Document ID: chunk:federal_register_of_legislation:F2025L00178:reg:120:p1
Version: federal_register_of_legislation:F2025L00178
Segment Type: reg
Provision Reference: reg 120 (pt 1/2)
Character Range: 284704–287530

120  Specific information—the interest is in the payment phase and the member is receiving ongoing pension payments
 (1) For the purposes of paragraph 119(1)(f), the payment phase information for the superannuation interest is:
 (a) if the ongoing pension payments in respect of the interest are in respect of an allocated pension—the withdrawal benefit for the member at the appropriate date; and
 (b) if the ongoing pension payments are in respect of a market linked pension—the market linked pension account balance at the appropriate date; and
 (c) in any other case:
 (i) the amount of annual pension benefit payable to the member at the appropriate date; and
 (ii) a statement indicating whether the pension benefit is a lifetime pension or a fixed‑term pension; and
 (iii) if the pension is a fixed‑term pension—the date when the pension payments commenced, and the length of the fixed term; and
 (iv) a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and
 (v) a statement indicating whether there is any reversionary beneficiary who is a non‑member spouse in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member; and
 (d) if the application for information specifically requests the trustee to provide it and the trustee chooses to do so—the gross value of the interest at the appropriate date, determined in accordance with a method or factors approved by the Minister under section 70.
Note: The trustee is not required to provide the information mentioned in paragraph (a) or subparagraph (c)(i) unless a record of it is in the trustee's possession, power or control (see paragraph 125(1)(b)).
 (2) If:
 (a) paragraph (1)(d) applies to the application for information about the superannuation interest; and
 (b) the trustee, in response to the application:
 (i) provides the gross value of the interest at the appropriate date, determined in accordance with a method or factors approved by the Minister under section 70; but
 (ii) does not provide sufficient information to enable the applicant to check whether that gross value of the interest has been correctly determined in accordance with the approved method or factors; and
 (c) the applicant makes a further application that complies with subsection 90XZB(3) or 90YZR(3) of the Act for specific underlying valuation information for the interest;
then, for the purposes of subsection 90XZB(3) or 90YZR(3) of the Act, that specific underlying valuation information is information that must be provided by the trustee in response to the further application within a reasonable time.
Note: For paragraph (c), section 90XZB or 90YZR of the Act does not prevent the applicant from making further