Document ID: chunk:federal_register_of_legislation:F2017L00728:body:0:p8
Version: federal_register_of_legislation:F2017L00728
Segment Type: other
Provision Reference: 
Character Range: 19384–22591

of members' benefits paid into the SAF or SMADF.

                              Where 'operational risk financial requirement trustee capital surplus distributed to member accounts' will be reported in item 10.1 of Reporting Form SRF 114.0 Operational Risk Financial Requirement for the annual reporting period, include the amount that relates to this SAF or SMADF in item 8.

                              Report the portion of total members' benefits flows into the SAF or SMADF which is employer contributions in item 8.1, the portion which is member contributions in item 8.2 and the portion which is defined benefit contributions in item 8.3.

Members' benefits flows       Represents members' monies paid into or out of the entity.

Employer contribution         Represents contributions made by an employer on behalf of the member. Includes: employer contributions made to an accumulation account on behalf of members to meet super guarantee, award or other obligations, contributions paid as a result of a salary sacrifice arrangement, transfers from consolidated revenue funds for EPSSSs and constitutionally protected funds, and super guarantee charge and the taxable component of any super holding accounts special account amounts which the ATO transferred to the provider on behalf of the member. Reference: Member Contribution Statement.

Member contribution           Represents contributions made by a member including non excluded capital gains or capital proceeds and personal injury payments, direct termination payments, other third party contributions (low income super tax offsets, government co-contributions and other family and friend contributions) and other contributions made by a person other than the employer. Reference: Member Contribution Statement.

Defined benefit contribution  Represents contributions made in respect of a member interest that is a defined benefit interest. Reference: SIS Regulations, r. 1.03AA.

Item 9                            Report total members' benefits flows out of the SAF or SMADF in item 9 as the total of benefit payments, rollovers, successor fund transfers, repatriation to employer sponsors and other types of members' benefits paid out of the SAF or SMADF.

                                  Report the portion of total members' benefits flows out of the SAF or SMADF which are benefit payments in item 9.1 and the portion which is repatriation to employer sponsor in item 9.2.

Benefit payment                   Represents lump sum benefit payments and pension benefits paid directly to members. Includes: insurance claim benefits or proceeds first credited to members' accounts and subsequently disbursed along with members' benefits to the member or beneficiary. Excludes: rollovers and successor fund transfers. Reference: SIS Regulations, Divisions 6.2 and 6.3; Superannuation Industry (Unclaimed Money and Lost Members) Act 1999, Part 4A.

Repatriation to employer sponsor  Represents where member benefits are paid back to employer sponsors that were originally received from employer sponsors either in the form of contributions or amounts associated with the redemption of fund assets. Excludes: amounts paid back to employer