Regulatory AlertsSPS 160 Defined Benefit Matters
The Australian Prudential Regulation Authority issued Prudential Standard SPS 160 to require RSE licensees of defined benefit funds to ensure assets can meet liabilities when due. The standard mandates the appointment of an RSE actuary to conduct regular, initial, and interim investigations into the fund's financial position. Licensees must implement restoration plans to address unsatisfactory financial positions and manage self-insurance arrangements through actuarial oversight and contingency planning.
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