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Status: Closed
4 July 2024

Strategic planning and member outcomes

This page contains information regarding APRA's consultation on Superannuation Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515) to sharpen industry focus on the delivery of outcomes to members.

July 2024
 

On 4 July 2024, APRA released its response to consultation on proposed enhancements to the superannuation prudential framework to strengthen strategic planning and member outcomes.

A Response Paper, updated Prudential Standard (SPS 515) Strategic Planning and Member Outcomes, Prudential Practice Guide (SPG 515) Strategic Planning and Member Outcomes and non-confidential submissions can be found below. 

The amendments apply from 1 July 2025.

Media release: APRA strengthens core Prudential Standard to support outcomes for members in super.

Response paper

Response paper - Strategic planning and member outcomes

Prudential practice guide


Prudential standard


Submissions


September 2023

 

On 21 September 2023, APRA released a discussion paper outlining its proposed enhancements to the superannuation prudential framework to strengthen strategic and business planning and transfer planning.

This paper also responds to feedback provided in response to APRA’s 2022 discussion papers and findings from relevant thematic reviews.

Submissions are requested to be provided no later than 21 December 2023.

The discussion paper, Prudential Practice Guide (SPG 515) Strategic and Transfer Planning, Prudential Practice Guide (SPG 516) Business Performance Review and Prudential Standard (SPS 515) Strategic Planning and Member Outcomes can be found below.

Media release: APRA strengthens standard to enhance member outcomes in superannuation.

Discussion paper

Strategic and transfer planning: enhancing member outcomes


Prudential practice guide

Prudential Practice Guide (SPG 515) Strategic and Transfer Planning
    
Prudential Practice Guide (SPG 516) Business Performance Review


Prudential standard


Submissions

Superannuation Transfer Planning

For details on this consultation go to Transfer planning in superannuation: proposed enhancements.


Strategic Planning and Member Outcomes


August 2022

 

On 1 August 2022, APRA released a discussion paper seeking feedback from superannuation trustees and other industry stakeholders on proposed enhancements to Superannuation Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515).

This paper covers proposed enhancements relating to defining quality member outcomes, running the RSE licensee’s business in a financially and operationally sound and sustainable manner, assessing performance and taking timely and appropriate action to address areas of underperformance.

Submissions to this discussion paper are requested to be provided no later than 11 November 2022.

The discussion paper can be found below.

Media release: APRA looks to enhance strategic planning and member outcomes in super.

Discussion paper

 

Discussion paper - Strategic planning and member outcomes: Proposed enhancements

Note on submissions

It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.

Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.