Superannuation trustees compliance in Queensland

Comply with APRA CPS 234 (Information Security)

APRA-regulated entities must maintain information security capability commensurate with the size and extent of threats.

Comply with Design and Distribution Obligations (DDO)

Issuers and distributors of retail financial products must have a Target Market Determination (TMD) and distribute consistently with it.

Comply with APRA CPS 230 (Operational Risk Management)

APRA-regulated entities must manage operational risk including a comprehensive third-party / outsourcing register from 1 July 2025.

Comply with Financial Accountability Regime (FAR) accountability obligations

Banking entities from 15 March 2024; insurers and super trustees from 15 March 2025.

Comply with SIS Act trustee covenants

Super fund trustees owe statutory covenants of care, skill, diligence, best financial interests, and prudent investment.

Stronger Member Outcomes — APRA SPS 515

RSE licensees must annually assess member-outcomes performance + take action.

FAR deferred remuneration arrangements (40% deferral 4 years)

FAR accountable persons must have 40% of variable remuneration deferred 4 years.

Comply with APRA CPS 220 (Risk Management)

APRA-regulated entities must have a comprehensive risk management framework.

Annual YFYS performance test (MySuper + Choice)

APRA annual performance test for MySuper products + (from 2024) Trustee Directed Products.

MySuper authorisation for default super products

Default super contributions can only flow to APRA-authorised MySuper products.

Comply with SPS 530 (Investment Governance) for APRA-regulated super funds

RSE licensees must have a documented investment governance framework.