Document ID: chunk:federal_register_of_legislation:F2015L00824:body:0:p5
Version: federal_register_of_legislation:F2015L00824
Segment Type: other
Provision Reference: 
Character Range: 11745–14934

basis and unit of measurement that applies to each item.

Specific instructions

Terms highlighted in bold italics indicate that the definition is provided in these instructions.

Member account movement

Item 1 to item 4 inclusive collects the change in member accounts and corresponding value of members' benefits.

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 with a MySuper interest 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 defined contribution members' benefits that are MySuper interests in column 2. Do not include defined benefit members' benefits or 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. Include only those member accounts that did not exist in the register of member accounts at the beginning of the reporting period.

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

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 Regulations, r. 6.29.

Item 3  Report