Government & regulation

Painless processes for perfect PDSs

3 April 2020

While the world is changing at an unprecedented rate (especially right now!), the basics of superannuation remain. For instance, product disclosure statements, or PDSs as they are commonly referred to. Given the constant level of change (to say nothing of the current operating conditions), how should super funds be thinking about PDSs? There are six components to success, according to SARAH PENN. Here she discusses the components as well as some key questions that are worth asking before every PDS update.

There’s no silver bullet to successfully managing PDSs. But there are a number of measures that every fund can put in place to ensure quality documents for members while minimising risk to the fund. Here are six essential steps to help your entire team achieve a successful outcome. 1 – Due Diligence Firstly, you really must have a formal due diligence (DD) set up. There are still funds signing off PDSs the same way they sign off marketing materials. How this would stand up to scrutiny from ASIC or AFCA I don’t know. A formal DD means a DD memo...

Login to continue reading

Login

Not sure if you have an account?

Check