Document ID: chunk:federal_register_of_legislation:F2015L00824:body:0:p6
Version: federal_register_of_legislation:F2015L00824
Segment Type: other
Provision Reference: 
Character Range: 14686–17726

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 the number of closed member accounts in item 3. Include only those member accounts that were removed from the register of member accounts during the reporting period.

Item 4                                                        Report the number of member accounts in column 1 and value of MySuper interests in defined contribution members' benefits in column 2. Do not include defined benefit members' benefits or unallocated contributions.

                                                              Report the number of member accounts with a MySuper interest at the end of the reporting period in item 4 column 1.

                                                              Example: At the start of the reporting period, an RSE has 1000 accounts; 100 of these have a MySuper interest. During the reporting period: 5 new accounts are opened in the RSE with a MySuper interest; 3 accounts that had a MySuper interest are closed; 20 accounts that previously only had choice interests have a MySuper interest by the end of the reporting period; and 6 accounts that had a MySuper interest switch the entire balance into choice interests by the end of the reporting period. Thus, at the end of the reporting period there are: 100 + 5 – 3 + 20 – 6 = 116 accounts with a MySuper interest.

                                                              Report the value of MySuper interests in defined contribution members' benefits in item 4 column 2. Do not include defined benefit members' benefits or unallocated contributions.

                                                              Report the portion of member accounts at the end of the reporting period in item 4 that is attributable to a MySuper interest as a result of member investment choice in item 4.1 and the portion attributable to MySuper interest not as a result of member investment choice in item 4.2.

MySuper interest as a result of member investment choice      Represents a MySuper interest where the member exercised choice of investment option to direct any portion of their interest into the MySuper product. A direction may be given as an express investment instruction, a completed application form or a completed member investment choice form. Reference: SIS Act, s.10(1).

MySuper interest not as a result of member investment choice  Represents a MySuper interest where the member has not exercised choice of investment option to direct any portion of their interest into the MySuper product. Reference: SIS Act, s. 10(1).

Detailed member account segmentation

Item 5 collects member accounts and members' benefits by the categories of member age bracket, gender and members' benefit bracket.

Reporting basis: report item 5 as at the end of the reporting period.

Unit of measurement: report