Super Alert – 11 September 2026: APRA final consultation on Government’s Retirement Reporting Framework & quarterly super statistics, ASIC infringement notices

Welcome to the weekly KHQ Super Alert. This week, APRA released a final consultation on proposals to implement the Government’s Retirement Reporting Framework and published quarterly superannuation statistics. ASIC issued infringement notices to some superannuation trustees for misleading investment disclosures. The ATO issued reminders about upcoming reporting obligations relating to member account balances, unclaimed super money and lost member data, and published updated SFT and IFT forms.

APRA – Final consultation on proposals to implement the Government’s Retirement Reporting Framework

On 10 September 2026, APRA released revised draft reporting standards and supporting materials to implement the Government’s Retirement Reporting Framework, along with APRA’s response to submissions received during the initial consultation.

As mentioned in our Super Alert of 27 March 2026, it is proposed that:

• ‘[d]ata is expected to be collected by APRA on an annual basis from 2027 to enable publication from 2028, to provide insights on fund offerings and member outcomes, and help track progress with retirement phase uplift’;
• ‘APRA will publish data annually commencing in 2028’;
• ‘APRA and the Australian Securities and Investments Commission (ASIC) will jointly use the data as part of tracking progress by RSE licensees against retirement income strategies required by the Retirement Income Covenant’; and
• ‘APRA will share the data with ASIC, Treasury and other relevant government agencies’.

In response to feedback, APRA has ‘significantly revised the package, including by streamlining data requirements, refining methodologies and definitions, and developing a new reporting practice guide’.

The revised reporting standards are open for consultation until 9 October 2026.

Click here for details.

APRA – Quarterly superannuation statistics released

On 9 September 2026, APRA released the latest quarterly superannuation industry publication, quarterly superannuation product statistics and the quarterly fund-level statistics for the quarter ended 30 June 2026. These materials contain ‘data on superannuation products, investment options, member demographics and investments’.

The statistics show that as at 30 June 2026, total superannuation member assets were sitting at A$2.98 trillion, spread across 797 superannuation products.

Click here, here and here for details.

ASIC – Infringement notices issued for misleading investment disclosures

On 8 September 2026, ASIC published a media release announcing that it had ‘issued six infringement notices totalling $118,800 to trustees of three superannuation funds after identifying alleged false or misleading representations about their superannuation investment options during a review of disclosures on superannuation trustees’ websites’.

ASIC identified a number of alleged discrepancies between representations made by the trustees and the actual characteristics of investment options, inaccuracies relating to asset allocations and performance objectives.

ASIC’s media release makes clear that payment of an infringement notice ‘is not an admission of guilt or liability’.

ASIC’s action forms part of an ‘ongoing focus on holding superannuation trustees to account for member services and disclosure failures and reinforcing the importance of accurate and consistent investment disclosures’.

Click here for details.

ATO – Reminder to report account balances and other annual amounts

On 7 September 2026, the ATO published a reminder for trustees to report members’ 30 June account balances and other annual amounts to the ATO by 31 October 2026 using the Member Account Transaction Service. This includes ‘super accumulation account balance, notional taxed contributions, and defined benefit contributions’.

Any errors in balance reporting need to be corrected within 30 days of the trustee becoming aware of an error or omission.

Click here for details.

ATO – Reminder about unclaimed super money and lost member data obligations

On 7 September 2026, the ATO published a reminder to trustees to assess, report and pay unclaimed super money and complete lost member reporting to the ATO by 31 October 2026. Trustees must report and pay for:

• unclaimed super monies;
• former temporary residents’ unclaimed super;
• small and insoluble lost member accounts; and
• inactive low-balance accounts.

If a trustee does not have any unclaimed super money, lost member accounts, or inactive low balance accounts to report and pay, the trustee must still lodge a non-lodgment advice.

Additionally, trustees must assess the lost status of members twice a year, between 31 December and 30 April and between 30 June and 31 October.

Click here for details.

ATO – Updated SFT and IFT forms released

On 7 September 2026, the ATO announced that it has updated its Successor Fund Transfer and Intra Fund Transfer forms.

According to the ATO the key changes include requiring the details of:

• the public officer of the corporate trustee of the transferring fund; and
• the tax agent of the fund.

Click here for details.

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