Explainer · Legislation
Reg 39 in 90 seconds: when retirement counselling must start
The rule in Regulation 39(2)(e), in plain words, and the question it leaves for boards.
Video not published yet. Read the transcript below.
A planned 90-second explainer. Until it is recorded, the transcript below is the script.
Read the full piece: Annuity strategy at fund level: what Reg 39 asks boards to own
Chapters
- 0:00 The rule
- 0:30 What "not less than three months" means
- 1:00 The board question
Transcript
Since the 2017 default regulations, pension, pension preservation and retirement annuity funds must have an annuity strategy, and members must have access to retirement benefits counselling.
Regulation 39(2)(e) sets the timing: counselling must be available not less than three months before a member's normal retirement age. Three months is the latest point, not the target.
So the board question is simple: when do our members actually first get counselling, and does that leave them time to make the choice? Check your fund's rules and the current regulations for the exact duties.
This is education only. It is not advice on which annuity to choose or how much to draw.
Staging pilot (v2 Portion 8, video template). Script only: no video recorded or published, no channel exists. Needs editorial gate, recording and owner sign-off on a YouTube brand channel before any live video.