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Issue 713, 28 June 2019 
In this issue: 

 

Changes to Protecting Your Super Legislation 

The Government has indicated to the Australian Prudential Regulation Authority (APRA) that it intends to amend the Protecting Your Super (PYS) legislation in response to matters raised by the superannuation industry. 

APRA has today stated the Government will seek to amend the Superannuation Industry (Supervision) Act 1993 (SIS Act) to provide that: 

APRA has indicated that although the proposed amendments will not be made before the legislation takes effect on 1 July 2019, APRA supports trustees proceeding on the basis that the amendments will become law in due course. 

APRA has updated its frequently asked questions on the implementation of the PYS legislation. 

ASFA is pleased with this outcome following extensive consultation with Treasury and constructive discussions with Government. 

 

 

ASFA REGULATORY WATCHLIST

ASFA’s Regulatory Watchlist (ARW) tracks developments in Legislation, inquiries, consultations

and other regulatory announcements relevant to superannuation.

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