Superannuation Industry (Supervision) Regulations 1994

PART 9 - FINANCIAL MANAGEMENT OF FUNDS  

Division 9.5 - Actuarial standards relating to defined benefit funds that are self-managed superannuation funds  

REGULATION 9.27   9.27   INTERPRETATION  


In this Division:

accrued benefits
, in relation to a member of a defined benefit fund or a defined benefit sub-fund:


(a) 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 or sub-fund; and


(b) includes any amount that would be payable out of the benefits mentioned in paragraph (a) to the member ' s spouse or former spouse under a payment split.

fully-funded
(Repealed by SLI No 155 of 2013)

new fund
means:


(a) any defined benefit fund established on or after 1 July 1994; or


(b) any fund converted on or after 1 July 1994 to a defined benefit fund;

in respect of which no previous actuarial report has been made.

valuation date
, in relation to a defined benefit fund or sub-fund, means the date on which an investigation required under regulation 9.29 or 9.29A was carried out in relation to the fund or sub-fund.




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