{"id":"F2019L01617","name":"Superannuation (Unclaimed Money and Lost Members) Regulations 2019","slug":"superannuation-unclaimed-money-and-lost-members-regulations-2019","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":100467,"registerId":"commonwealth-F2019L01617-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"## Part 1—Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Name","content":"#### 1 Name\n\n This instrument is the Superannuation (Unclaimed Money and Lost Members) Regulations 2019.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Authority","content":"#### 3 Authority\n\n This instrument is made under the Superannuation (Unclaimed Money and Lost Members) Act 1999.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Definitions","content":"#### 4 Definitions\n\n> Note: A number of expressions used in this instrument are defined in the Act, including the following:\n\n (a) Commissioner;\n (b) fund;\n (c) member;\n (d) superannuation provider.\n In this instrument:\n\n> Act means the Superannuation (Unclaimed Money and Lost Members) Act 1999.\n\n> CPI number means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Bureau of Statistics.\n\n> element untaxed in the fund has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997.\n\n> superannuation benefit has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997.\n\n> taxable component has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997.\n\n> Treasury bond rate, for a particular day, means:\n\n (a) if any Treasury bonds with a 10 year term were issued on that day—the annual yield on those bonds; or\n (b) otherwise—the annual yield on Treasury bonds with a 10 year term, as published by the Reserve Bank of Australia for that day.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Eligibility age","content":"#### 5 Eligibility age\n\n For the purposes of paragraphs 10(1)(a) and (b) of the Act, the prescribed age for a member of a fund is the greater of:\n (a) 65 years; and\n (b) if the governing rules of the fund specify that a benefit is payable to a member only at a specified age that is greater than 65 years—that age.","sortOrder":4},{"sectionNumber":"Part 2","sectionType":"part","heading":"Information to be included in notices","content":"## Part 2—Information to be included in notices","sortOrder":5},{"sectionNumber":"6","sectionType":"section","heading":"Recovery of overpayments","content":"#### 6 Recovery of overpayments\n\n (1) For the purposes of paragraphs 18B(4)(a), 20L(4)(a), 20QK(4)(a), 21G(3)(a), 22E(3)(a), 24K(4)(a) and 24NAA(4)(a) of the Act, a notice must include the following information:\n (a) the name of the person in respect of whom the Commissioner made the payment;\n (b) the name of the debtor;\n (c) the amount of the excess payment that is sought to be recovered from the debtor;\n (d) a statement that the Commissioner may recover that amount from the debtor as a debt due by the debtor to the Commonwealth 28 days after the notice is given to the debtor.\n (2) In this section:\n\n> debtor has the same meaning as in the section of the Act under which the notice is given.","sortOrder":6},{"sectionNumber":"Part 3","sectionType":"part","heading":"Prescribed visas","content":"## Part 3—Prescribed visas","sortOrder":7},{"sectionNumber":"7","sectionType":"section","heading":"Temporary residents—prescribed visas","content":"#### 7 Temporary residents—prescribed visas\n\n For the purposes of subsection 20AA(2) and subparagraphs 20H(1)(a)(ii) and 20H(2)(b)(iii) of the Act, the following visas, as described in Schedule 2 to the Migration Regulations 1994, are prescribed:\n (a) Subclass 405 (Investor Retirement) visa;\n (b) Subclass 410 (Retirement) visa.","sortOrder":8},{"sectionNumber":"Part 4","sectionType":"part","heading":"Interest on unclaimed amounts","content":"## Part 4—Interest on unclaimed amounts","sortOrder":9},{"sectionNumber":"8","sectionType":"section","heading":"Interest on unclaimed amounts—interest periods ending on 30 June 2013","content":"#### 8 Interest on unclaimed amounts—interest periods ending on 30 June 2013\n\n (1) For the purposes of subsection 20H(2AA) of the Act, this section applies to work out the interest on an amount (the unclaimed amount) that:\n (a) the superannuation provider was, before 1 July 2013, required to pay to the Commissioner under section 20F of the Act; and\n (b) the Commissioner received under section 20F of the Act before, on or after that day; and\n (c) the Commissioner pays under subsection 20H(2) of the Act, on or after the day this instrument commenced, to or on behalf of a person whom the Commissioner is satisfied is (or was just before dying):\n (i) an Australian citizen; or\n (ii) the holder of a permanent visa under the Migration Act 1958.\n The interest worked out under this section on the unclaimed amount is in addition to any interest worked out under section 9 on the unclaimed amount.\n (2) However, this section does not apply to an amount:\n (a) to which section 18A, 20K or 24J of the Act applies; or\n (b) mentioned in subsection 65AA(2) of the Superannuation Guarantee (Administration) Act 1992.\n (3) The interest is to be worked out for the period (the interest period) that:\n (a) started on the later of:\n (i) the day when the superannuation provider was required to pay the unclaimed amount to the Commissioner under section 20F of the Act; and\n (ii) the day when the superannuation provider was required to pay the unclaimed amount to the Commissioner in accordance with a notice under subsection 255‑10(2) or (2A) in Schedule 1 to the Taxation Administration Act 1953; and\n (b) ended on 30 June 2013.\n (4) The interest is to be worked out by adding together the interest for each financial year during the interest period.\n (5) The interest for each financial year is to be worked out using the following formula, and rounding the result to the nearest cent (with 0.5 cents being rounded up):\n ![Start formula start fraction Amount times Days interest payable times Interest rate over Days in the financial year end fraction end formula](image.002.png)\n where:\n\n> amount means the unclaimed amount plus the interest (if any) worked out for each earlier financial year for which interest is payable.\n\n> days interest payable means the number of days in the financial year for which interest is payable.\n\n> days in the financial year means the number of days in the financial year.\n\n> interest rate, for a financial year, means:\n\n (a) the Treasury bond rate for the last working day of the financial year immediately before the financial year for which interest is payable; or\n (b) if that rate is less than 0%—0%.","sortOrder":10},{"sectionNumber":"9","sectionType":"section","heading":"Interest on unclaimed amounts—interest periods starting on or after 1 July 2013","content":"#### 9 Interest on unclaimed amounts—interest periods starting on or after 1 July 2013\n\n (1) For the purposes of subsections 17(2AB) and (2AC), 20H(2AA), 20QF(5) and (6), 21E(5) and (6), 22B(5) and (6), 24G(3A) and (3B) and 24NA(4) of the Act, this section applies to work out the interest on an amount (the unclaimed amount) that:\n (a) a superannuation provider:\n (i) is required, or before the commencement of this instrument was required, to pay to the Commissioner under section 17, 20F, 20QD, 21C or 24E of the Act; or\n (ii) pays to the Commissioner under section 22 of the Act; and\n (b) the Commissioner receives under section 17, 20F, 20QD, 21C, 22 or 24E of the Act; and\n (c) the Commissioner pays under subsection 17(2), 20H(2), 20QF(2), 21E(2), 22B(2), 24G(2) or 24NA(2) or (3) of the Act on or after the day this instrument commenced.\n (2) However, this section does not apply to an amount:\n (a) to which section 18A, 20K, 20QJ, 21F, 22C or 24J of the Act applies; or\n (b) mentioned in subsection 65AA(2) of the Superannuation Guarantee (Administration) Act 1992.\n (3) The interest is to be worked out for the period (the interest period) that:\n (a) starts, or started, on the later of:\n (i) 1 July 2013; and\n (ii) the day when the superannuation provider was required to pay the unclaimed amount to the Commissioner under section 17, 20F, 20QD, 21C or 24E of the Act, or paid the unclaimed amount to the Commissioner under section 22 of the Act; and\n (iii) the day when the superannuation provider was required to pay the unclaimed amount to the Commissioner in accordance with a notice under subsection 255‑10(2) or (2A) in Schedule 1 to the Taxation Administration Act 1953; and\n (b) ends on the third day after the Commissioner last authorised the unclaimed amount to be paid under subsection 17(2), 20H(2), 20QF(2), 21E(2), 22B(2), 24G(2) or 24NA(2) or (3) of the Act.\n A day mentioned in subparagraph (a)(ii) or (iii) or paragraph (b) may be the day this section commences, or any other day occurring before or after that day.\n (4) The interest is to be worked out by adding together the interest for each financial year during the interest period.\n (5) The interest for each financial year is to be worked out using the following formula, and rounding the result to the nearest cent (with 0.5 cents being rounded up):\n ![Start formula start fraction Amount times Days interest payable times Interest rate over Days in the financial year end fraction end formula](image.002.png)\n where:\n\n> amount means the unclaimed amount plus the interest (if any) worked out for each earlier financial year for which interest is payable.\n\n> days interest payable means the number of days in the financial year for which interest is payable.\n\n> days in the financial year means the number of days in the financial year.\n\n> interest rate, for a financial year, means:\n\n (a) the percentage change in the CPI number between the 2 March quarters most recently published before the first day of the financial year (rounded up to 4 decimal places); or\n (b) if that percentage change is less than 0%—0%.","sortOrder":11},{"sectionNumber":"Part 5","sectionType":"part","heading":"Payment of low balances in inactive accounts to the Commissioner","content":"## Part 5—Payment of low balances in inactive accounts to the Commissioner","sortOrder":12},{"sectionNumber":"10","sectionType":"section","heading":"Inactive low‑balance accounts in regulated superannuation funds","content":"#### 10 Inactive low‑balance accounts in regulated superannuation funds\n\n For the purposes of subparagraph 20QA(1)(a)(vi) of the Act, the conditions of release of benefits specified in the following items of the table in Part 1 of Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 are prescribed:\n (a) item 101 (retirement);\n (b) item 102 (death);\n (c) item 102A (terminal medical condition);\n (d) item 103 (permanent incapacity);\n (e) item 106 (attaining age 65);\n (f) item 110 (attaining preservation age).","sortOrder":13},{"sectionNumber":"11","sectionType":"section","heading":"Inactive low‑balance accounts in approved deposit funds","content":"#### 11 Inactive low‑balance accounts in approved deposit funds\n\n For the purposes of subparagraph 20QA(1)(b)(iv) of the Act, the conditions of release of benefits specified in the following items of the table in Part 2 of Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 are prescribed in relation to a fund that is an approved deposit fund:\n (a) item 201 (retirement);\n (b) item 202 (death);\n (c) item 202A (terminal medical condition);\n (d) item 203 (permanent incapacity);\n (e) item 206 (attaining age 65);\n (f) item 208 (attaining preservation age).","sortOrder":14},{"sectionNumber":"12","sectionType":"section","heading":"Inactive low‑balance accounts in retirement savings accounts","content":"#### 12 Inactive low‑balance accounts in retirement savings accounts\n\n For the purposes of subparagraph 20QA(1)(b)(iv) of the Act, the conditions of release of benefits specified in the following items of the table in Schedule 2 to the Retirement Savings Accounts Regulations 1997 are prescribed in relation to a fund that is an RSA:\n (a) item 101 (retirement);\n (b) item 102 (death);\n (c) item 102A (terminal medical condition);\n (d) item 103 (permanent incapacity);\n (e) item 106 (attaining age 65);\n (f) item 110 (attaining preservation age).","sortOrder":15},{"sectionNumber":"Part 6","sectionType":"part","heading":"Reunification of superannuation balances","content":"## Part 6—Reunification of superannuation balances","sortOrder":16},{"sectionNumber":"13","sectionType":"section","heading":"Transferring balances to an active account—eligible fund","content":"#### 13 Transferring balances to an active account—eligible fund\n\n For the purposes of paragraph 24NA(2)(c) of the Act, the prescribed period is the period:\n (a) beginning on the first day of the financial year immediately preceding the financial year in which the payment by the Commissioner under subsection 24NA(2) of the Act is made; and\n (b) ending on the day immediately preceding the day on which the payment by the Commissioner under subsection 24NA(2) of the Act is made.","sortOrder":17},{"sectionNumber":"14","sectionType":"section","heading":"Transferring balances to an active account—more than one eligible fund","content":"#### 14 Transferring balances to an active account—more than one eligible fund\n\n (1) For the purposes of subsection 24NA(3) of the Act, if:\n (a) under subsection 24NA(1) of the Act, the Commissioner holds a superannuation amount (within the meaning of that subsection) in respect of a person; and\n (b) there is more than one fund in relation to which paragraphs 24NA(2)(b), (c), (d) and (e) of the Act are satisfied in respect of the person (there is more than one eligible fund);\n the Commissioner must pay the superannuation amount in respect of the person in accordance with this regulation.\n (2) The Commissioner must pay the superannuation amount in respect of the person to the following eligible fund for crediting to the person:\n (a) if the Commissioner has made any payment under subsection 17(2) or section 20H, 20QF, 21E, 22B, 24G or 24NA of the Act to an eligible fund for crediting to the person during the financial year in which the Commissioner pays the superannuation amount under subsection 24NA(2) of the Act:\n (i) if there is only one such eligible fund—that eligible fund; or\n (ii) if there is more than one such eligible fund—the eligible fund to which the Commissioner has most recently made any of those payments;\n (b) if paragraph (a) does not apply—the eligible fund that most recently received an amount in respect of the person during the period consisting of:\n (i) the financial year in which the Commissioner pays the superannuation amount under subsection 24NA(2) of the Act; and\n (ii) the immediately preceding financial year;\n (c) if paragraphs (a) and (b) do not apply—the eligible fund that holds the largest account balance for the person at the end of the last completed financial year preceding the day on which the Commissioner pays the superannuation amount under subsection 24NA(2) of the Act;\n (d) if paragraphs (a), (b) and (c) do not apply—the eligible fund determined by the Commissioner.","sortOrder":18},{"sectionNumber":"Part 7","sectionType":"part","heading":"Prescribed public sector superannuation schemes","content":"## Part 7—Prescribed public sector superannuation schemes","sortOrder":19},{"sectionNumber":"15","sectionType":"section","heading":"Unclaimed money—prescribed schemes","content":"#### 15 Unclaimed money—prescribed schemes\n\n For the purposes of section 18AA of the Act, each public sector superannuation scheme mentioned in the table is prescribed.\n\n```html\n

Prescribed public sector superannuation schemes

Item

Scheme

Act or governing rules under which scheme is established

1

Emergency Services Superannuation Scheme

Emergency Services Superannuation Act 1986 (Vic.)

2

New Scheme

State Superannuation Act 1988 (Vic.)

3

Revised Scheme

State Superannuation Act 1988 (Vic.)

4

State Employees Retirement Benefits Fund

State Employees Retirement Benefits Act 1979 (Vic.)

5

Transport Superannuation Fund

Transport Superannuation Act 1988 (Vic.)

6

Melbourne Water Corporation Employees Superannuation Scheme

Melbourne Water Corporation Employees Superannuation Scheme Trust Deed

7

Metropolitan Transit Authority Superannuation Scheme

Metropolitan Transit Authority Superannuation Scheme Trust Deed

8

Port of Melbourne Authority Superannuation Scheme

Port of Melbourne Authority Superannuation Scheme Trust Deed

9

GESB Super (Retirement Access) Scheme

State Superannuation Act 2000 (WA)

10

GESB Super Scheme

State Superannuation Act 2000 (WA)

10A

Gold State Super Scheme

State Superannuation Act 2000 (WA)

11

West State Super Scheme

State Superannuation Act 2000 (WA)

12

Police Superannuation Scheme

Police Superannuation Act 1990 (SA)

13

SA Ambulance Service Superannuation Scheme

Superannuation Act 1988 (SA)

14

SA Metropolitan Fire Service Superannuation Scheme

Superannuation Act 1988 (SA)

15

Southern State Superannuation Scheme

Southern State Superannuation Act 2009 (SA)

16

Lump Sum Scheme

Superannuation Act 1988 (SA)

17

Pension Scheme

Superannuation Act 1988 (SA)

18

Super SA Select

Trust Deed and Rules dated 18 December 2012

19

Super SA Flexible Rollover Product

Southern State Superannuation Act 2009 (SA)

20

Super SA Income Stream

Southern State Superannuation Act 2009 (SA)

\n```","sortOrder":20},{"sectionNumber":"16","sectionType":"section","heading":"Unclaimed superannuation of former temporary residents—prescribed schemes","content":"#### 16 Unclaimed superannuation of former temporary residents—prescribed schemes\n\n For the purposes of section 20JA of the Act, each public sector superannuation scheme mentioned in the table is prescribed.\n\n```html\n

Prescribed public sector superannuation schemes

Item

Scheme

Act under which scheme is established

1

Public Sector Superannuation Scheme

Superannuation Act 1990

2

Emergency Services Superannuation Scheme

Emergency Services Superannuation Act 1986 (Vic.)

3

New Scheme

State Superannuation Act 1988 (Vic.)

4

Revised Scheme

State Superannuation Act 1988 (Vic.)

5

State Employees Retirement Benefits Fund

State Employees Retirement Benefits Act 1979 (Vic.)

6

Transport Superannuation Fund

Transport Superannuation Act 1988 (Vic.)

7

State Public Sector Superannuation Scheme

Superannuation (State Public Sector) Act 1990 (Qld)

8

GESB Super (Retirement Access) Scheme

State Superannuation Act 2000 (WA)

9

GESB Super Scheme

State Superannuation Act 2000 (WA)

9A

Gold State Super Scheme

State Superannuation Act 2000 (WA)

10

West State Super Scheme

State Superannuation Act 2000 (WA)

11

Electricity Industry Superannuation Scheme

Electricity Corporations Act 1994 (SA)

\n```","sortOrder":21},{"sectionNumber":"17","sectionType":"section","heading":"Inactive low‑balance accounts—prescribed schemes","content":"#### 17 Inactive low‑balance accounts—prescribed schemes\n\n For the purposes of section 20QH of the Act, each public sector superannuation scheme mentioned in the table is prescribed.\n\n```html\n

Prescribed public sector superannuation schemes

Item

Scheme

Act or governing rules under which scheme is established

1

Emergency Services Superannuation Scheme

Emergency Services Superannuation Act 1986 (Vic.)

2

New Scheme

State Superannuation Act 1988 (Vic.)

3

Revised Scheme

State Superannuation Act 1988 (Vic.)

4

State Employees Retirement Benefits Fund

State Employees Retirement Benefits Act 1979 (Vic.)

5

Transport Superannuation Fund

Transport Superannuation Act 1988 (Vic.)

6

Melbourne Water Corporation Employees Superannuation Scheme

Melbourne Water Corporation Employees Superannuation Scheme Trust Deed

7

Metropolitan Transit Authority Superannuation Scheme

Metropolitan Transit Authority Superannuation Scheme Trust Deed

8

Port of Melbourne Authority Superannuation Scheme

Port of Melbourne Authority Superannuation Scheme Trust Deed

9

GESB Super (Retirement Access) Scheme

State Superannuation Act 2000 (WA)

10

GESB Super Scheme

State Superannuation Act 2000 (WA)

11

West State Super Scheme

State Superannuation Act 2000 (WA)

12

Southern State Superannuation Scheme

Southern State Superannuation Act 2009 (SA)

13

Super SA Select

Trust Deed and Rules dated 18 December 2012

14

Super SA Flexible Rollover Product

Southern State Superannuation Act 2009 (SA)

15

Super SA Income Stream

Southern State Superannuation Act 2009 (SA)

\n```","sortOrder":22},{"sectionNumber":"17A","sectionType":"section","heading":"Voluntary payments to the Commissioner—prescribed schemes","content":"#### 17A Voluntary payments to the Commissioner—prescribed schemes\n\n For the purposes of section 22D of the Act, each public sector superannuation scheme mentioned in the table is prescribed.\n\n```html\n

Prescribed public sector superannuation schemes

Item

Scheme

Act or governing rules under which scheme is established

1AA

GESB Super (Retirement Access) Scheme

State Superannuation Act 2000 (WA)

1AB

GESB Super Scheme

State Superannuation Act 2000 (WA)

1AC

Gold State Super Scheme

State Superannuation Act 2000 (WA)

1AD

West State Super Scheme

State Superannuation Act 2000 (WA)

1

Electricity Industry Superannuation Scheme

Electricity Corporations Act 1994 (SA)

1A

Southern State Superannuation Scheme

Southern State Superannuation Act 2009 (SA)

1B

Super SA Flexible Rollover Product

Southern State Superannuation Act 2009 (SA)

1C

Super SA Income Stream

Southern State Superannuation Act 2009 (SA)

1D

Super SA Select

Trust Deed and Rules dated 18 December 2012

2

Tasmanian Ambulance Service Superannuation Scheme

Public Sector Superannuation Reform Act 2016 (Tas.)

3

State Fire Commission Superannuation Scheme

Public Sector Superannuation Reform Act 2016 (Tas.)

4

Retirement Benefits Fund Contributory Scheme

Public Sector Superannuation Reform Act 2016 (Tas.)

5

Northern Territory Government and Public Authorities’ Superannuation Scheme

Superannuation Act 1986 (NT)

6

Northern Territory Supplementary Superannuation Scheme

Northern Territory Supplementary Superannuation Scheme Instrument, dated 4 January 1989 (NT)

7

Northern Territory Police Supplementary Benefit Scheme

Northern Territory Police Supplementary Benefit Scheme Trust Deed and Rules

\n```","sortOrder":23},{"sectionNumber":"18","sectionType":"section","heading":"Lost member accounts—prescribed schemes","content":"#### 18 Lost member accounts—prescribed schemes\n\n For the purposes of section 24HA of the Act, each public sector superannuation scheme mentioned in the table is prescribed.\n\n```html\n

Prescribed public sector superannuation schemes

Item

Scheme

Act or governing rules under which scheme is established

1

Emergency Services Superannuation Scheme

Emergency Services Superannuation Act 1986 (Vic.)

2

New Scheme

State Superannuation Act 1988 (Vic.)

3

Revised Scheme

State Superannuation Act 1988 (Vic.)

4

State Employees Retirement Benefits Fund

State Employees Retirement Benefits Act 1979 (Vic.)

5

Transport Superannuation Fund

Transport Superannuation Act 1988 (Vic.)

6

Melbourne Water Corporation Employees Superannuation Scheme

Melbourne Water Corporation Employees Superannuation Scheme Trust Deed

7

Metropolitan Transit Authority Superannuation Scheme

Metropolitan Transit Authority Superannuation Scheme Trust Deed

8

Port of Melbourne Authority Superannuation Scheme

Port of Melbourne Authority Superannuation Scheme Trust Deed

9

GESB Super (Retirement Access) Scheme

State Superannuation Act 2000 (WA)

10

GESB Super Scheme

State Superannuation Act 2000 (WA)

11

West State Super Scheme

State Superannuation Act 2000 (WA)

12

Southern State Superannuation Scheme

Southern State Superannuation Act 2009 (SA)

13

Super SA Select

Trust Deed and Rules dated 18 December 2012

14

Super SA Flexible Rollover Product

Southern State Superannuation Act 2009 (SA)

15

Super SA Income Stream

Southern State Superannuation Act 2009 (SA)

\n```","sortOrder":24},{"sectionNumber":"Part 8","sectionType":"part","heading":"Payment of amounts to KiwiSaver scheme provider","content":"## Part 8—Payment of amounts to KiwiSaver scheme provider","sortOrder":25},{"sectionNumber":"20","sectionType":"section","heading":"Payment of amounts to KiwiSaver scheme provider","content":"#### 20 Payment of amounts to KiwiSaver scheme provider\n\n (1) For the purposes of subparagraphs 17(2)(aa)(iii), 20H(2)(ba), 20QF(2)(aa)(iii), 21E(2)(aa)(iii), 22B(2)(aa)(iii) and 24G(2)(aa)(iii) of the Act, this section prescribes the matters that must be satisfied for the Commissioner to make a payment of an amount in respect of a person to a KiwiSaver scheme provider.\n (2) The following matters are prescribed:\n (a) the person has emigrated permanently to New Zealand;\n (b) the person has given the Commissioner proof of residence at an address in New Zealand following the person’s emigration to New Zealand;\n (c) the person has opened a KiwiSaver scheme account;\n (d) the Commissioner has been given sufficient details of the KiwiSaver scheme and the account number to which the amount is to be paid;\n (e) the KiwiSaver scheme provider will accept the amount;\n (f) the taxable component of any superannuation benefit that is paid by the Commissioner would not consist of, or include, an amount that is an element untaxed in the fund.","sortOrder":26}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"The instrument does not alter the Act's substantive scope; it prescribes operational details and decision rules to implement the Act — definitions, procedural requirements, interest formulas, lists of prescribed visas and public‑sector schemes, and conditions for specific payments. It also allocates limited administrative discretion to the Commissioner (notably as a last resort in fund selection, reg 14(2)(d)) but does not expand statutory powers beyond those in the Act."},"complexity_factors":["Extensive cross‑referencing to the Act and other statutes creates interpretive dependency (regs 3, 4).","Two distinct interest regimes (pre‑1 July 2013 and post‑1 July 2013) use different bases — Treasury bond yield vs CPI change — and require per‑financial‑year compounding and rounding (regs 8(3)–(5), 9(3)–(5)).","Numeric formula for annual interest with rounding rules increases calculation and recordkeeping burden for administrators (regs 8(5), 9(5)).","Large, enumerated lists of prescribed public sector schemes across multiple provisions require ongoing administrative maintenance and precise mapping (regs 15–18, 17A).","Hierarchical rule for selecting an eligible fund when multiple exist imposes sequential checks and, ultimately, Commissioner's discretion as a fallback (reg 14(2)(a)–(d)).","Notice content and recovery procedure are prescriptive and create a fixed recovery timeline (28 days), shifting compliance duties onto notice recipients and providers (reg 6(1)(c)–(d)).","Operational prescriptions for moving low‑balance/inactive accounts and specified conditions of release reference other regulatory instruments, adding cross‑regulatory compliance (regs 10–12 referring to SIS and RSA schedules).","KiwiSaver transfer conditions require documentary proof (emigration, NZ residence, account details) and impose an eligibility filter excluding 'element untaxed' amounts, adding evidentiary and tax‑characterisation checks (reg 20(2)(a)–(f))."],"plain_english_summary":"This instrument prescribes technical, operational rules under the Superannuation (Unclaimed Money and Lost Members) Act 1999 — definitions, required notice content, prescribed visas and public‑sector schemes, interest‑calculation formulas for unclaimed amounts, rules for transferring low‑balance and lost member accounts, and conditions for payments to New Zealand KiwiSaver accounts. It affects superannuation providers, public sector schemes, the Commissioner and members by setting who pays, how interest is computed, what must be reported, and when the Commissioner may exercise selection or payment discretion."},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":true,"description":"The legislation has grown significantly beyond its original purpose of simply dealing with 'unclaimed money' and 'lost members'. It now encompasses: inactive low-balance accounts (a 2019 policy addition), voluntary payments to the Commissioner, reunification of balances across multiple funds, international transfers to KiwiSaver schemes, and extensive coverage of state and territory public sector schemes. The original 1999 Act has been repeatedly expanded, and these regulations reflect a broadening from a simple unclaimed money registry to a comprehensive system for protecting and consolidating retirement savings across multiple jurisdictions and scenarios."},"complexity_factors":["Extensive cross-referencing to the Superannuation (Unclaimed Money and Lost Members) Act 1999 and other legislation including the Income Tax Assessment Act 1997, Migration Regulations 1994, Taxation Administration Act 1953, and various state superannuation acts","Multiple mathematical formulas for interest calculations with compound interest components and rounding rules","Temporal complexity with different rules applying to periods before and after 1 July 2013","Nested conditional logic in Part 6 for determining which eligible fund should receive reunified balances (four-tiered priority test)","Numerous defined terms that rely on external legislation (CPI number, Treasury bond rate, element untaxed in the fund, taxable component, superannuation benefit)","Four separate tables listing prescribed public sector schemes with overlapping but not identical coverage across sections 15, 16, 17, 17A, and 18","Multiple exception clauses excluding certain amounts from interest calculations (sections 8(2) and 9(2))","Complex date calculations for interest periods involving multiple potential start dates and the 'later of' tests"],"plain_english_summary":"This instrument details how unclaimed superannuation money and lost member accounts are handled — setting when providers must report and pay balances (including the eligibility age), what notices must include, which visas and public-sector schemes are covered, how interest is calculated, rules for low‑balance inactive accounts, reunification of multiple holdings, and conditions for transfers to KiwiSaver on permanent emigration.\n\nIt affects super funds, members with lost or small accounts, former temporary residents, listed public‑sector employees and emigrants to New Zealand, protecting retirement savings by ensuring the ATO holds, pays interest on, and reunites or transfers unclaimed balances."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-unclaimed-money-and-lost-members-regulations-2019","history":"/api/acts/superannuation-unclaimed-money-and-lost-members-regulations-2019/history","analysis":"/api/acts/superannuation-unclaimed-money-and-lost-members-regulations-2019/analysis","conflicts":"/api/acts/superannuation-unclaimed-money-and-lost-members-regulations-2019/conflicts","importantCases":"/api/acts/superannuation-unclaimed-money-and-lost-members-regulations-2019/important-cases","documents":"/api/acts/superannuation-unclaimed-money-and-lost-members-regulations-2019/documents"}}