Amalgamation of Funds

So as to protect the entitlements of members when one fund is transferred to another fund, the approval of APRA is required pursuant to Part 18 of the Superannuation Industry (Supervision) Act 1993.

It is a provision of subsection 146(c) that:

“the transfer would not adversely affect the interests of the members and beneficiaries of the transferee fund.”

The Trustee of the Transferor Fund and the Trustee of the Transferee Fund are both required to sign an approved form pursuant to subsection 145(2) of the Superannuation Industry (Supervision) Act 1993.

The “approved form” can be found here.

RSEL-Approval-of-transfer-s145 APPROVED TRANSFER FORM

The Transferor Trustee is required to provide “up-to-date” copies of the “governing rules” of the Transferor Fund.

The definition of “governing rules” can be found here.

Documents that should Exist

If a legally valid transfer to another fund had in fact taken place on the 20 January 2014 as claimed, then the following documents should be able to be produced for inspection by persons who have a beneficial interest in an occupational pension fund established on the 23 December 1913 and another occupational pension trust established on 17 December 1963

  • – A copy of the Act of the Parliament of South Australia that amended the terms of the occupational pension trust established on the 23 December 1913 for male employees so that the Trust Estate and the legal entitlement of the members and beneficiaries could be lawfully transferred to another Trust Estate (fund)
  • – A copy of the Act of Parliament of South Australia that amended the terms of the occupational pension trust established on 17 December 1963 for female employees so that Trust Estate and the legal entitlement of the members and beneficiaries could be lawfully transferred to another Trust Estate (fund)
  • – A copy of the “unanimous decision in writing” jointly made by the “Board of Directors and Trustees” to “realise” the Fund established in 1913 for male employees and for the fund to be transferred to the Trust Estate of another fund.
  • – A copy of the “unanimous decision in writing” jointly made by the “Board of Directors and Trustees” to “realise” the Fund established in 1963 for female employees and for the fund to be transferred to the Trust Estate of another fund.
  • – A copy of the resolution made in accordance with the provisions of Regulation 4.08(3) of the Superannuation Industry (Supervision) Regulations 1994 to select the Plum Superannuation Fund as the Transferee Fund for the Trust Estate of the fund established in 1913 for male employees, in lieu of another fund.
  • – A copy of the resolution made in accordance with the provisions of Regulation 4.08(3) of the Superannuation Industry (Supervision) Regulations 1994 to select the Plum Superannuation Fund as the Transferee Fund for the Trust Estate of the fund established in 1963 for female employees.
  • – A copy of the “approved form” pursuant to Section 145(2) of the Superannuation Industry (Supervision) Act 1993 that was lodged with APRA seeking approval to transfer the Trust Estate of the Fund established in 1913 to the Trust Estate of the Plum Superannuation Fund.
  • – A copy of the “governing rules” of the 1913 Fund provided to APRA with the “approved form” ,including the original Trust Deed that established the fund.
  • – A copy of the “approved form” pursuant to Section 145(2) of the Superannuation Industry (Supervision) Act 1993 that was lodged with APRA seeking approval to transfer the Trust Estate of the Fund established in 1913 to the Trust Estate of the Plum Superannuation Fund.
  • – A copy of the “governing rules” of the 1963 Fund provided to APRA with the “approved form”, including the original Trust Deed that established the fund.
  • – A copy or the “approval document” provided by APRA pursuant to Section 146 confirming that APRA has granted approval for the transfer of the Trust Estate of the 1913 Fund to the Trust Estate of the Plum Superannuation Fund.
  • – A copy or the “approval document” provided by APRA pursuant to Section 146 confirming that APRA has granted approval for the transfer of the Trust Estate of the 1963 Fund to the Trust Estate of the Plum Superannuation Fund.
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    This tab updated on 3 August 2015