SCC minutes, June 2011

6. Other business

Successor funds

David Knox, Mercer raised the issue of successor funds. Neil Olesen advised that this was an item for the agenda at the NTLG Superannuation Technical Sub-group. Broadly, Neil discussed the history of the issue and while there is no guarantee of the outcome, Neil guaranteed that a proper process would be followed. Jocelyn Furlan, Superannuation Complaints Tribunal raised that group life insurance was part of the successor fund issue, complaints get received and to ensure that aspect of the issue is incorporated into the ATO thinking.

Rollovers

Andrea Slattery, SPAA provided some details of a rollover from a SMSF to an APRA fund where issues had been encountered due to the SMSF's status as 'not yet complying' due to first lodgment not yet occurring. Stuart Forsyth advised the ATO was pursuing from its angle, and Andrea undertook to provide details to APRA (John Dow).

Sections within Agenda items

• 1. Open and introductions
• 2. Stronger Super
• 3. Update on superannuation policy measures
• 4. Excess contributions tax
• 5. ATO Compliance program 2011-12
• 6. Other business