In three years, the Australian Prudential Regulation Authority (APRA) has failed to collect and use the data needed to assess half the super system it has regulatory responsibility for.
This year’s superannuation heatmaps contained no assessment on the performance of the Choice sector – which has about a third of members and more than half of the APRA regulated assets.
APRA started collecting Choice performance data in October 2021 and required funds to deliver historic performance data for Trustee Directed Products by March and for all of Choice in July.
It’s not entirely clear why members will have to wait until 2023 before information about their fund performance and fee rates are revealed.
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