Corporations Regulations 2001

Section 5 of the Product Disclosure Statement must describe, in the form of a summary:

the MySuper products and investment options being offered; and

what happens if the person does not make a choice of where to invest.

Section 5 must state, in the form of a warning, that the person must consider:

the likely investment return; and

the risk; and

the person’s investment timeframe;

For at least one MySuper product or investment option, section 5 must:

state the name of the MySuper product or investment option and give a short description of it, including the type of investors for whom it is intended to be suitable; and

list the asset classes in which the MySuper product or investment option invests, and set out, in the form of a range or otherwise, the strategic asset allocation of the asset classes; and

describe the investment return objective of the MySuper product or investment option; and

state the minimum suggested time frame for holding the MySuper product or investment option; and

describe, in the form of a summary, the risk level of the MySuper product or investment option.

If the superannuation product includes a generic MySuper product, section 5 must give the information mentioned in subclause (3) for the generic MySuper product, whether or not section 5 gives that information for another MySuper product or investment option.

If the superannuation product does not include a generic MySuper product, and has a balanced investment option (within the meaning given by clause 101 of Schedule 10), section 5 must give the information mentioned in subclause (3) for the balanced investment option under which most assets of the superannuation entity are invested, whether or not section 5 gives that information for any MySuper product or other investment option.

If the superannuation product does not include a generic MySuper product or a balanced investment option (within the meaning given by clause 101 of Schedule 10), section 5 must give the information mentioned in subclause (3) for the investment option under which most assets of the superannuation entity are invested, whether or not section 5 gives that information for any MySuper product or other investment option.

Section 5:

must make provision for each MySuper product and investment option which is not presented in section 5 in accordance with subclause (3), (4), (5) or (6); and

may make provision for the MySuper product or investment option by applying, adopting or incorporating matter in a document that:

includes the information mentioned in subclause (3); and

presents it in the way mentioned in the subclause.

The superannuation trustee:

must provide information about how a person may switch the person’s investments; and

whether the superannuation product’s MySuper products and investment options may be changed and, if so, how; and

must describe, in the form of a summary, the extent to which labour standards or environmental, social or ethical considerations are taken into account in the selection, retention or realisation of investments relating to the superannuation product; and

may provide the information in paragraphs (a) to (c), and any additional information about MySuper products or investment options, by applying, adopting or incorporating a matter in writing.