12 Mar 2014

Clock ticking for trustees wanting to continue to offer their MySuper product to award employees

The Fair Work Commission has issued notices inviting applications to have MySuper products listed on the Default Superannuation List and the Schedule of Approved Employer MySuper Products.

Superannuation trustees who wish to offer a MySuper product to default fund employees who are covered by modern awards must lodge applications by Monday 28 April 2014.

Application forms are now on the Fair Work Commission's website. A trustee's application needs to make the best available case for its MySuper product(s) being included on the Default Superannuation List or the Schedule of Approved Employer MySuper Products and be evidence based, in order to deter adverse submissions being made in relation to the application.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.