Retail super fund members are misinformed, and they don’t know it

Many retail super fund members are misinformed about their super funds, and they don’t know it, research released by AIST has revealed. The research, commissioned by the Australian Institute of Superannuation Trustees, found a “high level of confusion” amongst retail super fund members. While many retail fund members were confident, what many of them thought… Continue reading Retail super fund members are misinformed, and they don’t know it

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

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

Retail fund underperformance a “drain” on retirement savings

Industry Super Australia says superannuation retirement savings are being “drained by underperformance” by bank-owned retail superannuation funds. “New APRA data released today has confirmed average annual returns to industry super funds in the not-for-profit sector have been around 2% higher than average returns to bank-owned funds over the last 11 years, from June 2004 to June… Continue reading Retail fund underperformance a “drain” on retirement savings

Report links industry super fund performance with governance

The fight between industry and retail super funds appears to be moving to a new battleground, this time over the appointment of directors of super funds. The McKell Institute, an “independent, not-for-profit public policy institute”, has released a report investigating the governance structures of retail and industry super funds, and comparing this to investment returns. However… Continue reading Report links industry super fund performance with governance

Industry Super uses new research to argue against retail funds

Industry Super Australia says that new research “shows the age at which you retire age could boil down to the type of super fund you are a member of”. The report, by the McKell Institute, compares performance over the period 1987 to 2013 and finds that “an Australian could have to contribute to their super… Continue reading Industry Super uses new research to argue against retail funds