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  • Transfer balance cap reporting protocol

    Super providers can find guidance about transfer balance cap reporting and the associated reporting obligations in the Transfer balance cap reporting protocol.

    This chapter of the fund reporting protocol covers the specifics of reporting retirement phase events, the associated reporting of responses to commutation authorities and advising those details to members.

    The obligations for super providers are contained in the Superannuation (Unclaimed Money and Lost Members) Act 1999 (SUMLMA).

    The protocol:

    • provides technical guidance only and does not replace the law and is not binding
    • explains various key terms contained in the law
    • gives guidelines on practical administration and our perspective of industry best practice.

    The protocol was developed in collaboration with industry representatives. When acting on the guidance it provides you should:

    • take into account the individual circumstances of your members
    • decide whether your action is appropriate.

    In line with your obligations under s52(2) of the Superannuation Industry (Supervision) Act 1993 you should exercise your powers in the best interests of your members.

    Last modified: 12 Oct 2018QC 57002