64Information about certain defined benefit interests (Act s 90XZB, s 90YZR)

#### 64 Information about certain defined benefit interests (Act s 90XZB, s 90YZR) (1) This regulation applies in relation to a superannuation interest of a member of an eligible superannuation plan if: (a) the interest is a defined benefit interest or a component of the interest is a defined benefit interest; and (b) the interest is not a percentage‑only interest or an interest in a self managed superannuation fund; and (c) regulation 68A does not apply in relation to the interest. (2) For subsections 90XZB(3) and 90YZR(3) of the Act and subject to subregulations (6), (7), (7AA), (7A) and (7B), the information about the defined benefit interest that must be provided to an applicant by the trustee of the plan is as follows: (aa) if the interest is an unsplittable interest, a statement to that effect; (a) a statement indicating whether the interest is subject to a payment split or payment flag and, if the interest is subject to a payment split (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse’s entitlement has been satisfied as required by Division 2.2), the information mentioned in subregulation (5); (b) the date of commencement of the member’s service period, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997; (c) the date when the member first became a member of the plan; (d) if the interest was in the payment phase at the appropriate date—the payment phase information in relation to the interest mentioned in subregulation (3); (e) if the interest was in the growth phase at the appropriate date and the interest is held by a member as a result of employment in which the member is or was still engaged at the appropriate date—the growth phase information mentioned in subregulation (4); (eaa) if: (i) the interest was in the growth phase at the appropriate date; and (ii) the interest is held by a member as a result of employment in which the member is or was no longer engaged at the appropriate date; and (iii) under the governing rules of the plan, the benefit in respect of the interest is payable after the date when the information is provided— the growth phase information mentioned in subregulation (4A); (ea) if the application for information specifically requests the trustee to provide information about the withdrawal benefit in relation to the member—the withdrawal benefit in relation to the member at the date when the information is provided; > Note: If an application for information specifically requests the information mentioned in paragraph (ea) to be provided, the trustee is required to provide only the information mentioned in that paragraph to the applicant, and is not required to provide any other information to the applicant under this regulation—see paragraph (6)(a). (f) details of any fees that may be charged by the trustee under paragraph 59(1)(a), (b), (c), (d) or (f). > Note: This information may not have to be provided by a secondary government trustee—see regulation 69. (3) For paragraph (2)(d), the payment phase information in relation to the superannuation interest is: (a) if the member is receiving ongoing pension payments in respect of an allocated pension—the withdrawal benefit in relation to the member at the appropriate date; and (aa) if the member is receiving ongoing pension payments in respect of a market linked pension—the market linked pension account balance at the appropriate date; and (b) if the member is receiving ongoing pension payments in respect of a pension other than an allocated pension or a market linked pension: (i) the amount of annual pension benefit payable to the member at the appropriate date; and (ii) a statement indicating whether the pension benefit is a lifetime pension or a fixed‑term pension; and (iii) if the pension is a fixed‑term pension: (A) the date when the pension payments commenced; and (B) the length of the term; and (iv) a statement indicating whether the pension benefit is indexed and, if so, the method of indexation; and (v) a statement indicating whether there is any reversionary beneficiary who is a non‑member spouse in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member; and > Note for paragraphs (a) and (b): The trustee is not required to provide the information mentioned in paragraph (a) or subparagraph (b)(i) unless a record of it is in the trustee’s possession, power or control—see paragraph (6)(b). (c) if a lump sum is payable to the member in respect of the interest at the date when the information is provided or at any later date, and the amount of the lump sum is known—the amount of the lump sum; and (d) if a lump sum (a future lump sum) is payable to the member in respect of the interest at a date after the date when the information is provided, and the amount of the lump sum is not known: (i) the amount of the lump sum that would have been paid at the date when the information is provided if a lump sum were payable at that date (the nominal lump sum); and (ii) the method that is to be used to index the nominal lump sum to determine the amount of the future lump sum; and (e) if a lump sum payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided: (i) the amount of the payment; and (ii) the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; and (f) a statement: (i) indicating whether the Minister has approved, under regulation 43A, a method or factors for determining the gross value of the interest; and (ii) giving details of any method or factors so approved; and (g) if the application for information specifically requests the trustee to provide it and the trustee chooses to do so—the gross value of the interest at the appropriate date, determined in accordance with: (i) whichever of the methods in regulation 41, 42 or 43 applies to the interest; or (ii) a method or factors approved by the Minister under regulation 43A. (4) For paragraph (2)(e), the growth phase information in relation to the superannuation interest is as follows: (a) the member’s retirement age; > Note: The term member’s retirement age is defined in regulation 3. (b) the member spouse’s accrued benefit multiple, within the meaning given by regulation 65, for any lump sum, or pension, payable in respect of the interest; (c) the salary figure, on which any benefit payable in respect of the interest would be based, assuming that the member were eligible to retire at the appropriate date; > Note: Example: If the benefit payable in respect of a member’s superannuation interest is defined by reference to the member’s final average salary, the salary figure for this paragraph would be the member’s final average salary. (d) if the benefit in respect of the interest is payable as a combination of a lump sum and a pension and the governing rules of the plan restrict the proportion of the pension that may be commuted to a lump sum—the maximum amount of pension that may be commuted to a lump sum, expressed as a percentage of the amount of the pension that would be payable if the whole benefit were to be taken as a pension; (da) if the benefit in respect of the interest is payable as a combination of a lump sum and a pension and the governing rules of the plan restrict the proportion of the lump sum that may be converted to a pension—the maximum amount of the lump sum that may be converted to a pension, expressed as a percentage of the amount of the lump sum that would be payable if the whole benefit were to be taken as a lump sum; (e) if any pension payable in respect of the interest is indexed and, if so, the method of indexation; (f) if any pension payable in respect of the interest has a guarantee period and, if so, the length of the guarantee period; (g) the conversion factor for converting a lump sum to a pension that will apply at the member’s retirement age; (h) the commutation factor for commuting a pension to a lump sum that will apply at the member’s retirement age; (i) if benefits in respect of the interest may be payable to a reversionary beneficiary who is a non‑member spouse—the proportion of payment in respect of the interest that the non‑member spouse would receive, as a reversionary beneficiary, on the death of the member; (j) unless the interest is in a constitutionally protected fund—the amount (if any) that was stated to be the surcharge debt of the member in the most recent member information statement provided to the member before the appropriate date; (k) if the interest is in a regulated superannuation fund or an RSA: (i) the amount of restricted non‑preserved benefits that had accrued to the member, and would be payable to the member, if he or she were to resign from his or her employment on the date when the information is provided; and (ii) the amount (if any) of the member’s unrestricted non‑preserved benefits; (l) if the interest is in an approved deposit fund—the amount, at the date when the information is provided, of the member’s unrestricted non‑preserved benefits; (m) if: (i) a payment that would have been a superannuation lump sum, within the meaning of subsection 995‑1(1) of the Income Tax Assessment Act 1997 had been made in respect of the interest at the date when the information is provided; and (ii) the amount of the payment had been the amount payable to the member if he or she had voluntarily ceased to be a member of the plan— the value that the components of the superannuation lump sum would have had under Subdivision 307‑C of that Act would have had; (n) a statement: (i) indicating whether the Minister has approved, under regulation 38, a method or factors for determining the gross value of the interest; and (ii) giving details of any method or factors so approved; (o) if the trustee has given information under Division 2.5 of the SIS Regulations to each member of the plan that the plan is to be reconstructed or terminated—a statement to this effect; and (p) if the application for information specifically requests the trustee to provide it and the trustee chooses to do so—the gross value of the interest at the appropriate date, determined in accordance with Schedule 2 or in accordance with a method or factors approved by the Minister under regulation 38. > Note: The trustee is not required to provide the information mentioned in paragraph (b), (c) or (j) to the applicant in certain circumstances—see paragraph (6)(d). (4A) For paragraph (2)(eaa), the growth phase information in relation to the superannuation interest is as follows: (a) if the benefit in respect of the interest is payable only as a lump sum: (i) the amount of the lump sum that would be payable at the appropriate date, or, if that amount is calculated by reference to the indexation of 2 or more specified lump sums, the amount of each lump sum at that date (excluding any superannuation contributions surcharge payable in respect of the interest), if the member were able to take, and did take, the benefit in respect of the interest at that date; and (ii) if the amount of the lump sum is calculated by reference to the indexation of the amount of one or more specified lump sums—the method of indexation in respect of each lump sum; and (iii) the earliest date when the benefit may be paid to the member (other than for death or disability); (b) if the benefit in respect of the interest is payable only as a pension: (i) if the amount of the pension payable is calculated by reference to the conversion of a lump sum amount when the pension begins to be paid: (A) the amount of the lump sum at the appropriate date (excluding any superannuation contributions surcharge payable in respect of the interest), if the member were able to take, and did take, the benefit in respect of the interest at that date; and (B) if the amount of the lump sum is calculated by reference to the indexation of the lump sum—the method of indexation; and (C) the factor for converting the lump sum to a pension that will apply at the earliest date when the benefit may be paid to the member (other than for death or disability); and (ii) in any other case: (A) the amount of the pension at the appropriate date (excluding any superannuation contributions surcharge payable in respect of the interest), if the member were able to take, and did take, the benefit in respect of the interest at that date; and (B) if the amount of the pension is determined by increasing a fixed amount in accordance with an index until the earliest date when the benefit may be paid to the member (other than for death or disability)—details about the method used to increase the amount of the pension; and (iii) if the pension is indexed when it begins to be paid—the method of indexation; and (iv) a statement about whether there is any reversionary beneficiary who is a non‑member spouse in relation to the pension benefit and, if so, the proportion of the ongoing pension payments that would be payable to the reversionary beneficiary on the death of the member; and (v) the earliest date when the benefit may be paid to the member (other than for death or disability); (c) if the benefit is payable as a lump sum, a pension, or a combination of a lump sum and a pension—the information mentioned in paragraphs (4)(d) and (da) and paragraphs (a) and (b) of this subregulation; (d) the amount (if any) of the member’s unrestricted non‑preserved benefits at the date when the information is provided; (e) the information mentioned in paragraphs (4)(j), (m), (n), (o) and (p). > Note: The trustee is not required to provide the information mentioned in paragraph (4)(j) to the applicant in certain circumstances—see paragraph (6)(d). (5) For paragraph (2)(a), the information that must be provided in relation to each payment split to which the superannuation interest is subject (other than under a superannuation agreement, flag lifting agreement or splitting order in relation to which the non‑member spouse’s entitlement has been satisfied as required by Division 2.2) is as follows: (a) the operative time for the payment split; (b) if the payment split is under subparagraph 90XJ(1)(c)(i) or (ii) or 90YN(1)(c)(i) or (ii) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the payment phase at the appropriate date—the amount that, under subregulation 58(6) or 58D(3), a person is entitled to be paid from each splittable payment that becomes payable in respect of the interest; (c) if the payment split is under subparagraph 90XJ(1)(c)(i) or 90YN(1)(c)(i) of the Act, or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act, and the interest was in the growth phase at the appropriate date: (i) the base amount specified in the relevant superannuation agreement or flag lifting agreement in relation to the interest; and (ii) if applicable, the adjusted base amount at the appropriate date; (d) if the payment split is under subparagraph 90XJ(1)(c)(ii) or 90YN(1)(c)(ii) of the Act and the interest was in the growth phase at the appropriate date: (i) the amount set out in the document served on the trustee under paragraph 90XI(1)(b) or 90YM(1)(b) of the Act; and (ii) if applicable, the adjusted base amount at the appropriate date; (e) if the payment split is under subparagraph 90XJ(1)(c)(iii) or 90YN(1)(c)(iii) of the Act or under a splitting order made under paragraph 90XT(1)(b) or 90YY(1)(b) of the Act—the specified percentage that is to apply to any splittable payment that becomes payable in respect of the interest. (6) The trustee is not required to provide information mentioned in this regulation to an applicant in any of the following circumstances: (a) if the application for information specifically requests the trustee to provide the information mentioned in paragraph (2)(ea) to the applicant, the trustee is not required to provide any other information mentioned in this regulation to the applicant; (b) the trustee is not required to provide the information mentioned in paragraph (3)(a) or subparagraph (3)(b)(i) to the applicant unless a record of that information is in the trustee’s possession, power or control; (d) the trustee is not required to provide the information mentioned in paragraph (4)(b), (c) or (j) to the applicant unless a record of that information is in the trustee’s possession, power or control. (7) If, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of a defined benefit interest, or a component of a superannuation interest that is a defined benefit interest, the Minister may, by written determination, provide either or both of the following: (a) that the trustee is not required to provide the information about the interest, or the component of the interest, mentioned in one or more paragraphs of subregulation 64(4) or (4A); (b) that the trustee must provide other information, as specified in the determination, about the interest or the component of the interest. (7AA) If, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest that is made up of a component that is a defined benefit interest and a component that is an accumulation interest (other than a partially vested accumulation interest), the Minister may, by written determination, provide any or all of the following: (a) that the trustee is not required to provide the information about the component that is a defined benefit interest mentioned in one or more paragraphs of subregulation 64(4); (b) that the trustee is not required to provide the information about the component that is the accumulation interest mentioned in one or more paragraphs of subregulation 63(4); (c) that the trustee must provide other information, as specified in the determination, about the superannuation interest or a component of the superannuation interest. (7A) If, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest that is made up of a component that is a defined benefit interest and a component that is a partially vested accumulation interest, the Minister may, by written determination, provide any or all of the following: (a) that the trustee is not required to provide the information about the component that is a defined benefit interest mentioned in one or more paragraphs of subregulation 64(4); (b) that the trustee is not required to provide the information about the component that is a partially vested accumulation interest mentioned in one or more paragraphs of subregulation 63(4A); (c) that the trustee must provide other information, as specified in the determination, about the interest or a component of the interest. (7B) If, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of the superannuation interest, the Minister may, by written determination, provide either or both of the following: (a) that the trustee is not required to provide the information about the interest mentioned in one or more paragraphs of subregulations (2) and (3); (b) that the trustee must provide other information, as specified in the determination, about the interest. (8) A determination by the Minister under subregulation (7), (7AA), (7A) or (7B) is a legislative instrument.