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APRA releases response to consultation on Phase 2 of the Superannuation Data Transformation project

The Australian Prudential Regulation Authority (APRA) has released a response paper emphasising the timelines and scope for Phase 2 of the Superannuation Data Transformation (SDT) project.

APRA’s SDT project aims to drive better industry practices and improve member outcomes through heightened transparency. Phase 2 "Depth" will explore new and better approaches to data reporting, across all areas of superannuation fund operations.

The response paper, including the revised timeline, and non-confidential submissions are available on the APRA website at: Phase 2 Depth.

Superannuation Data Transformation

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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.