Phase 1 - Expenses, Asset Allocation, Insurance Arrangements and Fees and Costs
The Australian Prudential Regulation Authority (APRA) has released the final consultation package for Phase 1 of its project to expand the breadth, depth and consistency of its superannuation data collection.
Launched last November, APRA’s multi-year Superannuation Data Transformation aims to improve member outcomes by enhancing the comparability and consistency of reported data on APRA-regulated superannuation funds. Phase 1 of the project (Breadth) addresses the highest priority gaps in APRA’s data collection, particularly for choice products and investment options.
Today’s consultation package contains topic papers, draft reporting standards and data collection templates which can be found below:
Summary of changes - last updated 13 October 2020
Minor updates made to template validations to ensure consistency with reporting standards.
Removed unintended duplications of the options available within a few variables.
Resolved internal inconsistencies between the options available for a few variables within multiple reporting forms.
Changed an error in the reporting level for SRF 550.1 and 550.2 to correctly indicate the form is collected at the RSE-level and not the investment option-level.