Default Superannuation 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

Opening up default super fund process would cost $1.8 billion

Industry Super Australia says that opening up the default superannuation fund process would add red tape costing $1.8 billion.

Industry Super Australia and the Financial Services Council are engaged in a battle over which super funds can be default super funds and the manner in which they are chosen. One option is to have employers choose a super fund from an “unranked list of 120 MySuper funds.”

Read More »Opening up default super fund process would cost $1.8 billion

Default super fund tender proposal reignites FSC/ISA fight

A report by independent think tank the Grattan Institute, calling for a competitive government-run tender to select default superannuation funds, has reignited the fight between the Financial Services Council and Industry Super Australia over default funds.

The Grattan Institute recently released a report calling for the Government to implement a tender process to select default superannuation funds, saying this could save $1 billion in fees a year.

Read More »Default super fund tender proposal reignites FSC/ISA fight