Document ID: chunk:federal_register_of_legislation:F2017L00730:body:0:p5
Version: federal_register_of_legislation:F2017L00730
Segment Type: other
Provision Reference: 
Character Range: 11330–14437

item 4 inclusive collect the change in member accounts and corresponding value of members' benefits. Do not report where member interests in an existing account are transferred to a new type of account within an RSE.

Reporting basis: report item 1 as at the beginning of the reporting period; report item 2 and item 3 with respect to events that occurred during the reporting period; report item 4 as at the end of the reporting period.

Unit of measurement: report column 1 as a whole number; report column 2 as thousands of dollars.

Item 1                                  Report the number and value of members' benefits of member accounts at the beginning of the reporting period in item 1 column 1 and item 1 column 2, respectively.

                                        Report item 1 as equal to member accounts at the end of the reporting period reported in item 4 of the preceding reporting period, for column 1 and column 2 respectively.

                                        Report the value of members' benefits in column 2 as the sum of defined contribution members' benefits and defined benefit members' benefits. Do not include unallocated contributions.

Member account                          Represents a distinct entry recorded in the register of member accounts (or other equivalent mechanism).

Defined contribution members' benefits  Represents the present obligation to pay benefits to defined contribution members and beneficiaries. Reference: Australian Accounting Standards.

Defined benefit members' benefits       Represents the present value of expected future benefit payments to defined benefit members and beneficiaries arising from membership, measured using actuarial assumptions and valuations where appropriate. The concept of defined benefit members' benefits aligns with the concept of 'defined benefit member liabilities' as defined in Australian Accounting Standards.

Unallocated contributions               Represents contributions received but not yet allocated to specific member accounts or reserves. Reference: Australian Accounting Standards.

Item 2                    Report the number of new member accounts in item 2 column 1. Report the portion of new member accounts reported in item 2 column 1 which are due to rollovers paid into the RSE, in item 2.1 column 1 and the portion which are due to successor fund transfers in item 2.2 column 1.

                          If the amount of the rollover or successor fund transfer has not yet been transferred, but a new account has been set up or opened, report the new account under item 2.1 or item 2.2, as appropriate.

Rollover                  Represents an amount that is transferred between superannuation funds, approved deposit funds, deferred annuities or retirement savings accounts. Excludes: successor fund transfers. Reference: SIS Regulations, r. 5.01, r. 6.28 and 6.29.

Successor fund transfer   Represents a transfer of a member's benefits without the member's consent from one RSE to a successor fund within the meaning given in r. 1.03 of the SIS Regulations. Reference: SIS