Superannuation (PSSAP) Unit Pricing Amendment Determination 2005 No. (3)
- Explanatory Statement
1 Name of Determination
This Determination is the Superannuation (PSSAP) Unit Pricing Amendment Determination 2005 No. (3).
2 Purpose and operation of instrument
The purpose of this Determination is to amend the principal instrument.
3 Principal Instrument
The principal instrument is the Superannuation (PSSAP) Unit Pricing Determination 2005.
4 Investment choice
Pursuant to PSSAP Rules 5.2.1, 5.4.2, and 5.4.3, the PSS Board has decided to allow members investment choice. There are currently 11 investment options from which to choose.
Amounts paid into, or withdrawn from the fund are used to purchase or redeem units. Each investment option has a buy and sell price applied to amounts paid into or withdrawn from the investment strategy.
The buy price determines the number of units allocated to the member in the particular investment strategy.
The sell price determines the value of units that are being withdrawn from a particular investment strategy.
The daily buy and sell prices of relevant units are set out in Schedules 1 and 2 to the Principal Instrument. Schedule 1 sets out unit prices in the period from 1 July 2005 to 22 July 2005. Schedule 2 sets out unit prices for 29 July 2005.
5 Unit Pricing Determinations apply from the date specified
This Determination amends Schedule 2 to the principal instrument by inserting a buy and a sell price for each investment option to apply for the date specified.