Document ID: chunk:federal_register_of_legislation:F2023L00717:body:0:p15
Version: federal_register_of_legislation:F2023L00717
Segment Type: other
Provision Reference: 
Character Range: 54000–57911

PRP due to interim and terminal bonus paid.                                                                                                                                                                                    This is the amount, if any, allocated to EFCF (PRP portion) due to interim and terminal bonus paid.

           Interim and terminal bonus is recognised as both an allocation of profit (reported in this item) and a distribution of profit (reported in item L11.1).                                                                                                                 Allocating a policyholder profit increases EFCF (PRP portion).

           Allocating a policyholder profit increase Life Act PRP.
Item L5.2  Report profits that are added to Life Act SRPP and Life Act SRP (overseas par) in respect of interim and terminal bonuses.

           This is profits that decrease VSA and are added to Life Act SRPP and Life Act SRP (overseas par) over the period in respect of interim and terminal bonuses (i.e. corresponding to the interim and terminal bonus outflow reported in L2.2, L2.3 and L2.4).

           Releasing shareholder profit decreases VSA.
Item L5.3  Report allocation to Life Act SRPP and Life Act SRP (overseas par) due to L5.2.

           This is the amount allocated to Life Act SRPP and Life Act SRP (overseas par) due to L5.2.

           Allocating a shareholder profit increases Life Act SRPP and Life Act SRP (overseas par).

6. Impact of non-investment experience profit and experience adjustments

Item L6.1  Report non-investment experience (profit) / loss.                                                                                                                                                                                   Item A6.1  Report experience adjustments.

           This is the (decrease) / increase in the VSA that corresponds to non-investment experience profit / loss.                                                                                                                                      This is the (decrease) / increase in EFCF (non-PRP portion) and RA corresponding to favourable / unfavourable experience adjustments. If the experience adjustments impact CSM, show the corresponding increase / (decrease) in CSM in the relevant column(s).

           This item includes tax-related experience items (i.e. tax expense being better or worse than expected).                                                                                                                                        This item includes tax-related experience adjustments (i.e. tax expense being better or worse than expected).

           A non-investment experience profit decreases VSA (e.g. if expected expenses are higher than actual expenses, the tax-effected difference is released from the VSA so that the amount will be recognised as an experience profit).              Favourable experience adjustments decrease EFCF (non-PRP portion) and RA. Where the experience adjustments impact CSM, favourable experience increases CSM.
Item L6.2  Report allocation to Life Act PRP, Life Act SRPP and Life Act SRP (overseas par) due to L6.1.                                                                                                                                       Item A6.2  Report allocation to EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par) due to A6.1.

           This is the amount of the experience profit / (loss) allocated to Life Act PRP, Life Act SRPP and Life Act SRP (overseas par) due to L6.1.                                                                                                     This is the experience adjustment amount allocated to EFCF (PRP portion), AASB 17 SRPP and AASB 17 SRP (overseas par) due to A6.1. This item is only relevant if the experience adjustments do not adjust