APRA has released its consultation on the Retirement Reporting Framework, and the volume of material is significant: a consultation paper, a supplementary technical paper with column-level formulae, three draft changes to reporting standards, and a definitions update. To help navigate the architecture, I've mapped the full document ecosystem into a single flow diagram showing how the Government's Design Specifications flow through to the proposed SRS amendments (607.0 and the new 611.1), through the Technical Paper's calculation layer, and out to the 3 indicators and 3 metrics that will be published from 2028.
A few things stand out from the detail: the indicator pathway and metric pathway are deliberately separated, with indicators collected at the RSE level (what does your fund offer?) and metrics collected at the member-cohort level (how are your members actually behaving?). That's different data, different granularity, and a very different reporting burden for funds that are less advanced in member-centric reporting. Also, SRS 610.0 is being revoked, so funds currently reporting against it need to understand what migrates to 611.1 and what falls away.
As I noted recently, the Retirement Reporting Framework has the potential to go into overdrive once it's live and transparent. We have already seen how privately-developed scoring systems can grab the attention of funds seeking to come out on top. Now imagine that with APRA oversight and public reporting. Best to get ahead of it now, understand what data needs to be collected and what yours is likely to look like.