SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 2C - MYSUPER  

Division 5 - Fees rules for MySuper products  

SECTION 29VE   29VE   PERCENTAGE-BASED ADMINISTRATION FEES MAY BE CAPPED  


If, under the governing rules of a regulated superannuation fund:


(a) all or part of the administration fee in relation to a MySuper product is charged to those members of the fund who hold the product as a percentage of so much of the account balance of each of those members that relates to the MySuper product; and


(b) the amount of the administration fee is capped at a specified amount; and


(c) either:


(i) the cap is the same for all of those members; or

(ii) if the administration fee is charged at a reduced amount, in accordance with section 99G , in relation to one or more of those members - the cap is the same for all of the remainder of those members; and


(d) but for the fact that the administration fee is capped in that way, a charging rule in section 29VA would be satisfied in relation to the administration fee;

that charging rule is taken to be satisfied in relation to the administration fee.




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