Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011 and Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012

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Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011 and Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012

19 March 2012

© Commonwealth of Australia 2012
ISBN 978-1-74229-604-3

View the report as a single document - (PDF 492KB)

View the report as separate downloadable parts:

Members of the Committee (PDF 29KB)
 
Duties of the Committee (PDF 21KB)
 
Abbreviations (PDF 4KB)
 
Recommendations (PDF 14KB)
 
Chapter 1 - Introduction (PDF 131KB)

Referral of the Bills
Conduct of inquiry
Acknowledgements
Notes on references
Background
Figure 1.1: 'Choice architecture' model
Support for the introduction of MySuper
Report structure
 
Chapter 2 - Overview of the proposed legislation (PDF 95KB)

Overview of the MySuper Core Provisions Bill
Trustee Obligations and Prudential Standards Bill
Commencement of the MySuper superannuation system
Further tranches—additional legislation to introduce the MySuper system
 
Chapter 3 - The tailoring exemption for large employers and the limits on tailoring within an organisation (PDF 56KB)

The tailoring exemption for large employers—proposed section 29TB
Tailoring MySuper products within the workforce of a large employer
 
Chapter 4 - Trustees obligations: the financial interests of beneficiaries, the 'scale test' and investment strategy (PDF 41KB)

Submitters' views on the scale test
Committee view
 
Chapter 5 - The proposed authorisation process of the Australian Prudential Regulatory Authority (PDF 54KB)

Submitters' concerns with the proposed authorisation processes
Committee view
Concluding comments
 
Coalition Members and Senators Dissenting Report (PDF 101KB)

Competition in the default superannuation market
General concerns on Authorisation requirements
The process to obtain a tailored large employer MySuper plan
The large employer threshold
The ‘scale test’
Intra Fund Advice
 
Appendix 1 - Submissions (PDF 5KB)

Submissions to Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011
Answers to questions on notice
Submissions to Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012
 
Appendix 2 - Public Hearing (PDF 5KB)

Friday 2 March 2012

For further information, contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Phone: +61 2 6277 3583
Fax: +61 2 6277 5719
Email: corporations.joint@aph.gov.au