Family Law Superannuation

Helping you through family superannuation laws

The Family Law (Superannuation) Act 2001 treats a superannuation interest as property, which is able to be split on the breakdown of a marriage. Prior to this Act, superannuation assets were allowed for in a property settlement, but a superannuation account could not be split.

The Family Law Superannuation Regulations prescribe the method that must be used to value superannuation assets. This is particularly important for accounts in defined benefit funds, where there was always the potential for disagreement on the value of an account.

Family law superannuation calculations

In order for the court to split a superannuation interest, the superannuation assets must be valued. Where parties agree to a superannuation split, the superannuation assets do not need to be valued, but the method outlined in the regulations may provide an independent means of valuing the asset. Haintz Actuarial provides expert family law superannuation consulting services so you are fully informed of your options and rights.

HA can also prepare valuations of accumulation accounts and defined benefit accounts, and of interests in the growth phase and the payment phase. Specific valuation methods and factors are used where the Attorney-General has given approval for a fund to use a valuation method different to that in the Regulations.

The Attorney-General’s Department has published some basic information about superannuation and family law. It includes Frequently Asked Questions and valuation examples, and can be found at www.ag.gov.au