POWERED BY MOMENTUM MEDIA
Super funds facing busy regulatory period
Superannuation fund trustees can expect to be busy over the first half of this year thanks to the Australian Prudential Regulation Authority’s (APRA’s) move to implement the assessment process for what superannuation funds are actually delivering to their members.
The regulator outlined its intentions in its Policy Agenda document released this week, noting that over the first half of this year it will be meeting with stakeholders and considering submissions relating to the consultation package it issued in December.
It said it thereafter expected to release the final requirements by the middle of the year.
“Implementation is expected to commence from January 2019,” the APRA document said.
The regulator said it had also been engaged in the progress of legislation relating to the Government’s accountability and governance measures and this had the capacity to impact prudential arrangements.
It said that should the Government’s legislation proceed, APRA would be considering what changes it then needed to make.
AUTHOR
Mike Taylor
Recommended for you
The central bank has served up a disappointment for punters on Melbourne Cup Day.
The superannuation industry will be judged by its member services rather than how effectively it accumulates wealth, according to Stephen Jones.
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
