Retirees freed from legacy products
Individuals locked into legacy retirement products will now have the chance to transfer into newer, more flexible products without penalty under a new measure.
Rise of the mega funds continues
Increased merger activity in the superannuation sector will see most of Australia's retirement savings managed by just 12 funds, new research shows
Draft regulation on YFYS released
The government has conceded to industry demands on administration fees and unlisted assets' treatment in the new APRA performance tests, as it finally releases draft regulation for the Your Future, Your Super reforms.
Super top ups increase: Survey
While only one in five (20%) Australians make extra contributions to their superannuation per month, it marks a growing number of members who are thinking more about their retirement balances, a new survey found.
Early release of super spending revealed
The Australian Bureau of Statistics has revealed what people who accessed their super early due to financial hardship caused by COVID-19 spent the money on.
Vanguard Super appoints board
Vanguard has appointed a four-person board for its forthcoming superannuation product, to be chaired by Peggy O'Neal.
EISS Super, TWUSUPER explore merger
The two industry superannuation funds have signed a memorandum of understanding to weigh a potential merger.
AustralianSuper subverts stapling logic
Australia's largest superannuation fund is taking issue with the proposed stapling regulations, arguing that the model is backwards and will not protect members from being stuck in dud funds.
"Financial" in BFID is no big deal Academic
A UNSW academic says subjecting superannuation funds to "best financial interest duty" instead of just "best interest duty" is not material, but BFID's flow-on effects will be concerning for trustees.
Super runs out before death ASFA
New research claims that the majority of Australians deplete their superannuation savings before death, countering the Retirement Income Review's findings.
ABC, ISH arrangement faces scrutiny
APRA is facing mounting pressure to investigate the complex arrangements and quantify the financial terms between industry superannuation funds and the ABC, a parliamentary inquiry heard this morning.
QSuper pokes holes in YFYS legislation
QSuper says the Your Future, Your Super bill's proposals may result in higher operational costs at superannuation funds and delays in decision-making, alongside less talent for their boards.
Not-so-Zuper: Super disruptor folds
Having failed to reach sufficient scale, the millennial superannuation fund will close its doors next month.
PYSP reunites $4.3bn of lost super
The Protecting Your Super Package legislation which asked super funds to hand over inactive accounts to the Australian Taxation Office (ATO) has returned $4.3 billion to members in about 17 months.
Admin fees could balloon from BFID
The new best financial interests duty (BFID) could see members pay higher administration fees as the record-keeping obligations ramp up, superannuation funds and industry experts warn
Cost of living eroding super: ASFA
The cost of food and healthcare continue to eat up retirees' nest eggs, according to a retirement index that shows overall day-to-day necessities are becoming too expensive
State Street loses Fearless Girl replica claim
HESTA and Cbus have settled claims brought against them by State Street over the Fearless Girl statue, while Maurice Blackburn scored a win in court last week
Senator calls for super funds to stop shorting
A senator has argued that super funds should not be able to take short positions or participate in securities lending to short sellers
Big super locking Aussies out of homes: Wilson
Industry Super Australia says recent comments by Liberal MP Tim Wilson that "big super" is locking young Aussies out of the housing market are "scary"
MTAA Super increases premiums amid merger
A $117 billion superannuation fund is changing the cost of insurance across the board at the turn of the New Year
Hume slams superannuation circus
Senator Jane Hume has slammed the spectacle within the superannuation sector and the conflicting views from executives and industry bodies.
Lifecycle products cost members: Research
New Rainmaker research has found being a member of a typical lifecycle MySuper product could reduce a person's retirement savings by up to 23% by age 70.
Super concerns over legislation
Superannuation funds are making changes to investment portfolios ahead of legislation which in turn could lead to more volatility and less diversification for members.
Bad year for super funds
Three in four superannuation funds reported negative net earnings last year, after accounting for all expenses and income.
AustralianSuper breached member's privacy: Regulator
The $180 billion superannuation fund has been ordered to audit certain procedures, after a member's complaint to a federal regulator found the fund interfered with their privacy.
Prioritise underperformance over stapling: AIST
The Australian Institute of Superannuation Trustees says the new Your Future, Your Super laws should prioritise underperformance ahead of stapling as existing members stuck in dud funds will be worse off.
Class action launched against OnePath
Slater and Gordon have filed a class action against ANZ and its former subsidiaries OnePath Custodians and OnePath Life as part of its #GetYourSuperBack campaign.
Super underperformance needs to be addressed: Research
Rainmaker research shows there is an underperformance challenge that needs to be confronted.
Hostplus axes manager
Hostplus has terminated an Australian equities mandate with a Franklin Templeton subsidiary.
Super funds boost stake in US toll roads
AustralianSuper and UniSuper have bolstered their investments in a major road development based on the east coast of the US.
ERS had little effect on funds: Research
Large outflows experienced by some super funds as a result of the government's early release of super scheme had little impact on fund performance.
New heatmap shames trustees
The same underperforming and costly MySuper products APRA named and shamed last year have failed members again in the latest iteration of the heatmaps.
Cbus, Media Super merger progresses
Industry Super Australia (ISA) has significantly ramped up its campaign against the Morrison government's Your Future, Your Super reforms package
ISA ramps up campaign against super reforms
Industry Super Australia (ISA) has significantly ramped up its campaign against the Morrison government's Your Future, Your Super reforms package
Retail superfunds grilled on member priorities
A parliamentary inquiry has again cast doubt over retail superannuation funds' ability to put the best financial interests of members ahead of profit and shareholders.
Retirement costs keep rising: ASFA
A $117 billion superannuation fund is changing the cost of insurance across the board at the turn of the New Year.
Super fund increases premiums
A $117 billion superannuation fund is changing the cost of insurance across the board at the turn of the New Year.
Hume scrutinises super fund spend
Senator Jane Hume is cracking down on how superannuation funds spend members' money and subjecting them to the same stringent reporting and disclosure requirements as publicly-listed companies.
Australians drain $35bn from super
Around $35 billion has been removed from Australians retirement savings as the governments' early release of super (ERS) scheme edges towards its close.
AIST pokes holes in Your Super, Your Choice
Outlining its view of the reforms, AIST pointed out the need for all members to be protected from underperformance, not just new members.
Super funds overlook digital engagement
Superannuation funds are missing an opportunity to engage with younger members, who are increasingly becoming dissatisfied with their providers, via digital engagement.
AustralianSuper dodges advertising scrutiny
The nation's largest superannuation fund is facing heat for not divulging details of its $11 million marketing expense and how effective that has been in acquiring new members.
The rate that stops the nation
Prior to the horses hitting the track many economists are betting on a rate cut by the Reserve Bank of Australia's board today to a new historical low of 0.10%.
Rest climate case dismissed
The Federal Court case brought by Mark McVeigh against the $57 billion industry super fund has been dismissed.
UniSuper revises fees for TTR members
The $83 billion superannuation fund has updated its fees for transition-to-retirement members invested in several options.
New super benchmarking flawed: Rice Warner
The government's new Your Future, Your Super investment performance benchmarking is flawed and will have unintended consequences, according to Rice Warner.
ASFA proposes MySuper test
The Association of Superannuation Funds of Australia is suggesting an alternative one-off test to weed out underperforming default funds.
