#8055
Awan Hammad
Participant

    SIS Regulation 5.08 requires per the audit report:

    Member minimum benefits must be maintained in the fund until transferred, rolled over,
    allotted (to the member’s spouse) or cashed out in a permitted fashion.

    SIS Regulation 6.17 requires per the audit report:

    Payments of member benefits must be made in accordance with Part 6 or Part 7A of the
    regulations and be permitted by the trust deed.

    I agree the regulations are very similar in that they require member’s benefits to only be paid in a permitted fashion. SIS Regulation 6.17 does refer to the specific divisions of the SIS Regulations that have the rules in relation to benefits being able to be paid.

    Thanks
    The Auditors Institute

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