Income stream reviews 110-02060000

If schedule received in person, scan any documents provided to the customer's record

Is the customer contact or work item related to an income stream review?

• Yes, go to Step 3
• No, go to Step 2

If a customer is advising of a change in their income stream product outside of the review period, refer to the details for the income stream type:

• Adding or updating an account-based income stream
• Adding or updating a defined benefit or military invalidity pension income stream
• Adding or updating a market-linked income stream
• Adding or updating a lifetime income stream
• Adding or updating a pooled lifetime income stream
• Adding or updating a life expectancy income stream
• Adding or updating a term income stream
• Assessing income streams paid from Self-Managed Superannuation Funds (SMSFs) or Small APRA Superannuation Funds (SAFs)

Recode the product if 1 or more of the following fields have been coded incorrectly for an income stream product:

• Product type
• Original purchase price. Note: recoding is not needed if a discrepancy is in the cents only
• Purchase date
• Term/relevant number
• Commencement date

Deletion is not needed. The existing product can be cancelled from the Date of Event (DOV) of the activity with the Product Cancellation Reason of OTH. Recode the product with the same DOV and corrected details.

Procedure ends here.

Where the customer has been asked to provide details for a Customer Based review and fail to respond, payments are to be suspended.

If the system has failed to automatically apply the suspension action and a work item has been allocated:

• check customer and/or partner records to ensure required documents are not available to action before coding suspension. Within started activity, suspend FSS (No reply to income stream review) via the Benefit Action (BA) screen
• where the customer is being paid in the NSS system, within the started activity, manually suspend FRC (Fail to reply to correspondence) via the Benefit Action (BA) screen. See Cancellation, suspension and rejection reason codes for Newstart System (NSS)

If the customer is responding to a request for details about:

• a review generated because a term income stream has expired and it has a Residual capital value (RCV), see Review of income stream products with a residual capital value
• an indexation review for lifetime, lifetime pooled, life expectancy or continuing term income streams, see Income Stream Indexation Reviews
• for a review of an income stream paid from a Self-Managed Super Fund (SMSF) or a Small APRA Fund (SAF), go to Step 4
• a letter requesting the customer provide information as part of a Customer Based Review, see the relevant procedure based on the product type:
• Income stream customer reviews - defined benefit or military invalidity pension income streams
• Income stream customer reviews – account-based and market-linked income streams
• a DOC on the record for an AISR RFI asking for details to support manual processing of an Automated Income Stream Review, go to Step 5

If the income stream review is part of the August Super 12 monthly review (SAL) for account based and market-linked income streams, see August income stream reviews.

If an actuarial certificate has been provided for a lifetime or life expectancy asset test exempt income stream for a Self-Managed Super Fund or Small APRA Super Fund either:

• refer to a Complex Assessment Officer (CAO), or
• action by a CAO. See Reviewing actuarial certificates for lifetime or life expectancy asset test exempt income streams for Self Managed or Small APRA Super Funds

Procedure ends here.

When the income stream product is reviewed under the Automation of Income Stream Reviews (AISR) process, there may be hand-offs generated which need supporting documents to be completed.

Is the Service Officer trained in processing hand-offs for automated income stream reviews?

• Yes, go to Step 6
• No, go to Step 7

For more details see:

• Automated income stream review handoffs for manual processing
• Income stream reviews - coding accuracy

To escalate, use Fast Note - select Auto Text, use Older Australians > Update > Action req – Auto Income stream review:

• amend the text in the Fast Note with the action(s) needed
• in Work Optimiser, search for existing work items via Customer Search:
• if there is no existing AISR work item, leave the Fast Note open
• if an AISR work item exists, do not touch the work item and close the Fast Note
• if a non-auto income stream review work item exists, re-categorise as ZIAM_AISR_SUPS
• procedure ends here