Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:10d_8:p1
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 10D cl 8 (pt 1/2)
Character Range: 2317760–2320511

8  Contents of section 6 (Fees and costs)
 (1) For each MySuper product or investment option within a superannuation product that is presented in section 5 in detail in accordance with subclause 7(3), section 6 of the Product Disclosure Statement must state:
 (a) the cost of acquiring the MySuper product or investment option; and
 (b) the fees and costs that are charged in relation to the MySuper product or investment option.
Note: The statement will be made using the template set out in subclause (3).
 (2) Before setting out any other substantive material, section 6 must:
 (a) set out the Consumer Advisory Warning in clause 221 of Schedule 10; and
 (b) give a concise example in the form set out in the Consumer Advisory Warning in clause 221 of Schedule 10.
 (3) Section 6 must set out the fees and costs for each MySuper product or other investment option that is presented in section 5 in detail in accordance with subclause 7(3), using the following templates:

[Name of superannuation product]
Type of fee                                                                             Amount  How and when paid
Investment fee¹
Administration fee¹
Buy‑sell spread
Switching fee
Advice fees
relating to all members investing in a particular MySuper product or investment option
Other fees and costs²
Indirect cost ratio¹

1. If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity's income year, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.
2. [If there are other fees and costs, such as activity fees, advice fees for personal advice or insurance fees, include a cross‑reference to the "Additional Explanation of Fees and Costs".]
 (4) The template is to be completed in accordance with Division 3 of Schedule 10 (including definitions applicable to that Division), except that:
 (a) clauses 203, 205, 206 and 207 and subclause 208(2) do not apply; and
 (b) the reference in clause 204 to clause 205 and clause 206 does not apply; and
 (c) the example in subclause 208(1) is to be treated as stating:
  "(for example, by using an asterisk with a footnote stating 'The amount of this fee can be negotiated')".
 (5) Section 6 must set out the information about fee changes set out in paragraph 209(k) of Schedule 10.
 (6) Section 6 must:
 (a) state that the information in the template can be used to compare costs between different superannuation products; and
 (b) state concisely, and in general terms, that fees and costs can be paid directly from the person's account or deducted from investment returns.
 (6A) Section 6