Superannuation Industry (Supervision) Act 1993

The employer‑sponsor contribution exception applies for a QE day to a member of regulated superannuation fund to, or in respect of, whom a benefit is provided by the fund under a choice product or MySuper product held by the member by taking out or maintaining insurance if:

an employer‑sponsor notifies the trustee of the fund in writing that the employer‑sponsor will pay insurance fees relating to the benefit for the member; and

the member is:

an employee of the employer‑sponsor, or an associate of the employer‑sponsor; or

the relative or dependant of such an employee; and

the QE day is after the employer‑sponsor notifies the trustee under paragraph (a); and

the amount the employer‑sponsor contributes to the fund for the QE day exceeds the amount that the employer‑sponsor would need to contribute to avoid an individual base superannuation guarantee shortfall that is greater than nil for the member and the QE day; and

that excess is equal to or greater than the insurance fees relating to the benefit for the QE day.

In this section: