Superannuation (prudential standard) determination No. 2 of 2013 - Prudential Standard SPS 160 - Defined Benefit Matters
Actuarial investigations — interim invesActuarial investigations — interim investigation
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Actuarial investigations – interim investigation
- An RSE licensee must:
(a) appoint an RSE actuary to carry out an actuarial investigation for a defined benefit fund as soon as practicable if:
(i) it appears to the RSE licensee that the fund is or may be in breach of its shortfall limit; and
(ii) a regular investigation scheduled under paragraph 14 is not due for six months or more; or
(b) seek actuarial advice from an RSE actuary as to whether action should be taken prior to the completion of the next regular investigation if:
(i) it appears to the RSE licensee that the fund is or may be in breach of its shortfall limit; and
(ii) the next regular actuarial investigation under paragraph 14 is due to commence within six months
unless an investigation is currently taking place, a restoration plan is already in place under paragraph 32 or the fund is technically insolvent.
- For the purposes of this Prudential Standard, investigations required under paragraph 17(a) are referred to as ‘interim investigations’.