Retirement Savings Accounts Amendment Regulations 2004 (No. 3) (197 of 2004)

Schedule 1   Amendments

[10]   Subregulation 4A.05 (6)

substitute

(6) In opening the new RSA for the non-member spouse:

(a) a proportion must be taken from the unrestricted non-preserved benefits, the restricted non-preserved benefits and the preserved benefits of the member spouse; and

(b) the proportion taken from each category of benefits must be the same as the proportion that the category bears to the member spouse's interest immediately before the payment split.

(6A) The benefits in the non-member spouse interest are:

(a) if the original interest is in the growth phase - unrestricted non-preserved benefits, restricted non-preserved benefits or preserved benefits in accordance with the character that they had in the member spouse's interest; and

(b) if the original interest is an allocated pension - unrestricted non-preserved benefits.