Segregation of Assets - Issues obtaining a Actuary Certificate - Accurium
Hi
Because the fund had reached the 1.9 Cap I have had to commute funds back to accumulation. I have also created a segregation policy allocated particular assets to the accumulation account. Now when I request a actuary Certificate from Accurium it fails because of the segregation of the assets. I have contacted Accurium and they have passed the issue onto BGL. Has anyone else had this issue and if so how is it fixed?
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Official comment
Hi Admin,
Unfortunately, because of the Segregation policy in the dashboard, you will be unable to request an actuary certificate from Accurium through Simple Fund 360.
The options are to either delete the policy, or request the actuary certificate outside of Simple Fund 360, then manually enter the details into the fund pension policy screen.
I hope the above answers your question and if there are any further questions please reply to let me know so I may assist further.
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Christopher Banks
Is this a new thing for 2024FY?
Because I've been ordering Actuary Certificates via SF360 for clients that have Segregation policies across multiple members with accum. to comply with Transfer balance limits + multiple pensions accounts + members in accum. only.
Last year however I did have to manually edit some of the data that ended up at Accurium (it was a very complicated job), but that was only because the changes that were needed were minor and didn't need a full delete and re-do in SF360.
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Hi Richard,
Simple Fund 360 stopping you from requesting an actuary when there is a segregation policy has been around for a few years.
It is triggered when requesting an actuary with a segregation policy created in the dashboard, it does not need to have any pools created.
I hope the above answers your question and if there are any further questions, please reply to let me know so I may assist further.
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