APRA finalises enhancements to superannuation data collections
The Australian Prudential Regulation Authority (APRA) has responded to a recent consultation on enhancing superannuation data collections covering investments, trustee licensee profile and trustee profile.
The new data aims to improve member outcomes through the collection of accurate and comparable superannuation data to enable appropriate regulatory oversight and to increase transparency across the industry.
APRA initiated this consultation in November 2023 and issued a first response in September 2024 which confirmed the reporting requirements for investment costs and trustee financial statements.
This final response enhances APRA’s data collections by:
- Addressing a key gap in current investment data on liquidity and valuation risk to assess investment governance of, and exposure to, these risks.
- Enhancing the reporting on trustee boards for a comprehensive understanding of governance practices and effectiveness of superannuation trustees.
- Completing the picture of trustee’s business operations by including product distribution arrangements.
The enhanced data collection will further strengthen APRA’s ability to assess the financial resilience of funds and the robustness of governance, including investment governance, to deliver improved and equitable outcomes for superannuation members.
Trustees will submit the first data in December 2025. The response paper is available on the APRA website: Phase 2 Depth.
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.