Superannuation Industry (Supervision) Amendment (Your Future, Your Super - Addressing Underperformance in Superannuation) Regulations 2023 (F2023L01063)

Schedule 1   Main amendments

Superannuation Industry (Supervision) Regulations 1994

5   Regulation 9AB.1

Insert:

gross investment return net of fees :

(a) of a standard Part 6A product in relation to a quarter, means the Part 6A product's gross investment return net of fees in relation to the quarter, as reported to APRA in accordance with the applicable investment performance standard; and

(b) of a lifecycle Part 6A product in relation to a lifestage and a quarter, means the Part 6A product's gross investment return net of fees in relation to the lifestage and the quarter, as reported to APRA in accordance with the applicable investment performance standard.

hybrid platform TDP means a platform TDP that is offered through one or more investment menus of the generic type or the lifecycle option type (in addition to investment menus of the platform type), as reported to APRA in accordance with the applicable RSE structure standard.

IEH percentage , IEU percentage and IFI percentage have the meanings given by subregulation 9AB.5A(6).

index has the meaning given by regulation 9AB.5A.

initial quarter of a Part 6A product means the first quarter in relation to which the trustee of the superannuation entity that offers the Part 6A product reported to APRA, in accordance with the applicable investment performance standard, a net investment return or gross investment return net of fees of the Part 6A product.

investment pathway : if there is a choice of different ways of investing in a Part 6A product, as reported to APRA in accordance with the applicable RSE structure standard, each of those ways is an investment pathway of the Part 6A product.

investment pathway weight has the meaning given by subregulation 9AB.4A(9).