APRA's Superannuation Data Transformation
APRA undertook a multi-year project to upgrade the breadth, depth and quality of its superannuation data collection.
APRA’s Superannuation Data Transformation (SDT) project delivered better industry practices and improved member outcomes by significantly enhancing the comparability and consistency of reported data. The project made it easier to scrutinise and reliably compare fund and product performance, especially in the choice segment of the market.
There are also frequently asked questions (FAQs) that provide timely guidance on commonly asked questions about reporting.
SDT Strategic Forum
The objective of the Superannuation Data Transformation Strategic Forum (SDTSF) was to obtain input from industry stakeholders to contribute to APRA’s understanding and resolution of the challenges for implementing and transitioning to the new superannuation data collections. APRA held the last SDTSF in September 2023.
Phase 2
Phase 2 of the SDT seeks to increase the level of detail of superannuation data APRA collects and to allow the superannuation industry to stop reporting through the legacy Direct to APRA (D2A) collection system.
Consultation on proposals for the collection of data on investments (including indirect investment costs), registrable superannuation entity (RSE) and RSE licensee profile and RSE licensee financials closed on 31 March 2024. The first response package for this consultation (indirect investment costs and RSE licensee financials) was released on 20 September 2024, with a second release package (investments and RSE and RSE licensee profile) planned to be released later in 2024.
Find out more about SDT Phase 2 consultations below.
Phase 1
Phase 1 of the SDT addressed critical gaps in the current reporting framework and expanded APRA’s data collection to capture data across all superannuation products, investment menus and investment options.
The SDT Phase 1 Consultation on the required reporting requirements commenced in November 2019 and was finalised in September 2021 when APRA determined 10 new reporting standards.
Consultation on the SDT Phase 1 data publications and confidentiality discussion paper closed on 15 April 2022. The response package for this consultation was released on 25 July 2022.
Consultation on the SDT Phase 1 Minor Amendments closed on 2 December 2022, APRA released the consultation response on 3 March 2023. The discussion package for this consultation was released on 7 November 2022.
Consultation on the SDT Phase 1 data publications and confidentiality consultation closed on 29 November 2023. The response package for this consultation was released on 27 March 2024.
Consultation on the definition of promoter for superannuation data collections closed on 26 April 2024. The response letter for this consultation was released on 6 June 2024.
Consultations
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.
Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.