Exposure Draft – Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Bill 2012
This exposure draft represents the next tranche of legislation implementing the Government's Stronger Super reforms. The exposure draft contains provisions relating to superannuation fees, intra-fund advice, insurance, collection and disclosure of information, default funds in modern awards and enterprise agreements, moving accrued default balances to MySuper, an exception for defined benefit funds and new requirements for eligible rollover funds.
The remaining Stronger Super MySuper and Governance changes will be released in the fourth tranche of legislation in coming months.
Consultation Documents
| DOC | ||
|---|---|---|
| Exposure Draft | 361KB | 116KB |
| Explanatory Memorandum | 359KB | 372KB |
Submissions
Submissions for this consultation closed on Wednesday, 16 May 2012.
Thirty three submissions were received in response to this consultation. Twenty five of these are public submissions and eight are confidential. The public submissions are listed below.
| RTF | ||
|---|---|---|
| Actuaries Institute | 274KB | n/a |
| Association of Superannuation Funds of Australia (ASFA) | 111KB | n/a |
| Association of Financial Advisers (AFA) | 101KB | n/a |
| Australian Chamber of Commerce and Industry (ACCI) | 1.7MB | n/a |
| Australian Council of Super Investors (ACSI) | 337KB | n/a |
| Australian Institute of Company Directors | 2.0MB | n/a |
| Australian Institute of Superannuation Trustees (AIST) | 706KB | n/a |
| BT Financial Group (BTFG) | 159KB | n/a |
| Chartered Secretaries Australia | 118KB | n/a |
| Corporate Super Specialist Alliance (CSSA) | 66KB | n/a |
| Corporate Super Association | 1.8MB | n/a |
| CPA Australia | 177KB | n/a |
| Financial Services Council (FSC) | 415KB | n/a |
| First State Super | 968KB | n/a |
| Henry Davis York | 1.8MB | n/a |
| Industry Super Network | 310KB | n/a |
| Law Council of Australia | 193KB | n/a |
| Master Electricians Australia | 1.2MB | n/a |
| Office of the Australian Information Commissioner | 525KB | n/a |
| Professional Financial Solutions | 154KB | n/a |
| Self Managed Superannuation Funds Professionals' Association of Australia (SPAA) | 324KB | n/a |
| Towers Watson (a) | 502KB | n/a |
| Towers Watson (b) | 48KB | n/a |
| UniSuper | 494KB | n/a |
| VicSuper | 922KB | n/a |
The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or The Treasury.
