The Australian Prudential Regulation Authority (APRA) initiated a public consultation today, March 23, 2026, regarding the implementation of the Government’s Retirement Reporting Framework. The move follows the Government’s finalization of the framework’s high-level design on February 23, 2026, after a period of consultation led by Treasury throughout 2025.
APRA will be responsible for collecting and publishing the data necessary to operationalize the framework, a key component of broader government efforts to enhance the retirement phase of Australia’s superannuation system. These initiatives were initially announced in November 2024, aiming to bring the same level of scrutiny and policy focus to retirement as currently exists for the accumulation phase.
According to an APRA statement, the regulator intends to approach the implementation “through the lens of ‘getting the balance right’,” seeking a practical and effective rollout without imposing undue burdens on the industry. APRA specifically invited feedback from industry stakeholders and the public on potential refinements to the proposed implementation approach.
The Retirement Reporting Framework is designed to improve transparency and encourage innovation among superannuation trustees, ultimately aiming to deliver better retirement outcomes for Australians. The Treasury noted that over 2.5 million Australians are expected to retire in the next decade, underscoring the urgency of strengthening the system.
APRA will gather feedback through industry roundtables and written submissions, with a deadline of June 3, 2026, for all submissions. The consultation package, including a draft reporting standard (SRS 101.0 – Definitions for Superannuation Data Collections) and supplementary technical papers detailing data calculation and mapping, is available on the APRA website. Draft standards SRS 607.0 (RSE Business Model) and SRS 611.1 (Retirement Member Profile) have as well been released for review.
APRA’s policy dictates that all submissions received will be published on its website unless respondents explicitly request confidentiality in writing. Submissions may also be subject to access requests under the Freedom of Information Act 1982.
