I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Investment Options

Interest splitting

It’s also possible in certain cases for a new super interest to be generated for a non-member spouse within the superannuation fund of the member spouse as well as credited with their claim under the order or agreement.

Furthermore, it may be possible if the spouse has a retirement savings account or a super interest, for their claim to be transferred to or rolled over to that existing account or interest, or in order for it to be transferred to a new super interest in another super fund.

Where they’re available, these options are known as “interest splitting.” These options on interest splitting are accessible, for certain types of super interests in Commonwealth regulated super funds, under the SIS Regulations’ Part 7A. In addition, the options are accessible, for savings accounts, under the RSA Regulations’ Part 4A. Moreover, the governing guidelines of a few super funds allow one or more of the options accessible under the SIS Regulations’ Part 7A.

It’s important to bear in mind that interest splitting isn’t possible unless there’s a split payment order or agreement in operation under the laws on super splitting. Moreover, it is vital to note that options on interest splitting are not accessible for all super interests. Whether or not they’ll be offered to you will depend on the kind of interest the member spouse already has and, at times, whether the superannuation fund rules have been altered to permit them to be accessible. If you’re interested in determining whether the options on interest splitting are offered to you, and you have not already been given this info, you should inquire the trustee of the super fund of the member spouse.

Flagging a super interest

Under the laws on superannuation splitting, it’s possible to “flag” a super interest. A flag’s effect on a super interest is that the super fund’s trustee is banned from paying any contributions out of the super interest until the “flag” has been lifted.

Regulated super fund

A regulated super fund is one that’s controlled by the Super Industry (Supervision) Act 1993 as well as the associated Super Industry (Supervision) Regulations, along with the amendments handling splitting super interests. Most super funds are regulated super funds. On the other hand, a few of the large super funds --- for instance, those recognized by the state under the state legislation as well as covering state judges, politicians, and public servants --- aren’t regulated super funds.

Self-managed super fund

A super fund is an SMSF (self-managed super fund) if it satisfies the conditions below:
• has less than five members
• each fund trustee is a super fund member
• each fund member is a trustee
• no fund member is a worker of another fund member unless those fund members are related,
• no fund trustee receives any payment for their services and labors as a trustee

The requirement that each member is a trustee guarantees that every member is wholly involved as well as has the chance to take part in the fund’s process of decision-making. If you want to know more about this topic, go to www.australiansuperfinder.com.au

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