24Notice when entitlement becomes payable—the Act, s 45K(e)

24 Notice when entitlement becomes payable—the Act, s 45K(e)

24 Notice when entitlement becomes payable—the Act, s 45K(e)

(1) STC must give a contributor and a non-contributor spouse written notice if the contributor’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, or

(ii) the day STC receives the order.

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

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

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

(a) specify the following—

(i) the estimated amount of the non-contributor 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-contributor 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-contributor spouse to, within the period prescribed under section 23—

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

(ii) otherwise—nominate a complying superannuation fund or an RSA to which the amount must be paid, and