund income or other taxable gains of the Fund and on benefits payable from the Fund and remit deducted taxes to the responsible authorities.

(further details in the Trust Deed TRIM Document 7063 as to the role of the Administrators).

The Scheme was wound up at the end of 1994.

Series

Dates

Date1988-1994

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University of Melbourne Administrators of the Melbourne College of Advanced Education MCAE Staff Superannuation Scheme