David Bushby (Tasmania, Liberal Party) Share this | Hansard source

asked the Minister representing the Treasurer, upon notice, on 9 March 2012:

In regard to the Australian Prudential Regulation Authority (APRA) and provisions relating to the superannuation industry:

(1) What is the status of the requirement for superannuation funds to take less than 30 days to roll money over to a different fund or to a member following the member's request.

(2) What is the extent of non-compliance, listed by industry segment, in regard to this provision.

(3) What rollover release times appear to be:

(a) best practice; and

(b) less than best practice.

(4) Does the industry fund sector generally take significantly longer than the retail fund sector in arranging and administering rollovers; if so:

(a) can APRA provide the relevant data relating to this trend; and

(b) what are the reasons for this difference according to APRA.