Specific requirements in all cases
7.9.54 Specific requirements in all cases
For paragraph 1017D(5)(g) of the Act, if a reporting period is the exit reporting period, the issuer of a superannuation product (other than the trustee of a self managed superannuation fund or pooled superannuation trust) must include in the periodic report given to a person who ceases, otherwise than by death to hold the product:
the information mentioned in regulation 7.9.19; and
in relation to a death or disability benefit that ceases or reduces, because the person has ceased to hold the product:
either:
the amount of the death or disability benefit immediately before the person ceased to hold the product or at the end of the last reporting period; or
the method of working out the death or disability benefit; and
whether a continuation option is available to the person and, if it is, details of the option, a contact person who is available to discuss the option and a telephone number for the contact person.
This Act’s bill:Explanatory statement
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