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December 8, 2011

ASIC relief for superannuation estimates

ASIC has released Regulatory Guide 229 Superannuation forecasts (RG 229) and class order relief to assist superannuation fund trustees in providing their members with retirement estimates.

A retirement estimate is a simple, broad estimate of how much superannuation a member might receive when they retire. Retirement estimates are designed to help members think about how much money they will need when they retire, so they can start planning how to achieve this.

Superannuation fund trustees providing retirement estimates (which may be personal advice) have been granted class order relief in [CO 11/1227] Relief for providers of retirement estimates from the licensing, conduct and disclosure requirements for general and personal advice in the Corporations Act 2001.

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Posted 8th December 2011 by admin in Superannuation