Do superannuation trustees need to comply with SPS 530 (Investment Governance) for APRA-regulated super funds?
A computed answer from the Rules Mate applicability engine, with the exact condition, the outcome for every structure and size, and the primary source.
Short answer: Yes
Yes. This obligation applies to superannuation trustees whatever their structure or size. The deciding fact: Industry: Superannuation trustees.
The obligation in brief
Comply with SPS 530 (Investment Governance) for APRA-regulated super funds. SPS 530 sets requirements for an RSE licensee's investment governance framework: investment beliefs, formulation of investment strategy, performance assessment, valuation, liquidity management. Annual performance testing (under YFYS regime) for MySuper + Choice products separate but related.
Trigger: Holding an RSE licence.
Why superannuation trustees get a different answer
Rules Mate runs its applicability engine across 9 business structures and 6 size bands for each of the 35 industries it maps. For 34 of those industries the answer for "Comply with SPS 530 (Investment Governance) for APRA-regulated super funds" is no. Superannuation trustees is one of the 1 where the answer is different: yes.
The deciding fact for superannuation trustees: Industry: Superannuation trustees.
About the industry: Trustees of APRA-regulated super funds.
Compare a professional services (general) business with 6–19 employees structured as a Pty Ltd company: the obligation does not apply (Requires industry: Superannuation trustees).
Answer by business structure and size
Each cell is the engine's outcome for a business in superannuation trustees with that structure and size, assuming it sells to consumers and small businesses and holds customer contact details. "Check" means the obligation turns on a fact the industry does not settle.
| Structure | No employees | 1–5 employees | 6–19 employees | 20–99 employees | 100–499 employees | 500+ employees |
|---|---|---|---|---|---|---|
| Sole trader | Yes | Yes | Yes | Yes | Yes | Yes |
| Partnership | Yes | Yes | Yes | Yes | Yes | Yes |
| Trust | Yes | Yes | Yes | Yes | Yes | Yes |
| Pty Ltd company | Yes | Yes | Yes | Yes | Yes | Yes |
| Public company | Yes | Yes | Yes | Yes | Yes | Yes |
| Not-for-profit (unregistered) | Yes | Yes | Yes | Yes | Yes | Yes |
| Registered charity | Yes | Yes | Yes | Yes | Yes | Yes |
| Super fund | Yes | Yes | Yes | Yes | Yes | Yes |
| Foreign company | Yes | Yes | Yes | Yes | Yes | Yes |
What the obligation requires
- When due
- Continuous; annual performance test.
- Evidence to keep
- Investment governance framework, board minutes, performance attribution reports.
- Maximum penalty
- APRA enforcement actions including additional capital, licence conditions
- Regulator
- APRA
- Jurisdiction
- Commonwealth (national)
Other obligations where superannuation trustees differ from the norm
- Annual YFYS performance test (MySuper + Choice): Yes
- Comply with SIS Act trustee covenants: Yes
- Lodge an annual SMSF audit before lodging the SMSF Annual Return: No
- Maintain SMSF compliance with the sole purpose test (s 62): No
- Stronger Member Outcomes — APRA SPS 515: Yes
- MySuper authorisation for default super products: Yes
- All 15 answers for superannuation trustees
Questions
- Do superannuation trustees need to comply with SPS 530 (Investment Governance) for APRA-regulated super funds?
- Yes. This obligation applies to superannuation trustees whatever their structure or size. The deciding fact: Industry: Superannuation trustees.
- Is the answer the same for every industry?
- No. For 34 of the 35 industries Rules Mate maps, the answer is no. Superannuation trustees is one of 1 industries with a different answer.
Related
Sources
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.