Pooled A trust in which the assets of a number of superannuation funds, superannuation approved deposit funds or other pooled superannuation trusts are trust invested and managed by a professional manager. Preservation age The minimum age prescribed by law at which a member can withdraw their superannuation benefits from the superannuation system. Product Product and performance information (specified by APRA) regarding dashboard MySuper products that must be made available on superannuation fund websites. Registrable An APRAregulated superannuation fund, an approved deposit fund or superannuation a pooled superannuation trust. entity Retail fund A superannuation fund that offers superannuation products on a commercial ‘for profit’ basis. Retail level The level of the superannuation market that provides services directly to members. Self-managed A superannuation fund with fewer than five members, all of whom are superannuation trustees or are directors of a corporate trustee. fund Sequencing risk The risk of experiencing poor investment returns just prior to drawing on funds in retirement. Small APRA Any APRAregulated fund with fewer than five members. fund Small fund Any superannuation fund with fewer than five members. Superannuation Compulsory superannuation contributions paid by employers on behalf Guarantee of employees, and equal to a percentage (currently 9.5 per cent per year) of time earnings. each employee’s ordinary Superannuation The collection of participants and activities involved in system superannuation, including members, employers, funds, upstream suppliers, ancillary service providers (including insurers) and regulators. SuperStream An Australian Government package of measures designed to enhance administrative processes for superannuation, especially the way that Superannuation Guarantee payments are transferred from employers to funds.
Pooled superannuation trust A trust in which the assets of a number of superannuation funds, approved deposit funds or other pooled superannuation trusts are invested and managed by a professional manager. Preservation age The minimum age prescribed by law at which a member can withdraw their superannuation benefits from the superannuation system. Product dashboard Product and performance information (specified by APRA) regarding MySuper products that must be made available on superannuation fund websites. Registrable superannuation entity An APRAregulated superannuation fund, an approved deposit fund or a pooled superannuation trust. Retail fund A superannuation fund that offers superannuation products on a commercial ‘for profit’ basis. Retail level The level of the superannuation market that provides services directly to members. Self-managed superannuation fund A superannuation fund with fewer than five members, all of whom are trustees or are directors of a corporate trustee. Sequencing risk The risk of experiencing poor investment returns just prior to drawing on funds in retirement. Small APRA fund Any APRAregulated fund with fewer than five members. Small fund Any superannuation fund with fewer than five members. Superannuation Guarantee Compulsory superannuation contributions paid by employers on behalf of employees, and equal to a percentage (currently 9.5 per cent per year) of each employee’s ordinary time earnings. Superannuation system The collection of participants and activities involved in superannuation, including members, employers, funds, upstream suppliers, ancillary service providers (including insurers) and regulators. SuperStream An Australian Government package of measures designed to enhance administrative processes for superannuation, especially the way that Superannuation Guarantee payments are transferred from employers to funds.
superannuation-assessment-draft-overview.docx