The Australian Prudential Regulation Authority (APRA) has granted AvSuper a MySuper licence.
With the licence, AvSuper is able to accept employer default contributions into the AvSuper fund. It can also give members a single investment option, a standard set of fees and default levels of death and disability insurance.
"AvSuper is now well positioned for a range of members. Members can be in MySuper and let us manage their super entirely or they can choose to have more control with our investment choice, member advice service and voluntary insurance," said George Fishlock, AvSuper's chair.
