INFO 241
Prohibition on influencing employers’ superannuation fund choice: section 68A of the SIS Act
This is Information Sheet 241 (INFO 241). It is for trustees of regulated superannuation funds and their associates.
In plain English
INFO 241 explains rules about not influencing an employer's choice of superannuation fund.
INFO 241 is for trustees of regulated superannuation funds and their associates. It explains section 68A of the Superannuation Industry (Supervision) Act 1993. This section prohibits influencing employers when choosing a super fund. The guidance clarifies what actions are considered influencing and what is acceptable. It helps ensure fair and unbiased super fund selection.
Why it matters
Super fund trustees must ensure they aren't seen to be pushing a specific fund. This protects employers and employees. Businesses offering financial advice related to super need to be aware of these restrictions.
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Issuing regulator
ASIC →Topics
Source: https://www.asic.gov.au/regulatory-resources/superannuation-funds/superannuation-guidance-relief-and-legislative-instruments/prohibition-on-influencing-employers-superannuation-fund-choice-section-68a-of-the-sis-act/. Rules Mate indexes + summarises; always verify against the regulator's live publication.