Superannuation Laws Amendment (MySuper Capital Gains Tax Relief and Other Measures) Act 2013 (89 of 2013)

Schedule 3   Default superannuation

Fair Work Amendment Act 2012

11   Item 13 of Schedule 1 (after new subsection 149D(1))

Insert:

Superannuation funds offering employer MySuper products on the schedule

(1A) A default fund term of a modern award must permit an employer covered by the award to make contributions, for the benefit of a default fund employee, to a superannuation fund that offers an employer MySuper product that:

(a) relates to the employer; and

(b) is on the Schedule of Approved Employer MySuper Products.

Note: The Schedule of Approved Employer MySuper Products is made during a 4 yearly review of default fund terms of modern awards under Division 4A of Part 2-3.