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Adding or updating a market-linked income stream 108-05060020

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Details of income stream product (SA330)

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Item

Text

1

Market-Linked income stream (MLI) in the final year

Summary: SUPS MLI coded on OAS/OINS

Text: CUS has a SUPS - MLI PRN (insert product reference)

This product is in its last/final year before expiry & due to a known system issue with no current fix the assessable income is not being calculated correctly.

Workaround completed per OB 108-05060020 instructions.

Product has been placed on OINS and OAS to allow for correct income and asset assessment.

FAL review has been set to review and expire product at the end of term.

QMA details

Activities submitted to Quality Management Application (QMA) for all Market-Linked income streams must not have the following fields marked as an error:

  • Incorrect ABN
  • Provider name not being an exact match to the schedule

QOL details

Activities submitted to Quality On Line (QOL) for all Market-Linked income streams must not have the following fields marked as an error:

  • Incorrect ABN
  • Provider name not being an exact match to the schedule