Examples of Local Government Superannuation Scheme in a sentence
Council is party to an Industry Defined Benefit Plan under the Local Government Superannuation Scheme, named The Local Government Superannuation Scheme – Pool B (the Scheme) which is a defined benefit plan that has been deemed to be a ‘multi-employer fund’ for purposes of AASB119 Employee Benefits for the following reasons: – Assets are not segregated within the sub-group according to the employees of each sponsoring employer.
Council is party to an Industry Defined Benefit Plan under the Local Government Superannuation Scheme, named the “Local Government Superannuation Scheme – Pool B” This Scheme has been deemed to be a “multi employer fund” for the purposes of AASB 119.
Where employees are members of the Local Government Superannuation Scheme, which is a defined benefit pension scheme this is disclosed.
The cost of salaries and wages in the accounts includes deductions in respect of pension contributions (including Widows and Orphans) benefits under the Local Government Superannuation Scheme and the Single Public Service Pension Scheme.The Single Public Service Pension Scheme (“Single Scheme”) commenced with effect from 1 January 2013.
The table below shows the capitalised value of payments made during the year to former employees under the conditions of the Local Government Superannuation Scheme.