Primary industry-focused industry superannuation fund Prime Super has joined the growing list of funds to gain approval from the Australian Prudential Regulation Authority (APRA) for a MySuper product.
Confirming the APRA approval this week, Prime Super chief executive Lachlan Baird said it signalled the fund was well place to cope with the demands evolving out of the Government's Stronger Super policy.
"This is incredibly important for our registered employers," he said. "In the midst of quite a bit of superannuation change they'll have one less thing to worry about."
Baird said that now that fund had MySuper licence approval, it would focus its attention on the Government's broader Stronger Super reforms, including educating employers about the SuperStream data standards and how this would affect the way they interacted with the Fund.
