Consultation on APRA's Superannuation Data Transformation
APRA is undertaking a multi-year project to upgrade the breadth, depth and quality of its superannuation data collection.
APRA’s Superannuation Data Transformation project aims to drive better industry practices and improve member outcomes by significantly enhancing the comparability and consistency of reported data. The project will make it easier to scrutinise and reliably compare fund and product performance, especially in the choice segment of the market.
Given the scale and complexity of the project, APRA has divided the consultation into three phases:
- Phase 1 (Breadth) will address the most urgent gaps in APRA’s data collection, particularly for choice products and investment options;
- Phase 2 (Depth) will increase the granularity of the entire collection, taking advantage of APRA’s new Data Collection Solution and enhanced data analytic capabilities; and
- Phase 3 (Quality) will assess the quality and consistency of the additional data reported during Phases 1 and 2, and review and address any implementation issues.
Each phase will involve the release of multiple topic papers, each covering a different aspect of the consultation.
On Friday 28 August APRA released the final consultation package for Phase 1, containing topic papers, draft reporting standards and data collection templates covering fees and costs, insurance arrangements, expense reporting and asset allocation. Full details can be found in the consultation below.
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.