{"id":"F2013L00980","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 66 of 2013 - SRS 160.0 - Defined Benefit Matters","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-66-of-2013-srs-160-0-defined","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":90723,"registerId":"commonwealth-F2013L00980-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Financial Sector (Collection of Data) (reporting standard) determination No. 66 of 2013 - SRS 160.0 - Defined Benefit Matters","content":"![](image.001.png)\n\nFinancial Sector (Collection of Data) (reporting standard) determination No. 66 of 2013\n\nReporting Standard SRS 160.0 Defined Benefit Matters\n\nFinancial Sector (Collection of Data) Act 2001\n\nI, Steven John Davies, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) DETERMINE Reporting Standard SRS 160.0 Defined Benefit Matters, in the form set out in the Schedule, which applies to 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 applies to those financial sector entities on and after 1 July 2013.\n\nThis instrument commences on the date of registration on the Federal Register of Legislative Instruments.\n\nDated: 3 June 2013\n\n\\[signed\\]\n\nSteven John Davies\n\nGeneral Manager\n\nStatistics\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\n \nSchedule\n\nReporting Standard SRS 160.0 Defined Benefit Matters comprises the 14 pages commencing on the following page.\n\n![](image.002.png)\n\nReporting Standard SRS 160.0\n\nDefined Benefit Matters\n\nObjective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA relating to interests in a defined benefit registrable superannuation entity, sub-fund, small APRA fund or single member approved deposit fund.\n\nIt includes Form SRF 160.0 Defined Benefit Matters and associated specific instructions and must be read in conjunction with Prudential Standard SPS 160 Defined Benefit Matters.\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 160.0 Defined Benefit Matters (SRF 160.0) is used by APRA for the purposes of prudential supervision and publication, including assessing compliance with Prudential Standard SPS 160 Defined Benefit Matters (SPS 160).\n\nApplication and commencement\n\n3. This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each defined benefit RSE, sub-fund and small APRA fund (SAF) within its business operations.[\\[1\\]](#_ftn1)\n\n4. This Reporting Standard applies for reporting periods ending on or after 1 July 2013.\n\nInformation required\n\n5. An RSE licensee to which this Reporting Standard applies must provide APRA with the information required by SRF 160.0 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:\n\n(a) each defined benefit RSE or SAF; or\n\n(b) each RSE within which a sub-fund is located\n\nwithin its business operations.\n\n8. If, having regard to the particular circumstances of a defined benefit RSE, sub-fund or SAF, 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 defined benefit RSE, sub-fund or SAF.\n\n9. The information required by this Reporting Standard must be provided to APRA:\n\n(a) for reporting periods ending on or after 1 July 2013 but before 1 July 2015 – within four months after the end of the year of income to which the information relates;\n\n(b) for reporting periods ending on or after 1 July 2015 – within three months after the end of the year of income to which the information relates; and\n\n(c) 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 defined benefit RSEs, sub-funds or SAFs 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 defined benefit RSE, SAF or the RSE within which the sub-fund, 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 160.0 in relation to that RSE licensee or one or more defined benefit RSEs, sub-funds or SAFs 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\ndefined benefit RSE means an RSE that is a defined benefit fund within the meaning given in SPS 160;\n\ndue date means the relevant date under paragraph 9 or, if applicable, paragraph 10;\n\nreporting period means a period mentioned in paragraph 7(a) 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;\n\nSIS Regulations means Superannuation Industry (Supervision) Regulations 1994;\n\nsmall APRA fund (SAF) means a regulated superannuation fund, within the meaning given in section 10(1) of the SIS Act, which has fewer than five members and which meets the definition of defined benefit fund in SPS 160;\n\nsub-fund means a defined benefit sub-fund within the meaning given in SPS 160; and\n\nyear of income has the meaning given in section 10(1) of the SIS Act.\n\n| SRF 160.0: Defined Benefit Matters |\n| ---------------------------------- |\n\n| Australian Business Number | Institution Name | |\n| -------------------------- | ---------------- | ----------------------- |\n| | | |\n| Reporting Period | Scale Factor | Reporting Consolidation |\n| | | |\n\n| Defined benefits measures |\n| ------------------------- |\n\n```html\n

Defined benefit interests

Defined contribution interests

Total interests

Index

(1)

(2)

(3)

(4)

1.1. Accrued benefits

1.2. Vested benefits

1.3. Minimum benefits

1.4. Net assets available for members’ benefits (net of ORFR reserves)

1.5. Date of defined benefits measures

\n```\n\n| Shortfall limit | |\n| --------------- | --- |\n\n| 3. Actuarial projection assumptions |\n| ----------------------------------- |\n\n| 2.Long term investment return assumption | |\n| ---------------------------------------------- | --- |\n| 3.2. Long term wage growth assumption | |\n| 3.3. Long term consumer price index assumption | |\n| 3.4. Date of actuarial projection assumptions | |\n\n| Weighted average term and certificate information |\n| ------------------------------------------------- |\n\n| 4. Weighted average term of projected defined benefit liabilities |\n| ----------------------------------------------------------------- |\n\n| 3.4.4.1. Weighted average term of defined benefit liabilities | |\n| ------------------------------------------------------------- | --- |\n| 4.2. Date of weighted average term calculation | |\n\n| 5. Certificates |\n| --------------- |\n\n| 5.1. Current effective date of funding and solvency certificate | |\n| --------------------------------------------------------------- | ----------------- |\n| | |\n| | Notifiable events |\n| 5.2. Have any notifiable events occurred? | Yes |\n| | No |\n\n| 5.3. Date of benefit certificate | |\n| -------------------------------- | --- |\n\n| | Financial position type |\n| ------------------------------- | --------------------------------- |\n| 5.4. Current financial position | Satisfactory financial position |\n| | Unsatisfactory financial position |\n| | Technically insolvent |\n\n| 5.5. Financial position change | |\n| --------------------------------- | ---- |\n| Financial position type | Date |\n| (1) | (2) |\n| Satisfactory financial position | |\n| Unsatisfactory financial position | |\n| Technically insolvent | |\n\n| Detailed member segmentation |\n| ---------------------------- |\n\n| 6. Age segmentation |\n| ------------------- |\n\n| Age brackets | Member accounts | Members’ benefits |\n| ----------------- | --------------- | ----------------- |\n| (1) | (2) | (3) |\n| <25 | | |\n| 25 to 34 | | |\n| 35 to 44 | | |\n| 45 to 49 | | |\n| 50 to 54 | | |\n| 55 to 59 | | |\n| 60 to 64 | | |\n| 65 to 69 | | |\n| 70 to 74 | | |\n| 75 to 84 | | |\n| 85+ | | |\n| Age not available | | |\n\n| 7. Membership type segmentation |\n| ------------------------------- |\n\n| | Member accounts | Members’ benefits |\n| ---------------------------------------------------------------------- | --------------- | ----------------- |\n| | (1) | (2) |\n| 7.1. Defined benefit interests only | | |\n| 7.2. Defined contribution interests only | | |\n| 7.3. Both defined benefit interests and defined contribution interests | | |\n| 7.3.1. Defined benefit interests | | |\n| 7.3.2. Defined contribution interests | | |\n| 7.4. Total | | |\n| 7.4.1. of which are: Defined benefit pensions | | |\n\nReporting Form SRF 160.0\n\nDefined Benefit Matters\n\nInstructions\n\nThese instructions assist completion of Reporting Form SRF 160.0 Defined Benefit Matters (SRF 160.0). SRF 160.0 collects information on defined benefit matters. Information reported in SRF 160.0 is required primarily for prudential and publication purposes.\n\nReporting level\n\nSRF 160.0 must be completed for each defined benefit RSE, sub-fund and small APRA fund (SAF) that has at least one defined benefit member.\n\nFor each defined benefit RSE, report information relating to defined benefit members not accounted for in a sub-fund and defined benefit members in a sub-fund.\n\nReporting basis and unit of measurement\n\nReport all items on SRF 160.0 in accordance with the Australian Accounting Standards unless otherwise specified.\n\nItems on SRF 160.0 must be reported as at the end of the reporting period or with respect to transactions that occurred during the reporting period.\n\nItems on SRF 160.0 are to be reported as thousands of dollars, a whole number, a number to one decimal place, a percentage to one decimal place or date. Report dates as DD/MM/YYYY.\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\nDefined benefit measures\n\nItem 1 collects liabilities and net assets underlying the financial position of the defined benefit RSE, sub-fund or SAF, as appropriate.\n\nReporting basis: report item 1.1 to item 1.4 inclusive as at the date reported in item 1.5.\n\nUnit of measurement: report column 1 to column 3 in thousands of dollars; report column 4 as a percentage to one decimal place. Report item 1.5 as DD/MM/YYYY.\n\n| Item 1 | Report accrued benefits in item 1.1, vested benefits in item 1.2, minimum benefits in item 1.3 and net assets available for member benefits (net of ORFR reserves) in item 1.4. These items are to be reported as the most up to date information available to the RSE licensee at the end of the reporting period. This may be at the date of the last actuarial investigation or it may be based on a more recent estimate. Report the date of the most up to date information reported in item 1.1 to item 1.4 inclusive, in item 1.5.For item 1.1 to item 1.4 inclusive, report defined benefit interests of defined benefit members in column 1 and defined contribution interests of both defined benefit members and members who are not defined benefit members in column 2.Column 3 is a derived item. For item 1.1 to item 1.4 inclusive, report total interests in column 3 as the sum of the amounts reported in column 1 and column 2.Item 1.1 column 4 is a derived item. Report the accrued benefit index in item 1.1 column 4 as net assets available for members’ benefits (net of ORFR reserves) for defined benefit interests reported in item 1.4 column 1 divided by the defined benefit interests in accrued benefits reported in item 1.1 column 1.Item 1.2 column 4 is a derived item. Report the vested benefit index in item 1.2 column 4 as net assets available for members’ benefits (net of ORFR reserves) for defined benefit interests reported in item 1.4 column 1 divided by the defined benefit interests in vested benefits reported in item 1.2 column 1.Item 1.3 column 4 is a derived item. Report the minimum benefit index in item 1.3 column 4 as net assets available for members’ benefits (net of ORFR reserves) for defined benefit interests reported in item 1.4 column 1 divided by the defined benefit interests in minimum benefits reported in item 1.3 column 1.Example: if defined benefit interests in vested benefits are $10,000,000 and the net assets available for member benefits (net of ORFR reserves) for defined benefit interests are $10,500,000 then the vested benefits index is to be reported as 105.0%. |\n| --------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Actuarial investigation | Represents an investigation undertaken by the RSE actuary. Reference: SIS Regulations, r. 9.27, r. 9.29; Prudential Standard SPS 160 Defined Benefit Matters. |\n| Accrued benefits | Represents the benefits to which members have an absolute or potential entitlement on account of the length of time as a member of the RSE. Includes: Any amount that would be payable out of those benefits to the member's spouse or former spouse under a payment split. Reference: SIS Regulations, r. 9.27. |\n| Vested benefits | Represents the benefit payable to a member of an RSE if the member voluntarily terminated service with their employer and/or withdrew membership from the RSE. Reference: SIS Act, s. 83A. |\n| Minimum benefits | Represents a member's minimum benefit that is required to be paid, where minimum benefit has the meaning given in SIS Regulations, r. 5.04. |\n| Net assets available for member benefits (net of ORFR reserves) | Represents the surplus of total assets less total liabilities which are underlying the value of members’ benefits, excluding the value of reserves held to meet the operational risk financial requirement. Reference: Prudential Standard SPS 160 Defined Benefit Matters, Prudential Standard SPS 114 Operational Risk Financial Requirement. |\n| Defined benefit interests | Represents a member interest that is a defined benefit interest or a defined benefit pension. Reference: SIS Regulations, r. 1.03AA, r. 9.04E. |\n| Defined contribution interests | Represents the portion of a member's interest in an RSE that is not a defined benefit interest. Reference: SIS Regulations, r. 1.03. |\n\nShortfall limit\n\nItem 2 collects the shortfall limit of the defined benefit RSE, sub-fund or SAF, as appropriate.\n\nReporting basis: report item 2 as at the end of the reporting period.\n\nUnit of measurement: report item 2 as a percentage to one decimal place.\n\n| Item 2 | Report the shortfall limit in item 2.Example: if the Board of the RSE licensee has determined that a vested benefits index level of 95.0% is the shortfall limit, report 95.0 in item 2. |\n| --------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Shortfall limit | Represents the ratio of net assets available for members’ benefits (net of ORFR reserves) of defined benefit interests to defined benefit interests in vested benefits determined by the Board of the RSE licensee to be the shortfall limit within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters. |\n\nActuarial projection assumptions\n\nItem 3 collects the actuarial projection assumptions used at the most recent actuarial investigation of the defined benefit RSE, sub-fund or SAF, as appropriate.\n\nReporting basis: report item 3.1 to item 3.3 inclusive as at date of the most recent actuarial investigation reported in item 3.4.\n\nUnit of measurement: report item 3.1 to item 3.3 inclusive as a percentage to two decimal places; report item 3.4 as DD/MM/YYYY.\n\n| Item 3 | Report the long term assumption used for projections of: investment return in item 3.1, wage growth in item 3.2 and CPI in item 3.3. Report the date of the most recent actuarial investigation during which the actuarial projection assumptions were set, in item 3.4.If the RSE actuary uses different assumptions for long term timeframes and short term timeframes, do not report the short term assumptions. |\n| ----------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Investment return | Represents the investment return net of investment fees, costs and taxes. Exclude: all non-investment related fees and taxes, e.g. administration fees and taxes. |\n| Wage growth | Represents the growth in wages. |\n| CPI | Represents the consumer price index. |\n\nWeighted average term of defined benefit liabilities\n\nItem 4 collects the weighted average term of defined benefit liabilities and the date this was last calculated of the defined benefit RSE, sub-fund or SAF, as appropriate.\n\nReporting basis: report item 4.1 as at the date reported in item 4.2.\n\nUnit of measurement: report item 4.1 as a number to one decimal place; report item 4.2 as DD/MM/YYYY.\n\n| Item 4 | Report the weighted average term of defined benefit liabilities in years, in item 4.1.Report the effective date of the weighted average term calculation reported in item 4.1 in item 4.2. |\n| ---------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Weighted average term of defined benefit liabilities | Represents the duration of accrued benefit payments due to members under the defined benefit arrangements. |\n\nCertificates\n\nItem 5 collects information about benefit certificates and funding and solvency certificates of the defined benefit RSE, sub-fund or SAF, as appropriate.\n\nReporting basis: report item 5.1, item 5.3 and item 5.4 as at the end of the reporting period. Report item 5.2 and item 5.5 with respect to transactions that occurred during the reporting period.\n\nUnit of measurement: report item 5.1, item 5.3 and item 5.5 column 2 as DD/MM/YYYY.\n\n| Item 5 | Report the effective date of the current funding and solvency certificate in item 5.1.If a notifiable event has occurred, report ‘yes’ in item 5.2; otherwise, report ‘no’.Report the effective date of the current benefit certificate in item 5.3.Report the current financial position type as indicated by the RSE actuary in item 5.4. The financial position types are: satisfactory financial position, unsatisfactory financial position or technically insolvent.If the RSE actuary has indicated that there has been a change in financial position type, report each change as a separate line in item 5.5; otherwise leave item 5.5 blank. Report the financial position type in column 1 and the date the change became effective in column 2.Example: At the beginning of the reporting period, the financial position type of the defined benefit sub-fund was technically insolvent; On 30 October 2013, the RSE actuary advised that the financial position type of the defined benefit sub-fund was unsatisfactory financial position. Subsequently on 28 February 2014 (in the same reporting period), the RSE actuary advised that the financial position type of the defined benefit sub-fund was satisfactory financial position. Report satisfactory financial position in item 4.4; report on one line in item 4.5, unsatisfactory financial position in column 1 and 30/10/2013 in column 2; report on another line in item 4.5, satisfactory financial position in column 1 and 28/02/2014 in column 2. |\n| --------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Funding and solvency certificate | Represents the funding and solvency certificate within the meaning given in SIS Regulations, r. 9.11. |\n| Notifiable event | Represents a notifiable event within the meaning given in SIS Regulations, r. 9.06(1). |\n| Satisfactory financial position | Represents a satisfactory financial position within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters. |\n| Unsatisfactory financial position | Represents an unsatisfactory financial position within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters. |\n| Technically insolvent | Represents technical insolvency within the meaning given in SIS Regulations, r. 9.06(3). |\n| Benefit certificate | Represents the benefit certificate that has been obtained from an actuary. Reference: SGA Act, s. 10. |\n\nDetailed member segmentation\n\nItem 6 categorises the membership and vested benefits of the sub-fund by age bracket. For a defined benefit RSE or SAF, leave item 6 blank.\n\nReporting basis: report item 6 as at the end of the reporting period.\n\nUnit of measurement: report item 6 column 2 as a whole number; report item 6 column 3 in thousands of dollars.\n\n| Item 6 | Report item 6 for each sub-fund. For a defined benefit RSE or SAF, leave item 6 blank. This information is reported on Reporting Form SRF 610.0 Membership Profile for each defined benefit RSE and is not required for SAFs.Report each age bracket for which there exist member accounts as a separate line in column 1. 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.For each age bracket, report the number of member accounts of both defined benefit members and members who are not defined benefit members in column 2. Where each member has only one member account, the number of member accounts would equal the number of members.For each age bracket, report the value of members’ benefits in column 3 as the sum of defined contribution members’ benefits and defined benefit members’ benefits. Do not include unallocated contributions. Report members’ benefits in column 3 of both defined benefit members and members who are not defined benefit members. |\n| -------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Age bracket | Represents a segmentation of data based on the age of the member in years. |\n| Age not available | Represents where the date of birth of a member is not known. |\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. |\n| Unallocated contributions | Represents contributions received but not yet allocated to specific member accounts or reserves. Reference: Australian Accounting Standards. |\n\nMembership type segmentation\n\nItem 7 collects information about the membership of the sub-fund or SAF, as appropriate, by type of interest. For a defined benefit RSE, leave item 7 blank.\n\nReporting basis: report item 7 as at the end of the reporting period.\n\nUnit of measurement: report item 7.1 column 1 to item 7.4.1 column 1 inclusive as a whole number; report item 7.1 column 2 to item 7.4.1 column 2 inclusive in thousands of dollars.\n\n| Item 7 | Report item 7 for each sub-fund or SAF. For a defined benefit RSE leave item 7 blank. This information is reported on Reporting Form SRF 610.0 Membership Profile for each defined benefit RSE.Report the number of member accounts in column 1.Report the value of members’ benefits in column 2 as the sum of defined contribution members’ benefits (where relevant) and defined benefit members’ benefits (where relevant). Do not include unallocated contributions in column 2.Report members with defined benefit interests only in item 7.1 column 1 and column 2. Report the value of defined benefit members’ benefits in item 2.1 column 2.Report members with defined contribution interests only in item 7.2 column 1 and column 2. Report the value of defined contribution members’ benefits in item 2.2 column 2.Report in relation to members who have both defined benefit interests and defined contribution interests in item 7.3 column 1. Report the value of members’ benefits for these members separately in item 7.3.1 column 2 and item 7.3.2 column 2. Report the value of members’ benefits of defined benefit interests in item 7.3.1 column 2 as the value of defined benefit members’ benefits. Report the value of members’ benefits of defined contribution interests in item 7.3.2 column 2 as the value of defined contribution members’ benefits.Item 7.4 column 1 is a derived item. Report the total number of member accounts in item 7.4 column 1 as the sum of member accounts reported in item 7.1 column 1, item 7.2 column 1 and item 7.3 column 1.Item 7.4 column 2 is a derived item. Report the total value of members’ benefits in item 7.4 column 2 as the sum of members’ benefits reported in item 7.1 column 2, item 7.2 column 2, item 7.3.1 column 2 and item 7.3.2 column 2.Report the portion of member accounts reported in item 7.4 column 1 that is attributable to defined benefit pensions in item 7.4.1 column 1. Report the portion of members’ benefits reported in item 7.4 column 2 as the sum of defined contribution members’ benefits and defined benefit members’ benefits that is attributable to defined benefit pensions in item 7.4.1 column 2. |\n| ------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Defined benefit pensions | Represents a defined benefit pension within the meaning given in SIS Regulations, r. 9.04E. |\n\nInterpretation\n\nFor the purposes of these instructions:\n\n- defined benefit member has the meaning given in SPS 160;\n- defined benefit RSE means an RSE that is a defined benefit fund within the meaning given in SPS 160;\n- RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act;\n- RSE actuary means an actuary appointed by the RSE licensee to perform functions in relation to its business operations;\n- RSE licensee has the meaning given in section 10(1) of the SIS Act;\n- SGA Act means the Superannuation Guarantee (Administration) Act 1992;\n- SIS Act means Superannuation Industry (Supervision) Act 1993;\n- SIS Regulations means Superannuation Industry (Supervision) Regulations 1994;\n- small APRA fund (SAF) means a regulated superannuation fund, within the meaning given in section 10(1) of the SIS Act, which has fewer than five members and which meets the definition of defined benefit fund in SPS 160;\n- SPS 160 means Prudential Standard SPS 160 Defined Benefit Matters; and\n- sub-fund means a defined benefit sub-fund within the meaning given in SPS 160.\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 defined benefit RSE, sub-fund or SAF, the RSE licensee must separately provide the information required by the form for each defined benefit RSE, sub-fund or SAF within its business operations. An RSE licensee that does not have any defined benefit RSEs, sub-funds or SAFs 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":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":3111},"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The instrument maintains its original scope as a data collection mechanism for defined benefit superannuation entities. It focuses specifically on gathering financial position data, actuarial assumptions, and member demographics from trustees for prudential supervision purposes, without expanding into unrelated regulatory areas."},"complexity_factors":["Extensive cross-referencing to other regulatory instruments including Prudential Standard SPS 160, SIS Act 1993, SIS Regulations, and Prudential Standard SPS 310","Technical actuarial terminology requiring specialist knowledge (e.g., accrued benefits, vested benefits, ORFR reserves, weighted average term of liabilities)","Conditional reporting logic distinguishing between defined benefit RSEs, sub-funds, and small APRA funds (SAFs) with different fields required for different entity types","Mathematical derived items requiring specific calculations (e.g., vested benefit index calculated as net assets divided by vested benefits)","Multiple defined terms in interpretation sections (17 definitions in the main instrument plus additional definitions in the instructions)"],"plain_english_summary":"This rule requires trustees of defined benefit superannuation funds (including sub‑fund trustees and small APRA funds with defined benefits) to report detailed financial and actuarial information to APRA. \n\nBy giving APRA verified data on liabilities, assets, funding status, assumptions and member makeup, it lets the regulator spot underfunding or technical insolvency and oversee whether promised defined benefits are likely to be met."},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"The Determination establishes mandatory reporting for defined‑benefit matters as described in its Objective and Purpose (paras 1–2) and applies to RSE licensees for each defined benefit RSE, sub‑fund and SAF within their business operations (para 3). The text does not alter or narrow that stated scope but preserves APRA powers to vary reporting frequency or requirements by written notice (paras 8 and 16)."},"complexity_factors":["Coverage and application scope: applies to each RSE licensee in respect of each defined benefit RSE, sub‑fund and SAF within its business operations (para 3).","Detailed reporting content: numerous actuarial, accounting and member‑segmentation items (Form SRF 160.0 and Specific Instructions, Items 1–7) requiring technical valuation data and derived indexes (SRF instructions, Item 1).","Cross‑references to other prudential and statutory instruments: relies on Prudential Standard SPS 160, SPS 114, SPS 310, SPS 510, SIS Act and SIS Regulations for definitions and thresholds (see Authority/Purpose and Interpretation; SRF instructions throughout).","Submission method and technical format: mandatory electronic submission via 'Direct to APRA' (D2A) or alternative notified method (para 6), with precise units, date formats and rounding rules (SRF instructions 'Reporting basis and unit of measurement').","Timing and frequency rules with APRA discretion: standard annual timing (paras 7–9) but APRA may require different reporting frequency by written notice (para 8) and may grant extensions (para 10).","Quality control and assurance burden: requires RSE auditor review and testing of systems, procedures and internal controls at least annually and at least a limited assurance engagement consistent with auditing standards and SPS 310 (para 11–12).","Authorisation and record‑keeping requirements: digital certificate signing via D2A, retention of agent‑supplied copies, and submission authorisation by CEO or CFO (paras 13–15).","Variations power: APRA may vary reporting requirements for particular RSE licensees or funds by written notice (para 16), introducing regulatory discretion over scope and detail.","Derived calculations and indices: several reported fields are derived (e.g. accrued/vested/minimum benefit indexes using net assets – SRF instructions Item 1), requiring consistent internal calculation rules.","Multiple reporting levels and exceptions: different instructions for defined benefit RSE vs sub‑fund vs SAF (SRF 'Reporting level', Items 6–7), increasing mapping complexity for multi‑fund trustees."],"plain_english_summary":"This instrument requires RSE licensees to report to APRA standardized data about defined‑benefit superannuation interests (accrued, vested and minimum benefits; net assets; actuarial assumptions; certificates; member segmentation) using Form SRF 160.0. It specifies electronic submission, timing, audit review and authorised signatories.\n\nIt affects trustees/RSE licensees of defined benefit RSEs, sub‑funds and small APRA funds because APRA will use the data for prudential supervision and publication; compliance imposes ongoing data, control and auditor‑review obligations."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-66-of-2013-srs-160-0-defined","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-66-of-2013-srs-160-0-defined/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-66-of-2013-srs-160-0-defined/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-66-of-2013-srs-160-0-defined/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-66-of-2013-srs-160-0-defined/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-66-of-2013-srs-160-0-defined/documents"}}