Which one of the following statements is correct?

a. The Australian government introduced the Superannuation (Super) Fund in response to the significant burden on the social welfare system due to the growing aging population. However, there is no requirement regarding the minimum % of salary contributed to the nominated SFs.

b. Superannuation (Super) Fund is a specific type of managed investment fund. Members of the fund can save and invest over their working life to provide a means of income during retirement. However, the members can withdraw their savings in the funds whenever they wish to.

c. Superannuation funds are not an Authorised Deposit-taking Institution. Hence they are not under the regulation of APRA

d. None of these.