Account Based pensions are recognised as TRIS in Class, how to fix it?
It normally happens to the first-year loaded fund in Class. The Member who owns the pension account has met Member Transitions requirement (e.g. retirement) but has not reached 65 years old. But the Condition of Release for Pension Establishment and Member Transitions information are missing.
To resolve this issue, update the condition of release for the required pension account and record the member transition information in the fund.
To update the condition of release
Navigate to Fund Level > Members > Browse Members
- Click on the required pension account
- From the pension detail page, click on the "Edit" button
- From the pop-up screen, click on "Maintain Establishment Details"
- Select a "Condition of Release" from the drop-down list
- Click on Save
To update the member transition information
Refer to our User Guide, Member Transitions - Recording a Condition of Release for detailed steps.
The Effective Date of the Member Transactions can be back-dated. For example, if the fund transferred to Class as at 30 June 2018, while the member retired on 30 June 2017, the effective date of retirement can be recorded as at 30 June 2017.