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515

Strategic Planning and Member Outcomes

SPS
515
SPG
515
SPG
516
Prudential Standards (1)
In Force
1 January 2020
Updated: August 2019

Summary

The Prudential Standard was updated following a consultation process.

This Prudential Standard sets out requirements for an RSE licensee to regularly assess the outcomes provided to members and identify opportunities for improving these outcomes, supported by sound strategic and business planning. Its objective is to ensure that strengthening member outcomes is central to an RSE licensee’s business operations.
Guidance (2)
In Force
1 January 2020
Updated: August 2019

Summary

APRA has substantially revised prudential practice guide SPG 516 Business Performance Review (SPG 516) to better support the final version of the Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515).

Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515) sets out APRA’s requirements for a registrable superannuation entity (RSE) licensee (RSE licensee) to set strategic objectives for its business operations and to maintain a written business plan that articulates an RSE licensee’s approach to achieving these strategic objectives. Additionally, SPS 515 contains prudential requirements to ensure that fund expenditure is in the best interests of members and that there is a comprehensive decision making and monitoring process for expenditure that is determined by its size or nature to be extraordinary.   |  File type: PDF  |  File size: 485.95 KB
In Force
1 January 2020
SPG 516 provides guidance to the superannuation industry on undertaking APRA’s new requirements for an annual Business Performance Review under Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515), and also the new legislated member outcomes assessment.   |  File type: PDF  |  File size: 331.52 KB