6.16A
CurrentWhen non‑preserved benefits may be reduced
Volume 1Parts 1 to 14 (regulations 1.01 to 14.39)
Part 6Payment standards
Division 6.1Introductory
Subdivision 6.1.5Miscellaneous
6.16A When non‑preserved benefits may be reduced
(1)
This regulation applies if, on or after 1 July 1999, the amount of a negative investment return for a period after 30 June 1999 to be debited against a member’s benefits is more than the amount of the member’s preserved benefits.
(2)
The negative investment return must be debited in the following order:
(a)
first, against the member’s preserved benefits; and
(b)
second, against the member’s restricted non‑preserved benefits; and
(c)
third (if required), against the member’s unrestricted non‑preserved benefits.
This Act’s bill:Explanatory statement
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