Document ID: chunk:federal_register_of_legislation:F2015L01291:body:0:p11
Version: federal_register_of_legislation:F2015L01291
Segment Type: other
Provision Reference: 
Character Range: 28522–31725

23.3.

                                        For a defined benefit member that has both defined benefit members' benefits and defined contribution members' benefits, report the portion that is attributed to that member's defined benefit members' benefits in item 23.2 and the portion that is attributed to that member's defined contribution members' benefits in item 23.1. Otherwise, where the last triennial review has been adopted in accordance with Australian Accounting Standards, report the value of that member's defined benefit members' benefits and defined contribution members' benefits in accordance with the last triennial review.

                                        Report liability for members' benefits in respect of a PST in item 23.1. Do not complete item 23.2 and item 23.3 in respect of a PST.

Liability for members' benefits         Represents the present obligation to members and beneficiaries for benefits they are entitled to receive in the future as a result of membership of the RSE. Excludes: reserves. Reference: Australian Accounting Standards.

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 24                        Item 24 is a derived item. Report surplus/deficit in net assets in item 24 as net assets available for members' benefits reported in item 21 minus the sum of total reserves reported in item 22.2 and total liability for members' benefits reported in item 23.

                               Report a surplus as a positive number, and a deficit as a negative number.

Surplus/deficit in net assets  Represents the excess/deficiency in net assets available for members' benefits against total liability for members' benefits. Excludes: reserves, unallocated contributions. Reference: Australian Accounting Standards.

Fund balance for levies

Item 25 collects information to assist the annual determination of APRA's supervisory levies. Item 25 must only be reported in the annual return; otherwise leave item 25 blank.

Reporting basis: Report item 25 as at 30 June.

Item 25            If an RSE has a balance date of 30 June, report the value of net assets available for members' benefits of the RSE, as at 30 June, in item 25.1; otherwise, leave item 25.1 blank. For the purposes of this item, the value reported must equal the audited net assets available for members' benefits reported in item 21.

                   If an RSE has a balance date of 30 June, and the assets of the RSE consist entirely of