Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2019 (F2019L01641)

Schedule 5   Superannuation

Part 4   Life expectancy period

Superannuation Industry (Supervision) Regulations 1994

9   Subregulation 1.03(1) (definition of life expectancy period)

Repeal the definition, substitute:

life expectancy period , for a benefit supported by a superannuation interest (within the meaning of the 1997 Tax Act), means the number of days in the complete expectation of life (as worked out using the prescribed Life Tables) on the retirement phase start day for the benefit of:

(a) if the primary beneficiary of the benefit is alive on the retirement phase start day for the benefit - the primary beneficiary; or

(b) otherwise - the person (if any) to whom the benefit was transferred because of the primary beneficiary's death, if at the time of that death the person was eligible under paragraph 6.21(2)(b) to be paid a benefit.