Superannuation Industry (Supervision) Regulations 1994


Division 6.3 - Cashing of benefits  

Subdivision 6.3.1 - Regulated superannuation funds  



Subject to subregulation (3), a member ' s benefits in a regulated superannuation fund must be cashed as soon as practicable after the member dies.

(Repealed by SLI No 74 of 2007)

The form in which benefits may be cashed under this regulation is any one or more of the following forms:

(a) in respect of each person to whom benefits are cashed:

(i) a single lump sum; or

(ii) an interim lump sum (not exceeding the amount of the benefits ascertained at the date of the event mentioned in subregulation (1)) and a final lump sum (not exceeding the balance of the benefits as finally ascertained in relation to the event);

(b) subject to subregulations (2A) and (2B):

(i) 1 or more pensions, each of which is a superannuation income stream that is in the retirement phase;

(ii) the purchase of 1 or more annuities, each of which is a superannuation income stream that is in the retirement phase.

(c) (Repealed by SLI No 74 of 2007)


If a member dies on or after 1 July 2007, subparagraphs (2)(b)(i) and (ii) apply to an entitled recipient only if, at the time of the member ' s death, the entitled recipient:

(a) is a dependant of the member; and

(b) in the case of a child of the member:

(i) is less than 18 years of age; or

(ii) being 18 or more years of age:

(A) is financially dependent on the member and less than 25 years of age; or

(B) has a disability of the kind described in subsection 8(1) of the Disability Services Act 1986 .


If benefits in relation to a deceased member are being paid to a child of the deceased member in the form of a pension or an annuity in accordance with subregulation (2A), the benefits must be cashed as a lump sum on the earlier of:

(a) the day on which the annuity or pension is commuted, or the term of the annuity or pension expires (unless the benefit is rolled over to commence a new annuity or pension); and

(b) the day on which the child attains age 25;

unless the child has a disability of the kind described in subsection 8(1) of the Disability Services Act 1986 on the day that would otherwise be applicable under paragraph (2B)(a) or (b).


For the purposes of subregulation (1), it is sufficient if, instead of being cashed, the benefits are rolled over as soon as practicable for immediate cashing.

(Repealed by SLI No 74 of 2007)

(Repealed by SLI No 74 of 2007)

(Repealed by SLI No 74 of 2007)

(Repealed by SLI No 74 of 2007)


Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.