Consultation on Prudential Standard SPS 250 Insurance in Superannuation
This page contains information on APRA's consultation on Prudential Standard SPS 250 Insurance in Superannuation (SPS 250).
On 25 November 2019, APRA released for consultation its proposed revisions to SPS 250, which are aimed at improving superannuation member outcomes by helping trustees select the most appropriate policies for their members, and monitor their ongoing relationships with insurers.
The proposed revisions also implement recommendations from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Submissions on this consultation will be received until 3 February 2020.
The consultation letter and the clean and marked-up versions of the draft prudential standard can be found 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.