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Issue 853, 31 May 2022 
In this issue: 


APRA publishes updates to FAQS on the Superannuation Data Transformation project 

APRA has updated two frequently asked questions (FAQs) on the Superannuation Data Transformation (SDT) reporting standards. 

The two FAQs provide further guidance to RSE licensees on the reporting standards for Phase 1 of the SDT project, specifically in relation to the staged implementation and best endeavours approach to reporting under Reporting Standards 

SRF 550 Asset Allocation 

APRA will permit reporting for 

to be performed on a best endeavours basis for certain asset class characteristics for periods 

SRF 332.0 Expenses 

APRA will permit reporting to be performed on a best endeavours basis for each reporting period 

except for the following expense types: 

Trustees must report 


AFCA Funding Model Consultation Results 

As reported in ASFA Action 845 AFCA consulted on its proposed new funding model, which will replace the current (interim) model. 

Following the funding model consultation, AFCA has made changes to the model in response to stakeholder feedback, and the AFCA Board has now approved the model’s final design. The new funding model will come into effect on 1 July 2022. 

AFCA has prepared a consultation report webpage which includes a summary of the feedback received and AFCA’s response, including the changes it has made to the model, the consultation report and the final model. 

As a result of the feedback and concerns raised during the consultation, AFCA has made the following adjustments to the funding model: 


APRA releases superannuation statistics for March 2022 

APRA has released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the March 2022 quarter. 

Superannuation assets totalled over $3.4 trillion at the end of the March 2022. This represents a 9.7 per cent increase in the value of total superannuation assets over the past year, reflecting strong investment performance and positive contributions growth. The March 2022 quarter, however, reflects contributions beginning to revert to long-term trends and weaker investment performance, largely due to concerns over higher interest rates, with rising inflation, exacerbated by constrained supply chains, and the uncertainty brought about by the conflict in Ukraine. 




ASFA’s Regulatory Watchlist (ARW) tracks developments in Legislation, inquiries, consultations

and other regulatory announcements relevant to superannuation.

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