The Australian Prudential Regulation Authority (APRA) has published a new frequently asked question (FAQ), which has been added to the FAQ document that APRA published on 23 August.
The FAQ outlines APRA's view on Pandemic Leave Disaster Payments, COVID-19 Disaster Payments and the ‘work test’ for the purpose of voluntary superannuation contributions.
The FAQ is available on the APRA website at: Frequently Asked Questions - Superannuation trustees' response to COVID-19.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members.