6.1.2.90 Reviews - Investments

Summary

This topic explains review action associated with a change in an income support recipient's investments and covers:

  • verifying account and investment balances, and
  • obtaining the surrender value of life insurance policies.

Verifying account & investment balances

When the balance of an investment held by an income support recipient alters, their pension may have to be reassessed. When reviewing investments, ALWAYS identify the current balance of:

  • a bank, building society or credit union account, OR
  • any other type of investment.

If an investment has a market value (1.1.M.40), then identify the current market value in the review.

Obtaining surrender value of life insurance policies

Do NOT conduct a review for the sole purpose of updating the surrender value of a life insurance policy. Obtain the current surrender values along with any other review of an income support recipient's assets (1.1.A.290).

Policy reference: SS Guide 4.4 Deeming Provisions

Last reviewed: 16 May 2016