Document ID: chunk:federal_register_of_legislation:F2015L00811:body:0:p7
Version: federal_register_of_legislation:F2015L00811
Segment Type: other
Provision Reference: 
Character Range: 19669–23053

reserve, other arrangement or both.

                          For each self-insurance arrangement, report in item 1.2:

                              * the insurance cover provided by insurance cover type. For each insurance cover type, report the member accounts in column 2, column 4, column 6 and column 8 respectively and the aggregate amount of insurance cover provided to those member accounts column 3, column 5, column 7 and column 9 respectively; and

                              * the monthly amount of cover for income protection insurance: aggregate cover.

                          The insurance cover types are: life insurance, total and permanent disability insurance, income protection insurance and other insurance.

                          Where a self-insurance arrangement is funded solely through self-insurance reserves and no premium payments are collected and no premiums paid to the RSE licensee, report the self insurance arrangement identifier in item 1.3 column 1 and report zero in columns 2 to 6 inclusive in respect of that self-insurance arrangement.

                          For each self-insurance arrangement, report in item 1.3:

                              * the value of insurance premium collected from member accounts in column 2;

                              * the value of insurance premium, gross of any insurance premium rebate, paid to the RSE licensee during the current reporting period that was: paid by the RSE in respect of the current reporting period column 3, paid by an employer-sponsor in respect of the current reporting period in column 4 and that was in respect of a previous reporting period in column 5; and

                              * the value of insurance premium rebate received from RSE licensee during the current reporting period in column 6.

Actuarial investigation   Represents an investigation undertaken by the RSE actuary. Reference: SIS Regulations, r. 9.27, r. 9.29; Prudential Standard SPS 160 Defined Benefit Matters.

Funding arrangement       Represents the arrangement that an RSE licensee has in place to fund self-insurance arrangements.

Self-insurance reserve    Represents a reserve designated by the RSE licensee as being for the purposes of funding self-insurance arrangements.

Other funding arrangement                                Represents a funding arrangement that is not a self-insurance reserves. Includes: where the actuary makes a regular assessment of accrued self-insured claims liability which is taken into account in determining contribution levels.

Recommended actuarial amount for self-insurance funding  Represents the amount of money that an actuary identifies as being necessary to fund a self-insurance arrangement such that the RSE licensee is able to pay claims made by members as and when they arise.

Actual self-insurance funding amount held                Represents the amount of money that is held within an RSE or defined benefit sub-fund for the purposes of funding a self-insurance arrangement.

Employer funded                                          Represents where money is specifically provided to an RSE or a defined benefit sub-fund by an employer sponsor. Excludes: contributions paid in compliance with super guarantee obligations.

Insurance cover                                          Represents the value of insurance coverage