Div 9.5 heading substituted by SLI No 155 of 2013, reg 4 and Sch 2 item 13, effective 1 July 2013. Div 9.5 heading formerly read:

Division 9.5 - Actuarial standards relating to defined benefit funds

Definition of " accrued benefits " substituted by SLI No 155 of 2013, reg 4 and Sch 2 item 15, effective 1 July 2013. The definition formerly read:

accrued benefits
, in relation to a member of a defined benefit fund, means the benefits to which the member has an absolute or potential entitlement at the valuation date on account of the length of time the member has been a member of the fund at that date (including any amount that would be payable out of those benefits to the member's spouse or former spouse under a payment split).

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History

Definition of " accrued benefits " amended by SR No 353 of 2001, reg 3 and Sch 1 item 47, by substituting " that date (including any amount that would be payable out of those benefits to the member's spouse or former spouse under a payment split). " for " that date. " , effective 28 December 2002.

Definition of " accrued benefits " amended by SR No 189 of 1994.

Definition of " fully-funded " repealed by SLI No 155 of 2013, reg 4 and Sch 2 item 16, effective 1 July 2013. The definition formerly read:

fully-funded
, in relation to a fund, means funded in advance in accordance with actuarial advice at a level that is reasonably expected by the actuary to be adequate to provide for present and prospective liabilities in respect of benefits relating to the fund.

Definition of " valuation date " substituted by SLI No 155 of 2013, reg 4 and Sch 2 item 17, effective 1 July 2013. The definition formerly read:

valuation date
, in relation to a defined benefit fund, means the date as at which an investigation required under regulation 9.29 was carried out in relation to the fund.