Attribution of accrued default amount to MySuper product—modification of significant event notice requirements
7.9.11LB Attribution of accrued default amount to MySuper product—modification of significant event notice requirements
If a person:
is an RSE licensee; and
is exempted under subregulation 9.46(2) of the Superannuation Industry (Supervision) Regulations 1994 from notice requirements in relation to the attribution or transfer of an accrued default amount;
then, for paragraph 1020G(1)(c) of the Act, section 1017B of the Act applies to the person as if subsection 1017B(4) were omitted and the following subsection were substituted:
The notice must mention the following:
the accrued default amount that was attributed or transferred;
the name of the MySuper product to which the amount was attributed or transferred;
how the member may obtain a product disclosure statement for the MySuper product;
any other information that the member needs to understand the attribution or transfer.
This Act’s bill:Explanatory statement
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