Summary
Amends the:
Superannuation Industry (Supervision) Act 1993
to prevent trustees from providing insurance on an opt out basis to members who are under 25 years old and begin to hold a new product on or after 1 October 2019, and to members who hold products with balances below $6000; and
Superannuation (Unclaimed Money and Lost Members) Act 1999
to make consequential amendments.