SPS 114 ORFR

Insights

ORFR and member equity

Some practical considerations

This article discusses some practical considerations in the area of equity for members arising from the introduction of the SPS 114 ORFR that we believe the industry will face over the next few years.

Download the report

ORFR and member equity

It is based on our work helping clients to establish their risk frameworks and ORFR reserves.

The Stronger Super changes introduced a number of Prudential Standards for the superannuation industry. One of those superannuation prudential standards (SPS 114) introduced an Operational Risk Financial Requirement (ORFR) for super funds to be established over a three year period from 1 July 2013. The ORFR is intended to be a reserve to meet the cost of potential future operational losses such as administration errors, fraud events or legal claims against the fund due to inadequate process.

Contact us

Caroline Bennet

Caroline Bennet

Partner, Consulting

Caroline is a partner of Actuaries and Consultants...More

Services

Actuaries & Consultants

Deloitte has extensive experience in banking, life insurance, wealth management, health, general insurance, superannuation and valuations.

Key contacts

Caroline Bennet

Partner, Consulting

Careers

Life at Deloitte

People make Deloitte one of the best places to work. What’s great about the people? That’s an easy answer. They are exceptional. Each person is unique and valued for that, among the best and brightest in the business, and takes pride in his or her achievements and the success of others.

Contact us

Contact us via our online form

Submit RFP

Submit via our online form