The Australian Prudential Regulation Authority (APRA) has made a significant move in enhancing the transparency of superannuation retirement products by publishing data for the first time. This initiative is pivotal as the performance of these retirement products has a direct impact on the incomes that Australians receive during retirement.
The newly released data aims to shed light on investment returns, fees, costs, and investment strategies at the product level. This marks a progressive step in APRA’s ongoing effort to improve outcomes for members as they approach retirement.
APRA Deputy Chair Margaret Cole emphasised the importance of this initiative, stating, “With more and more Australians approaching and entering retirement, there is a critical need for more detailed retirement product information to help foster greater competition and innovation.”
The inaugural publication encompasses key performance data for 600 multi-sector investment options. In these cases, the trustee is responsible for setting the investment strategy or managing the investments. Key metrics included in the data are a breakdown of product fee structures, as well as investment strategies and their corresponding strategic asset allocations.
Looking ahead, APRA has indicated that further insights into retirement product data will be made available over time, including in the 2026 Comprehensive Product Performance Package (CPPP). This future data release will take into account the varying features and contexts of retirement products, contributing to an increasingly informed landscape for Australian retirees.
