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APRA defers some SuperStream data collection
The Australian Prudential Regulation Authority (APRA) has deferred the collection of data relating to rollovers and contributions.
The deferral comes after three peak industry bodies — the Association of Superannuation Funds of Australia (ASFA), the Financial Services Council (FSC) and the Australian Institute of Superannuation Trustees (AIST) — lodged submissions regarding the proposed implementation time.
APRA initially required submission of the Superannuation Reporting Form 711.0 SuperStream Benchmarking (SRF 711.0) from the first quarter of 2013-14 to the last quarter of 2018-19 on the number of inward and outward rollovers and contributions; whether manual handling or error resolution was required; and the cost of straight-through processing.
Collection of SRF 711.0 has now been deferred until the first quarter of 2014-15, with the first submission of data due by 28 October 2014.
APRA said it would continue to consult with the industry in regards to other issues that had been brought up in submissions relating to SRF711.0.
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