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  • CRT Alert 008/2016

    The Treasury Laws Amendment (2016 Measures No.1) Regulation 2016 has passed

    Background

    The Treasury Laws Amendment (2016 Measures No.1) Regulation 2016 has passed.

    Within this Regulation are changes to the Superannuation Industry (Supervision) Regulations 1994 which aim to ensure that members who interact with their superannuation fund through contemporary means of communication such as email and online interactions, are not inadvertently deemed to be lost members.

    Note that the following two changes which were announced within the 2015-2016 Federal Budget were not included in the regulation and will not be proceeding at this time:

    • Allow Eligible Rollover Funds to proactively consolidate accounts they hold into the active superannuation accounts of members without their consent
    • Remove the 'employer-sponsored' member rule for lost inactive members

    The Regulation can be found through the following link:

    Treasury Laws Amendment (2016 Measures No.1) Regulation 2016 F2016L00156External Link

      Last modified: 25 Nov 2016QC 50609