What is a superannuation administrator?
Our superannuation fund management and administration service ensures that comprehensive fund records are kept in strict compliance with the Superannuation Industry (Supervision) Act.
What is the Superannuation Industry Supervision Act?
The SIS Act outlines that any member of an SMSF, along with anyone who is related to a member by blood, marriage or business association, is deemed to be a ‘related party’ of the SMSF.
Who are the main four regulators of superannuation?
The superannuation sector is highly regulated. The super sector is regulated by The Australian Taxation Office (ATO), Australian Securities and Investment Commission (ASIC) and The Australian Prudential Regulation Authority (APRA).
What is the role of a superannuation trustee?
In a super fund, the board of trustees (or directors) is the trustee of the trust and holds legal title and ownership of the fund’s assets on behalf of the members. At all times, however, the beneficial interests of the fund’s assets – including the income and capital – belong to the fund’s members.
Is Mercer An APRA fund?
Mercer Super Trust ABN Number: The RSE number, otherwise referred to as a Registerable Superannuation Entity Number, are issued to a superannuation to denote they’re registered with the Australian Prudential Regulation Authority (APRA).
Who is considered a dependent under the Super Industry Supervision Act SIS Act?
subject to subsection (1A). “dependant” , in relation to a person, includes the spouse of the person, any child of the person and any person with whom the person has an interdependency relationship.
Who controls superannuation in Australia?
ASIC is the regulator responsible for the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001 (ASIC Act). These acts regulate the conduct and disclosure obligations of financial services providers, including superannuation trustees of registrable superannuation entities.
Who do you complain to about superannuation?
What can I do if I have a complaint about my superannuation fund? Complaints about your superannuation fund, unless they are of a prudential concern, should be directed to the trustee of the fund. Trustees are required to have an internal dispute resolution process and should respond to complaints within 90 days.
What does the superannuation trustee monitor?
Superannuation Funds and Company Governance In discharging their fiduciary duties, a superannuation trustee is required to properly understand and assess likely material investment risks (and returns).
Who controls a superannuation fund?
ASIC is the regulator responsible for the Corporations Act 2001 and the ASIC Act 2001. These acts regulate the conduct and disclosure obligations of financial services providers (including superannuation trustees). ASIC is also responsible for administering parts of the Superannuation Industry (Supervision) Act 1993.