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Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2012

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2010-2011-2012

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011

 

( 1 )     Clause  2 , page 2 (table item  2 ), omit “ 1 October 2013 ” (wherever occurring), substitute “ 1 January 2014 ”.

[application of rules relating to contributions]

( 2 )     Schedule  1 , item  9 , page 21 (after line 15) , at the end of section  29VA , add:

Lifecycle differentiated investment fees

             (9)  This rule is satisfied if:

                     (a)  the fee is an investment fee; and

                     (b)  the fee would satisfy one of the charging rules in subsections (2) to (4) if the rule were applied to an age cohort identified in the governing rules in relation to the MySuper product for the purposes of this subsection, rather than in relation to all members of the fund who hold the MySuper product; and

                     (c)  the governing rules identify no more than 4 age cohorts in relation to the MySuper product for the purposes of this subsection; and

                     (d)  the investment fees for the age cohorts reflect a fair and reasonable attribution of the investment costs of the fund between the age cohorts.

[lifecycle differentiated investment fees]

( 3 )     Schedule  1 , item  12 , page 26 (line 1) , omit “ 1 October 2013 ”, substitute “ 1 January 2014 ”.

[application of rules relating to contributions]

( 4 )     Schedule  1 , item  12 , page 26 (line 6) , omit “ 1 October 2013 ”, substitute “ 1 January 2014 ”.

[application of rules relating to contributions]

( 5 )     Schedule  1 , item  12 , page 26 (line 10) , omit “ 1 October 2013 ”, substitute “ 1 January 2014 ”.

[application of rules relating to contributions]

( 6 )     Schedule  1 , item  13 , page 26 (line 18) , omit “ 1 October 2013 ”, substitute “ 1 January 2014 ”.

[application of rules relating to contributions]