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Consultation on Publications and Confidentiality

October 2023

 

On 10 October 2023, APRA released a consultation letter outlining the proposals for the publication and the confidentiality of data reported under the new superannuation reporting standards. 

Submissions on these proposals are due 29 November 2023.

The consultation letter, draft publications and confidentiality proposals are available below:

Consultation Letter

Superannuation Data Transformation publications and confidentiality consultation

Draft publications


Confidentiality proposals


May 2023

 

On 23 May 2023, APRA determined nine updated reporting standards. This follows APRA’s response to consultation on Minor Amendments to reporting standards introduced under Phase 1 of the Superannuation Data Transformation (SDT) project on 3 March 2023. 

Notification: APRA determines reporting standards following Superannuation Data Transformation Phase 1 Minor Amendments.

The determined reporting standards are listed below and are available on the APRA website at: Prudential and Reporting Standards for Superannuation

March 2023

 

On 3 March 2023, APRA released a response to its consultation on the proposed minor amendments to SDT Phase 1 reporting.

The response letter, reporting standards and non-confidential submissions are available below:

Response letter

 

Response to Superannuation Data Transformation minor amendments consultation

Reporting standards

Non-confidential submissions

 


November 2022

 

On 7 November 2022, APRA released a discussion paper outlining the proposals for minor amendments to SDT Phase 1 reporting. 

Written submissions on these proposals are requested by 2 December 2022, APRA will release the consultation response on 3 March 2023. 

The discussion paper and draft reporting standards are available below:

Discussion Paper


Draft reporting standards


July 2022

On 25 July 2022, APRA released a response to its consultation on the publication and the confidentiality of data reported under the new superannuation reporting standards.

The response paper, metrics, publication templates, confidentiality positions and consultation submissions are available below:

Response paper


Templates and response paper attachments


Submissions


February 2022

On 18 February 2022, APRA released a discussion paper outlining the proposals for the publication and the confidentiality of data reported under the new superannuation reporting standards. Submission on these proposals were due 15 April 2022.

The discussion paper, draft metrics, draft publications and confidentiality proposals are available below:

Discussion paper


Draft metrics


Draft publications


Confidentiality proposals


Consultation on proposed amendments to reporting requirements for the first phase of the SDT project (CLOSED)

September 2021

In September 2021, APRA determined the 10 reporting standards developed under first phase of its multi-year Superannuation Data Transformation project.

The reporting standards include minor amendments to the versions of the reporting standards APRA released as part of the response to consultation in March 2021. These minor amendments incorporate clarifications issued publicly as Frequently Asked Questions .

Under the staged implementation approach, APRA will permit RSE licensees to report certain information on a best endeavours basis for a defined period of time. To improve clarity of drafting, the scope of data that may be submitted on a best endeavours basis has been removed from the reporting standard and provided as guidance. Despite this change, there will be no difference in how APRA will administer compliance with reporting of information which can be submitted on a best endeavours basis. 

The reporting guidance and FAQs are available here: Frequently Asked Questions - Superannuation Data Transformation

The Superannuation Data Transformation Regulation Impact Statement is available on the APRA website at Regulation impact statements

Notification:APRA determines Superannuation Data Transformation reporting standards.

Other updates

Superannuation reporting framework - frequently asked questions
Reporting requirements for superannuation entities

March 2021

In March 2021, APRA released a response to its consultation on reporting requirements for the first phase of its multi-year Superannuation Data Transformation (SDT). The response paper and 10 final reporting standards are available below. APRA received 12 non-confidential submissions in response to its consultation, which are also available below. 

The new super data collections address critical data gaps in the current reporting framework and the highest priority areas impacting member outcomes including: the expansion of the data collection to include all products and investment options; and improved data in relation to performance, fees and costs, insurance arrangements, expenses, member demographics and asset allocation classifications. 

Media release:APRA completes first phase of its Superannuation Data Transformation

Response paper

The new Reporting Standards are available on the APRA website at Prudential and Reporting Standards for Superannuation and should be read in conjunction with the FAQs which are available here: Frequently Asked Questions - Superannuation Data Transformation.

Reporting standards

Non-confidential submissions


November 2019 – November 2020

In November 2019 APRA released a discussion paper outlining the scope, objectives and approach to the Superannuation Data Transformation. Consultation on proposals under Phase 1 was done over three consultation periods supported by the release of consultation packages including topic papers, each covering a different aspect of the consultation. Each of these three consultation package releases is detailed below.

Media release:APRA’s Superannuation Data Transformation to enhance industry transparency and accountability

Discussion paper

Phase 1: Superannuation Data Transformation

August 2020

In August 2020, APRA released the final consultation package on reporting requirements for the first phase of SDT. Submissions on these proposals closed on 13 November 2020.

Consultation package:Phase 1 - Expenses, Asset Allocation, Insurance Arrangements and Fees and Costs

December 2019

On 19 December 2019 APRA released a second consultation package on reporting requirements for the first phase of SDT. Submissions on these proposals closed on 26 March 2020.

Consultation package:Phase 1 – Performance and Member Accounts

November 2019

In November 2019 APRA released the first consultation package on reporting requirements for the first phase of SDT. Submissions on these proposals closed on 17 January 2020.

Consultation package:Phase 1 – RSE Structure and Profile

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.