Splitting of benefits under the Family Law Act 1975
65 Splitting of benefits under the Family Law Act 1975
To avoid doubt, this Act has effect subject to Parts VIIIB and VIIIC of the Family Law Act 1975 (which deal with splitting and temporarily withholding payments from a superannuation interest of a party to a marriage or de facto relationship that breaks down).
The rules may provide that, when a splitting agreement or splitting order is received by CSC in respect of a superannuation interest under this Act, the non‑member spouse is entitled to a benefit determined in accordance with the rules.
If the rules provide that the non‑member spouse is entitled to a benefit, the benefit of the member spouse is reduced in accordance with the rules, despite any provision of this Act outside this section.
The rules may make provision for the purposes of subsection (2) or (3) by reference to a decision of, or a method determined by, a Fellow or an Accredited Member of the Institute of Actuaries of Australia.
The rules may include any other provision that is related to, or consequential on, provisions referred to in subsection (2) or (4) or reductions under subsection (3).
This Act’s bill:Explanatory memorandumSecond reading speech
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