Glossary

Defence Forces Retirement Benefits Act 1948

Defence Forces Retirement Benefits Act 1973

Retirement and death benefits scheme provided for in 1973 Act

1973 Scheme re-entrant to whom, immediately before he or she became a member, deferred benefits applicable under 1973 Act

1973 Scheme re-entrant whose invalidity pay under the 1973 Act was, upon becoming a member, cancelled under section 61D of the Act

1973 Scheme re-entrant who, for their last service period as an eligible defence force member, cancelled under section 61D of the Act

1973 Scheme re-entrant who, in respect of their last service period as an eligible defence force member within the meaning of the 1973 Act, received, under section 56 of that Act, a refund of the contribution amount paid to them

Member, not a transferred member, who: (a) was not a member before they began to render the period of continuous full-time service which they are rendering, and (b) had been an eligible defence force member within the meaning of the 1973 Act before becoming a member

Person to whom retirement pay is payable under the 1973 Act

The Scheme

Member who, having been a member and retired, again became a member after a break in the continuity of their service

Fund where retirement benefits are an accumulation of contributions and investing earnings (less fees, taxes and insurance premiums)

Investment manager who is required to beat a benchmark; achieved by buying securities in different proportions from their benchmark weight; actively moves away from benchmark weight in individual investments where the manager has a conviction that those investments will either out- or under-perform the benchmark

Investment approach that aims to achieve returns above a set benchmark, identifying mispriced securities, traded for profit

Individual qualified to make calculations and valuations in respect to superannuation funds, insurance funds or other investment forms; fellow or accredited member of Institute of Actuaries of Australia

Administrative Decisions (Judicial Review) Act 1977

Australian Defence Force

Type of retirement income arrangement under which an individual invests a lump sum and then draws down an annual pension to a value taking account of expected cash flow needs and life expectancy; some income may be eligible for a 15% tax rebate

Of a unit in an investment division, meaning given by rule 11O

Allowance determined by Defence Force Remuneration Tribunal under section 58H of the Defence Act 1903

Non-traditional assets outside those traditional asset classes of shares, property, fixed interest and cash; examples include infrastructure assets, buy-out funds and venture capital

Meaning given by sub rule 85 (2)

May include additional personal contributions, government co-contributions, salary sacrifice, spouse contributions, transfer amounts

Arrangement where periodic payments are made to a person in return for investment of a lump sum, usually to provide retirement income

Date when application for superannuation information is received by trustee, or date specified in application for super information

Australian Prudential Regulatory Authority

Australian Securities and Investment Commission

Weighting of assets in an investment portfolio among different asset classes (such as shares, bonds, property and

Group of financial assets with similar investment characteristics such as Australian company shares in asset class of equity

Meaning given by subsection 46 (1A) of the Act; note under subsection 46 (1A) of the Act an associate is a person to whom an associate benefit is payable Associate benefit includes an associate A benefit, an associate B benefit and an associate pension

Meaning given by sub rule 85 (1)

Meaning given by sub rule 86 (1)

Pension paid under rule 95

Australian Taxation Office

Best thought of an investments in companies or property trusts often listed on the Australian or international stock exchanges; similarly to listed shares, their value fluctuates with supply and demand

Includes but not limited to a body corporate that is an ADI (authorised deposit taking institution) for the purpose of the Banking Act 1959

Dollar figure set out in a court order or superannuation agreement to be allocated to the non-member spouse under family law split

Indexes or other market measurements to ‘benchmark’ investment performance and risk against for a comparable investment

‘Promise’ or debt security given to investors by government or public authority in exchange for cash from lenders to investors; a bond holder is a credit issuer, not a shareholder

Period commencing at the beginning of a day of one of a particular month and ending immediately before the beginning of the corresponding day of the next month or, if there is no such corresponding day, ending at the expiration of the next month

In relation to a 1973 Scheme (deferred benefit) re-entrant, an amount calculated in relation to that person in accordance with Schedule 10A

Chief of Defence Force

Qualified person who provides comprehensive advice and assistance for purpose of meeting clients’ financial needs and life goals; investment advice can only be provided by a person or corporation licensed by the Australian Securities and Investments Commission

In relation to a person who has died, includes:

• a person who:

• is an ex-nuptial child of the deceased person, or

• is, immediately before the death of the deceased person, a stepchild, an adopted child, a foster child or a ward, of the deceased person, and

• a person who:

• is a child or ex-nuptial child of a spouse who survives the deceased person, and

• was wholly or substantially dependent upon the deceased person at the time of the deceased person's death.

Classification referred to in rule 22

Additional contributions from the Australian Government for low income earners; specific eligibility criteria applies

Established by MSB Board (trustee of MilitarySuper to 30 June 2011; now Commonwealth Superannuation Corporation) including Incapacity Classification Committee and Reconsideration Committee

Trustee of CSS (replaced ARIA on 1 July 2011); provides superannuation services and products to Australian Government employees and Military Personnel through nine schemes:

• Commonwealth Superannuation Scheme (CSS)

• Military Superannuation and Benefits Scheme (MilitarySuper)

• Public Sector Superannuation Scheme (PSS)

• Public Sector Superannuation accumulation plan (PSSap)

• 1922 Scheme

• DFRB Scheme

• Defence Force Retirement and Death Benefits Scheme (DFRDB Scheme)

• Papua New Guinea Scheme (PNG Scheme)

• DFSPB

Technical term describing withdrawing some or all of your money from a retirement income stream as a lump sum amount; some retirement income streams do not allow you to withdraw money (these are called ‘non-commutable)

Fund that complies with operating standards specified in the Superannuation Industry (Supervision) Act 1993 (SIS) legislation; is thereby eligible to receive concessional taxation treatment

Commonwealth Superannuation Administration

Parties agree on terms of an order

Normally contributions your employer has made on your behalf (for which your employer can claim a deduction) and salary sacrifice contributions; prior to 1 July 2007 concessional contributions were known as deductable contributions

Most common method of measuring the rate of price inflation; it measures quarterly changes in price of a 'basket' of goods and services which account for a high proportion of representative expenditure of metropolitan wage and salary earners

Orders determined by Court in contested proceedings

An amount of money placed into scheme or fund

Tax applied to certain contributions such as employer and salary sacrifice contributions when paid to a superannuation fund

In relation to a transferred person, service by person after 1 October 1991 for which they paid contributions under Part 2 or contributions under section 17 of1973 Act

Investment portfolio comprising in general a large proportion of fund assets invested in a highly controlled fashion in order to secure fund liabilities with a reasonable degree of confidence

Order issued by Court exercising power under the Family Law Act 1975; can be obtained by consent if parties agree

Final interest rate determined by trustee at which interest is allocated to member accounts; determined at the end of a specified period and based on fund performance after fees and charges are deducted. No longer used by MilitarySuper; unitisation replaced crediting rates

Security representing borrowed funds to be repaid by issuer at an agreed interest rate

Tax-free component of retirement pay; ff you take retirement pay including your member contributions paid from after-tax dollars (non-concessional contributions), you will receive tax deductions each year for a portion of this amount over the life of your retirement pay

Meaning given by rule 11D

Family Law (Superannuation) Regulations 2001; sets out more detail about superannuation information requests and responses and how to value superannuation interests for family law splits

Assets (such as cash and bonds) not very susceptible to market fluctuations

Fund which defines retirement benefit as a multiple of member’s salary; usually based on member's period of fund Membership and not directly linked to contributions made over membership; MilitarySuper and DFRDB are defined benefit funds

Department of State for Defence

Investment products (such as a share option) derived from other securities or assets; value is linked to value of underlying security

Determination No. 6 of 1992, Salaries, made under section 58H of the Defence Act 1903, as in force from time to time

Defence Force Retirement and Death Benefits

Member of 1973 Scheme

Investments held directly in real estate; not indirect property investments such as units in a property trust

Rate of return on money invested, usually expressed as an annual percentage; calculated after taxes and fees are deducted

Proportion of MilitarySuper invested in a particular market sector if all assets are included; used to manage fund risk profile in order to implement investment positions

In relation to a person who has died and was at the time of his or her death, an ancillary, an associate, a Member or a former Member, a person who is the child of the deceased person and:

• is a person who has not attained the age of 16 years, or

• is a person who:

• has attained the age of 16 years but has not attained the age of 25 years, and

• is receiving full-time education at a school, college or university or other full-time education approved by the Board for the purposes of this subparagraph, and

• is not ordinarily in employment or engaged in work on his or her own account.

Service calculated in relation to person in accordance with Schedule 6

Meaning given under Defence Act 1903

Amount of employer benefit calculated for a person in accordance with Schedule 8

Figure derived from your length of service; multiplied by your final average salary to determine your employer benefit; multiple is 0.18 for each year of service up to seven years, 0.23 for each year after seven years up to 20 years, and 0.28 for each year thereafter

For unitised member, account under paragraph 11M (1) (b)

Value of superannuation interest using Scheme Specific Factors and Methods (SSFM)

Amount calculated for a person in accordance with Schedule 7

Average of your superannuation salary earned in last three years before retirement or other departure from MilitarySuper (or your period of membership if less than three years). Your employer benefit is determined by multiplying your employer benefit multiple by your Final Average Salary (FAS)

A period of 12 months commencing on 1 July

Lifts previously made payment flag from a member super interest

Prevents a trustee from making splittable payments in respect of a member's interest, and requires trustee to notify the Court when a splittable payment becomes payable for that super interest

Allowance of that name established by Determination No. 7 of 1997, Flying Allowance, made under section 58H of the Defence Act 1903, as in force from time to time

A person (not being a person who has been an eligible Member of the ADF within the meaning of the 1973 Act):

• who, before he or she became a Member, had been a Member of the armed forces of a country other than Australia, and

• who rendered with those forces a period of service

Declaration to accompany application to trustee for information about a superannuation interest; form number of this declaration in the Family Law (Superannuation) Regulations 2001

Financial Services Guide

Financial Services Reform

Of a kind similar to continuous full-time service in the ADF for a period of or exceeding 12 months, and (c) with regard to whom the Board, after consultation with the appropriate authority of the Defence Force, directs that the full-time service or a part of that service of that person with those forces is to be included in aggregated service for the purposes of Schedule 8

Fund established, and vested in the Board, by the Trust Deed

In relation to a person, means:

• before 1 July 2002 - the sum of:

• the amount of employer contributions paid by the Department, in relation to the person, under rule 10 less the amount of income tax paid or payable by the Fund in respect of those contributions, and

• the interest (if any) in respect of the amount in subparagraph

• in accordance with a determination or determinations by the Board as to rates of interest and the method of allocation of interest to such amounts, and

• on or after 1 July 2002 - the sum of the values of units in the person's employer funded account

Assets such as company shares that provide investment returns (comprising capital and income) that outperform inflation

Investment type where manager uses higher risk techniques to generate higher returns including derivatives, short selling and borrowing in order; hedge fund management is highly specialised

Investment position taken to counteract risk of another position

Allowance determined under Part IIIA of the Defence Act 1903

Incapacity Classification Committee

Property investment made by purchasing units in a property trust, or shares in a property company

Interim benefit accrued for person in accordance with clause 7 of the Defence Force (Superannuation) (Productivity Benefit) Determination (made under section 52 of the Defence Act 1903) while the person was an eligible defence force member within the meaning of 1973 Act

A contribution by member who is a transferred person; rate is governed by operation of sub rule 4 (1A)

Money invested in international companies and sectors outside Australia; value of capital is affected not only by value of shares but also by currency exchange rates

In relation to a person, includes physical or mental incapacity of the person to perform his or her duties

Payment to a person from super fund or employer made after 30 June 1994 due to person's disability

Pension payable under rule 27 or 28

Person entitled to invalidity pension or would be entitled if pension payment had not been suspended under sub rule 25 (3)

Person who is about to be, or has been, retired from defence force on the ground of invalidity  including a person who, in accordance with rule 30, is to be treated as if he or she had been retired on that ground

Established under rule 11A or by trustee action under rule 11C

Regular payment from an investment, such as interest from cash and bonds, or rent from property and dividends received from shares

Meaning given by rule 11Q

Set of principles used to govern how investment portfolios are managed

Meaning given by rule 11J

Interactive Voice Response telephone system

Retirement income invested in super (or other money invested) with income paid periodically such as monthly; capital not taxed but minimal income flexibility available; in MilitarySuper, the employer sponsored pension is indexed to CPI and paid for the life of a member

Investment reference to period more than five years

Superannuation benefit taken in cash rather than rolled into an income stream such as a lifetime pension or allocated pension

Amount calculated for person in accordance with paragraph 1 of Schedule 3

Leave without pay

Tax rate payable on top proportion of an individual’s income

Last reported price of a stock sold

Purchase or sale of stocks on basis of shorter-term price patterns and temporary market opportunities plus view of underlying value; extremely difficult to get right consistently

Fund allowing many unconnected companies and/or individuals to operate through same fund; generally operated by banks, life insurance companies and specialist superannuation administrators

Set in MilitarySuper rules as upper limit on benefits which can be paid; contributions stop once total MilitarySuper benefit ( member benefit and employer benefit) reaches this limit; MBLs apply mainly to longer serving members; MilitarySuper will notify you if close to your MBL

Maximum amount per annum contributed into super for which a tax deduction is allowed; dependent on person's age and tax deduction is available to employers and the substantially self-employed only

Member who ceased to pay contributions in accordance with rule 5

Investment reference to period of one to five years

Member of scheme in accordance with section 6 of the Act

For a person, means: (a) before 1 July 2002 – an amount calculated in accordance with Schedule 9;and (b) on or after 1 July 2002 – the sum of the value of units in the person's Member funded account and Member unfunded account

Legal requirement where a fund cannot charge administration fees in excess of interest credited unless fund's total investment income is less than total expenses for accounts with a balance below $1000; means small inactive accounts are not eroded by fees; does not apply to tax on employer contributions or any insurance premiums; all administration charges in MilitarySuper met by the employer

Money contributed by employee from after-tax salary; not taxed when deposited into fund provided the member has not claimed a tax deduction for the contribution; amounts contributed from 1 July 1999 cannot be taken on exit until you reach your preservation age or retire permanently from the workforce

Account established under paragraph 11M (1) (a)

Spouse with superannuation interest in fund with superannuation entitlement from split under family law splitting order or superannuation agreement under Part VIIIB of the Family Law Act 1975

Account established under paragraph 11M (2) (a)

Membership of MilitarySuper

Military Superannuation and Benefits Scheme

Calendar month

Military Superannuation and Benefits

Military Superannuation and Benefits Scheme (MilitarySuper)

Military Superannuation Communication Committee

Total shareholder funds in a company divided by issued shares

Total assets less total liabilities

Part of member benefit not subject to preservation; can be withdrawn before member reaches their preservation age; are all contributions in MilitarySuper made before 1 July 1999

After-tax money invested in a super fund such as additional personal contributions

Spouse, not member spouse, with interest in super entitlement subject to a family law splitting order or superannuation agreement

Date split takes effect, specified in a court order; or four business days after a superannuation agreement is served on the trustee; non-member spouse becomes an associate scheme member

Defence (Parliamentary Candidates) Act 1969

Employer who makes superannuation contributions to fund on behalf of their employees; Department of Defence for MilitarySuper

Investment approach with objective to achieve market or index returns; no judgments made on future market movements

'Pay as you go'; taxation procedure for wage and salary earners under which income tax is deducted in installments from periodic payments

Interest not in growth phase at time of split; for example, member spouse in receipt of pension

Splitting order/agreement

Product Disclosure Statement

Regular periodic payment, either by government or as super benefit

Amount calculated in relation to a person in accordance with paragraph 3 of Schedule 3

Superannuation interest where member interest is determined by reference to a percentage; Family Law (Superannuation) Regulations 2001 prescribe certain superannuation interests to be percentage-only interests; MilitarySuper does not have percentage-only interests

Same meaning as in Defence Act 1903

Actual cash amount invested in physical assets such as market sector or at total portfolio level; does not include amounts for future drawdown and investment (ie for private equity, infrastructure and opportunistic property), currency hedging positions or derivatives (investment products such as option to purchase shares derived from other securities or assets) to manage risk profile of fund and to implement investment positions

Arrangement between individual and a life office or bank where benefit is funded entirely from individual's own contributions, not their employer; members should seek professional investment advice before entering into such arrangements and should pay close attention to level of fees and commissions charged, especially penalties applied in the event of early termination of these arrangements

Ability to take your superannuation with you when you change jobs

Investor's range of investment holdings which generally references its composition (ie mix of different asset classes or mix of different sectors and stocks for single asset class)

Portion of your benefit relating to service after 30 June 1983; benefits concessionally taxed and depend on your age and amount involved

Portion of your benefit relating to service before July 1983; only 5% is included as taxable income in the year you receive the benefit

Shares ranking before ordinary shares in the event of liquidation of the issuing company; usually receive a fixed rate of return on unfranked investment

Fee in regulations made in pursuance of section 52 of the Act

Half-year commencing on 1 January 2002 or a subsequent half-year

Year commencing on 1 July 1991 or a subsequent year

Legal requirement for certain superannuation benefits to stay in super or a rollover fund until member retires after they reach their preservation age; released before preservation age only in very limited circumstances, including total and permanent disablement and extreme financial hardship

Age at which super fund member can access their preserved benefits, provided they permanently retire from the workforce

Part of member's benefit subject to preservation

Funds in superannuation structure until retirement on reaching preservation age or other genuine retirement from the workforce; funds are 'preserved' and cannot generally be withdrawn until retirement

Amount earned upon selling an asset that increased in value beyond original purchase price

Contributions made by person under previous legislation, other than: (a) any such contributions refunded to him or her under that legislation, and (b) in the case of a person who, immediately before he or she transferred from the 1973 Scheme, was rendering continuous full-time service (in this paragraph called the relevant service) and who, before he or she began to render the relevant service, was a 1973 Scheme retirement pensioner - any such contributions made in respect of service rendered by the Member before the Member began to render the relevant service, and (c) any such contributions in respect of which a transfer value was paid under section 82ZA of the 1948 Act or section 77 of the 1973 Act

1948 Act and 1973 Act

Equity interest in companies not listed on a recognised stock exchange; can include unlisted public companies or privately owned businesses operating under a proprietary limited arrangement

Amount, equal to 3% of salary paid into MilitarySuper by Department of Defence; introduced in 1988 after national wage case decision to grant Australian workers a 3% pay rise as contribution to superannuation by their employer; in MilitarySuper, it forms part of your total employer benefit which is calculated by multiplying your employer benefit multiple by your Final Average Salary (FAS)

Qualifications and skill component of an allowance

Reconsideration Committee

Nominal (unadjusted) interest rate less current inflation rate

Amount a rate of return exceeds inflation rate over a period; for example, fund aims to achieve a rate of return for members of 3% per annum above the inflation rate over any three-year period

Maximum super benefit an individual can receive over a lifetime on concessionally taxed basis; more generous if benefit is taken as a pension than as a lump sum

Fund falls under regulation of SIS legislation; becomes ‘regulated’ when it elects to adopt a corporate trustee structure, or when its principal activity is provision of age pensions to members

Information super fund trustees must provide to their members, parties and to regulatory authorities such as the Australian Taxation Office and Insurance and Superannuation Commission, in order to comply (meet) with legislative requirements

Fund assets not allocated to member accounts when interest is credited; used to 'smooth' fluctuations in returns from year to year

Money received from investment, usually expressed as a percentage

Notice to trustee from associate member to set out relevant personal information required under regulation 72 of the Family Law (Superannuation) Regulations 2001

Same meaning as in section 19 of Superannuation Industry (Supervision) Act 1993

Relates to payment split under a superannuation agreement

Percentage applicable to spouse or child of deceased member in accordance with Schedule 4

Relates to Parliamentary Candidates Act 1969, subsection 10 (2), 11 (2) or 12 (2), as case requires

Same meaning as in Defence Act 1903

Former member paid a pension not including person paid a pension  because they are spouse or child of a deceased member

Expression of level of risk a fund is prepared to accept to achieve target return for each investment option

Variability of returns from an investment; risk that returns achieved will be lower or higher than anticipated; more risk must equal higher expected returns if investors are to be attracted

Transfer of a superannuation benefit or other superannuation rollover benefits payment within superannuation environment between funds, or from a fund to an income stream such as an allocated pension

Meaning given by Part 10 of Rules Schedule; generally any periodical payment made to a person in return for work or services

Agreed arrangement between an employer and an employee whereby the employee agrees to sacrifice part of their gross salary in exchange for a benefit, such extra employer contributions to super; these superannuation contributions are preserved

Refers to methods and factors prescribed for civilian and military schemes to enable a superannuation interest to be valued for family law splitting purposes; methods and factors took effect on 18 May 2004 but apply to all family law superannuation splits

Military Superannuation and Benefits Scheme set by Trust Deed

Value of superannuation interest in Scheme for family law purposes using method set out in SSFM and factors set out in Ministerial orders (CSS), Trust Deed (PSS), or in attachment to actuary's document (DFRDB and MilitarySuper)

Superannuation Complaints Tribunal

Fund where all administration and investment management is performed by trustee not external service providers

Written declaration, signed by at least one spouse that must be served on trustee within 28 days of spouse(s) signature; only relevant to super agreements where parties are separated but are not yet divorced

Service as member of the Australian Defence Force

Allowance established under Determination No. 11 of 1994 made under section 58H of the Defence Act 1903

Same meaning as in Defence Force Discipline Act 1982

Part ownership of a company given to investor (shareholder); provides certain rights such as right to participate in profits through dividends, voting rights, and in the event company is dissolved, right to a claim against asset remaining after all debts are paid

Investment reference to period usually less than one year

Superannuation Industry (Supervision) Act 1993

Amount specified, in column 2, in item 104 of Schedule 1 to the Superannuation Industry (Supervision) Regulations

Superannuation Industry (Supervision) Regulations 1994

Allowance under Determination No. 11 of 2002, Special Action Forces Allowance, made under section 58H of the Defence Act 1903

Allowance under Determination No. 19 of 2002, Specialist Operations Allowance, made under section 58H of the Defence Act 1903

Contribution made by a person to their spouse's super fund; attractive taxation benefits may be available

Pension paid to spouse under Part 4 of these Rules

Superannuation (Resolution of Complaints) Act 1993

Australian Government Statistician

Age determined by Department of Defence at which you must retire from the Australian Defence Force

Allowance established by Determination No. 9 of 1995, Submarine Service Allowance, made under section 58H of the Defence Act 1903

Money saved during working life for retirement

Tribunal established by Australian Government to deal with complaints about super fund trustee decisions; requires complaints to be fully addressed through fund's internal dispute resolution procedure first

Minimum amount an employer must contribute to a complying superannuation fund on behalf of each qualifying employee; employers who fail to meet their SG obligations are liable to a substantial financial penalty, called the Superannuation Guarantee Charge (SGC)

Legislation governing operation of all complying superannuation funds

Payment from super fund, or employer, to a person upon resignation, retrenchment, disablement, death or retirement; payment can be rolled over to another fund or taken in cash in some instances

Tax on super contributions made by employers (including salary sacrifice contributions) for high-income earners; may apply to members who have not provided their tax file number

Superannuation Contributions Tax (Assessment and Collection) Act 1997 is a tax on employer-financed superannuation contributions

Maintained under section 16 of the Superannuation Contributions Tax (Assessment and Collection) Act 1997

In relation to scheme member or to whom benefits become payable under the Rules; specified in determination made by trustee, under Schedule 12, in relation to the member

Unique number issued to individuals and organisations by Australian Taxation Office to increase efficiency in administering tax and other government systems such as income support payments

Tax paid on taxable part when claiming your benefit; part of your benefit from an untaxed source is also made up of different components, most common of which is post-June 1983 taxed element

Source where tax was previously paid including additional personal contributions, salary sacrifice contributions, transfer amounts and any earnings on these contributions; your benefit from a taxed source is divided into two parts – tax-free and taxable

Projected amount discounted to take out effect of inflation

Definition may vary slightly, but generally requires that, for payment of an insurance benefit, the fund trustee must be satisfied that the member is unlikely to be able to work in any occupation they may be suited by reason of their training, education or experience; members may misunderstand that they would be covered if they are unable to return to the position they held before they became disabled, but the test is normally more strict; some funds provide different forms of disablement insurance cover, such as temporary disablement cover

Sum of a member benefit and employer benefit

Of a unit in an Investment Division, has the meaning given by rule 11S

Starting amount of associate's interest in relevant scheme

Meaning given by rule 11U

In relation to a transferred person, amount calculated in accordance with Schedule 10

Transferred person who, immediately before transferring from 1973 Scheme, was rendering continuous full-time service and who, immediately before beginning to render that service, was a 1973 Scheme retirement pensioner

Transferred person who, immediately before transferring from 1973 Scheme, was rendering continuous full-time service and who, before he or she began to render that service, had been an eligible defence force member within meaning of 1973 Act during an earlier period of such service rendered by him or her, in respect of which he or she: received, under section 56 of that Act, a refund of the amount of the contributions paid by him or her, and did not subsequently make an election under paragraph 63 (1) (d) or subsection 64 (1) of that Act

Person who became a member in consequence of having made an election to do so under section 132 of the 1973 Act

Legal document to set out rules governing operation of a super fund; members are entitled to view a copy of their fund's trust deed, although they may be charged a fee to be sent a copy

Corporate body with legal responsibility for running of a fund in accordance with requirements laid out in trust deed; has fiduciary duty to act in good faith and best interests of members

Meaning given by rule 11I

Conversion of member interest-bearing accounts to unit-based accounts within MilitarySuper

Super interest of member spouse with withdrawal benefit under $5000

In relation to family law; higher of scheme value and family law value at operative time

Degree of fluctuations in an investment such as share prices or exchange rates; one measure of risk

Personal contributions made by members; additional to employer contributions

Meaning given by rule 11K