OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)

PART I - PRELIMINARY  

REGULATION 3B   VESTING AND PAYMENT STANDARDS: ESTIMATED EARNINGS  

3B(1)   [ Prescribed standard ]  

For the purposes of subsection 7(1) of the Act, the standards in this regulation are prescribed in relation to the vesting in, and payment to, members or former members of benefits arising directly or indirectly from amounts contributed to superannuation funds.

3B(2)   [ Relevant factors: estimate of reasonable share of net earnings ]  

In estimating under subregulation 3(7) the net earnings for a period the trustees must have regard to:

(a) the factors taken into account in the latest calculation of the net earnings of the superannuation fund for the purpose of allotting those net earnings to members; and

(b) the likely returns on the investments of the fund for the period that:

(i) begins at the end of the latest period referred to in that subregulation; and

(ii) ends at the end of the next period in respect of which the net earnings of the fund are to be allotted to members; and

(c) any other factors likely to influence the net earnings of the fund during the period referred to in paragraph (b).

3B(3)   [ Application of estimate ]  

An estimate under subregulation 3(7) of the reasonable share of the net earnings for a period:

(a) applies to a member who withdraws from the fund in the period; and

(b) remains in force unless the trustees make another estimate in relation to the period, or any part of the period, in accordance with subregulation (2).