Document ID: chunk:federal_register_of_legislation:F2015L00810:body:0:p5
Version: federal_register_of_legislation:F2015L00810
Segment Type: other
Provision Reference: 
Character Range: 12291–15343

matters including the flow of defined benefit interests. Information reported in SRF 160.1 is required primarily for prudential and publication purposes.

Reporting level

SRF 160.1 must be completed for each defined benefit RSE and sub-fund.

For each defined benefit RSE, report information relating to defined benefit members not accounted for in a defined benefit sub-fund and defined benefit members in a sub-fund.

Reporting basis and unit of measurement

Report all items on SRF 160.1 in accordance with the Australian Accounting Standards unless otherwise specified.

Items on SRF 160.1 must be reported as at the end of the reporting period or with respect to transactions that occurred during the reporting period. Report information with respect to transactions occurred during the reporting period on a year to date basis, rather than for the individual quarter alone.

Items on SRF 160.1 are to be reported as thousands of dollars, as whole numbers or percentages. Report percentages as a whole number to one decimal place, i.e. 10 per cent is to be reported as 10.0.

These instructions specify the reporting 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.

Estimate of vested benefits

Item 1 collects liabilities and net assets underlying the financial position of the defined benefit RSE or sub-fund, as appropriate.

Reporting basis: report item 1 as at the end of the reporting period.

Unit of measurement: report item 1 column 1 and item 1 column 2 as thousands of dollars; report item 1 column 3 as a percentage to one decimal place.

Item 1                                                           Report defined benefits interests in item 1.1. Report an estimate of the vested benefits in relation to defined benefit interests of defined benefit members only in item 1 column 1 and net assets available for members' benefits (net of ORFR reserves) in relation to defined benefit interests in item 1 column 2.

                                                                 Item 1 column 3 is a derived item. Report the vested benefit index in item 1 column 3 as net assets available for member benefits (net of ORFR reserves) reported in item 1 column 2 divided by the vested benefits reported in item 1 column 1.

Estimate                                                         Represents an estimate of vested benefits, which may or may not have been prepared by the actuary of the RSE.

Vested benefits                                                  Represents the benefit payable to a member of an RSE if the member voluntarily terminated service with their employer and/or withdrew membership from the RSE. Includes: allowances for any options the member could exercise where the option is consistent with the funding calculation. Reference: SIS Act, s. 83A.

Defined benefit interests                                        Represents a member interest that is a defined