You will require this approval if you operate an institution intending to offer and provide a Retirement Savings Account (RSA). An RSA is a type of superannuation product that only approved RSA institutions can offer.
RSA's will provide benefits upon retirement or death and may also provide a limited range of other benefits. They have certain restrictions placed upon them to make them similar to other superannuation products.
Please consult the Contact Officer for more information.
A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.
To be eligible for this approval you must be a constitutional corporation that is:
- An authorised deposit-taking institution;
- A life insurance company; or
- A prescribed financial institution.
Please consult the Contact Officer for more information regarding eligibility requirements.
Ongoing unless revoked.
There is a $500 non-refundable application fee.
Australian Prudential Regulation Authority
Retirement Savings Accounts Act 1997 (Australian Government)
Retirement Savings Accounts Regulations 1997 (Australian Government)
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