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Adding or updating a pooled lifetime income stream 108-19041857

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Forms

Details of income stream product form (SA330)

Reversionary income streams

When coding a reversionary income stream:

  • Code the Event Date as the date of purchase to avoid getting an error ‘Event Date should be equal to Purchase Date for type LPO’.
  • Code a new line using the Event Date as the reversionary date (date of death +1).
  • Delete the original Event Date that is the date of purchase.
QMA details

Activities submitted to Quality Management Application (QMA) for all non-SMSF/SAF pooled lifetime 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 non-SMSF/SAF pooled lifetime income streams must not have the following fields marked as an error:

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