The Australian Prudential Regulation Authority has published its 2026 Comprehensive Product Performance Package, providing comparative metrics and legislated performance test results for most multi-sector accumulation products offered by APRA-regulated superannuation funds. The package continues APRA’s use of the Your Future, Your Super performance framework to improve transparency and hold trustees accountable for member outcomes. Underperformance among products subject to the test has declined substantially since testing began in 2021. Failures increased slightly in 2026 but remained within the range recorded over the previous three years, indicating that pockets of underperformance persist. APRA will use the results to identify concerns, assess whether trustees are meeting their obligations and apply heightened supervisory scrutiny where appropriate. The findings cover a system in which total retirement savings are nearing AUD 4.8 trillion, including more than AUD 3.4 trillion held by APRA-regulated funds.
2026-08-28Australian Prudential Regulation Authority
Australian Prudential Regulation Authority publishes 2026 product performance package, flags slight rise in superannuation test failures
The Australian Prudential Regulation Authority has published comparative performance data and test outcomes for most multi-sector accumulation products. Test failures rose slightly in 2026 but remained within the range recorded over the past three years, and APRA will apply heightened scrutiny where appropriate.