The Fund Pension Policies screen allows you to request an Actuarial Certificate directly from Lime Actuarial and enter the non-deductible expense proportions for a fund.
Important Prerequisites to use the Actuarial Wizard
- Enter all transactions for the financial year.
- Member(s) have been converted to pension mode.
- Fund relationships for the Trustee and Tax Agent have been entered.
- Fund Details have been entered (ABN,TFN etc).
- Create entries is not required to be processed to the end of the year.
|From the Main Toolbar, go to Member.||
|Select Fund pension policies from the list.||
Requesting an Actuarial Certificate from Lime Actuarial
- Select + New Actuarial Certificate.
- The fund's current financial year will pre-fill. Select Request Actuarial Certificate to open the Actuary Wizard.
- Review the Fund, Trustee and Member information. If any of this information needs to be changed you will need to update it outside of the Pension Policy screen.
Select the Trustees and Members tabs to review these sections.
To expand a section, select the arrow next to each member:
- Select Next >.
- Complete and Review your contact details. This section will pre-fill based on your current SF360 license details. However, they are editable if required. Also input any additional comments on your application, including any sections of the information that you may be uncertain of. This information will be transmitted to Lime along with the application.
- Select Next >.
- Select Lime Actuarial as the Actuarial Provider.
Select Pricing Info for further cost information.
Select Submit to Actuary to submit your request from SF360 to Lime Actuarial.
An estimated Actuarial Percentage will be returned. Select View Application and Lime Actuarial website will open in a new tab for you to complete your application.
Lime Actuarial will not review any of the information sent until you confirm the application on their website.
Lime Actuarial - Reviewing certificate data and purchase
The data sent by Simple Fund 360 will be pre-populated into Lime Actuarial's form.
You will be prompted to login or create a new account if you do not have one.
Review the data and the Confirm your order. You will receive the certificate immediately.
Receiving the Actuarial Certificate
After processing your payment, you will receive the actuarial certificate via email (sent to the nominated email address).
You will need to ensure that the Pension Policy in SF360 reflects the official tax exempt percentage issued by Lime. To update the Pension Policy in SF360, go to Members | Fund Pension Policies and click on the Actuarial % column in the Actuarial Wizard.
A pop up box will appear displaying the Pension Policy.
(Click on the image for full size view)
- Ensure that the Actuarial Percentage reflects the official tax exempt percentage you have received from Lime.
- Change the Certificate Status from Estimated to Confirmed.
See Fund Pension Policies for more information on non-deductible expenses.
Amending an Actuarial Certificate
How do I prepare amended actuarial certificates for Lime Actuarial?
If you need to prepare an amended certificate:
- Make any necessary changes to the fund information (transactions);
- Re-request an actuary certificate completing the steps from the above section Request an Actuarial Certificate from Lime (steps 1 -9);
- View the application on the Lime website by selecting View Application.
- You will receive an amended certificate via email. To update the amended percentage, review the steps above in Receiving the Actuarial Certificate.