ob体育

Superannuation

ob体育's role in superannuation

ob体育 is responsible for investor and consumer protection in financial services, including super and investments.

ob体育 is focused on the behaviour of trustees of superannuation funds impacting consumers. ob体育 may take action against trustees of superannuation funds in cases of serious misconduct or where trustees fail to meet their key obligations. ob体育 wants to see superannuation funds operate in a way that is fair to members and promotes confidence in the superannuation system.

Read more about ob体育's role in super.

ob体育 resources

See 础厂滨颁鈥檚 super funds page for information about super, including media releases and reports.

For a list of other useful links about super, see 础厂滨颁鈥檚 further resources on super page.

Moneysmart

础厂滨颁鈥檚 website is a starting point for consumers and investors to make informed financial decisions. It provides free, independent guidance and for consumers.

YourSuper comparison tool

The is a simple way to compare MySuper products and help you choose a super fund that meets your needs. It is hosted by the Australian Taxation Office (ATO).

Self-managed super funds (SMSFs)

If you set up a SMSF, you are responsible for running the fund according to its trust deed and the superannuation laws, even if you get help from a professional or another member of the SMSF.

SMSFs are regulated by the . 础厂滨颁鈥檚 role is regulating the 鈥榞atekeepers鈥� for SMSFs, such as accountants and auditors.

An SMSF auditor must be registered with ob体育 as an 鈥榓pproved SMSF auditor鈥� before they can sign off on SMSF audit reports. You can search the 聽to check whether an SMSF auditor is registered.

All accountants who provide advice on SMSFs must hold an Australian Financial Services (AFS) licence.

You can check to see whether a person or business has an AFS licence or is an authorised representative by searching the .

Complaints

If you have a complaint about a super fund, complain directly to the fund first. This gives the fund an opportunity to resolve your complaint.

If you are unhappy with your fund鈥檚 response, you can complain to the .

For information see:

• on 础厂滨颁鈥檚 Moneysmart page
• Disputes with financial firms (INFO 174)

Concerns

Illegal offers to withdraw your super early

You cannot withdraw your super early unless you meet a condition of release.

If you have been offered to withdraw your super early or believe someone is promoting an illegal super scheme, contact the .

The ATO can help you identify illegal schemes. See the ATO鈥檚 for more information.

Financial soundness

If you have concerns about the financial soundness of a super fund, contact the .

Concerns about financial service providers and products

If you have concerns about a financial services provider or product, you can .

Reporting misconduct to ob体育

ob体育 receives reports from the public who believe someone has not complied with laws ob体育 oversees.

This includes the conduct and disclosure obligations of superannuation trustees (but not SMSF trustees).

For more information see reporting misconduct to ob体育.

Licensing

ob体育 also licenses and monitors people to ensure they operate efficiently, honestly and fairly. Financial services providers, including superannuation trustees, must be licensed or authorised and meet conduct and disclosure obligations under the law.

From 1 July 2021, all superannuation trustees who are registrable superannuation entity (RSE) licensees regulated by APRA, will also be required to hold an Australian financial services licence to operate their fund(s).

You can check to see whether a person or business has an Australian financial services (AFS) licence or is an authorised representative by searching the .

You can also search the to find out where an adviser has worked, their qualifications, training, memberships of professional bodies and what products they can advise on.