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APRA releases draft guidance on MySuper transition

11 Oct 2012
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The Australian Prudential Regulation Authority (APRA) has released for public consultation its draft guidance SPG 410 MySuper Transition.

The guidance is intended to assist registerable superannuation entity (RSE) licensees to meet their obligations under Prudential Standard SPS 410 MySuper Transition which was released as a final draft on 3 October 2012. SPS 410 sets out requirements for the movement of accrued default amounts into a suitable MySuper product before 1 July 2017.

Consultation on the draft guide closes on 5 November 2012 and the final guide is expected to be finalised by December 2012. The draft guide is available on the APRA website – click here.

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