Corporations Regulations 2001

The trustee of a fund need not give a periodic statement or other information to a member:

in relation to any period during which the member is a life pensioner of the fund; or

if the member is a pensioner of the fund, and has requested that that information not be provided.

Subsection (8) does not apply to information mentioned in subregulation 7.9.21A(1) of the Corporations Regulations 2001.

If, at the end of a reporting period, a member of a regulated superannuation fund is a protected member, the trustee need give the member only the following information in the periodic statement for that reporting period:

the contact details of the fund;

either:

the amount of the member’s withdrawal benefit at the end of the reporting period; or

the total of the amounts that have been received by the fund in respect of the member;

in so far as applicable, the information mentioned in subregulation 7.9.21(1) of the Corporations Regulations 2001.

If, in relation to a member of a fund, the trustee of the fund takes advantage of subsections (12) to (15), the trustee must not, in relation to that member, take advantage of subsection (10).

If, at the end of a reporting period, the trustee of a fund has a reasonable expectation that a particular protected member will have a withdrawal benefit of at least $1 500 within 12 months after the end of that reporting period, the trustee need not show, in the periodic statement, the effect of the member‑protection standards.

For subsection (12), a trustee is not taken to have a reasonable expectation that a member will have a withdrawal benefit of at least $1 500 within the period of 12 months referred to in that subsection if termination of the member’s employment with a current employer (not being an employer who or that is an associate, within the meaning of paragraph 70(a) of the SIS Act, of the member) would be likely to result in the member’s withdrawal benefit being below $1 500 at the end of that period.

If, at the end of the 12‑month period, the member’s withdrawal benefit has not reached $1 500, the trustee must show, in the periodic statement provided to the member for each reporting period ending on or after the end of the 12‑month period, the effect of the member‑protection standards.

The trustee of a fund must not take advantage of subsection (12) in respect of a person more than once unless, after an occasion on which the trustee does so but before the next occasion, the member leaves and rejoins the fund.

In this section:

For the definition of protected member in subsection (16), a benefit in a fund is taken to contain or to have contained mandated employer‑financed benefits unless:

if the benefits arose in relation to contributions made before 1 July 1995—the trustee of the fund reasonably believes otherwise; or

if the benefits arose in relation to contributions made on or after 1 July 1995—the trustee of the fund knows otherwise.