The Australian Prudential Regulation Authority (APRA) has authorised Professional Associations Super (PAS) to offer a MySuper product, the fund has announced.
From 1 July 2013, PAS will be able to offer a MySuper product. The fund stated it is amongst the first 10 to receive a MySuper authorisation.
"This is a huge achievement in moving the fund forward, and I'd like to commend the board and executive team for all their work in reaching this milestone" said Megan Bolton, chief executive officer of PAS.
"Our MySuper offering will be similar to our current default growth investment option, which remains as a low-cost and highly competitive product suited to the members of the fund."
PAS said further updates will be available through its websites.
