Document ID: chunk:federal_register_of_legislation:F2015L01008:body:0:p7
Version: federal_register_of_legislation:F2015L01008
Segment Type: other
Provision Reference: 
Character Range: 17301–20376

return target for the non-lifecycle MySuper product or the return target for the lifecycle stage of a lifecycle MySuper product, as relevant, in item 1.

                Report the starting date for the return target in item 1.1.

                Note that the return target is calculated using a net return of a representative member. Net return of a representative member is defined in item 2.

                The definition of return target refers to growth in the CPI. Measure growth in CPI using the annual growth in CPI as reported by the Australian Bureau of Statistics in catalogue 6401.0 Consumer Price Index, Australia, data series ID A2325847F: Percentage change from corresponding quarter of previous year; All Groups CPI, Australia.

                Example: An RSE licensee may estimate a distribution of possible outcomes for the annualised percentage rate of net return that exceeds the growth in the CPI over ten years. The return target is the mean of this distribution.

                Note that the starting date for the return target is not required to be published on the product dashboard under the Corporations Act or Corporations Regulations, but is for APRA's data collection purposes.

Return target   Represents the mean annualised estimate of the percentage rate of net return that exceeds the growth in the CPI over ten years. Reference: Corporations Act, s. 1017BA(2)(a)(i), Corporations Regulations, r. 7.9.07R.

Starting date   Represents the date the return target was approved by the RSE licensee.

Item 2                                      Information reported in item 2 relates to the return[10] and a comparison between return target and return on the product dashboard.[11]

                                            Report each period for which the return must be calculated as a separate row in item 2.[12]

Item 2                                      Report the date to which the return relates in item 2 column 1.

column 1                                    Example (report only full years to 30 June): if the MySuper product and predecessor product have been offered since 15 August 2010 and the reporting day is 30 June 2014, report the dates 30/06/2012, 30/06/2013 and 30/06/2014 as separate lines in item 2 column 1, representing the return for the years ending 30 June 2012, 30 June 2013 and 30 June 2014.

                                            Note that the first period (15 August 2010 to 30 June 2011) is a partial year and must not be included as a return calculated over a partial year is not comparable to a full year return.

Item 2                                      For each date reported in item 2 column 1, report the return for the non-lifecycle MySuper product (or predecessor product[13]) or the return for the lifecycle stage of a lifecycle MySuper product (or predecessor product), as relevant, in column 2.

column 2                                    Calculate the return in column 2 as the net return of a representative member.

                                            The net return of