10Meaning of partially vested accumulation interest

10 Meaning of partially vested accumulation interest

(1) An accumulation interest that a member spouse has as a member of an eligible superannuation plan is a partially vested accumulation interest if subsection (2) or (3) applies in relation to the interest. (2) This subsection applies in relation to the superannuation interest if the withdrawal benefit in relation to the member spouse on a particular day is less than the total amount notionally or actually allocated to the member spouse on that day, except if the withdrawal benefit is less than that notional or actual amount because of any of the following reasons: (a) the trustee of the plan has been assessed to be liable to pay superannuation contributions surcharge in respect of the member spouse, and the trustee has not debited the amount notionally or actually allocated to the member spouse in respect of that liability; (b) insurance costs have been charged against the member spouse’s benefits in the plan; (c) any other fees, taxes or charges will be charged against the member spouse’s benefits when the member spouse ceases to be a member of the plan. (3) This subsection applies in relation to the superannuation interest if the benefits to which the member spouse is or may be entitled, on voluntarily ceasing to be a member of the eligible superannuation plan, may include an additional benefit that is calculated by reference to the amount that has been credited, under the governing rules of the plan, to the member spouse in respect of contributions that have been made by, or in respect of, the member spouse.