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Long-term focus needed when viewing Quarterly MySuper Stats: APRA
People should take a long-term view when assessing the Australian Prudential Regulation Authority (APRA) Quarterly MySuper Statistics reports, according to the regulator.
Speaking at the Senate Standing Committee on Economics hearing in Canberra, yesterday, APRA chairman, Wayne Byres, urged caution in analysing the initials Quarterly MySuper Statistics reports, covering the four quarters ending September 2013 to June 2014.
"These publications mark an important milestone in the Stronger Super reform process, and are part of a much broader and richer suite of superannuation publications that APRA is implementing," he said.
"However, it is critically important that users of the statistics remember that long-term performance is the key determinant of members' retirement outcomes and consider all aspects of the products that are provided - not just investment returns over short periods.
"For MySuper products in particular, it will be sometime yet before there is sufficient information available to assess the impact of the reforms in enhancing outcomes for members."
AUTHOR
Nicholas O'Donoghue
Nicholas is a journalist for Money Management and Super Review. Nicholas has several years experience as a journalist, reporting and managing websites for various news publications covering the medical and pharmaceuticals sector.
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