The Australian Prudential Regulation Authority (APRA) has released the first of a series of new statistical releases aimed at improving transparency in the pensions industry.
The inaugural quarterly superannuation industry publication includes new and expanded data collected under APRA’s recently introduced superannuation data transformation reporting standards.
For the first time, the published data includes information on the number and types of products and investment options available in the pension sector. It also includes quarterly data on member demographics, such as gender, age and account balances, which was previously only released once a year, as well as an improved classification of asset allocations. MySuper products.
Key information from the new release includes:
- In the quarter ending June 30, 2022, there were 69 MySuper products, 956 Choice products and 142 defined benefit products in APRA-regulated entities with more than four members;
- Of the $1.95 trillion in assets held by members in these products, 41.5% is held in MySuper products, 51% in Choice products and 7.5% in defined benefit products; and
- In the Choice products segment, there were approximately 10,000 multi-sector investment options, 30,000 single-sector investment options and 116,000 direct investment options of assets available for members to invest in directly, such as stocks or term deposits.
Margaret Cole, APRA Fellow, said: “This landmark publication reflects APRA’s progress in improving the breadth, depth and quality of industry data as part of our multi-year transformation project. pension data.
“We look forward to sharing information through this and future editions of our new superannuation publications.”
APRA announced the launch of a new series of quarterly and annual superannuation publications in July, after extensive consultation with industry.
APRA’s superannuation data transformation was launched in 2019 to drive industry best practices and improve member outcomes by significantly improving the comparability and consistency of reported data.
A copy of the new publication is available on the APRA website at: Quarterly Superannuation Industry Publication.
