In a letter to Responsible Superannuation Entity (RSE) licensees last week, the regulator said there would be 38 reporting standards in total.
Reporting Standard SRS 001.0 Profile and Structure (Baseline) was released in its final format at the end of April in order to allow baseline collection of the information by 28 May 2013, according to APRA.
Five reporting standards are still awaiting finalisation. They relate to the product dashboard (for both MySuper and Choice products), investment performance, fees disclosed and SuperStream benchmarking.
While most of the changes to the ‘proposed final’ reporting standards (released on 28 March 2013) were “minor or editorial”, a small number of the 32 finalised reporting standards have had some “substantial changes”, according to the APRA letter.
APRA deputy chairman Ross Jones said "his organisation would collaborate closely with the superannuation industry on the implementation of the new reporting requirements".
“Where an entity is experiencing difficulty in transitioning to the new reporting due dates, APRA would be amenable to requests for a short extension, especially for the first reporting period,” he said.
The reporting forms will be available in the D2A (‘Direct to APRA’) system “prior to 1 July 2013”, according to the letter.
