Document ID: chunk:federal_register_of_legislation:C2025C00134:section:29va:p3
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 29VA (pt 3/4)
Character Range: 245286–247906

administration fee charged in relation to one or more members of the fund who hold the MySuper product in accordance with the administration fee exemption for employees of an employee‑sponsor (see section 29VB); and
 (b) in relation to those members of the fund who hold the MySuper product but in relation to whom the administration fee is not charged in accordance with the administration fee exemption for employees of an employee‑sponsor (the remaining members)—the fee would satisfy the charging rule in subsection (2), (3) or (4) if the remaining members were the only members of the fund who held the MySuper product.
Note: In some circumstances, the RSE licensee may wish to offer a MySuper product for the employees of a large employer or its associates (see sections 29T and 29TB). Any fee set for that MySuper product may differ from the equivalent fee set for another MySuper product within the fund. In other circumstances, a separate MySuper product may not be offered, but instead a lower administration fee charged to the employees of a particular employer‑sponsor (see section 29VB).

Lifecycle differentiated investment fees
 (9) This rule is satisfied if:
 (a) the fee is an investment fee; and
 (b) the fee would satisfy one of the charging rules in subsections (2) to (4) if the rule were applied to a subclass of the members of the fund who hold the MySuper product to whom gains and losses from different classes of asset of the fund may be streamed in accordance with a lifecycle exception, rather than in relation to all members of the fund who hold the MySuper product; and
 (d) the investment fees for each such subclass reflect a fair and reasonable attribution of the investment costs of the fund between all such subclasses.

Advice fees
 (9A) This rule is satisfied if:
 (a) the fee is an advice fee that relates directly to financial product advice provided to a member; and
 (b) the member holds a MySuper product; and
 (c) the fee is charged to the member; and
 (d) the fee is to be paid in accordance with the terms of an arrangement entered into by the member; and
 (e) the arrangement is not an ongoing fee arrangement.

Insurance fees
 (10) This rule is satisfied if:
 (a) the fee is an insurance fee that relates directly to either or both of the following:
 (i) insurance premiums paid by the trustee, or the trustees, of a superannuation entity in relation to a member;
 (ii) costs incurred by the trustee, or the trustees, of a superannuation entity in relation to the provision of insurance for a member; and
 (b) the member holds a MySuper product; and
 (c) the fee is charged