Financial reports and notices > Target Market Determination

Target market



Ensuring members and clients are at the centre of how we design and distribute our financial products.

Access TMDs

What is a Target Market Determination (TMD)?

A TMD is a document that describes a product or a group of products, who the product is intended for (target market), and any conditions around how the product can be distributed to consumers. 

A target market determination specifies:

— The type of consumer in the target market
— Any distribution conditions and restrictions
— Assessment information we will use and review triggers
— When TMDs must be reviewed
— Reporting periods for when the distributor should provide complaints to the product issuer, and
— What other information distributors must report to the issuer (and frequency) so the issuer can identify whether the TMD needs to be reviewed.

Why does APS Benefits have a TMD?

From 5th October 2021, we are required to comply with a new law under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019. This law requires us to have Target Market Determinations to meet our obligations.

The Design and Distribution Obligations Act requires issuers and distributors of financial products to have a customer-centric approach to the design and distribution of their products, with the aim of helping customers to obtain financial products that are appropriate for their objectives, financial situation and needs.

Download TMDs

Below you are able to read or download Target Market Determinations:

APS Funeral Benefits

APS Property Loans

APS Personal Loans

APS Savings