Mercer Superannuation (Australia) Limited v Billinghurst [2017] FCAFC 201

FEDERAL COURT OF AUSTRALIA

Mercer Superannuation (Australia) Limited v Billinghurst [2017] FCAFC 201 Appeal from: Mercer Superannuation (Australia) Limited v Billinghurst [2016] FCA 1274

File number: VID 1342 of 2016

Judges: FLICK, KERR AND PAGONE JJ

Date of judgment: 7 December 2017

Catchwords: SUPERANNUATION – decision of Superannuation Complaints Tribunal setting aside decision of Trustee and remitting it for reconsideration – calculation of lump sum value of defined benefit pension – where Trustee adopted a valuation based on calculations of Plan Actuary who had advised the employer – where employer had communicated its views to the Trustee as to the methodology to be employed in its calculations – whether Trustee's decision was fair and reasonable in the circumstances – Trustee required to prioritise interests of beneficiaries where conflict arose – appeal dismissed

Legislation: Superannuation Industry (Supervision Act) 1993 (Cth) Superannuation (Resolution of Complaints) Act 1993 (Cth)

Cases cited: Board of Trustees v Edington (2011) 119 ALD 472 Citicorp Life Insurance Ltd v Smith [2005] FCAFC 102 Collector of Customs v Pozzolanic Enterprises Pty Ltd [1993] FCA 322; (1993) 43 FCR 280 Colonial Mutual Life Assurance Society Limited v Brayley [2002] FCA 1333 Coulton v Holcombe [1986] HCA 33; (1986) 162 CLR 1 Edwards v Commonwealth Superannuation Corporation [2017] FCAFC 173 Lykogiannis v Retail Employee Superannuation Pty Ltd (2000) 97 FCR 361 Minister for Immigration and Ethnic Affairs v Wu Shan Liang [1996] HCA 6; (1996) 185 CLR 259 National Mutual Life Association of Australasia Limited v Scollary [2002] FCA 695