King & Wood Mallesons

Asia-Pacific 100 position: 3

MySuper regulations made

On Friday last week, the Superannuation Legislation Amendment (MySuper Measures) Regulation 2013 was made. The Treasury also issued a document describing the ‘outcomes of the consultation process’ relating to the earlier exposure draft regulation. Reading the outcomes document and the final regulation, it is clear that a number of the measures proposed in the exposure draft regulation have been postponed or adjusted.

The final regulation sets out the requirements for (i) ‘product dashboards’ for MySuper products; and (ii) disclosing information about executive officer remuneration and the fund.

The regulation also includes amendments relating to periodic statements and PDSs for superannuation products…

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