Document ID: chunk:federal_register_of_legislation:F2015L00810:body:0:p9
Version: federal_register_of_legislation:F2015L00810
Segment Type: other
Provision Reference: 
Character Range: 24682–27806

3 gross of transfer into reserve reported in column 2.

                         Report earnings on reserve in column 3 and loss on reserve in column 5 as a positive number.

ORFR reserve             Represents the reserve held within an RSE within the RSE licensee's business operations for the purposes of meeting the operational risk financial requirement. An ORFR reserve must be separately identifiable from member accounts and reserves held in the RSE for other purposes. Reference: Prudential Standard SPS 114 Operational Risk Financial Requirement.

Investment reserve       Represents the difference between the cumulative value of investment income (net of investment expenses) allocated to members' accounts compared to the cumulative investment income (net of investment expenses) earned. Includes: investment fees deducted from members accounts but not yet allocated for payment of investment related expenses.

Self-insurance reserve   Represents a reserve designated by the RSE licensee as being for the purposes of funding self-insurance arrangements.

Administrative reserve   Represents a reserve comprising the difference between the cumulative value of administration fees charged to members' accounts but not yet allocated for payment of administration costs.

Reserve                  Represents the portion of net assets available for members' benefits which is not total liability for members' benefits. Includes: reserves such as ORFR reserve, investment reserve and self-insurance reserve. Excludes: surplus/deficit in net assets, unallocated contributions that are not part of a formal reserve.

Transfer into reserve    Represents the total value transferred into a reserve resulting in an increase in the reserve.

Transfer out of reserve  Represents the total value transferred out of a reserve resulting in a decrease in the reserve.

Earnings on reserve      Represents the total value earned via investing the amount held in a reserve.

Loss on reserve          Represents the total value of loss via investing the amount held in a reserve.

Interpretation

For the purposes of these instructions:

     * defined benefit member has the meaning given in SPS 160;

     * defined benefit RSE means an RSE that is a defined benefit fund within the meaning given in SPS 160;

     * RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act;

     * RSE licensee has the meaning given in section 10(1) of the SIS Act;

     * SGA Act means the Superannuation Guarantee (Administration) Act 1992;

     * SIS Act means Superannuation Industry (Supervision) Act 1993;

     * SIS Regulations means Superannuation Industry (Supervision) Regulations 1994;

     * SPS 160  means Prudential Standard SPS 160 Defined Benefit Matters; and

     * sub-fund means a defined benefit sub-fund within the meaning given in SPS 160.

    [1]  For the purposes of this Reporting Standard, an 'RSE licensee's business operations' includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities