This is the value, as at the relevant date, of liability for members' benefits. This represents the present obligation to beneficiaries for benefits they are entitled to receive in the future as a result of membership of the Registrable Superannuation Entity in accordance with the relevant accounting standards. 

For a defined benefit member that has both defined benefit members' benefits and defined contribution members' benefits, report the portion that is attributed to that member's defined benefit members' benefits in item 5.2 and the portion that is attributed to that member's defined contribution members' benefits in item 5.1. Otherwise, where the last triennial review has been adopted in accordance with Australian Accounting Standards, report the value of that member's defined benefit members' benefits and defined contribution members' benefits in accordance with the last triennial review.  Report unallocated contributions in item 5.3.