The amount of money Aussies will need to retire to maintain their living standards has increased by as much as 8 per cent. According to the latest figures from Super Consumers Australia, an independent organisation that has partnered with CHOICE, its revised retirement targets reflect cost of living increases and higher rates of the Age … Read more
Almost 100 superannuation funds have failed a performance test set by Australia’s industry regulator and which assesses earnings and fees. Members of 96 trustee-directed superannuation products will be contacted in coming weeks after their funds fell short in the expanded Your Future, Your Super performance test imposed by the Australian Prudential Regulation Authority (APRA). The … Read more
The corporate watchdog has launched legal action against Australia’s biggest superannuation fund for failing to consolidate the accounts of 90,000 members, costing the people affected $69 million. The Australian Securities and Investments Commission claims AustralianSuper failed to identify members who had multiple accounts and merge them for almost 10 years. The fund then charged fees … Read more
Australians are being reminded to check their superannuation funds to ensure they are maximising results, as experts reveal their best picks for consumers. Comparison site Finder has shared the winners of its super fund awards for 2023, naming the best of the bunch for key categories including low-fee funds, balanced funds, conservative funds and high-growth … Read more
