Superannuation (prudential standard) determination No. 5 of 2024
Setting feesSetting fees
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Setting fees
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An RSE licensee must set each fee prudently and transparently. This includes demonstrating why the RSE licensee is satisfied, with respect to a fee charged to beneficiaries or a fee charged by the RSE licensee out of an RSE, that:
(a) the charging of the fee, including determining the amount of the fee, complies with its legal duties and obligations; and (b) the fee is appropriate and proportionate, having regard to factors such as the arm’s length value of the features and services that the fee relates to, comparable fees charged in relation to comparable RSEs and financial resources currently available to the RSE licensee.
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An RSE licensee must ensure that the use of any new fee power, or the use of an existing power for the first time, is approved by the Board.