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Lecture

Week 10

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Department
Accountancy
Course
AYB240
Professor
All Professors
Semester
Summer

Description
1 AYB240 – SUPERANNUATION REGULATION AND PRACTICE LECTURE 10: MEMBER BENEFITS 2 TUTORIAL QUESTIONS 1. What are a superannuation fund member’s “minimum benefits” and how are they protected? 2. Bill Bunter was born in 1948. He resigned from his job in a government department in 2010 after 23 years of service. The balance of his superannuation account shows he had $200,000 restricted non-preserved benefits and $500,000 preserved benefits a) Has Bill attained his preservation age? b) Does Bill satisfy the definition of retirement? c) Can Bill access any of his superannuation benefits? 3. When would a member’s benefits be considered to be ‘lost’ and what measures are there to assist with reuniting members with their super benefits? Can you suggest any other ways in which the superannuation industry and government might guard against benefits becoming ‘lost’? 4. “Using reserves to smooth year-to-year fluctuations in the investment crediting rate
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