21Family law superannuation payments—the Act, s 29E

21 Family law superannuation payments—the Act, s 29E

21 Family law superannuation payments—the Act, s 29E

(1) For the Act, section 29E(f), the trustees must pay a family law superannuation payment within the following periods—

(a) for a payment in the circumstance specified in the Act, section 29C(3)(a)—as soon as practicable after receiving notice from the non-member spouse,

(b) for a payment in the circumstance specified in the Act, section 29C(3)(b)—within 90 days after receiving the non-member spouse’s nomination of a complying superannuation fund or RSA,

(c) for a payment in the circumstance specified in the Act, section 29C(5)—within 90 days of the end of the prescribed period.

(2) The trustees must, within 28 days after taking an action specified in subsection (1), give the member spouse and non-member spouse a written notice stating—

(a) that the trustees paid, released, transferred or rolled over the non-member spouse’s family law superannuation entitlement, and

(b) the amount of the entitlement, and

(c) how the amount was calculated, and

(d) in the notice given to the member spouse—the estimated effect of the action on the member spouse’s entitlement under the Parliamentary Contributory Superannuation Scheme, and

(e) in the notice given to the non-member spouse, if the amount was transferred or rolled over to a superannuation fund or RSA—the name and contact details of the superannuation fund or RSA.

Note—

See the Family Law (Superannuation) Regulations 2001 of the Commonwealth, regulation 59 in relation to fees the trustees may charge in relation to certain actions taken under this section.