Default Superannuation Funds

Tender process for default super “solution looking for a problem”: ASFA

The Association of Superannuation Funds of Australia (ASFA) says a Chilean-style tender process for selecting default superannuation funds is a solution looking for a problem. ASFA has released a research paper on the Chilean tender process for pension funds, at a time when the Productivity Commission is considering such a… Read More »Tender process for default super “solution looking for a problem”: ASFA

Banks getting more efficient with benefits to business switching default super funds

Banks continue to offer benefits to businesses to encourage them to switch default superannuation funds for their employees and it appears to be producing results, according to research released by Industry Super Australia. “The results clearly show that the banks continue to be active in recommending default funds to SMEs,… Read More »Banks getting more efficient with benefits to business switching default super funds

ASIC warns about issues with employers choosing default super funds

ASIC has warned about the issues with employers choosing default super funds for employees, including around incentives and the offering of inducements. “Although employers currently have the legal responsibility to make a decision in relation to the default superannuation product, employers are required to neither select a fund that is… Read More »ASIC warns about issues with employers choosing default super funds

Small employers shouldn’t have to choose default super funds: Mercer

Smaller employers should not have to choose default super funds for employees, Mercer has told the Productivity Commission. The Productivity Commission is conducting an inquiry into alternative models for setting default super funds. The consulting firm Mercer, in its submission to the inquiry, says it is “essential” that larger employers… Read More »Small employers shouldn’t have to choose default super funds: Mercer