In this guide
This month we look at APRA’s MySuper heatmap, the new ‘Right to remain’ test recommendation, longevity tables in need of an update, new research shows that the majority of Australian retirees are independently navigating their way through their retirement finances and Treasury invites submissions as it considers the present and future performance of our retirement income system.
APRA unveils MySuper heatmap
The delivery in December of the new MySuper product heatmap is part of APRA’s commitment to improving transparency in the superannuation sector.
Speaking at the ASFA 2019 conference in Melbourne in November, APRA Deputy Chair Helen Rowell revealed a sample of the heatmap, which is a key tool in the prudential regulator’s ongoing efforts to improve outcomes for superannuation members.
The heatmap uses a graduating colour scheme to provide stakeholders with clear insights into the outcomes that are being delivered by Registerable Superannuation Entity (RSE) licenses, especially investment returns, fees and costs, by providing credible, clear information that is comparable with other MySuper products.
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