APRA and ASIC release joint letter to superannuation trustees on COVID-19
Australian Prudential Regulation Authority (APRA) Deputy Chair Helen Rowell and Australian Securities and Investments Commissioner Danielle Press have issued a joint letter to superannuation trustees on COVID-19.
The letter, published today on both the APRA and ASIC websites, gives trustees guidance to help them manage the financial and operational challenges associated with COVID-19, while continuing to meet their obligations to look after members’ best interests.
Along with the letter, APRA and ASIC have both released “frequently asked questions” (FAQs) documents, containing more detailed information for trustees.
The letter is available on the APRA website at: A joint letter from APRA and ASIC on the impact of COVID-19.
APRA's FAQs can be found at: Frequently Asked Questions - Superannuation trustees response to COVID-19.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.