Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:10d_8:p2
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 10D cl 8 (pt 2/2)
Character Range: 2320259–2322165

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 must:
 (a) apply, adopt or incorporate the definitions in relation to fees mentioned in section 29V or subsection 99BA(2) of the SIS Act; and
 (b) include the address of a link to the definitions maintained on a website.
 (7) Section 6 must give a worked example for each MySuper product or investment option described in section 5.
 (7A) The example given must be in accordance with Divisions 5 and 6 of Schedule 10 (including the definitions applicable to those Divisions).
 (8) Section 6:
 (a) must refer to the calculator provided by ASIC on its FIDO website or a similar website operated by or on behalf of ASIC; and
 (b) may also refer to the calculator (if any) provided by the superannuation trustee on its website; and
 (c) must state that each calculator referred to can be used to calculate the effect of fees and costs on account balances.
 (9) If additional fees may be payable to a financial advisor, section 6 must:
 (a) state, in the form of a warning, that additional fees may be paid to a financial advisor if a financial advisor is consulted; and
 (b) refer to the Statement of Advice in which details of the fees are set out; and
 (c) if applicable:
 (i) state that fees may be paid to the employer entity's financial adviser; and
 (ii) explain how the fees are determined.
 (10) The superannuation trustee:
 (a) must provide the fees and costs of each of the MySuper products and investment options in accordance with Schedule 10, and may do so by applying, adopting or incorporating a matter in writing; and
 (b) may provide more detailed information about fees and costs by applying, adopting or incorporating a matter in writing.