Super Consumers News Today

Make sure you are in a well-performing super fund now that new rules apply, writes Rod Myer.

Lack of familiarity of how the retirement system works is leaving many worse off, a new study has found.

Periods of volatility on markets leads some fund members to switch super investment options, usually with poor results.

The extension of performance tests to a wide range of choice superannuation products has revealed that 12 per cent of the products on offer to the public have underperformed, according to prudential supervisor APRA.

The total number of choice products failing the test was 96 and these covered 60,000 individual accounts.

The Greens have exacted revenge on Labor for reneging on a deal to fine law-breaking bankers by joining a push to overturn controversial super reforms.

Professional Planner will host three sessions with the financial services minister in March for advisers to hear first-hand on the government’s response to the Quality of Advice Review, and to quiz the minister on his plans.

Retirement is overwhelmingly concerning Australians, with a nationally representative Finder survey showing over 12 million people harbour longevity risk worries.

Paul Schroder says he is frustrated by sitting in rooms with super fund representatives more focused on the minutiae of the performance test than making money.

The Albanese government should not allow superannuation fund products to be exempted from performance testing that has already saved people $100 million in fees.