39Obligation to notify person of right to choose a fund

39 Obligation to notify person of right to choose a fund

(1) Within 28 days after the member becomes a person who, under section 33, can choose a fund as described in section 34, the administering authority must cause the member to be given a written notice containing the following information—

(a) a statement that the member may choose as the fund to which contributions in respect of the member will be paid under this Part—

(i) a complying superannuation fund; or

(ii) an RSA;

(b) a statement to the effect that if the member does not choose a fund, the contributions will be paid to the fund or scheme that is, from time to time, the default fund;

(c) such other information (if any) as is prescribed for the purposes of this section.

(2) For the purposes of subsection (1), a person becomes a person who, under section 33, can choose a fund as described in section 34, on whichever of the following days applies—

(a) unless paragraph (b) applies, the first day of the relevant new scheme contribution period of the person; or

(b) if the day on which the person is declared to have been elected under section 121 of the Electoral Act 2002 is later than the day applicable under paragraph (a), that later day.

Division 4—The default fund

S. 40 inserted by No. 78/2004 s. 7.