ASIC updates Stronger Super

ASIC has updated its Stronger Super regime in two ways:

  • Portfolio holdings disclosure reporting and choice product dashboard requirements start-date has been deferred until 1 July 2016. More time for consultation was required than the previous 1 July 2015 date allowed, and licensees do not have to provide a hard copy of the product dashboard with the periodic statement until this date. Standard employer-sponsored sub-plans disclosure has also been deferred until 1 July 2016. The changes are to provide some relief from the administrative burden, and allow more time to introduce the new requirements.

  • ASIC has also extended the interim relief as related to long-term performance reporting in Class Order 10/630 to 31 December 2015.