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 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

ASIC extends licensing relief to all trustees of registrable superannuation entities for consistent treatment under the law

18 June 2021

ASIC has extended existing licensing relief for public offer trustees to include all registrable superannuation entities to ensure that non-public offer trustees are regulated consistently with public offer trustees under the Corporations Act 2001.

Read the media release

Internal dispute resolution (IDR) in superannuation: Transition from RG 165 to RG 271 from 5 October 2021

28 April 2021

ASIC Commissioner Danielle Press wrote to all superannuation trustee CEOs recently, highlighting the importance of CEO level engagement with the obligations set out in Regulatory Guide 271 – Internal Dispute Resolution (RG 271). These obligations commence 5 October 2021. ASIC is also seeking information from the superannuation industry to understand progress of their preparations for RG 271.

Read the letter (PDF 90 KB)

ASIC’s expectations about new internal dispute resolution requirements for superannuation trustees

March 2021

Regulatory Guide 271: Internal dispute resolution (RG 271) was released in July 2020 and contains updated standards and requirements that will drive financial services firms to ensure they handle consumer complaints in a fair and timely manner.

Jane Eccleston, ASIC’s Superannuation Senior Executive Leader, explains what the changes mean for trustees and outlines ASIC’s expectations.

Read the article

ASIC releases advice fee consent and lack of independence disclosure legislative instruments

25 March 2021

ASIC has made three legislative instruments that deal with advice fee consents and independence disclosure following Royal Assent of the Financial Sector Reform (Hayne Royal Commission Response No.2) Act 2021 earlier this month.

Read the media release

Insurance in super: Turning data into outcomes

12 March 2021

Recent changes to superannuation laws have created many immediate pressures and opportunities for trustees. One opportunity trustees have now is to think holistically about their systems and processes: can they be improved to deliver better outcomes for members and avoid poor outcomes that may only become apparent years down the track? Jane Eccleston, ASIC’s Superannuation Senior Executive Leader, discusses some of ASIC’s recent work on insurance in superannuation and how trustees can use data to improve the insurance they provide to members.

Read the article

Temporary arrangements for trustees notifying ASIC of new responsible managers

5 March 2021

Following recent feedback from the industry, as a temporary measure, ASIC will not require trustees notifying ASIC of the appointment of new responsible manager(s) for the provision of a superannuation trustee service, to provide proof documents that would usually be required at the time of notification.

Read more

Reforms of the core regulatory framework for superannuation

4 February 2021

Government reforms that expand ASIC’s role in superannuation commenced on 1 January 2021. The reforms enable ASIC to play a more effective role in regulating conduct in the superannuation industry to promote better consumer outcomes and market integrity. Jane Eccleston, ASIC’s Superannuation Senior Executive Leader, explains what the reforms mean for trustees, ASIC’s approach to the changes, and how ASIC and APRA will continue to work together as co-regulators of superannuation.

Read the article

More super news and reports

Last updated: 30/03/2021 09:23