Australian Securities & Investments Commission proposes extending intra-fund transfer relief for super trustees to 2031 and removing redundant MySuper relief

The Australian Securities & Investments Commission has opened a consultation on extending existing relief that allows superannuation trustees to avoid certain disclosure and cooling-off requirements when members are moved between products within the same fund via an intra-fund transfer. The relief, currently set to expire on 1 April 2026, would be extended to 1 April 2031. The proposal would continue ASIC Corporations (Superannuation: Accrued Default Amount and Intra-Fund Transfers) Instrument 2016/64, which exempts trustees of APRA-regulated superannuation funds who issue superannuation products during an intra-fund transfer from the application form requirement in section 1016A and the cooling-off period requirement in section 1019A of the Corporations Act 2001. ASIC’s assessment is that the relief is operating effectively and remains necessary, but it would exclude relief for movements of accrued default amounts to MySuper products on the basis that this aspect is now redundant, alongside minor and technical amendments to simplify the instrument. Feedback is due by 5pm AEDT on 18 February 2026, via Consultation Paper CS 44.