Document ID: chunk:federal_register_of_legislation:C2025C00134:section:52:p5
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 52 (pt 5/6)
Character Range: 371378–374210

for the purposes of this subparagraph; and
 (ii) if the product is a choice product—a comparison of the choice product with the comparable choice products in relation to the choice product, based on factors mentioned in subsection (10A), and a comparison of the choice product with any other benchmarks specified in regulations made for the purposes of this subparagraph; and
 (iii) the factors mentioned in subsection (11); and
 (iv) the latest determination (if any) made by APRA under subsection 60C(2) for the product;
 (aa) to determine, in writing, on an annual basis, whether each trustee of the entity is promoting the financial interests of the beneficiaries of the fund, as assessed against benchmarks specified in regulations made for the purposes of this paragraph;
 (b) to make the determination referred to in paragraph (a), and a summary of the assessments and comparisons on which the determination is based, publicly available on the website of the entity;
 (c) to do so within 28 days after the determination is made;
 (d) to keep the determination, and the summary of the assessments and comparisons on which the determination is based, on the website until a new determination is made as referred to in paragraph (a).
 (10) In comparing a MySuper product with other MySuper products, the trustees must compare each of the following:
 (a) the fees and costs that affect the return to the beneficiaries holding the MySuper products;
 (b) the return for the MySuper products (after the deduction of fees, costs and taxes);
 (c) the level of investment risk for the MySuper products;
 (d) any other matter set out in the prudential standards.
 (10A) In comparing a choice product with the comparable choice products in relation to the choice product, the trustees must compare each of the following:
 (a) the fees and costs that affect the return to the beneficiaries holding the choice products;
 (b) the return for the choice products;
 (c) the level of investment risk for the choice products;
 (d) any other matter specified in the prudential standards.
 (11) In determining whether the financial interests of the beneficiaries of the entity who hold a MySuper product or choice product are being promoted by the trustee, the trustee must assess each of the following:
 (a) whether the options, benefits and facilities offered under the product are appropriate to those beneficiaries;
 (b) whether the investment strategy for the product, including the level of investment risk and the return target, is appropriate to those beneficiaries;
 (c) whether the insurance strategy for the product is appropriate to those beneficiaries;
 (d) whether any insurance fees charged in relation to the product inappropriately erode the retirement income of those beneficiaries;
 (e) any other relevant matters, including any