15Notice when entitlement becomes payable—the Act, s 27AL(e)

15 Notice when entitlement becomes payable—the Act, s 27AL(e)

15 Notice when entitlement becomes payable—the Act, s 27AL(e)

(1) STC must give an employee and a non-employee spouse written notice if the employee’s superannuation interest is subject to a payment split.

(2) The notice must be given—

(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 the following—

(i) the operative time for the payment split,

(ii) the day STC receives the order.

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

(a) the estimated amount of the non-employee 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 employee’s entitlement under the State Authorities Non-contributory Superannuation Scheme.

(4) The notice given to the non-employee spouse must—

(a) specify the following—

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

(ii) how the amount was calculated,

(iii) the circumstances in which the amount may be paid or released to the non-employee spouse,

(iv) the circumstances in which the amount must be transferred or rolled over to a complying superannuation fund or an RSA, and

(b) require the non-employee spouse to, within the period prescribed under section 14—

(i) if the non-employee spouse meets a circumstance for payment or release—provide details as to the required payment method, or

(ii) otherwise—nominate a complying superannuation fund or an RSA for the transfer or rollover of the amount, and