26 September 2023

New APRA publications to have Super data

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The quality and breadth of information available on superannuation funds is to be enhanced with the Australian Prudential Regulation Authority (APRA) which is preparing to launch a new series of data publications.

Member of APRA , Margaret Cole said the quarterly and annual publications would comprise of new and expanded data on an industry, fund and product basis.

“The expanded data, captured under newly-introduced superannuation reporting standards, will include information on fees and costs, asset allocation and performance data for all products and investment options as well as information on insurance arrangements, expenses, member demographics,” Ms Cole said.

“The publications would fill a substantial gap in the data available to fund members, beneficiaries, investors, government and the general public,” she said.

“The enhanced data will enable industry stakeholders more effectively to assess the risks, operations, performance and efficiency of superannuation funds.”

Ms Cole said the data would promote better industry practices through comparability and peer review, while the sharing of key metrics would drive greater accountability of superannuation trustees.

She said the first of the new publications would be issued in September, covering aggregate quarterly data on the industry’s structure and profile, member demographics, and investments.

“The publications represent a key milestone in APRA’s Superannuation Data Transformation (SDT), a multi-year project to drive better industry practices and improve outcomes for superannuation fund members through heightened transparency,” Ms Cole said.

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