A superannuation fund trustee may lawfully amend a trust deed to distribute surplus to both members and employers, provided the requirements of s 117 of the SIS Act are met and the payment to the employer is part of a package that, in the trustee's reasonable opinion, benefits members. The word 'member' in s 62(1) of the SIS Act includes former members, so distributions to former members do not contravene the core purposes requirement. The s 52(2)(c) covenant to act in the best interests of beneficiaries does not preclude payments to employers where such payments are part of a package benefiting members. The entitlement of former employers to a share of surplus remains uncertain in Australian law.
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