Superannuation (prudential standard) determination No. 5 of 2024
Undertaking a transfer of MySuper producUndertaking a transfer of MySuper product assets
Start here
Get a plain-English read of Undertaking a transfer of MySuper produc
Turn the raw legal text into a practical explanation grounded in Superannuation (prudential standard) determination No. 5 of 2024.
Undertaking a transfer of MySuper product assets
- If an RSE licensee’s authority to offer a MySuper product is cancelled, the RSE licensee must:
(a) implement the MySuper assets transfer plan;
(b) report to APRA on progress of the transfer of MySuper product assets as required; and
(c) transfer the MySuper product assets to the receiving MySuper product.
-
An RSE licensee must provide all reasonable assistance to the receiving RSE licensee to ensure that the transfer of MySuper product assets to the receiving MySuper product is completed in accordance with this Prudential Standard.
-
An RSE licensee must notify APRA within 10 business days once the transfer of MySuper product assets has been completed.