business.gov.au

Approval as a Retirement Savings Account Institution - Australian Government

Description

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.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this approval you must be a constitutional corporation that is:

  • an authorised deposit-taking institution
  • a life insurance company
  • a prescribed financial institution.

Duration

Ongoing unless revoked

Fees

Fees Details for this service in table format.

Task Type Business Structure Amount Description
Apply Application All $500.00

Fees for 2024-25

Act(s) name

Retirement Savings Accounts Act 1997 Australian Government

Regulation(s) name

Retirement Savings Accounts Regulations 1997 Australian Government

Administering agency

Australian Prudential Regulation Authority

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.