Superannuation funds

This section gives guidance about superannuation reforms, compliance requirements for superannuation trustees, and ASIC's role in super.

 

ASIC's role in super

ASIC is principally responsible for the enforcement of the Corporations Act 2001 (Corporations Act) which regulates the conduct and disclosure obligations of financial services providers (including superannuation trustees that hold an Australian financial services (AFS) licence).

As the conduct and disclosure regulator, ASIC’s role primarily concerns the relationship between trustees and individual consumers. ASIC aims to look after consumers ensuring they receive proper disclosure, are dealt with fairly by qualified people, continue to receive useful information about their investment or product and can access proper complaints-handling procedures. Promoting investor and financial consumer trust and confidence is one of ASIC's strategic priorities.

More about ASIC's role in super (including the role of co-regulators).

Superannuation guidance and relief

Read our guidance on specific topics, including FAQs, letters to trustees and ASIC relief.

Super industry liaison

Find out about ASIC's superannuation industry liaison plan and engagement schedule.

Superannuation media releases

Read our media releases on superannuation.

Further resources on superannuation

This page lists helpful links on superannuation.

Related information

TopicDescription
Financial services Includes helpful links to information including legislation, media releases, our frequently asked questions.
Regulatory index Download regulatory documents and class orders relevant to superannuation trustees and administrators.
MoneySmart website Includes information for consumers about superannuation.

 

What's new

Insurance in Superannuation Voluntary Code of Practice

4 October 2019

ASIC has issued a letter to superannuation industry associations, outlining our observations and concerns about the implementation of the Insurance in Super Voluntary Code of Practice.

Read the letter

ASIC remakes instrument about departed former temporary residents’ unclaimed superannuation disclosure

ASIC has remade Class Order [CO 09/437] Departed former temporary residents superannuation – Disclosure relief, which was due to expire on 1 October 2019.

Read the media release  

View the instrument

Trustees warned about influencing employers through improper inducements

ASIC has issued guidance to superannuation trustees, reminding them that using improper inducements to influence employers in their choice of default fund is illegal.

Read the media release Read INFO 241

Lifting the Bar, Superfunds June 2019

ASIC is urging superannuation trustees to prioritise member interests when handling insurance claims and complaints.

In this month’s Superfunds magazine, Senior Executive Leader for Superannuation, Jane Eccleston explains why change is necessary and how small improvements can make a big difference for super fund members.

Read the article (PDF 376KB)

Member communications associated with the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018

11 April 2019

ASIC has issued a letter to superannuation industry associations to highlight expectations relating to member communications associated with the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018, particularly in relation to initial insurance cancellation notices to be issued by 1 May 2019.

Read the letter

ASIC and APRA publish joint letter on superannuation fees

10 April 2019

ASIC and APRA have published a joint letter to all registrable superannuation entity licensees to reinforce the importance of ensuring fees charged to members are in line with the members’ best interests.

Read the release and joint letter

Roundtable meetings on fees and cost disclosure

5 March 2019

ASIC held roundtable meetings on the RG 97 fees and costs disclosure regime:

- in Sydney on Monday 4 March 2019 at ASIC’s office at 100 Market Street, and

- in Melbourne on Tuesday 5 March 2019 at ASIC’s office at 120 Collins Street.

Find out more


Last updated: 31/07/2019 02:51