A Federal Parliamentary Committee has been told that funds deemed appropriate for the delivery of the Government’s MySuper proposal may not be subject to a common pricing regime.
Treasury Officials have told a Senate Estimates Committee hearing this month there was scope for each fund to set different pricing levels.
“MySuper’s starting point is that each fund would have one MySuper product,” the Treasury Markets Group principal adviser on superannuation, Jonathan Rollings, said. “That was in the Government’s announcement and is consistent with the recommendation of the Cooper Review.”
However, he said that beyond that core principle, there were implementation details as to whether that product had to be provided at a single price or if there is scope for it to be provided at different prices.
Asked whether the Government might move to impose a price, Rollings said it remained an option.
“I think there is a spectrum of options here for the Government to consider, ranging from uniform price through to allowing multiple pricing,” he said.
