The Australian Prudential Regulation Authority (APRA) has released its proposed final application form and instructions for the authorisation of MySuper products and proposed final Prudential Standard SPS 410 MySuper Transition.

The proposed final Prudential Standard sets out requirements for the movement of accrued default amounts into a suitable MySuper product before 1 July 2017.

The authorisation process for registerable superannuation entities (RSE) licensees wishing to offer MySuper products is expected to commence from 1 January 2013. Once authorised, RSE licensees can offer these products from 1 July 2013 onwards.

APRA has also released the proposed final application form and instructions for authorisation to offer an eligible rollover fund (ERF). The authorisation process for RSE licensees to offer an eligible rollover fund is expected to commence from 1 January 2013.