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Financial planning, Investment and Self Managed Super Fund Article
The history of preservation changes
By Tony Negline
1st October 2004
This article may be out of date.
Preservation has been a feature of the superannuation framework since 1986. The preservation standards, as the rules are known, have been constantly changed in the 18 years since inception.
Knowing what the rules are over a period of time is very important. This month I present how and when the SIS preservation standards have been amended by the various regulations over the last 10 years.
Your first reaction may be to assume that this table has little practical application. The fact is that it provides valuable background information when confirming the accuracy of client information.
As I help advisers solve their knowledge gaps and sort out the best solution for their clients, I am detecting an increasing number of historical administration errors which can adversely affect their clients’ retirement benefits. Understanding the timing of and changes to these rules is therefore becoming essential.
In the November 2004 edition of ATC Digest I will present a second table which collates this information and illustrates how the rules have evolved over time.
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