SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 5.02 Determination of costs

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 5.02

  (1)   The trustee of a regulated superannuation fund or an approved deposit fund must determine the costs to be charged from time to time against a member's benefits in the fund.

  (2)   In determining the costs to be charged against a member's benefits, the trustee may include:

  (a)   the direct costs of establishing, operating and terminating the fund; and

  (b)   any administrative, insurance and taxation costs relating to the establishment, operation and termination of the fund; and

  (c)   if the member's benefits are subject to a payment split, the costs incurred in administering the payment split (not including the costs offset by any fees payable under regulation   59 of the Family Law (Superannuation) Regulations   2001 in respect of the payment split).

  (3)   Subject to regulation   5.01B, in determining the costs to be charged against a member's benefits, the trustee must ensure that the costs of the fund (including the costs (if any) incurred by the fund as a result of the operation of Division   5.4) are distributed in a fair and reasonable manner as between:

  (a)   all the members of the fund; and

  (b)   the various kinds of benefits of each member of the fund.