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

35   At the end of section 29VB

Add:

(5) The total amount of the administration fee charged in relation to the employee members is at least equal to an amount that reasonably relates to costs that:

(a) are incurred by the trustee, or the trustees, of the fund in the administration and operation of the fund in relation to those members; and

(b) are not otherwise charged as an investment fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee.