Can a Fund has two fund policies?
Yes. Below are the common situations when a fund will have more than one Fund policy.
- GST registration update
- Fund changing from 100% accumulation to 100% pension or vice versa (this is normally before FY17)
Refer to Why is the ECPI calculation incorrect when there are two fund policies? for the post FY17 process.
Changing the settings in Fund Policy will not change the processed business events. Make sure to refresh the business events after the changes. The detailed steps are provided in knowledge base article How do I refresh a Business Event?.
The below settings should be consistent for the entire Financial Year:
- Assets Segregated for Pensions
- Defer Member Tax
- Use Tax Effect Accounting (including the percentages)