20Notice to member spouse and non-member spouse when entitlement becomes payable—the Act, 29E

20 Notice to member spouse and non-member spouse when entitlement becomes payable—the Act, 29E

20 Notice to member spouse and non-member spouse when entitlement becomes payable—the Act, 29E

(1) For the Act, section 29E(e), if a superannuation interest of a member spouse is subject to a payment split, the trustees must give the member spouse and non-member spouse written notice that the interest is subject to a payment split.

(2) The trustees must give notice—

(a) for a payment split under a superannuation agreement or flag lifting agreement—within 28 days after the operative time for the payment split, or

(b) for a payment split under a splitting order—within 28 days after the later of—

(i) the operative time for the payment split, or

(ii) the trustees receiving a copy of the order.

(3) The notice given to the member spouse must specify the following—

(a) the estimated amount of the non-member spouse’s family law superannuation entitlement,

(b) how the amount was calculated,

(c) the period within which the amount will be paid,

(d) the estimated effect of the payment on the member spouse’s entitlement under the Parliamentary Contributory Superannuation Scheme.

(4) For the Act, section 29E(a) and (e), the notice given to the non-member spouse must—

(a) specify the estimated amount of the non-member spouse’s family law superannuation entitlement, and

(b) specify how the amount was calculated, and

(c) specify the circumstances in which—

(i) the amount may be paid or released to the non-member spouse, or

(ii) the amount must be transferred or rolled over to a complying superannuation fund or an RSA, and

(d) invite the non-member spouse to respond to the notice within the prescribed period by—

(i) advising the trustees that the amount may be paid or released to the non-member spouse because of a circumstance specified in the notice, or