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When your annual superannuation statement soon lands in your email inbox, you will see the investment legacy of the past crazy coronavirus year.
From initial extreme sharemarket volatility to recent record highs, it has been a wild ride.
Super fund members can celebrate a big year for their balances.
Credit:Simon Letch
Far from predictions of ongoing investment decimation at the onset of COVID-19, the median super fund likely ended 2020-21 with an astonishing gain of about 17.5 per cent, according to fund researcher SuperRatings. The final figures are due out tomorrow.
It is a perfect moment to conduct a five-minute super fund health check to make sure you are on track for a comfortable retirement.
Your five-minute super fund health check brisbanetimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brisbanetimes.com.au Daily Mail and Mail on Sunday newspapers.
Government bolsters funds for super regulation
Government bolsters funds for super regulation
Staffing levels at the prudential regulator will rise and consumer advocates will be given more cash under new measures outlined in Tuesday’s budget.
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As outlined in the federal budget papers, the government has committed $11.2 million over four years from 2021-22, as well as $3.1 million per year ongoing, to support stronger consumer outcomes in superannuation.
It has built on a prior allocation of $159.6 million over four years from the 2020 budget, to implement super reforms for boosted member outcomes.
The new package includes $9.6 million for APRA to supervise and enforce increased transparency and accountability measures as part of the Your Future, Your Super reforms, which if passed, will take effect from July.
The government has answered calls to work on the gender divide in superannuation by scrapping the $450 monthly threshold, but a number of funds and bodies have said the measure is not enough. The cu