APRA's two open consultations on superannuation reporting: what's changing
- Team Nuj
- 14 hours ago
- 5 min read
APRA currently has two open consultations relevant to superannuation reporting: a proposal to transition some of the remaining D2A superannuation data collections to APRA Connect, and a routine "minor updates to the prudential framework" consultation covering post-implementation fixes to Superannuation Data Transformation (SDT) standards. Both close for submissions on 21 August 2026.
This is our own reading of both consultations; we don't have the official word on either, so please reach out to APRA directly for any confirmation.
Of the two, Consultation 1 is the one worth your team's actual attention. It's a direct continuation of the shift we covered in D2A decommissioned: What superannuation funds need to know about the APRA Connect migration, and it's a rare case of a reporting change that reduces burden rather than adding to it, with fewer data items, not more. The trade-off is a move to finer-grained, consolidated reporting for SRF 533.0 in some cases, which is a process and system change worth mapping against your current build now, well ahead of the 31 December 2026 effective date, rather than closer to the deadline.
Consultation 2 is, as APRA's own framing suggests, largely housekeeping, and the breakdown below flags most items as requiring no action. The one item that isn't described that way is the SRF 553.3 "Aggregate" convention change: if your systems currently submit a blank value for aggregate rows, you will need to update it.
Our details on both are below, in case you want to check anything against your own reporting.
APRA Consultation 1: Transition of Superannuation D2A data collections to APRA Connect
APRA has released a consultation proposing amendments to some D2A reporting standards, as part of its broader transition of superannuation data collections from D2A to APRA Connect. Changes are intended to take effect for reporting periods ending from 31 December 2026 onwards.
By our reading, the proposed changes do not introduce any new data items, nor change how often you report or your due dates.
The required reported data items are being cut back, not added. Other than removal of data items, the main structural change is that both SRF 533.0 and SRF 610.2 forms move from the D2A lodgement method, where a separate submission was made for each MySuper product or investment option, to a single consolidated submission, with each row explicitly identified by reference to identifiers already used in SRF 605.0.
SRS 001.0 (Profile and Structure - Baseline)
This standard is being revoked in full. From reporting periods ending after 30 June 2026, no further reporting will be required under SRS 001.0.
SRS 533.0 (Asset Allocation)
Item 2.1 total investments is retained in Table 1; all other current data items will no longer be required.
The total investments will now be reported against the full combination of your Superannuation Product Identifier, Investment Menu Identifier, and Investment Option Identifier, rather than the existing reporting consolidation at the MySuper option level.
If any of your MySuper lifecycle investment options are reachable through more than one product and menu combination in SRF 606.0, the figure you currently report as a single number under SRS 533.0 will need to be reported as separate line items, one per pathway, under the new structure. The totals will still add up to the same overall figure, just split more finely.
SRS 610.2 (Membership Profile)
Items 1-4 (including sub items) are now reported in the new Table 1; Item 6 is now reported in the new Table 2. Other existing data items are not required to be reported on an ongoing basis.
Rather than reporting for each reporting consolidation (MySuper product) as per the existing form, both will now be reported against the equivalent Superannuation Product Identifier, so granularity remains unchanged.
SRS 101.0 (Definitions for Superannuation Data Collections)
This standard has been updated to formally reference both SRS 533.0 and SRS 610.2.
Four definitions previously set out locally within SRS 610.2's own instructions have been moved into SRS 101.0's central glossary for consistent use across all superannuation reporting standards. This is a housekeeping change only; the definitions themselves are unchanged.
Consultation 2: Minor updates to the prudential framework
APRA has released a routine "minor framework update" consultation covering technical and clarifying changes across a wide range of prudential and reporting standards. APRA expects to finalise the changes in November 2026, with the amended standards taking effect for reporting periods ending on or after 1 January 2027.
By our reading, this is genuinely minor for most funds: a handful of items are worth your attention, most require no action at all.
The consultation covers all industries. The superannuation-relevant slice is a set of post-implementation fixes to Superannuation Data Transformation (SDT) reporting standards already in use (SRS 332.0, 550.0, 551.0, 552.0, 553.0, and 605.0), driven by industry feedback since these standards went live.
New reportable categories in SRF 551.3 (Liquidity)
Three fields gain new selectable options not previously available: Investment Strategic Sector Listing Type gains "Unlisted"; Domicile Type gains "International Domicile"; International Economy Type gains "Developed Markets" (each also gains a "Not Specified" option). It would be worth checking whether any of your reported investments fall into these newly available categories.
A reporting convention change in SRF 553.3 (Investment Exposure Concentrations and Valuations)
Where reporting an investment identifier "in aggregate," the instruction changes from leaving the field blank to reporting the literal value "Aggregate." This is a sensible change (an explicit value is less error-prone than a blank field that could be a data omission). However, if your current process or system submits a blank value for aggregate rows, it will need updating to populate "Aggregate" instead.
Primary-key changes across several forms (SRF 550.3, 550.4, 551.0, 552.0, 553.0, 553.1)
A number of fields, mostly counterparty and investment identification details, are being added to the primary keys of several tables across these forms. This doesn't require anything from you; if anything, it makes it easier for your submissions to pass validation, since the wider key is more forgiving of what counts as a "duplicate" row. We believe several of the added fields shouldn't affect row uniqueness at all and intend to raise it with APRA directly, but from your side there's no practical impact and nothing to change.
A minor technical duplication in SRF 553.2/553.3 (not an issue for you)
Both forms add a character-length constraint to their Investment Option Identifier field. This is a non-issue in practice: your identifiers already need to match the corresponding identifier in SRF 605.0, which carries the same constraint, so nothing changes for anyone already reporting correctly.
What's next
For most funds, the practical to-do list here is short: map the SRF 533.0 and SRF 610.2 restructuring against your current build well ahead of the 31 December 2026 effective date, check whether your SRF 553.3 aggregate reporting needs updating from a blank field to "Aggregate," and take a quick look at whether any of your investments fall into the newly available categories in SRF 551.3.
Beyond that, there's nothing here that needs urgent action. Still, it's worth reading both consultations yourself rather than relying solely on our summary, given neither reading has been confirmed directly with APRA. If you read either consultation differently, or have other insights worth sharing with the industry, we'd like to hear them.
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