Section 156F — Fair Work Act 2009: First stage criteria

The first stage criteria are as follows: (a) the appropriateness of the MySuper product’s long term investment return target and risk profile; (b) the superannuation fund’s expected ability to deliver on the MySuper product’s long term investment return target, given its risk profile; (c) the appropriateness of the fees and costs associated with the MySuper product, given: (i) its stated long term investment return target and risk profile; and (ii) the quality and timeliness of services provided; (d) the net returns on contributions invested in the MySuper product; (e) whether the superannuation fund’s governance practices are consistent with meeting the best interests of members of the fund, including whether there are mechanisms in place to deal with conflict of interest; (f) the appropriateness of any insurance offered in relation to the MySuper product; (g) the quality of advice given to a member of the superannuation fund relating to the member’s existing interest in the fund and products offered by the fund; (h) the administrative efficiency of the superannuation fund; (i) any other matters the FWC considers relevant.