The Government has released for public consultation an exposure draft for the intra fund consolidation of superannuation interests and the accompanying explanatory materials.
This measure will provide Funds a framework within which to administer intra fund consolidation. The amendments place a duty on trustees to establish and publish rules setting out a procedure for consolidating a member’s inactive interests within their fund on an annual basis.
Please note that this consultation was the first exposure draft relating to intra fund consolidation of superannuation interests. A later exposure draft was released in August 2012.