Stronger Member Outcomes — APRA SPS 515
RSE licensees must annually assess member-outcomes performance + take action.
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Who must comply
APRA-regulated RSE licensees.
What triggers it
Annual cycle.
When due
Annual assessment + board sign-off.
Evidence required
Outcomes assessment; board minutes; action plan.
Max penalty
APRA enforcement actions; product closure decisions
Summary
APRA SPS 515 + SPG 515 require RSE licensees to conduct an annual member-outcomes assessment for each cohort (MySuper + Choice). Test investment performance, fees + costs, options + benefits, services. Take action where outcomes inadequate.
Enforced by
Source legislation
Industries
Topics
supermember-outcomessps-515
Related obligations
- CWLTHPay superannuation on every payday (Payday Super)From 1 July 2026, super must reach the employee's fund within 7 business days of each payday.
- CWLTHComply with SIS Act trustee covenantsSuper fund trustees owe statutory covenants of care, skill, diligence, best financial interests, and prudent investment.
- CWLTHLodge an annual SMSF audit before lodging the SMSF Annual ReturnSelf-managed super funds must be audited by an ASIC-registered auditor each year.
- CWLTHMaintain SMSF compliance with the sole purpose test (s 62)SMSFs must be maintained for the sole purpose of providing retirement benefits.
- CWLTHAnnual YFYS performance test (MySuper + Choice)APRA annual performance test for MySuper products + (from 2024) Trustee Directed Products.
- CWLTHMySuper authorisation for default super productsDefault super contributions can only flow to APRA-authorised MySuper products.
Frequently asked questions
- Who must comply with Stronger Member Outcomes — APRA SPS 515?
- APRA-regulated RSE licensees.
- What triggers Stronger Member Outcomes — APRA SPS 515?
- Annual cycle.
- When is Stronger Member Outcomes — APRA SPS 515 due?
- Annual assessment + board sign-off.
- What is the maximum penalty for Stronger Member Outcomes — APRA SPS 515?
- APRA enforcement actions; product closure decisions
- What evidence is required for Stronger Member Outcomes — APRA SPS 515?
- Outcomes assessment; board minutes; action plan.
Source: https://apra.gov.au/super-prudential-framework. Rules Mate is not a law firm. Always verify against the live regulator source before acting.