Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (16 of 2019)

Schedule 2   Insurance for superannuation members

Part 1   Amendments

Superannuation Industry (Supervision) Act 1993

2   After subsection 68AA(8)

Insert:

Inactive accounts

(8A) This section does not require the provision of death benefit in respect of a MySuper member of a regulated superannuation fund, if death benefit is not to be provided in respect of the MySuper member by taking out or maintaining insurance because of section 68AAA.

(8B) This section does not require the provision of permanent incapacity benefit to a MySuper member of a regulated superannuation fund, if permanent incapacity benefit is not to be provided in respect of the MySuper member by taking out or maintaining insurance because of section 68AAA.