Superannuation (prudential standard) determination No. 5 of 2024
Application and commencementApplication and commencement
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Application and commencement
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This Prudential Standard applies to all registrable superannuation entity (RSE) licensees (RSE licensees).[1]
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Paragraphs 33 to 43 only apply to an RSE licensee that is authorised, or was formerly authorised, to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product.[2]
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An RSE licensee is not required to comply, in relation to a pooled superannuation trust[3], with:
(a) paragraph 8 (only in relation to the Board being required to approve strategic objectives that support achieving outcomes for beneficiaries); (b) paragraphs 9(a), 9(b) and 9(g); (c) paragraph 10; (d) paragraphs 14 and 15; (e) paragraphs 21 to 24 inclusive (only in relation to outcomes for beneficiaries and section 62 of the SIS Act (‘the sole purpose test’)); (f) paragraphs 25 and 26(b) (only in relation to outcomes for beneficiaries, the sole purpose test and promoting the financial interests of beneficiaries); (g) paragraphs 27 to 29 inclusive; (h) paragraphs 30 to 32 inclusive (in relation to outcomes to beneficiaries, the annual performance assessment and a transfer of beneficiaries)[4]; and (i) paragraphs 33 to 43 inclusive.
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This Prudential Standard commences on 1 July 2025.