APRA publishes additional FAQs and worked examples on the Superannuation Data Transformation Phase 1 reporting standards
The Australian Prudential Regulation Authority (APRA) has published additional frequently asked questions (FAQs) and worked examples for registrable superannuation entity (RSE) licensees to provide further guidance on meeting the Reporting Standards for Phase 1 of the Superannuation Data Transformation.
Included are worked examples for reporting under SRS 550.0 Asset Allocation, SRS 705.0 Components of Net Return, SRS 705.1 Investment Performance and Objectives and SRS 706.0 Fees and Costs.
APRA is releasing FAQs and worked examples to clarify reporting issues raised by RSE licensees and to help them meet their reporting obligations. APRA will continue to inform reporting entities and subscribers of updates to the FAQs and worked examples as they are released in the lead up to the first collection of data under the new Reporting Standards on 30 September 2021.
The FAQs are available on the APRA website at: Frequently Asked Questions - Superannuation Data Transformation.
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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.