Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 2) Bill 2017

Bill home page  


Download WordDownload Word


Download PDFDownload PDF

8302 revised

2016-2017-2018

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 2) Bill 2017

 

 

( 1 )     Schedule  1 , item  6 , page 4 (lines 3 and 4) , omit the item, substitute:

6  Paragraph 32C(6)(h)

Repeal the paragraph, substitute:

                     (h)  an enterprise agreement:

                              (i)  made before 1 January 2019; or

                             (ii)  if the agreement includes a restriction on the choice of superannuation funds—made on or after 1 January 2019; or

[choice of fund]

( 2 )     Schedule  1 , page 4 (after line 16) , after item  7 , insert:

Fair Work Act 2009

8  At the end of section 187

Add:

Requirement relating to restrictions of choice of superannuation fund

             (7)  If the agreement includes a restriction on the choice of superannuation fund or funds available to employees, the FWC must be satisfied that the restriction is in the interests of the employees who will be covered by the agreement.

             (8)  For the purposes of considering whether the restriction is in the interests of the employees, the FWC must consider:

                     (a)  the extent to which the employers who will be covered by the agreement have complied, or are likely to comply, with the requirements of the Superannuation Guarantee (Administration) Act 1992 ; and

                     (b)  the features of the proposed default superannuation fund or funds, including matters such as insurance; and

                     (c)  any other relevant matters.

[choice of fund]