Salary continuance insurance made easy
From 1 April 2009 members who are, or have been a temporary resident, are generally restricted in the manner in which they can access their superannuation.
The ATO will periodically issue temporary resident reports to superannuation funds who are required to transfer all amounts held in those member's accounts, to the ATO. If required, the Trustee will transfer any unclaimed superannuation of temporary resident's to the ATO.
Under relief granted by ASIC, exit statements are not required to be sent to the members advising that their account has been transferred to the ATO. WALGSP will be relying on this relief.
If a temporary resident subsequently contacts the fund, information about the payment to the ATO will be provided. Please note that any temporary resident has the right to contact the ATO and make an application to it requesting payment of any transferred unclaimed superannuation.