Chapter 3. Adding and changing funds SuperFund 2015
Figure 44: The "Pension" window
3. In the Member field, select the member who is receiving the pension, and complete the other field as required.
Note: For a transition to retirement pension, select the Transition to Retirement check box.
4. Click Save to save the information.
5. If necessary, click New to create a new pension, or use the blue arrows to edit another pension.
6. Click Close to return to the “Pensions” window.
7. Click Close to exit from the “Pensions” window.
Setting member allocations
You can set the amount that each member is allocated from the fund, and the amounts allocated to the members’ accumulation and pension accounts.
1. From the Members menu, click Member Allocations to open the “Member Allocations” window.
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SuperFund 2015 Setting member allocations
Figure 45: The "Member Allocations” window
2. Under Allocation Method, you can select Based on members opening balances to automatically allocate the funds based on the members’ opening balances. This is the preferred method for continuing funds.
Note: The Based on members opening balances option does not take into account the dates that members made their contributions. If you want to weight the allocations to allot more to members who made contributions earlier, then you must select the
Manually
assign allocation to each member option and complete the table.
3. If you select the Manually assign allocations to each member option, in the Allocation% column, enter the percentage to be allocated to each member.
Note: The allocations must add up to 100%
4. Members receiving a pension will have a tab to set the amounts to be allocated to their pension and accumulation accounts.
5. If required, click a Member tab.
Figure 46: The "Member Allocations” (Member tab) window
6. Under Allocation Method, you can select Based on account opening balances to automatically allocate the funds based on the opening balances of the member’s accounts.
7. If you select the Manually assign allocations to each account option, in the Allocation% column, enter the percentage to be allocated to each accounts.
Note: The allocations must add up to 100%
8. To match the amounts allocated to the accumulation and pension accounts with the fund’s actuary percentage , click
Worksheet to open the “Member Allocation Worksheet” window.
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