APRA needs to lift its efforts on regulating the superannuation sector, particularity when it comes to member outcomes, says a capability review of the regulator. One of the recommendations of the Banking and Financial Services Royal Commission was a capability review of APRA. The – in parts scathing – report… Read More »APRA needs to work harder on superannuation: Capability Review
APRA has used its new directions power, and imposed additional licence conditions, on AMP super. APRA announced that it has issued directions and put new licence conditions on AMP Superannuation Limited and N.M Superannuation Proprietary Limited – which both make up AMP Super. The prudential regulator said it had done… Read More »APRA uses new directions power, puts licence conditions, on AMP super
APRA has set out its superannuation policy priorities for 2019, though some of them depend on action by the Government and the Parliament. APRA has released its annual Policy Priorities document, which outlines areas of policy focus over the next year and a half – including on superannuation. In the… Read More »APRA sets out superannuation policy priorities for 2019
APRA has announced it has begun a ‘post-implementation’ review of the superannuation prudential framework changes in the 2013 Stronger Super reforms. “The aim of the review is to ensure the prudential and reporting standards, and related guidance, have achieved their objectives and continue to remain fit for purpose,” said APRA.… Read More »APRA to review Stronger Super reform prudential framework
APRA has outlined its superannuation policy priorities for 2018, including a comprehensive post-implementation review of the superannuation prudential and reporting framework. “Promoting improved governance and management in the superannuation sector is an ongoing priority for APRA, and one which has seen enhanced focus during the last year across APRA’s supervision… Read More »APRA sets out superannuation policy priorities for 2018
APRA is consulting on changes to prudential regulation of large superannuation funds, proposals which it says are independent but aligned with changes put forward by the Government. “The package outlines proposed changes to the prudential framework designed to enhance strategic and business planning, oversight of fund expenditure and the assessment… Read More »APRA proposes super fund regulation changes, “independent” of Government
APRA will be targeting poor performing superannuation funds in upcoming changes to prudential regulation. APRA Deputy Chairman Helen Rowell told the 2017 ASFA Conference that the regulator would soon be releasing for consultation a package of proposed prudential framework revisions, including “changes to promote greater transparency, especially around expenditure, and… Read More »APRA to target poor performing super funds in prudential changes
APRA has put under-performing superannuation funds on notice and plans to meet with these funds, after raising the option of them shutting down. APRA says it has identified some super funds which appear to not be consistently delivering “quality member outcomes”, based on an analysis of all super funds under… Read More »APRA puts under-performing super funds on notice
APRA has outlined its areas of compliance focus for superannuation funds for 2016.
Total levies on the superannuation industry, excluding SMSFs, will decrease from $130.1 million in 2014/15 to $124.0 million in 2015/16.