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ARTICLE · 10 FEBRUARY 2018

APRA plans a year of introspection on super

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APRA has outlined a plan to undertake a review of its superannuation frameworks and will introduce a package of reforms.

AustraliaFinance and Banking
Michael Chaaya
Michael Chaaya
Ronald Mizen
Ronald Mizen
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The Australian Prudential Regulation Authority (APRA) has forecast a year of introspection in 2018 outlining a plan to undertake a comprehensive review of its superannuation frameworks. It will also introduce a package of reforms to close a 'gap' in strategy and business practices within registrable superannuation entity licensees (RSE licensees).

According to APRA's 2018 Policy Priorities guide, the regulator is planning to launch a comprehensive post-implementation review of its superannuation prudential and reporting frameworks – the first of its kind since APRA was given the power to make prudential standards for RSE licensees back in 2012.

APRA says it will undertake a year-long review of the frameworks to determine whether they are still fit for purpose 'given the pace of change in the industry'. The review will involve a public consultation process which is expected to start in early 2018 and run into the first half of 2019. APRA says it hopes to report on

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