Coronavirus (COVID-19) updates from the Australian Government

Stronger Super Regulations - Insurance and MySuper

This consultation process has now been completed.
Date
-
Consultation Type
Draft Regulations

Key Documents

The regulations give effect to changes arising from legislation implementing MySuper and governance reforms.  The proposed regulations will amend the Corporations Regulations 2001, Superannuation Guarantee (Administration) Regulations 1993, and Superannuation Industry (Supervision) Regulations 1994.

The exposure draft regulations contain provisions relating to: significant event notice requirements; insurance requirements in respect of death; meaning of permanent incapacity; operating standards on self-insurance and permitted types of insurance; successor fund transfer rules not applying to the transfer of accrued default amounts; notification for accrued default amounts attributed to the MySuper product; and an exemption from providing opt‑out life and total and permanent disability insurance.

The remaining regulation changes for Stronger Super MySuper and Governance will be released in coming months.

Submissions

No submissions are currently available.