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ARTICLE · 17 MAY 2013

Second set of draft prudential practice guides released for superannuation

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APRA has released for consultation a second set of draft prudential practice guides (PPGs) for superannuation funds.

AustraliaFinance and Banking
Michael Chaaya
Michael Chaaya
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NEED TO KNOW

On 9 May 2013, APRA released for consultation a second set of draft prudential practice guides (PPGs) for superannuation.

BACKGROUND

As part of the Stronger Super reforms, APRA's powers in relation to the prudential supervision of superannuation funds were extended to setting prudential standards which have the force of law.

In November 2012, APRA issued twelve finalised prudential standards for superannuation which will commence on 1 July 2013. They relate to prudential matters that a registrable superannuation entity (RSE) licensee must comply with, as set out in the table below:

Prudential standards extended to superannuation from current banking and insurance prudential standards

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