The Australian Prudential Regulation Authority (APRA) has released a discussion paper on proposed changes to its superannuation statistics publications and confidentiality of superannuation data.
The regulator is looking to revise its 'Quarterly Superannuation Performance Statistics’ publication and introduce a 'Quarterly MySuper Statistics report’.
The proposed changes will meet APRA’s legislative obligation to publish quarterly MySuper product-level statistics and improve its superannuation statistical publications.
APRA is also looking to release superannuation statistics in a new data dissemination system and make all non-confidential data accessible.
APRA wants to make most data submitted under the Financial Sector (Collection of Data) Act 2001 by registrable superannuation entity (RSE) licensees non-confidential and publicly accessible.
The discussion paper lets interested parties and RSE licensees give feedback and suggestions on the changes.
APRA member Helen Rowell said that with all the changes to the structure and nature of the superannuation industry since 2004 – and the changes to APRA’s superannuation data collection – it was a good opportunity to review the scope of the superannuation statistics publicly released by APRA.
“It is important that APRA’s publicly released statistics facilitate and encourage analysis of whether the superannuation industry is achieving retirement income policy objectives over the medium- to long-term, and contribute to enhanced transparency, accountability and understanding of the superannuation industry,” she said.
Submissions on the proposals are due by 31 January, 2014 via email.
The discussion paper is available on the APRA website.
