Increased default fund competition could save $292 million a year in fees

Increasing competition between super funds could save $292 million a year in fees, says the Financial Services Council.

The FSC has released research, by Deloitte Access Economics, which indicates increasing competition among MySuper super funds could reduce total administration

FSC calls for Super 2.0, ISA calls it more cross-selling and bundling

The Financial Services Council has called for strengthened governance and increased competition in the superannuation system, which Industry Super Australia says is a call for more cross-selling and bundling of super products by the major banks.

FSC CEO Sally Loane

Financial Services Council rejects super safety net claims

In response to claims by Industry Super Australia that recent reviews of the superannuation system had supported the current system for choosing default superannuation funds the Financial System Inquiry has written a letter to the editor of The Australian:

Superannuation battle lines drawn ahead of FSI final report

The battle lines have been drawn between Industry Super Australia and the Financial Services Council ahead of release of the Financial System Inquiry (FSI) final report.

Industry Super Australia CEO David Whiteley says the superannuation sector is at a “crossroads.”

Super safety net under threat from changes to default super

Industry Super Australia Chief Executive David Whiteley has used a speech to the National Press Club to argue that the superannuation safety net is under threat.

The National Press Council on Wednesday was the latest forum for the continuing fight

Superannuation system “middle of the pack” internationally

The Australian superannuation system has been described as “middle of the pack” in terms of investment returns and fees in an international comparison conducted by Deloitte Access Economics.

Titled Financial performance of Australia’s superannuation products, the report was recently