Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p13
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 31443–34008

excluded from being lost.
 (4) Subregulations (1), (2) and (3) also apply to a person who is a non‑member spouse in relation to an RSA interest that is subject to a payment split as if the person were an RSA holder.
Note: If a lost RSA holder is transferred to a superannuation entity or an EPSSS, the RSA provider must supply certain information about the RSA holder to the trustee of the superannuation entity or the EPSSS (see regulation 7.9.82 of the Corporations Regulations 2001).
 Becoming a lost RSA holder may also have consequences regarding the information to be supplied to the RSA holder (see regulation 7.9.60A of, and Part 14 of Schedule 10A to, the Corporations Regulations 2001).

1.07  Meaning of pension—section 16 of the Act
 (1) A benefit is taken to be a pension for the purposes of the Act if it is provided under terms and conditions of an RSA that:
 (a) meet the standards of subregulation (3D); and
 (b) do not permit the capital supporting the pension to be added to by way of contribution or rollover after the pension has commenced; and
 (c) meet the standards of regulation 1.08A.
 (1A) A benefit that commenced to be paid before 20 September 2007 is taken to be a pension for the purposes of the Act if it is provided under terms and conditions of an RSA that meet the standards of subregulation (2) or (3A).
 (1B) A benefit that commenced to be paid on or after 20 September 2007 is taken to be a pension for the purposes of the Act if:
 (a) the benefit arises under terms and conditions of an RSA that meet the standards of:
 (i) subregulation (3A); and
 (ii) subregulation (3D); and
 (b) the benefit was purchased with a rollover superannuation benefit that resulted from the commutation of:
 (i) an annuity provided under a contract that meets the standards of subregulation 1.05(2), (9) or (10) of the SIS Regulations; or
 (ii) a pension provided under rules that meet the standards of subregulation 1.06(2), (7) or (8) of the SIS Regulations; or
 (iii) a pension provided under terms and conditions of an RSA that meet the standards of subregulation (3A).
 (2) Terms and conditions of an RSA meet the standards of this subregulation if they at least ensure that:
 (a) the pension is not able to be transferred to a person other than a reversionary beneficiary on the death of the primary beneficiary or of another reversionary beneficiary; and
 (b) the capital value of the pension, and the income from it, cannot be used as security for a borrowing; and
 (c) payments are made at least once in each financial year; and
 (d) for