Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 (171 of 2012)
Schedule 1 Fees and costs
Part 1 Amendments
Superannuation Industry (Supervision) Act 1993
33 At the end of section 29VA
Add:
Advice fees
(9) This rule is satisfied if:
(a) the fee is an advice fee that relates directly to financial product advice provided to a member; and
(b) the member holds a MySuper product; and
(c) the fee is charged to the member.
Insurance fees
(10) This rule is satisfied if:
(a) the fee is an insurance fee that relates directly to either or both of the following:
(i) insurance premiums paid by the trustee, or the trustees, of a superannuation entity in relation to a member;
(ii) costs incurred by the trustee, or the trustees, of a superannuation entity in relation to the provision of insurance for a member; and
(b) the member holds a MySuper product; and
(c) the fee is charged to the member.