Personal Transfer Balance Cap tab in Class

Navigate to Fund Level > Members > Browse members > Select a member > Personal Transfer Balance Cap tab

• The latest indexation display as default expanded view
• Previous indexations display as default collapsed view under Previous Indexations section

The Personal Transfer Balance Cap (PTBC) tab shows different indexation periods for when the Transfer Balance cap was indexed. 

For each member, you should check a member's Transfer Balance Account on the ATO. If you need to make an adjustment in Class you can make a manual adjustment.

Hover over the tooltip icon to discover more information about each field.

1. Whether the member is entitled to indexation of the transfer balance cap in this indexation period.
2. The highest ever credit balance a member had prior to indexation date
   

   The highest ever balance is calculated on an end of day net balance. If a member has a credit and debit to their Transfer Balance Account on the same day for the same amount, then it won't impact their highest Transfer Balance Account. E.g.
   -on 01/07/2017 credit and debit records of $1,000,000.00 then the highest balance is $0
   -on 01/07/2017 credit record of $1,000,000.00 and debit record of $200,000 then the highest balance is $800,000 which is net balance at the end of 01/07/2017.

3. The first date that the highest balance was reached after 30 June 2017
4. Personal Transfer Balance cap on date of Highest Ever transfer Balance Account prior to indexation date
5. Unused Cap Percentage
   Divide highest balance by PTBC on the highest balance date and round down to the nearest whole number as a % and then deduct from 100%
6. Indexation Amount Entitlement
   Indexation increment amount multiply by Unused Cap percentage.
   

   Indexation increment amount may vary for each Indexation based on the General Transfer Balance Cap for e.g.
   Indexation Increment amount for 1 July 2021 Indexation is $100,000 ($1.7m less $1.6m)
   Indexation Increment amount for 1 July 2023 Indexation is $200,000 ($1.9m less $1.7m)
   Indexation Increment amount for 1 July 2023 Indexation is $100,000 ($2m less $1.9m)

7. Personal Transfer Balance Cap
   PTBC after the preceding Indexation plus the Indexation Amount Entitlement for the current Indexation

What's Next?

Learn more about pensions set up by reading Adding & Establishing a New Pension