Independent and concise pensions and superannuation news for industry professionals.

1. While all care has been taken to ensure the accuracy
of the information presented, QMV Super Solutions
is not responsible for any loss or damage suffered in
relying on the information presented.
QMV Super Solutions specialise in the delivery of world-class technology
and business solutions for the superannuation and wealth management
industries. With a fresh approach to solving complex process issues, our
tailored solutions are delivered by a bright young team who are experts
in their fields, and passionate about results.
qmvsupersolutions.com
QMV
APRA REPORTING
The Australian Prudential
Regulatory Authority (APRA) has
released an updated version of
the D2A validation rules for
superannuation, used to
validate the data submitted by
reporting entities. APRA has also
released updated Plain English
Taxonomy format forms for new
and revised reporting
standards, effective 1 July 2016.
Source: APRA
SMSF STATISTICAL REPORT
The Australian Taxation Office
(ATO) has released statistics on
the self-managed super fund
(SMSF) sector with the
publication of the annual Self-
Managed Superannuation
Funds: A Statistical Overview
2013-14 and the September
2015 edition of the quarterly
Self-Managed Superannuation
Funds Statistical Report.
Source: ATO
RETIREMENT STANDARD
The Association of
Superannuation Funds of
Australia (ASFA) released the
September quarter Retirement
Standard figures, indicating a
modest rise in the cost of living
for retirees. Couples aged 65
living a comfortable retirement
need $58,915 per year and
singles $42,962.
Source: ASFA
PRODUCT DASHBOARDS
APRA has released proposed
amendments to
superannuation product
dashboard reporting
requirements for consultation.
The proposed amendments are
to revise two reporting
standards:
 Reporting Standard SRS 700.0
(Product Dashboard) to allow
it to cover both MySuper and
choice product dashboards
and to reflect the proposed
amendments to the
dashboard requirements; and
 Reporting Standard SRS 702.1
(Investment Performance
Non-MySuper Investment
Options).
Source: APRA
REPORTING STANDARDS
APRA has released nine
superannuation reporting
standards, comprising two
packages; one which is being
released jointly with the
Australian Bureau of Statistics
(ABS) and the other which
consists of the final five
reporting standards which were
the subject of consultation in
April 2015. The new reporting
standards, and the changes to
SRS 330.0, take effect on 1 July
2016, and must be reported
quarterly by RSEs with total
assets equal to or greater than
$200 million
Source: APRA
CUSTODIAL SERVICES
The International Orgnanization
of Securities Commission
(IOSCO) has published its final
report on Standards for the
Custody of Collective
Investment Schemes’ Assets.
The report proposes 8
standards, which ASIC has
supported as being consistent
with Australia’s domestic
custody regime.
Source: IOSCO
CONSISTENCY CLASS ORDER
The Australian Securities and
Investments Commission (ASIC)
has issued a new class order
exempting RSEs until 1 February
2017 from having to comply
with subsection 29QC(1) of the
Superannuation Industry
(Supervision) Act. The 29QC law
requires consistency between
disclosure and regulatory
reporting.
Source: ASIC
GOVERNANCE
Industry Super Australia (ISA)
and the Australian Institute of
Superannuation Trustees (AIST)
have asked Bernie Fraser to
lead a Review of governance
arrangements in respect of not-
for-profit superannuation funds,
and to propose a best practice
Governance Code for such
funds.
Source: ISA
SuperBrief Independent & Concise
Issue #50 of 2015: Friday, 18th
December