ASIC has issued a FAQ on What information can be provided about superannuation without requiring an AFS licence?
It discusses the position of :
- financial planners, giving advice to clients;
- the trustees of superannuation funds, giving advice to members and to prospective or former members and beneficiaries;
- accountants, giving advice to clients;
- employers, giving advice to employees and to prospective or former employees; and
- union officials, giving advice to union members or other employees.
in relation to decisions about:
- joining a superannuation fund or contributions being made to superannuation over other types of investments;
- joining, or contributions being made to, a particular type of superannuation fund over other types of superannuation fund;
- joining, or contributions being made to, a particular superannuation fund;
- additional
contributions being made to a superannuation fund (including expressing
an opinion that salary sacrifice is tax-effective); - selection of a particular investment or insurance option(s) within a superannuation fund;
- rollovers into a fund or out of another fund;
- movements of membership between sub-plans or superannuation products within a fund;
- movement of membership between growth and pension phase within a fund;
- calling for the cashing of benefits from a fund prior to the compulsory cashing of benefits.
