Changes to ASIC relief and guidance for superannuation forecasting tools, including an updated regulatory guide and legislative instrument, are expected to be finalised before the current provisions sunset on 1 April 2022.
This follows the closure of the consultation period for CP 351 in which ASIC has proposed changes to the default assumptions used in calculators and a move to principles-based disclosure requirements. If the changes are made as proposed, trustees would also be permitted to offer retirement estimates on a more frequent basis to members.
In this Super Update, we evaluate the proposals and look at the impacts for funds, particularly around the possible exclusion of the age pension from static retirement estimates. We also report on APRA’s Choice and MySuper heatmaps and the recent emphasis by APRA on financial resilience.
As usual, we provide a comprehensive legislative update, while our news in brief includes the FSC standard on group insurance occupational exclusions and the latest APRA statistical publications.
| Title | File Type | File Size |
|---|---|---|
| Super Update: ASIC relief changes proposed on calculators and retirement estimates | .2 MB |
