Trustee voluntary payments (TVPs) are payments made for a member, former member or non-member spouse where the trustee reasonably believes paying the amount to us would be in the best interest of the person.
This excludes amounts that another provision of the Superannuation (Unclaimed Money and Lost Members) Act 1999 (SUMLMA) requires you to pay to us.
You need to consider a range of factors when considering whether transferring an amount to us would be in the person’s best interests.
Let the member know before you make a TVP and do what you reasonably can to give them notice. This allows them time to provide alternative instructions before any amounts are transferred to us.
For more information on TVP, see additional unclaimed super requirements and Unclaimed superannuation money protocol.
Looking for the latest news for Super funds? You can stay up to date by visiting our Super funds newsroom and subscribingExternal Link to our monthly Super funds newsletter and CRT alerts.