Superannuation products may be covered by the Financial Claims Scheme. The Australian Prudential Regulation Authority issued technical guidance to authorised deposit-taking institutions this week, in which it said that if a product used for superannuation purposes satisfies the definition of a protected account it will be covered by the FCS.The FCS was introduced as a temporary measure in 2008 to provide a guarantee on deposits. It was made permanent in November 2011, providing deposit protection of A$250,000 per person, per institution.It covers accounts held in locally incorporated ADIs.APRA said: "The definition of a protected account… focuses on the nature of the account, not its purpose - that is, the definition does not depend on what the account is used for, provided it has the legal features of a protected account."Retirement savings accounts are explicitly covered, along with farm management deposits and first-home saver accounts.APRA's view is that products such as negotiable certificates of deposit and bank bills would not ordinarily fit the definition of a protected account and would not be covered by the FCS. "Advice may be required from your legal advisers," the regulator said.