36Trustees to determine rights of electors

36 Trustees to determine rights of electors

36 Trustees to determine rights of electors

(1) The trustee of the transferee scheme is to determine, with actuarial advice, the rights of the elector in the scheme.

(2) Regard must also be had to any rights the elector had in the transferor scheme and the rights established in the transferee scheme must be as near as possible to them.

(3) In particular, the trustee is to take into account the following:

(a) the elector’s accrued benefits in the transferor scheme, as certified by the trustee of that scheme,

(b) the benefits that the elector could have accrued by normal retirement age in the transferor scheme,

(c) the elector’s employment status (including salary and whether full-time or part-time) in the transferee scheme, on commencement or recommencement of membership of the scheme,

(d) the amounts being transferred under Division 5.

(4) In the case of a Category 3, 4, 5 or 6 elector, the trustee must also take into account:

(a) the period of employment, with any employer responsible for making contributions under either the transferor or transferee scheme, in the period between the date the benefit was deferred and the date that the elector again becomes a member of the transferee scheme, and

(b) any employer contributions made by any such employer to any complying superannuation fund within the meaning of the Income Tax Assessment Act 1997 of the Commonwealth in respect of the elector during that period.

cl 36: Ins 1.10.1999.