Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p47
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 119048–121599

income stream that is in the retirement phase; or
 (ii) the purchase of 1 or more annuities under the SIS Regulations, each of which is a superannuation income stream that is in the retirement phase.
Note: For the cashing requirement applying on the death of the RSA holder, see regulation 4.24.
 (3A) If an RSA holder dies on or after 1 July 2007, subparagraphs (3)(b)(i) and (ii) apply to an entitled recipient only if, at the time of the RSA holder's death, the entitled recipient:
 (a) is a dependant of the RSA holder; and
 (b) in the case of a child of the RSA holder:
 (i) is less than 18 years of age; or
 (ii) being 18 or more years of age:
 (A) is financially dependant on the RSA holder and less than 25 years of age; or
 (B) has a disability of the kind described in subsection 8(1) of the Disability Services Act 1986.
 (3B) If benefits in relation to a deceased RSA holder are being paid to a child of the deceased RSA holder in the form of a pension in accordance with subregulation (3A), the benefits must be cashed as a lump sum on the earlier of:
 (a) the day on which the pension is commuted, or the term of the pension expires (unless the benefit is rolled over to commence a new annuity or pension); and
 (b) the day on which the child attains age 25;
unless the child has a disability of the kind described in subsection 8(1) of the Disability Services Act 1986 on the day that would otherwise be applicable under paragraph (a) or (b).
 (4) For the purposes of subregulation (1), it is sufficient if, instead of being cashed, the benefits are rolled over as soon as practicable for immediate cashing.

4.25  Effect of rollover or transfer on post‑65 employer‑financed benefits
  Benefits of an RSA holder that were post‑65 employer‑financed benefits in the source from which they were received continue to be post‑65 employer‑financed benefits in that RSA.

4.26  Limitation on cashing of benefits in favour of persons other than RSA holders or their legal personal representatives
 (1) Subject to subregulation (1A) and regulations 4.27, 4A.24 and 4A.28, an RSA holder's interest in an RSA must not be cashed in favour of a person other than the RSA holder or the RSA holder's legal personal representative:
 (a) unless:
 (i) the RSA holder has died; and
 (ii) the conditions of subregulation (2) or (3) are satisfied; or
 (b) unless the conditions of subregulation (4) or (5) are satisfied.
 (1A) Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes