The Australian Prudential Regulation Authority (APRA) has published additional frequently asked questions (FAQs) and worked examples to provide further guidance to RSE licensees on the reporting standards for Phase 1 of the Superannuation Data Transformation project.
The FAQs released today also provide an update on the staged implementation approach. APRA intends to update SRS 251.0 Insurance Arrangements to extend the deadline for RSE licensees to submit the five years of historical data required for SRF 251.2 Insurance Payments until 28 February 2022. APRA had initially proposed a submission date of 30 September 2021.
Following feedback received from industry, APRA also intends to:
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