New legislation will ‘staple’ members to their first super fund until they retire unless they choose otherwise. There are benefits but also some pitfalls to be aware of.
The urge to merge is gaining momentum among super funds, leaving members to weigh up the costs and benefits.
If you are one of the million Australians whose super fund failed APRA’s recent performance test, consider these things before you jump ship.
For the first time, the regulator APRA has required super funds to publish annual member outcomes assessments (MOAs) on their websites. These self-assessments show the extent to which funds actually help their members save for retirement and how they compare to other funds.
Now updated to 30 June 2021. Have you ever looked at your super fund’s investment returns and wondered how your fund compares with similar funds? Is it a consistently high performer or an inveterate underachiever?
After much haggling, the Government’s latest package of super reforms aimed at tackling high fees and low performance has passed through parliament.
Superannuation is now very much super-sized, with 187 super funds and $2.9 trillion invested. Here we list the 20 largest super funds in Australia so that you can benchmark your own fund.
There is still a big gap between the retirement savings of women and men, but some funds are offering support when younger women and families need it most.
Have you ever wondered why your super fund rarely sends you mail? It could be because it is one of the 36 funds that perform badly, or one of the six funds that perform extraordinarily badly. As of mid last year those six funds managed the retirement savings of 900,000 Australians.
APRA statistics released this week show retail funds have lost nearly $23 billion in value since December 2017, while over the same period industry funds grew by nearly $40 billion. This represents a change in value of assets of -6% for retail funds and +4% for industry funds.
MySuper funds have been around since 2014, but they are undergoing change in an effort to improve investment performance and lower fees.
Super fund fees are in the government’s sights, and funds are beginning to take notice.
Ever wondered why your super fund is set up like it is, or who provides all the services to members? We have the simple answers to all your questions.
Superannuation is a long-term investment but that doesn’t mean you can afford to put off thinking about it indefinitely.
Uncertain about whether or not you can choose your own super fund? Check out our simple guide to the current fund choice rules.