The AMP Limited (ASX: AMP) share price will be on watch on Monday after the embattled financial services company released an update on the impact of the Protecting Your Superannuation Package Bill 2018.
What is this Bill?
This Bill amends the Superannuation Industry (Supervision) Act 1993 to prevent trustees of superannuation funds from charging certain fees and costs exceeding 3% of the balance of a MySuper or choice product annually where the balance of the account is below $6000.
In addition to this, it prevents trustees from providing opt out insurance to new members aged under 25 years, members with…
Click to read more https://www.fool.com.au/2019/02/18/amp-profits-to-be-hit-by-superannuation-bill/