APRA reissues 2022 MySuper heatmap data – no funds saved
The Australian Prudential Regulation Authority (APRA) has reissued its 2022 MySuper Heatmap to ensure the correct international index data is correctly reflected while insisting that the move actually changes very little.
More importantly, APRA said that the change will not serve to save any of the superannuation funds which were deemed to have fallen short on the last heatmaps exercise.
Indeed, the formal APRA announcement to superannuation funds said “the reissue of the MySuper heatmap has not resulted in any changes to the products identified as having poor performance or significantly poor performance in December 2022, or to the performance test determinations issued in August 2022.
In answers to frequently asked questions attaching to the reissue, APRA issued a reassurance that the correct international index data was used in all MySuper heatmaps in previous years.
As well, it said that all performance test determinations that were issued in August, last year, are unaffected.
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