Treasury Laws Amendment (Protecting Your Superannuation Package) Regulations 2019 (F2019L00539)

Schedule 1   Amendments

Part 1   Amendments

Corporations Regulations 2001

20   At the end of subclause 303(1) of Schedule 10

Add:

; (c) a statement that if the account balance for a MySuper product or a choice product offered by the superannuation entity is less than $6,000 at the end of the entity's income year:

(i) the total combined amount of administration fees, investment fees and indirect costs charged in relation to the MySuper product or a choice product is capped at 3% of the account balance; and

(ii) any amount charged in excess of that cap must be refunded.