Unions received over $18 million in fees from super funds in last four years

Over $18 million was paid from superannuation funds to trade unions between 2013/14 and 2016/17 according to the Institute of Public Affairs, in a claim labelled by the ACTU as “wildly misleading”. The Institute of Public Affairs (IPA) has released a report titled Rivers of Gold: How the Trade Union Movement is Funded by Industry… Continue reading Unions received over $18 million in fees from super funds in last four years

Industry super fund members better off by $2,000 a year

Industry super fund members are around $2,000 better off a year compared to being in a retail super fund, according to the latest ‘Compare the Pair’ figures. Updated modelling, conducted by SuperRatings, for Industry Super Australia’s Compare the Pair campaign finds someone earning an average salary would have a super balance $20,871 higher over the… Continue reading Industry super fund members better off by $2,000 a year

Bills restart battle between industry and retail super funds

Two fronts in the battle between industry and retail super funds have been revived by the introduction of Government Bills to the Parliament to change the governance and reporting requirements on super funds. The Government has introduced two Bills to the Parliament to enact its super fund governance changes – including at least one-third independent… Continue reading Bills restart battle between industry and retail super funds

Industry-retail fund performance gap widening in “alarming” trend

The performance gap between industry and retail superannuation funds is widening, a development which Industry Super Australia describes as “alarming”. Industry Super Australia conducted an analysis of the recently released APRA statistics up to June 2017 and found that the margin by which industry super funds are outperforming retail super funds is increasing. Over one… Continue reading Industry-retail fund performance gap widening in “alarming” trend

Super industry now split evenly between industry, retail and SMSF: KPMG

Industry super funds have caught up with retail funds in terms of assets, so superannuation is now split one-third industry, retail and SMSF. However more consolidation of larger funds is required, according to KPMG. “Industry funds have caught up with retail funds over the past decade, and now there is an even split between the… Continue reading Super industry now split evenly between industry, retail and SMSF: KPMG

70% think all super funds should be run on not-for-profit basis

70% of Australians think that all superannuation funds should be run on a not-for-profit basis, according to an Essential poll commissioned by Industry Super Australia. The poll also found that 69% have either ‘some trust’ or ‘a lot of trust’ in the views of industry super funds ensuring the superannuation system works in the best interest… Continue reading 70% think all super funds should be run on not-for-profit basis

Satisfaction with industry super funds grows

Consumer satisfaction with industry superannuation funds continues to grow, according to a recent survey. “Industry superannuation funds continue to out-do retail funds for satisfaction with financial performance, with a 60.6% score in the six months to April, compared to 56.9% for retail funds,” said Roy Morgan Research. According to the same survey the satisfaction level… Continue reading Satisfaction with industry super funds grows

Industry super fund outperformance figures questioned

Industry Super Australia is overstating the extent to which industry super funds outperform retail funds, superannuation research and consulting firm Chant West has claimed. “Almost every time a performance survey is released it is quickly followed by some commentary from ISA [Industry Super Australia] extolling the superior returns of industry funds over what it calls… Continue reading Industry super fund outperformance figures questioned

ISA asks if retail super funds can balance members and profits

Industry Super Australia has questioned if retail superannuation funds can balance the interest of members and shareholders. The latest superannuation performance statistics indicates industry super funds continue to outperform retail super funds. Analysis by Industry Super Australia of the APRA statistics shows a 1.89% outperformance over the period December 2004 to March 2016. “These latest… Continue reading ISA asks if retail super funds can balance members and profits

Industry super funds continue to outperform retail funds

Not-for-profit industry superannuation funds have continued to outperform retail funds over a rolling 10 year time period, by just over 2%, according to an analysis of SuperRatings data by Industry Super Australia, Source: Industry Super Australia Industry Super Australia Chief Executive David Whiteley said industry super fund members “can take comfort in these results and should… Continue reading Industry super funds continue to outperform retail funds