Long-term focus needed when viewing Quarterly MySuper Stats: APRA

23 October 2014
| By Nicholas |
image
image
expand image

People should take a long-term view when assessing the Australian Prudential Regulation Authority (APRA) Quarterly MySuper Statistics reports, according to the regulator.

Speaking at the Senate Standing Committee on Economics hearing in Canberra, yesterday, APRA chairman, Wayne Byres, urged caution in analysing the initials Quarterly MySuper Statistics reports, covering the four quarters ending September 2013 to June 2014.

"These publications mark an important milestone in the Stronger Super reform process, and are part of a much broader and richer suite of superannuation publications that APRA is implementing," he said.

"However, it is critically important that users of the statistics remember that long-term performance is the key determinant of members' retirement outcomes and consider all aspects of the products that are provided - not just investment returns over short periods.

"For MySuper products in particular, it will be sometime yet before there is sufficient information available to assess the impact of the reforms in enhancing outcomes for members."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 2 weeks ago
Kevin Gorman

Super director remuneration ...

10 months 3 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 3 weeks ago

The central bank has served up a disappointment for punters on Melbourne Cup Day....

2 hours ago

The fund’s inaugural chief retirement officer is looking to establish a new venture. ...

7 hours ago

The sovereign wealth fund remains cautious of the impact of high inflation as it announces a strong return in its latest update....

1 day ago