Exempt Public Sector Superannuation Schemes are public sector superannuation schemes that choose not to be regulated by APRA. However, for statutory purposes, a number of these exempt schemes report to APRA under an agreement between the Commonwealth Government and each of the State and Territory Governments.
Footnotes
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 $10.6 trillion in assets for Australian depositors, policyholders and superannuation fund members.