Target Market Determination
From 5 October 2021, this page will include the Target Market Determinations (TMD) for financial products issued by Statewide Super.
A TMD will be available for the following products:
- Statewide Super Choice Investments Accumulation Product
- Statewide Super Pension
- Statewide Super Transition to Retirement Pension.
We’re currently working through our obligations as an issuer and distributor, as well as how we’re going to work with the distributors of our products to meet these requirements.
What is a Target Market Determination (TMD)?
A TMD is a document which a product issuer must create for each financial product covered by the Product Design & Distribution legislation which:
- Describes the 'target market' and outlines the likely objectives, financial situation and needs of consumers the product has been designed for
- Details the conditions or restrictions on the issue of the product
- Sets out the relevant information that must be provided to Statewide by distributors of our product at our required frequency.
Why does Statewide Super need to have TMDs for its superannuation products?
Statewide Super is required to have TMDs for its financial products because it is a requirement of the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 in order to assist consumers to obtain financial products that are appropriate for their objectives, financial situation and needs.