Treasury Laws Amendment (Your Future, Your Super - Addressing Underperformance in Superannuation) Regulations 2021 (F2021L01077)
Schedule 1 Amendments
Superannuation Industry (Supervision) Regulations 1994
3 Before regulation 4.01
Insert:
4.01A Covenants in governing rules of superannuation entity - trustee's determination and benchmarks
MySuper products
(1) For the purposes of subparagraph 52(9)(a)(i) of the Act, subregulation (2) specifies a benchmark in relation to a MySuper product.
(2) The benchmark is the requirement in subsection 60D(1) of the Act having been met for the product in relation to the most recently ended financial year.
Choice products
(3) For the purposes of subparagraph 52(9)(a)(ii) of the Act, subregulation (4) specifies a benchmark in relation to a choice product that is a Part 6A product.
(4) The benchmark is the requirement in subsection 60D(1) of the Act having been met for the product in relation to the most recently ended financial year.
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