Contents of section 1 (About [name of superannuation product])
3 Contents of section 1 (About [name of superannuation product])
Section 1 of the Product Disclosure Statement must:
describe, in the form of a summary, the superannuation entity and the MySuper products and other investment options offered by the entity; and
include a statement of where, on the entity’s website, the member can find:
the product dashboard for each MySuper product and choice product in the entity; and
each trustee and executive remuneration disclosure for the entity, and any other document that must be disclosed for the entity under the SIS Regulations; and
a statement describing the entity’s process for transitioning each member whose interest includes an accrued default amount from an existing default option to a MySuper product by 1 July 2017.
Paragraph (1)(c) applies until the earlier of:
1 July 2017; and
the day on which the entity has attributed each accrued default amount in the entity to a MySuper product.
Putting the information mentioned in paragraph (1)(b) onto the superannuation fund’s website does not amount to adding the information to the Product Disclosure Statement.
This Act’s bill:Explanatory statement
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