{"id":"F2015L00824","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 20 of 2015 - SRS 610.2 - Membership Profile","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-20-of-2015-srs-610-2-members","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":128617,"registerId":"commonwealth-F2015L00824-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Financial Sector (Collection of Data) (reporting standard) determination No. 20 of 2015 - SRS 610.2 - Membership Profile","content":"![](image.001.png)\n\nFinancial Sector (Collection of Data) (reporting standard) determination No. 20 of 2015\n\nReporting Standard SRS 610.2 Membership Profile\n\nFinancial Sector (Collection of Data) Act 2001\n\nI, Charles Littrell, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:\n\n(a) REVOKE Financial Sector (Collection of Data) (reporting standard) determination No. 91 of 2013, including Reporting Standard SRS 610.2 Membership Profile made under that Determination; and\n\n(b) DETERMINE Reporting Standard SRS 610.2 Membership Profile, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.\n\nUnder section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on 1 July 2015.\n\nThis instrument commences on the date of registration on the Federal Register of Legislative Instruments.\n\nDated: 10 June 2015\n\n\\[Signed\\]\n\nCharles Littrell\n\nExecutive General Manager\n\nPolicy, Statistics and International Division\n\nInterpretation\n\nIn this Determination:\n\nAPRA means the Australian Prudential Regulation Authority.\n\nfinancial sector entity has the meaning given by section 5 of the Act.\n\nSchedule\n\nReporting Standard SRS 610.2 Membership Profile comprises the 12 pages commencing on the following page.\n\n![](image.001.png)\n\nReporting Standard SRS 610.2\n\nMembership Profile\n\nObjective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA relating to the membership profile of a MySuper product.\n\nIt includes Form SRF 610.2 Membership Profile and associated specific instructions.\n\nAuthority\n\n1.  This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\nPurpose\n\n2. Information collected in Form SRF 610.2 Membership Profile (SRF 610.2) is used by APRA for the purposes of prudential supervision and publication.\n\nApplication and commencement\n\n3. This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each MySuper product within its business operations.[\\[1\\]](#_ftn1)\n\n4. This Reporting Standard applies for reporting periods ending on or after 1 July 2015.\n\nInformation required\n\n5. An RSE licensee to which this Reporting Standard applies must provide APRA with the information required by SRF 610.2 in respect of each reporting period.\n\nForms and method of submission\n\n6. The information required by this Reporting Standard must be given to APRA in electronic format using the ‘Direct to APRA’ application or, where ‘Direct to APRA’ is not available, by a method notified by APRA, in writing, prior to submission.\n\nNote: the ‘Direct to APRA’ application software (also known as ‘D2A’) may be obtained from APRA.\n\nReporting periods and due dates\n\n7. Subject to paragraph 8, an RSE licensee to which this Reporting Standard applies must provide the information required by this Reporting Standard in respect of each year of income of each RSE within which a MySuper product is located.\n\n8. If, having regard to the particular circumstances of an RSE licensee or MySuper product, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 7, APRA may, by notice in writing, change the reporting periods for the particular RSE licensee or MySuper product.\n\n9. The information required by this Reporting Standard must be provided to APRA:\n\n(a) within three months after the end of the year of income to which the information relates; and\n\n(b) in the case of information provided in accordance with paragraph 8, within the time specified by notice in writing.\n\n10. APRA may grant, in writing, an RSE licensee an extension of a due date with respect to one or more MySuper product within its business operations, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\nQuality control\n\n11. The information provided by an RSE licensee under this Reporting Standard must be the product of systems, procedures and internal controls that have been reviewed and tested by the RSE auditor of the RSE within which the MySuper product, to which the information relates, is located,.[\\[2\\]](#_ftn2) This will require the RSE auditor to review and test the RSE licensee’s systems, procedures and internal controls designed to enable the RSE licensee to report reliable information to APRA. This review and testing must be done on:\n\n(a) an annual basis or more frequently if necessary to enable the RSE auditor to form an opinion on the reliability and accuracy of information; and\n\n(b) at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of SPS 310.\n\n12. All information provided by an RSE licensee under this Reporting Standard must be subject to systems, processes and controls developed by the RSE licensee for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the RSE licensee to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.\n\nAuthorisation\n\n13. When an officer or agent of an RSE licensee provides the information required by this Reporting Standard using the ‘Direct to APRA’ software, it will be necessary for the officer or agent to digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n14. If the information required by this Reporting Standard is provided by an agent who submits using the ‘Direct to APRA’ software on the RSE licensee’s behalf, the RSE licensee must:\n\n(a) obtain from the agent a copy of the completed form with the information provided to APRA; and\n\n(b) retain the completed copy.\n\n15. An officer or agent of an RSE licensee who submits the information under this Reporting Standard for, on behalf of, the RSE licensee must be authorised by either:\n\n(a) the Chief Executive Officer of the RSE licensee; or\n\n(b) the Chief Financial Officer of the RSE licensee.\n\nVariations\n\n16. APRA may, by written notice to an RSE licensee, vary the reporting requirements of SRF 610.2 in relation to that RSE licensee or one or more MySuper products within that RSE licensee’s business operations.\n\nInterpretation\n\n17. In this Reporting Standard:\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n\nChief Executive Officer means the chief executive officer of the RSE licensee, by whatever name called, and whether or not he or she is a member of the Board of the RSE licensee[\\[3\\]](#_ftn3);\n\nChief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called;\n\ndue date means the relevant date under paragraph 9(c) or, if applicable, paragraph 10;\n\nMySuper product means a MySuper product within the meaning given in section 10(1) of the SIS Act regardless of whether or not it has a lifecycle investment strategy (within the meaning given in section 29TC(2) of the SIS Act);\n\nreporting period means a period mentioned in paragraph 7 or, if applicable, paragraph 8;\n\nRSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act;\n\nRSE auditor means an auditor appointed by the RSE licensee to perform functions under this Reporting Standard;\n\nRSE licensee has the meaning given in section 10(1) of the SIS Act;\n\nSIS Act means Superannuation Industry (Supervision) Act 1993; and\n\nyear of income has the meaning given in section 10(1) of the SIS Act.\n\n| SRF 610.2: Membership Profile |\n| ----------------------------- |\n\n| Australian Business Number | Institution Name |                         |\n| -------------------------- | ---------------- | ----------------------- |\n|                            |                  |                         |\n| Reporting Period           | Scale Factor     | Reporting Consolidation |\n|                            |                  |                         |\n\n| Member account movement |\n| ----------------------- |\n\n|                                                                   | Member accounts | Members' benefits |\n| ----------------------------------------------------------------- | --------------- | ----------------- |\n|                                                                   | (1)             | (2)               |\n| Member accounts at the beginning of the reporting period          |                 |                   |\n| 2. New member accounts                                            |                 |                   |\n| 2.1. of which: Rollovers                                          |                 |                   |\n| 2.2. of which: Successor fund transfers                           |                 |                   |\n| 3. Closed member accounts                                         |                 |                   |\n| 4. Member accounts at the end of the reporting period             |                 |                   |\n| 4.1. MySuper interest as a result of member investment choice     |                 |                   |\n| 4.2. MySuper interest not as a result of member investment choice |                 |                   |\n\n| Detailed member account segmentation |\n| ------------------------------------ |\n\n| 5. Segmentation of member account by age, gender and members' benefit bracket |\n| ----------------------------------------------------------------------------- |\n\n| Age bracket       | Gender                               | MySuper members' benefit bracket | Member accounts | Members' benefits |\n| ----------------- | ------------------------------------ | -------------------------------- | --------------- | ----------------- |\n| (1)               | (2)                                  | (3)                              | (4)             | (5)               |\n| <25               | Female                               | <1,000                           |                 |                   |\n| 25 to 34          | Male                                 | 1,000 to 24,999                  |                 |                   |\n| 35 to 44          | Intersex or Indeterminate            | 25,000 to 49,999                 |                 |                   |\n| 45 to 49          | Not stated or inadequately described | 50,000 to 99,999                 |                 |                   |\n| 50 to 54          |                                      | 100,000 to 199,999               |                 |                   |\n| 55 to 59          |                                      | 200,000 to 499,999               |                 |                   |\n| 60 to 64          |                                      | 500,000 to 999,999               |                 |                   |\n| 65 to 69          |                                      | 1,000,000+                       |                 |                   |\n| 70 to 74          |                                      |                                  |                 |                   |\n| 75 to 84          |                                      |                                  |                 |                   |\n| 85+               |                                      |                                  |                 |                   |\n| Age not available |                                      |                                  |                 |                   |\n\n  \n\n| 6. Members without insurance |\n| ---------------------------- |\n\n| Insurance type                 | Member accounts without insurance cover | of which: Without insurance cover due to member opt-out |\n| ------------------------------ | --------------------------------------- | ------------------------------------------------------- |\n| (1)                            | (2)                                     | (3)                                                     |\n| Life insurance                 |                                         |                                                         |\n| Total and permanent disability |                                         |                                                         |\n| Income protection              |                                         |                                                         |\n\n| 7. Membership in lifecycle strategy stages |\n| ------------------------------------------ |\n\n| Lifecycle strategy stage name | Lifecycle strategy stage identifier | Member accounts | Members' benefits |\n| ----------------------------- | ----------------------------------- | --------------- | ----------------- |\n| (1)                           | (2)                                 | (3)             | (4)               |\n|                               |                                     |                 |                   |\n\nReporting Form SRF 610.2\n\nMembership Profile\n\nInstructions\n\nThese instructions assist completion of Reporting Form SRF 610.0 Membership Profile (SRF 610.2). SRF 610.2 collects information on the membership profile of a MySuper product. The information reported in SRF 610.2 is required primarily for prudential and publication purposes.\n\nReporting level\n\nSRF 610.2 must be completed for each MySuper product.\n\nReporting basis and unit of measurement\n\nReport all items on SRF 610.2 in accordance with the Australian Accounting Standards unless otherwise specified.\n\nItems on SRF 610.2 must be reported in relation to MySuper interests only. Where a member account has both MySuper interests and non-MySuper interests, report only in respect of the MySuper interests.\n\nItems on SRF 610.2 must be reported as at the beginning and end of the reporting period and in respect of events during the reporting period.\n\nItems on SRF 610.2 are to be reported as thousands of dollars or as whole numbers.\n\nThese instructions specify the reporting basis and unit of measurement that applies to each item.\n\nSpecific instructions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\nMember account movement\n\nItem 1 to item 4 inclusive collects the change in member accounts and corresponding value of members’ benefits.\n\nReporting basis: report item 1 as at the beginning of the reporting period; report item 2 and item 3 with respect to events that occurred during the reporting period; report item 4 as at the end of the reporting period.\n\nUnit of measurement: report column 1 as a whole number; report column 2 as thousands of dollars.\n\n| Item 1                                 | Report the number and value of members’ benefits of member accounts at the beginning of the reporting period in item 1 column 1 and item 1 column 2, respectively.Report item 1 as equal to member accounts with a MySuper interest at the end of the reporting period reported in item 4 of the preceding reporting period, for column 1 and column 2 respectively.Report the value of defined contribution members’ benefits that are MySuper interests in column 2. Do not include defined benefit members’ benefits or unallocated contributions. |\n| -------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Member account                         | Represents a distinct entry recorded in the register of member accounts (or other equivalent mechanism).                                                                                                                                                                                                                                                                                                                                                                                                                                              |\n| Defined contribution members' benefits | Represents the present obligation to pay benefits to defined contribution members and beneficiaries. Reference: Australian Accounting Standards.                                                                                                                                                                                                                                                                                                                                                                                                      |\n| Defined benefit members' benefits      | Represents the present value of expected future benefit payments to defined benefit members and beneficiaries arising from membership, measured using actuarial assumptions and valuations where appropriate. The concept of defined benefit members’ benefits aligns with the concept of ‘defined benefit member liabilities’ as defined in Australian Accounting Standards.                                                                                                                                                                         |\n| Unallocated contributions              | Represents contributions received but not yet allocated to specific member accounts or reserves. Reference: Australian Accounting Standards.                                                                                                                                                                                                                                                                                                                                                                                                          |\n\n| Item 2                  | Report the number of new member accounts in item 2. Include only those member accounts that did not exist in the register of member accounts at the beginning of the reporting period.Report the portion of new member accounts reported in item 2 column 1 which are due to rollovers paid into the MySuper product, in item 2.1 and the portion of which are due to successor fund transfers in item 2.2. |\n| ----------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Rollover                | Represents an amount that is transferred between superannuation funds, approved deposit funds, deferred annuities or retirement savings accounts. Excludes: successor fund transfers. Reference: SIS Regulations, r. 5.01, r. 6.28 and 6.29.                                                                                                                                                                |\n| Successor fund transfer | Represents a transfer of a member’s benefits without the member’s consent from one RSE to a successor fund within the meaning given in r. 1.03 of the SIS Regulations. Reference: SIS Regulations, r. 6.29.                                                                                                                                                                                                 |\n\n  \n\n| Item 3 | Report the number of closed member accounts in item 3. Include only those member accounts that were removed from the register of member accounts during the reporting period. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n| Item 4                                                       | Report the number of member accounts in column 1 and value of MySuper interests in defined contribution members’ benefits in column 2. Do not include defined benefit members’ benefits or unallocated contributions.Report the number of member accounts with a MySuper interest at the end of the reporting period in item 4 column 1.Example: At the start of the reporting period, an RSE has 1000 accounts; 100 of these have a MySuper interest. During the reporting period: 5 new accounts are opened in the RSE with a MySuper interest; 3 accounts that had a MySuper interest are closed; 20 accounts that previously only had choice interests have a MySuper interest by the end of the reporting period; and 6 accounts that had a MySuper interest switch the entire balance into choice interests by the end of the reporting period. Thus, at the end of the reporting period there are: 100 + 5 – 3 + 20 – 6 = 116 accounts with a MySuper interest.Report the value of MySuper interests in defined contribution members’ benefits in item 4 column 2. Do not include defined benefit members’ benefits or unallocated contributions.Report the portion of member accounts at the end of the reporting period in item 4 that is attributable to a MySuper interest as a result of member investment choice in item 4.1 and the portion attributable to MySuper interest not as a result of member investment choice in item 4.2. |\n| ------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| MySuper interest as a result of member investment choice     | Represents a MySuper interest where the member exercised choice of investment option to direct any portion of their interest into the MySuper product. A direction may be given as an express investment instruction, a completed application form or a completed member investment choice form. Reference: SIS Act, s.10(1).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |\n| MySuper interest not as a result of member investment choice | Represents a MySuper interest where the member has not exercised choice of investment option to direct any portion of their interest into the MySuper product. Reference: SIS Act, s. 10(1).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n\nDetailed member account segmentation\n\nItem 5 collects member accounts and members’ benefits by the categories of member age bracket, gender and members’ benefit bracket.\n\nReporting basis: report item 5 as at the end of the reporting period.\n\nUnit of measurement: report column 4 as a whole number; report column 5 as thousands of dollars.\n\n| Item 5                           | Report each combination of age bracket, gender and members’ benefit bracket as a separate line. There is a maximum of 384 combinations possible.For each combination of age bracket, gender and members’ benefit bracket, report: age bracket in column 1, gender in column 2, members’ benefit bracket in column 3, the number of member accounts in column 4 and the value of members’ benefits in column 5.The age brackets are: <25, 25 to 34, 35 to 44, 45 to 49, 50 to 54, 55 to 59, 60 to 64, 65 to 69, 70 to 74, 75 to 84, 85+ and age not available.The MySuper member benefit brackets are: <1000, 1000 to 24,999, 25,000 to 49,000, 50,000 to 99,999, 100,000 to 199,999, 200,000 to 499,999, 500,000 to 999,999 and 1,000,000+.Report the total value of defined contribution members’ benefits in column 5. Do not include defined benefit members’ benefits or unallocated contributions.Report liabilities which cannot be allocated to specific members as ‘age not available’ in item 5. In this case, enter zero in column 4 and the liability value in column 5. |\n| -------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Age bracket                      | Represents a segmentation of data based on the age of the member in years.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |\n| MySuper members’ benefit bracket | Represents a segmentation of data based on the liability for member benefits owing to defined contribution members. Excludes: defined benefits members’ benefits and unallocated contributions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |\n| Age not available                | Represents where the date of birth of a member is not known.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |\n\nMembers without insurance\n\nItem 6 collects member accounts that do not have insurance cover.\n\nReporting basis: report item 6 as at the end of the reporting period.\n\nUnit of measurement: report column 2 and column 3 as a whole number.\n\n| Item 6                                   | Report the insurance type in column 1. Report the number of member accounts in column 2 and column 3.For each insurance type in column 1, report the number of member accounts in column 2 that do not have insurance cover and the portion that do not have insurance cover because of member opt-out in column 3.The insurance types are: life insurance, total and permanent disability and income protection. |\n| ---------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Life insurance                           | Represents a benefit, in respect of each member, that is payable only in the event of the death of the member and which is provided by taking out insurance. Includes: life insurance policies offered through superannuation only and insurance premiums are commissions. Reference: SIS Act, s. 68AA(1)(b).                                                                                                     |\n| Total and permanent disability insurance | Represents a benefit, in respect of each member, that is payable only if the member is suffering permanent incapacity. Reference: SIS Act s. 68AA, s. 10(1).                                                                                                                                                                                                                                                      |\n| Income protection insurance              | Represents the temporary incapacity cover provided to members, where temporary incapacity insurance cover has the meaning given in the SIS Regulations, r. 6.01.                                                                                                                                                                                                                                                  |\n| Member opt-out                           | Represents where a member has provided an instruction to the RSE licensee to not have insurance cover.                                                                                                                                                                                                                                                                                                            |\n\nMembership in lifecycle strategy stages\n\nItem 7 collects information about the number of member accounts and value of member benefits in each lifecycle strategy stage for a MySuper product with a lifecycle investment strategy.\n\nReporting basis: report item 7 as at the end of the reporting period.\n\nUnit of measurement: report column 3 as a whole number and column 4 in thousands of dollars.\n\n| Item 7 | Report each lifecycle strategy stage as a separate line in item 7. If the MySuper product does not have a lifecycle investment strategy, leave item 7 blank.Report the name of the lifecycle strategy stage as reported on Reporting Form SRF 001.0 Profile and Structure (Baseline) (SRF 001.0) in column 1.Report the unique identifier of the lifecycle strategy stage as reported on SRF 001.0 in column 2.For each lifecycle strategy stage, report the number of member accounts in column 3 and the value of defined contribution members’ benefits in column 4. |\n| ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\nInterpretation\n\nFor the purposes of these instructions:\n\n-   lifecycle strategy stage means a subset of members’ interests in a lifecycle investment strategy that has a common asset allocation as identified by the RSE licensee;\n-   lifecycle investment strategy has the meaning given in section 29TC(2) of the SIS Act;\n-   MySuper product means a MySuper product within the meaning given in section 10(1) of the SIS Act regardless of whether or not it has a lifecycle investment strategy;\n-   RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act;\n-   RSE licensee has the meaning given in section 10(1) of the SIS Act;\n-   SIS Act means Superannuation Industry (Supervision) Act 1993; and\n-   SIS Regulations means Superannuation Industry (Supervision) Regulations 1994.\n\n---\n\n[\\[1\\]](#_ftnref1) For the purposes of this Reporting Standard, an ‘RSE licensee’s business operations’ includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee. For the avoidance of doubt, if the RSE licensee is trustee of more than one MySuper product, the RSE licensee must separately provide the information required by the form for each MySuper product within its business operations. An RSE licensee that does not have any MySuper products within its business operations is not required to provide information under this Reporting Standard.\n\n[\\[2\\]](#_ftnref2) Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).\n\n[\\[3\\]](#_ftnref3) Refer to Prudential Standard SPS 510 Governance.","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"This legislation maintains its original scope. It is a technical update (revoking and replacing Determination No. 91 of 2013) that continues the established framework for collecting membership profile data from superannuation funds. The scope remains tightly focused on MySuper product membership data collection for prudential supervision purposes, consistent with the original intent of the Financial Sector (Collection of Data) Act 2001."},"complexity_factors":["Moderate length (12 pages of substantive content plus determination instrument)","17 defined terms in the Reporting Standard itself, plus cross-references to external legislation (SIS Act, SIS Regulations, Australian Accounting Standards)","Nested reporting requirements with multiple dimensions (age × gender × balance brackets = up to 384 possible combinations)","Conditional logic for lifecycle investment strategies (Item 7 only applies if the product has such a strategy)","Cross-references to other prudential standards (SPS 310, SPS 510) and reporting forms (SRF 001.0)","Specific accounting treatment requirements (exclusion of defined benefit liabilities and unallocated contributions)","Dual reporting basis requirements (point-in-time for some items, events-based for others)","Quality control requirements involving external audit assurance"],"plain_english_summary":"This reporting standard requires RSE licensees to annually submit Form SRF 610.2 to APRA with detailed MySuper product data — membership counts and demographics, insurance coverage, and lifecycle strategy membership — so APRA can supervise prudential health and publish statistics. It affects trustees (who must report), APRA (as regulator), and indirectly members (whose data is reported). The standard replaced the 2013 version and took effect 1 July 2015."},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"The instrument revokes Determination No. 91 of 2013 and reissues Reporting Standard SRS 610.2 (see opening recital and para 1). The text applies to each RSE licensee in respect of each MySuper product and sets reporting periods from 1 July 2015 (paras 3–4). The document does not, on its face, expand or narrow the classes of entities required to report beyond the rule it replaces; it updates the reporting form and procedural requirements."},"complexity_factors":["Detailed data granularity: segmentation by age, gender and members’ benefit brackets with up to 384 line combinations (Item 5).","Multiple measurement rules: whole numbers vs thousands of dollars; separate treatments for defined contribution benefits, defined benefit liabilities and unallocated contributions (Reporting basis; Item 1, Item 4, Item 5).","Periodic reporting regime with standard annual timing, but APRA may change frequency or grant extensions by notice (paras 7–10, 16).","Quality control and audit requirements: RSE auditor must review and test systems annually and provide at least a limited assurance engagement consistent with professional standards (para 11).","Submission and authorisation mechanics: electronic submission via *Direct to APRA*, digital certificates required, agent submission retention and authorised submitter rules (paras 6, 13–15).","APRA discretion to vary reporting requirements for individual RSE licensees or products (paras 8, 16), creating potential heterogeneity in obligations across reporters.","Cross-references to external law and standards (SIS Act, SIS Regulations, Australian Accounting Standards, SPS 310) increase interpretive burden (Interpretation, footnotes).","Specific definitions and exclusions (e.g. MySuper interests only; exclude defined benefit members’ benefits and unallocated contributions) require data filtering and system logic (Interpretation; Item instructions).","Recordkeeping and internal control obligations lie with board and senior management, implying governance and compliance costs (para 12)."],"plain_english_summary":"**This Determination replaces the 2013 reporting standard with SRS 610.2 and requires each RSE licensee to submit detailed annual membership data for every MySuper product to APRA via *Direct to APRA*, generally due three months after year‑end.** APRA uses the data for prudential supervision and publication. RSE licensees bear the compliance costs: they must maintain tested systems, obtain RSE auditor review (limited assurance), use digital signatures, retain agent submissions and comply with APRA notices that can vary frequency or grant extensions."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-20-of-2015-srs-610-2-members","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-20-of-2015-srs-610-2-members/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-20-of-2015-srs-610-2-members/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-20-of-2015-srs-610-2-members/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-20-of-2015-srs-610-2-members/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-20-of-2015-srs-610-2-members/documents"}}