Annual YFYS performance test (MySuper + Choice)
APRA annual performance test for MySuper products + (from 2024) Trustee Directed Products.
Who must comply
APRA-regulated super trustees with MySuper or TDP products.
What triggers it
Offering MySuper or TDP product.
When due
Annual performance test (typically August).
Evidence required
APRA test result; member notification; product closure decisions where applicable.
Max penalty
Mandatory member notification; product closure to new members; APRA enforcement
Who must comply with this? The applicability test by industry, business structure and size.
Summary
Your Future, Your Super (YFYS) reforms introduced an annual performance test for MySuper products from 2021; extended to Trustee Directed Products from 2022. Funds failing must notify members + cannot accept new members from second consecutive failure.
Enforced by
Source legislation
Industries
Topics
Related
- CWLTHMySuper authorisation for default super productsDefault super contributions can only flow to APRA-authorised MySuper products.
- CWLTHLodge an annual SMSF audit before lodging the SMSF Annual ReturnSelf-managed super funds must be audited by an ASIC-registered auditor each year.
- CWLTHComply with SIS Act trustee covenantsSuper fund trustees owe statutory covenants of care, skill, diligence, best financial interests, and prudent investment.
- CWLTHPay superannuation on every payday (Payday Super)From 1 July 2026, super must reach the employee's fund within 7 business days of each payday.
- CWLTHStronger Member Outcomes — APRA SPS 515RSE licensees must annually assess member-outcomes performance + take action.
- CWLTHMaintain SMSF compliance with the sole purpose test (s 62)SMSFs must be maintained for the sole purpose of providing retirement benefits.
Frequently asked questions
- Who must comply with Annual YFYS performance test (MySuper + Choice)?
- APRA-regulated super trustees with MySuper or TDP products.
- What triggers Annual YFYS performance test (MySuper + Choice)?
- Offering MySuper or TDP product.
- When is Annual YFYS performance test (MySuper + Choice) due?
- Annual performance test (typically August).
- What is the maximum penalty for Annual YFYS performance test (MySuper + Choice)?
- Mandatory member notification; product closure to new members; APRA enforcement
- What evidence is required for Annual YFYS performance test (MySuper + Choice)?
- APRA test result; member notification; product closure decisions where applicable.
Source: https://www.apra.gov.au/superannuation. Rules Mate is not a law firm. Always verify against the live regulator source before acting.