Victorian Consolidated Legislation

Emergency Services Superannuation Act 1986 - SECT 17B

Group accounts

17B. Group accounts



(1) The Board may establish and maintain separate group accounts within the
Scheme.

(2) A group account must show the asset and liability position of the account.

(3) Group accounts may be established for a part or all of the Scheme and any
administered scheme.

(4) A group account must be credited with-

   (a)  all contributions and amounts received by the Board by or on behalf of
        the contributors, beneficiaries, members or pensioners to which the
        group account relates;

   (b)  that part of the investment earnings of the Scheme that the Board
        determines is attributable to the group account on a fair and
        equitable basis.

(5) A group account must be debited with-

   (a)  all benefits paid to or in respect of the contributors, beneficiaries,
        members or pensioners to which the group account relates;

   (b)  that part of the amount appropriated by the Board to the Management
        Account under section 18 that the Board determines is attributable to
        the group account on a fair and equitable basis;

   (c)  any other expenses, taxes or charges which the Board determines are
        attributable to the group account on a fair and equitable basis.