Annual YFYS performance test (MySuper + Choice)
APRA annual performance test for MySuper products + (from 2024) Trustee Directed Products.
Who must comply
APRA-regulated super trustees with MySuper or TDP products.
What triggers it
Offering MySuper or TDP product.
When due
Annual performance test (typically August).
Evidence required
APRA test result; member notification; product closure decisions where applicable.
Max penalty
Mandatory member notification; product closure to new members; APRA enforcement
Summary
Your Future, Your Super (YFYS) reforms introduced an annual performance test for MySuper products from 2021; extended to Trustee Directed Products from 2022. Funds failing must notify members + cannot accept new members from second consecutive failure.
Enforced by
Source legislation
Industries
Topics
Source: https://apra.gov.au/your-future-your-super-performance-test. Rules Mate is not a law firm. Always verify against the live regulator source before acting.