Revised super reporting standards confirmed

6 August 2015
| By Nicholas |
image
image
expand image

Superannuation funds will have to comply with new reporting standards relating to investment exposure concentrations, asset allocation, financial instruments, investment performance and fees, from 1 July 2016.

In a letter to all registrable superannuation entities, Australian Prudential Regulation Authority (APRA) executive general manager for policy and advice, Sarah Goodman, revealed the new standards will only require reporting of indirect costs on the same basis as it is required to be disclosed publicly.

The revised superannuation reporting standards following a consultation process relating to draft standards released earlier this year and aim to clarify concerns surrounding:

  • Reporting standard SRS 532.0 — Investment exposure concentrations;
  • Reporting standard SRS 533.1 — Asset allocation and members' benefit flows;
  • Reporting standard SRS 534.0 — Derivative financial instruments;
  • Reporting standard SRS 702.0 — Investment performance;
  • Reporting standard SRS 703.0 — Fees disclosed;
  • Reporting standard SRS 320.0 — Statement of financial position; and
  • Reporting standard SRS 330.1 — Statement of financial performance.

"The revisions, where relevant, will be incorporated in D2A forms so that RSE licensees will be able to submit data based on these versions of the reporting standards when the requirements commence," Goodman said.

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....

4 hours ago

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

9 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 2 hours ago