MySuper product heatmap
APRA Deputy Chair Helen Rowell - Speech to the Australian Institute of Superannuation Trustees Chairs Forum
… heatmaps providing our assessment of performance for all MySuper products. This initiative is designed to provide … over time. We’ve previously flagged the four areas the heatmap will cover, namely investments, fees and costs, … you is that the heatmap will not include a single, overall product level assessment. Rather, the heatmap will display …
Opening statement for Senate Economics Legislation Committee - March 2021
… In December 2020, APRA published its third MySuper Heatmap. The good news was that the latest Heatmap showed that 71 per cent of MySuper members received a reduction in fees and costs since …
APRA Deputy Chair Helen Rowell - Speech to AIST Conference of Major Superannuation Funds
… as part of the Stronger Super reforms took effect, and the MySuper regime was being implemented. Eighteen … – fees are a clear example. Since launching our MySuper Product heatmap in November 2019, total fees in the sector have …
APRA proposes major increase in superannuation data transparency
… proposes publishing new aggregate industry, fund-level and product-level statistics containing key metrics, including … until now, APRA has only published product-level data for MySuper products . Executive Board Member Margaret Cole … a more complete picture of the industry. As with the MySuper and Choice heatmaps and Your Future, Your Super …
APRA takes next steps to expand its superannuation data collection
… and options, and collecting more granular and consistent MySuper data to provide a more complete picture of … products and options in an expanded version of our MySuper Product Heatmap . “An enhanced superannuation data collection is …
APRA Deputy Chair Helen Rowell - Speech to ASFA Conference
… 2021, APRA intends to continue with the publication of the MySuper heatmap and we expect this to remain on a December release … plan to rapidly improve outcomes for members or close the product. Operating with uncertainty In an uncertain world, …
Opening Statement to the House of Representatives Standing Committee on Economics - December 2019
… intend to continue to do that. Superannuation fund heatmap When it comes to improving outcomes for … information on the outcomes being delivered by every MySuper product – will be published in full next week, and represents …
APRA Executive Board Member, Margaret Cole - speech to the Financial Services Council webinar
… reluctance to pursue beneficial fund consolidation and product rationalisation is puzzling. I have also observed the … members and those with low balances, or APRA’s first MySuper Performance Heatmap and Superannuation Data Transformation . The sheer …
APRA Member Margaret Cole – Remarks to the Fund Executives Association Limited Members' Discussion Forum
… laws and regulation; Performance and performance tests; MySuper and Choice; Governance; The best financial interests … fees. APRA is preparing to publish our third MySuper Product Heatmap and our first Choice Product Heatmap, and an insights …
APRA Executive Board Member, Margaret Cole - Speech to the Women in Banking and Finance webinar
… the new annual performance test, any APRA-regulated super product that falls more than half a percentage point below a … release the first performance test results covering all MySuper products 1 . Many super members will learn for the … up scrutiny of choice products. APRA’s MySuper Product Heatmap has already played an important role in providing …
APRA Member Margaret Cole - Speech to the Financial Services Council Policy Briefing
… and the story is very different, with only a handful of MySuper products finishing the year in the black. The … for the industry – with the publication of the Choice Heatmap. We are now collecting data directly from trustees so … members. You can expect our push to eradicate unacceptable product performance to continue by intensifying pressure on …
APRA moves to strengthen transfer planning in superannuation
… was previously guidance; and relating to the transfer of MySuper assets within 90 days in the event that APRA cancels a trustee’s authority to offer a MySuper product. APRA will also look to strengthen and simplify the …
Opening statement for Senate Economics Legislation Committee’s Inquiry into the Treasury Laws Amendment (Your Future, Your Super) Bill 2021
… out persistent underperformers, including through our MySuper Product Heatmap, which resulted in significantly reduced fees and …
Superannuation in Australia: planning for change, sustainability and resilience
… sustainability is one of the three areas assessed in the MySuper heatmap that APRA has recently released. Although providing … but it is a crucial consideration when assessing fund and product performance. From APRA’s perspective, …
Opening Statement to Senate Economics Legislation Committee - March 2020
… end of the year. In December, APRA published its first heatmap providing data on the performance of every MySuper superannuation product. The heatmap was a major step forward for industry …
APRA Chair Wayne Byres and Executive Director of Superannuation Suzanne Smith - Trans-Tasman Business Circle "Meet the regulators" event
… sub-standard practices and eradicating unacceptable product performance to drive improved member outcomes. … those coming up short. This is making a difference. Our MySuper heatmap, first published in 2019, substantially increased the …
APRA Chair Wayne Byres - Speech to the Gilbert + Tobin Conversation Boardroom event
… focussed on data needed to support assessment of the new MySuper products. To reduce burden and promote efficiency, we … to accounting standard requirements and proposed product dashboard definitions for data on expenses, … relative to the likely reaction to the publication of the heatmap. No doubt there will be fierce complaints – …
Myths and misconceptions should be no barrier to super consolidation
… our supervision activities and the publication of a MySuper Heatmap exposing poorer performers. Narrow thinking A common … a member; the level of insurance cover and its cost; other product features such as particular investment options; or …
APRA Deputy Chair Helen Rowell - Speech to AIST Online Chairs Forum
… all decisions that trustees are making. The release of the MySuper Product Heatmap last year was a game changer for transparency across …
APRA Executive Director of Superannuation Carmen Beverley-Smith - 2023 ASFA Conference panel discussion
… have significantly enhanced the transparency of fund product performance – and more particularly, underperformance – in the MySuper and, more recently, the trustee directed product segment of the choice sector. This week, APRA …