Superannuation Division News Today

Australians should consider putting their money in their superannuation instead of property as fund balances are now growing faster than house prices. Analysis by Chant West showed median growth-orientated retirement balances surged by 12.2 per cent since July 1 - something unthinkable only a year ago. The double-digit growth in just nine months, to the end of March 2021, was even stronger than the 7.7 per cent surge in Sydneys median house price during the past year. Australias share market wa...

Majority of super funds take a COVID-19 hit Share About two-thirds of superannuation funds made a loss over the 12 months to June 2020, according to the latest data from the prudential regulator, raising questions about the value of active funds management. Driven by the coronavirus-induced economic downturn in the later months of the year, more than 100 funds returned negative results in FY 2019-20, ranging from -0.01 per cent through to -58.5 per cent. The data from the Australian Prudential ...