Putting Members’ Interests First28 Oct 2019 1 min read
The Putting Members’ Interests First bill passed both Houses on 19 September 2019, legislating further changes to the provision of insurance within superannuation.
In summary, from 1 April 2020, new members will not receive automatic default cover if they:
- are under age 25 and/or
- have an account balance under $6,000
at the time of opening their account.
We will provide further updates, including details about how new members can opt in for insurance, before 1 April 2020.