Page 1

CLIENT UPDATE February 2010

Changes to Superannuation Disclosure Rules Summary The long term superannuation disclosure rules which require superannuation trustees to disclose five-year and ten-year returns in periodic statements are to be streamlined.

The Corporations Regulations require superannuation fund trustees to disclose five-year and ten-year returns in periodic statements. The Government has proposed amendments to the long-term performance disclosure regulations to: •

Exclude exit statements;

Allow trustees to provide five-year performance information until 30 June 2011 by way of inserts;

Exempt ‘traditional’ funds (ie. funds of an insurance nature) from the requirements; and

Allow approved deposit funds and pooled superannuation trusts to provide annual reports online (consistent with regulated superannuation funds).

The Government will consult the superannuation industry in preparing the legislative amendments. Paul Cleary has considerable experience in the provision of specialist financial services and would be pleased to offer strategic superannuation legal advice.

TURKSLEGAL

CLIEN T U P D A T E


For more information, please contact: Paul Cleary Partner Insurance & Financial Services TurksLegal T: 02 8257 5760 M: 0407 052 170 paul.cleary@turkslegal.com.au

Sydney | Level 29, Angel Place, 123 Pitt Street, Sydney, NSW 2000 | T: 02 8257 5700 | F: 02 9239 0922 Melbourne | Level 10 (North Tower) 459 Collins Street , Melbourne, VIC 3000 | T: 03 8600 5000 | F: 03 8600 5099 Insurance & Financial Services | Commercial Disputes | Workers Compensation | Business & Property

TURKSLEGAL

www.turkslegal.com.au

CLIEN T U P D A T E

Changes to Superannuation Disclosure Rules  

The long term superannuation disclosure rules which require superannuation trustees to disclose five-year and ten-year returns in periodic s...

Read more
Read more
Similar to
Popular now
Just for you