Regulatory AlertsSPG 515 Strategic Planning and Member Outcomes
The Australian Prudential Regulation Authority issued Prudential Practice Guide SPG 515 to outline sound practices for registrable superannuation entity licensees regarding strategic planning, financial resource management, and member outcomes. The guide requires licensees to establish measurable strategic objectives, maintain a rolling three-year business plan, and conduct triennial reviews of their retirement income strategies to ensure alignment with beneficiary interests. It further mandates prudent fee setting, robust reserve management, and rigorous expenditure controls to demonstrate that all spending supports the best financial interests of members and the sound operation of the entity.
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