Product dashboard

MySuper product dashboard

Information Sheet 170 (INFO 170) contains detailed information about the MySuper product dashboard requirements for superannuation trustees.

In 2013, ASIC conducted consumer testing of the MySuper product dashboard. For more information see:

Choice product dashboard

The start date for choice product dashboard requirements has been deferred until 1 July 2023 (see ASIC Corporations (Amendment) Instrument 2019/240), which amended ASIC Class Order [CO 14/443].

The deferral also extends previous relief that allows registrable superannuation entities (RSE) licensees to provide a product dashboard with a periodic statement by including a website address for the latest product dashboard, rather than requiring a hard copy of the dashboard to be included with the periodic statement.

Read more about the deferral.

In 2015, ASIC conducted consumer testing of the Choice product dashboard. For more information see:

Including additional content on a website alongside product dashboards

The product dashboard provisions do not expressly prohibit RSE licensees from including additional information on their website alongside the product dashboard. For example, an RSE licensee may wish to include further information about risk or refer a member to the information about risk that is available in the PDS for the product. However, an RSE licensee should observe good disclosure principles in giving additional content to ensure that the presentation of the product dashboard is still helpful for consumers and is not misleading or deceptive. For useful information see ASIC's Regulatory Guide 234 Advertising financial products and advice services: Good practice guidance (RG 234).

What's new

Member communication must be crystal clear, says ASIC

4 March 2020

PYSP reforms: Trustees must provide members with accessible, accurate and actionable information.

Read the article

ASIC and APRA welcome law reform on superannuation regulator roles

14 February 2020

ASIC and APRA have jointly welcomed the proposed legislative reforms increasing the role of ASIC in superannuation.  

Read the media release

Report on PYSP Act implementation by superannuation fund trustees

12 February 2020

Report 655 details our review of trustee communications to superannuation fund members in relation to the Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (PYSP Act).

Read the media release

Read the report

ASIC's focus in superannuation

This article by Jane Eccleston, Senior Executive Leader – Superannuation, ASIC, was first published in ASFA’s Superfunds November 2019 edition.

Read the article

Superannuation industry urged to focus on improving insurance outcomes for members

13 December 2019

ASIC has released a report on the superannuation industry’s progress in improving consumer outcomes in relation to life insurance provided through superannuation. Read the media release.

ASIC Commissioner Danielle Press has encouraged the industry to read the report and make meaningful improvements in relation to their insurance offering for the benefit of consumers.

Report on financial advice provided by superannuation funds 

3 December 2019        

Report 639 examines the ways in which superannuation funds help members obtain financial advice and the quality of personal advice obtained through the funds.

Read the media release

Updated RG 97 on fees and cost disclosure

29 November 2019

ASIC has released updated guidance on fees and cost disclosure for issuers of superannuation and managed investment products.

Read the media release

Letter to trustees on new rules for Putting Members’ Interests First

30 October 2019

ASIC has issued a letter to superannuation industry associations to highlight expectations relating to member communications associated with the Treasury Laws Amendment (Putting Members’ Interests First) Act 2019 and further member communications associated with the Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019.

Read the letter

Read the media release

Read APRA’s letter and FAQs 

ASIC extends relief for portfolio holdings disclosure

29 October 2019

ASIC has amended ASIC Class Order [CO 14/443] to provide legal certainty about the first reporting day for portfolio holdings disclosure, given the regulations setting out the required disclosures have not yet been made.

Read the media release

ASIC has released Report 633

17 October 2019

ASIC’s review of total and permanent disability (TPD) insurance found a number of poor consumer outcomes. 13.4 million Australians hold this kind of cover – 90% of which are held through their super funds.

ASIC Report 633 reveals restrictive definitions mean many consumers can’t rely on TPD cover when they need it the most. ASIC also found poor claims handling processes and a lack of data lead to consumer harm.

Senior Executive Leader of the Insurers Team, Emma Curtis, and Senior Executive Leader of the Superannuation Team, Jane Eccleston, delve further as to how the insurance and superannuation industry can do better in ASIC’s podcast.

Listen to the podcast

Read the report

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

More super news and reports

Last updated: 13/11/2019 04:23