13Notice to contributor and non-contributor spouse when entitlement becomes payable—the Act, ss 61WB(5) and 61WD(a), (b), (e)

13 Notice to contributor and non-contributor spouse when entitlement becomes payable—the Act, ss 61WB(5) and 61WD(a), (b), (e)

13 Notice to contributor and non-contributor spouse when entitlement becomes payable—the Act, ss 61WB(5) and 61WD(a), (b), (e)

(1) If the superannuation interest of a contributor becomes subject to a payment split, STC must provide written notice of that fact to the following—

(a) the contributor,

(b) the non-contributor spouse.

(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) STC’s receipt of a copy of the splitting order.

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

(a) the estimated amount of the family law superannuation entitlement of the non-contributor spouse and how it was calculated, and

(b) the period within which payment of the entitlement must be made, and

(c) the estimated effect of the payment on the entitlement of the contributor under the State Superannuation Scheme established under the Act.

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

(a) specify the estimated amount of the family law superannuation entitlement of the non-contributor spouse and how it was calculated, and

(b) specify the circumstances in which the amount—

(i) may be paid or released to the non-contributor spouse, or

(ii) must be transferred or rolled over to a complying superannuation fund or an RSA, and

(c) require the non-contributor spouse to, within 60 days of the notice being given—

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