10 October 2023 - APRA consults on increased transparency of super fund expenditure

The Australian Prudential Regulation Authority (APRA) is consulting on proposals that would significantly increase visibility of how superannuation members’ money is spent and invested.

APRA has written to superannuation trustees inviting their feedback on its plans to publish total fund expenditure and expanded asset allocation data by mid-2024.

The data will be collected later this year following recent amendments to reporting standards under Phase 1 of APRA’s Superannuation Data Transformation, a multi-year project to enhance the depth, breadth and quality of data collected. APRA’s initial proposal is to determine most of the new superannuation data collected as being non-confidential and, therefore, able to be published.